APOSAN
ActiveSummary
APOSAN has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.56M and a net result of €113k. Equity is growing by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 39% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+8
Solvency68▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity short (current ratio 0.68 against 2.47 in 2024; short-term debt: 14.8% and cash: 5.3% of total assets), and 57.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
42.7%
Return on assets
3.1%
Age of the figures
18 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-11-2025, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
1 d early
2023
4 d early
2022
3 d late
2021
17 d late
2020
3 d early
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€1.56M▲ 7.8%
2024 · €1.45M
2019: €804klowest in 7 years
2020: €964k▲ +19.9% vs 2019
2021: €1.12M▲ +16.3% vs 2020
2022: €1.28M▲ +13.9% vs 2021
2023: €1.36M▲ +6.2% vs 2022
2024: €1.45M▲ +6.9% vs 2023
2025: €1.56M▲ +7.8% vs 2024highest in 7 years
2019 → 2025
Total assets
€3.66M▲ 7.1%
2024 · €3.42M
2019: €2.26M
2020: €2.28M▲ +1.1% vs 2019
2021: €2.06M▼ -10.0% vs 2020lowest in 7 years
2022: €2.33M▲ +13.4% vs 2021
2023: €3.16M▲ +35.4% vs 2022
2024: €3.42M▲ +8.3% vs 2023
2025: €3.66M▲ +7.1% vs 2024highest in 7 years
2019 → 2025
Net result
€113k▲ 20.9%
2024 · €94k
2019: €159k
2020: €160k▲ +0.8% vs 2019highest in 7 years
2021: €157k▼ -2.0% vs 2020
2022: €156k▼ -0.5% vs 2021
2023: €79k▼ -49.5% vs 2022lowest in 7 years
2024: €94k▲ +19.0% vs 2023
2025: €113k▲ +20.9% vs 2024
2019 → 2025
Working capital
€-175k
2024 · €677k
2019: €-310klowest in 7 years
2020: €-141k▲ +54.4% vs 2019
2021: €-5k▲ +96.3% vs 2020
2022: €166k▲ +3255% vs 2021
2023: €280k▲ +68.7% vs 2022
2024: €677k▲ +141% vs 2023highest in 7 years
2025: €-175k▼ -126% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.12M-€1.28M▲ 13.9%€1.36M▲ 6.2%€1.45M▲ 6.9%€1.56M▲ 7.8%
2021: €1.12Mlowest in 5 years
2022: €1.28M▲ +13.9% vs 2021
2023: €1.36M▲ +6.2% vs 2022
2024: €1.45M▲ +6.9% vs 2023
2025: €1.56M▲ +7.8% vs 2024highest in 5 years
Operating result€244k-€226k▼ 7.5%€141k▼ 37.7%€200k▲ 42.1%€234k▲ 17.0%
2021: €244khighest in 5 years
2022: €226k▼ -7.5% vs 2021
2023: €141k▼ -37.7% vs 2022lowest in 5 years
2024: €200k▲ +42.1% vs 2023
2025: €234k▲ +17.0% vs 2024
Net result€157k-€156k▼ 0.5%€79k▼ 49.5%€94k▲ 19.0%€113k▲ 20.9%
2021: €157khighest in 5 years
2022: €156k▼ -0.5% vs 2021
2023: €79k▼ -49.5% vs 2022lowest in 5 years
2024: €94k▲ +19.0% vs 2023
2025: €113k▲ +20.9% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 17% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.66M
Fixed assets
€3.29M ▲ 44.3%
Current assets
€368k ▼ 67.7%
Equity and liabilities €3.66M
Equity
€1.56M ▲ 7.8%
Debt
€2.10M ▲ 6.5%
Debt's share of the balance-sheet total falls from 57.6% to 57.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€556k▲
2024 · €357k
Cash flow
€435k▲
2024 · €251k
Current ratio
0.68▼
2024 · 2.47
Debt to equity
1.34▼
2024 · 1.36
ROE
7.3%▲
2024 · 6.5%
ROA
3.1%▲
2024 · 2.7%
Interest coverage
7.37▲
2024 · 5.11
Debt ≤ 1 year
€543k▲
2024 · €461k
Debt > 1 year
€1.54M▲
2024 · €1.50M
Income taxes
€48k▲
2024 · €39k
Staff costs
€124k=
2024 · €124k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.42M€3.66M▲
Fixed assets21/28€2.28M€3.29M▲
Tangible fixed assets22/27€2.28M€3.29M▲
Land and buildings22€2.28M€3.29M▲
Furniture and vehicles24€5k€3k▼
Current assets29/58€1.14M€368k▼
Stocks and contracts in progress3€794k-
Stocks30/36€794k-
Amounts receivable within one year40/41€107k€171k▲
Trade receivables40€67k€132k▲
Other amounts receivable41€40k€39k▼
Current investments50/53€81k-
Cash at bank and in hand54/58€153k€194k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€3.42M€3.66M▲
Equity10/15€1.45M€1.56M▲
Contributions10/11€19k€19k=
Reserves13€1.43M€1.54M▲
Tax-exempt reserves132€35€35=
Distributable reserves133€1.43M€1.54M▲
Amounts payable17/49€1.97M€2.10M▲
Amounts payable after more than one year17€1.50M€1.54M▲
Financial debts170/4€1.50M€1.54M▲
Amounts payable within one year42/48€461k€543k▲
Current portion of amounts payable after more than one year42€113k€166k▲
Trade debts44€80k€87k▲
Suppliers440/4€80k€87k▲
Taxes, remuneration and social security45€45k€115k▲
Taxes450/3€20k€90k▲
Remuneration and social security454/9€25k€25k▲
Other amounts payable47/48€224k€175k▼
Accrued charges and deferred income492/3€15k€17k▲
Income statement
Code20242025
Remuneration, social security and pensions62€124k€124k=
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€157k€322k▲
Other operating charges640/8€7k€23k▲
Gross operating margin9900€488k€703k▲
Operating profit (loss)9901€200k€234k▲
Financial income75/76B€3k€3k▲
Recurring financial income75€3k€3k▲
Financial charges65/66B€70k€75k▲
Recurring financial charges65€70k€75k▲
Profit (loss) for the period before taxes9903€133k€162k▲
Income taxes67/77€39k€48k▲
Profit (loss) for the period9904€94k€113k▲
Profit (loss) for the period to be appropriated9905€94k€113k▲
Appropriation of the result
Profit (loss) to be appropriated9906€94k€113k▲
Transfer to equity691/2€94k€113k▲
To other reserves6921€94k€113k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €109k | €113k | €124k | €124k | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €122k | €123k | €247k | €157k | €322k | ▲ 105% |
| Other operating charges640/8 | - | €6k | €5k | €7k | €23k | ▲ 248% |
| Gross operating margin9900 | €481k | €465k | €506k | €488k | €703k | ▲ 44.1% |
| Operating profit (loss)9901 | €244k | €226k | €141k | €200k | €234k | ▲ 17.0% |
| Financial income75/76B | - | €12k | €1k | €3k | €3k | ▲ 15.3% |
| Recurring financial income75 | €39 | €12k | €1k | €3k | €3k | ▲ 15.3% |
| Financial charges65/66B | - | €14k | €31k | €70k | €75k | ▲ 7.9% |
| Recurring financial charges65 | €19k | €14k | €31k | €70k | €75k | ▲ 7.9% |
| Profit (loss) for the period before taxes9903 | €225k | €224k | €111k | €133k | €162k | ▲ 21.8% |
| Income taxes67/77 | €68k | €68k | €32k | €39k | €48k | ▲ 23.8% |
| Profit (loss) for the period9904 | €157k | €156k | €79k | €94k | €113k | ▲ 20.9% |
| Profit (loss) for the period to be appropriated9905 | €157k | €156k | €79k | €94k | €113k | ▲ 20.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.06M | €2.33M | €3.16M | €3.42M | €3.66M | ▲ 7.1% |
| Fixed assets21/28 | €1.79M | €1.66M | €2.43M | €2.28M | €3.29M | ▲ 44.3% |
| Tangible fixed assets22/27 | €1.79M | €1.66M | €2.43M | €2.28M | €3.29M | ▲ 44.3% |
| Land and buildings22 | - | €1.65M | €2.42M | €2.28M | €3.29M | ▲ 44.4% |
| Furniture and vehicles24 | - | €14k | €10k | €5k | €3k | ▼ 39.9% |
| Current assets29/58 | €269k | €668k | €729k | €1.14M | €368k | ▼ 67.7% |
| Stocks and contracts in progress3 | €53k | €411k | €460k | €794k | - | - |
| Stocks30/36 | - | €411k | €460k | €794k | - | - |
| Amounts receivable within one year40/41 | €111k | €18k | €110k | €107k | €171k | ▲ 59.2% |
| Trade receivables40 | - | €18k | €103k | €67k | €132k | ▲ 97.8% |
| Other amounts receivable41 | - | - | €8k | €40k | €39k | ▼ 4.4% |
| Current investments50/53 | - | - | - | €81k | - | - |
| Cash at bank and in hand54/58 | €104k | €237k | €157k | €153k | €194k | ▲ 26.2% |
| Deferred charges and accrued income490/1 | - | €2k | €1k | €2k | €4k | ▲ 78.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.06M | €2.33M | €3.16M | €3.42M | €3.66M | ▲ 7.1% |
| Equity10/15 | €1.12M | €1.28M | €1.36M | €1.45M | €1.56M | ▲ 7.8% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €1.10M | €1.26M | €1.34M | €1.43M | €1.54M | ▲ 7.9% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €35 | €35 | €35 | €35 | = |
| Distributable reserves133 | - | €1.26M | €1.34M | €1.43M | €1.54M | ▲ 7.9% |
| Amounts payable17/49 | €936k | €1.06M | €1.80M | €1.97M | €2.10M | ▲ 6.5% |
| Amounts payable after more than one year17 | €656k | €552k | €1.34M | €1.50M | €1.54M | ▲ 3.0% |
| Financial debts170/4 | - | €552k | €1.34M | €1.50M | €1.54M | ▲ 3.0% |
| Amounts payable within one year42/48 | €274k | €502k | €448k | €461k | €543k | ▲ 17.7% |
| Current portion of amounts payable after more than one year42 | - | €104k | €88k | €113k | €166k | ▲ 47.1% |
| Financial debts43 | - | €200k | €200k | - | - | - |
| Credit institutions430/8 | - | €200k | €200k | - | - | - |
| Trade debts44 | €34k | €38k | €42k | €80k | €87k | ▲ 9.3% |
| Suppliers440/4 | - | €38k | €42k | €80k | €87k | ▲ 9.3% |
| Taxes, remuneration and social security45 | - | €62k | €57k | €45k | €115k | ▲ 156% |
| Taxes450/3 | - | €40k | €33k | €20k | €90k | ▲ 343% |
| Remuneration and social security454/9 | - | €22k | €23k | €25k | €25k | ▲ 2.4% |
| Other amounts payable47/48 | - | €99k | €62k | €224k | €175k | ▼ 22.0% |
| Accrued charges and deferred income492/3 | - | €2k | €16k | €15k | €17k | ▲ 12.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €157k | €156k | €79k | €94k | €113k | ▲ 20.9% |
| + Depreciation and write-downs630 | €122k | €123k | €247k | €157k | €322k | ▲ 105% |
| Operating cash flow (approximation) | €279k | €279k | €326k | €251k | €435k | ▲ 73.4% |
| Investment in fixed assets (approximation) | - | €0 | €-1.01M | €-11k | €-1.33M | ▼ 11,974% |
| Change in cash | - | €133k | €-80k | €-3k | €40k | ▲ 1,398% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €79k ▼49.5%
Net result drops to €79k, the lowest in the series; recovery starts the following year.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2021
17-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
31-03
Financial
Equity above €1MEq €1.12M ▲16.3%
3 profitable years in a row build equity to €1.12M.
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Highest result since 2019net €160k ▲0.8%
Operating result €264k, net result €160k, both a record.
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2016
10-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Roeselare · 1 establishment unit since 2011
Ground area
5,288 m²
Building footprint
1,199 m²
Volume, LiDAR
8,779 m³
Parcel 36017A0928/00C000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
APOSAN
since 20112.199.624.557
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36017A0928/00C000 | Flanders | 5,288 m² | 1 · 1,199 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 1,003 EUR awarded · 1,003 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 51 EUR | 51 EUR |
| 2023 | 1 | 263 EUR | 548 EUR |
| 2022 | 1 | 689 EUR | 404 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
WARUPA GROUP
BE 0659.842.696
Waremme · Eq €1,562,647
A & S SOLUTIONS
BE 0478.548.708
Nazareth-De Pinte · Eq €1,562,333
BOWI
BE 0430.646.247
Sint-Genesius-Rode · Eq €1,562,144
SEETAL
BE 0825.384.084
Ieper · Eq €1,563,131
C. VERBEKE
BE 0865.450.034
Poperinge · Eq €1,564,191
Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 22,933 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-04-2011
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.