Summary
CNAP is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €770,164 and a net result of €69,537. Equity is growing by about 18% per year across the filed financial years. Its solvency ranks better than 93% of 9,727 sector peers (NACE 64, financial year 2025). The company has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€770,164▲ 0.6%
2024 · €765,600
Net result
€69,537▲ 27.6%
2024 · €54,505
Total assets
€818,411▲ 1.3%
2024 · €807,860
Solvency
94.1%▼ 0.7pp
2024 · 94.8%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 6% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€108,192
2025
Net result€69,537
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€818,411
2025
Equity€770,164
2025
Debt€48,247
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€4,418
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)8.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency94.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.91
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€29,420-€51,320▲ 74.4%€51,606▲ 0.6%€33,576▼ 34.9%€86,589▲ 158%€114,593▲ 32.3%€102,400▼ 10.6%€108,192▲ 5.7%
Net result€30,599-€30,784▲ 0.6%€195,589above the sector's middle half▲ 535%€331,405above the sector's middle half▲ 69.4%€56,097within the sector's middle half▼ 83.1%€73,020within the sector's middle half▲ 30.2%€54,505within the sector's middle half▼ 25.4%€69,537within the sector's middle half▲ 27.6%
Equity€49,199-€79,983▲ 62.6%€275,572within the sector's middle half▲ 245%€606,977above the sector's middle half▲ 120%€663,074above the sector's middle half▲ 9.2%€736,094above the sector's middle half▲ 11.0%€765,600above the sector's middle half▲ 4.0%€770,164above the sector's middle half▲ 0.6%
Total assets€690,594-€671,659▼ 2.7%€578,040within the sector's middle half▼ 13.9%€822,462within the sector's middle half▲ 42.3%€830,947within the sector's middle half▲ 1.0%€818,390within the sector's middle half▼ 1.5%€807,860within the sector's middle half▼ 1.3%€818,411within the sector's middle half▲ 1.3%
Debt€641,395-€591,675▼ 7.8%€302,467▼ 48.9%€215,485▼ 28.8%€167,873▼ 22.1%€82,296▼ 51.0%€42,260▼ 48.6%€48,247▲ 14.2%
Working capital-€47,564--€77,289▼ 62.5%€24,009within the sector's middle half-€67,042below the sector's middle half-€69,472below the sector's middle half▼ 3.6%-€37,675below the sector's middle half▲ 45.8%-€16,219within the sector's middle half▲ 57.0%-€4,418within the sector's middle half▲ 72.8%
Solvency7.1%-11.9%▲ 4.8pp47.7%within the sector's middle half▲ 35.8pp73.8%within the sector's middle half▲ 26.1pp79.8%above the sector's middle half▲ 6.0pp89.9%above the sector's middle half▲ 10.1pp94.8%above the sector's middle half▲ 4.8pp94.1%above the sector's middle half▼ 0.7pp
Current ratio0.53-0.31▼ 0.211.20within the sector's middle half▲ 0.890.30below the sector's middle half▼ 0.900.39below the sector's middle half▲ 0.090.43below the sector's middle half▲ 0.040.62below the sector's middle half▲ 0.180.91within the sector's middle half▲ 0.29
Return on assets (ROA)4.4%-4.6%▲ 0.2pp33.8%above the sector's middle half▲ 29.3pp40.3%above the sector's middle half▲ 6.5pp6.8%within the sector's middle half▼ 33.5pp8.9%within the sector's middle half▲ 2.2pp6.7%within the sector's middle half▼ 2.2pp8.5%within the sector's middle half▲ 1.7pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €818,411
Fixed assets
€774,586 ▼ 0.9%
Current assets
€43,825 ▲ 68.3%
Equity and liabilities €818,411
Equity
€770,164 ▲ 0.6%
Debt
€48,247 ▲ 14.2%
Debt's share of the balance-sheet total rises from 5.2% to 5.9%. Equity and debt are higher.
Key figures and ratios
ROE
9.0%▲
2024 · 7.1%
Debt ≤ 1 year
€48,243▲
2024 · €42,260
Income taxes
€35,959▼
2024 · €43,615
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,093 | €5,428 | €5,598 | €8,128 | €9,758 | €6,503 | €7,759 | €7,233 | ▼ 6.8% |
| Other operating charges640/8 | - | - | - | €908 | €1,236 | €1,171 | €1,299 | €1,679 | ▲ 29.2% |
| Gross operating margin9900 | €37,529 | €59,786 | €59,103 | €42,612 | €97,583 | €122,268 | €111,459 | €117,103 | ▲ 5.1% |
| Operating profit (loss)9901 | €29,420 | €51,320 | €51,606 | €33,576 | €86,589 | €114,593 | €102,400 | €108,192 | ▲ 5.7% |
| Financial income75/76B | - | - | - | €352,000 | €2,602 | €102 | €0 | - | - |
| Recurring financial income75 | €21,000 | €64 | €167,000 | €352,000 | €2,602 | €102 | €0 | - | - |
| Financial charges65/66B | - | - | - | €11,492 | €4,262 | €4,921 | €4,280 | €2,696 | ▼ 37.0% |
| Recurring financial charges65 | €4,209 | €7,388 | €5,853 | €11,492 | €4,262 | €4,921 | €4,280 | €2,696 | ▼ 37.0% |
| Profit (loss) for the period before taxes9903 | €46,204 | €52,166 | €212,732 | €374,084 | €84,928 | €109,775 | €98,120 | €105,495 | ▲ 7.5% |
| Income taxes67/77 | €15,605 | €21,382 | €17,143 | €42,679 | €28,831 | €36,755 | €43,615 | €35,959 | ▼ 17.6% |
| Profit (loss) for the period9904 | €30,599 | €30,784 | €195,589 | €331,405 | €56,097 | €73,020 | €54,505 | €69,537 | ▲ 27.6% |
| Profit (loss) for the period to be appropriated9905 | €30,599 | €30,784 | €195,589 | €331,405 | €56,097 | €73,020 | €54,505 | €69,537 | ▲ 27.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €690,594 | €671,659 | €578,040 | €822,462 | €830,947 | €818,390 | €807,860 | €818,411 | ▲ 1.3% |
| Fixed assets21/28 | €637,496 | €636,353 | €436,874 | €793,315 | €785,655 | €789,578 | €781,819 | €774,586 | ▼ 0.9% |
| Tangible fixed assets22/27 | €19,496 | €18,353 | €22,874 | €33,315 | €25,655 | €29,303 | €21,544 | €14,311 | ▼ 33.6% |
| Land and buildings22 | - | - | - | €23,659 | €19,915 | €20,738 | €16,284 | €11,829 | ▼ 27.4% |
| Plant, machinery and equipment23 | - | - | - | €1,908 | €1,412 | €916 | €420 | - | - |
| Furniture and vehicles24 | - | - | - | €7,748 | €4,328 | €7,648 | €4,840 | €2,482 | ▼ 48.7% |
| Financial fixed assets28 | €618,000 | €618,000 | €414,000 | €760,000 | €760,000 | €760,275 | €760,275 | €760,275 | = |
| Current assets29/58 | €53,098 | €35,306 | €141,165 | €29,146 | €45,292 | €28,812 | €26,041 | €43,825 | ▲ 68.3% |
| Amounts receivable within one year40/41 | €30,615 | €23,742 | €20,314 | €17,747 | €18,392 | €23,598 | €19,923 | €20,945 | ▲ 5.1% |
| Trade receivables40 | - | - | - | €14,000 | €18,392 | €19,723 | €19,923 | €20,945 | ▲ 5.1% |
| Other amounts receivable41 | - | - | - | €3,747 | - | €3,875 | - | - | - |
| Cash at bank and in hand54/58 | €22,482 | €11,102 | €118,717 | €8,953 | €24,622 | €3,274 | €3,997 | €19,829 | ▲ 396% |
| Deferred charges and accrued income490/1 | - | - | - | €2,447 | €2,278 | €1,940 | €2,121 | €3,050 | ▲ 43.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €690,594 | €671,659 | €578,040 | €822,462 | €830,947 | €818,390 | €807,860 | €818,411 | ▲ 1.3% |
| Equity10/15 | €49,199 | €79,983 | €275,572 | €606,977 | €663,074 | €736,094 | €765,600 | €770,164 | ▲ 0.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €30,599 | €61,383 | €256,972 | €588,377 | €644,474 | €717,494 | €747,000 | €751,564 | ▲ 0.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €586,517 | €644,474 | €717,494 | €747,000 | €751,564 | ▲ 0.6% |
| Amounts payable17/49 | €641,395 | €591,675 | €302,467 | €215,485 | €167,873 | €82,296 | €42,260 | €48,247 | ▲ 14.2% |
| Amounts payable after more than one year17 | €540,733 | €475,790 | €185,311 | €119,297 | €53,108 | €15,809 | - | - | - |
| Financial debts170/4 | - | - | - | €119,297 | €53,108 | €15,809 | - | - | - |
| Amounts payable within one year42/48 | €100,662 | €112,594 | €117,156 | €96,188 | €114,764 | €66,487 | €42,260 | €48,243 | ▲ 14.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €66,015 | €77,934 | €37,300 | €15,809 | - | - |
| Financial debts43 | - | - | - | - | - | €13,000 | - | - | - |
| Credit institutions430/8 | - | - | - | - | - | €13,000 | - | - | - |
| Trade debts44 | €1,336 | €3,224 | €3,934 | €3,334 | €1,177 | €1,151 | €1,645 | €4,287 | ▲ 161% |
| Suppliers440/4 | - | - | - | €3,334 | €1,177 | €1,151 | €1,645 | €4,287 | ▲ 161% |
| Taxes, remuneration and social security45 | - | - | - | €26,162 | €35,622 | €15,036 | €24,388 | €14,998 | ▼ 38.5% |
| Taxes450/3 | - | - | - | €26,162 | €35,622 | €15,036 | €24,388 | €14,998 | ▼ 38.5% |
| Other amounts payable47/48 | - | - | - | €677 | €31 | - | €419 | €28,957 | ▲ 69× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €4 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,599 | €30,784 | €195,589 | €331,405 | €56,097 | €73,020 | €54,505 | €69,537 | ▲ 27.6% |
| + Depreciation and write-downs630 | €5,093 | €5,428 | €5,598 | €8,128 | €9,758 | €6,503 | €7,759 | €7,233 | ▼ 6.8% |
| Operating cash flow (approximation) | €35,692 | €36,212 | €201,186 | €339,533 | €65,856 | €79,523 | €62,264 | €76,769 | ▲ 23.3% |
| Investment in fixed assets (approximation) | - | -€4,285 | €193,881 | -€364,569 | -€2,098 | -€10,426 | €0 | €0 | - |
| Change in cash | - | -€11,380 | €107,614 | -€109,764 | €15,669 | -€21,348 | €724 | €15,832 | ▲ 22× |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-03-2026 | 2026-00068569 |
| 31-12-2024 | micro format | 28-04-2025 | 2025-00086407 |
| 31-12-2023 | micro format | 02-04-2024 | 2024-00059353 |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00220348 |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20225811 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64100362 |
| 31-12-2019 | micro format | 16-09-2020 | 2020-54000290 |
| 31-12-2018 | micro format | 05-08-2019 | 2019-45100263 |
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Of the 24,459 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,049. 13,268 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.