APSB
ActiveSummary
The computed 12-month bankruptcy probability of APSB is 2.8% (moderate). The 2024 annual accounts show equity of €307,092 and a net result of €95,883. Equity is growing by ~63.3% per year across the filed fiscal years. Its solvency ranks better than 58% of 9975 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2024
Axes · tick = 2023
Profitability88▲+36
Solvency75▲+10
Growth78=
Track record92
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 2.76 against 2.69 in 2023; short-term debt: 25.5% and cash: 0% of total assets), but 50.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
on the day
2022
3 d early
2021
11 d early
2020
25 d early
2019
103 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 21 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
Address struck
History
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Financials · fiscal year 2024, micro schema
Equity
€307,092▲ 45.4%
2023 · €211,209
Total assets
€618,204▲ 18.3%
2023 · €522,450
Net result
€95,883▲ 1,501%
2023 · €5,988
Working capital
€277,175▲ 34.7%
2023 · €205,804
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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€46,406▲ 340%€130,809▲ 182%€88,438▼ 32.4%€18,697▼ 78.9%€156,934▲ 739%
Net result€32,204above the sector's middle half▲ 352%€87,827above the sector's middle half▲ 173%€59,867above the sector's middle half▼ 31.8%€5,988within the sector's middle half▼ 90.0%€95,883above the sector's middle half▲ 1,501%
Equity€57,526within the sector's middle half▲ 127%€145,354above the sector's middle half▲ 153%€205,221above the sector's middle half▲ 41.2%€211,209above the sector's middle half▲ 2.9%€307,092above the sector's middle half▲ 45.4%
Total assets€82,218within the sector's middle half▲ 120%€374,921above the sector's middle half▲ 356%€379,908above the sector's middle half▲ 1.3%€522,450above the sector's middle half▲ 37.5%€618,204above the sector's middle half▲ 18.3%
Debt€24,691▲ 103%€229,567▲ 830%€174,687▼ 23.9%€311,241▲ 78.2%€311,112=
Working capital€38,217within the sector's middle half▲ 49.2%€132,428above the sector's middle half▲ 247%€130,504above the sector's middle half▼ 1.5%€205,804above the sector's middle half▲ 57.7%€277,175above the sector's middle half▲ 34.7%
Solvency70.0%above the sector's middle half▲ 2.4pp38.8%within the sector's middle half▼ 31.2pp54.0%within the sector's middle half▲ 15.2pp40.4%within the sector's middle half▼ 13.6pp49.7%within the sector's middle half▲ 9.2pp
Current ratio2.56within the sector's middle half▼ 0.622.76within the sector's middle half▲ 0.192.96above the sector's middle half▲ 0.212.69within the sector's middle half▼ 0.272.76within the sector's middle half▲ 0.07
Return on assets (ROA)39.2%above the sector's middle half▲ 20.1pp23.4%above the sector's middle half▼ 15.7pp15.8%within the sector's middle half▼ 7.7pp1.1%within the sector's middle half▼ 14.6pp15.5%within the sector's middle half▲ 14.4pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
The operating result recovers in 2024; 2024 is 739% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €618,204
Fixed assets
€183,543 ▼ 5.9%
Current assets
€434,661 ▲ 32.8%
Equity and liabilities €618,204
Equity
€307,092 ▲ 45.4%
Debt
€311,112 =
Debt's share of the balance-sheet total falls from 59.6% to 50.3%. Equity is higher.
Key figures and ratios
EBITDA
€168,527▲
2023 · €30,184
Cash flow
€107,476▲
2023 · €17,475
Debt to equity
1.01▼
2023 · 1.47
ROE
31.2%▲
2023 · 2.8%
Interest coverage
10.84▲
2023 · 3.76
Debt ≤ 1 year
€157,486▲
2023 · €121,510
Debt > 1 year
€138,324▼
2023 · €139,327
Income taxes
€46,479▲
2023 · €5,575
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.1%
stopped otherwise
97%
still going
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 17,810 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 | €1,247 | €5,437 | €9,946 | €11,488 | €11,593 | ▲ 0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €28,677 | - |
| Other operating charges640/8 | - | €0 | €1,289 | €1,445 | €2,713 | ▲ 87.8% |
| Gross operating margin9900 | €50,981 | €136,246 | €99,673 | €31,629 | €199,917 | ▲ 532% |
| Operating profit (loss)9901 | €46,406 | €130,809 | €88,438 | €18,697 | €156,934 | ▲ 739% |
| Financial income75/76B | - | €890 | €1,460 | €890 | €976 | ▲ 9.7% |
| Recurring financial income75 | €890 | €890 | €1,460 | €890 | €976 | ▲ 9.7% |
| Financial charges65/66B | - | €3,521 | €3,658 | €8,024 | €15,548 | ▲ 93.8% |
| Recurring financial charges65 | €1,854 | €3,521 | €3,658 | €8,024 | €15,548 | ▲ 93.8% |
| Profit (loss) for the period before taxes9903 | €45,442 | €128,178 | €86,240 | €11,562 | €142,362 | ▲ 1,131% |
| Income taxes67/77 | €13,238 | €40,350 | €26,373 | €5,575 | €46,479 | ▲ 734% |
| Profit (loss) for the period9904 | €32,204 | €87,827 | €59,867 | €5,988 | €95,883 | ▲ 1,501% |
| Profit (loss) for the period to be appropriated9905 | €32,204 | €87,827 | €59,867 | €5,988 | €95,883 | ▲ 1,501% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €82,218 | €374,921 | €379,908 | €522,450 | €618,204 | ▲ 18.3% |
| Fixed assets21/28 | €19,556 | €167,119 | €182,972 | €195,136 | €183,543 | ▼ 5.9% |
| Tangible fixed assets22/27 | €19,556 | €167,119 | €182,972 | €195,136 | €183,543 | ▼ 5.9% |
| Land and buildings22 | - | €151,990 | €170,626 | €184,548 | €177,624 | ▼ 3.8% |
| Plant, machinery and equipment23 | - | €950 | €357 | €604 | €310 | ▼ 48.7% |
| Furniture and vehicles24 | - | €14,178 | €11,989 | €9,984 | €5,609 | ▼ 43.8% |
| Current assets29/58 | €62,662 | €207,802 | €196,936 | €327,314 | €434,661 | ▲ 32.8% |
| Amounts receivable after more than one year29 | - | €84,500 | €73,000 | €44,500 | €44,500 | = |
| Other amounts receivable291 | - | €84,500 | €73,000 | €44,500 | €44,500 | = |
| Amounts receivable within one year40/41 | €11,365 | €84,282 | €36,701 | €269,289 | €168,733 | ▼ 37.3% |
| Trade receivables40 | - | €82,971 | €28,677 | €240,832 | €168,325 | ▼ 30.1% |
| Other amounts receivable41 | - | €1,310 | €8,024 | €28,457 | €408 | ▼ 98.6% |
| Cash at bank and in hand54/58 | €6,215 | €26,020 | €87,235 | €12,195 | €138 | ▼ 98.9% |
| Deferred charges and accrued income490/1 | - | €13,000 | €0 | €1,330 | €221,290 | ▲ 16,538% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €82,218 | €374,921 | €379,908 | €522,450 | €618,204 | ▲ 18.3% |
| Equity10/15 | €57,526 | €145,354 | €205,221 | €211,209 | €307,092 | ▲ 45.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €32,000 | €119,820 | €178,820 | €184,800 | €234,800 | ▲ 27.1% |
| Distributable reserves133 | - | €119,820 | €178,820 | €184,800 | €234,800 | ▲ 27.1% |
| Profit (loss) carried forward14 | €6,926 | €6,934 | €7,801 | €7,809 | €53,692 | ▲ 588% |
| Amounts payable17/49 | €24,691 | €229,567 | €174,687 | €311,241 | €311,112 | = |
| Amounts payable after more than one year17 | - | €107,134 | €100,258 | €139,327 | €138,324 | ▼ 0.7% |
| Financial debts170/4 | - | €107,134 | €100,258 | €139,327 | €138,324 | ▼ 0.7% |
| Amounts payable within one year42/48 | €24,444 | €75,374 | €66,431 | €121,510 | €157,486 | ▲ 29.6% |
| Current portion of amounts payable after more than one year42 | - | €6,752 | €16,781 | €29,814 | €21,004 | ▼ 29.6% |
| Financial debts43 | - | - | €687 | €47,543 | €45,000 | ▼ 5.3% |
| Credit institutions430/8 | - | - | €687 | €47,543 | €45,000 | ▼ 5.3% |
| Trade debts44 | €4,839 | €6,185 | €11,357 | €16,039 | €17,380 | ▲ 8.4% |
| Suppliers440/4 | - | €6,185 | €11,357 | €16,039 | €17,380 | ▲ 8.4% |
| Taxes, remuneration and social security45 | - | €54,013 | €37,148 | €3,868 | €51,686 | ▲ 1,236% |
| Taxes450/3 | - | €54,013 | €37,148 | €3,868 | €51,686 | ▲ 1,236% |
| Other amounts payable47/48 | - | €8,424 | €459 | €24,246 | €22,417 | ▼ 7.5% |
| Accrued charges and deferred income492/3 | - | €47,059 | €7,997 | €50,404 | €15,302 | ▼ 69.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,204 | €87,827 | €59,867 | €5,988 | €95,883 | ▲ 1,501% |
| + Depreciation and write-downs630 | €1,247 | €5,437 | €9,946 | €11,488 | €11,593 | ▲ 0.9% |
| Operating cash flow (approximation) | €33,451 | €93,264 | €69,813 | €17,475 | €107,476 | ▲ 515% |
| Investment in fixed assets (approximation) | - | -€153,000 | -€25,799 | -€23,651 | €0 | ▲ 100% |
| Change in cash | - | €19,805 | €61,215 | -€75,040 | -€12,057 | ▲ 83.9% |
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
2026
29-06
KBO administration
Address struck
event 13-06-2026
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Highest result since 2018net €95,883 ▲1,501%
Operating result €156,934, net result €95,883, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €205,221 ▲41.2%
5 profitable years in a row build equity to €205,221.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100,000Eq €145,354 ▲153%
4 profitable years in a row build equity to €145,354.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
11-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 103 days late
2019
18-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Wommelgem · 1 establishment unit since 2016
Ground area
2.0 ha
Building footprint
4,056 m²
Volume, LiDAR
125,440 m³
2 parcels, Flanders · tallest building 64.4 m, ±19 floors. Linked by address, not a title deed.
278
companies at this address
See who is registered here
1 establishment unit
APSB
since 20162.254.752.528
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G1698/02C000 | Flanders | 1.0 ha | 1 · 1,768 m² | 64.4 m · 19 fl. |
| 11052C0585/00T002 | Flanders | 1.0 ha | 1 · 2,288 m² | 14.7 m · 4 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 794 EUR awarded · 794 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 296 EUR | 296 EUR |
| 2022 | 1 | 498 EUR | 498 EUR |
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CRYSTAL PALACE
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ALVANBOUW
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 10,925 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
Founded13-05-2016
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0653985480
Also
9925:BE0653985480
Registered
13-02-2024
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.