APPO
ActiveSummary
The computed 12-month bankruptcy probability of APPO is 2.8% (moderate). The 2025 annual accounts show equity of €18,079 and a net result of €10,876. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 32% of 18606 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▼-15
Solvency38=
Growth55▼-7
Track record92
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.15 against 1.14 in 2024; short-term debt: 86.9% of total assets), and 86.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.1%
Return on assets
7.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
5 d late
2024
145 d late
2023
509 d late
2022
234 d late
2021
129 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 204 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
UBO non-compliance
Checked, nothing found (1)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 23 December (4 of the last 5 filed years within 140 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 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 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 What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€192,005▼ 24.7%
2024 · €255,130
EBIT margin
5.7%▲ 2.5pp
2024 · 3.1%
Net result
€10,876▲ 36.3%
2024 · €7,978
Working capital
€18,079▲ 151%
2024 · €7,203
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Turnover€259,008-€284,866▲ 10.0%€131,632▼ 53.8%€255,130▲ 93.8%€192,005▼ 24.7%
Operating result-€2,713-€12,392-€5,324€7,978€10,876▲ 36.3%
Net result-€2,895below the sector's middle half-€12,179within the sector's middle half-€5,324below the sector's middle half€7,978within the sector's middle half€10,876within the sector's middle half▲ 36.3%
EBIT margin-1.0%-4.4%▲ 5.4pp-4.0%▼ 8.4pp3.1%▲ 7.2pp5.7%▲ 2.5pp
Equity-€7,630below the sector's middle half-€4,549within the sector's middle half-€775below the sector's middle half€7,203within the sector's middle half€18,079within the sector's middle half▲ 151%
Total assets€56,922below the sector's middle half-€20,443below the sector's middle half▼ 64.1%€82,347within the sector's middle half▲ 303%€57,054below the sector's middle half▼ 30.7%€138,160within the sector's middle half▲ 142%
Debt€64,552-€15,894▼ 75.4%€83,122▲ 423%€49,851▼ 40.0%€120,080▲ 141%
Working capital-€7,630within the sector's middle half-€4,549within the sector's middle half-€775within the sector's middle half€7,203within the sector's middle half€18,079within the sector's middle half▲ 151%
Solvency-13.4%below the sector's middle half-22.3%within the sector's middle half▲ 35.7pp-0.9%below the sector's middle half▼ 23.2pp12.6%within the sector's middle half▲ 13.6pp13.1%within the sector's middle half▲ 0.5pp
Current ratio0.88below the sector's middle half-1.29within the sector's middle half▲ 0.400.99within the sector's middle half▼ 0.301.14within the sector's middle half▲ 0.151.15within the sector's middle half▲ 0.01
Return on assets (ROA)-5.1%below the sector's middle half-59.6%above the sector's middle half▲ 64.7pp-6.5%below the sector's middle half▼ 66.0pp14.0%above the sector's middle half▲ 20.4pp7.9%within the sector's middle half▼ 6.1pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 36% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €138,160
Equity
€18,079 ▲ 151%
Debt
€120,080 ▲ 141%
Debt's share of the balance-sheet total falls from 87.4% to 86.9%. Equity and debt are higher.
Key figures and ratios
Quick ratio
0.00▲
2024 · 0.00
Debt to equity
6.64▼
2024 · 6.92
ROE
60.2%▼
2024 · 110.8%
Debt ≤ 1 year
€120,080▲
2024 · €49,851
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.8% 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 497,662 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% | 1.7% |
| 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 75% 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 6,706 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €259,008 | €284,866 | €131,632 | €255,130 | €192,005 | ▼ 24.7% |
| Goods, raw materials, services and sundry goods60/61 | €258,767 | €270,437 | €136,956 | €239,859 | €181,003 | ▼ 24.5% |
| Remuneration, social security and pensions62 | €2,953 | €2,016 | - | €8,737 | - | - |
| Other operating charges640/8 | - | €21 | - | - | €126 | - |
| Gross operating margin9900 | €240 | €14,429 | -€5,324 | €16,714 | €11,003 | ▼ 34.2% |
| Operating profit (loss)9901 | -€2,713 | €12,392 | -€5,324 | €7,978 | €10,876 | ▲ 36.3% |
| Financial charges65/66B | €182 | €214 | - | - | - | - |
| Recurring financial charges65 | €182 | €214 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€2,895 | €12,179 | -€5,324 | €7,978 | €10,876 | ▲ 36.3% |
| Profit (loss) for the period9904 | -€2,895 | €12,179 | -€5,324 | €7,978 | €10,876 | ▲ 36.3% |
| Profit (loss) for the period to be appropriated9905 | -€2,895 | €12,179 | -€5,324 | €7,978 | €10,876 | ▲ 36.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €56,922 | €20,443 | €82,347 | €57,054 | €138,160 | ▲ 142% |
| Current assets29/58 | €56,922 | €20,443 | €82,347 | €57,054 | €138,160 | ▲ 142% |
| Stocks and contracts in progress3 | €56,914 | €18,692 | €82,347 | €57,054 | €137,652 | ▲ 141% |
| Stocks30/36 | €56,914 | €18,692 | €82,347 | €57,054 | €137,652 | ▲ 141% |
| Amounts receivable within one year40/41 | - | - | - | - | €507 | - |
| Other amounts receivable41 | - | - | - | - | €507 | - |
| Cash at bank and in hand54/58 | €8 | €1,751 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €56,922 | €20,443 | €82,347 | €57,054 | €138,160 | ▲ 142% |
| Equity10/15 | -€7,630 | €4,549 | -€775 | €7,203 | €18,079 | ▲ 151% |
| Contributions10/11 | €1 | €1 | €1 | €1 | €1 | = |
| Profit (loss) carried forward14 | -€7,631 | €4,548 | -€776 | €7,202 | €18,078 | ▲ 151% |
| Amounts payable17/49 | €64,552 | €15,894 | €83,122 | €49,851 | €120,080 | ▲ 141% |
| Amounts payable within one year42/48 | €64,552 | €15,894 | €83,122 | €49,851 | €120,080 | ▲ 141% |
| Financial debts43 | €144 | €5 | €5 | €5 | €5 | = |
| Credit institutions430/8 | €144 | €5 | €5 | €5 | €5 | = |
| Trade debts44 | €47,425 | €7,307 | €76,305 | €43,771 | €120,075 | ▲ 174% |
| Suppliers440/4 | €47,425 | €7,307 | €76,305 | €43,771 | €120,075 | ▲ 174% |
| Taxes, remuneration and social security45 | €16,982 | €8,581 | €6,811 | €6,075 | - | - |
| Taxes450/3 | €5,634 | €8,581 | €6,811 | €4,875 | - | - |
| Remuneration and social security454/9 | €11,348 | - | - | €1,200 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,895 | €12,179 | -€5,324 | €7,978 | €10,876 | ▲ 36.3% |
| Operating cash flow (approximation) | -€2,895 | €12,179 | -€5,324 | €7,978 | €10,876 | ▲ 36.3% |
| Change in cash | - | €1,743 | - | - | - | - |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 145 days late
22-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 509 days late
2024
31-12
Financial
Back to profitnet €7,978
Net result €7,978 after one loss-making year.
08-04
KBO administration
UBO non-compliance
event 25-03-2024
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 234 days late
2023
31-12
Financial
Weakest financial yearnet -€5,324
Net result drops to -€5,324, the lowest in the series; recovery starts the following year.
2022
31-12
Financial
Back to profitnet €12,179
Net result €12,179 after one loss-making year.
07-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 129 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Charleroi · 2 establishment units since 2019
Ground area
550 m²
Building footprint
175 m²
Volume, LiDAR
707 m³
2 parcels, Wallonia · tallest building 14.0 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
Chaussée de Fleurus 80, 6060 Charleroi
since 20192.287.821.907
Chaussée de Fleurus 108, 6060 Charleroi
since 20262.393.458.271
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52026C0356/00H000 | Wallonia | 337 m² | 1 · 67 m² | 14.0 m · 4 fl. |
| 52026C0377/00E000 | Wallonia | 212 m² | 1 · 108 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteCharleroi2.287.821.907
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,853. 4,061 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 (pre-2019)
Founded28-03-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0723745407
Also
9925:BE0723745407
Registered
17-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.