Capco Belgium

Active

Private limited companyfounded 200818 yrs activeLeonardo da Vincilaan 19A, 1831 Machelen (Brab.), BelgiumKBO/BCE: BE 0899.013.618

Capco Belgium has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.27M and a net result of €-345k. Equity is growing by ~117.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).

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Checked score

Score 2025

62 / 100

Healthy▼ -16 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-11

Solvency100=

Growth52▼-26

Stability100

Bankruptcy probability, 12 months

1.1% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €80k at 30 days acceptable

Liquidity ample (current ratio 4.63 against 42.97 in 2024), and 21.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

78.4%

Return on assets

-21.3%

Age of the figures

18 mo

Latest accounts filed on time

The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 20-10-2025, 11 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

11 d early

2024

70 d early

2023

5 d early

2022

25 d early

2020

108 d late

2019

63 d late

2018

89 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.

Companies Code · seven months

Position in the running window

31-03-2026 close15-09-2026 today31-10-2026 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-345k

2024 · €35k

2018: €-8k 2019: €-17k 2020: €-16k 2022: €26.02M 2023: €542k 2024: €35k

2018 → 2025

Working capital

€1.27M▼ 21.4%

2024 · €1.61M

2018: €4k 2019: €29k 2020: €13k 2022: €26.03M 2023: €1.58M 2024: €1.61M

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202022202320242025Trend

Equity€17k-€26.04M▲ 153,143%€1.58M▼ 93.9%€1.61M▲ 2.2%€1.27M▼ 21.3%

Operating result€-10k-€-13k▼ 30.2%€-10k▲ 21.9%€4k€-122k

Net result€-16k-€26.02M€542k▼ 97.9%€35k▼ 93.5%€-345k

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2025: a loss of €122k after €4k in 2024, the lowest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.62M

99.9%

Fixed assets €2k=

Current assets €1.62M▼ 2.1%

Equity and liabilities €1.62M

78.4%

21.6%

Equity €1.27M▼ 21.3%

Debt €349k▲ 808%

The debt ratio rises from 2.3% to 21.6%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

Solvency

78.4%▼

2024 · 97.7%

Current ratio

4.63▼

2024 · 42.97

Quick ratio

4.63▼

2024 · 42.97

Debt / equity

0.27▲

2024 · 0.02

ROE

-27.1%▼

2024 · 2.2%

ROA

-21.3%▼

2024 · 2.1%

Debt

€349k▲

2024 · €38k

Debt ≤ 1 year

€349k▲

2024 · €38k

Income taxes

€274k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€1.65M€1.62M▼

Fixed assets21/28€2k€2k=

Financial fixed assets28€2k€2k=

Current assets29/58€1.65M€1.62M▼

Amounts receivable within one year40/41€1.65M€1.62M▼

Other amounts receivable41€1.65M€1.62M▼

Equity and liabilities

Total equity and liabilities10/49€1.65M€1.62M▼

Equity10/15€1.61M€1.27M▼

Contributions10/11€50k€50k=

Profit (loss) carried forward14€1.56M€1.22M▼

Amounts payable17/49€38k€349k▲

Amounts payable within one year42/48€38k€349k▲

Trade debts44€38k€73k▲

Suppliers440/4€38k€73k▲

Taxes, remuneration and social security45-€274k

Taxes450/3-€274k

Other amounts payable47/48€371€2k▲

Income statement Code20242025

Other operating charges640/8-€975

Gross operating margin9900€4k€-121k▼

Operating profit (loss)9901€4k€-122k▼

Financial income75/76B€34k€55k▲

Recurring financial income75€34k€55k▲

Financial charges65/66B€3k€3k▲

Recurring financial charges65€3k€3k▲

Profit (loss) for the period before taxes9903€35k€-71k▼

Income taxes67/77-€274k

Profit (loss) for the period9904€35k€-345k▼

Profit (loss) for the period to be appropriated9905€35k€-345k▼

Appropriation of the result

Profit (loss) to be appropriated9906€1.56M€1.22M▼

Profit (loss) brought forward from the previous period14P€1.53M€1.56M▲

The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 33Financial 4Gazette 19Filings 10

Next filing, fiscal year 2026, expected by 31-10-2026

2026

09-03

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment6 facts ▸

General meeting, 2026-01-21
Director resignation, Sarat Chand (bestuurder)
Director appointment, Divye Goel (bestuurder)
Mandate compensation, Divye Goel
Board composition, bestuurder, 2026-01-21
Board composition, bestuurder, 2026-01-21

2025

20-10

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

31-03

Financial Weakest financial yearnet €-345k ▼1078%

Net result drops to €-345k, the lowest in the series.

24-03

State Gazette act Resignations & appointments

General meeting · Director appointment · Mandate compensation6 facts ▸

General meeting, 2025-02-11
Director appointment, Marcel Du Bois (bestuurder)
Mandate compensation, Marcel Du Bois
Board composition, bestuurder, 2025-02-01
Board composition, bestuurder, 2025-02-01
Board composition, gezamenlijk, artikel 11, §1, tweede zin van de statuten

2024

22-08

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

14-08

State Gazette act Registered office

Board meeting · Registered-office move2 facts ▸

Board meeting, 2024-07-18
Registered-office move, Leonardo Da Vincilaan 19A, 1831 Diegem, Belglë

02-08

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2024-06-19
Auditor reappointment, commissaris, 3 years

05-04

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment5 facts ▸

General meeting, 2024-02-13
Director resignation, Barath Narayanan SS (bestuurder)
Director appointment, Sarat Chand (bestuurder)
Mandate compensation, Sarat Chand
Board composition, bestuurder, 2023-12-01

2023

28-11

State Gazette act Resignations & appointments

General meeting · Director resignation · Board composition3 facts ▸

General meeting, 2023-10-20
Director resignation, Sukanta Kundu (bestuurder)
Board composition, bestuurder, 2023-09-30

26-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

31-03

Financial Liquidity times 119current ratio 230.42

Current ratio from 1.93 to 230.42; short-term debt falls from €27.97M to €7k.

2022

06-10

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

22-07

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment9 facts ▸

General meeting, 2022-06-16
Director resignation, Marcel Du Bois (bestuurder)
Director resignation, Gavin James (bestuurder)
Director appointment, Barath Subba Sokkapa Narayanan (bestuurder)
Director appointment, Sukanta Kundu (bestuurder)
Mandate compensation, Barath Subba Sokkapa Narayanan
Mandate compensation, Sukanta Kundu
Board composition, bestuurder, 2022-06-16
Board composition, bestuurder, 2022-06-16

31-03

Financial Back to profitnet €26.02M

Net result €26.02M after 3 loss-making years.

31-03

Financial Equity above €25MEq €26.04M ▲153143%

Equity rises from €17k to €26.04M.

2021

16-11

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 108 days late

29-10

State Gazette act Statutes amendment · Legal-form change

General meeting · Statutes amendment · Corporate purpose8 facts ▸

General meeting, 2021-09-29
Statutes amendment
Statutes amendment
Statutes amendment
Statutes amendment
Corporate purpose, het ontwikkelen en adviseren van informatica en softwareprojecten in alle industriële, commerciële en dienstensectoren, het verschaffen, zowel aan individuele p…
Capital
Statutes amendment

24-02

State Gazette act Resignations & appointments

General meeting · Auditor appointment · Power of attorney3 facts ▸

General meeting, 2020-09-30
Auditor appointment, KPMG Bedrijfsrevisoren CVBA (commissaris)
Power of attorney, Jeroen Trumpener

2020

02-10

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 63 days late

17-02

State Gazette act Capital & shares · Statutes amendment

General meeting · Capital increase · Bank account7 facts ▸

General meeting, 2019-12-31
Capital increase, €42.000
Bank account, BE48 9490 0797 0827
Capital decrease, €42.000
Director resignation, DEPAUW Elisabeth (zaakvoerder)
Director appointment, GAVIN Keith James (zaakvoerder)
Mandate compensation, GAVIN Keith James

2019

28-10

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 89 days late

2018

13-12

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment6 facts ▸

General meeting, 2018-11-26
Director resignation, Lance Levy (zaakvoerder)
Director resignation, Darren Fox-Kirkham (zaakvoerder)
Director appointment, Elisabeth Depauw (zaakvoerder)
Director appointment, Marcel Du Bois (zaakvoerder)
Power of attorney, Four & Five

23-09

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 54 days late

2017

11-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

04-05

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment3 facts ▸

General meeting, 2017-03-01
Director resignation, Christopher Clouse (zaakvoerder)
Director appointment, Darren Fox-Kirkham (zaakvoerder)

2016

28-12

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 150 days late

29-04

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment4 facts ▸

General meeting, 2015-10-01
Director resignation, Paul Luc Robert (Rob) Heyvaert (zaakvoerder)
Director appointment, Lance Levy (zaakvoerder)
Auditor appointment, KPMG Bedrijfsrevisoren CVBA

2015

19-05

State Gazette act Registered office · Resignations & appointments

Board meeting · Registered-office move · Power of attorney4 facts ▸

Board meeting, 2015-02-17
Registered-office move, 1831 Diegem, De Kleetlaan 6A
Power of attorney, Anneleen Vander Elstraeten
Power of attorney, Goedele Van de Plas

18-05

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2014-08-14
Auditor reappointment, 3 years, general meeting approving accounts of 31/12/2016

2013

18-04

State Gazette act Resignations & appointments

General meeting · Director appointment · Power of attorney3 facts ▸

General meeting, 2013-03-22
Director appointment, Christopher Clouse (zaakvoerder)
Power of attorney, Frank Hellemans

30-01

State Gazette act Resignations & appointments

General meeting · Auditor reappointment2 facts ▸

General meeting, 2012-05-07
Auditor reappointment, 3 years, na de gewone algemene vergadering die zich uitspreekt over de jaarrekening met betrekking tot het boekjaar 2013

2012

18-10

State Gazette act Capital & shares · Statutes amendment

Capital decrease · Share cancellation · Capital increase4 facts ▸

Capital decrease, €-18.600
Share cancellation, all existing shares
Capital increase, €50.000
Statutes amendment

2008

07-07

State Gazette act Incorporation

Incorporation · Founding capital · First fiscal year6 facts ▸

Incorporation, 2008-07-01
Founding capital, €18.600
First fiscal year, 2008-07-01/2008-12-31
Director appointment, Paul Luc Robert Heyvaert (zaakvoerder)
Corporate purpose, De vennootschap heeft tot doel, in België en in het buitenland, in eigen naam of in naam van derden, voor eigen rekening of voor rekening van derden : •het ontw…
Founder, THE CAPITAL MARKETS COMPANY

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

14 directors, no change since 2026

Divye Goel

Director · since 21-01-2026

Current

Marcel Du Bois

Director · since 01-02-2025

Current

Barath Subba Sokkapa Narayanan

Director · since 16-06-2022

Current

GAVIN Keith James

Manager · since 31-12-2019

Not recently confirmed

Paul Luc Robert Heyvaert

Manager · since 01-07-2008

Not recently confirmed

21-01-2026 Divye Goel: Appointed as Director

21-01-2026 Sarat Chand: Resigned as Director

01-02-2025 Marcel Du Bois: Appointed as Director

01-12-2023 Sarat Chand: Appointed as Director

01-12-2023 Barath Narayanan SS: Resigned as Director

30-09-2023 Sukanta Kundu: Resigned as Director

16-06-2022 Marcel Du Bois: Resigned as Director

16-06-2022 Barath Subba Sokkapa Narayanan: Appointed as Director

16-06-2022 Sukanta Kundu: Appointed as Director

16-06-2022 Gavin James: Resigned as Director

31-12-2019 GAVIN Keith James: Appointed as Manager

31-12-2019 Elisabeth Depauw: Resigned as Manager

26-11-2018 Marcel Du Bois: Appointed as Manager

26-11-2018 Elisabeth Depauw: Appointed as Manager

26-11-2018 Darren Fox-Kirkham: Resigned as Manager

26-11-2018 Lance Levy: Resigned as Manager

01-03-2017 Darren Fox-Kirkham: Appointed as Manager

01-03-2017 Christopher Clouse: Resigned as Manager

01-10-2015 Lance Levy: Appointed as Manager

01-10-2015 Paul Luc Robert (Rob) Heyvaert: Resigned as Manager

22-03-2013 Christopher Clouse: Appointed as Manager

01-07-2008 Paul Luc Robert Heyvaert: Appointed as Manager

Location & real-estate footprint

Registered office, Machelen (Brab.) · 1 establishment unit since 2008

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Leonardo da Vincilaan 19A1831 Machelen (Brab.)

Ground area

2.3 ha

Building footprint

7,713 m²

Volume, LiDAR

124,004 m³

Parcel 23015B0291/00C006, Flanders · tallest building 39.4 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

CAPCO Belgium

Leonardo da Vincilaan 19A, 1831 Machelen (Brab.)Holdings

since 20082.171.849.103

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23015B0291/00C006	Flanders	2.3 ha	1 · 7,713 m²	39.4 m · 4 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Statutory auditor

5 auditors

KPMG Bedrijfsrevisoren BVCurrent

Statutory auditor

24-10-2023 → present

Show 4 earlier auditors

CALLENS, PIRENNE & CO, BEDRIJFSREVISOREN Auditor succeeded by Callens, Pirenne, Theunissen & Co Bedrijfsrevisoren B.V.C.V. in 2014	07-05-2012 → 14-08-2014
Callens, Pirenne, Theunissen & Co Bedrijfsrevisoren B.V.C.V. Auditor succeeded by KPMG Réviseurs d'Entreprises in 2015	14-08-2014 → 01-10-2015
KPMG Bedrijfsrevisoren CVBA Statutory auditor succeeded by KPMG Bedrijfsrevisoren BV in 2023	30-09-2020 → 24-10-2023
KPMG Réviseurs d'Entreprises Auditor succeeded by KPMG Bedrijfsrevisoren CVBA in 2020	01-10-2015 → 30-09-2020

Structure & network

Connections & network

1 connected company

Linked via shared directors

THE CAPITAL MARKETS COMPANY

viaMarcel Du Bois · Director

→

Capital and shareholders

Capital increase of 42,000 EUR

State Gazette act of 17-02-2020

Capital increase of 50,000 EUR · 100 new shares

State Gazette act of 18-10-2012

Founding capital 18,600 EUR

founder: THE CAPITAL MARKETS COMPANY (BE 0463.785.605)

State Gazette act of 07-07-2008

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded03-07-2008

Fiscal year end31-03

Sources

Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers

Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.

Contact details

1 entry

Phone:03/740.10.00

Establishment Machelen (Brab.) 2.171.849.103