APPLETREE
ActiveSummary
APPLETREE has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.0m and a net result of €497,387. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 38% of 19362 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability79▲+43
Solvency43▼-3
Growth58▲+6
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.35 against 0.26 in 2023; short-term debt: 45.1% and cash: 0% of total assets), and 82.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
17.7%
Return on assets
8.4%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-12-2025, 145 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
145 d late
2023
138 d late
2022
2 d late
2021
73 d late
2020
86 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 94 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€1.0m▼ 23.6%
2023 · €1.4m
Total assets
€5.9m▼ 10.8%
2023 · €6.6m
Net result
€497,387▲ 725%
2023 · €60,253
Working capital
-€1.7m▲ 20.7%
2023 · -€2.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Line20202021202220232024
Operating result-€43,478€46,262€38,827▼ 16.1%€153,398▲ 295%€534,400▲ 248%
Net result-€112,368below the sector's middle half▲ 52.2%€32,661within the sector's middle half€5,162within the sector's middle half▼ 84.2%€60,253within the sector's middle half▲ 1,067%€497,387above the sector's middle half▲ 725%
Equity€449,867within the sector's middle half▼ 20.0%€482,528within the sector's middle half▲ 7.3%€487,690within the sector's middle half▲ 1.1%€1.4mwithin the sector's middle half▲ 180%€1.0mabove the sector's middle half▼ 23.6%
Total assets€3.9mwithin the sector's middle half▼ 47.1%€3.7mwithin the sector's middle half▼ 4.8%€4.0mwithin the sector's middle half▲ 8.2%€6.6mabove the sector's middle half▲ 65.1%€5.9mabove the sector's middle half▼ 10.8%
Debt€3.0m▼ 52.9%€2.7m▼ 7.2%€3.1m▲ 11.1%€4.8m▲ 56.7%€4.4m▼ 8.0%
Working capital-€491,811▲ 58.2%-€541,126▼ 10.0%-€361,397▲ 33.2%-€2.2m▼ 499%-€1.7m▲ 20.7%
Solvency11.6%within the sector's middle half▲ 3.9pp13.1%within the sector's middle half▲ 1.5pp12.2%within the sector's middle half▼ 0.9pp20.7%within the sector's middle half▲ 8.5pp17.7%within the sector's middle half▼ 3.0pp
Staff (FTE)0.7below the sector's middle half=0.7below the sector's middle half=0.7within the sector's middle half=0within the sector's middle half▼ 100%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2024 Net result +725% on 2023. The accounts now follow the micro schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 248% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.9m
Fixed assets
€5.0m ▼ 15.5%
Current assets
€938,885 ▲ 26.2%
Equity and liabilities €5.9m
Equity
€1.0m ▼ 23.6%
Provisions
€449,102 ▼ 1.1%
Debt
€4.4m ▼ 8.0%
Debt's share of the balance-sheet total rises from 72.4% to 74.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€636,096▲
2023 · €214,854
Cash flow
€599,083▲
2023 · €121,709
Current ratio
0.35▲
2023 · 0.26
Debt to equity
4.21▲
2023 · 3.49
ROE
47.6%▲
2023 · 4.4%
ROA
8.4%▲
2023 · 0.9%
Interest coverage
9.65▲
2023 · 1.90
Debt ≤ 1 year
€2.7m▼
2023 · €2.9m
Debt > 1 year
€1.7m▼
2023 · €1.9m
Income taxes
€1,035▼
2023 · €5,115
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,602 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
2.0%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
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 2,602 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €33,765 | €24,689 | €3,356 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,785 | €82,572 | €61,096 | €61,455 | €101,696 | ▲ 65.5% |
| Other operating charges640/8 | - | €5,205 | €56,160 | €14,204 | €8,642 | ▼ 39.2% |
| Non-recurring operating charges66A | - | - | €18,621 | €0 | - | - |
| Gross operating margin9900 | €92,642 | €167,805 | €199,394 | €232,413 | €644,737 | ▲ 177% |
| Operating profit (loss)9901 | -€43,478 | €46,262 | €38,827 | €153,398 | €534,400 | ▲ 248% |
| Financial income75/76B | - | €38,404 | €44,062 | €19,885 | €24,912 | ▲ 25.3% |
| Recurring financial income75 | €18,744 | €38,404 | €44,062 | €19,885 | €24,912 | ▲ 25.3% |
| Financial charges65/66B | - | €55,432 | €81,744 | €112,927 | €65,902 | ▼ 41.6% |
| Recurring financial charges65 | €91,236 | €55,432 | €81,744 | €112,927 | €65,902 | ▼ 41.6% |
| Profit (loss) for the period before taxes9903 | -€115,969 | €29,234 | €1,145 | €60,356 | €493,410 | ▲ 717% |
| Transfer from deferred taxes780 | - | €5,012 | €5,012 | €5,012 | €5,012 | = |
| Income taxes67/77 | €1,411 | €1,586 | €995 | €5,115 | €1,035 | ▼ 79.8% |
| Profit (loss) for the period9904 | -€112,368 | €32,661 | €5,162 | €60,253 | €497,387 | ▲ 725% |
| Transfer from tax-exempt reserves789 | - | €15,036 | €15,036 | €15,036 | €15,036 | = |
| Profit (loss) for the period to be appropriated9905 | -€97,332 | €47,697 | €20,198 | €75,290 | €512,423 | ▲ 581% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.9m | €3.7m | €4.0m | €6.6m | €5.9m | ▼ 10.8% |
| Fixed assets21/28 | €2.6m | €2.9m | €3.1m | €5.9m | €5.0m | ▼ 15.5% |
| Tangible fixed assets22/27 | €2.6m | €2.9m | €3.1m | €5.0m | €5.0m | ▼ 1.1% |
| Land and buildings22 | - | €1.2m | €764,091 | €2.4m | €2.4m | ▼ 0.8% |
| Plant, machinery and equipment23 | - | €3,737 | €0 | - | - | - |
| Furniture and vehicles24 | - | €15,535 | €4,227 | €2,178 | €129 | ▼ 94.1% |
| Leasing and similar rights25 | - | €978,803 | €1.6m | €1.9m | €1.9m | ▼ 1.8% |
| Assets under construction and advance payments27 | - | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Financial fixed assets28 | €31,002 | €31,002 | €30,812 | €850,812 | €62 | ▼ 100.0% |
| Current assets29/58 | €1.3m | €793,729 | €894,712 | €743,707 | €938,885 | ▲ 26.2% |
| Amounts receivable after more than one year29 | - | - | €780,000 | €690,000 | €865,000 | ▲ 25.4% |
| Other amounts receivable291 | - | - | €780,000 | €690,000 | €865,000 | ▲ 25.4% |
| Amounts receivable within one year40/41 | €1.3m | €792,400 | €11,423 | €52,641 | €73,627 | ▲ 39.9% |
| Trade receivables40 | - | €56,922 | €11,423 | €37,809 | €73,627 | ▲ 94.7% |
| Other amounts receivable41 | - | €735,478 | €0 | €14,832 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €5,693 | €155 | €5,827 | €1,066 | €258 | ▼ 75.8% |
| Deferred charges and accrued income490/1 | - | €1,174 | €97,462 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.9m | €3.7m | €4.0m | €6.6m | €5.9m | ▼ 10.8% |
| Equity10/15 | €449,867 | €482,528 | €487,690 | €1.4m | €1.0m | ▼ 23.6% |
| Contributions10/11 | - | €530,000 | €530,000 | €530,000 | €530,000 | = |
| Revaluation surpluses12 | - | - | - | €820,000 | €0 | ▼ 100% |
| Reserves13 | €1.7m | €1.7m | €1.6m | €1.6m | €1.6m | ▼ 0.9% |
| Tax-exempt reserves132 | - | €1.4m | €1.4m | €1.4m | €1.3m | ▼ 1.1% |
| Distributable reserves133 | - | €267,232 | €267,232 | €267,232 | €267,232 | = |
| Profit (loss) carried forward14 | -€1.8m | -€1.7m | -€1.7m | -€1.6m | -€1.1m | ▲ 31.8% |
| Provisions and deferred taxes16 | €469,150 | €464,138 | €459,126 | €454,114 | €449,102 | ▼ 1.1% |
| Deferred taxes168 | - | €464,138 | €459,126 | €454,114 | €449,102 | ▼ 1.1% |
| Amounts payable17/49 | €3.0m | €2.7m | €3.1m | €4.8m | €4.4m | ▼ 8.0% |
| Amounts payable after more than one year17 | €1.2m | €1.4m | €1.8m | €1.9m | €1.7m | ▼ 6.9% |
| Financial debts170/4 | - | €1.4m | €1.6m | €1.7m | €1.6m | ▼ 7.4% |
| Other amounts payable178/9 | - | - | €170,833 | €120,833 | €120,833 | = |
| Amounts payable within one year42/48 | €1.8m | €1.3m | €1.3m | €2.9m | €2.7m | ▼ 8.7% |
| Current portion of amounts payable after more than one year42 | - | €99,503 | €148,932 | €197,757 | €146,742 | ▼ 25.8% |
| Financial debts43 | - | €550,929 | €550,000 | €276,231 | €3,018 | ▼ 98.9% |
| Credit institutions430/8 | - | €550,929 | €550,000 | €276,231 | €3,018 | ▼ 98.9% |
| Trade debts44 | €125,537 | €257,130 | €147,908 | €1.4m | €1.3m | ▼ 11.2% |
| Suppliers440/4 | - | €257,130 | €147,908 | €1.4m | €1.3m | ▼ 11.2% |
| Advances received on contracts in progress46 | - | €34,581 | €32,136 | €32,136 | €512,136 | ▲ 1,494% |
| Taxes, remuneration and social security45 | - | €133,245 | €121,721 | €132,317 | €73,498 | ▼ 44.5% |
| Taxes450/3 | - | €126,367 | €121,500 | €132,317 | €73,498 | ▼ 44.5% |
| Remuneration and social security454/9 | - | €6,879 | €221 | €0 | - | - |
| Other amounts payable47/48 | - | €259,467 | €255,413 | €829,397 | €641,957 | ▼ 22.6% |
| Accrued charges and deferred income492/3 | - | €3,212 | €0 | €2,400 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€112,368 | €32,661 | €5,162 | €60,253 | €497,387 | ▲ 725% |
| + Depreciation and write-downs630 | €89,785 | €82,572 | €61,096 | €61,455 | €101,696 | ▲ 65.5% |
| Operating cash flow (approximation) | -€22,583 | €115,233 | €66,258 | €121,709 | €599,083 | ▲ 392% |
| Investment in fixed assets (approximation) | - | -€395,424 | -€264,185 | -€2.8m | €804,643 | ▲ 129% |
| Change in cash | - | -€5,538 | €5,672 | -€4,761 | -€808 | ▲ 83.0% |
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
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 145 days late
2024
31-12
Financial
Highest result since 2018net €497,387 ▲725%
Net result €497,387, the highest in the series.
16-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 138 days late
2023
31-12
Financial
Equity above €1mEq €1.4m ▲180%
3 profitable years in a row build equity to €1.4m.
02-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 2 days late
2022
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 73 days late
2021
31-12
Financial
Back to profitnet €32,661
Net result €32,661 after 2 loss-making years.
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 86 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 122 days late
2019
31-12
Financial
Weakest financial yearnet -€234,997
Net result drops to -€234,997, the lowest in the series; recovery starts the following year.
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 8 days late
2018
03-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 34 days late
2017
19-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
13-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 74 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Brugge · 1 establishment unit since 2013
Ground area
303 m²
Building footprint
132 m²
Volume, LiDAR
1,238 m³
Parcel 31808M0510/00A004, Flanders · tallest building 14.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Appletree
since 20132.248.786.434
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31808M0510/00A004indicative | Flanders | 303 m² | 1 · 132 m² | 14.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2023 list no shareholders, and no other source names one.
Holdings 1
-
50%
According to the 2023 annual accounts of APPLETREE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 49,577 EUR awarded · 42,382 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 42,382 EUR |
| 2022 | 1 | 49,577 EUR | 0 EUR |
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,907. 3,672 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
Founded20-02-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0509994029
Also
9925:BE0509994029
Registered
22-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.