Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2025.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
AP PROPERTIES from Court-Saint-Etienne, company number BE0442178755, closed financial year 2025 with a result of € 86,114 after tax. For that financial year AP PROPERTIES recorded a gross margin of € 519,179 and equity of € 1.2 million. Compared with financial year 2024, the result moved from € 67,820 to € 86,114. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 5, 2026.
€ 1.2 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 86,114
▲ 27% vs 2024
Profit after tax over the fiscal year.
€ 9,382
▼ 32% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.1 million.
Debts at end 2025
€ 1.9 million
▼ 19% vs 2024
€ 356,028 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 66,646
▲ € 60,802 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 40,122
▲ 48% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 451,092 | € 491,979 | € 558,265 | € 519,179 | ▼ 7% |
| Profit after taxes | € -918 | € -5,710 | € 67,820 | € 86,114 | ▲ 27% |
| Equity | € 1,058,366 | € 1,052,656 | € 1,120,475 | € 1,206,589 | ▲ 8% |
| Total debts | € 3,857,695 | € 3,544,183 | € 3,235,810 | € 2,921,736 | ▼ 10% |
| Cash | € 11,118 | € 2,643 | € 13,784 | € 9,382 | ▼ 32% |
| Land & buildings | € 4,874,810 | € 4,654,624 | € 4,447,765 | € 4,240,934 | ▼ 5% |
| Retained profit | € 928,222 | € 922,512 | € 990,331 | € 1,076,445 | ▲ 9% |
| Bank debt | € 3,343,520 | € 2,796,773 | € 2,307,853 | € 1,878,962 | ▼ 19% |
| Balance sheet total | € 5,169,230 | € 4,843,096 | € 4,595,633 | € 4,343,273 | ▼ 5% |
Key figures of AP PROPERTIES, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to AP PROPERTIES?
What happened at AP PROPERTIES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Corrected annual accounts filed for financial year 2025. filed late Source: NBB ↗
- New establishment in Court-Saint-Etienne. KBO
- Start of the company according to the CBE. KBO
In short
From € 918 loss in 2022 to € 86,114 profit in 2025.
Paid € 75,875 in corporate taxes since 2022.
Best year ever: 2025, with € 86,114 profit.
Management
Behind AP PROPERTIES are Xavier VANDENEDE and SOURCES IMMO SA. The same people are also behind IMMO VERDES. Xavier VANDENEDE is also behind PS IMMOBILIERE.
Directors
According to the 2025 annual accounts
Establishments
Establishment units
Physical locations of this company
Avenue des Métallurgistes 22 M
1490 Court-Saint-Etienne
Avenue des Métallurgistes 22 box M
1490 Court-Saint-Etienne
Active since 13 October 1993
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0442.178.755
- VAT number
- BE 0442.178.755
- Registered office
- Avenue des Métallurgistes 22 M, 1490 Court-Saint-Etienne
- Names & denominations
- AP PROPERTIES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 5 October 1990
- Peppol
- Not registered