APPELS+
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 03-01-2026 PDF all 4 filings
Every figure per financial year
The operating result for 2025 is a loss of €4,928, after a profit of €6,335 in 2024.
Staff
| Item | 30-06-2023 |
|---|---|
| Employees at the balance-sheet date | 3 |
| part-time | 3 |
| in full-time equivalents | 1.6 |
| Average over the year, in full-time equivalents | 1.3 |
| Joined | 13 |
| Left | 13 |
Source: social balance sheet in the 2023 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Financial fixed assets | €10,800 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | €65,664 | - | - | - |
| Non-recurring operating income76A | - | - | €25,952 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €71,574 | - | €4,326 | - |
| Remuneration, social security and pensions62 | €14,411 | €17,666 | €11,723 | - | - |
| Other operating charges640/8 | €2,386 | €88 | €1,506 | €602 | ▼ 60.0% |
| Gross operating margin9900 | -€1,695 | -€5,778 | €19,564 | -€4,326 | - |
| Operating profit (loss)9901 | -€18,492 | -€23,532 | €6,335 | -€4,928 | - |
| Financial income75/76B | €2 | €1 | - | €1 | - |
| Recurring financial income75 | €2 | €1 | - | €1 | - |
| Financial charges65/66B | €262 | €83 | €171 | €20 | ▼ 88.5% |
| Recurring financial charges65 | €262 | €83 | €171 | €20 | ▼ 88.5% |
| Profit (loss) for the period before taxes9903 | -€18,752 | -€23,614 | €6,163 | -€4,947 | - |
| Income taxes67/77 | - | - | - | €42 | - |
| Profit (loss) for the period9904 | -€18,752 | -€23,614 | €6,163 | -€4,989 | - |
| Profit (loss) for the period to be appropriated9905 | -€18,752 | -€23,614 | €6,163 | -€4,989 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €11,190 | €31,566 | €27,748 | €3,746 | ▼ 86.5% |
| Fixed assets21/28 | €10,800 | €10,800 | €10,800 | - | - |
| Financial fixed assets28 | €10,800 | €10,800 | €10,800 | - | - |
| Current assets29/58 | €390 | €20,766 | €16,948 | €3,746 | ▼ 77.9% |
| Amounts receivable within one year40/41 | €288 | €18,182 | €13,000 | €3,746 | ▼ 71.2% |
| Trade receivables40 | - | €18,182 | €13,000 | - | - |
| Other amounts receivable41 | €288 | - | - | €3,746 | - |
| Cash at bank and in hand54/58 | €102 | €2,584 | €3,948 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €11,190 | €31,566 | €27,748 | €3,746 | ▼ 86.5% |
| Equity10/15 | -€10,752 | -€34,365 | €5,441 | €451 | ▼ 91.7% |
| Contributions10/11 | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Profit (loss) carried forward14 | -€18,752 | -€42,365 | -€2,559 | -€7,549 | ▼ 195% |
| Amounts payable17/49 | €21,941 | €65,931 | €22,308 | €3,295 | ▼ 85.2% |
| Amounts payable within one year42/48 | €21,941 | €65,931 | €22,308 | €3,295 | ▼ 85.2% |
| Trade debts44 | €1,040 | €28,061 | €16,772 | €1,743 | ▼ 89.6% |
| Suppliers440/4 | €1,040 | €28,061 | €16,772 | €1,743 | ▼ 89.6% |
| Taxes, remuneration and social security45 | €5,641 | €20,042 | €4,796 | - | - |
| Taxes450/3 | €4,745 | €5,383 | €4,103 | - | - |
| Remuneration and social security454/9 | €896 | €14,659 | €693 | - | - |
| Other amounts payable47/48 | €15,261 | €17,829 | €740 | €1,552 | ▲ 110% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,752 | -€23,614 | €6,163 | -€4,989 | - |
| Operating cash flow (approximation) | -€18,752 | -€23,614 | €6,163 | -€4,989 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - |
| Change in cash | - | €2,482 | €1,365 | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,133 companies had the same profile as APPELS+ has now. Two years later, 86.4% were still going and 6.4% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of APPELS+ itself: 4.9% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,133 companies, not a prediction for APPELS+. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.