GROUP AP PROJECT DEVELOPMENT
ActiveSummary
GROUP AP PROJECT DEVELOPMENT has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.78M and a net result of €-300k. Equity is growing by ~24.9% per year across the filed fiscal years. Its solvency ranks better than 60% of 2179 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability14▼-78
Solvency73▼-8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220k at 30 days acceptable
Liquidity ample (current ratio 15.14 against 15.42 in 2024; short-term debt: 6.6% and cash: 2.8% of total assets), but 52.1% of the assets are financed with debt.
Credit advice for your own amount and term
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
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
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
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
47.9%
Return on assets
-3.8%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
2 d late
2024
6 d late
2023
on the day
2022
23 d late
2021
24 d late
2020
26 d late
2019
27 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.78M▼ 7.3%
2024 · €4.08M
2019: €1.34M
2020: €1.22M
2021: €1.12M
2022: €1.15M
2023: €2.74M
2024: €4.08M
2019 → 2025
Total assets
€7.90M▲ 7.4%
2024 · €7.36M
2019: €4.89M
2020: €10.26M
2021: €7.04M
2022: €4.29M
2023: €8.84M
2024: €7.36M
2019 → 2025
Net result
€-300k
2024 · €1.34M
2019: €28k
2020: €-122k
2021: €-99k
2022: €34k
2023: €1.59M
2024: €1.34M
2019 → 2025
Working capital
€7.36M▲ 7.6%
2024 · €6.84M
2019: €3.67M
2020: €7.39M
2021: €6.77M
2022: €3.83M
2023: €7.50M
2024: €6.84M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.12M-€1.15M▲ 3.0%€2.74M▲ 137%€4.08M▲ 49.1%€3.78M▼ 7.3%
Operating result€-85k-€-43k▲ 50.0%€1.82M€2.05M▲ 12.9%€-223k
Net result€-99k-€34k€1.59M▲ 4,554%€1.34M▼ 15.2%€-300k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €223k after €2.05M in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.90M
Fixed assets
€26k ▼ 41.2%
Current assets
€7.88M ▲ 7.7%
Equity and liabilities €7.90M
Equity
€3.78M ▼ 7.3%
Debt
€4.12M ▲ 25.8%
Debt's share of the balance-sheet total rises from 44.5% to 52.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-218k▼
2024 · €2.07M
Cash flow
€-294k▼
2024 · €1.36M
Current ratio
15.14▼
2024 · 15.42
Quick ratio
5.39▲
2024 · 5.13
Debt to equity
1.09▲
2024 · 0.80
ROE
-7.9%▼
2024 · 32.9%
ROA
-3.8%▼
2024 · 18.3%
Interest coverage
-0.98▼
2024 · 6.31
Debt ≤ 1 year
€520k▲
2024 · €474k
Debt > 1 year
€3.60M▲
2024 · €2.80M
Income taxes
€0▼
2024 · €449k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€7.36M€7.90M▲
Fixed assets21/28€44k€26k▼
Tangible fixed assets22/27€6k€411▼
Plant, machinery and equipment23€6k€411▼
Financial fixed assets28€39k€26k▼
Current assets29/58€7.31M€7.88M▲
Stocks and contracts in progress3€4.88M€5.07M▲
Stocks30/36€5k€5k=
Contracts in progress37€4.88M€5.07M▲
Amounts receivable within one year40/41€537k€1.00M▲
Trade receivables40€421k€973k▲
Other amounts receivable41€116k€30k▼
Current investments50/53€630k€0▼
Cash at bank and in hand54/58€122k€218k▲
Deferred charges and accrued income490/1€1.15M€1.58M▲
Equity and liabilities
Total equity and liabilities10/49€7.36M€7.90M▲
Equity10/15€4.08M€3.78M▼
Contributions10/11€1.18M€1.18M=
Capital10€1.18M€1.18M=
Issued capital100€1.18M€1.18M=
Reserves13€118k€118k=
Non-distributable reserves130/1€118k€118k=
Legal reserve130€118k€118k=
Profit (loss) carried forward14€2.79M€2.49M▼
Amounts payable17/49€3.27M€4.12M▲
Amounts payable after more than one year17€2.80M€3.60M▲
Other amounts payable178/9€2.80M€3.60M▲
Amounts payable within one year42/48€474k€520k▲
Trade debts44€461k€353k▼
Suppliers440/4€461k€353k▼
Advances received on contracts in progress46€13k€0▼
Taxes, remuneration and social security45-€168k
Taxes450/3-€168k
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€5k▼
Other operating charges640/8€14k€340▼
Gross operating margin9900€2.08M€-218k▼
Operating profit (loss)9901€2.05M€-223k▼
Financial income75/76B€71k€146k▲
Recurring financial income75€71k€146k▲
Financial charges65/66B€328k€222k▼
Recurring financial charges65€328k€222k▼
Profit (loss) for the period before taxes9903€1.79M€-300k▼
Income taxes67/77€449k€0▼
Profit (loss) for the period9904€1.34M€-300k▼
Profit (loss) for the period to be appropriated9905€1.34M€-300k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.79M€2.49M▼
Profit (loss) brought forward from the previous period14P€1.45M€2.79M▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 2 days late
2025
30-06
Financial
Weakest financial yearnet €-300k ▼122%
Net result drops to €-300k, the lowest in the series.
06-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 6 days late
2024
30-06
Financial
Liquidity doublescurrent ratio 15.42
Current ratio from 6.90 to 15.42; short-term debt falls from €1.27M to €474k.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €1.59M ▲4554%
Net result €1.59M, the highest in the series.
30-06
Financial
Equity above €2MEq €2.74M ▲137%
2 profitable years in a row build equity to €2.74M.
23-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 23 days late
2022
30-06
Financial
Back to profitnet €34k
Net result €34k after 2 loss-making years.
24-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
30-06
Financial
Liquidity times 11current ratio 40.28
Current ratio from 3.68 to 40.28; short-term debt falls from €2.76M to €172k.
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
Show earlier events
2020
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
2019
29-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
02-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Nieuwpoort · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Albert I laan 278620 NieuwpoortGround area
1.3 ha
Building footprint
630 m²
Volume, LiDAR
916 m³
Parcel 38402E0308/00H000, Flanders · tallest building 10.4 m. Linked by address, not a title deed.
1 establishment unit
Group AP Project Development
since 20062.153.262.022
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38402E0308/00H000 | Flanders | 1.3 ha | 1 · 630 m² | 10.4 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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
2023 · 1 entry · 158 EUR awarded · 158 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 158 EUR | 158 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
TRAVAUX & RENOVATIONS
BE 0424.298.487
Herstal · Eq €3,782,240
VEGAUDI
BE 0883.592.992
Zandhoven · Eq €3,773,432
HBP
BE 0872.539.249
Deinze · Eq €3,796,334
LUC GOETHALS PROMOTOR
BE 0433.460.534
Waasmunster · Eq €3,798,700
3bouw
BE 0884.733.931
Westerlo · Eq €3,813,359
Of 29,797 companies in sector 41001 we hold annual accounts for 16,049. 2,455 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-12-1983
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
68310Real estate agency activities
Sources
Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.