NORMAL SITUATION

AP MANAGEMENT

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Financial year 2025 · closed on 30/09/2025

Net result

-12,2 k €

-103.0% YoY

Gross margin

16,1 k €

-98.0% YoY

Equity

4,2 M €

+31.5% YoY

Company — Normal situation.

What does AP MANAGEMENT do?

AP MANAGEMENT is a company registered in Belgium.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.270.432

Legal form

Public limited company

Contributed capital

186 000,00 €

Latest accounts

30/09/2025

Signals

Solid equityGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	16,1 k €	-98.0%	804,7 k €	+43.0%	562,6 k €	+103%	277,2 k €	-38.0%	447,2 k €	+57.3%	284,3 k €	-33.6%	428 k €	-8.5%	467,8 k €	+141%	193,9 k €	+59.3%	121,7 k €	+166%	-185,5 k €	-156%	334,1 k €	-11.5%	377,7 k €	-24.7%	501,7 k €	-16.2%	598,8 k €	+39.9%	428 k €	+79.5%	238,5 k €	-38.2%	386,1 k €	+3.8%	372,1 k €	+16.7%	319 k €
EBITDA	12 k €	-98.5%	789,6 k €	+44.1%	547,9 k €	+110%	261,2 k €	-43.8%	464,7 k €	+78.8%	260 k €	-48.4%	503,4 k €	-0.0%	503,6 k €	+138%	212 k €	-21.5%	270,2 k €	+5.0%	257,4 k €	-14.7%	301,8 k €	-20.5%	379,5 k €	-9.9%	421 k €	+4.6%	402,6 k €	+52.6%	263,8 k €	+17.6%	224,3 k €	-29.3%	317,3 k €	+13.5%	279,5 k €	+4.0%	268,7 k €
Operating result	-5,3 k €	-101%	765,8 k €	+52.3%	502,7 k €	+145%	205,4 k €	-44.8%	372,3 k €	+116%	172,2 k €	-60.7%	438,2 k €	-2.3%	448,7 k €	+172%	164,8 k €	-24.8%	219,1 k €	+24.8%	175,6 k €	-20.2%	220 k €	-26.9%	301,2 k €	-12.5%	344,4 k €	+1.9%	338,1 k €	+67.4%	202 k €	+24.3%	162,5 k €	-36.4%	255,5 k €	+17.1%	218,3 k €	+24.8%	174,9 k €
Net result	-12,2 k €	-103%	401,9 k €	+431%	-121,4 k €	-303%	59,8 k €	-68.7%	191,3 k €	+238%	56,5 k €	-81.9%	312,6 k €	+2.4%	305,2 k €	+332%	70,6 k €	-82.3%	398,7 k €	+348%	89,1 k €	-40.8%	150,5 k €	-27.4%	207,2 k €	-10.0%	230,2 k €	-90.6%	2,4 M €	+2578%	91,5 k €	+74.7%	52,4 k €	-65.8%	153 k €	+57.7%	97 k €	+85.3%	52,3 k €
Balance sheet
Equity	4,2 M €	+31.5%	3,2 M €	-18.1%	3,9 M €	+33.7%	3 M €	+2.1%	2,9 M €	+7.1%	2,7 M €	+2.1%	2,6 M €	-29.2%	3,7 M €	+8.9%	3,4 M €	+2.1%	3,4 M €	+13.5%	3 M €	+3.1%	2,9 M €	+0.0%	2,9 M €	+7.8%	2,7 M €	+4.3%	2,6 M €	+1504%	159 k €	-40.6%	267,6 k €	+2.8%	260,2 k €	+20.9%	215,2 k €	+39.6%	154,2 k €
Total assets	5,3 M €	+35.2%	3,9 M €	-42.0%	6,8 M €	+14.6%	5,9 M €	-1.9%	6 M €	-0.5%	6 M €	+4.2%	5,8 M €	+2.5%	5,7 M €	+9.6%	5,2 M €	-3.8%	5,4 M €	+14.8%	4,7 M €	-9.4%	5,2 M €	-3.7%	5,4 M €	+12.8%	4,8 M €	+2.4%	4,6 M €	+101%	2,3 M €	+2.4%	2,3 M €	-2.2%	2,3 M €	+1.4%	2,3 M €	+0.2%	2,3 M €
Cash	507,8 €	-40.7%	856,4 €	-99.9%	627,6 k €	+193%	214,6 k €	-13.1%	246,9 k €	+60.9%	153,4 k €		–		–		940,2 €	-99.9%	642,5 k €	+9613%	6,6 k €	-95.2%	137 k €	-60.2%	344,3 k €	+63.0%	211,2 k €	+24.8%	169,2 k €	+3.0%	164,3 k €	+26.2%	130,2 k €	+193%	44,5 k €	-74.0%	171,1 k €	+23.5%	138,6 k €
Debts	564,9 k €	+49.6%	377,5 k €	-50.9%	768,9 k €	-15.4%	908,9 k €	-13.2%	1 M €	-15.4%	1,2 M €	+33.3%	927,9 k €	+57.8%	588 k €	+82.4%	322,4 k €	-43.9%	574,4 k €	+186%	200,6 k €	-34.6%	306,5 k €	-37.3%	488,9 k €	-15.5%	578,6 k €	-6.2%	617,1 k €	-26.5%	839,1 k €	+2.3%	820,2 k €	-5.8%	870,3 k €	-6.5%	930,6 k €	-8.1%	1 M €

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 11 ended

Active mandates

Lucie BERCHEM

Mandate

Active

Vincent BERCHEM

Mandate

Active

Ended mandates

Antonietta PICCIOTTOLI

Managing director · since 03 mars 2017 · until 03 mars 2023

Ended

Bénédicte URBAIN

Director · since 03 mars 2017 · until 03 mars 2023

Ended

Muriel URBAIN

Director · since 03 mars 2017 · until 03 mars 2023

Ended

Antonietta PICCIOTTOLI

Managing director · since 04 mars 2011 · until 04 mars 2017

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Abridged model	Micro model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/05/2026	16/04/2025	16/05/2024	18/04/2023	28/03/2022	28/04/2021
General meeting	29/04/2026	14/04/2025	19/02/2024	03/03/2023	04/03/2022	18/03/2021
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

25 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	29/04/2026	30/05/2026	French	PDF
Micro model	30/09/2024	14/04/2025	16/04/2025	French	PDF
Micro model	30/09/2023	19/02/2024	16/05/2024	French	PDF
Abridged model	30/09/2022	03/03/2023	18/04/2023	French	PDF
Micro model	30/09/2021	04/03/2022	28/03/2022	French	PDF
Micro model	30/09/2020	18/03/2021	28/04/2021	French	PDF
Micro model	30/09/2019	06/03/2020	18/05/2020	French	PDF
Micro model	30/09/2018	15/03/2019	24/04/2019	French	PDF
Micro model	30/09/2017	03/03/2018	19/04/2018	French	PDF
Abridged model	30/09/2016	03/03/2017	04/05/2017	French	PDF
Abridged model	30/09/2015	14/03/2016	31/03/2016	French	PDF
Abridged model	30/09/2014	06/03/2015	20/04/2015	French	PDF
Abridged model	30/09/2013	07/03/2014	12/05/2014	French	PDF
Abridged model	30/09/2012	01/03/2013	17/05/2013	French	PDF
Abridged model	30/09/2011	02/03/2012	14/05/2012	French	PDF
Abridged model	30/09/2010	04/03/2011	28/03/2011	French	PDF
Abridged model	30/09/2009	05/03/2010	17/03/2010	French	PDF
Abridged model	30/09/2008	06/03/2009	13/05/2009	French	PDF
Abridged model	30/09/2007	07/03/2008	24/04/2008	French	PDF
Abridged model	30/09/2006	02/03/2007	30/05/2007	French	PDF
Abridged model	30/09/2005	03/03/2006	05/04/2006	French	PDF
Abridged model	30/09/2004	04/03/2005	08/04/2005	French	PDF
Abridged model	30/09/2003	05/03/2004	13/04/2004	French	PDF
Abridged model	30/09/2002	10/03/2003	27/05/2003	French	PDF

View all 25 filings

Estimate

Indicative valuation

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 30/09/2025 · 2 active · 11 ended

Active mandates

Lucie BERCHEM

Mandate

Active

Vincent BERCHEM

Mandate

Active

Ended mandates

Antonietta PICCIOTTOLI

Managing director · since 03 mars 2017 · until 03 mars 2023

Ended

Bénédicte URBAIN

Director · since 03 mars 2017 · until 03 mars 2023

Ended

Muriel URBAIN

Director · since 03 mars 2017 · until 03 mars 2023

Ended

Antonietta PICCIOTTOLI

Managing director · since 04 mars 2011 · until 04 mars 2017

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Dissolution10/04/2026
RUBRIQUE FIN (CESSATION, ANNULATION CESSATION, NULLITE, CONC, REORGANISATION JUDICIAIRE, ETC...) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring12/12/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring07/07/2025
OBJET - CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring09/05/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
PDF
Mandates06/08/2024
SIEGE SOCIAL - 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 2025-12,2 k €↓
2024
Annual accounts 2024401,9 k €↑
2023
Annual accounts 2023-121,4 k €↓
2022
Annual accounts 202259,8 k €↓
2021
Annual accounts 2021191,3 k €↑
2020
Annual accounts 202056,5 k €↓
2019
Annual accounts 2019312,6 k €↑
2018
Annual accounts 2018305,2 k €↑
2017
Annual accounts 201770,6 k €↓
2016
Annual accounts 2016398,7 k €↑
2015
Annual accounts 201589,1 k €↓
2014
Annual accounts 2014150,5 k €↓
2013
Annual accounts 2013207,2 k €↓
2012
Annual accounts 2012230,2 k €↓
2011
Annual accounts 20112,4 M €↑
2010
Annual accounts 201091,5 k €↑
2009
Annual accounts 200952,4 k €↓
2008
Annual accounts 2008153 k €↑
2007
Annual accounts 200797 k €↑
2006
Annual accounts 200652,3 k €

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

AP MANAGEMENT

Overview

What does AP MANAGEMENT do?

Trend over 20 financial years

Board of directors

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