cApStAn
ActivecApStAn has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €724k and a net result of €377k. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 65% of 180 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability99▲+99
Solvency79▲+22
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 1.56 against 1.02 in 2024; short-term debt: 43.6% and cash: 17.1% of total assets), and 45.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 74
Relative position
BE, all sectors
reference
Sector 74
lower
← 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 2025Solvency, return and age of the figures
Solvency
54.5%
Return on assets
28.4%
Age of the figures
9 mo
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
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
13 d late
2023
28 d early
2022
24 d late
2021
17 d early
2020
8 d early
2019
51 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€377k
2024 · €-490k
2018: €-3k
2019: €4k
2020: €-379k
2021: €157k
2022: €258k
2023: €138k
2024: €-490k
2018 → 2025
Working capital
€322k▲ 2,570%
2024 · €12k
2018: €171k
2019: €183k
2020: €214k
2021: €534k
2022: €487k
2023: €553k
2024: €12k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€641k-€799k▲ 24.6%€837k▲ 4.8%€347k▼ 58.5%€724k▲ 109%
Operating result€165k-€345k▲ 109%€181k▼ 47.5%€-475k€283k
Net result€157k-€258k▲ 64.4%€138k▼ 46.3%€-490k€377k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €283k after a loss of €475k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.33M
Fixed assets
€428k▼ 1.0%
Current assets
€902k▲ 41.7%
Equity and liabilities €1.33M
Equity
€724k▲ 109%
Debt
€605k▼ 16.1%
The debt ratio falls from 67.5% to 45.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€290k▲
2024 · €-468k
Cash flow
€384k▲
2024 · €-484k
Solvency
54.5%▲
2024 · 32.5%
Current ratio
1.56▲
2024 · 1.02
Quick ratio
1.56▲
2024 · 1.02
Debt / equity
0.84▼
2024 · 2.08
ROE
52.1%▲
2024 · -141.2%
ROA
28.4%▲
2024 · -45.9%
Interest coverage
5.89▲
2024 · -19.30
Debt
€605k▼
2024 · €721k
Debt ≤ 1 year
€579k▼
2024 · €624k
Debt > 1 year
€16k▼
2024 · €66k
Income taxes
€660▼
2024 · €9k
Staff costs
€897k▼
2024 · €938k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.07M€1.33M▲
Fixed assets21/28€432k€428k▼
Tangible fixed assets22/27€11k€6k▼
Furniture and vehicles24€11k€6k▼
Financial fixed assets28€421k€421k=
Current assets29/58€637k€902k▲
Amounts receivable after more than one year29€140k€95k▼
Other amounts receivable291€140k€95k▼
Amounts receivable within one year40/41€365k€567k▲
Trade receivables40€362k€532k▲
Other amounts receivable41€3k€35k▲
Cash at bank and in hand54/58€119k€227k▲
Deferred charges and accrued income490/1€12k€13k▲
Equity and liabilities
Total equity and liabilities10/49€1.07M€1.33M▲
Equity10/15€347k€724k▲
Contributions10/11€322k€322k=
Capital10€88k€88k=
Issued capital100€88k€88k=
Outside capital11€234k€234k=
Share premium1100/10€234k€234k=
Revaluation surpluses12€443k€443k=
Reserves13€58k€58k=
Non-distributable reserves130/1€9k€9k=
Legal reserve130€9k€9k=
Tax-exempt reserves132€50k€50k=
Profit (loss) carried forward14€-477k€-99k▲
Amounts payable17/49€721k€605k▼
Amounts payable after more than one year17€66k€16k▼
Financial debts170/4€66k€16k▼
Amounts payable within one year42/48€624k€579k▼
Current portion of amounts payable after more than one year42€30k€31k▲
Financial debts43€60k€65k▲
Credit institutions430/8€60k€65k▲
Trade debts44€223k€223k▲
Suppliers440/4€223k€223k▲
Taxes, remuneration and social security45€167k€144k▼
Taxes450/3€36k€37k▲
Remuneration and social security454/9€132k€107k▼
Other amounts payable47/48€144k€116k▼
Accrued charges and deferred income492/3€31k€10k▼
Income statement
Code20242025
Remuneration, social security and pensions62€938k€897k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€7k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€11k
Other operating charges640/8€1k€1k▲
Gross operating margin9900€471k€1.20M▲
Operating profit (loss)9901€-475k€283k▲
Financial income75/76B€18k€144k▲
Recurring financial income75€18k€144k▲
Financial charges65/66B€24k€49k▲
Recurring financial charges65€24k€49k▲
Profit (loss) for the period before taxes9903€-481k€378k▲
Income taxes67/77€9k€660▼
Profit (loss) for the period9904€-490k€377k▲
Profit (loss) for the period to be appropriated9905€-490k€377k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-477k€-99k▲
Profit (loss) brought forward from the previous period14P€13k€-477k▼
Social balance
Average headcount (FTE)908714.011.0▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director discharge11 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director discharge11 facts ▸
- General meeting, 22/06/2026
- Director resignation, PELAGUS SRL (administrateur)
- Director discharge, PELAGUS SRL
- Director appointment, Øyvind Meistad (administrateur)
- Director appointment, Henrik von Schlanbusch (administrateur)
- Director appointment, Maria Meistad (administrateur)
- Director appointment, Ingrid Meistad (administrateur)
- Mandate compensation, Øyvind Meistad
- Mandate compensation, Henrik von Schlanbusch
- Mandate compensation, Maria Meistad
- Mandate compensation, Ingrid Meistad
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €377k
Net result €377k after one loss-making year.
31-12
Financial
Equity above €500kEq €724k ▲109%
Equity rises from €347k to €724k.
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 13 days late
2024
31-12
Financial
Weakest financial yearnet €-490k ▼454%
Net result drops to €-490k, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €157k
Net result €157k after one loss-making year.
31-12
Financial
Equity above €500kEq €641k ▲32%
Equity rises from €485k to €641k.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
10-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26098175). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Henrik von Schlanbusch
CurrentDirector · since 22-06-2026
Ingrid Meistad
CurrentDirector · since 22-06-2026
Maria Meistad
CurrentDirector · since 22-06-2026
Øyvind Meistad
CurrentDirector · since 22-06-2026
22-06-2026
Henrik von Schlanbusch: Appointed as Director
22-06-2026
Ingrid Meistad: Appointed as Director
22-06-2026
Maria Meistad: Appointed as Director
22-06-2026
Øyvind Meistad: Appointed as Director
22-06-2026
PELAGUS SRL: Resigned as Director
Location & real-estate footprint
Registered office, Watermaal-Bosvoorde · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Terhulpsesteenweg 2681170 Watermaal-BosvoordeGround area
406 m²
Building footprint
385 m²
Volume, LiDAR
2,253 m³
Parcel 21652E0744/00S003, Brussels · tallest building 12.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
cApStAn
since 20082.233.909.406
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0744/00S003 | Brussels | 406 m² | 1 · 385 m² | 12.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
European Union, budget
2021 to 2025 · 4 entries · 132,109 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 1 | 99,736 EUR |
| 2023 | 1 | 0 EUR |
| 2021 | 2 | 32,373 EUR |
Projects
SURVAY QUESTIONNAIRE TRANSLATION
101008589 - COORDINATE - COHORT COMMUNITY RESEARCH AND DEVELOPMENT INFRASTRUCTURE NETWORK FOR ACCESS THROUGHOUT EUROPE
SERVICE CONTRACT FOR SURVEY
SERVICE CONTRACT FOR SURVEY
European research
1 project · 32,375 EUR EU contributionProgrammes
h2020
Projects
COhort cOmmunity Research and Development Infrastructure Network for Access Throughout Europe
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Of 4,529 companies in sector 74301 we hold annual accounts for 719. 329 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded05-07-2007
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
74300Other professional, scientific and technical activities
74301Translation services
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
74141
74142
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
5 entriesWebsite:www.capstan.be
E-mail:steve.dept@capstan.be
Phone:+3226631729
Fax:+3227065179
Phone:02/6631729