APSTRUCT

Active Private limited companyfounded 2015active for 11 yearsBerkensingel 24, 2490 BalenKBO/BCE: BE 0568.876.294

APSTRUCT

Financial year 2025

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Annual accounts 2025

micro format, filed on 28-09-2026, 59 days late

Gross margin

-€3,453

▼ €4,605

Operating result

-€4,038

▼ €4,622

Profit

€5,185

▼ 38.5%

Working capital

€60,868

▼ 3.7%

Solvency

39.9%

▲ 3.7 percentage points

Current ratio

1.67

▼ 0.03

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.

Balance sheet

balance sheet total €151,443 on 31-12-2025

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Balance sheet: assets
Total assets`20/58`	151,443	152,637	215,850	186,655	192,306	267,532	273,309	550,840	578,383	228,568	28,687
Formation expenses`20`	-	-	-	-	-	-	0	228	457	685	913
Fixed assets`21/28`	-	-	-	-	-	-	-	-	163	326	1,402
Tangible fixed assets`22/27`	-	-	-	-	-	-	-	-	163	326	489
Furniture and vehicles`24`	-	-	-	-	-	-	-	-	163	326	489
Current assets`29/58`	151,443	152,637	215,850	186,655	192,306	267,532	273,309	550,612	577,763	227,557	27,285
Stocks and contracts in progress`3`	-	-	0	178,588	178,588	238,117	238,117	232,753	547,298	200,229	21,000
Stocks`30/36`	-	-	0	178,588	178,588	238,117	238,117	232,753	547,298	200,229	21,000
Amounts receivable within one year`40/41`	0	150,000	150,000	1,416	-	0	13,867	162,610	-	1,436	662
Trade receivables`40`	-	-	-	-	-	-	0	147,610	-	-	-
Other amounts receivable`41`	0	150,000	150,000	1,416	-	0	13,867	15,000	-	1,436	662
Cash at bank and in hand`54/58`	151,443	2,637	65,850	6,650	13,718	29,415	21,325	155,248	30,465	25,892	5,622
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	151,443	152,637	215,850	186,655	192,306	267,532	273,309	550,840	578,383	228,568	28,687
Equity`10/15`	60,480	55,295	46,868	26,502	35,769	19,751	25,341	-22,247	-13,048	-9,750	11,276
Contributions`10/11`	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550
Issued capital`100`	-	-	-	-	-	-	18,550	18,550	18,550	18,550	18,550
Reserves`13`	41,930	36,745	28,318	17,219	17,219	1,201	6,791	-	-	-	-
Non-distributable reserves`130/1`	-	-	-	340	340	340	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	340	-	-	-	-
Reserves not available under the articles`1311`	-	-	-	340	340	340	-	-	-	-	-
Distributable reserves`133`	41,930	36,745	28,318	16,879	16,879	862	6,452	-	-	-	-
Profit (loss) carried forward`14`	-	-	0	-9,267	-	-	0	-40,797	-31,598	-28,300	-7,274
Amounts payable`17/49`	90,962	97,342	168,982	160,153	156,537	247,781	247,968	573,087	591,431	238,318	17,411
Amounts payable within one year`42/48`	90,575	89,455	160,115	160,153	156,537	247,781	247,968	573,087	588,905	238,318	17,411
Financial debts`43`	-	0	75,000	75,000	75,000	150,000	150,000	225,000	467,674	86,760	-
Credit institutions`430/8`	-	0	75,000	75,000	75,000	150,000	150,000	225,000	467,674	86,760	-
Trade debts`44`	2,858	311	3,240	1,773	5,429	14,477	12,813	53,687	1,989	34,558	411
Suppliers`440/4`	2,858	311	3,240	1,773	5,429	14,477	12,813	53,687	1,989	34,558	411
Taxes, remuneration and social security`45`	6,935	8,362	4,043	5,999	4,311	1,508	3,358	153,826	1,988	-	-
Taxes`450/3`	6,935	8,362	4,043	5,999	4,311	1,508	3,358	153,826	1,988	-	-
Other amounts payable`47/48`	80,782	80,782	77,832	77,381	71,796	81,796	81,796	140,575	117,253	117,000	17,000
Accrued charges and deferred income`492/3`	387	7,887	8,867	-	-	-	-	-	2,527	-	-
Income statement
Non-recurring operating income`76A`	-	-	0	2,694	-	-	-	-	-	-	-
Gross operating margin`9900`	-3,453	1,153	24,622	-5,641	24,280	-2,326	52,446	-2,614	-2,729	-22,213	-6,848
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	-	-	-	-	-	0	228	391	391	391	391
Other operating charges`640/8`	585	569	4,178	833	479	799	626	96	94	92	30
Operating profit (loss)`9901`	-4,038	583	20,445	-6,473	23,801	-3,125	51,592	-3,101	-3,215	-22,697	-7,269
Financial income`75/76B`	13,031	15,000	7,566	0	0	27	2,751	2,602	6,719	2,798	-
Recurring financial income`75`	13,031	15,000	7,566	0	0	27	2,751	2,602	6,719	2,798	-
Financial charges`65/66B`	1,191	2,838	3,602	7,046	1,773	2,492	3,396	8,700	6,803	1,128	5
Recurring financial charges`65`	1,191	2,838	3,602	7,046	1,773	2,492	3,396	8,700	6,803	1,128	5
Profit (loss) for the period before taxes`9903`	7,802	12,746	24,409	-13,519	22,028	-5,590	50,947	-9,199	-3,299	-21,026	-7,274
Income taxes`67/77`	2,616	4,319	4,043	-4,252	6,010	0	3,358	-	-	-	-
Profit (loss) for the period`9904`	5,185	8,427	20,366	-9,267	16,018	-5,590	47,589	-9,199	-3,299	-21,026	-7,274
Profit (loss) for the period to be appropriated`9905`	5,185	8,427	20,366	-9,267	16,018	-5,590	47,589	-9,199	-3,299	-21,026	-7,274
Appropriation of the result
Profit (loss) to be appropriated`9906`	5,185	8,427	11,098	-9,267	16,018	-5,590	6,791	-40,797	-31,598	-28,300	-7,274
Profit (loss) brought forward from the previous period`14P`	-	0	-9,267	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	-	-	-	-	0	5,590	-	-	-	-	-
Transfer to equity`691/2`	5,185	8,427	11,098	0	16,018	0	6,791	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	0	340	-	-	-	-
To other reserves`6921`	5,185	8,427	11,098	0	16,018	0	6,452	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 3 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 28-09-2026.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 59 days after the deadline. Filed on 28 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00527985.

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	28-09-2026	2026-00527985	PDF
31-12-2024	micro format	31-08-2025	2025-00471354	PDF
31-12-2023	micro format	29-08-2024	2024-00443253	PDF
31-12-2022	micro format	25-08-2023	2023-00364827	PDF
31-12-2021	micro format	27-01-2023	2023-00016997	PDF
31-12-2020	abbreviated format	05-11-2021	2021-77200139	PDF
31-12-2019	micro format	12-08-2020	2020-40800295	PDF
31-12-2018	micro format	04-02-2020	2020-04400469	PDF
31-12-2017	micro format	27-08-2018	2018-51200583	PDF
31-12-2016	micro format	13-07-2017	2017-31200197	PDF
31-12-2015	abbreviated format	31-08-2016	2016-56400299	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBITDA	-	-	-	-	-	-3,125	51,820	-2,710	-2,823	-22,305	-6,878
Cash flow	-	-	-	-	-	-5,590	47,817	-8,808	-2,907	-20,635	-6,883
Investment in fixed assets (approximation)	-	-	-	-	-	0	0	457	228	-685	652
Change in cash	148,806	-63,213	59,200	-7,068	-15,697	8,090	-133,924	124,783	4,572	20,270	-
Working capital	60,868	63,182	55,735	26,502	35,769	19,751	25,341	-22,476	-11,142	-10,761	9,874
Solvency	39.9%	36.2%	21.7%	14.2%	18.6%	7.4%	9.3%	-4.0%	-2.3%	-4.3%	39.3%
Current ratio	1.67	1.71	1.35	1.17	1.23	1.08	1.10	0.96	0.98	0.95	1.57
Quick ratio	1.67	1.71	1.35	0.05	0.09	0.12	0.14	0.55	0.05	0.11	0.36
Debt to equity	1.50	1.76	3.61	6.04	4.38	12.55	9.79	-	-	-	1.54
ROE	8.6%	15.2%	43.5%	-35.0%	44.8%	-28.3%	187.8%	-	-	-	-64.5%
ROA	3.4%	5.5%	9.4%	-5.0%	8.3%	-2.1%	17.4%	-1.7%	-0.6%	-9.2%	-25.4%

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.

Insights on APSTRUCT

The operating result for 2025 is a loss of €4,038, after a profit of €583 in 2024. It is the lowest result since 2022.

Debt's share of the balance-sheet total falls from 63.8% to 60.1%. Equity is higher and debt is lower.

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