Capstone Development Group
Open bankruptcySummary
A bankruptcy procedure is open for Capstone Development Group according to publications in the Belgian State Gazette. The file additionally contains 2 judicial reorganisations. The 2024 annual accounts show negative equity (€-408k) and a net result of €-420k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
21222324
2021 to 2024 · latest year €-408k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-09-2025, 41 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
41 d late
2023
293 d late
2022
4 d late
2021
6 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€2.45M
EBIT margin
11.8%
Net result
€-420k▼ 117%
2023 · €-194k
2021: €95k
2022: €110k
2023: €-194k
2021 → 2024
Working capital
€-531k▼ 212%
2023 · €-170k
2021: €1.39M
2022: €217k
2023: €-170k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Turnover€2.45M-
Equity€96k-€206k▲ 114%€12k▼ 94.2%€-408k
Operating result€289k-€136k▼ 52.9%€-183k€-139k▲ 23.7%
Net result€95k-€110k▲ 15.1%€-194k€-420k▼ 117%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €139k in 2024 against €183k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €203k
Fixed assets
€157k ▼ 23.8%
Current assets
€46k ▼ 97.2%
Key figures and ratios
EBITDA
€-90k▲
2023 · €-131k
Cash flow
€-371k▼
2023 · €-142k
Solvency
-200.1%▼
2023 · 0.6%
Current ratio
0.08▼
2023 · 0.91
Debt to equity
-1.50
ROA
-205.9%▼
2023 · -10.4%
Interest coverage
-199.93▼
2023 · -11.59
Debt
€613k▼
2023 · €1.86M
Debt ≤ 1 year
€578k▼
2023 · €1.83M
Staff costs
€771▼
2023 · €263k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 44 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.87M€204k▼
Formation expenses20€772€663▼
Fixed assets21/28€206k€157k▼
Intangible fixed assets21€13k€6k▼
Tangible fixed assets22/27€157k€114k▼
Plant, machinery and equipment23€17k€8k▼
Furniture and vehicles24€107k€83k▼
Other tangible fixed assets26€33k€24k▼
Financial fixed assets28€36k€36k=
Current assets29/58€1.66M€46k▼
Amounts receivable within one year40/41€1.66M€46k▼
Trade receivables40€1.63M€4k▼
Other amounts receivable41€29k€42k▲
Cash at bank and in hand54/58€0€0=
Deferred charges and accrued income490/1€493€493=
Equity and liabilities
Total equity and liabilities10/49€1.87M€204k▼
Equity10/15€12k€-408k▼
Contributions10/11€1k€1k=
Profit (loss) carried forward14€11k€-409k▼
Amounts payable17/49€1.86M€613k▼
Amounts payable within one year42/48€1.83M€578k▼
Financial debts43€9k€24k▲
Credit institutions430/8€9k€24k▲
Trade debts44€762k€233k▼
Suppliers440/4€762k€233k▼
Taxes, remuneration and social security45€233k€224k▼
Taxes450/3€123k€123k=
Remuneration and social security454/9€110k€101k▼
Other amounts payable47/48€828k€96k▼
Accrued charges and deferred income492/3€25k€35k▲
Income statement
Code20232024
Remuneration, social security and pensions62€263k€771▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€52k€49k▼
Other operating charges640/8€8k-
Gross operating margin9900€141k€-89k▼
Operating profit (loss)9901€-183k€-139k▲
Financial charges65/66B€11k€281k▲
Recurring financial charges65€11k€451▼
Non-recurring financial charges66B-€281k
Profit (loss) for the period before taxes9903€-194k€-420k▼
Profit (loss) for the period9904€-194k€-420k▼
Profit (loss) for the period to be appropriated9905€-194k€-420k▼
Appropriation of the result
Profit (loss) to be appropriated9906€11k€-409k▼
Profit (loss) brought forward from the previous period14P€205k€11k▼
Social balance
Average headcount (FTE)90874.0-
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
22-10
Bankruptcy
Opening
Ondernemingsrechtbank Leuven · CAPSTONE DEVELOPMENT GROUP BV BROEKSTRAAT 2/7, 3300 TIENEN · event 16-10-2025
10-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 41 days late
20-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 293 days late
2024
31-12
Financial
Weakest financial yearnet €-420k
Net result drops to €-420k, the lowest in the series.
02-09
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Antwerpen · 20240009 · event 14-08-2024
13-06
Judicial reorganisation
Opening
Ondernemingsrechtbank Antwerpen · collectif · event 07-06-2024
2023
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 4 days late
2022
31-12
Financial
Highest result since 2021net €110k ▲15.1%
Net result €110k, the highest in the series.
31-12
Financial
Equity above €200kEq €206k ▲114%
2 profitable years in a row build equity to €206k.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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
1 establishment unit since 2020
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.
Ground area
1,851 m²
Building footprint
723 m²
Volume, LiDAR
3,776 m³
2 parcels, Flanders · tallest building 12.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Capstone Development Group
since 20202.304.825.908
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71037C0202/00M000 | Flanders | 1,380 m² | 1 · 345 m² | 12.8 m · 2 fl. |
| 24593G0720/00A000 | Flanders | 471 m² | 1 · 379 m² | 12.7 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
3 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | DIRK DE MAESENEER ENGELS PLEIN 35,
3000 LEUVEN |
16-10-2025 → present |
| Curator | SVEN DE MAESE-
NEER ENGELS PLEIN 35, 3000 LEUVEN- |
16-10-2025 → present |
| Curator | STEVEN NYSTEN ENGELS
PLEIN 35, 3000 LEUVEN |
16-10-2025 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 135 EUR awarded · 135 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 135 EUR | 135 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,694 companies in sector 68121 we hold annual accounts for 7,383. 3,338 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.