CAPFLOW
ActiveSummary
CAPFLOW has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26,272 and a net result of -€3,497. Equity remains stable across the filed financial years (±1.2% per year). Its solvency ranks better than 66% of 1,675 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Overview
- Equity
- €26,272
- Loss
- -€3,497
Why 62raises riskLiquidity: current ratio 2.21, cash €71 change of registered office in 24 monthsLatest accounts 31 days late; 3 of the last 3 latelowers riskSector: Computer programming, consultancy and related activities (NACE 62)Show the evidence
Checked score
About 1 in 100 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 62, micro): better than 47% on solvency, 10% on liquidity, 15% on profitability and 29% on growth.
The bankruptcy probability was computed on 22-10-2026 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).
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Signals
This company filed its last 7 accounts on average 63 days after the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Weakest financial yearnet -€3,497
- Reappointments: Pascal REPJUK (administrateur délégué à…Resignation: Christophe LIENARD (director)
Financials · financial year 2025, full format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00500489.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €2,805 after €156 in 2024, the lowest result in the available series.
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 62, Computer programming, consultancy and related 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 12,322 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90.2% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 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% | 1.0% |
| 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 12,322 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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €2,605 | €4,117 | €9,968 | €0 | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,408 | €3,834 | €0 | €0 | €0 | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €0 | €19 | €19 | €118 | €0 | ▼ 100% |
| Gross operating margin9900 | €106,250 | €31,717 | €4,173 | €2,617 | €4,820 | €10,850 | €274 | -€2,805 | - |
| Operating profit (loss)9901 | €6,674 | €27,719 | €1,204 | €12 | €685 | €863 | €156 | -€2,805 | - |
| Financial income75/76B | - | - | - | €0 | €5 | €0 | €0 | €0 | - |
| Recurring financial income75 | €18 | €0 | €0 | €0 | €5 | €0 | €0 | €0 | - |
| Non-recurring financial income76B | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Financial charges65/66B | - | - | - | €296 | €170 | €449 | €51 | €693 | ▲ 1,263% |
| Recurring financial charges65 | €5,558 | €4,509 | €122 | €296 | €170 | €449 | €51 | €693 | ▲ 1,263% |
| Profit (loss) for the period before taxes9903 | €1,134 | €23,211 | €1,106 | -€284 | €520 | €414 | €105 | -€3,497 | - |
| Profit (loss) for the period9904 | €1,134 | €23,211 | €1,106 | -€284 | €520 | €414 | €105 | -€3,497 | - |
| Profit (loss) for the period to be appropriated9905 | €1,134 | €23,211 | €1,106 | -€284 | €520 | €414 | €105 | -€3,497 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €187,606 | €41,974 | €38,622 | €37,250 | €32,211 | €33,013 | €34,426 | €47,897 | ▲ 39.1% |
| Fixed assets21/28 | €70,834 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Intangible fixed assets21 | €3,834 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €67,000 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Land and buildings22 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Current assets29/58 | €116,772 | €41,974 | €38,622 | €37,250 | €32,211 | €33,013 | €34,426 | €47,897 | ▲ 39.1% |
| Stocks and contracts in progress3 | €44,169 | €15,796 | €16,376 | €16,376 | €17,208 | €16,925 | €16,677 | €21,977 | ▲ 31.8% |
| Stocks30/36 | - | - | - | €16,376 | €17,208 | €16,925 | €16,677 | €21,977 | ▲ 31.8% |
| Amounts receivable within one year40/41 | €59,208 | €26,064 | €21,565 | €20,874 | €15,002 | €16,015 | €17,744 | €25,913 | ▲ 46.0% |
| Trade receivables40 | - | - | - | €19,725 | €7,461 | €3,351 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €1,149 | €7,541 | €12,664 | €17,744 | €25,913 | ▲ 46.0% |
| Cash at bank and in hand54/58 | €13,395 | €113 | €681 | €0 | €1 | €73 | €4 | €7 | ▲ 60.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €187,606 | €41,974 | €38,622 | €37,250 | €32,211 | €33,013 | €34,426 | €47,897 | ▲ 39.1% |
| Equity10/15 | €26,755 | €27,907 | €29,013 | €28,730 | €29,249 | €29,664 | €29,769 | €26,272 | ▼ 11.7% |
| Contributions10/11 | €522,699 | €522,699 | €522,699 | €522,699 | €522,699 | €522,699 | €522,699 | €522,699 | = |
| Capital10 | - | - | - | €522,699 | €522,699 | €522,699 | €522,699 | €522,699 | = |
| Issued capital100 | - | - | - | €522,699 | €522,699 | €522,699 | €522,699 | €522,699 | = |
| Revaluation surpluses12 | - | - | - | €0 | €0 | €0 | - | - | - |
| Reserves13 | €939 | €939 | €939 | €939 | €939 | €939 | €939 | €939 | = |
| Non-distributable reserves130/1 | - | - | - | €939 | €939 | €939 | €939 | €939 | = |
| Legal reserve130 | - | - | - | €939 | €939 | €939 | €939 | €939 | = |
| Profit (loss) carried forward14 | -€518,942 | -€495,731 | -€494,625 | -€494,908 | -€494,389 | -€493,974 | -€493,869 | -€497,366 | ▼ 0.7% |
| Amounts payable17/49 | €160,851 | €14,067 | €9,609 | €8,521 | €2,962 | €3,349 | €4,657 | €21,625 | ▲ 364% |
| Amounts payable after more than one year17 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €160,851 | €14,067 | €9,609 | €8,521 | €2,962 | €3,349 | €4,657 | €21,625 | ▲ 364% |
| Financial debts43 | - | - | - | €0 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0 | - | - | - | - | - |
| Trade debts44 | €23,218 | €9,346 | €9,609 | €7,678 | €1,759 | €1,934 | €316 | €18,122 | ▲ 5,628% |
| Suppliers440/4 | - | - | - | €7,678 | €1,759 | €1,934 | €316 | €18,122 | ▲ 5,628% |
| Taxes, remuneration and social security45 | - | - | - | €842 | €1,203 | €1,416 | €3,332 | €3,503 | ▲ 5.1% |
| Taxes450/3 | - | - | - | €842 | €1,203 | €1,416 | €3,332 | €3,503 | ▲ 5.1% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0 | - | - | €1,008 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,134 | €23,211 | €1,106 | -€284 | €520 | €414 | €105 | -€3,497 | - |
| + Depreciation and write-downs630 | €5,408 | €3,834 | €0 | €0 | €0 | €0 | - | - | - |
| Operating cash flow (approximation) | €6,542 | €27,044 | €1,106 | -€284 | €520 | €414 | €105 | -€3,497 | - |
| Investment in fixed assets (approximation) | - | €67,000 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€13,282 | €568 | -€681 | €1 | €72 | -€69 | €2 | - |
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 31 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00500489 |
| 31-12-2024 | full format | 30-09-2025 | 2025-00535225 |
| 31-12-2023 | full format | 30-10-2024 | 2024-00520264 |
| 31-12-2022 | full format | 28-10-2023 | 2023-00495612 |
| 31-12-2021 | full format | 31-08-2022 | 2022-20372517 |
| 31-12-2020 | full format | 30-08-2021 | 2021-55900021 |
| 31-12-2019 | full format | 13-11-2020 | 2020-70200495 |
| 31-12-2018 | full format | 31-10-2019 | 2019-73100326 |
| 31-12-2017 | full format | 31-10-2018 | 2018-71500286 |
| 31-12-2016 | full format | 25-09-2017 | 2017-61900464 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Day-to-day management 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Alain RIQUIER |
|
| Pascal REPJUK |
|
| Christophe LIENARD |
|
Owners and capital
Capital and shareholders
- 15-02-2024 Capital stated in the deed · €522,698 · 2,814 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
30-10
Gazette deed
Reappointments: Pascal REPJUK (administrateur délégué à la gestion quotidienne) and Alain RIQUIER (director and vice-chair of the board)Resignation: Christophe LIENARD (director)4 facts ▸
- General meeting, 30-08-2025
- Director reappointment, Pascal REPJUK (administrateur délégué à la gestion quotidienne)
- Director reappointment, Alain RIQUIER (director and vice-chair of the board)
- Director resignation, Christophe LIENARD (director)
14-07
Gazette deed
Appointment: Pascal REPJUK (administrateur délégué à la gestion quotidienne)Registered-office move3 facts ▸
- Board meeting, 31-01-2025
- Director appointment, Pascal REPJUK (administrateur délégué à la gestion quotidienne)
- Registered-office move, Boulevard Sainctelette numéro 39 à B-7000 Mons
15-02
Gazette deed
Amendment of the articlesCapital · Registered office clause8 facts ▸
- General meeting, 28-12-2023
- Other provision, “unanimité, adaptation des statuts au Code des sociétés et des associations” (deed in French)
- Other provision, “adoption de statuts complètement nouveaux en concordance avec le Code des sociétés et des associations” (deed in French)
- Capital, €522,698
- General meeting, “audossierdelasociete, etablirsignercoordination” (deed in French)
- Registered office clause, “7350HensiesRueJeanJaurès10/bis” (deed in French)
- General meeting, “toutesdecisions, unanimite” (deed in French)
- Other provision, “droitdecriture”, 100 (deed in French)
Show earlier events
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 2 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 23 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 |
|---|---|---|---|---|
| 53053D0025/00G054 | Wallonia | 1,618 m² | 1 · 516 m² | 24.9 m · 7 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toutes opérations généralement quelconques,industrielles,commerciales,financières,mobilières ou immobilières se rapportant directement ou…” (deed in French)
2 activities (deed in French)
- Toutes opérations généralement quelconques,industrielles,commerciales,financières,mobilières ou immobilières se rapportant directement ou indirectement à toutes opérations d'achat,de vente,de promotions,de recherches,de développement,de location,d'échange,d'exploitation et de gestion de tout bien mobilier ainsi que toute prestation de service,cela dans les domaines de l'informatique,de l'électronique,de l'automatique,de télécommunication ainsi que l'édition de logiciels dans ces domaines
- S'intéresser par voie d'association,d'apport,de fusion,d'intervention financière ou autrement dans toutes sociétés,associations,affaires ou entreprises dont l'objet est identique,analogue,similaire ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de contribuer à l'écoulement de ses produits
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CAPFLOW
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région walionne, sièges administratifs,agences,ateliers,dépôts et succursales,tant en Belgique qu'à l'étranger,par simple décision de…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- One provision in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, usufruitier et nu-propriétaire inscrits séparément avec mention de leurs droits” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Librement, cession et transmission des actions” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Saturday of June at 16:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- 2 provisions in the deed