APPART
ActiveSummary
APPART has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €830,519 and a net result of -€123,044. Equity is growing by ~3.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability17▲+3
Solvency44▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.27 against 1.29 in 2024; short-term debt: 60.8% and cash: 0.4% of total assets), and 80.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
19.2%
Return on assets
-2.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
18202122232425
2018 to 2025 · latest year -€123,044
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-09-2026, 53 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
53 d late
2024
256 d late
2023
70 d late
2022
31 d late
2021
31 d late
2020
61 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 85 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€830,519▼ 12.9%
2024 · €953,562
Total assets
€4.3m▼ 0.2%
2024 · €4.3m
Net result
-€123,044▲ 29.3%
2024 · -€173,915
Working capital
€697,418▼ 5.5%
2024 · €738,287
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€535,831€175,323▼ 67.3%-€55,012-€92,406▼ 68.0%-€66,740▲ 27.8%
Net result€353,456€69,348▼ 80.4%-€127,025-€173,915▼ 36.9%-€123,044▲ 29.3%
Equity€1.2m▲ 42.5%€1.3m▲ 5.9%€1.1m▼ 10.1%€953,562▼ 15.4%€830,519▼ 12.9%
Total assets€3.6m▲ 0.6%€3.2m▼ 12.0%€4.0m▲ 24.9%€4.3m▲ 9.2%€4.3m▼ 0.2%
Debt€1.8m▼ 15.3%€1.3m▼ 27.2%€2.3m▲ 68.1%€2.8m▲ 23.7%€2.9m▲ 4.1%
Working capital€733,893▼ 49.4%€860,139▲ 17.2%€803,476▼ 6.6%€738,287▼ 8.1%€697,418▼ 5.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Net result -80% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €66,740 in 2025 against €92,406 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.3m
Fixed assets
€992,699 ▼ 2.7%
Current assets
€3.3m ▲ 0.6%
Equity and liabilities €4.3m
Equity
€830,519 ▼ 12.9%
Provisions
€566,780 =
Debt
€2.9m ▲ 4.1%
Debt's share of the balance-sheet total rises from 64.8% to 67.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€11,336▲
2024 · -€22,377
Cash flow
-€44,968▲
2024 · -€103,885
Current ratio
1.27▼
2024 · 1.29
Quick ratio
0.01▲
2024 · 0.00
Debt to equity
3.51▲
2024 · 2.94
ROE
-14.8%▲
2024 · -18.2%
ROA
-2.9%▲
2024 · -4.0%
Interest coverage
0.20▲
2024 · -0.28
Debt ≤ 1 year
€2.6m▲
2024 · €2.6m
Income taxes
-€934▼
2024 · €311
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,419 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
0.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,419 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52,007 | €55,721 | €57,634 | €70,030 | €78,076 | ▲ 11.5% |
| Other operating charges640/8 | €10,063 | €11,350 | €12,341 | €12,536 | €20,574 | ▲ 64.1% |
| Gross operating margin9900 | €597,902 | €242,394 | €14,963 | -€9,841 | €31,910 | ▲ 424% |
| Operating profit (loss)9901 | €535,831 | €175,323 | -€55,012 | -€92,406 | -€66,740 | ▲ 27.8% |
| Financial income75/76B | €0 | €0 | - | €66 | €102 | ▲ 54.8% |
| Recurring financial income75 | €0 | €0 | - | €66 | €102 | ▲ 54.8% |
| Financial charges65/66B | €82,738 | €69,115 | €71,855 | €81,263 | €57,340 | ▼ 29.4% |
| Recurring financial charges65 | €82,738 | €69,115 | €71,855 | €81,263 | €57,340 | ▼ 29.4% |
| Profit (loss) for the period before taxes9903 | €453,094 | €106,209 | -€126,867 | -€173,603 | -€123,978 | ▲ 28.6% |
| Income taxes67/77 | €99,638 | €36,861 | €158 | €311 | -€934 | ▼ 400% |
| Profit (loss) for the period9904 | €353,456 | €69,348 | -€127,025 | -€173,915 | -€123,044 | ▲ 29.3% |
| Profit (loss) for the period to be appropriated9905 | €353,456 | €69,348 | -€127,025 | -€173,915 | -€123,044 | ▲ 29.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.6m | €3.2m | €4.0m | €4.3m | €4.3m | ▼ 0.2% |
| Fixed assets21/28 | €1.1m | €1.0m | €1.0m | €1.0m | €992,699 | ▼ 2.7% |
| Tangible fixed assets22/27 | €1.1m | €1.0m | €1.0m | €1.0m | €992,699 | ▼ 2.7% |
| Plant, machinery and equipment23 | €1,844 | €1,274 | €706 | €136 | - | - |
| Furniture and vehicles24 | €3,617 | €2,907 | €58,992 | €86,102 | €112,943 | ▲ 31.2% |
| Other tangible fixed assets26 | €1.1m | €1.0m | €988,638 | €934,197 | €879,756 | ▼ 5.8% |
| Current assets29/58 | €2.5m | €2.1m | €2.9m | €3.3m | €3.3m | ▲ 0.6% |
| Stocks and contracts in progress3 | €2.4m | €2.1m | €2.9m | €3.3m | €3.3m | ▲ 0.3% |
| Stocks30/36 | €2.4m | €2.1m | €2.9m | €3.3m | €3.3m | ▲ 0.3% |
| Amounts receivable within one year40/41 | €12,057 | €4,197 | €3,835 | €695 | €149 | ▼ 78.6% |
| Trade receivables40 | €695 | €695 | €695 | €695 | - | - |
| Other amounts receivable41 | €11,362 | €3,501 | €3,139 | - | €149 | - |
| Cash at bank and in hand54/58 | €64,950 | €32,248 | €11,554 | €5,255 | €17,573 | ▲ 234% |
| Deferred charges and accrued income490/1 | €6,131 | €3,209 | €5,361 | €6,795 | €6,758 | ▼ 0.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.6m | €3.2m | €4.0m | €4.3m | €4.3m | ▼ 0.2% |
| Equity10/15 | €1.2m | €1.3m | €1.1m | €953,562 | €830,519 | ▼ 12.9% |
| Contributions10/11 | €740,400 | €740,400 | €740,400 | €740,400 | €740,400 | = |
| Capital10 | €740,400 | €740,400 | €740,400 | €740,400 | - | - |
| Issued capital100 | €1.3m | €1.3m | €1.3m | €1.3m | - | - |
| Uncalled capital101 | €528,600 | €528,600 | €528,600 | €528,600 | - | - |
| Reserves13 | €566,470 | €635,818 | €635,818 | €635,818 | €635,818 | = |
| Non-distributable reserves130/1 | €132,240 | €132,240 | €132,240 | €132,240 | €132,240 | = |
| Legal reserve130 | €132,240 | €132,240 | €132,240 | €132,240 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €132,240 | - |
| Distributable reserves133 | €434,230 | €503,578 | €503,578 | €503,578 | €503,578 | = |
| Profit (loss) carried forward14 | -€121,715 | -€121,715 | -€248,740 | -€422,655 | -€545,699 | ▼ 29.1% |
| Provisions and deferred taxes16 | €566,780 | €566,780 | €566,780 | €566,780 | €566,780 | = |
| Provisions for liabilities and charges160/5 | €566,780 | €566,780 | €566,780 | €566,780 | €566,780 | = |
| Pensions and similar obligations160 | €566,780 | €566,780 | €566,780 | €566,780 | €566,780 | = |
| Amounts payable17/49 | €1.8m | €1.3m | €2.3m | €2.8m | €2.9m | ▲ 4.1% |
| Amounts payable within one year42/48 | €1.8m | €1.3m | €2.1m | €2.6m | €2.6m | ▲ 2.4% |
| Financial debts43 | €1.5m | €960,000 | €1.7m | €2.2m | €2.2m | = |
| Other loans439 | €1.5m | €960,000 | €1.7m | €2.2m | €2.2m | = |
| Trade debts44 | €73,695 | €50,868 | €109,766 | €98,503 | €82,979 | ▼ 15.8% |
| Suppliers440/4 | €73,695 | €50,868 | €109,766 | €98,503 | €82,979 | ▼ 15.8% |
| Taxes, remuneration and social security45 | €1,120 | €5,120 | €6,278 | €1,432 | - | - |
| Taxes450/3 | €1,120 | €5,120 | €6,278 | €1,432 | - | - |
| Other amounts payable47/48 | €179,514 | €245,078 | €296,031 | €304,059 | €382,075 | ▲ 25.7% |
| Accrued charges and deferred income492/3 | €84,937 | €86,116 | €157,555 | €238,380 | €292,818 | ▲ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €353,456 | €69,348 | -€127,025 | -€173,915 | -€123,044 | ▲ 29.3% |
| + Depreciation and write-downs630 | €52,007 | €55,721 | €57,634 | €70,030 | €78,076 | ▲ 11.5% |
| Operating cash flow (approximation) | €405,463 | €125,069 | -€69,391 | -€103,885 | -€44,968 | ▲ 56.7% |
| Investment in fixed assets (approximation) | - | -€1 | -€58,710 | -€42,129 | -€50,340 | ▼ 19.5% |
| Change in cash | - | -€32,703 | -€20,693 | -€6,299 | €12,319 | ▲ 296% |
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
2026
22-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 53 days late
13-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 256 days late
2024
09-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 70 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Back to profitnet €353,456
Net result €353,456 after 2 loss-making years.
31-12
Financial
Equity above €1mEq €1.2m ▲42.5%
Equity rises from €831,699 to €1.2m.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
31-12
Financial
Equity above €500,000Eq €831,699 ▲104%
Equity rises from €408,361 to €831,699.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
14-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-07
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 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Antwerpen · 1 establishment unit since 2014
Ground area
244 m²
Building footprint
244 m²
Volume, LiDAR
3,837 m³
Parcel 11811L3579/00P002, Flanders · tallest building 27.2 m, ±8 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
APPART
since 20142.236.498.811
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3579/00P002 | Flanders | 244 m² | 1 · 244 m² | 27.1 m · 8 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded21-10-2014
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.