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APROJECTS

Active
Public limited companyfounded 200323 yrs activeIndiëstraat 2, 2000 Antwerpen, BelgiumKBO/BCE: BE 0480.252.839
Summary

APROJECTS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.69M and a net result of €2.78M. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 655 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability81▲+45
Solvency57▲+4
Growth85▲+3
Track record100
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €700k at 30 days acceptable
Liquidity short (current ratio 0.66 against 0.84 in 2024; short-term debt: 47.4% and cash: 0.7% of total assets), and 67.7% of the assets are financed with debt.
Credit check for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more bankruptcies
← 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 2025
Solvency, return and age of the figures
Solvency
32.3%
Return on assets
8.4%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 23 years 0 30 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
on the day
2024
62 d late
2023
163 d late
2022
99 d late
2021
26 d late
2020
164 d late
2019
49 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 months
Position in the running window
25-09-2026 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

Financials · fiscal year 2025, full schema

Turnover
€28.63M▲ 49.1%
2024 · €19.21M
2018: €7.48M 2019: €7.18M▼ -4.0% vs 2018lowest in 8 years 2020: €11.17M▲ +55.6% vs 2019 2021: €15.50M▲ +38.7% vs 2020 2022: €23.82M▲ +53.7% vs 2021 2023: €24.56M▲ +3.1% vs 2022 2024: €19.21M▼ -21.8% vs 2023 2025: €28.63M▲ +49.1% vs 2024highest in 8 years
2018 → 2025
EBIT margin
13.6%▲ 11.6pp
2024 · 1.9%
2018: -4.6%lowest in 8 years 2019: 5.1%▲ +211% vs 2018 2020: 4.5%▼ -11.9% vs 2019 2021: 3.3%▼ -27.4% vs 2020 2022: 2.4%▼ -27.7% vs 2021 2023: 1.3%▼ -45.9% vs 2022 2024: 1.9%▲ +51.2% vs 2023 2025: 13.6%▲ +602% vs 2024highest in 8 years
2018 → 2025
Net result
€2.78M▲ 723%
2024 · €337k
2018: €-337klowest in 8 years 2019: €357k▲ +206% vs 2018 2020: €402k▲ +12.8% vs 2019 2021: €354k▼ -11.9% vs 2020 2022: €357k▲ +0.8% vs 2021 2023: €49k▼ -86.4% vs 2022 2024: €337k▲ +592% vs 2023 2025: €2.78M▲ +723% vs 2024highest in 8 years
2018 → 2025
Working capital
€-5.30M▼ 200%
2024 · €-1.77M
2018: €1.94M 2019: €2.34M▲ +20.9% vs 2018 2020: €2.52M▲ +7.6% vs 2019highest in 8 years 2021: €1.36M▼ -45.9% vs 2020 2022: €1.04M▼ -24.1% vs 2021 2023: €1.09M▲ +5.5% vs 2022 2024: €-1.77M▼ -262% vs 2023 2025: €-5.30M▼ -200% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20212022202320242025Trend
Turnover€15.50M-€23.82M▲ 53.7%€24.56M▲ 3.1%€19.21M▼ 21.8%€28.63M▲ 49.1% 2021: €15.50Mlowest in 5 years 2022: €23.82M▲ +53.7% vs 2021 2023: €24.56M▲ +3.1% vs 2022 2024: €19.21M▼ -21.8% vs 2023 2025: €28.63M▲ +49.1% vs 2024highest in 5 years
Equity€3.32M-€3.67M▲ 10.8%€3.72M▲ 1.3%€7.91M▲ 113%€10.69M▲ 35.1% 2021: €3.32Mlowest in 5 years 2022: €3.67M▲ +10.8% vs 2021 2023: €3.72M▲ +1.3% vs 2022 2024: €7.91M▲ +113% vs 2023 2025: €10.69M▲ +35.1% vs 2024highest in 5 years
Operating result€507k-€563k▲ 11.1%€314k▼ 44.2%€371k▲ 18.2%€3.89M▲ 947% 2021: €507k 2022: €563k▲ +11.1% vs 2021 2023: €314k▼ -44.2% vs 2022lowest in 5 years 2024: €371k▲ +18.2% vs 2023 2025: €3.89M▲ +947% vs 2024highest in 5 years
Net result€354k-€357k▲ 0.8%€49k▼ 86.4%€337k▲ 592%€2.78M▲ 723% 2021: €354k 2022: €357k▲ +0.8% vs 2021 2023: €49k▼ -86.4% vs 2022lowest in 5 years 2024: €337k▲ +592% vs 2023 2025: €2.78M▲ +723% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
€0€1.00M€2.00M€3.00M€4.00MOperating result 2021: €507k€507kNet result 2021: €354k€354kOperating result 2022: €563k€563kNet result 2022: €357k€357kOperating result 2023: €314k€314kNet result 2023: €49k€49kOperating result 2024: €371k€371kNet result 2024: €337k€337kOperating result 2025: €3.89M€3.89MNet result 2025: €2.78M€2.78M20212022202320242025€0€1M€2M€3M€4MOperating result 2023: €314k€314kNet result 2023: €49k€49kOperating result 2024: €371k€371kNet result 2024: €337k€337kOperating result 2025: €3.89M€3.9MNet result 2025: €2.78M€2.8M202320242025
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 947% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33.13M
Fixed assets €22.72M ▲ 19.5%
Current assets €10.41M ▲ 12.2%
Equity and liabilities €33.13M
Equity €10.69M ▲ 35.1%
Debt €22.45M ▲ 10.1%
Debt's share of the balance-sheet total falls from 72.0% to 67.7%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€4.61M▲
2024 · €928k
Cash flow
€3.50M▲
2024 · €894k
Current ratio
0.66▼
2024 · 0.84
Debt to equity
2.10▼
2024 · 2.58
ROE
26.0%▲
2024 · 4.3%
ROA
8.4%▲
2024 · 1.2%
Interest coverage
9.93▲
2024 · 1.61
Debt ≤ 1 year
€15.71M▲
2024 · €11.05M
Debt > 1 year
€6.35M▼
2024 · €7.47M
Income taxes
€970k▲
2024 · €93k
Staff costs
€1.73M▼
2024 · €1.79M
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 · 81 lines
Balance sheet Code20242025
Assets
Total assets20/58€28.29M€33.13M▲
Fixed assets21/28€19.01M€22.72M▲
Tangible fixed assets22/27€12.61M€11.94M▼
Land and buildings22€10.87M€0▼
Plant, machinery and equipment23€1.25M€0▼
Furniture and vehicles24€207k€152k▼
Leasing and similar rights25€278k€212k▼
Other tangible fixed assets26-€11.58M
Financial fixed assets28€6.40M€10.77M▲
Affiliated companies280/1€6.40M€10.77M▲
Participating interests280€2.56M€2.56M=
Amounts receivable281€3.84M€8.21M▲
Other financial fixed assets284/8€0€5k▲
Amounts receivable and cash guarantees285/8€0€5k▲
Current assets29/58€9.29M€10.41M▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€6.40M€10.04M▲
Trade receivables40€4.81M€7.47M▲
Other amounts receivable41€1.59M€2.57M▲
Cash at bank and in hand54/58€1.40M€218k▼
Deferred charges and accrued income490/1€1.49M€156k▼
Equity and liabilities
Total equity and liabilities10/49€28.29M€33.13M▲
Equity10/15€7.91M€10.69M▲
Contributions10/11€125k€125k=
Capital10€125k€125k=
Issued capital100€125k€125k=
Revaluation surpluses12€3.83M€3.65M▼
Reserves13€3.95M€6.91M▲
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Distributable reserves133€3.94M€6.90M▲
Profit (loss) carried forward14€653€820▲
Amounts payable17/49€20.38M€22.45M▲
Amounts payable after more than one year17€7.47M€6.35M▼
Financial debts170/4€7.47M€6.35M▼
Leasing and similar obligations172€210k€153k▼
Credit institutions173€7.26M€6.19M▼
Amounts payable within one year42/48€11.05M€15.71M▲
Current portion of amounts payable after more than one year42€1.12M€1.12M▼
Financial debts43€2.67M€3.26M▲
Credit institutions430/8€2.67M€3.26M▲
Trade debts44€4.43M€6.83M▲
Suppliers440/4€4.43M€6.83M▲
Advances received on contracts in progress46€18k€18k=
Taxes, remuneration and social security45€292k€1.09M▲
Taxes450/3€83k€906k▲
Remuneration and social security454/9€209k€182k▼
Other amounts payable47/48€2.51M€3.39M▲
Accrued charges and deferred income492/3€1.87M€387k▼
Income statement Code20242025
Operating income70/76A€20.41M€30.64M▲
Turnover70€19.21M€28.63M▲
Other operating income74€1.18M€2.01M▲
Non-recurring operating income76A€21k€0▼
Operating charges60/66A€20.04M€26.75M▲
Goods for resale, raw materials and consumables60€12.95M€19.59M▲
Purchases600/8€12.95M€19.59M▲
Services and other goods61€3.51M€3.77M▲
Remuneration, social security and pensions62€1.79M€1.73M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€556k€724k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-1.23M€82k▲
Other operating charges640/8€2.46M€862k▼
Operating profit (loss)9901€371k€3.89M▲
Financial income75/76B€876k€568k▼
Recurring financial income75€876k€568k▼
Income from financial fixed assets750€674k€428k▼
Other financial income752/9€202k€141k▼
Financial charges65/66B€817k€709k▼
Recurring financial charges65€817k€709k▼
Debt charges650€578k€465k▼
Other financial charges652/9€239k€244k▲
Profit (loss) for the period before taxes9903€430k€3.75M▲
Income taxes67/77€93k€970k▲
Taxes670/3€95k€970k▲
Tax adjustments and reversals of tax provisions77€2k€0▼
Profit (loss) for the period9904€337k€2.78M▲
Profit (loss) for the period to be appropriated9905€337k€2.78M▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.92M€2.78M▼
Profit (loss) brought forward from the previous period14P€3.58M€653▼
Transfer to equity691/2€3.92M€2.78M▼
To other reserves6921€3.92M€2.78M▼
Social balance
Average headcount (FTE)908719.719.9▲

The notes to these accounts (115 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement
Line20212022202320242025Change
Operating income70/76A€15.58M€24.14M€25.36M€20.41M€30.64M▲ 50.2%
Turnover70€15.50M€23.82M€24.56M€19.21M€28.63M▲ 49.1%
Other operating income74€79k€324k€797k€1.18M€2.01M▲ 70.3%
Non-recurring operating income76A---€21k€0▼ 100%
Operating charges60/66A€15.07M€23.58M€25.04M€20.04M€26.75M▲ 33.5%
Goods for resale, raw materials and consumables60€11.92M€18.29M€19.77M€12.95M€19.59M▲ 51.3%
Purchases600/8€11.92M€18.29M€19.77M€12.95M€19.59M▲ 51.3%
Services and other goods61€1.97M€2.50M€3.10M€3.51M€3.77M▲ 7.1%
Remuneration, social security and pensions62€1.08M€1.26M€1.83M€1.79M€1.73M▼ 3.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€98k€108k€324k€556k€724k▲ 30.1%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€1.43M-€-1.23M€82k▲ 107%
Provisions for liabilities and charges: additions (uses and reversals)635/8-€-5k----
Other operating charges640/8€8k€4k€20k€2.46M€862k▼ 65.0%
Operating profit (loss)9901€507k€563k€314k€371k€3.89M▲ 947%
Financial income75/76B€50k€265k€476k€876k€568k▼ 35.1%
Recurring financial income75€50k€265k€476k€876k€568k▼ 35.1%
Income from financial fixed assets750---€674k€428k▼ 36.5%
Other financial income752/9€50k€265k€476k€202k€141k▼ 30.4%
Financial charges65/66B€68k€317k€709k€817k€709k▼ 13.2%
Recurring financial charges65€68k€317k€709k€817k€709k▼ 13.2%
Debt charges650---€578k€465k▼ 19.6%
Other financial charges652/9€68k€317k€709k€239k€244k▲ 2.2%
Profit (loss) for the period before taxes9903€488k€511k€81k€430k€3.75M▲ 772%
Income taxes67/77€134k€153k€32k€93k€970k▲ 947%
Taxes670/3€136k€153k€40k€95k€970k▲ 924%
Tax adjustments and reversals of tax provisions77€2k-€8k€2k€0▼ 100%
Profit (loss) for the period9904€354k€357k€49k€337k€2.78M▲ 723%
Profit (loss) for the period to be appropriated9905€354k€357k€49k€337k€2.78M▲ 723%
Line20212022202320242025Change
Assets
Total assets20/58€10.80M€13.24M€20.21M€28.29M€33.13M▲ 17.1%
Fixed assets21/28€2.72M€3.97M€11.03M€19.01M€22.72M▲ 19.5%
Intangible fixed assets21€4k€2k----
Tangible fixed assets22/27€291k€1.54M€8.61M€12.61M€11.94M▼ 5.3%
Land and buildings22--€8.11M€10.87M€0▼ 100%
Plant, machinery and equipment23€166k€102k€261k€1.25M€0▼ 100%
Furniture and vehicles24€124k€168k€239k€207k€152k▼ 26.4%
Leasing and similar rights25---€278k€212k▼ 23.8%
Other tangible fixed assets26€1k€535--€11.58M-
Assets under construction and advance payments27-€1.27M----
Financial fixed assets28€2.42M€2.42M€2.42M€6.40M€10.77M▲ 68.4%
Affiliated companies280/1€2.42M€2.42M€2.42M€6.40M€10.77M▲ 68.3%
Participating interests280€2.42M€2.42M€2.42M€2.56M€2.56M=
Amounts receivable281---€3.84M€8.21M▲ 114%
Other financial fixed assets284/8€4k€3k€2k€0€5k-
Amounts receivable and cash guarantees285/8€4k€3k€2k€0€5k-
Current assets29/58€8.08M€9.28M€9.19M€9.29M€10.41M▲ 12.2%
Stocks and contracts in progress3---€0€0-
Amounts receivable within one year40/41€7.46M€8.73M€8.12M€6.40M€10.04M▲ 56.9%
Trade receivables40€5.66M€5.84M€6.28M€4.81M€7.47M▲ 55.2%
Other amounts receivable41€1.80M€2.90M€1.84M€1.59M€2.57M▲ 62.0%
Cash at bank and in hand54/58€257k€315k€690k€1.40M€218k▼ 84.4%
Deferred charges and accrued income490/1€361k€230k€378k€1.49M€156k▼ 89.5%
Equity and liabilities
Total equity and liabilities10/49€10.80M€13.24M€20.21M€28.29M€33.13M▲ 17.1%
Equity10/15€3.32M€3.67M€3.72M€7.91M€10.69M▲ 35.1%
Contributions10/11€125k€125k€125k€125k€125k=
Capital10€125k€125k€125k€125k€125k=
Issued capital100€125k€125k€125k€125k€125k=
Revaluation surpluses12---€3.83M€3.65M▼ 4.9%
Reserves13€13k€13k€13k€3.95M€6.91M▲ 75.1%
Non-distributable reserves130/1€13k€13k€13k€13k€13k=
Legal reserve130€13k€13k€13k€13k€13k=
Distributable reserves133---€3.94M€6.90M▲ 75.3%
Profit (loss) carried forward14€3.18M€3.53M€3.58M€653€820▲ 25.5%
Provisions and deferred taxes16€5k-----
Provisions for liabilities and charges160/5€5k-----
Other liabilities and charges164/5€5k-----
Amounts payable17/49€7.48M€9.57M€16.49M€20.38M€22.45M▲ 10.1%
Amounts payable after more than one year17-€1.32M€8.33M€7.47M€6.35M▼ 15.0%
Financial debts170/4-€1.32M€8.33M€7.47M€6.35M▼ 15.0%
Leasing and similar obligations172---€210k€153k▼ 27.0%
Credit institutions173-€1.32M€8.33M€7.26M€6.19M▼ 14.6%
Amounts payable within one year42/48€6.72M€8.24M€8.09M€11.05M€15.71M▲ 42.2%
Current portion of amounts payable after more than one year42-€444k€1.22M€1.12M€1.12M▼ 0.3%
Financial debts43---€2.67M€3.26M▲ 22.3%
Credit institutions430/8---€2.67M€3.26M▲ 22.3%
Trade debts44€4.89M€6.22M€6.09M€4.43M€6.83M▲ 54.1%
Suppliers440/4€4.89M€6.22M€6.09M€4.43M€6.83M▲ 54.1%
Advances received on contracts in progress46---€18k€18k=
Taxes, remuneration and social security45€139k€180k€200k€292k€1.09M▲ 273%
Taxes450/3€35k€19k-€83k€906k▲ 990%
Remuneration and social security454/9€104k€160k€200k€209k€182k▼ 12.7%
Other amounts payable47/48€1.68M€1.40M€582k€2.51M€3.39M▲ 34.8%
Accrued charges and deferred income492/3€764k€10k€75k€1.87M€387k▼ 79.3%
Line20212022202320242025Change
Profit (loss) for the period9904€354k€357k€49k€337k€2.78M▲ 723%
+ Depreciation and write-downs630€98k€108k€324k€556k€724k▲ 30.1%
Operating cash flow (approximation)€452k€465k€373k€894k€3.50M▲ 292%
Investment in fixed assets (approximation)-€-1.35M€-7.39M€-8.53M€-4.44M▲ 48.0%
Change in cash-€58k€376k€712k€-1.18M▼ 266%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial Highest result since 2018net €2.78M ▲723%
Operating result €3.89M, net result €2.78M, both a record.
31-12
Financial Equity above €10MEq €10.69M ▲35.1%
7 profitable years in a row build equity to €10.69M.
01-10
NBB filing Annual accounts filed
fiscal year 2024 · full schema · 62 days late
10-01
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 163 days late
2024
31-12
Financial Equity above €5MEq €7.91M ▲113%
6 profitable years in a row build equity to €7.91M.
2023
07-11
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 99 days late
2022
26-08
NBB filing Annual accounts filed
fiscal year 2021 · full schema · 26 days late
11-01
NBB filing Annual accounts filed
fiscal year 2020 · full schema · 164 days late
2020
18-09
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 49 days late
2019
31-12
Financial Back to profitnet €357k
Net result €357k after one loss-making year.
09-08
NBB filing Annual accounts filed
fiscal year 2018 · full schema · 9 days late
2018
11-07
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
25-07
NBB filing Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 18 acts read
About the unread acts

We know of 18 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
18 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, Antwerpen · 1 establishment unit since 2003
seat establishment The establishment unit on the map
Ground area
532 m²
Building footprint
509 m²
Volume, LiDAR
7,929 m³
Parcel 11807G0155/00S006, Flanders · tallest building 20.6 m, ±6 floors. Linked by address, not a title deed.
12 companies at this address See who is registered here
1 establishment unit
Indiëstraat 2, 2000 Antwerpen
NACE 63112
since 20032.131.925.188
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
11807G0155/00S006 Flanders 532 m² 1 · 509 m² 20.6 m · 6 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.

Recognitions · licences · registrations

Legal Entity Identifier

699400V712HJ626JFG15
live in the LEI register

Similar companies · same sector, comparable size

Of 3,188 companies in sector 52250 we hold annual accounts for 1,954. 446 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded19-05-2003
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
49410Freight transport by road
52100Warehousing and storage
52241Warehousing and support activities for transportation
52249Warehousing and support activities for transportation

Scores and ratios are computed by Checked and are not a credit decision.