CAP
ActiveSummary
CAP has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €181,999 and a net result of €73,528. Equity is growing by about 19% per year across the filed financial years. Its solvency ranks better than 43% of 17,107 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Staff
- ≈ 0.2 FTE, estimated
- Equity
- €181,999
- Profit
- €73,528
- Caroline POLLETDirector
- Louis-Philippe JULIENDirector
- Philippe JULIENDirector
Why 95raises riskLiquidity: current ratio 0.17, cash €5,761, halvedlowers riskSize: total assets €869,387Founded in 1991Figures for financial year 2025 (filed 13-07-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 41% on solvency, 24% on liquidity, 76% on profitability and 88% on growth.
The bankruptcy probability was computed on 30-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 16 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Equity above €150,000equity €181,999 ▲67.8%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 117% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 2,613 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 97.3% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,613 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €56,473 | €20,000 | €0 | €16,262 | - |
| Remuneration, social security and pensions62 | - | - | - | €108,185 | €148,359 | €13,141 | €7,074 | €7,035 | ▼ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €189,831 | €235,444 | €228,478 | €233,993 | €218,002 | €218,729 | €207,375 | €207,492 | ▲ 0.1% |
| Other operating charges640/8 | - | - | - | €79,575 | €29,387 | €20,363 | €19,559 | €18,740 | ▼ 4.2% |
| Non-recurring operating charges66A | - | - | - | €810 | €0 | €12,293 | €0 | - | - |
| Gross operating margin9900 | €468,529 | €411,869 | €448,461 | €622,648 | €759,171 | €253,170 | €299,483 | €375,133 | ▲ 25.3% |
| Operating profit (loss)9901 | €100,254 | €26,275 | €139,202 | €200,085 | €363,423 | -€11,357 | €65,474 | €141,866 | ▲ 117% |
| Financial income75/76B | - | - | - | €9,404 | €1,459 | €1,733 | €1,992 | €1,930 | ▼ 3.1% |
| Recurring financial income75 | €1,257 | €2,418 | €3,872 | €9,404 | €1,459 | €1,733 | €1,992 | €1,930 | ▼ 3.1% |
| Financial charges65/66B | - | - | - | €40,791 | €34,166 | €29,180 | €29,417 | €22,135 | ▼ 24.8% |
| Recurring financial charges65 | €45,563 | €46,893 | €41,135 | €40,791 | €34,166 | €29,180 | €29,417 | €22,135 | ▼ 24.8% |
| Profit (loss) for the period before taxes9903 | €55,948 | -€18,201 | €101,939 | €168,698 | €330,716 | -€38,804 | €38,048 | €121,661 | ▲ 220% |
| Income taxes67/77 | €45,446 | €2,521 | €16,710 | €54,409 | €93,036 | €7,879 | €22,294 | €48,133 | ▲ 116% |
| Profit (loss) for the period9904 | €10,502 | -€20,722 | €85,229 | €114,290 | €237,681 | -€46,683 | €15,754 | €73,528 | ▲ 367% |
| Profit (loss) for the period to be appropriated9905 | €10,502 | -€20,722 | €85,229 | €114,290 | €237,681 | -€46,683 | €15,754 | €73,528 | ▲ 367% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.5m | €1.9m | €1.7m | €1.7m | €1.6m | €1.3m | €1.1m | €0.9m | ▼ 20.9% |
| Fixed assets21/28 | €1.3m | €1.5m | €1.6m | €1.3m | €1.3m | €1.2m | €1.0m | €0.8m | ▼ 18.7% |
| Intangible fixed assets21 | €0.006m | €0.03m | €0.05m | €0.05m | €0.09m | €0.06m | €0.04m | €0.02m | ▼ 47.7% |
| Tangible fixed assets22/27 | €1.3m | €1.5m | €1.5m | €1.3m | €1.2m | €1.1m | €0.9m | €0.8m | ▼ 17.4% |
| Land and buildings22 | - | - | - | €1.2m | €1.2m | €1.0m | €0.9m | €0.7m | ▼ 17.4% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.008m | €0.004m | €0.005m | €0.003m | ▼ 46.3% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.01m | €0.06m | €0.04m | €0.04m | ▼ 18.3% |
| Other tangible fixed assets26 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | ▲ 24.0% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | €0.2m | €0.1m | €0.06m | ▼ 41.2% |
| Amounts receivable within one year40/41 | €0.2m | €0.1m | €0.1m | €0.09m | €0.07m | €0.1m | €0.08m | €0.05m | ▼ 39.4% |
| Trade receivables40 | - | - | - | €0.06m | €0.04m | €0.1m | €0.05m | €0.009m | ▼ 81.8% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 24.7% |
| Cash at bank and in hand54/58 | €0.04m | €0.2m | €0.06m | €0.2m | €0.2m | €0.03m | €0.02m | €0.006m | ▼ 72.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.002m | €0.002m | €0.002m | €0.006m | ▲ 204% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.5m | €1.9m | €1.7m | €1.7m | €1.6m | €1.3m | €1.1m | €0.9m | ▼ 20.9% |
| Equity10/15 | €0.05m | €0.03m | €0.1m | €0.2m | €0.2m | €0.09m | €0.1m | €0.2m | ▲ 67.8% |
| Contributions10/11 | €0.3m | €0.3m | - | €0.3m | €0.005m | €0.004m | €0.004m | €0.004m | = |
| Reserves13 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.05m | €0.05m | €0.1m | ▲ 148% |
| Tax-exempt reserves132 | - | - | - | €0.06m | €0.06m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €0.07m | - |
| Profit (loss) carried forward14 | -€0.3m | -€0.3m | -€0.2m | -€0.1m | €0.1m | €0.04m | €0.05m | €0.05m | = |
| Amounts payable17/49 | €1.5m | €1.8m | €1.6m | €1.5m | €1.4m | €1.3m | €1.0m | €0.7m | ▼ 30.6% |
| Amounts payable after more than one year17 | €0.9m | €1.0m | €0.9m | €0.8m | €0.6m | €0.6m | €0.4m | €0.3m | ▼ 27.8% |
| Financial debts170/4 | - | - | - | €0.8m | €0.6m | €0.6m | €0.4m | €0.3m | ▼ 27.8% |
| Amounts payable within one year42/48 | €0.6m | €0.8m | €0.7m | €0.7m | €0.8m | €0.7m | €0.5m | €0.4m | ▼ 32.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 36.5% |
| Financial debts43 | - | - | - | €0 | - | - | - | €0.01m | - |
| Credit institutions430/8 | - | - | - | €0 | - | - | - | €0.01m | - |
| Trade debts44 | €0.03m | €0.03m | €0.008m | €0.02m | €0.02m | €0.09m | €0.01m | €0.008m | ▼ 44.1% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.09m | €0.01m | €0.008m | ▼ 44.1% |
| Advances received on contracts in progress46 | - | - | - | €0.4m | €0.3m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.03m | €0.08m | €0.07m | €0.03m | ▼ 52.9% |
| Taxes450/3 | - | - | - | €0.1m | €0.02m | €0.08m | €0.07m | €0.03m | ▼ 52.9% |
| Remuneration and social security454/9 | - | - | - | €0 | €0.01m | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.007m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 28.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.001m | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,502 | -€20,722 | €85,229 | €114,290 | €237,681 | -€46,683 | €15,754 | €73,528 | ▲ 367% |
| + Depreciation and write-downs630 | €189,831 | €235,444 | €228,478 | €233,993 | €218,002 | €218,729 | €207,375 | €207,492 | ▲ 0.1% |
| Operating cash flow (approximation) | €200,333 | €214,722 | €313,708 | €348,283 | €455,682 | €172,046 | €223,129 | €281,020 | ▲ 25.9% |
| Investment in fixed assets (approximation) | - | -€411,446 | -€274,642 | -€23,984 | -€147,344 | -€117,904 | -€28,271 | -€22,227 | ▲ 21.4% |
| Change in cash | - | €206,395 | -€184,017 | €174,197 | €8,185 | -€210,850 | -€11,115 | -€14,832 | ▼ 33.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00286113 |
| 31-12-2024 | micro format | 22-07-2025 | 2025-00294691 |
| 31-12-2023 | abbreviated format | 04-07-2024 | 2024-00209166 |
| 31-12-2022 | abbreviated format | 15-06-2023 | 2023-00128568 |
| 31-12-2021 | abbreviated format | 19-07-2022 | 2022-20199258 |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-44700388 |
| 31-12-2019 | abbreviated format | 30-07-2020 | 2020-36400476 |
| 31-12-2018 | abbreviated format | 03-07-2019 | 2019-28400333 |
| 31-12-2017 | abbreviated format | 30-07-2018 | 2018-40800322 |
| 31-12-2016 | abbreviated format | 15-06-2017 | 2017-17800046 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €5,183 awarded · €5,183 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €0 | €3,255 |
| 2023 | 1 | €5,183 | €1,928 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Caroline POLLET |
|
| Louis-Philippe JULIEN |
|
| Philippe JULIEN |
|
Owners and capital
Capital and shareholders
- 31-05-2023 Capital stated in the deed · €5,000 · 2,500 shares
- 02-12-2022 Converted to unavailable equity · €298,550
- 02-12-2022 Capital reduction of €293,550 · to €5,000 · repaid to the shareholders
Group and network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
Acquisitions and mergers
1 transactionHistory
Acts, filings and financial milestones
20-07
Gazette deed
RestructuringDeclaration · Demerger · Auditor report10 facts ▸
- General meeting, 28-06-2023
- Other provision, “goedkeuring splitsingsvoorstel, goedkeuring in al zijn geledingen” (deed in Dutch)
- Declaration, “geen belangrijke wijziging activa en passiva sinds opstellen splitsingsvoorstel, voorzitter namens de bestuurders” (deed in Dutch)
- Demerger, “partiële splitsing door oprichting, onmiddellijk en rechtstreeks aan aandeelhouders te splitsen vennootschap” (deed in Dutch)
- Auditor report, “exemplaar neergelegd op bevoegde griffie ondernemingsrechtbank samen met uitgifte oprichtingsakte, goedgekeurd” (deed in Dutch)
- Founding capital, €603.23
- Other provision, “goedkeuring ontwerp oprichtingsakte en statuten, CAP Holiday Rentals” (deed in Dutch)
- Power of attorney, JULIEN Philippe
- Power of attorney
- Other provision, “vaststelling verwezenlijking splitsing onder opschortende voorwaarde, effectieve oprichting besloten vennootschap CAP Holiday Rentals te verlijden onmiddellijk…” (deed in Dutch)
31-05
Gazette deed
RestructuringBoard composition · Demerger · Capital15 facts ▸
- Board meeting, “De bestuurders van de besloten vennootschap CAP” (deed in Dutch)
- Board composition, Philippe Julien (director)
- Board composition, Caroline Pollet (director)
- Board composition, Louis-Philippe Julien (director)
- Demerger, “partiële splitsing door oprichting van een nieuwe vennootschap, verdeling aandelen op te richten vennootschap” (deed in Dutch)
- Capital, €5,000
- Founding capital, €603.23
- Other provision, “ruilverhouding van de aandelen en bedrag van de opleg, specificiteit van de partiële splitsing” (deed in Dutch)
- Other provision, “wijze waarop de aandelen in de op te richten vennootschap CAP Holiday Rentals worden uitgereikt”, 5000 (deed in Dutch)
- Other provision, “datum vanaf wanneer de aandelen recht geven om te delen in de winst, onmiddellijk” (deed in Dutch)
- Accounting effect, 01-01-2023
- Other provision, “rechten voor aandeelhouders met bijzondere rechten en houders van andere effecten dan aandelen, andere dan deze voorzien in de statuten” (deed in Dutch)
- +3 further facts in this act
02-12
Gazette deed
Resignations: Philippe JULIEN, Caroline POLLET and Louis-Philippe JULIENReappointments: Philippe JULIEN, Caroline POLLET and Louis-Philippe JULIEN · Amendment of the articles · Capital conversion16 facts ▸
- Other provision, “9850 Deinze(Merendree),Valkenstraat 2, registerinschrijving en zetel volgens akte” (deed in Dutch)
- General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “beschikbaar voor uitkering” (deed in Dutch)
- Capital decrease, €293,550
- Share issue, 2500, “Ieder aandeel geeft een gelijk recht in de winstverdeling en in het vereffeningsaldo” (deed in Dutch)
- Director resignation, Philippe JULIEN (manager)
- Director reappointment, Philippe JULIEN (director (not named in the articles))
- Director resignation, Caroline POLLET (manager)
- Director reappointment, Caroline POLLET (director (not named in the articles))
- Director resignation, Louis-Philippe JULIEN (manager)
- +4 further facts in this act
Show earlier events
About the unread acts
Of the 11 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44044B0990/00F000 | Flanders | 7,582 m² | 1 · 140 m² | 9.5 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Onderneming onroerende goedererı; Import en export van allerhande goederen; Studie, organisatie-, raadgevend bureau inzake financieel…” (deed in Dutch)deed of 31-05-2023
8 activities (deed in Dutch)
- Onderneming onroerende goedererı
- Import en export van allerhande goederen
- Studie, organisatie-, raadgevend bureau inzake financieel, handels-, fiscaal-, en sociale aangelegenheden
- Dactylografisch en vertaalbureau
- Tussenpersoon in de handel
- Het verrichten van expertises en schattingerı van alle aard, zowel nopens onroerende als roerende goederen, het verstrekken van adviezen, het verrichten van arbitrages, het doen van vaststellingen, dit alles hetzij tegensprekelijk, hetzij éérizijdig; evenals alle verrichtingen die ze kunnen voorbereiden of die er kunnen uit voortvloeien en alle werken behorende tot het beroep van landmeter, van architect, van expert van onroerende goederen, agentschap in onroerende goederen, studie en coördinatie van heropbouw en bouwpromotor
- Alle verrichtingen van horeca-activiteiten en dit in de ruimste zin van het woord
- Al deze verrichtingen kunnen zowel gedaan worden op irndustrieel vlak op het gebied van roerende en onroerende goederen, het verichten van schattingen en het verdedigen en het regelen naar aanleiding van rampen van alle aard, het optreden als raadgever, voor haar rekening en voor rekening van derden
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimiteddeed of 02-12-2022
- Name clauseThe name the company operates under according to its articles.
- CAPdeed of 02-12-2022
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bij enkel besluit van bestuursorgaan administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren vestigen…” (deed in Dutch)deed of 02-12-2022
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, 1” (deed in Dutch)“In naam en voor rekening van de rechtspersoon, zelfde regels van openbaarmaking alsof in eigen naam en voor eigen rekening” (deed in Dutch)“Overblijvende bestuurder(s)” (deed in Dutch)2 more provisions on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 15 May at 14:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Algemene vergadering, ontbinding op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Ontbinding en vereffening in één akte, bestuurder(s) in functie als vereffenaar(s) krachtens statuten” (deed in Dutch)