ACTIVE

APCYP

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Financial year 2025 · closed on 31/12/2025

Net result

119,7 k €

+31.8% YoY

Gross margin

194 k €

+26.6% YoY

Equity

598,4 k €

+13.2% YoY

What does APCYP do?

APCYP is a Private limited company incorporated in 2002. Its registered office is in Ciney.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.518.132

Incorporation

15/05/2002

Legal form

Private limited company

Registered office

Rue Grande(Chevetogne) 40
5590 Ciney · WallonieSee on map

Contributed capital

24 729,58 €

Latest accounts

31/12/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	194 k €	+26.6%	153,2 k €	+14.8%	133,5 k €	+28.4%	103,9 k €	-10.2%	115,7 k €	+52.8%	75,7 k €	+22.4%	61,9 k €	-14.6%	72,4 k €	-45.6%	133,1 k €	-23.1%	173,1 k €	-24.1%	227,9 k €	+55.5%	146,6 k €	+10.1%	133,1 k €	+0.6%	132,3 k €	+20.4%	109,9 k €	-16.0%	130,9 k €	+25.7%	104,1 k €	-0.3%	104,4 k €	+26.2%	82,7 k €	-14.4%	96,6 k €
EBITDA	190,9 k €	+27.1%	150,2 k €	+15.1%	130,5 k €	+34.1%	97,3 k €	-14.2%	113,4 k €	+55.0%	73,1 k €	+27.4%	57,4 k €	-18.2%	70,2 k €	-45.9%	129,7 k €	-24.1%	170,9 k €	-24.4%	226,1 k €	+56.7%	144,2 k €	+10.1%	131 k €	+0.8%	130 k €	+21.0%	107,5 k €	-14.6%	125,8 k €	+23.6%	101,8 k €	+3.2%	98,6 k €	+38.1%	71,4 k €	-3.8%	74,2 k €
Operating result	168,9 k €	+32.5%	127,4 k €	+27.4%	100 k €	+37.7%	72,6 k €	-7.0%	78,1 k €	+112%	36,8 k €	+92.1%	19,2 k €	-47.6%	36,6 k €	-61.5%	95 k €	-26.8%	129,9 k €	-30.2%	186,1 k €	+75.2%	106,2 k €	+12.9%	94,1 k €	-4.9%	99 k €	+62.6%	60,9 k €	-24.4%	80,5 k €	+28.9%	62,4 k €	+3.4%	60,4 k €	+59.7%	37,8 k €	-20.0%	47,3 k €
Net result	119,7 k €	+31.8%	90,8 k €	+33.6%	67,9 k €	+39.6%	48,7 k €	-6.8%	52,2 k €	+131%	22,6 k €	+128%	9,9 k €	-58.9%	24,1 k €	-63.2%	65,6 k €	-32.1%	96,6 k €	-27.6%	133,4 k €	+101%	66,3 k €	-0.5%	66,6 k €	-1.0%	67,3 k €	+82.2%	36,9 k €	-25.5%	49,6 k €	+39.2%	35,6 k €	+2.1%	34,9 k €	+46.0%	23,9 k €	-24.0%	31,5 k €
Balance sheet
Equity	598,4 k €	+13.2%	528,7 k €	+10.8%	477,3 k €	+7.8%	442,8 k €	+12.4%	394,1 k €	-3.4%	407,9 k €	+5.9%	385,3 k €	+2.6%	375,4 k €	-36.3%	589 k €	+9.9%	536,1 k €	+12.3%	477,6 k €	+24.9%	382,3 k €	+247%	110,1 k €	-64.8%	312,6 k €	+18.2%	264,4 k €	+10.1%	240,2 k €	+18.1%	203,3 k €	+12.7%	180,4 k €	+15.3%	156,4 k €	+9.1%	143,5 k €
Total assets	689,3 k €	+12.0%	615,6 k €	+6.1%	580,2 k €	+5.6%	549,5 k €	+9.8%	500,4 k €	-24.3%	660,8 k €	-1.8%	672,8 k €	+3.2%	651,9 k €	-7.6%	705,5 k €	+7.0%	659,3 k €	+2.2%	644,8 k €	+17.1%	550,5 k €	+1.1%	544,7 k €	+2.2%	532,9 k €	+11.5%	478,1 k €	-4.1%	498,7 k €	+14.9%	434 k €	-1.9%	442,2 k €	+8.4%	407,9 k €	+89.5%	215,3 k €
Cash	485,7 k €	+68.2%	288,7 k €	+4.5%	276,3 k €	-8.7%	302,6 k €	+12.0%	270,1 k €	-37.4%	431,4 k €	+13.1%	381,4 k €	+2.9%	370,5 k €	-5.7%	393,1 k €	+29.5%	303,6 k €	+20.8%	251,3 k €	+70.3%	147,5 k €	+6.4%	138,6 k €	-8.6%	151,7 k €	+21.9%	124,4 k €	+27.3%	97,7 k €	+104%	47,8 k €	+17.6%	40,7 k €	-4.8%	42,7 k €	+17.8%	36,3 k €
Debts	90,9 k €	+4.6%	86,9 k €	-15.5%	102,9 k €	-3.6%	106,7 k €	+0.4%	106,3 k €	-58.0%	252,9 k €	-12.0%	287,5 k €	+4.0%	276,5 k €	+137%	116,5 k €	-5.2%	122,9 k €	-26.3%	166,8 k €	-0.5%	167,8 k €	-61.4%	434,1 k €	+97.5%	219,8 k €	+2.8%	213,7 k €	-17.1%	257,7 k €	+11.8%	230,6 k €	-11.9%	261,7 k €	+4.3%	250,9 k €	+250%	71,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,7 ETP	-30.0%	1,0 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 31/12/2022 · 1 active · 2 ended

Active mandates

SARO AGHAZARIAN

Manager

Active

Ended mandates

SARO AGHAZARIAN SANGBARANI

Manager · since 02 mai 2007 · until 02 mai 2012

Ended

SARO AGHAZARIAN SANGBARANI

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	18/06/2026	11/07/2025	08/07/2024	03/08/2023	22/08/2022	13/08/2021
General meeting	06/06/2026	07/06/2025	01/06/2024	03/06/2023	04/06/2022	05/06/2021
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
Micro model	31/12/2025	06/06/2026	18/06/2026	French	PDF
Micro model	31/12/2024	07/06/2025	11/07/2025	French	PDF
Micro model	31/12/2023	01/06/2024	08/07/2024	French	PDF
Micro model	31/12/2022	03/06/2023	03/08/2023	French	PDF
Micro model	31/12/2021	04/06/2022	22/08/2022	French	PDF
Micro model	31/12/2020	05/06/2021	13/08/2021	French	PDF
Micro model	31/12/2019	08/06/2020	31/08/2020	French	PDF
Micro model	31/12/2018	03/06/2019	12/08/2019	French	PDF
Micro model	31/12/2017	04/06/2018	07/08/2018	French	PDF
Micro model	31/12/2016	06/06/2017	26/06/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	10/08/2016	French	PDF
Abridged model	31/12/2014	06/06/2015	14/08/2015	French	PDF
Abridged model	31/12/2013	07/06/2014	11/08/2014	French	PDF
Abridged model	31/12/2012	01/06/2013	12/08/2013	French	PDF
Abridged model	31/12/2011	02/06/2012	07/08/2012	French	PDF
Abridged model	31/12/2010	04/06/2011	07/06/2011	French	PDF
Abridged model	31/12/2009	05/06/2010	14/07/2010	French	PDF
Abridged model	31/12/2008	06/06/2009	22/06/2009	French	PDF
Abridged model	31/12/2007	07/06/2008	30/06/2008	French	PDF
Abridged model	31/12/2006	01/06/2007	17/07/2007	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 31/12/2022 · 1 active · 2 ended

Active mandates

SARO AGHAZARIAN

Manager

Active

Ended mandates

SARO AGHAZARIAN SANGBARANI

Manager · since 02 mai 2007 · until 02 mai 2012

Ended

SARO AGHAZARIAN SANGBARANI

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/10/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Capital / shares24/04/2018
CAPITAL, ACTIONS
PDF
Mandates31/08/2016
DEMISSIONS, NOMINATIONS
PDF
Capital / shares26/02/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates25/07/2007
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 2025119,7 k €↑
2024
Annual accounts 202490,8 k €↑
2023
Annual accounts 202367,9 k €↑
2022
Annual accounts 202248,7 k €↓
2021
Annual accounts 202152,2 k €↑
2020
Annual accounts 202022,6 k €↑
2019
Annual accounts 20199,9 k €↓
2018
Annual accounts 201824,1 k €↓
2017
Annual accounts 201765,6 k €↓
2016
Annual accounts 201696,6 k €↓
2015
Annual accounts 2015133,4 k €↑
2014
Annual accounts 201466,3 k €↓
2013
Annual accounts 201366,6 k €↓
2012
Annual accounts 201267,3 k €↑
2011
Annual accounts 201136,9 k €↓
2010
Annual accounts 201049,6 k €↑
2009
Annual accounts 200935,6 k €↑
2008
Annual accounts 200834,9 k €↑
2007
Annual accounts 200723,9 k €↓
2006
Annual accounts 200631,5 k €
15/05/2002
IncorporationPrivate limited company

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

APCYP

Overview

What does APCYP do?

Trend over 20 financial years

Indicative valuation

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