APPCO
ActiveSummary
APPCO has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €56,552 and a net result of €1,263. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 34% of 7794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-61
Solvency56▲+2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity tight (current ratio 1.44 against 1.41 in 2024; short-term debt: 69.5% and cash: 1% of total assets), and 69.5% of the assets are financed with debt.
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Signals
Three 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 07-01-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
22 d early
2023
13 d early
2022
14 d early
2021
18 d early
2020
19 d early
2019
31 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 20 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€56,552▲ 2.3%
2024 · €55,290
Total assets
€185,407▼ 2.4%
2024 · €189,902
Net result
€1,263▼ 98.1%
2024 · €65,439
Working capital
€56,552▲ 2.3%
2024 · €55,290
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-€28,306-€867▲ 96.9%€5,788€73,154▲ 1,164%€711▼ 99.0%
Net result-€32,884-€5,370▲ 83.7%€1,828€65,439▲ 3,480%€1,263▼ 98.1%
Equity-€6,607-€11,977▼ 81.3%-€10,149▲ 15.3%€55,290€56,552▲ 2.3%
Total assets€231,573▲ 9.1%€239,937▲ 3.6%€222,297▼ 7.4%€189,902▼ 14.6%€185,407▼ 2.4%
Debt€238,180▲ 28.1%€251,914▲ 5.8%€232,446▼ 7.7%€134,612▼ 42.1%€128,855▼ 4.3%
Working capital-€127,673▼ 75.8%-€137,802▼ 7.9%-€141,521▼ 2.7%€55,290€56,552▲ 2.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 99% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €185,407
Equity
€56,552 ▲ 2.3%
Debt
€128,855 ▼ 4.3%
Debt's share of the balance-sheet total falls from 70.9% to 69.5%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
1.44▲
2024 · 1.41
Debt to equity
2.28▼
2024 · 2.43
ROE
2.2%▼
2024 · 118.4%
ROA
0.7%▼
2024 · 34.5%
Debt ≤ 1 year
€128,855▼
2024 · €134,612
Income taxes
€316▼
2024 · €6,326
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €111 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,244 | €9,324 | €7,731 | €8 | - | - |
| Other operating charges640/8 | - | €1,129 | €1,151 | €138,292 | €686 | ▼ 99.5% |
| Non-recurring operating charges66A | - | - | - | €152,480 | - | - |
| Gross operating margin9900 | -€18,932 | €9,586 | €14,670 | €363,935 | €1,398 | ▼ 99.6% |
| Operating profit (loss)9901 | -€28,306 | -€867 | €5,788 | €73,154 | €711 | ▼ 99.0% |
| Financial income75/76B | - | €91 | €1 | €225 | €1,293 | ▲ 474% |
| Recurring financial income75 | - | €91 | €1 | €225 | €1,293 | ▲ 474% |
| Financial charges65/66B | - | €4,594 | €3,960 | €1,615 | €426 | ▼ 73.6% |
| Recurring financial charges65 | €4,577 | €4,594 | €3,960 | €1,615 | €426 | ▼ 73.6% |
| Profit (loss) for the period before taxes9903 | -€32,884 | -€5,370 | €1,828 | €71,765 | €1,578 | ▼ 97.8% |
| Income taxes67/77 | - | - | - | €6,326 | €316 | ▼ 95.0% |
| Profit (loss) for the period9904 | -€32,884 | -€5,370 | €1,828 | €65,439 | €1,263 | ▼ 98.1% |
| Profit (loss) for the period to be appropriated9905 | -€32,884 | -€5,370 | €1,828 | €65,439 | €1,263 | ▼ 98.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €231,573 | €239,937 | €222,297 | €189,902 | €185,407 | ▼ 2.4% |
| Fixed assets21/28 | €226,452 | €218,392 | €210,660 | - | - | - |
| Tangible fixed assets22/27 | €225,962 | €217,902 | €210,170 | - | - | - |
| Land and buildings22 | - | €216,428 | €210,162 | - | - | - |
| Furniture and vehicles24 | - | €1,474 | €8 | - | - | - |
| Financial fixed assets28 | €490 | €490 | €490 | - | - | - |
| Current assets29/58 | €5,121 | €21,546 | €11,637 | €189,902 | €185,407 | ▼ 2.4% |
| Amounts receivable within one year40/41 | €3,435 | €17,000 | €7,097 | €2,783 | €279 | ▼ 90.0% |
| Trade receivables40 | - | €17,000 | €6,440 | €2,783 | €207 | ▼ 92.6% |
| Other amounts receivable41 | - | - | €657 | - | €72 | - |
| Current investments50/53 | - | - | - | €183,725 | €183,330 | ▼ 0.2% |
| Cash at bank and in hand54/58 | €1,687 | €4,546 | €4,540 | €3,393 | €1,799 | ▼ 47.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €231,573 | €239,937 | €222,297 | €189,902 | €185,407 | ▼ 2.4% |
| Equity10/15 | -€6,607 | -€11,977 | -€10,149 | €55,290 | €56,552 | ▲ 2.3% |
| Contributions10/11 | - | €28,000 | €28,000 | €28,000 | €28,000 | = |
| Profit (loss) carried forward14 | -€34,607 | -€39,977 | -€38,149 | €27,290 | €28,552 | ▲ 4.6% |
| Amounts payable17/49 | €238,180 | €251,914 | €232,446 | €134,612 | €128,855 | ▼ 4.3% |
| Amounts payable after more than one year17 | €105,386 | €92,567 | €79,288 | - | - | - |
| Financial debts170/4 | - | €92,567 | €79,288 | - | - | - |
| Amounts payable within one year42/48 | €132,794 | €159,348 | €153,158 | €134,612 | €128,855 | ▼ 4.3% |
| Current portion of amounts payable after more than one year42 | - | €12,819 | €13,278 | - | - | - |
| Trade debts44 | €743 | €5,068 | €1,818 | €2,713 | €4,550 | ▲ 67.7% |
| Suppliers440/4 | - | €5,068 | €1,818 | €2,713 | €4,550 | ▲ 67.7% |
| Taxes, remuneration and social security45 | - | €2,800 | - | €6,688 | €594 | ▼ 91.1% |
| Taxes450/3 | - | - | - | €6,688 | €594 | ▼ 91.1% |
| Remuneration and social security454/9 | - | €2,800 | - | - | - | - |
| Other amounts payable47/48 | - | €138,661 | €138,061 | €125,211 | €123,711 | ▼ 1.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€32,884 | -€5,370 | €1,828 | €65,439 | €1,263 | ▼ 98.1% |
| + Depreciation and write-downs630 | €8,244 | €9,324 | €7,731 | €8 | - | - |
| Operating cash flow (approximation) | -€24,639 | €3,954 | €9,559 | €65,447 | €1,263 | ▼ 98.1% |
| Investment in fixed assets (approximation) | - | -€1,264 | €0 | - | - | - |
| Change in cash | - | €2,859 | -€6 | -€1,147 | -€1,595 | ▼ 39.1% |
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
07-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
09-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Highest result since 2019net €65,439 ▲3,480%
Operating result €73,154, net result €65,439, both a record.
30-06
Financial
Liquidity times 19current ratio 1.41
Current ratio from 0.08 to 1.41; short-term debt falls from €153,158 to €134,612.
18-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €1,828
Net result €1,828 after 2 loss-making years.
17-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Weakest financial yearnet -€32,884
Net result drops to -€32,884, the lowest in the series; recovery starts the following year.
12-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-01
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 6 acts read
About the unread acts
We know of 6 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
6 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, Gent · 1 establishment unit since 1994
Ground area
129 m²
Building footprint
179 m²
Volume, LiDAR
1,446 m³
Parcel 44808H0687/00B002, Flanders · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
APPCO
since 19942.065.223.040
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0687/00B002 | Flanders | 129 m² | 1 · 179 m² | 9.8 m · 3 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.
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Of 24,515 companies in sector 82990 we hold annual accounts for 9,413. 6,994 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
Founded06-01-1994
Fiscal year end30-06
Activities, NACEBEL 2025
82990Other business support services
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.