Capmarin
ActiveSummary
The computed 12-month bankruptcy probability of Capmarin is 5.5% (elevated). The 2024 annual accounts show equity of €1.1m and a net result of €227,044. Equity is growing by ~53.8% per year across the filed fiscal years. Its solvency ranks better than 46% of 15862 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability77▼-16
Solvency59▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
5.5%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.29 against 1.64 in 2023; short-term debt: 56.1% and cash: 9.1% of total assets), and 66.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
33.6%
Return on assets
6.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-06-2025, 58 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
22 d early
2022
40 d early
2021
72 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€227,044▼ 48.1%
2023 · €437,886
Working capital
€551,148▼ 12.8%
2023 · €632,032
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2021202220232024
Operating result-€643,852-€288,013€492,724▲ 71.1%€366,336▼ 25.7%
Net result-€663,302below the sector's middle half-€274,066within the sector's middle half€437,886within the sector's middle half▲ 59.8%€227,044above the sector's middle half▼ 48.1%
Equity€136,698below the sector's middle half-€410,764within the sector's middle half▲ 200%€886,982within the sector's middle half▲ 116%€1.1mabove the sector's middle half▲ 28.5%
Total assets€692,819below the sector's middle half-€1.2mwithin the sector's middle half▲ 71.4%€2.2mwithin the sector's middle half▲ 86.9%€3.4mabove the sector's middle half▲ 52.8%
Debt€556,121-€776,946▲ 39.7%€1.3m▲ 71.6%€2.3m▲ 69.0%
Working capital€162,977-€618,494▲ 279%€632,032▲ 2.2%€551,148▼ 12.8%
Solvency19.7%below the sector's middle half-34.6%within the sector's middle half▲ 14.9pp40.0%within the sector's middle half▲ 5.4pp33.6%within the sector's middle half▼ 6.4pp
Staff (FTE)6.3within the sector's middle half-5.3within the sector's middle half▼ 15.9%9.3within the sector's middle half▲ 75.5%14.6▲ 57.0%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2024 Staff (FTE) +57% on 2023. The accounts now follow the micro schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 26% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.4m
Fixed assets
€938,427 ▲ 54.8%
Current assets
€2.5m ▲ 52.1%
Equity and liabilities €3.4m
Equity
€1.1m ▲ 28.5%
Debt
€2.3m ▲ 69.0%
Debt's share of the balance-sheet total rises from 60.0% to 66.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€543,957▼
2023 · €578,954
Cash flow
€404,665▼
2023 · €524,116
Current ratio
1.29▼
2023 · 1.64
Quick ratio
1.21▼
2023 · 1.56
Debt to equity
1.98▲
2023 · 1.50
ROE
19.9%▼
2023 · 49.4%
ROA
6.7%▼
2023 · 19.7%
Interest coverage
14.82▼
2023 · 16.81
Debt ≤ 1 year
€1.9m▲
2023 · €981,753
Debt > 1 year
€350,000▼
2023 · €351,332
Income taxes
€132,146▲
2023 · €32,046
Staff costs
€629,346▲
2023 · €402,940
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,778 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
2.6%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 5.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.7% |
| 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 75% 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 6,778 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
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | €55,880 | - | - | - | - |
| Remuneration, social security and pensions62 | €327,065 | €182,916 | €402,940 | €629,346 | ▲ 56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76,264 | €56,736 | €86,230 | €177,620 | ▲ 106% |
| Other operating charges640/8 | €10,154 | €3,827 | €16,974 | €16,284 | ▼ 4.1% |
| Non-recurring operating charges66A | €7,900 | €192 | - | - | - |
| Gross operating margin9900 | -€222,469 | €531,684 | €998,868 | €1.2m | ▲ 19.1% |
| Operating profit (loss)9901 | -€643,852 | €288,013 | €492,724 | €366,336 | ▼ 25.7% |
| Financial income75/76B | €281 | - | €11,644 | €29,552 | ▲ 154% |
| Recurring financial income75 | €281 | - | €11,644 | €29,552 | ▲ 154% |
| Financial charges65/66B | €19,335 | €13,541 | €34,436 | €36,697 | ▲ 6.6% |
| Recurring financial charges65 | €19,335 | €13,541 | €34,436 | €36,697 | ▲ 6.6% |
| Profit (loss) for the period before taxes9903 | -€662,906 | €274,473 | €469,932 | €359,191 | ▼ 23.6% |
| Income taxes67/77 | €395 | €407 | €32,046 | €132,146 | ▲ 312% |
| Profit (loss) for the period9904 | -€663,302 | €274,066 | €437,886 | €227,044 | ▼ 48.1% |
| Profit (loss) for the period to be appropriated9905 | -€663,302 | €274,066 | €437,886 | €227,044 | ▼ 48.1% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €692,819 | €1.2m | €2.2m | €3.4m | ▲ 52.8% |
| Fixed assets21/28 | €197,761 | €151,851 | €606,281 | €938,427 | ▲ 54.8% |
| Intangible fixed assets21 | €37,731 | €28,815 | €78,857 | €113,877 | ▲ 44.4% |
| Tangible fixed assets22/27 | €96,590 | €63,189 | €503,371 | €799,325 | ▲ 58.8% |
| Land and buildings22 | - | - | - | €151,203 | - |
| Plant, machinery and equipment23 | €34,087 | €22,834 | €35,759 | €20,576 | ▼ 42.5% |
| Furniture and vehicles24 | €2,764 | €12,417 | €461,428 | €626,303 | ▲ 35.7% |
| Leasing and similar rights25 | €59,740 | €27,938 | €6,184 | €1,243 | ▼ 79.9% |
| Financial fixed assets28 | €63,440 | €59,848 | €24,054 | €25,225 | ▲ 4.9% |
| Current assets29/58 | €495,059 | €1.0m | €1.6m | €2.5m | ▲ 52.1% |
| Stocks and contracts in progress3 | €58,598 | €60,000 | €84,750 | €157,630 | ▲ 86.0% |
| Stocks30/36 | €58,598 | €60,000 | €84,750 | €157,630 | ▲ 86.0% |
| Amounts receivable within one year40/41 | €390,315 | €562,520 | €1.0m | €1.6m | ▲ 52.5% |
| Trade receivables40 | €387,493 | €552,398 | €1.0m | €1.6m | ▲ 54.0% |
| Other amounts receivable41 | €2,822 | €10,122 | €17,212 | €11,392 | ▼ 33.8% |
| Current investments50/53 | - | - | - | €400,000 | - |
| Cash at bank and in hand54/58 | €22,728 | €400,260 | €468,451 | €308,510 | ▼ 34.1% |
| Deferred charges and accrued income490/1 | €23,417 | €13,078 | €20,043 | €996 | ▼ 95.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €692,819 | €1.2m | €2.2m | €3.4m | ▲ 52.8% |
| Equity10/15 | €136,698 | €410,764 | €886,982 | €1.1m | ▲ 28.5% |
| Contributions10/11 | €800,000 | €800,000 | €800,000 | €800,000 | = |
| Profit (loss) carried forward14 | -€663,302 | -€389,236 | €48,650 | €275,694 | ▲ 467% |
| Investment grants15 | - | - | €38,331 | €63,868 | ▲ 66.6% |
| Amounts payable17/49 | €556,121 | €776,946 | €1.3m | €2.3m | ▲ 69.0% |
| Amounts payable after more than one year17 | €224,039 | €358,353 | €351,332 | €350,000 | ▼ 0.4% |
| Financial debts170/4 | €224,039 | €358,353 | €351,332 | €350,000 | ▼ 0.4% |
| Amounts payable within one year42/48 | €332,082 | €417,365 | €981,753 | €1.9m | ▲ 93.8% |
| Current portion of amounts payable after more than one year42 | €31,754 | €17,812 | €20,117 | €1,332 | ▼ 93.4% |
| Financial debts43 | - | €150,000 | €150,000 | - | - |
| Credit institutions430/8 | - | €150,000 | €150,000 | - | - |
| Trade debts44 | €232,960 | €152,269 | €680,921 | €1.5m | ▲ 127% |
| Suppliers440/4 | €232,960 | €152,269 | €680,921 | €1.5m | ▲ 127% |
| Taxes, remuneration and social security45 | €53,779 | €88,708 | €130,714 | €343,992 | ▲ 163% |
| Taxes450/3 | €30,636 | €48,306 | €75,659 | €299,653 | ▲ 296% |
| Remuneration and social security454/9 | €23,144 | €40,403 | €55,055 | €44,339 | ▼ 19.5% |
| Other amounts payable47/48 | €13,588 | €8,575 | €0 | €9,947 | - |
| Accrued charges and deferred income492/3 | - | €1,228 | - | €12 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€663,302 | €274,066 | €437,886 | €227,044 | ▼ 48.1% |
| + Depreciation and write-downs630 | €76,264 | €56,736 | €86,230 | €177,620 | ▲ 106% |
| Operating cash flow (approximation) | -€587,038 | €330,802 | €524,116 | €404,665 | ▼ 22.8% |
| Investment in fixed assets (approximation) | - | -€10,826 | -€540,660 | -€509,766 | ▲ 5.7% |
| Change in cash | - | €377,532 | €68,191 | -€159,941 | ▼ 335% |
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
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €1mEq €1.1m ▲28.5%
3 profitable years in a row build equity to €1.1m.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2021net €437,886 ▲59.8%
Operating result €492,724, net result €437,886, both a record.
31-12
Financial
Equity above €500,000Eq €886,982 ▲116%
2 profitable years in a row build equity to €886,982.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €274,066
Net result €274,066 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €410,764 ▲200%
Equity rises from €136,698 to €410,764.
11-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 72 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brussel · 5 establishment units since 2020
Ground area
7.4 ha
Building footprint
5.2 ha
Volume, LiDAR
516,843 m³
5 parcels, Brussels, Flanders, Wallonia · tallest building 25.0 m, ±8 floors. Linked by address, not a title deed.
35
companies at this address
See who is registered here
5 establishment units
Capmarin
since 20202.300.551.770
Negende Linielaan 35, 1000 Brussel
since 20212.315.052.478
Capmarin
since 20262.382.931.791
Capmarin
since 20262.388.046.166
Sardina Anvers
since 20262.388.153.460
5 parcels
Flanders
1
(20%)
Wallonia
2
(40%)
Brussels
2
(40%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21307F0076/00D000 | Brussels | 5.0 ha | 1 · 5.0 ha | 17.9 m · 4 fl. |
| 52302A0711/00R004 | Wallonia | 2.3 ha | 1 · 861 m² | 14.8 m · 3 fl. |
| 21812N1454/00X004 | Brussels | 1,013 m² | 1 · 874 m² | 24.9 m · 8 fl. |
| 11312A0092/00F000 | Flanders | 337 m² | 1 · 308 m² | 17.3 m · 2 fl. |
| 52026D0489/00S000 | Wallonia | 233 m² | 1 · 107 m² | 11.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
5 of 5 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerOwners 1
-
50%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
3 sitesCharleroi2.300.551.770
Anderlecht2.388.046.166
Charleroi2.382.931.791
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Of 231 companies in sector 46323 we hold annual accounts for 155. 98 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-03-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46323Wholesale trade
10200Manufacture of food products
47230Retail trade
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0744984249
Registered
13-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.