Cappenberg
ActiveSummary
Cappenberg has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.1m and a net result of -€33,935. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 37% of 810 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+1
Solvency70▲+3
Growth62▼-1
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.27 in 2023; short-term debt: 26.5% and cash: 17.9% of total assets), and 54.6% 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 85
Relative position
BE, all sectors
reference
Education (NACE 85)
about 77% 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 dateAge against the risk zone
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 2024Solvency, return and age of the figures
Solvency
45.4%
Return on assets
-1.4%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€33,935
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 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
36 d early
2022
28 d early
2021
25 d early
2020
26 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 29 days before the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Turnover
€39,268▼ 4.0%
2023 · €40,922
EBIT margin
-65.7%▲ 85.9pp
2023 · -151.6%
Net result
-€33,935▲ 51.9%
2023 · -€70,565
Working capital
€242,520▲ 2.2%
2023 · €237,297
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 85, Education, 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
Line20202021202220232024
Turnover€23,804▼ 19.2%€32,654▲ 37.2%€34,600▲ 6.0%€40,922▲ 18.3%€39,268▼ 4.0%
Operating result€941,163-€82,839€117,932-€62,031-€25,797▲ 58.4%
Net result€930,976above the sector's middle half-€92,439below the sector's middle half€108,961within the sector's middle half-€70,565below the sector's middle half-€33,935below the sector's middle half▲ 51.9%
EBIT margin3953.8%▲ 4355.4pp-253.7%▼ 4207.5pp340.8%▲ 594.5pp-151.6%▼ 492.4pp-65.7%▲ 85.9pp
Equity€308,221within the sector's middle half€210,309within the sector's middle half▼ 31.8%€1.3mwithin the sector's middle half▲ 507%€1.2mwithin the sector's middle half▼ 8.7%€1.1mwithin the sector's middle half▼ 6.4%
Total assets€2.5mwithin the sector's middle half▼ 2.2%€2.5mwithin the sector's middle half▼ 2.1%€3.4mwithin the sector's middle half▲ 39.1%€2.8mwithin the sector's middle half▼ 19.7%€2.4mwithin the sector's middle half▼ 12.9%
Debt€2.2m▼ 30.7%€2.3m▲ 2.0%€2.2m▼ 4.4%€1.6m▼ 26.3%€1.3m▼ 17.6%
Working capital-€918,039below the sector's middle half▲ 53.2%-€870,129below the sector's middle half▲ 5.2%€259,240within the sector's middle half€237,297within the sector's middle half▼ 8.5%€242,520within the sector's middle half▲ 2.2%
Solvency12.2%below the sector's middle half▲ 36.1pp8.5%below the sector's middle half▼ 3.7pp37.1%within the sector's middle half▲ 28.6pp42.2%within the sector's middle half▲ 5.1pp45.4%within the sector's middle half▲ 3.1pp
Current ratio0.36below the sector's middle half▲ 0.180.40below the sector's middle half▲ 0.041.18below the sector's middle half▲ 0.781.27below the sector's middle half▲ 0.091.38below the sector's middle half▲ 0.11
Return on assets (ROA)36.9%above the sector's middle half▲ 41.9pp-3.7%below the sector's middle half▼ 40.6pp3.2%within the sector's middle half▲ 6.9pp-2.6%below the sector's middle half▼ 5.7pp-1.4%below the sector's middle half▲ 1.1pp
Staff (FTE)5.1within the sector's middle half▲ 2.0%5.1within the sector's middle half=5.1within the sector's middle half=5.4within the sector's middle half▲ 5.9%4.5within the sector's middle half▼ 16.7%
above
within
below
the middle half (P25 to P75) of NACE 85, Education, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €25,797 in 2024 against €62,031 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.4m
Fixed assets
€1.5m ▼ 7.2%
Current assets
€879,524 ▼ 21.2%
Equity and liabilities €2.4m
Equity
€1.1m ▼ 6.4%
Debt
€1.3m ▼ 17.6%
Debt's share of the balance-sheet total falls from 57.8% to 54.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€104,326▲
2023 · €78,899
Cash flow
€96,188▲
2023 · €70,364
Quick ratio
1.38▲
2023 · 1.27
Debt to equity
1.20▼
2023 · 1.37
ROE
-3.1%▲
2023 · -6.1%
Interest coverage
13.47▲
2023 · 9.54
Debt ≤ 1 year
€637,004▼
2023 · €879,480
Debt > 1 year
€387,084▼
2023 · €417,143
Staff costs
€190,962▼
2023 · €256,498
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,662 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 12,321 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €536,489 | €900,768 | €640,706 | €569,361 | ▼ 11.1% |
| Turnover70 | €23,804 | €32,654 | €34,600 | €40,922 | €39,268 | ▼ 4.0% |
| Other operating income74 | - | €39,477 | €51,145 | €46,661 | €26,950 | ▼ 42.2% |
| Non-recurring operating income76A | - | €11,322 | €239,570 | - | - | - |
| Operating charges60/66A | - | €619,328 | €782,836 | €702,737 | €595,158 | ▼ 15.3% |
| Goods for resale, raw materials and consumables60 | - | €23,051 | €49,436 | €34,271 | €33,075 | ▼ 3.5% |
| Purchases600/8 | - | - | - | €34,271 | - | - |
| Services and other goods61 | - | €220,561 | €300,740 | €257,587 | €233,405 | ▼ 9.4% |
| Remuneration, social security and pensions62 | - | €221,887 | €247,898 | €256,498 | €190,962 | ▼ 25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €148,685 | €148,630 | €152,680 | €140,929 | €130,123 | ▼ 7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €12,398 | -€9,828 | - | - |
| Other operating charges640/8 | - | €5,199 | €19,684 | €23,281 | €7,593 | ▼ 67.4% |
| Operating profit (loss)9901 | €941,163 | -€82,839 | €117,932 | -€62,031 | -€25,797 | ▲ 58.4% |
| Financial income75/76B | - | - | - | €44 | - | - |
| Recurring financial income75 | €3 | - | €3 | €44 | €2 | ▼ 95.4% |
| Other financial income752/9 | - | - | €3 | €44 | €2 | ▼ 95.4% |
| Financial charges65/66B | - | €9,600 | €8,974 | €8,579 | €8,141 | ▼ 5.1% |
| Recurring financial charges65 | €10,189 | €9,600 | €8,974 | €8,579 | €8,141 | ▼ 5.1% |
| Debt charges650 | €9,813 | €9,287 | €8,781 | €8,267 | €7,744 | ▼ 6.3% |
| Other financial charges652/9 | - | €313 | €193 | €311 | €397 | ▲ 27.5% |
| Profit (loss) for the period before taxes9903 | €930,976 | -€92,439 | €108,961 | -€70,565 | -€33,935 | ▲ 51.9% |
| Profit (loss) for the period9904 | €930,976 | -€92,439 | €108,961 | -€70,565 | -€33,935 | ▲ 51.9% |
| Profit (loss) for the period to be appropriated9905 | €930,976 | -€92,439 | €108,961 | -€70,565 | -€33,935 | ▲ 51.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €2.5m | €3.4m | €2.8m | €2.4m | ▼ 12.9% |
| Fixed assets21/28 | €2.0m | €1.9m | €1.8m | €1.6m | €1.5m | ▼ 7.2% |
| Tangible fixed assets22/27 | €2.0m | €1.9m | €1.8m | €1.6m | €1.5m | ▼ 7.2% |
| Land and buildings22 | - | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 7.3% |
| Plant, machinery and equipment23 | - | €24,448 | €32,971 | €29,335 | €28,654 | ▼ 2.3% |
| Furniture and vehicles24 | - | €6,047 | €3,271 | €421 | €281 | ▼ 33.3% |
| Other tangible fixed assets26 | - | - | - | €0 | €0 | - |
| Assets under construction and advance payments27 | - | €15,446 | - | - | - | - |
| Financial fixed assets28 | - | - | - | €300 | €300 | = |
| Other financial fixed assets284/8 | - | - | - | €300 | €300 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €300 | €300 | = |
| Current assets29/58 | €515,567 | €584,983 | €1.7m | €1.1m | €879,524 | ▼ 21.2% |
| Stocks and contracts in progress3 | €799 | €799 | €799 | €799 | €799 | = |
| Stocks30/36 | - | €799 | €799 | €799 | €799 | = |
| Goods purchased for resale34 | - | €799 | €799 | €799 | €799 | = |
| Amounts receivable within one year40/41 | €418,713 | €435,526 | €1.6m | €517,037 | €427,865 | ▼ 17.2% |
| Trade receivables40 | - | €34,680 | €39,151 | €58,387 | €28,244 | ▼ 51.6% |
| Other amounts receivable41 | - | €400,846 | €1.6m | €458,651 | €399,621 | ▼ 12.9% |
| Cash at bank and in hand54/58 | €79,212 | €132,852 | €27,110 | €580,621 | €429,888 | ▼ 26.0% |
| Deferred charges and accrued income490/1 | - | €15,806 | €16,476 | €18,320 | €20,971 | ▲ 14.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €2.5m | €3.4m | €2.8m | €2.4m | ▼ 12.9% |
| Equity10/15 | €308,221 | €210,309 | €1.3m | €1.2m | €1.1m | ▼ 6.4% |
| Profit (loss) carried forward14 | €253,491 | €161,052 | €270,013 | €199,448 | €165,513 | ▼ 17.0% |
| Investment grants15 | - | €49,257 | €1.0m | €966,541 | €925,819 | ▼ 4.2% |
| Amounts payable17/49 | €2.2m | €2.3m | €2.2m | €1.6m | €1.3m | ▼ 17.6% |
| Amounts payable after more than one year17 | €504,174 | €475,679 | €446,672 | €417,143 | €387,084 | ▼ 7.2% |
| Financial debts170/4 | - | €475,679 | €446,672 | €417,143 | €387,084 | ▼ 7.2% |
| Credit institutions173 | - | €475,679 | €446,672 | €417,143 | €387,084 | ▼ 7.2% |
| Amounts payable within one year42/48 | €1.4m | €1.5m | €1.4m | €879,480 | €637,004 | ▼ 27.6% |
| Current portion of amounts payable after more than one year42 | - | €28,495 | €29,007 | €29,529 | €30,060 | ▲ 1.8% |
| Trade debts44 | €41,176 | €53,003 | €75,797 | €91,162 | €35,719 | ▼ 60.8% |
| Suppliers440/4 | - | €53,003 | €75,797 | €91,162 | €35,719 | ▼ 60.8% |
| Advances received on contracts in progress46 | - | - | €2,535 | - | - | - |
| Taxes, remuneration and social security45 | - | €23,847 | €22,881 | €20,134 | €11,545 | ▼ 42.7% |
| Taxes450/3 | - | €4,387 | €4,174 | €1,329 | €1,358 | ▲ 2.2% |
| Remuneration and social security454/9 | - | €19,460 | €18,707 | €18,805 | €10,187 | ▼ 45.8% |
| Accrued charges and deferred income492/3 | - | €331,886 | €291,818 | €297,922 | €289,919 | ▼ 2.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €930,976 | -€92,439 | €108,961 | -€70,565 | -€33,935 | ▲ 51.9% |
| + Depreciation and write-downs630 | €148,685 | €148,630 | €152,680 | €140,929 | €130,123 | ▼ 7.7% |
| Operating cash flow (approximation) | €1.1m | €56,191 | €261,641 | €70,364 | €96,188 | ▲ 36.7% |
| Investment in fixed assets (approximation) | - | -€26,731 | -€21,204 | -€28,159 | -€12,181 | ▲ 56.7% |
| Change in cash | - | €53,640 | -€105,742 | €553,511 | -€150,733 | ▼ 127% |
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
2026
12-06
State Gazette act
Reappointment: Moore Audit bv (statutory auditor)2 facts ▸
State Gazette act
Reappointment: Moore Audit bv (statutory auditor)
2 facts ▸
- General meeting, 18-06-2025
- Auditor reappointment, Moore Audit bv (statutory auditor)
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €108,961
Net result €108,961 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.18
Current ratio from 0.40 to 1.18; short-term debt falls from €1.5m to €1.4m.
31-12
Financial
Equity above €1mEq €1.3m ▲507%
Equity rises from €210,309 to €1.3m.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €930,976
Net result €930,976 after 2 loss-making years.
31-12
Financial
Equity above €200,000Eq €308,221
Equity rises from -€617,282 to €308,221.
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€130,335
Net result drops to -€130,335, the lowest in the series; recovery starts the following year.
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 57 days late
2018
17-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 78 days late
2017
28-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 150 days late
2016
01-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 1 day late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Hove · 2 establishment units since 1988
Ground area
4,315 m²
Building footprint
900 m²
Volume, LiDAR
4,643 m³
2 parcels, Flanders · tallest building 14.9 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
Hoofdzetel van : Vrije Lagere School voor Buitengewoon Onderwijs - Ritmica
since 19882.154.163.132
Vestigingsplaats van : Vrije Lagere School voor Buitengewoon Onderwijs - Ritmica
since 19982.154.163.231
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11512B0259/00Z000 | Flanders | 2,924 m² | 1 · 900 m² | 14.9 m · 1 fl. |
| 11021A0015/00E000 | Flanders | 1,390 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Other statement
One provision in the deed
Public money · subsidies and aid
Flemish government
2022 to 2025 · 12 entries · 1,212,718 EUR awarded · 1,212,718 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,703 EUR | 2,703 EUR |
| 2024 | 3 | 29,749 EUR | 29,749 EUR |
| 2023 | 4 | 3,220 EUR | 1,178,195 EUR |
| 2022 | 3 | 1,177,046 EUR | 2,071 EUR |
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Of 29 companies in sector 85206 we hold annual accounts for 6. 5 are within a factor 10 of this equity. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded26-09-1988
Fiscal year end31-12
Activities, NACEBEL 2025
85206Education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436612242
Registered
04-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.