CAPITANI
ActiveSummary
CAPITANI has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €254,609 and a net result of -€23,728. Equity is shrinking by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 39% of 10429 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability31▲+19
Solvency52▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity tight (current ratio 1.47 against 1.53 in 2024; short-term debt: 48.7% and cash: 2.6% of total assets), and 72.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€23,728
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
64 d late
2023
on the day
2022
5 d early
2021
53 d late
2020
157 d early
2019
134 d early
← 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 21 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€23,728▲ 54.7%
2024 · -€52,406
Working capital
€210,459▼ 6.2%
2024 · €224,337
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€963€3,582€55,781▲ 1,457%-€46,198-€210▲ 99.5%
Net result€437▼ 99.4%€2,495▲ 471%€38,788▲ 1,455%-€52,406-€23,728▲ 54.7%
Equity€283,764▼ 45.3%€286,259▲ 0.9%€332,267▲ 16.1%€279,101▼ 16.0%€254,609▼ 8.8%
Total assets€506,132▼ 27.8%€631,785▲ 24.8%€827,649▲ 31.0%€973,600▲ 17.6%€926,759▼ 4.8%
Debt€222,368▲ 21.6%€345,525▲ 55.4%€495,382▲ 43.4%€694,499▲ 40.2%€672,150▼ 3.2%
Working capital€220,102▼ 56.7%€245,808▲ 11.7%€427,798▲ 74.0%€224,337▼ 47.6%€210,459▼ 6.2%
Staff (FTE)1.2▼ 14.3%1.6▲ 33.3%3.2▲ 100%5▲ 56.3%2.8▼ 44.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €210 in 2025 against €46,198 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €926,759
Fixed assets
€264,996 ▼ 19.5%
Current assets
€661,764 ▲ 2.7%
Equity and liabilities €926,759
Equity
€254,609 ▼ 8.8%
Debt
€672,150 ▼ 3.2%
Debt's share of the balance-sheet total rises from 71.3% to 72.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€46,102▲
2024 · -€20,627
Cash flow
€22,585▲
2024 · -€26,835
Current ratio
1.47▼
2024 · 1.53
Quick ratio
0.54▼
2024 · 0.55
Debt to equity
2.64▲
2024 · 2.49
ROE
-9.3%▲
2024 · -18.8%
ROA
-2.6%▲
2024 · -5.4%
Interest coverage
1.85▲
2024 · -2.33
Debt ≤ 1 year
€451,304▲
2024 · €420,217
Debt > 1 year
€220,846▼
2024 · €274,282
Staff costs
€188,004▼
2024 · €244,529
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €57,813 | €68,476 | €150,674 | €244,529 | €188,004 | ▼ 23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,663 | €16,380 | €24,377 | €25,571 | €46,313 | ▲ 81.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €12,733 | - |
| Other operating charges640/8 | €715 | €849 | €5,329 | €10,093 | €1,450 | ▼ 85.6% |
| Non-recurring operating charges66A | - | - | - | €6,791 | €6,012 | ▼ 11.5% |
| Gross operating margin9900 | €65,228 | €89,287 | €236,161 | €240,786 | €254,300 | ▲ 5.6% |
| Operating profit (loss)9901 | -€963 | €3,582 | €55,781 | -€46,198 | -€210 | ▲ 99.5% |
| Financial income75/76B | €6,682 | €4,915 | €748 | €2,662 | €1,397 | ▼ 47.5% |
| Recurring financial income75 | €6,682 | €4,915 | €748 | €2,662 | €1,397 | ▼ 47.5% |
| Financial charges65/66B | €5,141 | €5,861 | €7,030 | €8,870 | €24,915 | ▲ 181% |
| Recurring financial charges65 | €5,141 | €5,861 | €7,030 | €8,870 | €24,915 | ▲ 181% |
| Profit (loss) for the period before taxes9903 | €578 | €2,636 | €49,499 | -€52,406 | -€23,728 | ▲ 54.7% |
| Income taxes67/77 | €141 | €141 | €10,711 | - | - | - |
| Profit (loss) for the period9904 | €437 | €2,495 | €38,788 | -€52,406 | -€23,728 | ▲ 54.7% |
| Profit (loss) for the period to be appropriated9905 | €437 | €2,495 | €38,788 | -€52,406 | -€23,728 | ▲ 54.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €506,132 | €631,785 | €827,649 | €973,600 | €926,759 | ▼ 4.8% |
| Fixed assets21/28 | €63,663 | €96,974 | €93,093 | €329,046 | €264,996 | ▼ 19.5% |
| Intangible fixed assets21 | €49,926 | €62,182 | €46,807 | €31,432 | €16,058 | ▼ 48.9% |
| Tangible fixed assets22/27 | €13,586 | €34,593 | €46,086 | €297,414 | €239,764 | ▼ 19.4% |
| Plant, machinery and equipment23 | €13,586 | €16,913 | €30,840 | €21,308 | €18,568 | ▼ 12.9% |
| Furniture and vehicles24 | €0 | €17,680 | €13,955 | €17,962 | €12,676 | ▼ 29.4% |
| Other tangible fixed assets26 | - | - | €1,291 | €258,144 | €208,521 | ▼ 19.2% |
| Financial fixed assets28 | €151 | €200 | €200 | €200 | €9,173 | ▲ 4,487% |
| Current assets29/58 | €442,469 | €534,810 | €734,556 | €644,554 | €661,764 | ▲ 2.7% |
| Stocks and contracts in progress3 | €254,594 | €272,873 | €382,793 | €414,993 | €418,823 | ▲ 0.9% |
| Stocks30/36 | €254,594 | €272,873 | €382,793 | €414,993 | €418,823 | ▲ 0.9% |
| Amounts receivable within one year40/41 | €110,669 | €223,003 | €304,039 | €189,780 | €215,588 | ▲ 13.6% |
| Trade receivables40 | €85,818 | €182,501 | €189,233 | €189,780 | €215,063 | ▲ 13.3% |
| Other amounts receivable41 | €24,851 | €40,502 | €114,806 | - | €524 | - |
| Cash at bank and in hand54/58 | €70,164 | €33,035 | €42,670 | €33,951 | €24,396 | ▼ 28.1% |
| Deferred charges and accrued income490/1 | €7,042 | €5,899 | €5,055 | €5,830 | €2,957 | ▼ 49.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €506,132 | €631,785 | €827,649 | €973,600 | €926,759 | ▼ 4.8% |
| Equity10/15 | €283,764 | €286,259 | €332,267 | €279,101 | €254,609 | ▼ 8.8% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €220,353 | €220,353 | €220,353 | €220,353 | €220,353 | = |
| Non-distributable reserves130/1 | €19,700 | €19,700 | €19,700 | €19,700 | €19,700 | = |
| Legal reserve130 | €19,700 | €19,700 | €19,700 | €19,700 | €19,700 | = |
| Distributable reserves133 | €200,653 | €200,653 | €200,653 | €200,653 | €200,653 | = |
| Profit (loss) carried forward14 | €1,412 | €3,907 | €42,695 | -€9,711 | -€33,438 | ▼ 244% |
| Investment grants15 | - | - | €7,219 | €6,459 | €5,695 | ▼ 11.8% |
| Amounts payable17/49 | €222,368 | €345,525 | €495,382 | €694,499 | €672,150 | ▼ 3.2% |
| Amounts payable after more than one year17 | - | €56,523 | €188,360 | €274,282 | €220,846 | ▼ 19.5% |
| Financial debts170/4 | - | €56,523 | €48,360 | €255,838 | €220,846 | ▼ 13.7% |
| Other amounts payable178/9 | - | - | €140,000 | €18,444 | - | - |
| Amounts payable within one year42/48 | €222,368 | €289,003 | €306,758 | €420,217 | €451,304 | ▲ 7.4% |
| Current portion of amounts payable after more than one year42 | - | €17,280 | €21,274 | €32,031 | €55,096 | ▲ 72.0% |
| Trade debts44 | €161,422 | €164,940 | €224,230 | €171,584 | €187,489 | ▲ 9.3% |
| Suppliers440/4 | €161,422 | €164,940 | €224,230 | €171,584 | €187,489 | ▲ 9.3% |
| Taxes, remuneration and social security45 | €20,929 | €26,782 | €61,254 | €72,245 | €93,712 | ▲ 29.7% |
| Taxes450/3 | €14,197 | €6,865 | €17,655 | €34,558 | €51,233 | ▲ 48.3% |
| Remuneration and social security454/9 | €6,732 | €19,917 | €43,599 | €37,687 | €42,479 | ▲ 12.7% |
| Other amounts payable47/48 | €40,017 | €80,000 | €0 | €144,357 | €115,008 | ▼ 20.3% |
| Accrued charges and deferred income492/3 | - | - | €264 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €437 | €2,495 | €38,788 | -€52,406 | -€23,728 | ▲ 54.7% |
| + Depreciation and write-downs630 | €7,663 | €16,380 | €24,377 | €25,571 | €46,313 | ▲ 81.1% |
| Operating cash flow (approximation) | €8,099 | €18,875 | €63,165 | -€26,835 | €22,585 | ▲ 184% |
| Investment in fixed assets (approximation) | - | -€49,691 | -€20,495 | -€261,524 | €17,738 | ▲ 107% |
| Change in cash | - | -€37,129 | €9,635 | -€8,719 | -€9,555 | ▼ 9.6% |
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
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
03-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 64 days late
2024
31-12
Financial
Weakest financial yearnet -€52,406
Net result drops to -€52,406, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
22-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 53 days late
2021
24-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €73,102 ▲191%
Operating result €93,328, net result €73,102, both a record.
19-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €500,000Eq €500,573 ▲5%
2 profitable years in a row build equity to €500,573.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Zaventem · 1 establishment unit since 2009
Ground area
1,801 m²
Building footprint
324 m²
Volume, LiDAR
2,878 m³
2 parcels, Brussels, Flanders · tallest building 16.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CAPITANI
since 20092.184.968.847
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21902A0274/00T003 | Brussels | 1,321 m² | 1 · 109 m² | 16.4 m · 4 fl. |
| 23078C0089/00T000indicative | Flanders | 480 m² | 1 · 215 m² | 13.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,513 companies in sector 47540 we hold annual accounts for 805. 650 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
Founded29-12-2009
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
47540Retail sale of electrical household appliances
43240Other construction installation
Scores and ratios are computed by Checked and are not a credit decision.