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APSD

Active Private limited companyfounded 2019active for 7 yearsMarcel Fonteynegaarde 6, 1200 Woluwe-Saint-LambertKBO/BCE: BE 0717.831.375
APSD
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Overview

Lifetime

7 annual accounts with figures on one time axis
peak €58,931 (2025)
€58,931▲ 4.9%
peak €40,786 (2023)
€36,781▼ 6.4%
peak €145,321 (2025)
€145,321▲ 0.1%
€101,768▲ 174%
Board2 names since 2019
1 directorAndrea Emilio Giovanni RUFFINO
Documentsfilings and deeds
22-06-202639 days before the deadline
2025micro format
Dividend €36,612Debts from €37,169 to €101,768

Key points

from the 2025 annual accounts

Equity

€145,321 ▲ 0.1%
145,1522024+36,781Profit-36,612Dividend145,3212025

APSD paid out €36,612 in dividends. That is 100% of the 2025 profit.

Investments

€73,495 28.1 × depreciation

Green is investment, beige is depreciation.

Filings

7 annual accounts since 2019
AprilJune31 JulyOctober202020222024

The last five annual accounts were filed 31 to 76 days before the end of the period.

Checked score

94
Excellent
Financially stronger than 56% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026highest value 10-2026: < 0.1%● unchanged vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026

Financial strength
Strong

84-16equity 58.8% of total assets
91-3short-term debt 24.5% · cash 63.4%
87-4return on assets 14.9%

Score breakdown

lowers risk
Liquidity: current ratio 2.91, cash €156,611
Sector: Computer programming, consultancy and related activities (NACE 62)
Size: total assets €247,089
Equity €145,321 (58.8% of total assets)
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 51% of them on solvency, 78% on liquidity, 50% on profitability and 43% on growth.

The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 26,972 companies had the same profile as APSD has now. Each dot stands for 68 companies, two years later.

94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of APSD itself is lower: < 0.1% within 12 months. It rests on far more data about APSD than the profile alone.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 26,972 companies, not a prediction for APSD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €13,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 2.91 (4.91 in 2024), above the usual 1.5. Short-term debt is 24.5% and cash 63.4% of total assets. 41.2% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

5 signals, none raises the risk
Five signals.
lowers riskneutral
lowers risk · Liquidity: current ratio 2.91, cash €156,611
NBB · annual accounts
lowers risk · Sector: Computer programming, consultancy and related activities (NACE 62)
KBO
lowers risk · Size: total assets €247,089
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Equity €145,321 (58.8% of total assets)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-06-2026, 39 days ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2025
39 days early
2024
56 days early
2023
43 days early
2022
31 days early
2021
76 days early
2020
44 days early
2019
37 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 47 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

AE
Andrea Emilio Giovanni RUFFINO
Director, since 23-11-2021
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0717831375
Capital decrease of €6,199 to €1 Capital from €6,200 to €1 · Appointment: Andrea Emilio Giovanni RUFFINO (director) · Resignation: l’administrateur actuel (director) · General meeting of 23-11-2021 · Gazette deed
First establishment Marcel Fonteynegaarde 6, Woluwe-Saint-Lambert
Incorporation published on 11-01-2019 · Gazette deed
All 13 events

Comparable companies

same main activity, similar in size and age
Company
APSD Woluwe-Saint-Lambert €247,089 €58,931 58.8% -
NEDORIA Jette €221,660 €48,992 33.1% -
PLURIELL Nivelles €258,998 €63,153 -237.8% -
LAMBRETTE SOLUTIONS INFORMATIQUES Berloz €243,011 €56,471 78.5% -
RDL CONSULTING Ghent €250,166 €66,385 74.3% -
MaxITGreen3000 Consulting Namur €227,962 €68,035 9.4% -
Colid Lummen €256,206 €70,348 41.8% -

These companies have the same main activity as APSD: computer programming (NACE 62100). They are comparable in size and age: total assets between €222,000 and €259,000, founded between 2018 and 2019.

Official details

Source: KBO
Status
Active since 09-01-2019Normal situation
Activity
Computer programmingNACE 62100and 4 others
Establishment unit
2.285.014.2511200 Woluwe-Saint-Lambert, since 12-02-2019
Financial year end
31 December
Peppol
Reachable since 09-12-2025
Company details

Annual accounts 2025

€58,931▲ 4.9%
≈ €140,000estimated
€36,781▼ 6.4%
€145,321▲ 0.1%
€247,089▲ 35.5%
Filing
Filed on 22-06-2026, 39 days before the end of the filing period
Financials

Insights on APSD

APSD files the micro format. That format states no turnover. The gross margin rose from €49,364 in 2019 to €58,931 in 2025.

The balance sheet grew most from 2023 to 2025 through fixed assets.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 22-06-2026, 39 days before the deadline
€58,931
▲ 4.9%
€52,182
▼ 6.0%
€36,781
▼ 6.4%
€115,579
▼ 20.4%
58.8%
▼ 20.8 percentage points
2.91
▼ 2.00

The turnover shown is an estimate from the gross margin.

Turnover ≈ €140,000. Estimated: probably between €110,000 and €180,000.

Balance sheet

balance sheet total €247,089 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

58.8%

Higher than 49% of 21,205 companies in 2025.

2.91

Higher than 57% of 20,568 companies in 2025.

14.9%

Higher than 44% of 20,743 companies in 2025.

APSD Middle half of the sector 80% of the sector Micro accounts in computer programming and consultancy (NACE 62)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019
Balance sheet: assets
20/58 247,089182,321165,500149,658126,380104,55055,982
21/28 70,877--5501,3646,3468,334
22/27 70,877--5501,3646,3468,334
24 70,877--5501,3646,3468,334
29/58 176,212182,321165,500149,109125,01698,20447,648
40/41 18,21413,85622,5397,2908,33418,18823,023
40 10,1609,59918,7576,6607,60411,13216,250
41 8,0544,2573,7836307307,0566,773
54/58 156,611167,630141,503140,214115,93879,25424,150
490/1 1,3868351,4571,604745762476
Balance sheet: equity and liabilities
10/49 247,089182,321165,500149,658126,380104,55055,982
10/15 145,321145,152137,237118,45198,39274,19537,584
10/11 111116,2006,200
100 ------18,600
101 ------12,400
13 145,320145,151137,236118,45098,39167,99531,384
133 145,320145,151137,236118,45098,39167,99531,384
14 0------
17/49 101,76837,16928,26331,20827,98930,35518,398
17 41,135----8532,888
170/4 41,135----8532,888
42/48 60,63337,16928,26331,20827,98929,50115,511
42 9,754---8532,0342,014
44 9,178-373271-12,756853
440/4 9,178-373271-12,756853
45 6,9207,3545,89014,77027,13514,71112,643
450/3 6,9207,3545,89014,77027,13514,71112,643
47/48 34,78129,81522,00016,166---
Income statement
9900 58,93156,19256,10650,45248,71855,95549,364
630 2,618-5508144,9824,4315,247
640/8 4,131679662608298440323
9901 52,18255,51354,89449,03043,43951,08443,795
75/76B 15811082-0626259
75 15811082-0626259
65/66B 47154064862561938927
65 47154064862561938927
9903 51,86855,08454,32948,40542,81951,32144,027
67/77 15,08815,78513,54312,34612,42414,70912,643
9904 36,78139,29940,78636,05930,39536,61231,384
9905 36,78139,29940,78636,05930,39536,61231,384
Appropriation of the result
9906 36,78139,29940,78636,05930,39536,61231,384
791/2 36,61231,384-----
691/2 36,78139,29918,78620,05930,39536,61231,384
6921 36,78139,29918,78620,05930,39536,61231,384
694/7 36,61231,38422,00016,000---
694 36,61231,38422,00016,000---
Document PDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 22-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 22-06-2026 2026-00204963 PDF
31-12-2024 micro format 05-06-2025 2025-00124230 PDF
31-12-2023 micro format 18-06-2024 2024-00142053 PDF
31-12-2022 micro format 30-06-2023 2023-00191235 PDF
31-12-2021 full format 16-05-2022 2022-20033265 PDF
31-12-2020 full format 17-06-2021 2021-21200187 PDF
31-12-2019 full format 24-06-2020 2020-20400140 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019
54,800-55,44449,84448,42055,51549,042
39,398-41,33636,87335,37741,04336,630
73,495-0002,44312,500
-11,01926,1271,28924,27736,68355,105-
115,579145,152137,237117,90197,02868,70332,138
58.8%79.6%82.9%79.1%77.9%71.0%67.1%
2.914.915.864.784.473.333.07
0.700.260.210.260.280.410.49
25.3%27.1%29.7%30.4%30.9%49.3%83.5%
14.9%21.6%24.6%24.1%24.1%35.0%56.1%
over 100-85.6379.7678.19--

EBIT margin: not included in this filing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€73,495----
€2,618-€550€814€4,982

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on APSD

The operating result for 2025 is 6% lower than in 2024 and the lowest since 2022.

Debt's share of the balance-sheet total rises from 20.4% to 41.2%. Equity and debt are higher.

Board & ownership

Board

1 director, last change in 2021
Andrea Emilio Giovanni RUFFINO
Director
since 23-11-2021 term without a fixed end
listed in the 2025 annual accounts, filed on 22-06-2026

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
Andrea Emilio Giovanni RUFFINO
Director
l’administrateur actuel
Director
BoardEarliermandate already running before its first mention
Mandates as a list
  • Andrea Emilio Giovanni RUFFINO
    • Director, from 09-01-2019 to date
  • l’administrateur actuel
    • Director, until 29-11-2021

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€1
Source
2025 annual accounts

Articles of association

deed of 29-11-2021 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
100 shares
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Moitié cédant moitié acquéreurs proportionnellement nombre actions si plusieurs, toutes cessions entre vifs à titre onéreux ou gratuit…”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Friday of May at 18:00

Capital transactions

Capital over time
  1. 29-11-2021 Converted to unavailable equity · €6,200
  2. 29-11-2021 Capital reduction of €6,199 · to €1 · repaid to the shareholders

Network & group

No group

APSD has no parent and no holdings in its annual accounts. Andrea Emilio Giovanni RUFFINO is the only director. APSD shares no director with another company.

At the same address

Marcel Fonteynegaarde 6, 1200 Woluwe-Saint-Lambert · 1 other company
Dr. Virginie Atquet
registered office since 14-10-2020 · founded in 2020
 total assets €249,615 (2025)
0756.592.080

Timeline

Timeline

13 events since 2019

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 39 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0717831375
Annual accounts 2024 filed PDFmicro format · 56 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 43 days before the deadline
2023
Highest result from 2019 to 2025 net €40,786 ▲13.1% The net result of €40,786 is the highest of those years.
Annual accounts 2022 filed PDFmicro format · 31 days before the deadline
2022
Equity above €100,000 equity €118,451 ▲20.4% With a profit in every financial year since 2019, equity grows to €118,451.
Annual accounts 2021 filed PDFfull format · 76 days before the deadline
2021
Capital decrease of €6,199 to €1Capital from €6,200 to €1 · Appointment: Andrea Emilio Giovanni RUFFINO (director) · Resignation: l’administrateur actuel (director) · General meeting of 23-11-20216 points ▸
  • General meeting, 23-11-2021
  • Capital decrease, €6,199
  • Board rule, 1
  • Director appointment, Andrea Emilio Giovanni RUFFINO
  • Registered office clause, Clos Marcel Fonteyne 6, boite 3, 1200 Woluwe-Saint-Lambert
  • Director resignation, l’administrateur actuel
  • The deed holds 6 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFfull format · 44 days before the deadline
2020
Annual accounts 2019 filed PDFfull format · 37 days before the deadline
2019
First establishment Marcel Fonteynegaarde 6, Woluwe-Saint-Lambert
Incorporation PDFpublished on 11-01-2019

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 9 January 2019, APSD was incorporated.1 Total assets went from €55,982 in 2019 to €247,089 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0717.831.375
VAT number
BE 0717.831.375
Peppol ID
0208:0717831375
Legal form
Private limited company
Status
Active, normal situation
Founded
09-01-2019
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Friday of May at 18:00
deed of 29-11-2021 (in French)
Peppol
Reachable since 09-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
APSD in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 29-11-2021 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale”
deed of 29-11-2021 (in French)

Activities

NACEBEL 2025
62100 Computer programming main activity
61200 Telecommunications resale and intermediation services
62200 Computer consultancy and computer facilities management
62900 Other information technology and computer services
63100 Computing infrastructure, data processing, hosting and related activities
Codes under NACEBEL 2008
62010 Computer programming, consultancy and related activities main activity
61900 Telecommunications
62020 IT consultancy
62030 Computer programming, consultancy and related activities
62090 Computer programming, consultancy and related activities
63110 Computing infrastructure, data processing, hosting and other information service activities
PurposeThe purpose describes the activities the company may carry out under its articles.
“La vente en gros et en détail d’ordinateur, de matériel informatique, de télécommunication, de périphériques et de logiciels; L’entretien et…”
14 activities
  1. La vente en gros et en détail d’ordinateur, de matériel informatique, de télécommunication, de périphériques et de logiciels
  2. L’entretien et la réparation de matériel électrique et électronique, en ce compris la réparation d’ordinateur, de matériel informatique, de télécommunication, de périphériques et de logiciels
  3. Consultance informatique
  4. Prestations de consultance, de management, détudes et d’expertise liés aux domaines de l’informatique et IT, de la finance, du commerce et du domaine social
  5. Conseil dans le domaine du marketing, de la gestion, de la finance et de l’industrie
  6. Toutes prestations de consultance au sens le plus large et destinés à tous
  7. Traitement de données, hébergément et activités connexe
  8. Prestations dans le monde de la télécommunication
  9. La conception de sites Web et de services en ligne
  10. Développement de software de tout genre et la vente de software
  11. La programmation informatique
  12. Toute formation, séminaires, événements, etc. dans les domaines informatiques et télécommunications
  13. La conception, le développement et la commercialisation de tous produits
  14. Import-export dans tous les domaines
deed of 29-11-2021 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Marcel Fonteynegaarde 6 registered office 1200 Woluwe-Saint-Lambert 12-02-2019 2.285.014.251

Buildings and parcels at the address

Ground area
3,110 m²
Buildings
413 m²
Volume, LiDAR
5,792 m³
Tallest building
19.2 m
Buildings to scale, each on its own parcel
412 m², 19.2 m 412 m², 19.2 m

Location

registered office establishment The establishment unit on the map
2 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
21018B0179/00F0003,110 m² 1 · 412 m² 19.2 m · 5

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