Financials
- Fiscal year
- 2025
- Turnover
- €181.6m
- Profit
- €1.4m
- Solvency
- 21.7%
Turnover▼ 0.5%
Net result
20182025
APOK
ActiveSummary
APOK has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15.8m and a net result of €1.4m. Equity is shrinking by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 19% of 818 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Activity
Manufacture of fabricated metal products, except machinery and equipment
NACE 25999NACE 28755
#1 employer in Flemish Brabant, Fabricated metal products sector33 sites
Size
€181.6mturnover 2025
- Staff
- 235.6 FTE
- Equity
- €15.8m
- Profit
- €1.4m
Structure
- Parent
- Fedrus International · 100%
- Holdings
- 1
Accounts 59 d early0 of 28 deeds read
Why 80- Equity €15.8m (21.7% of total assets)- Sector Manufacture of fabricated metal products, except machinery and equipment (NACE 25)- Liquidity: current ratio 2.06, cash €32,982+ Size: turnover €181.6m, 235.6 FTE, total assets €72.8mShow the evidence
Checked score
Score 2025
80
/ 100
Excellent
Probability in this band: under 0.55%
Better than 36% of its sector peers (NACE 25, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
47+5
equity 21.7% of total assets
Liquidity
37-1
short-term debt 30.8% · cash 0.0%
Profitability
37+7
return on assets 1.9%
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.6%
12-2024: 0.6%▲ +6.0% vs 11-2024
01-2025: 0.6%● 0.0% vs 12-2024
02-2025: 0.6%▼ -3.4% vs 01-2025
03-2025: 0.6%▲ +1.7% vs 02-2025
04-2025: 0.6%● 0.0% vs 03-2025
05-2025: 0.6%● 0.0% vs 04-2025
06-2025: 0.6%▲ +2.8% vs 05-2025highest value
07-2025: 0.6%▼ -6.4% vs 06-2025
08-2025: 0.6%● 0.0% vs 07-2025
09-2025: 0.6%● 0.0% vs 08-2025
10-2025: 0.6%● 0.0% vs 09-2025
11-2025: 0.6%● 0.0% vs 10-2025
12-2025: 0.6%● 0.0% vs 11-2025
01-2026: 0.6%● 0.0% vs 12-2025
02-2026: 0.6%▼ -3.4% vs 01-2026
03-2026: 0.6%▲ +1.4% vs 02-2026
04-2026: 0.6%▲ +1.9% vs 03-2026
05-2026: 0.6%● 0.0% vs 04-2026
06-2026: 0.6%▲ +2.2% vs 05-2026
07-2026: 0.5%▼ -18.3% vs 06-2026lowest value
08-2026: 0.5%● 0.0% vs 07-2026lowest value
09-2026: 0.5%● 0.0% vs 08-2026lowest value
10-2026: 0.5%● 0.0% vs 09-2026lowest value
- Equity €15.8m (21.7% of total assets) raises the probability
- Sector Manufacture of fabricated metal products, except machinery and equipment (NACE 25) raises the probability
- Liquidity: current ratio 2.06, cash €32,982 raises the probability
- Size: turnover €181.6m, 235.6 FTE, total assets €72.8m lowers the probability for this profile
Credit up to €1,250,000 at 30 days acceptable
Liquidity ample (current ratio 2.06 against 2.31 in 2024; short-term debt: 30.8% and cash: 0% of total assets), but 78.3% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 25, medium-sized). Better than this share of them on solvency 21%, liquidity 44%, profitability 19%, growth against the median 59%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 818 sector peers (2025).
NBB · sector comparisonPosition among 818 sector peers
Solvency
better than 19%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €15.8m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
51 d early
2023
63 d early
2022
61 d early
2021
69 d early
2020
65 d early
2019
59 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 61 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 31 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- Annual accounts filedfiscal year 2024 · full…
- Annual accounts filedfiscal year 2023 · full…
Key points
- Positive: Result rose in 2025from €288,791 to €1.4m ▲ 390% View
- Positive: Employer in Flemish Brabant, Fabricated metal products sectorin the Checked rankings #1 View
- Positive: Always filed on timeaccounts within the deadline every year 8 years View
- Controlled by Fedrus Internationalknown shareholders 100% 100% View
- Positive: 6 profitable years in a rowprofit 2025: €1.4m 6 years View
- Flemish supportawarded 2022 - 2025 €94,021 View
By topic
Board & ownership
- Parent
- Fedrus International · 100%
- Known shareholders
- 100%
Network & group
- Group
- KOIBA
- Subsidiaries
- 1
1 subsidiary
Timeline
- Events
- 13
- Since
- 2017
- Next accounts
- by 31-07-2027
- 02-06-2026Annual accounts filed
- 10-06-2025Annual accounts filed
- 29-05-2024Annual accounts filed
Company details
- Sites
- 33
- Legal form
- Public limited company
- Activity
- Manufacture of fabricated metal products, except machinery and…NACE 25999
- Founded
- 26-06-1992
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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