APUMAS
ActiveSummary
APUMAS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €755k and a net result of €113k. Equity is growing by ~17.4% per year across the filed fiscal years. Its solvency ranks better than 41% of 4886 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-9
Solvency63▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 1.56 against 1.39 in 2024; short-term debt: 48.5% and cash: 6.8% of total assets), but 62.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−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
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
37.7%
Return on assets
5.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 27-05-2026, 65 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
65 d early
2024
55 d early
2023
20 d early
2022
26 d early
2021
26 d late
2020
5 d late
2019
41 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€113k▼ 64.4%
2024 · €317k
Working capital
€541k▲ 3.7%
2024 · €522k
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
Line20212022202320242025
Operating result€142k▲ 81.3%€293k▲ 106%€280k▼ 4.4%€476k▲ 70.1%€192k▼ 59.8%
Net result€87k▲ 104%€187k▲ 115%€176k▼ 6.0%€317k▲ 80.4%€113k▼ 64.4%
Equity€428k▲ 25.5%€514k▲ 20.3%€610k▲ 18.6%€827k▲ 35.6%€755k▼ 8.7%
Total assets€1.90M▲ 18.1%€2.17M▲ 13.8%€2.00M▼ 7.9%€2.47M▲ 23.7%€2.00M▼ 18.9%
Debt€1.48M▲ 16.2%€1.65M▲ 12.0%€1.39M▼ 16.1%€1.64M▲ 18.5%€1.25M▼ 24.0%
Working capital€237k▼ 3.9%€261k▲ 10.3%€278k▲ 6.5%€522k▲ 87.7%€541k▲ 3.7%
Staff (FTE)11.6▲ 12.6%11.2▼ 3.4%13.9▲ 24.1%15.9▲ 14.4%14.7▼ 7.5%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 60% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.00M
Fixed assets
€491k ▼ 19.6%
Current assets
€1.51M ▼ 18.6%
Equity and liabilities €2.00M
Equity
€755k ▼ 8.7%
Debt
€1.25M ▼ 24.0%
Debt's share of the balance-sheet total falls from 66.5% to 62.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€254k▼
2024 · €553k
Cash flow
€175k▼
2024 · €394k
Current ratio
1.56▲
2024 · 1.39
Quick ratio
1.41▲
2024 · 1.24
Debt to equity
1.65▼
2024 · 1.99
ROE
14.9%▼
2024 · 38.3%
ROA
5.6%▼
2024 · 12.8%
Interest coverage
7.86▼
2024 · 14.86
Debt ≤ 1 year
€972k▼
2024 · €1.34M
Debt > 1 year
€230k▼
2024 · €258k
Income taxes
€54k▼
2024 · €123k
Staff costs
€892k▼
2024 · €948k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €8k | €7k | €11k | €500 | €2k | ▲ 207% |
| Remuneration, social security and pensions62 | €513k | €563k | €780k | €948k | €892k | ▼ 6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52k | €62k | €64k | €77k | €62k | ▼ 19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €21k | €-19k | €11k | €4k | €10k | ▲ 131% |
| Other operating charges640/8 | €16k | €28k | €19k | €7k | €35k | ▲ 420% |
| Non-recurring operating charges66A | - | - | €14k | €6k | €63k | ▲ 1,032% |
| Gross operating margin9900 | €744k | €926k | €1.17M | €1.52M | €1.25M | ▼ 17.5% |
| Operating profit (loss)9901 | €142k | €293k | €280k | €476k | €192k | ▼ 59.8% |
| Financial income75/76B | €3k | €2k | €50 | €710 | €7k | ▲ 920% |
| Recurring financial income75 | €3k | €2k | €50 | €710 | €7k | ▲ 920% |
| Financial charges65/66B | €30k | €45k | €38k | €37k | €32k | ▼ 13.2% |
| Recurring financial charges65 | €30k | €45k | €38k | €37k | €32k | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | €115k | €250k | €242k | €440k | €167k | ▼ 62.1% |
| Income taxes67/77 | €28k | €63k | €67k | €123k | €54k | ▼ 56.1% |
| Profit (loss) for the period9904 | €87k | €187k | €176k | €317k | €113k | ▼ 64.4% |
| Profit (loss) for the period to be appropriated9905 | €87k | €187k | €176k | €317k | €113k | ▼ 64.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.90M | €2.17M | €2.00M | €2.47M | €2.00M | ▼ 18.9% |
| Fixed assets21/28 | €584k | €605k | €636k | €611k | €491k | ▼ 19.6% |
| Intangible fixed assets21 | €530 | €92 | - | - | - | - |
| Tangible fixed assets22/27 | €582k | €604k | €635k | €609k | €490k | ▼ 19.5% |
| Land and buildings22 | €384k | €364k | €344k | €324k | €303k | ▼ 6.3% |
| Plant, machinery and equipment23 | €126k | €189k | €191k | €179k | €165k | ▼ 7.3% |
| Furniture and vehicles24 | €47k | €35k | €64k | €62k | €22k | ▼ 65.2% |
| Leasing and similar rights25 | €24k | €16k | €9k | €810 | - | - |
| Other tangible fixed assets26 | - | - | €27k | €44k | - | - |
| Financial fixed assets28 | €780 | €780 | €1k | €1k | €460 | ▼ 62.9% |
| Current assets29/58 | €1.32M | €1.56M | €1.36M | €1.86M | €1.51M | ▼ 18.6% |
| Stocks and contracts in progress3 | €182k | €153k | €137k | €197k | €141k | ▼ 28.6% |
| Stocks30/36 | €182k | €153k | €137k | €197k | €141k | ▼ 28.6% |
| Amounts receivable within one year40/41 | €853k | €896k | €981k | €1.19M | €808k | ▼ 32.3% |
| Trade receivables40 | €835k | €882k | €948k | €1.19M | €760k | ▼ 36.3% |
| Other amounts receivable41 | €18k | €14k | €33k | - | €48k | - |
| Current investments50/53 | €3k | €3k | €3k | - | - | - |
| Cash at bank and in hand54/58 | €38k | €106k | €29k | €92k | €135k | ▲ 46.4% |
| Deferred charges and accrued income490/1 | €243k | €403k | €210k | €377k | €429k | ▲ 13.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.90M | €2.17M | €2.00M | €2.47M | €2.00M | ▼ 18.9% |
| Equity10/15 | €428k | €514k | €610k | €827k | €755k | ▼ 8.7% |
| Contributions10/11 | €109k | €109k | €109k | €109k | €109k | = |
| Reserves13 | €22k | €22k | €22k | €22k | €22k | = |
| Non-distributable reserves130/1 | €11k | €11k | - | - | - | - |
| Reserves not available under the articles1311 | €11k | €11k | - | - | - | - |
| Distributable reserves133 | €11k | €11k | €22k | €22k | €22k | = |
| Profit (loss) carried forward14 | €279k | €366k | €461k | €678k | €606k | ▼ 10.7% |
| Investment grants15 | €18k | €18k | €18k | €18k | €18k | = |
| Amounts payable17/49 | €1.48M | €1.65M | €1.39M | €1.64M | €1.25M | ▼ 24.0% |
| Amounts payable after more than one year17 | €349k | €320k | €290k | €258k | €230k | ▼ 10.8% |
| Financial debts170/4 | €349k | €320k | €290k | €258k | €230k | ▼ 10.8% |
| Amounts payable within one year42/48 | €1.08M | €1.30M | €1.08M | €1.34M | €972k | ▼ 27.3% |
| Current portion of amounts payable after more than one year42 | €76k | €119k | €143k | €166k | €162k | ▼ 2.4% |
| Financial debts43 | €332k | €250k | €270k | €400k | - | - |
| Credit institutions430/8 | €332k | €250k | €270k | €400k | - | - |
| Trade debts44 | €510k | €653k | €408k | €443k | €316k | ▼ 28.8% |
| Suppliers440/4 | €510k | €653k | €408k | €443k | €316k | ▼ 28.8% |
| Taxes, remuneration and social security45 | €119k | €133k | €175k | €226k | €209k | ▼ 7.2% |
| Taxes450/3 | €61k | €76k | €65k | €118k | €106k | ▼ 10.0% |
| Remuneration and social security454/9 | €58k | €57k | €110k | €108k | €103k | ▼ 4.2% |
| Other amounts payable47/48 | €46k | €145k | €86k | €103k | €285k | ▲ 177% |
| Accrued charges and deferred income492/3 | €44k | €32k | €14k | €47k | €47k | ▼ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €87k | €187k | €176k | €317k | €113k | ▼ 64.4% |
| + Depreciation and write-downs630 | €52k | €62k | €64k | €77k | €62k | ▼ 19.1% |
| Operating cash flow (approximation) | €139k | €249k | €240k | €394k | €175k | ▼ 55.6% |
| Investment in fixed assets (approximation) | - | €-84k | €-96k | €-51k | €57k | ▲ 211% |
| Change in cash | - | €68k | €-77k | €64k | €43k | ▼ 32.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €317k ▲80.4%
Operating result €476k, net result €317k, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €500kEq €514k ▲20.3%
5 profitable years in a row build equity to €514k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
31-12
Financial
Weakest financial yearnet €4k ▼79%
Net result drops to €4k, the lowest in the series; recovery starts the following year.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
22-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 53 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Liège · 1 establishment unit since 2004
Ground area
980 m²
Building footprint
89 m²
Volume, LiDAR
595 m³
Parcel 62087B0088/00T002, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
APUMAS
since 20042.136.498.838
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62087B0088/00T002 | Wallonia | 980 m² | 1 · 89 m² | 7.0 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.
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Of 1,075 companies in sector 46140 we hold annual accounts for 645. 405 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
Founded08-04-2004
Fiscal year end31-12
Activities, NACEBEL 2025
46140Agents in the wholesale of industrial machinery, ships and aircraft
46645Wholesale trade
46190Agents in non-specialised wholesale trade
47521Retail sale of hardware, building materials, paint and glass (general range)
47784Retail sale of souvenirs and religious articles
Scores and ratios are computed by Checked and are not a credit decision.