Active BE 0760.969.750Private limited company

Apple Pie

Vlaanderenstraat 24 ·9000 Gent, Belgium· 5 yrs active

Sector: Non-specialised food retail (47110)

Conclusion Checked

The computed 12-month bankruptcy probability of Apple Pie is 3.2% (moderate). The 2025 annual accounts show equity of €223k and a net result of €-2k. Equity is growing by ~89% per year across the filed fiscal years. Its solvency ranks better than 42% of 478 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€223k
Net result	€-2k
Staff (FTE)	12.9
Better than sector	42%

Snowflake analysis 5 axes · computed by Checked

38 / 100

Fragile profile, watch profitability in particular.

Health 31

Profitability 0

Solvency 11

Growth 52

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

3.2% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Multiple establishment units +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 3 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.

Administratively compliant

No FOD Economie strikeouts (UBO, accounts, address, activity).

Administrative Flags 0 events

No administrative flags

Health barometer FY 2025 · computed

31 / 100 Weak

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview4 NBB filings

Annual accounts filed on 29-01-2026 with the NBB · fiscal year 2025 · verkort

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~89%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	17.0%	21.2%	better than 42% of 478 sector peers
Net result	€-2k	€33k	better than 27% of 476 sector peers
Equity	€223k	€166k	better than 56% of 478 sector peers
Gross operating margin	€939k	€282k	better than 83% of 478 sector peers
Staff costs	€714k	€212k	higher than 82% of 385 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€198k

+601.9% far above sector median

Net profit

€-2k

+99.1% far below sector median

Cash flow

€147k

- far above sector median

Total assets

€1.32M

-7.8% far above sector median

Equity

€223k

+204.7% far above sector median

Working capital

€-312k

+1.9% far below sector median

Employees (FTE)

13

+4.0% far above sector median

Staff costs

€714k

+6.3% far above sector median

Income taxes

€2k

+65.9% -25% vs sector

Debt

€1.09M

-19.3% far above sector median

Debt ≤ 1y

€625k

-7.2% far above sector median

Debt > 1y

€467k

-31.3% far above sector median

Current ratio

0.50

-5.1% -61% vs sector

Quick ratio

0.22

-23.4% -74% vs sector

Solvency

17.0%

+230.5% -37% vs sector

Debt / equity

4.89

-73.5% +56% vs sector

ROE

-0.7%

+99.7% far below sector median

ROA

-0.1%

+99.0% far below sector median

Interest coverage

4.04

+668.0% +50% vs sector

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Revenue	-
EBITDA	€198k
Net profit	€-2k
Cash flow	€147k
Staff costs	€714k
Income taxes	€2k
Dividends	-
Total assets	€1.32M
Equity	€223k
Debt	€1.09M
of which ≤ 1y	€625k
of which > 1y	€467k
Working capital	€-312k
Employees (FTE)	12.9

Ratios (computed)

	2025
Current ratio	0.50
Quick ratio	0.22
Working capital ratio	-23.7%
Solvency	17.0%
Debt / equity	4.89
Long-term debt ratio	2.09
Interest coverage	4.04
Gross margin	-
Net margin	-
ROA	-0.1%
ROE	-0.7%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €1.00M · 76.2% Current assets €313k · 23.8%

Equity & liabilities

Equity €223k · 17.0% Debt €1.09M · 83.0%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.32M
Fixed assets	21/28	€1.00M
Intangible fixed assets	21	€30k
Tangible fixed assets	22/27	€968k
Financial fixed assets	28	€4k
Current assets	29/58	€313k
Stocks & contracts in progress	3	€175k
Amounts receivable within one year	40/41	€86k
Cash & bank	54/58	€36k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.32M
Equity	10/15	€223k
Contributions / capital	10/11	€262k
Reserves	13	€135k
Accumulated profits (losses)	14	€-173k
Amounts payable	17/49	€1.09M
Amounts payable after one year	17	€467k
Amounts payable within one year	42/48	€625k
Trade debts payable within one year	44	€320k
Income statement
Gross operating margin	9900	€939k
Operating result	9901	€49k
Financial income	75	€0
Financial charges	65	€49k
Result before taxes	9903	€-39
Income taxes	67/77	€2k
Net result for the period	9904	€-2k
Result to be appropriated	9905	€-2k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	Non-specialised food retail(47110)
Legal form	Private limited company(610)
Incorporation	07-01-2021
Status	Active
Postal code	9000

Establishment units 3 locations

Joost Arijs

Vlaanderenstraat 24, 9000 GentAmbachtelijke vervaardiging van brood en van vers banketbakkerswerk

since 20212.312.073.687

The Bakery

Vlaanderenstraat 28, 9000 GentAmbachtelijke vervaardiging van brood en van vers banketbakkerswerk

since 20222.346.030.617

Kortrijksesteenweg 1086, 9051 Gent

Detailhandel in brood en banketbakkerswerk (koude bakkers)

since 20262.389.447.025

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44062A0288/00X005	Flanders	5,760 m²	1 · 1,917 m²	11.7 m · 3 fl.
44804D1716/00Y000	Flanders	418 m²	1 · 414 m²	22.2 m · 7 fl.
44804D1716/00Z000	Flanders	124 m²	1 · 83 m²	20.9 m · 6 fl.

Methodology

via registered seat: 1 · via establishment units: 2

3 of 3 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

29-01-2026

NBB filing Annual accounts filed

fiscal year 2025 · verkort

2025

02-05-2025

State Gazette act Director changes

Ann-Cathérine de Grave

30-01-2025

NBB filing Annual accounts filed

fiscal year 2024 · micro

2024

30-01-2024

NBB filing Annual accounts filed

fiscal year 2023 · micro

2022

21-12-2022

NBB filing Annual accounts filed

fiscal year 2022 · micro

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 1 year ago

2025

02-05-2025 5 directors appointed, 1 resigning Director changes·Ann-Cathérine de Grave

WOOTON, Niet-statutair bestuurder
VERSELE Jef Paul Martine Luk Greet, Niet-statutair bestuurder
DEROOSE Theresa Pascale Jeanne Mariette, Niet-statutair bestuurder
WOOTON, Dagelijks bestuur
De Baerdemaeker Elke, Dagelijks bestuur
Joost Arijs, Bestuurder

Notary: Ann-Cathérine de Grave · Kluisbergen

Original publication ↗

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Company registry (CBE) Crossroads Bank

Activities

Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen47110Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte = 2500 m²)47115Detailhandel in chocolade en suikerwerk in gespecialiseerde winkels47242Detailhandel in chocolade en suikerwerk47242Groothandel in suiker, chocolade en suikerwerk46360Groothandel in suiker, chocolade en suikerwerk46360Catering56210Catering van evenementen56210

Primary activity highlighted.

Names & trade names

Legal nameNL	Apple Pie
Trade nameNL	Apple Pie

Registered office

Vlaanderenstraat 24

9000 Gent, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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