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PPP - APS GROUP

Active
Public limited companyfounded 201213 yrs activeOndernemersstraat 11, 2500 Lier, BelgiumKBO/BCE: BE 0502.276.787
Summary

The computed 12-month bankruptcy probability of PPP - APS GROUP is 1.9% (moderate). The 2025 annual accounts show equity of €536,511 and a net result of -€277,139. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 23% of 193 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
PPP - APS GROUPActiveChecked score 53/100
Risk analysis ReportCompare

Overview

Activity
Other printing
NACE 18120
1 site
Size
€2.9mtotal assets 2025
Staff
14.2 FTE
Equity
€536,511
Loss
-€277,139
Financial health
53 Fair Checked score 2025
Bankruptcy chance 12 m
1.9%
Structure
Parent
PA Group Holding · 100%
Holdings
3
Accounts 2 d early0 of 4 deeds read
Why 53- Loss of €277,139, the second in a row (FY 2025)- 1 of the last 3 late- Equity €536,511 (18.8% of total assets)- Liquidity: current ratio 2.68, cash €31,754, halvedShow the evidence

Checked score

Score 2025
53 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 21% of its sector peers (NACE 18, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 44-3
equity 18.8% of total assets
Liquidity 36+9
short-term debt 34.0% · cash 1.1%
Profitability 7-18
return on assets -9.7%
Bankruptcy probability, 12 months
1.9% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (135 companies)
Last 24 months 11-2024: 0.3% 12-2024: 0.3%● 0.0% vs 11-2024 01-2025: 0.3%▼ -0.7% vs 12-2024 02-2025: 0.3%● 0.0% vs 01-2025 03-2025: 0.3%▼ -2.6% vs 02-2025lowest value 04-2025: 0.3%▲ +2.7% vs 03-2025 05-2025: 0.3%▲ +3.0% vs 04-2025 06-2025: 0.3%▲ +17.6% vs 05-2025 07-2025: 0.4%▲ +28.7% vs 06-2025 08-2025: 0.9%▲ +120% vs 07-2025 09-2025: 0.9%● 0.0% vs 08-2025 10-2025: 0.9%● 0.0% vs 09-2025 11-2025: 0.9%● 0.0% vs 10-2025 12-2025: 0.9%● 0.0% vs 11-2025 01-2026: 0.9%▼ -0.5% vs 12-2025 02-2026: 0.9%● 0.0% vs 01-2026 03-2026: 1.0%▲ +13.3% vs 02-2026 04-2026: 1.1%▲ +5.4% vs 03-2026 05-2026: 1.1%▲ +1.5% vs 04-2026 06-2026: 1.2%▲ +8.7% vs 05-2026 07-2026: 1.3%▲ +5.7% vs 06-2026 08-2026: 1.9%▲ +44.7% vs 07-2026highest value 09-2026: 1.9%● 0.0% vs 08-2026highest value 10-2026: 1.9%● 0.0% vs 09-2026highest value
  • Loss of €277,139, the second in a row (FY 2025) raises the probability
  • 1 of the last 3 late raises the probability
  • Equity €536,511 (18.8% of total assets) raises the probability
  • Liquidity: current ratio 2.68, cash €31,754, halved raises the probability
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 2.68 against 1.43 in 2024; short-term debt: 34% and cash: 1.1% of total assets), but 81.2% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 18, small). Better than this share of them on solvency 24%, liquidity 38%, profitability 6%, growth against the median 14%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Loss of €277,139, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Equity €536,511 (18.8% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 2.68, cash €31,754, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€277,139
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 193 sector peers (2025).
NBB · sector comparison
Position among 193 sector peers
Solvency
better than 23%
← weakest strongest →
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
2 d early
2024
9 d early
2023
61 d late
2022
29 d late
2021
1 d early
2020
31 d early
2019
89 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 19 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.

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. Usually files around 30 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Weakest financial yearnet -€277,139
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Caution: Among the weakest 13% on net resultsector median €23,592 · 193 companies -€277,139 View
  • Controlled by PA Group Holdingitself parent of 2 companies 100% View
  • Caution: 2 loss-making years in a rowloss fiscal year 2025 -€277,139 View
  • Caution: Equity fell in 2025from €813,650 to €536,511 ▼ 34.1% View

By topic

Financials

Fiscal year
2025
Total assets
€2.9m
Loss
-€277,139
Solvency
18.8%
Total assets▼ 21.3%
Net result
20182025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 29-07-2026Annual accounts filed
  2. 31-12-2025Weakest financial year
  3. 22-07-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Other printingNACE 18120
Founded
28-12-2012
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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