APPARTHOME
ActiveSummary
APPARTHOME has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€110,425) and a net result of -€90,034. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 7% of 2220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-41
Solvency2▼-20
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.81 against 0.97 in 2024; short-term debt: 122.9% and cash: 0% of total assets), and equity is negative.
Credit check for your own amount and term
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Signals
Six 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-22.9%
Return on assets
-18.7%
Age of the figures
12 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
192122232425
2019 to 2025 · latest year -€110,425
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 23-04-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
on the day
2023
20 d early
2022
108 d early
2021
2 d early
2019
on the day
2017
10 d late
← 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 18 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 23 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 oldest company in Knokke-Heist, Construction sector
Equity
-€110,425▼ 442%
2024 · -€20,391
Total assets
€482,343▼ 38.0%
2024 · €778,348
Net result
-€90,034
2024 · €9,817
Working capital
-€110,425▼ 442%
2024 · -€20,391
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1.3m--€224,650▲ 83.1%€33,039€17,492▼ 47.1%-€89,756
Net result-€1.5mbelow the sector's middle half--€240,068below the sector's middle half▲ 83.9%€13,141within the sector's middle half€9,817within the sector's middle half▼ 25.3%-€90,034below the sector's middle half
Equity-€1.6mbelow the sector's middle half--€1.8mbelow the sector's middle half▼ 15.0%-€30,207below the sector's middle half▲ 98.4%-€20,391below the sector's middle half▲ 32.5%-€110,425below the sector's middle half▼ 442%
Total assets€509,014within the sector's middle half-€47,015below the sector's middle half▼ 90.8%€472,778within the sector's middle half▲ 906%€778,348within the sector's middle half▲ 64.6%€482,343within the sector's middle half▼ 38.0%
Debt€2.1m-€1.9m▼ 10.5%€502,985▼ 73.4%€798,739▲ 58.8%€592,768▼ 25.8%
Working capital-€1.6mbelow the sector's middle half--€1.8mbelow the sector's middle half▼ 18.0%-€30,207below the sector's middle half▲ 98.4%-€20,391below the sector's middle half▲ 32.5%-€110,425below the sector's middle half▼ 442%
Solvency-314.9%below the sector's middle half--6.4%below the sector's middle half-2.6%below the sector's middle half▲ 3.8pp-22.9%below the sector's middle half▼ 20.3pp
Current ratio0.25below the sector's middle half-0.02below the sector's middle half▼ 0.220.94below the sector's middle half▲ 0.920.97below the sector's middle half▲ 0.030.81below the sector's middle half▼ 0.16
Return on assets (ROA)-292.8%below the sector's middle half--510.6%below the sector's middle half▼ 217.8pp2.8%within the sector's middle half▲ 513.4pp1.3%within the sector's middle half▼ 1.5pp-18.7%below the sector's middle half▼ 19.9pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2022 Net result +84% on 2021. The previous fiscal year ran 22 months, this one 12.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €89,756 after €17,492 in 2024.
Key figures and ratios
Quick ratio
0.00▼
2024 · 0.38
Debt to equity
-5.37▲
2024 · -39.17
Debt ≤ 1 year
€592,768▼
2024 · €798,739
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 678 companies that looked in July 2024 the way this one looks now, 6.8% went bankrupt within 24 months and 85% are still going.
- Small
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
6.8%
went bankrupt
6.2%
stopped otherwise
85%
still going
A further 2.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 678 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €39,334 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €260 | €36 | €0 | - | - | - |
| Other operating charges640/8 | €1,447 | €5,205 | €256 | €1,929 | €613 | ▼ 68.2% |
| Non-recurring operating charges66A | - | - | - | €368 | €0 | ▼ 100% |
| Gross operating margin9900 | -€1.3m | -€219,409 | €33,294 | €19,789 | -€89,142 | ▼ 550% |
| Operating profit (loss)9901 | -€1.3m | -€224,650 | €33,039 | €17,492 | -€89,756 | ▼ 613% |
| Financial income75/76B | €0 | €0 | €0 | €339 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | €0 | €0 | €339 | €0 | ▼ 100% |
| Financial charges65/66B | €157,609 | €15,418 | €19,898 | €8,015 | €278 | ▼ 96.5% |
| Recurring financial charges65 | €157,609 | €15,418 | €19,898 | €8,015 | €278 | ▼ 96.5% |
| Profit (loss) for the period before taxes9903 | -€1.5m | -€240,068 | €13,141 | €9,817 | -€90,034 | ▼ 1,017% |
| Profit (loss) for the period9904 | -€1.5m | -€240,068 | €13,141 | €9,817 | -€90,034 | ▼ 1,017% |
| Profit (loss) for the period to be appropriated9905 | -€1.5m | -€240,068 | €13,141 | €9,817 | -€90,034 | ▼ 1,017% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €509,014 | €47,015 | €472,778 | €778,348 | €482,343 | ▼ 38.0% |
| Fixed assets21/28 | €836 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €36 | €0 | - | - | - | - |
| Other tangible fixed assets26 | €36 | €0 | - | - | - | - |
| Financial fixed assets28 | €800 | €0 | - | - | - | - |
| Current assets29/58 | €508,178 | €47,015 | €472,778 | €778,348 | €482,343 | ▼ 38.0% |
| Stocks and contracts in progress3 | €506,309 | €29,337 | €452,467 | €473,821 | €482,262 | ▲ 1.8% |
| Stocks30/36 | €506,309 | €29,337 | €452,467 | €473,821 | €482,262 | ▲ 1.8% |
| Amounts receivable within one year40/41 | €368 | €11,834 | €19,638 | €304,255 | €0 | ▼ 100% |
| Trade receivables40 | €368 | €11,834 | €19,638 | €304,205 | €0 | ▼ 100% |
| Other amounts receivable41 | €0 | - | - | €50 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1,501 | €5,844 | €673 | €273 | €81 | ▼ 70.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €509,014 | €47,015 | €472,778 | €778,348 | €482,343 | ▼ 38.0% |
| Equity10/15 | -€1.6m | -€1.8m | -€30,207 | -€20,391 | -€110,425 | ▼ 442% |
| Contributions10/11 | €880,000 | €880,000 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €880,000 | €880,000 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €880,000 | €880,000 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €105,808 | €105,808 | €17,972 | €17,972 | €17,972 | = |
| Non-distributable reserves130/1 | €105,808 | €105,808 | €17,972 | €17,972 | €17,972 | = |
| Legal reserve130 | €17,972 | €17,972 | €17,972 | €17,972 | €17,972 | = |
| Reserves not available under the articles1311 | €87,836 | €87,836 | €0 | - | - | - |
| Profit (loss) carried forward14 | -€2.6m | -€2.8m | -€109,680 | -€99,863 | -€189,897 | ▼ 90.2% |
| Amounts payable17/49 | €2.1m | €1.9m | €502,985 | €798,739 | €592,768 | ▼ 25.8% |
| Amounts payable within one year42/48 | €2.1m | €1.9m | €502,985 | €798,739 | €592,768 | ▼ 25.8% |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €315,139 | €70,550 | €99,454 | €49,614 | €122,579 | ▲ 147% |
| Suppliers440/4 | €315,139 | €70,550 | €99,454 | €49,614 | €122,579 | ▲ 147% |
| Advances received on contracts in progress46 | €0 | - | €205,000 | €470,000 | €470,000 | = |
| Taxes, remuneration and social security45 | €26,804 | €17,194 | €5,964 | €0 | €189 | - |
| Taxes450/3 | €26,804 | €17,194 | €5,964 | €0 | €189 | - |
| Other amounts payable47/48 | €1.7m | €1.8m | €192,567 | €279,125 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €42,347 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.5m | -€240,068 | €13,141 | €9,817 | -€90,034 | ▼ 1,017% |
| + Depreciation and write-downs630 | €260 | €36 | €0 | - | - | - |
| Operating cash flow (approximation) | -€1.5m | -€240,032 | €13,141 | €9,817 | -€90,034 | ▼ 1,017% |
| Investment in fixed assets (approximation) | - | €800 | - | - | - | - |
| Change in cash | - | €4,343 | -€5,171 | -€401 | -€192 | ▲ 52.0% |
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
23-06
State Gazette act
Algemene Vergadering - BoekjaarPower of attorney2 facts ▸
State Gazette act
Algemene Vergadering - Boekjaar
Power of attorney2 facts ▸
- Other statement, Overgangsbepalingen, 31-12-2026
- Power of attorney, Thomas Dusselier
23-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Back to profitnet €13,141
Net result €13,141 after 3 loss-making years.
12-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Weakest financial yearnet -€1.5m
Net result drops to -€1.5m, the lowest in the series; recovery starts the following year.
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 10 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 61 days late
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 61 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Knokke-Heist · 1 establishment unit since 1987
Ground area
5,547 m²
Building footprint
2,349 m²
Volume, LiDAR
15,577 m³
2 parcels, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
NEBUBEL NV
since 19872.030.211.978
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31039A0224/00R000 | Flanders | 5,498 m² | 1 · 2,282 m² | 9.1 m · 2 fl. |
| 31332E1039/00A004 | Flanders | 48 m² | 1 · 67 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Financial year
From 1 January to 31 December
Annual meeting
First Monday of May at 17:00
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-09-1975
Fiscal year end30-09
Activities, NACEBEL 2025
41001General construction of residential buildings
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0415423680
Also
9925:BE0415423680
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.