APSARA
ActiveSummary
APSARA has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €67,521 and a net result of €45,686. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 38% of 8966 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency67▲+30
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.18 against 0.49 in 2023; short-term debt: 58.4% and cash: 43.9% of total assets), and 58.4% 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+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
41.6%
Return on assets
28.2%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-04-2025, 98 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
98 d early
2023
99 d early
2022
24 d early
2021
2 d late
2020
18 d late
2019
38 d early
← 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 40 days before the deadline; the sector median for financial year 2024 is 6 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
€67,521▲ 198%
2023 · €22,694
Total assets
€162,127▼ 13.6%
2023 · €187,551
Net result
€45,686▼ 23.2%
2023 · €59,451
Working capital
€16,610
2023 · -€83,860
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
Line20202021202220232024
Operating result-€6,445-€58,927▼ 814%-€57,769▲ 2.0%€60,597€49,688▼ 18.0%
Net result-€7,822-€64,195▼ 721%-€59,187▲ 7.8%€59,451€45,686▼ 23.2%
Equity€87,457▼ 8.2%€23,262▼ 73.4%-€35,925€22,694€67,521▲ 198%
Total assets€188,938▼ 10.3%€170,632▼ 9.7%€94,855▼ 44.4%€187,551▲ 97.7%€162,127▼ 13.6%
Debt€101,481▼ 12.0%€147,370▲ 45.2%€130,780▼ 11.3%€164,858▲ 26.1%€94,606▼ 42.6%
Working capital€28,200▲ 164%-€40,611-€107,496▼ 165%-€83,860▲ 22.0%€16,610
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 2024; 2024 is 18% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €162,127
Fixed assets
€50,911 ▼ 52.8%
Current assets
€111,216 ▲ 39.7%
Equity and liabilities €162,127
Equity
€67,521 ▲ 198%
Debt
€94,606 ▼ 42.6%
Debt's share of the balance-sheet total falls from 87.9% to 58.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60,541▼
2023 · €95,891
Cash flow
€56,539▼
2023 · €94,746
Current ratio
1.18▲
2023 · 0.49
Debt to equity
1.40▼
2023 · 7.26
ROE
67.7%▼
2023 · 262.0%
ROA
28.2%▼
2023 · 31.7%
Interest coverage
48.25▼
2023 · 100.24
Debt ≤ 1 year
€94,606▼
2023 · €163,458
Income taxes
€2,747▲
2023 · €189
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 31,324 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,687 | €57,278 | €27,308 | €35,294 | €10,853 | ▼ 69.3% |
| Other operating charges640/8 | - | €4,264 | €12,218 | €1,018 | €2,906 | ▲ 185% |
| Non-recurring operating charges66A | - | - | - | €1,315 | €79,839 | ▲ 5,972% |
| Gross operating margin9900 | €39,242 | €2,615 | -€18,243 | €98,224 | €143,286 | ▲ 45.9% |
| Operating profit (loss)9901 | -€6,445 | -€58,927 | -€57,769 | €60,597 | €49,688 | ▼ 18.0% |
| Financial income75/76B | - | €94 | - | - | - | - |
| Recurring financial income75 | €28 | €94 | - | - | - | - |
| Financial charges65/66B | - | €5,006 | €1,223 | €957 | €1,255 | ▲ 31.2% |
| Recurring financial charges65 | €1,180 | €5,006 | €1,223 | €957 | €1,255 | ▲ 31.2% |
| Profit (loss) for the period before taxes9903 | -€7,597 | -€63,840 | -€58,991 | €59,640 | €48,433 | ▼ 18.8% |
| Income taxes67/77 | €224 | €355 | €196 | €189 | €2,747 | ▲ 1,355% |
| Profit (loss) for the period9904 | -€7,822 | -€64,195 | -€59,187 | €59,451 | €45,686 | ▼ 23.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €10,387 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€12,860 | -€64,195 | -€59,187 | €69,838 | €45,686 | ▼ 34.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €188,938 | €170,632 | €94,855 | €187,551 | €162,127 | ▼ 13.6% |
| Fixed assets21/28 | €121,670 | €98,915 | €87,880 | €107,953 | €50,911 | ▼ 52.8% |
| Tangible fixed assets22/27 | €121,670 | €98,915 | €87,880 | €107,953 | €50,911 | ▼ 52.8% |
| Land and buildings22 | - | €64,324 | €43,712 | €23,100 | - | - |
| Plant, machinery and equipment23 | - | €566 | €442 | €318 | €194 | ▼ 39.0% |
| Furniture and vehicles24 | - | €3,646 | €4,557 | €44,648 | €50,717 | ▲ 13.6% |
| Other tangible fixed assets26 | - | €30,379 | €39,169 | €39,888 | - | - |
| Current assets29/58 | €67,269 | €71,717 | €6,975 | €79,598 | €111,216 | ▲ 39.7% |
| Amounts receivable within one year40/41 | €35,466 | €7,026 | €223 | €20,000 | €40,000 | ▲ 100% |
| Trade receivables40 | - | €7,026 | - | €20,000 | €40,000 | ▲ 100% |
| Other amounts receivable41 | - | - | €223 | - | - | - |
| Cash at bank and in hand54/58 | €28,867 | €62,295 | €0 | €59,569 | €71,187 | ▲ 19.5% |
| Deferred charges and accrued income490/1 | - | €2,395 | €6,751 | €29 | €29 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €188,938 | €170,632 | €94,855 | €187,551 | €162,127 | ▼ 13.6% |
| Equity10/15 | €87,457 | €23,262 | -€35,925 | €22,694 | €67,521 | ▲ 198% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €47,496 | €47,496 | €47,496 | €37,109 | €61,321 | ▲ 65.2% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | €29,137 | €29,137 | €18,750 | €18,750 | = |
| Distributable reserves133 | - | €16,500 | €16,500 | €16,500 | €40,712 | ▲ 147% |
| Profit (loss) carried forward14 | €33,761 | -€30,434 | -€89,621 | -€20,615 | - | - |
| Amounts payable17/49 | €101,481 | €147,370 | €130,780 | €164,858 | €94,606 | ▼ 42.6% |
| Amounts payable after more than one year17 | €61,755 | €33,992 | €16,309 | - | - | - |
| Financial debts170/4 | - | €33,992 | €16,309 | - | - | - |
| Amounts payable within one year42/48 | €39,068 | €112,328 | €114,470 | €163,458 | €94,606 | ▼ 42.1% |
| Current portion of amounts payable after more than one year42 | - | €17,569 | €17,683 | €16,309 | - | - |
| Financial debts43 | - | - | €441 | - | - | - |
| Credit institutions430/8 | - | - | €441 | - | - | - |
| Trade debts44 | €6,325 | €17,777 | €5,008 | €936 | - | - |
| Suppliers440/4 | - | €17,777 | €5,008 | €936 | - | - |
| Taxes, remuneration and social security45 | - | €3,825 | €1,199 | €14,327 | €9,331 | ▼ 34.9% |
| Taxes450/3 | - | €3,825 | €1,199 | €14,327 | €9,331 | ▼ 34.9% |
| Other amounts payable47/48 | - | €73,157 | €90,140 | €131,885 | €85,274 | ▼ 35.3% |
| Accrued charges and deferred income492/3 | - | €1,050 | - | €1,400 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,822 | -€64,195 | -€59,187 | €59,451 | €45,686 | ▼ 23.2% |
| + Depreciation and write-downs630 | €42,687 | €57,278 | €27,308 | €35,294 | €10,853 | ▼ 69.3% |
| Operating cash flow (approximation) | €34,865 | -€6,917 | -€31,879 | €94,746 | €56,539 | ▼ 40.3% |
| Investment in fixed assets (approximation) | - | -€34,524 | -€16,272 | -€55,368 | €46,190 | ▲ 183% |
| Change in cash | - | €33,428 | -€62,295 | €59,569 | €11,618 | ▼ 80.5% |
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
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity doublescurrent ratio 1.18
Current ratio from 0.49 to 1.18; short-term debt falls from €163,458 to €94,606.
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €59,451
Net result €59,451 after 3 loss-making years.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
31-12
Financial
Weakest financial yearnet -€64,195
Net result drops to -€64,195, the lowest in the series; recovery starts the following year.
2020
18-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2019
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
06-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2015
30-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2013
31-10
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Knokke-Heist · 1 establishment unit since 1999
Ground area
193 m²
Building footprint
193 m²
Volume, LiDAR
1,300 m³
Parcel 31332F0649/00E000, Flanders · tallest building 11.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Binnenhof 11, 8300 Knokke-Heist
since 19992.136.056.103
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332F0649/00E000 | Flanders | 193 m² | 1 · 193 m² | 11.8 m · 2 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Legal Entity Identifier
5493004USLXWISX4CU28
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,899. 5,583 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
Founded13-12-1999
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0468219493
Also
9925:BE0468219493
Registered
24-11-2023
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.