Summary
BELCAPIN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €791,259 and a net result of -€127,673. Equity is shrinking by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 2460 sector peers (fiscal year 2025). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-12-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
34 d early
2024
74 d early
2023
2 d early
2022
49 d early
2020
13 d late
2019
27 d late
2018
14 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€791,259▼ 13.9%
2024 · €918,931
Net result
-€127,673
2024 · €65,047
Total assets
€793,703▼ 15.5%
2024 · €939,073
Solvency
99.7%▲ 1.8pp
2024 · 97.9%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Operating result-€81,975▼ 1.4%-€145,043--€95,824▲ 33.9%€126,043-€26,776
Net result-€59,832below the sector's middle half▼ 9.1%-€32,485below the sector's middle half--€55,303below the sector's middle half▼ 70.2%€65,047within the sector's middle half-€127,673below the sector's middle half
Equity€945,172above the sector's middle half▼ 6.0%€912,687above the sector's middle half-€853,884above the sector's middle half▼ 6.4%€918,931above the sector's middle half▲ 7.6%€791,259above the sector's middle half▼ 13.9%
Total assets€1.7mabove the sector's middle half▼ 2.8%€1.4mabove the sector's middle half-€1.3mabove the sector's middle half▼ 7.4%€939,073above the sector's middle half▼ 29.0%€793,703above the sector's middle half▼ 15.5%
Debt€560,761▲ 8.9%€426,191-€468,872▲ 10.0%€20,141▼ 95.7%€2,444▼ 87.9%
Working capital-€85,609▼ 18.3%-€160,675--€256,987▼ 59.9%€791,159€744,009▼ 6.0%
Solvency55.0%within the sector's middle half▼ 1.9pp63.9%within the sector's middle half-64.6%within the sector's middle half▲ 0.7pp97.9%above the sector's middle half▲ 33.3pp99.7%above the sector's middle half▲ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €26,776 after €126,043 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €793,703
Fixed assets
€47,250 ▼ 65.0%
Current assets
€746,453 ▼ 7.2%
Equity and liabilities €793,703
Equity
€791,259 ▼ 13.9%
Debt
€2,444 ▼ 87.9%
Debt's share of the balance-sheet total falls from 2.1% to 0.3%. Equity and debt are lower.
Key figures and ratios
ROE
-16.1%▼
2024 · 7.1%
ROA
-16.1%▼
2024 · 6.9%
Debt ≤ 1 year
€2,444▼
2024 · €13,026
Income taxes
€2,313▼
2024 · €57,482
A ratio outside any meaningful range has been withheld (balance sheet total €793,703, equity €791,259).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3,313 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €90,057 | €119,746 | €85,285 | €3,313 | - | - |
| Other operating charges640/8 | - | €11,026 | €6,498 | €525 | €1,112 | ▲ 112% |
| Gross operating margin9900 | €14,796 | -€14,270 | -€4,040 | €129,881 | -€25,664 | ▼ 120% |
| Operating profit (loss)9901 | -€81,975 | -€145,043 | -€95,824 | €126,043 | -€26,776 | ▼ 121% |
| Financial income75/76B | - | €105,810 | €169 | €5,976 | €8,534 | ▲ 42.8% |
| Recurring financial income75 | - | €189 | €169 | €5,976 | €8,534 | ▲ 42.8% |
| Non-recurring financial income76B | - | €105,620 | - | - | - | - |
| Financial charges65/66B | - | €16,311 | €18,584 | €9,490 | €107,118 | ▲ 1,029% |
| Recurring financial charges65 | €9,883 | €16,311 | €18,584 | €9,490 | €97,551 | ▲ 928% |
| Non-recurring financial charges66B | - | - | - | - | €9,567 | - |
| Profit (loss) for the period before taxes9903 | -€91,858 | -€55,544 | -€114,239 | €122,529 | -€125,360 | ▼ 202% |
| Transfer from deferred taxes780 | - | €123,080 | €89,863 | - | - | - |
| Income taxes67/77 | €2,654 | €100,021 | €30,927 | €57,482 | €2,313 | ▼ 96.0% |
| Profit (loss) for the period9904 | -€59,832 | -€32,485 | -€55,303 | €65,047 | -€127,673 | ▼ 296% |
| Transfer from tax-exempt reserves789 | - | €238,920 | €174,717 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €7,488 | €206,435 | €119,414 | €65,047 | -€127,673 | ▼ 296% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.4m | €1.3m | €939,073 | €793,703 | ▼ 15.5% |
| Fixed assets21/28 | €1.7m | €1.4m | €1.3m | €134,887 | €47,250 | ▼ 65.0% |
| Tangible fixed assets22/27 | €1.7m | €1.4m | €1.3m | €134,887 | €47,250 | ▼ 65.0% |
| Land and buildings22 | - | €1.4m | €1.3m | - | - | - |
| Other tangible fixed assets26 | - | - | - | €50,137 | - | - |
| Assets under construction and advance payments27 | - | - | - | €84,750 | €47,250 | ▼ 44.2% |
| Current assets29/58 | €19,366 | €42,434 | €21,734 | €804,186 | €746,453 | ▼ 7.2% |
| Amounts receivable within one year40/41 | €13,004 | €25,644 | €11,778 | €15,914 | €590,580 | ▲ 3,611% |
| Trade receivables40 | - | €3,509 | €2,239 | €7,339 | €4,235 | ▼ 42.3% |
| Other amounts receivable41 | - | €22,135 | €9,540 | €8,575 | €586,345 | ▲ 6,738% |
| Current investments50/53 | - | - | - | €645,053 | €134,585 | ▼ 79.1% |
| Cash at bank and in hand54/58 | €6,362 | €16,790 | €9,956 | €143,219 | €21,287 | ▼ 85.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.4m | €1.3m | €939,073 | €793,703 | ▼ 15.5% |
| Equity10/15 | €945,172 | €912,687 | €853,884 | €918,931 | €791,259 | ▼ 13.9% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €883,172 | €850,687 | €791,884 | €856,931 | €729,259 | ▼ 14.9% |
| Non-distributable reserves130/1 | - | €12,800 | €12,800 | €12,800 | €12,800 | = |
| Legal reserve130 | - | - | €12,800 | €12,800 | €12,800 | = |
| Reserves not available under the articles1311 | - | €12,800 | - | - | - | - |
| Other1319 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €174,717 | - | - | - | - |
| Distributable reserves133 | - | €663,170 | €779,084 | €844,131 | €716,459 | ▼ 15.1% |
| Provisions and deferred taxes16 | €212,943 | €89,863 | - | - | - | - |
| Deferred taxes168 | - | €89,863 | - | - | - | - |
| Amounts payable17/49 | €560,761 | €426,191 | €468,872 | €20,141 | €2,444 | ▼ 87.9% |
| Amounts payable after more than one year17 | €445,971 | €210,827 | €172,493 | - | - | - |
| Financial debts170/4 | - | €210,827 | €172,493 | - | - | - |
| Amounts payable within one year42/48 | €104,975 | €203,108 | €278,721 | €13,026 | €2,444 | ▼ 81.2% |
| Current portion of amounts payable after more than one year42 | - | €59,763 | €38,334 | - | - | - |
| Financial debts43 | - | €110,000 | €147,500 | - | - | - |
| Credit institutions430/8 | - | €110,000 | €147,500 | - | - | - |
| Trade debts44 | €13,142 | €5,513 | €12,008 | €517 | €2,444 | ▲ 373% |
| Suppliers440/4 | - | €5,513 | €12,008 | €517 | €2,444 | ▲ 373% |
| Taxes, remuneration and social security45 | - | €23,272 | €14,219 | €10,710 | - | - |
| Taxes450/3 | - | €23,272 | €14,219 | €10,710 | - | - |
| Other amounts payable47/48 | - | €4,560 | €66,660 | €1,800 | - | - |
| Accrued charges and deferred income492/3 | - | €12,256 | €17,658 | €7,115 | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€59,832 | -€32,485 | -€55,303 | €65,047 | -€127,673 | ▼ 296% |
| + Depreciation and write-downs630 | €90,057 | €119,746 | €85,285 | €3,313 | - | - |
| Operating cash flow (approximation) | €30,225 | €87,262 | €29,982 | €68,360 | -€127,673 | ▼ 287% |
| Investment in fixed assets (approximation) | - | - | €0 | €1.2m | €87,637 | ▼ 92.5% |
| Change in cash | - | - | -€6,834 | €133,263 | -€121,931 | ▼ 191% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
28-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Weakest financial yearnet -€127,673
Net result drops to -€127,673, the lowest in the series.
30-06
Financial
Liquidity times 5current ratio 305.41
Current ratio from 61.73 to 305.41; short-term debt falls from €13,026 to €2,444.
2024
18-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Back to profitnet €65,047
Net result €65,047 after 5 loss-making years.
30-06
Financial
Liquidity times 792current ratio 61.73
Current ratio from 0.08 to 61.73; short-term debt falls from €278,721 to €13,026.
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
13-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 14 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
02-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 2 days late
2016
26-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 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, Gent · 1 establishment unit since 2000
Ground area
291 m²
Building footprint
187 m²
Volume, LiDAR
4,425 m³
Parcel 44804D2563/00L007, Flanders · tallest building 26.2 m, ±8 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
BELCAPIN
since 20002.042.771.005
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D2563/00L007 | Flanders | 290 m² | 1 · 187 m² | 26.2 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,507 companies in sector 66199 we hold annual accounts for 923. 560 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-03-1989
Fiscal year end30-06
Activities, NACEBEL 2025
66199Other activities auxiliary to financial services, excluding insurance and pension funding
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437042408
Also
9925:BE0437042408
Registered
31-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.