C@PLAN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 49 filings
Turnover
≈ €250,000
Estimated: probably between €160,000 and €480,000
Total assets
€694,718▼ 53.7%
2024 · €1.5m
Net result
-€153,712
2024 · €81,023
Working capital
€331,690▼ 71.5%
2024 · €1.2m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€70,193
▼ 27.5%
2025
20182025
Net result
-€153,712
2025
20182025
Equity
€648,614
▼ 56.2%
2025
20182025
Total assets
€694,718
▼ 53.7%
2025
20182025
Debt
€46,105
▲ 135%
2025
20182025
Working capital
€331,690
▼ 71.5%
2025
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.1m-€0.04m▼ 65.7%€0.02m▼ 64.6%€0.09m▲ 459%€0.09m=€0.1m▲ 18.6%€0.1m▼ 6.9%€0.07m▼ 27.5%
Net result€0.07m-€0.04m▼ 41.9%€0.01m▼ 61.6%€0.05m▲ 250%€0.06m▲ 25.4%€0.08m▲ 18.8%€0.08m▲ 6.8%-€0.2m
Equity€1.2m-€1.2m▲ 3.2%€1.3m▲ 1.2%€1.3m▲ 0.5%€1.3m▲ 5.1%€1.4m▲ 5.7%€1.5m▲ 5.8%€0.6m▼ 56.2%
Total assets€1.4m-€1.2m▼ 13.0%€1.3m▲ 1.5%€1.3m▲ 4.5%€1.3m▲ 1.1%€1.4m▲ 7.6%€1.5m▲ 4.7%€0.7m▼ 53.7%
Debt€0.2m-€0.002m▼ 98.9%€0.006m▲ 184%€0.06m▲ 831%€0.008m▼ 85.3%€0.03m▲ 302%€0.02m▼ 41.7%€0.05m▲ 135%
Working capital€0.9m-€0.9m▲ 0.5%€0.9m▲ 2.0%€0.9m▲ 1.0%€1.0m▲ 6.8%€1.1m▲ 7.5%€1.2m▲ 7.5%€0.3m▼ 71.5%
Staff (FTE)18.5-
The operating result for 2025 is 28% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €694,718
Fixed assets
€316,924 =
Current assets
€377,794 ▼ 68.1%
Equity and liabilities €694,718
Equity
€648,614 ▼ 56.2%
Debt
€46,105 ▲ 135%
Debt's share of the balance-sheet total rises from 1.3% to 6.6%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
8.19▼
2024 · 63.09
Debt to equity
0.07▲
2024 · 0.01
ROE
-23.7%▼
2024 · 5.5%
ROA
-22.1%▼
2024 · 5.4%
Debt ≤ 1 year
€46,105▲
2024 · €18,757
Income taxes
€0▼
2024 · €37,811
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €3,478 | €334 | €0 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.003m | €0.003m | €0.003m | €334 | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €0.02m | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 10.3% |
| Gross operating margin9900 | €1.2m | €0.03m | €0.04m | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 24.2% |
| Operating profit (loss)9901 | €0.1m | €0.04m | €0.02m | €0.09m | €0.09m | €0.1m | €0.1m | €0.07m | ▼ 27.5% |
| Financial income75/76B | - | - | - | €0.007m | €0.006m | €0.008m | €0.02m | €0.005m | ▼ 75.4% |
| Recurring financial income75 | €477 | €0.008m | €0.006m | €0.007m | €0.006m | €0.008m | €0.02m | €0.005m | ▼ 75.4% |
| Financial charges65/66B | - | - | - | €338 | €382 | €460 | €327 | €0.2m | ▲ 701× |
| Recurring financial charges65 | €0.04m | €0.001m | €0.001m | €338 | €382 | €460 | €327 | €0.2m | ▲ 701× |
| Profit (loss) for the period before taxes9903 | €0.09m | €0.05m | €0.02m | €0.09m | €0.09m | €0.1m | €0.1m | -€0.2m | - |
| Income taxes67/77 | €0.02m | €0.02m | €0.007m | €0.04m | €0.03m | €0.04m | €0.04m | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €0.07m | €0.04m | €0.01m | €0.05m | €0.06m | €0.08m | €0.08m | -€0.2m | - |
| Transfer from tax-exempt reserves789 | - | - | - | €0.06m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €0.04m | €0.01m | €0.1m | €0.06m | €0.08m | €0.08m | -€0.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.2m | €1.3m | €1.3m | €1.3m | €1.4m | €1.5m | €0.7m | ▼ 53.7% |
| Fixed assets21/28 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Financial fixed assets28 | €135 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €1.1m | €0.9m | €0.9m | €1.0m | €1.0m | €1.1m | €1.2m | €0.4m | ▼ 68.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.5m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 33.3% |
| Other amounts receivable291 | - | - | - | €0.5m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 33.3% |
| Stocks and contracts in progress3 | €0.2m | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.4m | €0.1m | €0.01m | €0.009m | €0.004m | €0.09m | €0.2m | €0.08m | ▼ 58.3% |
| Trade receivables40 | - | - | - | €0.009m | €0.004m | €0.002m | €0 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €0.09m | €0.2m | €0.08m | ▼ 58.3% |
| Current investments50/53 | - | - | - | - | - | €0.4m | €0.2m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.3m | €0.5m | €0.1m | ▼ 75.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.02m | €0.04m | €0.04m | €0.009m | ▼ 78.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.2m | €1.3m | €1.3m | €1.3m | €1.4m | €1.5m | €0.7m | ▼ 53.7% |
| Equity10/15 | €1.2m | €1.2m | €1.3m | €1.3m | €1.3m | €1.4m | €1.5m | €0.6m | ▼ 56.2% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.1m | €1.2m | €1.2m | €1.2m | €1.3m | €1.3m | €1.4m | €0.6m | ▼ 58.6% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €221 | €221 | €221 | €221 | €221 | = |
| Distributable reserves133 | - | - | - | €1.2m | €1.3m | €1.3m | €1.4m | €0.6m | ▼ 58.9% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | €0.02m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.2m | €0.002m | €0.006m | €0.06m | €0.008m | €0.03m | €0.02m | €0.05m | ▲ 135% |
| Amounts payable within one year42/48 | €0.2m | €0.002m | €0.006m | €0.06m | €0.008m | €0.03m | €0.02m | €0.05m | ▲ 146% |
| Trade debts44 | €0.05m | €0.002m | - | €0.002m | - | €0.002m | €0.005m | €0.03m | ▲ 531% |
| Suppliers440/4 | - | - | - | €0.002m | - | €0.002m | €0.005m | €0.03m | ▲ 531% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.005m | €0.02m | €0.003m | €0.003m | = |
| Taxes450/3 | - | - | - | €0.007m | €0.005m | €0.02m | €0.003m | €0.003m | = |
| Other amounts payable47/48 | - | - | - | €0.05m | €0.003m | €0.02m | €0.01m | €0.01m | ▲ 1.9% |
| Accrued charges and deferred income492/3 | - | - | - | €138 | €140 | €199 | €0.001m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €65,206 | €37,856 | €14,533 | €50,916 | €63,872 | €75,857 | €81,023 | -€153,712 | - |
| + Depreciation and write-downs630 | €12,450 | €3,478 | €3,478 | €3,478 | €334 | €0 | - | - | - |
| Operating cash flow (approximation) | €77,656 | €41,334 | €18,011 | €54,394 | €64,206 | €75,857 | €81,023 | -€153,712 | - |
| Investment in fixed assets (approximation) | - | €3,255 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€57,134 | €85,851 | €88,342 | €2,191 | -€269,186 | €193,303 | -€352,135 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 929 companies had the same profile as C@PLAN has now. Two years later, 90.1% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
90.1%
was still going
8.8%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of C@PLAN itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 929 companies, not a prediction for C@PLAN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00325481 | |
| 31-12-2024 | micro format | 27-05-2025 | 2025-00113094 | |
| 31-12-2023 | micro format | 19-07-2024 | 2024-00261973 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00203148 | |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20117507 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-58200469 | |
| 31-12-2019 | micro format | 24-07-2020 | 2020-34500212 | |
| 31-12-2018 | abbreviated format | 31-07-2019 | 2019-40500463 | |
| 31-12-2017 | abbreviated format | 26-06-2018 | 2018-22300022 | |
| 31-12-2016 | abbreviated format | 20-06-2017 | 2017-18400236 |