ACTIVE

A.P.A.C.

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Financial year 2025 · closed on 31/12/2025

Net result

43,5 k €

-66.9% YoY

Gross margin

3,1 M €

-4.3% YoY

Equity

2,3 M €

+0.6% YoY

Workforce

89,0 ETP

-4.3% YoY

What does A.P.A.C. do?

A.P.A.C. is a Non-profit organization incorporated in 1995. Its main activity is: Technical and vocational secondary education. Its registered office is in Manage. It employs on average 89,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.685.007

Incorporation

25/04/1995

Legal form

Non-profit organization

Registered office

rue du Chenia 13 box A
7170 Manage · WallonieSee on map

Latest accounts

31/12/2025

Average workforce

89,0 ETP

Activities (NACE)

85322Technical and vocational secondary education· main 88993Other social work activities without accommodation n.e.c.88995Other social work activities without accommodation n.e.c.

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015
Income statement
Gross margin	3,1 M €	-4.3%	3,3 M €	+2.6%	3,2 M €	-6.1%	3,4 M €	+22.2%	2,8 M €	+18.0%	2,4 M €	-4.1%	2,5 M €	+3.9%	2,4 M €	+11.3%	2,1 M €	-8.3%	2,3 M €	+6.0%	2,2 M €
EBITDA	172 k €	-35.7%	267,3 k €	-33.6%	402,5 k €	-23.3%	524,8 k €	+34.0%	391,7 k €	+53.6%	255 k €	+593%	36,8 k €	-81.5%	198,8 k €	+57.3%	126,4 k €	-37.8%	203,2 k €	+3.3%	196,6 k €
Operating result	40,7 k €	-65.3%	117,2 k €	-48.2%	226 k €	-36.9%	358 k €	+62.7%	220,1 k €	+4.1%	211,3 k €	+225%	-169,4 k €	-924%	20,5 k €	+30.0%	15,8 k €	-0.4%	15,9 k €	+44.0%	11 k €
Net result	43,5 k €	-66.9%	131,2 k €	-43.7%	233,2 k €	-34.4%	355,5 k €	+61.5%	220,2 k €	+4.7%	210,3 k €	+1749%	11,4 k €	+33.6%	8,5 k €	+34.0%	6,4 k €	+84.4%	3,4 k €	+1.0%	3,4 k €
Balance sheet
Equity	2,3 M €	+0.6%	2,2 M €	+4.6%	2,1 M €	+10.2%	1,9 M €	+19.7%	1,6 M €	+12.7%	1,4 M €	+14.2%	1,3 M €	-1.6%	1,3 M €	-2.1%	1,3 M €	-2.6%	1,3 M €	-3.1%	1,4 M €
Total assets	5,1 M €	+3.3%	4,9 M €	+4.9%	4,7 M €	+4.1%	4,5 M €	+0.9%	4,5 M €	+1.6%	4,4 M €	-0.9%	4,5 M €	-3.5%	4,6 M €	-1.3%	4,7 M €	-3.9%	4,9 M €	-4.0%	5,1 M €
Cash	1,6 M €	+14.5%	1,4 M €	+33.2%	1,1 M €	+25.4%	857,3 k €	+35.9%	631 k €	+65.7%	380,8 k €	+231%	115,2 k €	+48.9%	77,4 k €	+516%	12,6 k €	-92.1%	158,9 k €	-46.7%	298 k €
Debts	2,6 M €	+7.9%	2,4 M €	+7.8%	2,2 M €	+23.1%	1,8 M €	-20.9%	2,3 M €	-4.6%	2,4 M €	-1.1%	2,4 M €	-6.6%	2,6 M €	-1.3%	2,6 M €	+1.1%	2,6 M €	-7.0%	2,8 M €
Other
Workforce	89,0 ETP	-4.3%	93,0 ETP	+2.3%	90,9 ETP	-1.5%	92,3 ETP	-6.2%	98,4 ETP	-1.6%	100,0 ETP	+2.0%	98,0 ETP	+6.3%	92,2 ETP	-0.5%	92,7 ETP	+0.9%	91,9 ETP	+1.7%	90,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 36 ended

Active mandates

Benoît LHOST

Director · since 25 avril 2025 · until 27 avril 2028

Active

Guy Niset

Chairman of the board of directors · since 25 avril 2025 · until 27 avril 2028

Active

Jean-Luc Theate

Director · since 25 avril 2025 · until 27 avril 2028

Active

Leila Fourati

Director · since 25 avril 2025 · until 27 avril 2028

Active

Olivier Bleret

Director · since 25 avril 2025 · until 27 avril 2028

Active

Philippe Cornet

Director · since 25 avril 2025 · until 27 avril 2028

Active

Philippe Delcroix

Director · since 25 avril 2025 · until 27 avril 2028

Active

Raymond Angeli

Director · since 25 avril 2025 · until 27 avril 2028

Active

Ended mandates

Benoît LHOST

Director · since 29 avril 2022 · until 25 avril 2025

Ended

Christian Dupont

Director · since 29 avril 2022 · until 25 avril 2025

Ended

Guy Niset

Chairman of the board of directors · since 29 avril 2022 · until 25 avril 2025

Ended

Jean-Luc Theate

Director · since 29 avril 2022 · until 25 avril 2025

Ended

At this address

Other companies at this address

Company	CBE no.
Geveko Markings Belgium● Active	0833.079.253

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/07/2026	19/06/2025	22/05/2024	17/05/2023	07/06/2022	01/06/2021
General meeting	16/04/2026	25/04/2025	26/04/2024	28/04/2023	29/04/2022	23/04/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/04/2026	10/07/2026	French	PDF
Abridged model	31/12/2024	25/04/2025	19/06/2025	French	PDF
Abridged model	31/12/2023	26/04/2024	22/05/2024	French	PDF
Abridged model	31/12/2022	28/04/2023	17/05/2023	French	PDF
Abridged model	31/12/2021	29/04/2022	07/06/2022	French	PDF
Abridged model	31/12/2020	23/04/2021	01/06/2021	French	PDF
Abridged model	31/12/2019	16/07/2020	11/08/2020	French	PDF
Abridged model	31/12/2018	26/04/2019	23/05/2019	French	PDF
Abridged model	31/12/2017	27/04/2018	25/06/2018	French	PDF
Abridged model	31/12/2016	28/04/2017	29/05/2017	French	PDF
Abridged model	31/12/2015	20/05/2016	08/07/2016	French	PDF
m140-f-p	31/12/2014	24/04/2015	28/05/2015	French	PDF
m140-f-p	31/12/2013	25/04/2014	28/05/2014	French	PDF
m140-f-p	31/12/2012	26/04/2013	08/07/2013	French	PDF
m140-f-p	31/12/2011	27/04/2012	21/06/2012	French	PDF
m140-f-p	31/12/2010	29/04/2011	01/06/2011	French	PDF
m140-f-p	31/12/2009	28/04/2010	17/06/2010	French	PDF
m140-f-p	31/12/2008	24/04/2009	12/06/2009	French	PDF
m140-f-p	31/12/2007	25/04/2008	28/05/2008	French	PDF
m140-f-p	31/12/2006	28/04/2007	30/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 8 active · 36 ended

Active mandates

Benoît LHOST

Director · since 25 avril 2025 · until 27 avril 2028

Active

Guy Niset

Chairman of the board of directors · since 25 avril 2025 · until 27 avril 2028

Active

Jean-Luc Theate

Director · since 25 avril 2025 · until 27 avril 2028

Active

Leila Fourati

Director · since 25 avril 2025 · until 27 avril 2028

Active

Olivier Bleret

Director · since 25 avril 2025 · until 27 avril 2028

Active

Philippe Cornet

Director · since 25 avril 2025 · until 27 avril 2028

Active

Philippe Delcroix

Director · since 25 avril 2025 · until 27 avril 2028

Active

Raymond Angeli

Director · since 25 avril 2025 · until 27 avril 2028

Active

Ended mandates

Benoît LHOST

Director · since 29 avril 2022 · until 25 avril 2025

Ended

Christian Dupont

Director · since 29 avril 2022 · until 25 avril 2025

Ended

Guy Niset

Chairman of the board of directors · since 29 avril 2022 · until 25 avril 2025

Ended

Jean-Luc Theate

Director · since 29 avril 2022 · until 25 avril 2025

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/04/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates06/09/2024
DEMISSIONS, NOMINATIONS
PDF
Other10/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates30/11/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates04/12/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates17/09/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates21/09/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates11/10/2016
DENOMINATION - DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202543,5 k €↓
2024
Annual accounts 2024131,2 k €↓
2023
Annual accounts 2023233,2 k €↓
2022
Annual accounts 2022355,5 k €↑
2021
Annual accounts 2021220,2 k €↑
2020
Annual accounts 2020210,3 k €↑
2019
Annual accounts 201911,4 k €↑
2018
Annual accounts 20188,5 k €↑
2017
Annual accounts 20176,4 k €↑
2016
Annual accounts 20163,4 k €↑
2015
Annual accounts 20153,4 k €
25/04/1995
IncorporationNon-profit organization

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

A.P.A.C.

Overview

What does A.P.A.C. do?

Trend over 11 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline