PPP - APS GROUP
ActivePPP - APS GROUP has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €537k and a net result of €-277k. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 23% of 166 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency46▲+5
Growth32=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days only on tighter terms
Liquidity ample (current ratio 2.68 against 1.43 in 2024), but 81.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 18
Relative position
BE, all sectors
reference
Sector 18
lower
← fewer bankruptcies
more bankruptcies →
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€277k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 166 sector peers (2025).
NBB · sector comparisonPosition among 166 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 filingsDeviation 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 →
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
14-09-2026 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
€-277k▼ 14.1%
2024 · €-243k
2018: €25k
2019: €35k
2020: €43k
2021: €48k
2022: €-74k
2023: €190k
2024: €-243k
2018 → 2025
Working capital
€1.62M▲ 68.1%
2024 · €967k
2018: €-359k
2019: €-188k
2020: €-45k
2021: €-22k
2022: €713k
2023: €850k
2024: €967k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.12M-€1.04M▼ 6.6%€1.06M▲ 1.4%€814k▼ 23.0%€537k▼ 34.1%
Operating result€133k-€47k▼ 65.0%€481k▲ 931%€-65k€-235k▼ 262%
Net result€48k-€-74k€190k€-243k€-277k▼ 14.1%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €235k in 2025 against €65k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.85M
Fixed assets
€257k▼ 40.4%
Current assets
€2.59M▼ 18.7%
Equity and liabilities €2.85M
Equity
€537k▼ 34.1%
Debt
€2.31M▼ 17.6%
The debt ratio rises from 77.5% to 81.2%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-43k▼
2024 · €144k
Cash flow
€-85k▼
2024 · €-34k
Solvency
18.8%▼
2024 · 22.5%
Current ratio
2.68▲
2024 · 1.43
Quick ratio
2.22▲
2024 · 1.21
Debt / equity
4.31▲
2024 · 3.45
ROE
-51.7%▼
2024 · -29.9%
ROA
-9.7%▼
2024 · -6.7%
Interest coverage
-0.77▼
2024 · 1.79
Debt
€2.31M▼
2024 · €2.81M
Debt ≤ 1 year
€969k▼
2024 · €2.22M
Debt > 1 year
€1.28M▲
2024 · €223k
Income taxes
€3k▼
2024 · €121k
Staff costs
€1.06M▼
2024 · €1.54M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.62M€2.85M▼
Fixed assets21/28€432k€257k▼
Tangible fixed assets22/27€431k€256k▼
Plant, machinery and equipment23€404k€227k▼
Furniture and vehicles24€27k€29k▲
Financial fixed assets28€1k€1k=
Current assets29/58€3.19M€2.59M▼
Amounts receivable after more than one year29-€23k
Trade receivables290-€23k
Stocks and contracts in progress3€491k€440k▼
Stocks30/36€491k€440k▼
Amounts receivable within one year40/41€2.44M€2.10M▼
Trade receivables40€879k€520k▼
Other amounts receivable41€1.56M€1.58M▲
Cash at bank and in hand54/58€256k€32k▼
Deferred charges and accrued income490/1€7k-
Equity and liabilities
Total equity and liabilities10/49€3.62M€2.85M▼
Equity10/15€814k€537k▼
Contributions10/11€810k€810k=
Capital10€810k€810k=
Issued capital100€810k€810k=
Revaluation surpluses12€243k€243k=
Reserves13€3k€3k=
Non-distributable reserves130/1€3k€3k=
Legal reserve130€3k€3k=
Profit (loss) carried forward14€-243k€-520k▼
Amounts payable17/49€2.81M€2.31M▼
Amounts payable after more than one year17€223k€1.28M▲
Financial debts170/4€223k€1.28M▲
Amounts payable within one year42/48€2.22M€969k▼
Current portion of amounts payable after more than one year42€141k€144k▲
Financial debts43€772k€55k▼
Credit institutions430/8€522k€55k▼
Other loans439€250k-
Trade debts44€1.15M€659k▼
Suppliers440/4€1.15M€659k▼
Taxes, remuneration and social security45€158k€111k▼
Taxes450/3€52k€31k▼
Remuneration and social security454/9€106k€80k▼
Accrued charges and deferred income492/3€362k€65k▼
Income statement
Code20242025
Remuneration, social security and pensions62€1.54M€1.06M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€209k€192k▼
Other operating charges640/8€90k€52k▼
Non-recurring operating charges66A€75k-
Gross operating margin9900€1.85M€1.06M▼
Operating profit (loss)9901€-65k€-235k▼
Financial income75/76B€24k€16k▼
Recurring financial income75€24k€16k▼
Financial charges65/66B€80k€56k▼
Recurring financial charges65€80k€56k▼
Profit (loss) for the period before taxes9903€-122k€-274k▼
Income taxes67/77€121k€3k▼
Profit (loss) for the period9904€-243k€-277k▼
Profit (loss) for the period to be appropriated9905€-243k€-277k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-243k€-520k▼
Profit (loss) brought forward from the previous period14P-€-243k
Social balance
Average headcount (FTE)908720.714.2▼
The notes to these accounts (12 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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-277k
Net result drops to €-277k, the lowest in the series.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Back to profitnet €190k
Net result €190k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 89 days late
2019
31-12
Financial
Equity above €1MEq €1.03M ▲3.5%
2 profitable years in a row build equity to €1.03M.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Lier · 1 establishment unit since 2012
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.
Ondernemersstraat 112500 LierGround area
4,426 m²
Parcel 12392A0524/00C003, Flanders. Linked by address, not a title deed.
1 establishment unit
PPP - APS GROUP
since 20122.216.568.774
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12392A0524/00C003 | Flanders | 4,426 m² | - | - |
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.
Recognitions · licences · registrations
Dual-learning approval
14 endedSimilar companies · same sector, comparable size
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AUGUSTYNEN
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IMPRIM MANAGEMENT
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Of 1,594 companies in sector 18120 we hold annual accounts for 803. 564 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-12-2012
Fiscal year end31-12
Activities, NACEBEL
18120Other printing
18130Pre-press and pre-media services
18140Printing and reproduction of recorded media
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.