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CAPITOLE

Active
Public limited companyfounded 199531 yrs activeKorte Keppestraat 23, 9320 Aalst, BelgiumKBO/BCE: BE 0455.158.048
Summary

The annual accounts of CAPITOLE for fiscal year 2025 show a net loss of 51% of total assets and of 101% of the equity at the start of that year. The 2025 annual accounts show equity of €290,418 and a net result of -€391,545. Equity is shrinking by ~4% per year across the filed fiscal years. Its solvency ranks better than 55% of 906 sector peers (fiscal year 2025). The company has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysis Watch Report Compare
CAPITOLEActiveChecked score 51/100
Risk analysis Report Compare

Checked score

Score 2025
51 / 100
Fair
Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-26
Solvency63▼-13
Growth22=
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.28 against 0.51 in 2024; short-term debt: 62% and cash: 16.8% of total assets), and 62% of the assets are financed with debt.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 31 years 0 40 y
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · 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
38%
Return on assets
-51.3%
Age of the figures
9 mo
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 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€391,545
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
53 d early
2024
55 d early
2023
54 d early
2022
52 d early
2021
32 d early
2020
43 d early
2019
43 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 47 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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

History

On 2 May 1995, CAPITOLE was incorporated.1 The registered office moved to Kerksken in 2007 and to Erembodegem in 2016.23 The capital was increased 5 times between 2018 and 2025, most recently to EUR 1.4 million.456 Of the 3 current board members, Pivanto BV has served longest, since 2024.7 Revenue went from EUR 1.7 million in 2018 to EUR 958,919 in 2020 and headcount from 9.7 full-time equivalents in 2018 to 10.7 in 2025.8

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 05-07-2007
  3. 3Belgian State Gazette, 11-08-2016
  4. 4Belgian State Gazette, 27-08-2018
  5. 5Belgian State Gazette, 27-03-2024
  6. 6Belgian State Gazette, 03-12-2025
  7. 7Belgian State Gazette, 12-11-2024
  8. 8National Bank, annual accounts 2018, 2020 and 2025

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Financials · fiscal year 2025, abbreviated schema

In the rankings #3 employer in Aalst, Arts, sports and recreation sector
Turnover
€958,919▼ 35.2%
2019 · €1.5m
EBIT margin
-13.1%▲ 9.1pp
2019 · -22.1%
Net result
-€391,545▼ 270%
2024 · -€105,797
Working capital
-€341,896▼ 103%
2024 · -€168,111
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
Turnover
Operating result€25,980-€124,808-€29,177▲ 76.6%-€91,251▼ 213%-€380,868▼ 317%
Net result€19,818-€125,596-€47,605▲ 62.1%-€105,797▼ 122%-€391,545▼ 270%
EBIT margin
Equity€365,961▲ 5.7%€240,365▼ 34.3%€492,760▲ 105%€386,963▼ 21.5%€290,418▼ 24.9%
Total assets€815,789▼ 16.9%€855,911▲ 4.9%€1.2m▲ 37.8%€759,463▼ 35.6%€763,821▲ 0.6%
Debt€449,828▼ 29.2%€615,546▲ 36.8%€687,072▲ 11.6%€343,142▼ 50.1%€473,403▲ 38.0%
Working capital-€349,524▲ 35.9%-€442,088▼ 26.5%-€118,958▲ 73.1%-€168,111▼ 41.3%-€341,896▼ 103%
Staff (FTE)10.3▲ 2.0%9.2▼ 10.7%8.8▼ 4.3%10▲ 13.6%10.7▲ 7.0%
Why a figure moved sharply
  • 2025 Net result -270% on 2024. Cause not known from the registers.
  • 2023 Equity +105% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
-€400,000-€200,000€0Operating result 2021: €25,980€25,980Net result 2021: €19,818€19,818Operating result 2022: -€124,808-€124,808Net result 2022: -€125,596-€125,596Operating result 2023: -€29,177-€29,177Net result 2023: -€47,605-€47,605Operating result 2024: -€91,251-€91,251Net result 2024: -€105,797-€105,797Operating result 2025: -€380,868-€380,868Net result 2025: -€391,545-€391,54520212022202320242025-€400,000-€300,000-€200,000-€100,000€0Operating result 2023: -€29,177-€29,200Net result 2023: -€47,605-€47,600Operating result 2024: -€91,251-€91,300Net result 2024: -€105,797-€106,000Operating result 2025: -€380,868-€381,000Net result 2025: -€391,545-€392,000202320242025
The operating result stays negative: a loss of €380,868 in 2025 against €91,251 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €763,821
Fixed assets €632,314 ▲ 8.2%
Current assets €131,507 ▼ 24.9%
Equity and liabilities €763,821
Equity €290,418 ▼ 24.9%
Provisions €0 ▼ 100%
Debt €473,403 ▲ 38.0%
Debt's share of the balance-sheet total rises from 45.2% to 62.0%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€267,970▼
2024 · €42,733
Cash flow
-€278,647▼
2024 · €28,187
Current ratio
0.28▼
2024 · 0.51
Debt to equity
1.63▲
2024 · 0.89
ROE
-134.8%▼
2024 · -27.3%
ROA
-51.3%▼
2024 · -13.9%
Interest coverage
-24.06▼
2024 · 2.94
Debt ≤ 1 year
€473,403▲
2024 · €343,142
Staff costs
€523,955▲
2024 · €466,501
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 926 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 90% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
1.1% went bankrupt
8.7% stopped otherwise
90% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 926 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet Code20242025
Assets
Total assets20/58€759,463€763,821▲
Fixed assets21/28€584,432€632,314▲
Tangible fixed assets22/27€418,176€466,057▲
Plant, machinery and equipment23€123,950€199,776▲
Other tangible fixed assets26€294,226€266,281▼
Financial fixed assets28€166,256€166,256=
Current assets29/58€175,031€131,507▼
Amounts receivable within one year40/41€2,038€1,709▼
Trade receivables40€1,708€1,379▼
Other amounts receivable41€330€330=
Cash at bank and in hand54/58€158,333€128,333▼
Deferred charges and accrued income490/1€14,660€1,465▼
Equity and liabilities
Total equity and liabilities10/49€759,463€763,821▲
Equity10/15€386,963€290,418▼
Contributions10/11€1.1m€1.4m▲
Capital10€1.1m€1.4m▲
Issued capital100€1.1m€1.4m▲
Outside capital11€83€83=
Share premium1100/10€83€83=
Reserves13€57,536€57,536=
Non-distributable reserves130/1€57,536€57,536=
Legal reserve130€57,536€57,536=
Profit (loss) carried forward14-€726,012-€1.1m▼
Provisions and deferred taxes16€29,358-
Provisions for liabilities and charges160/5€29,358-
Other liabilities and charges164/5€29,358-
Amounts payable17/49€343,142€473,403▲
Amounts payable within one year42/48€343,142€473,403▲
Trade debts44€203,832€201,761▼
Suppliers440/4€203,832€201,761▼
Taxes, remuneration and social security45€56,547€68,024▲
Taxes450/3€5,306€8,469▲
Remuneration and social security454/9€51,241€59,555▲
Other amounts payable47/48€82,763€203,617▲
Income statement Code20242025
Non-recurring operating income76A€14,292-
Remuneration, social security and pensions62€466,501€523,955▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€133,984€112,898▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€29,358-€29,358▼
Other operating charges640/8€708,020€655,604▼
Non-recurring operating charges66A-€10,263
Gross operating margin9900€1.2m€892,494▼
Operating profit (loss)9901-€91,251-€380,868▼
Financial income75/76B€3€458▲
Recurring financial income75€3€458▲
Financial charges65/66B€14,548€11,135▼
Recurring financial charges65€14,548€11,135▼
Profit (loss) for the period before taxes9903-€105,797-€391,545▼
Profit (loss) for the period9904-€105,797-€391,545▼
Profit (loss) for the period to be appropriated9905-€105,797-€391,545▼
Appropriation of the result
Profit (loss) to be appropriated9906-€726,012-€1.1m▼
Profit (loss) brought forward from the previous period14P-€620,215-€726,012▼
Social balance
Average headcount (FTE)908710.010.7▲

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Non-recurring operating income76A€4,790€41,245€29,629€14,292--
Remuneration, social security and pensions62€202,428€392,281€416,793€466,501€523,955▲ 12.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€106,898€109,048€116,363€133,984€112,898▼ 15.7%
Provisions for liabilities and charges: additions (uses and reversals)635/8---€29,358-€29,358▼ 200%
Other operating charges640/8€371,120€577,121€737,354€708,020€655,604▼ 7.4%
Non-recurring operating charges66A----€10,263-
Gross operating margin9900€706,426€953,642€1.2m€1.2m€892,494▼ 28.4%
Operating profit (loss)9901€25,980-€124,808-€29,177-€91,251-€380,868▼ 317%
Financial income75/76B€0€1,956€1,440€3€458▲ 16,143%
Recurring financial income75€0€1,956€1,440€3€458▲ 16,143%
Financial charges65/66B€3,143€2,744€19,868€14,548€11,135▼ 23.5%
Recurring financial charges65€3,143€2,744€19,868€14,548€11,135▼ 23.5%
Profit (loss) for the period before taxes9903€22,837-€125,596-€47,605-€105,797-€391,545▼ 270%
Income taxes67/77€3,020-----
Profit (loss) for the period9904€19,818-€125,596-€47,605-€105,797-€391,545▼ 270%
Profit (loss) for the period to be appropriated9905€19,818-€125,596-€47,605-€105,797-€391,545▼ 270%
Line20212022202320242025Change
Assets
Total assets20/58€815,789€855,911€1.2m€759,463€763,821▲ 0.6%
Fixed assets21/28€729,334€688,771€611,718€584,432€632,314▲ 8.2%
Tangible fixed assets22/27€580,419€539,856€445,461€418,176€466,057▲ 11.5%
Plant, machinery and equipment23€97,666€129,898€101,444€123,950€199,776▲ 61.2%
Other tangible fixed assets26€482,753€409,957€344,018€294,226€266,281▼ 9.5%
Financial fixed assets28€148,915€148,915€166,256€166,256€166,256=
Current assets29/58€86,455€167,141€568,115€175,031€131,507▼ 24.9%
Amounts receivable within one year40/41€220€284€290,246€2,038€1,709▼ 16.1%
Trade receivables40€220€284€2,761€1,708€1,379▼ 19.3%
Other amounts receivable41--€287,485€330€330=
Cash at bank and in hand54/58€75,973€156,594€265,180€158,333€128,333▼ 18.9%
Deferred charges and accrued income490/1€10,263€10,263€12,688€14,660€1,465▼ 90.0%
Equity and liabilities
Total equity and liabilities10/49€815,789€855,911€1.2m€759,463€763,821▲ 0.6%
Equity10/15€365,961€240,365€492,760€386,963€290,418▼ 24.9%
Contributions10/11€755,439€755,439€1.1m€1.1m€1.4m▲ 28.0%
Capital10€755,356€755,356€1.1m€1.1m€1.4m▲ 28.0%
Issued capital100€755,356€755,356€1.1m€1.1m€1.4m▲ 28.0%
Outside capital11€83€83€83€83€83=
Share premium1100/10€83€83€83€83€83=
Reserves13€57,536€57,536€57,536€57,536€57,536=
Non-distributable reserves130/1€57,536€57,536€57,536€57,536€57,536=
Legal reserve130€57,536€57,536€57,536€57,536€57,536=
Profit (loss) carried forward14-€447,014-€572,610-€620,215-€726,012-€1.1m▼ 53.9%
Provisions and deferred taxes16---€29,358--
Provisions for liabilities and charges160/5---€29,358--
Other liabilities and charges164/5---€29,358--
Amounts payable17/49€449,828€615,546€687,072€343,142€473,403▲ 38.0%
Amounts payable within one year42/48€435,979€609,229€687,072€343,142€473,403▲ 38.0%
Trade debts44€265,747€79,507€576,396€203,832€201,761▼ 1.0%
Suppliers440/4€265,747€79,507€576,396€203,832€201,761▼ 1.0%
Taxes, remuneration and social security45€59,420€53,985€66,366€56,547€68,024▲ 20.3%
Taxes450/3€4,893€5,852€3,919€5,306€8,469▲ 59.6%
Remuneration and social security454/9€54,526€48,133€62,447€51,241€59,555▲ 16.2%
Other amounts payable47/48€110,812€475,737€44,310€82,763€203,617▲ 146%
Accrued charges and deferred income492/3€13,849€6,317----
Line20212022202320242025Change
Profit (loss) for the period9904€19,818-€125,596-€47,605-€105,797-€391,545▼ 270%
+ Depreciation and write-downs630€106,898€109,048€116,363€133,984€112,898▼ 15.7%
Operating cash flow (approximation)€126,716-€16,548€68,758€28,187-€278,647▼ 1,089%
Investment in fixed assets (approximation)--€68,485-€39,310-€106,699-€160,780▼ 50.7%
Change in cash-€80,621€108,586-€106,847-€30,000▲ 71.9%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
08-06
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial Weakest financial yearnet -€391,545
Net result drops to -€391,545, the lowest in the series.
03-12
State Gazette act Capital & shares
Capital increase · Bank account · Capital5 facts ▸
  • General meeting, 26-11-2025
  • Capital increase, €295.000
  • Bank account, Citibank Europe plc - Belgium Branch
  • Capital, €1.350.356,46
  • Statutes amendment
12-11
State Gazette act Resignations: Eamonn O'Loughlin (director) and KPMG Bedrijfsrevisoren (statutory auditor)
Appointment: Deloitte Bedrijfsrevisoren (statutory auditor) · Director discharge6 facts ▸
  • General meeting, 29-08-2025
  • Director resignation, Eamonn O'Loughlin (director)
  • Director discharge, Eamonn O'Loughlin (director)
  • Director resignation, KPMG Bedrijfsrevisoren (statutory auditor)
  • Director discharge, KPMG Bedrijfsrevisoren (statutory auditor)
  • Auditor appointment, Deloitte Bedrijfsrevisoren (statutory auditor)
11-06
State Gazette act Appointment: KPMG bedrijfsrevisoren (statutory auditor)
2 facts ▸
  • General meeting, 10-05-2024
  • Auditor appointment, KPMG bedrijfsrevisoren (statutory auditor)
11-06
State Gazette act Appointment: Pivanto BV (afgevaardigde tot het dagelijks bestuur)
Permanent representative: Philippe Joos · Registered-office move4 facts ▸
  • Board meeting, 30-01-2025
  • Director appointment, Pivanto BV (afgevaardigde tot het dagelijks bestuur (gedelegeerd bestuurder))
  • Permanent representative, Philippe Joos
  • Registered-office move, Korte Keppestraat 23, 9320 Erembodegem
06-06
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-11
State Gazette act Appointment: Pivanto BV (director)
Permanent representative: Philippe Joos · Mandate compensation4 facts ▸
  • General meeting
  • Director appointment, Pivanto BV (director)
  • Permanent representative, Philippe Joos
  • Mandate compensation, Pivanto BV
07-06
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
27-03
State Gazette act Capital & shares
Capital increase · Bank account · Capital6 facts ▸
  • General meeting, 29-12-2023
  • Capital increase, €300.000
  • Bank account, CITIBANK EUROPE PLC, bedrag gestort op rekening geopend op naam van huidige vennootschap
  • Capital, €1.055.356,46
  • Statutes amendment
  • Power of attorney, Bestuursorgaan
2023
09-06
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
18-04
State Gazette act Reappointment: Odds&Overlay BV (director)
Permanent representative: Tom De Clercq2 facts ▸
  • Director reappointment, Odds&Overlay BV (director)
  • Permanent representative, Tom De Clercq
Show earlier events
2022
14-12
State Gazette act Resignation: Koen Sanders (director)
Appointment: Eamonn O'Loughlin (director) · Director discharge · Mandate compensation6 facts ▸
  • General meeting, 10-11-2022
  • Director resignation, Koen Sanders (director)
  • Director discharge, Koen Sanders (director)
  • Director appointment, Eamonn O'Loughlin (director)
  • Mandate compensation, Eamonn O'Loughlin
  • Power of attorney, Yves T'Jampens
29-06
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial Back to profitnet €19,818
Net result €19,818 after 3 loss-making years.
26-08
State Gazette act Resignation: EY Bedrijfsrevisoren BV (statutory auditor)
Appointment: KPMG Bedrijfsrevisoren BV/SRL (statutory auditor) · Permanent representative: Steven Veyt · Director discharge8 facts ▸
  • General meeting, 03-06-2021
  • Director resignation, EY Bedrijfsrevisoren BV (statutory auditor)
  • Director discharge, Koen Sanders (director)
  • Director discharge, Odds & Overlay BV (director)
  • Director discharge, EY Bedrijfsrevisoren BV (statutory auditor)
  • Auditor appointment, KPMG Bedrijfsrevisoren BV/SRL (statutory auditor)
  • Permanent representative, Steven Veyt (permanent representative)
  • Mandate compensation, KPMG Bedrijfsrevisoren BV/SRL
18-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
18-01
State Gazette act Statutes amendment
Capital increase · Capital · Power of attorney5 facts ▸
  • General meeting, 28-12-2020
  • Capital increase, €180.000
  • Capital, €755.356,46
  • Statutes amendment
  • Power of attorney, CAPITOLE
2020
22-10
State Gazette act Statutes amendment · Resignations & appointments
Capital3 facts ▸
  • General meeting, 29-09-2020
  • Statutes amendment
  • Capital, €575.356,46
18-06
NBB filing Annual accounts filed
fiscal year 2019 · full schema
13-02
State Gazette act Resignations: Tom De Clercq (director) and Tim de Borle (director)
Appointment: Koen Sanders (director)4 facts ▸
  • General meeting, 19-12-2019
  • Director resignation, Tom De Clercq (director)
  • Director resignation, Tim de Borle (director)
  • Director appointment, Koen Sanders (director)
2019
28-08
State Gazette act Reappointment: Tom De Clercq (director)
Permanent representative: Tom De Clercq3 facts ▸
  • General meeting, 09-05-2019
  • Director reappointment, Tom De Clercq (director)
  • Permanent representative, Tom De Clercq
28-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
27-08
State Gazette act Restructuring
Demerger · Capital increase · Share issue10 facts ▸
  • General meeting, 29-06-2018
  • Demerger, partial split, EUR
  • Capital increase, €5.108,28
  • Share issue, new shares, 733
  • Power of attorney, Alexandra OLBRECHTS
  • Power of attorney, Alexandra OLBRECHTS
  • Power of attorney, Tim CALLEBAUT
  • Power of attorney, ALLEN & OVERY LLP
  • Power of attorney, Tom De Clercq
  • Accounting effect, 01-01-2018
27-08
State Gazette act Restructuring
Demerger · Capital increase · Share issue14 facts ▸
  • General meeting, 29-06-2018
  • Demerger, Inbreng van materieel vaste activa (automatische kansspelen) en samenwerkingsovereenkomst
  • Capital increase, €20.248,18
  • Share issue, new shares, 853
  • Power of attorney, Alexandra OLBRECHTS
  • Power of attorney, Alexandra OLBRECHTS
  • Power of attorney, Tim CALLEBAUT
  • Power of attorney, ALLEN & OVERY LLP
  • Power of attorney, Tom De Clercq
  • Accounting effect, 01-01-2018
  • Exchange ratio, 0.24
  • Balance sheet, 31-12-2017, 178590.00
  • +2 further facts in this act
16-08
State Gazette act Reappointment: Ernst & Young Bedrijfsrevisoren CVBA (statutory auditor)
Permanent representative: Paul Eelen · Mandate compensation3 facts ▸
  • Auditor reappointment, Ernst & Young Bedrijfsrevisoren CVBA
  • Permanent representative, Paul Eelen
  • Mandate compensation, Ernst & Young Bedrijfsrevisoren CVBA
24-07
State Gazette act Miscellaneous
General meeting1 fact ▸
  • General meeting, 28-06-2018
14-06
NBB filing Annual accounts filed
fiscal year 2017 · full schema
15-05
State Gazette act Restructuring
Demerger · Net-asset statement · Share issue15 facts ▸
  • Board meeting, 02-05-2018
  • Demerger, Afsplitsing van het Af te Splitsen Gedeelte (materieel vaste activa in de vorm van automatische kansspelen en de Samenwerkingsovereenkomst met tussenpersoonstel…
  • Net-asset statement, 31-12-2017
  • Net-asset statement, 31-12-2017
  • Share issue, nieuwe aandelen op naam, 4,89 aandelen van de Verkrijgende Vennootschap per 1 aandeel van de Partieel te Splitsen Vennootschap
  • Accounting effect, 01-01-2018
  • Statutes amendment
  • Statutes amendment
  • Power of attorney, Tom De Clercq
  • Legal effective date, 01-07-2018
  • Target date, 29-06-2018
  • Dividend entitlement, 01-01-2018
  • +3 further facts in this act
15-05
State Gazette act Restructuring
Demerger · Share issue · Accounting effect11 facts ▸
  • Board meeting, 02-05-2018
  • Demerger, partielle splitsing, 01-07-2018
  • Share issue, Nieuwe aandelen op naam zonder vermelding van nominale waarde
  • Accounting effect, 01-01-2018
  • Net-asset statement, 31-12-2017
  • Net-asset statement, 31-12-2017
  • Egm target date, 29-06-2018
  • Statutes amendment
  • Statutes amendment
  • Split assets, (1) materieel vaste activa in de vorm van automatische kansspelen (gehuurd dan wel in eigendom); (2) de Samenwerkingsovereenkomst met tussenpersoonstelling afge…
  • Employee exclusion, Alle activa en passiva met betrekking tot huidige of voormalige werknemers van de Partieel te Splitsen Vennootschap zijn volledig uitgesloten van de Partiële Sp…
2017
27-12
State Gazette act Miscellaneous
General meeting1 fact ▸
  • General meeting, 27-11-2017
28-07
NBB filing Annual accounts filed
fiscal year 2016 · full schema
18-05
State Gazette act Capital & shares · Statutes amendment
Capital3 facts ▸
  • General meeting, 21-02-2017
  • Statutes amendment
  • Capital, €550.000
10-04
State Gazette act Appointment: Odds & Overlay BVBA (director)
Permanent representative: Tom De Clercq3 facts ▸
  • General meeting, 20-12-2016
  • Director appointment, Odds & Overlay BVBA (director)
  • Permanent representative, Tom De Clercq
2016
11-08
State Gazette act Appointments: Ernst & Young Bedrijfsrevisoren (statutory auditor) and Tim De Borle (director)
Permanent representative: Paul Eelen · Resignation: Mieke Michiels (director) · Mandate compensation11 facts ▸
  • General meeting, 30-12-2015
  • Auditor appointment, Ernst & Young Bedrijfsrevisoren (statutory auditor)
  • Permanent representative, Paul Eelen
  • Mandate compensation, Ernst & Young Bedrijfsrevisoren
  • General meeting, 30-03-2016
  • Director resignation, Mieke Michiels (director)
  • Director discharge, Mieke Michiels
  • Director appointment, Tim De Borle (director)
  • Mandate compensation, Tim De Borle
  • Board meeting, 31-03-2016
  • Registered-office move, 9320 Erembodegem, Korte Keppestraat 23/6
2015
13-10
State Gazette act Purpose · Statutes amendment
Purpose change · Capital · Representation7 facts ▸
  • General meeting, 03-09-2015
  • Purpose change, De vennootschap heeft tot doel: De exploitatie van een lunapark, waaronder wordt verstaan de exploitatie van alle volgens de Belgische Wet toegestane speelautom…
  • Statutes amendment
  • Statutes amendment
  • Statutes amendment
  • Capital, €550.000
  • Representation, De vennootschap wordt in rechte en ten aanzien van derden geldig vertegenwoordigd door één bestuurder en één vertegenwoordiger van Betco, gezamenlijk optredend
29-09
State Gazette act Resignation: Mieke Michiels (gedelegeerde tot het dagelijks bestuur)
Appointment: Odds & Overlay BVBA (afgevaardigde tot het dagelijks bestuur) · Permanent representative: Tom De Clercq · Director discharge5 facts ▸
  • Board meeting, 02-09-2015
  • Director resignation, Mieke Michiels (gedelegeerde tot het dagelijks bestuur)
  • Director discharge, Mieke Michiels
  • Director appointment, Odds & Overlay BVBA (afgevaardigde tot het dagelijks bestuur)
  • Permanent representative, Tom De Clercq
18-09
State Gazette act Miscellaneous
General meeting1 fact ▸
  • General meeting, 03-09-2015
2014
09-01
State Gazette act Reappointments: Michiels Mieke (director and managing director) and De Clercq Tom (director)
3 facts ▸
  • General meeting, 16-12-2013
  • Director reappointment, Michiels Mieke (director and managing director)
  • Director reappointment, De Clercq Tom (director)
2012
07-02
State Gazette act Capital & shares · Statutes amendment
Power of attorney3 facts ▸
  • General meeting, 30-12-2011
  • Statutes amendment
  • Power of attorney, Raad van bestuur
2007
05-07
State Gazette act Resignations: Joseph Fresco, Jacobus Hendrik Littel and NV Capitole International Games
Appointments: Mieke Michiels (director) and Tom De Clercq (director) · Director discharge · Registered-office move12 facts ▸
  • General meeting, 20-06-2007
  • Director resignation, Joseph Fresco (director)
  • Director resignation, Jacobus Hendrik Littel (director)
  • Director resignation, NV Capitole International Games (director)
  • Director discharge, Joseph Fresco
  • Director discharge, Jacobus Hendrik Littel
  • Director discharge, NV Capitole International Games
  • Director appointment, Mieke Michiels (director)
  • Director appointment, Tom De Clercq (director)
  • Registered-office move, F. Van Hoeymissenstraat 40 te 9451 Kerksken
  • Board meeting, 20-06-2007
  • Director appointment, Mieke Michiels (managing director)
23-04
State Gazette act Reappointment: J. Fresco (afgevaardigd bestuurder)
2 facts ▸
  • General meeting, 22-08-2006
  • Director reappointment, J. Fresco (afgevaardigd bestuurder)
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
30 of 30 acts read

Directors · office · real estate

Directors
2 directors, 1 in day-to-day management, no change since 2025

Board 2

Pivanto BV
Director · since 02-09-2024 · Legal entity · perm. rep.: Philippe Joos
Current
Odds & Overlay BV
Director · Legal entity · perm. rep.: Tom De Clercq
Current
1 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
ODDS & OVERLAY
Director · since 20-12-2016 · Private limited company · perm. rep.: Tom De Clercq
Not recently confirmed

Day-to-day management 1

PIVANTO
Afgevaardigde tot het dagelijks bestuur (gedelegeerd bestuurder) · since 01-02-2025 · Private limited company · perm. rep.: Philippe Joos
Current
2 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
J. Fresco
Afgevaardigd bestuurder · since 25-01-2007
Not recently confirmed
ODDS & OVERLAY
Afgevaardigde tot het dagelijks bestuur · since 02-09-2015 · Private limited company · perm. rep.: Tom De Clercq
Not recently confirmed

Permanent representatives 2

Philippe Joos
Permanent representative · since 01-02-2025 · for PIVANTO
Current
Tom De Clercq
Permanent representative · for Odds & Overlay BV
Current

Statutory auditor 1

Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises
Statutory auditor · since 01-01-2025
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Aalst · 2 establishment units since 1998
seat establishment All 2 establishment units on the map
Ground area
1.8 ha
Building footprint
3,122 m²
Volume, LiDAR
51,671 m³
3 parcels, Flanders · tallest building 58.8 m, ±9 floors. Linked by address, not a title deed.
62 companies at this address See who is registered here
2 establishment units
NAPOLEON GAMES
Breydelstraat 14, 2018 AntwerpenNACE 5530203
since 19982.071.604.254
NAPOLEON GAMES
Zeelaan 168, 8660 De PanneNACE 5530202
since 20002.071.604.551
3 parcels
Flanders 3 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
41342B0932/00D000 Flanders 1.7 ha 1 · 2,128 m² 58.8 m · 9 fl.
38008A0090/00_000 Flanders 568 m² 1 · 513 m² -
11808H1256/00H000 Flanders 480 m² 1 · 480 m² 20.3 m · 5 fl.
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

16 people since 2007, 6 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Odds & Overlay BV
  • Director, already before 18-04-2023 to date
Pivanto BV
  • Director, from 02-09-2024 to date
PIVANTO
  • Afgevaardigde tot het dagelijks bestuur (gedelegeerd bestuurder), from 01-02-2025 to date
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises
  • Statutory auditor, from 01-01-2025 to date
ODDS & OVERLAY
  • Afgevaardigde tot het dagelijks bestuur, from 02-09-2015 not ended, last confirmed 29-09-2015
  • Director, from 20-12-2016 not ended, last confirmed 10-04-2017
J. Fresco
  • Afgevaardigd bestuurder, already before 25-01-2007 not ended, last confirmed 23-04-2007
Eamonn O'Loughlin
  • Director, from 10-11-2022 to 01-09-2025
KPMG Réviseurs d'Entreprises
  • Statutory auditor, from 03-06-2021 to 01-01-2025
Koen Sanders
  • Director, from 19-12-2019 to 10-11-2022
Ernst et Young Reviseurs d'Entreprises
  • Auditor, from 30-12-2015 to 03-06-2021
De Borle Tim
  • Director, from 30-03-2016 to 19-12-2019
Tom De Clercq
  • Director, from 14-06-2007 to 19-12-2019
MICHIELS Mieke
  • Director, from 14-06-2007 to 30-03-2016
  • Managing director, from 20-06-2007 to 18-09-2015
Jacobus Hendrik Littel
  • Director, until 14-06-2007
Joseph Fresco
  • Director, until 14-06-2007
NV Capitole International Games
  • Director, until 14-06-2007
See the board, name and seat on a given date →

Articles of association

Purpose
De exploitatie van een lunapark... Tevens zal de vennootschap de exploitatie van een horecazaak tot voorwerp hebben
Full purpose

De exploitatie van een lunapark... Tevens zal de vennootschap de exploitatie van een horecazaak tot voorwerp hebben...

according to the deed of 22-10-2020

Structure & network

Part of the group NGG 31 companies Group, risk and exposure

Owners and holdings

1 owner · 1 holding

Chain of control

  1. NGG 100%
  2. NAPOLEON GAMES SPORTS 100%
  3. NAPOLEON GAMES 100%
  4. CAPITOLE

Highest known parent: NGG. The sources do not say who stands above it.

Owners 1

Holdings 1

According to the 2025 annual accounts of CAPITOLE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

26 connected companies
Depth
+26 companies via a shared director +26via a shareddirectorCAPITOLE CAPITOLE0455.158.048
Shared directorsBundled connections
This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
ALOHA
Shared director
→
BEPRAQ INVEST
Shared director
→
BREYDEL GAMES
Shared director
→
COCKY'S GAMES
Shared director
→
Show 22 more companies with a shared director
DE CEUSTER CONTINENTAL
Shared director
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E.C.K.
Shared director
→
E.T.C. EUROPA TECHNICS & Cie
Shared director
→
FUTURE GAMES
Shared director
→
Gerardo
Shared director
→
iGames support
Shared director
→
JAVAS
Shared director
→
LAGAUT
Shared director
→
LE CHÂTEAU
Shared director
→
LUCKY SEVEN
Shared director
→
LUNA INVEST
Shared director
→
LUNATIM
Shared director
→
NAPOLEON GAMES INTERNATIONAL
Shared director
→
NAPOLEON GAMES SPORTS
Shared director
→
NEW LAFORGE
Shared director
→
NGG
Shared director
→
OLYMPIAN GAMES
Shared director
→
Ostend Games
Shared director
→
SNOOK
Shared director
→
Société de l'Abbaye
Shared director
→
SPEELHAL.NET
Shared director
→
Valtier Group
Shared director
→

Acquisitions and mergers

2 transactions
Received in a demerger part of:NOBILCO
BE 0439.934.887partial demerger · State Gazette act of 27-08-2018 (2 acts)
Split off to:FUNTASTIC-ANTES
BE 0438.667.454partial demerger · State Gazette act of 27-08-2018 (2 acts) · effective 01-07-2018

Capital and shareholders

Capital over the years
  1. 03-12-2025 Capital increase of 295,000 EUR · to 1,350,356.46 EUR · in cash
  2. 27-03-2024 Capital increase of 300,000 EUR · to 1,055,356.46 EUR · no new shares · in cash
  3. 18-01-2021 Capital increase of 180,000 EUR · to 755,356.46 EUR · in cash
  4. 22-10-2020 Capital stated in the act · 575,356.46 EUR · 6,300 shares
  5. 27-08-2018 Capital increase of 20,248.18 EUR · to 570,248.18 EUR · 853 new shares
  6. 27-08-2018 Capital increase of 5,108.28 EUR · to 575,356.46 EUR · 733 new shares
  7. 18-05-2017 Capital stated in 2 acts · 550,000 EUR · 4,714 shares

Public money · subsidies and aid

Flemish government

2022 · 1 entry · 12,891 EUR awarded · 12,891 EUR paid
Year Entries awardedpaid
2022 1 12,891 EUR12,891 EUR
Schemes
1 entry · 12,891 EUR · 12,891 EUR paid · Fonds voor Innoveren en Ondernemen

Recognitions · licences · registrations

Food safety, FASFC

2 sites
Antwerpen2.071.604.254
2 permissions
Toelating · Detailhandel · since 14-07-2023
Drankgelegenheid · since 01-09-2018
De Panne2.071.604.551
1 permission
Toelating · Eetgelegenheid · since 11-07-2023

Similar companies · same sector, comparable size

BINGOSRENO
BE 0421.876.754
Antwerpen · Eq €299,233
TONIC PLAY
BE 0661.779.629
Soignies · Eq €280,893
KIDIKIDS
BE 0471.131.077
Ans · Eq €301,301
GEMBLOUX INDOOR GAMES CENTER
BE 0804.260.652
Gembloux · Eq €303,367
JEUX DOMI
BE 0451.389.894
Anderlues · Eq €306,515
Of 298 companies in sector 93293 we hold annual accounts for 190. 145 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
Founded02-05-1995
Fiscal year end31-12
Activities, NACEBEL 2025
92000Gambling and betting activities
93293Sports, amusement and recreation activities
56111Full-service restaurants
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID 0208:0455158048
Registered 01-08-2021

Register as of 27 September 2026 · Peppol Directory

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