Checked.be
Active
BE 0807.087.213Private limited company
DE KAPPE
Hostenstraat(Kok) 73 ·8670 Koksijde, Belgium· 17 yrs active
Sector: Roofing work
(43410)
Conclusion
DE KAPPE has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €291k and a net result of €19k. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 92% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €291k |
| Net result | €19k |
| Staff (FTE) | 2.7 |
| Better than sector | 92% |
Financial profile
73
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
83
Profitability
32
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2008, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
83
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€24k
estimate, not credit advice
Score history
56
2022
76
2023
100
2024
83
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.87 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.69 (≥ 1.0)
+5
Leverage
Debt/equity 0.16 (< 1.0)
+10
Profitability
ROE 6%
+3
Interest coverage
Interest coverage 18.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 01-06-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~7%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 86.0% | 44.0% | |
| Net result | €19k | €30k | |
| Equity | €291k | €276k | |
| Gross operating margin | €219k | €275k | |
| Staff costs | €154k | €244k |
€51k
-26.9%
22-25
€19k
-40.6%
22-25
€40k
-27.6%
22-25
€339k
-1.7%
22-25
€291k
-1.8%
22-25
€89k
-2.4%
22-25
3
-44.9%
22-25
€154k
-34.5%
22-25
€9k
-29.7%
22-25
€24k
-
22-25
€48k
-1.2%
22-25
€48k
-1.2%
22-25
€0
-100.0%
22-25
2.87
-0.8%
22-25
1.69
-17.9%
22-25
86.0%
-0.1%
22-25
0.16
+0.6%
22-25
6.4%
-39.5%
22-25
5.5%
-39.6%
22-25
18.17
-30.9%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €51k | €70k | €66k | €83k |
| Net profit | €19k | €32k | €22k | €33k |
| Cash flow | €40k | €55k | €49k | €63k |
| Staff costs | €154k | €235k | €261k | €232k |
| Income taxes | €9k | €12k | €12k | €18k |
| Dividends | €24k | - | - | - |
| Total assets | €339k | €344k | €438k | €567k |
| Equity | €291k | €296k | €265k | €242k |
| Debt | €48k | €48k | €174k | €325k |
| of which ≤ 1y | €48k | €48k | €174k | €239k |
| of which > 1y | - | - | €0 | €13k |
| Working capital | €89k | €91k | €33k | €-3k |
| Employees (FTE) | 2.7 | 4.9 | 6.0 | 5.3 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 2.87 | 2.89 | 1.19 | 0.99 |
| Quick ratio | 1.69 | 2.06 | 0.85 | 0.49 |
| Working capital ratio | 26.2% | 26.4% | 7.6% | -0.6% |
| Solvency | 86.0% | 86.0% | 60.4% | 42.7% |
| Debt / equity | 0.16 | 0.16 | 0.66 | 1.34 |
| Long-term debt ratio | - | - | 0.00 | 0.05 |
| Interest coverage | 18.17 | 26.29 | 14.52 | 45.21 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 5.5% | 9.2% | 5.1% | 5.8% |
| ROE | 6.4% | 10.7% | 8.5% | 13.5% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €339k | €344k | €438k | €567k |
| Fixed assets | 21/28 | €202k | €205k | €232k | €332k |
| Tangible fixed assets | 22/27 | €202k | €205k | €232k | €332k |
| Current assets | 29/58 | €136k | €139k | €207k | €235k |
| Stocks & contracts in progress | 3 | €56k | €40k | €59k | €118k |
| Amounts receivable within one year | 40/41 | €54k | €35k | €119k | €95k |
| Cash & bank | 54/58 | €13k | €64k | €19k | €21k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €339k | €344k | €438k | €567k |
| Equity | 10/15 | €291k | €296k | €265k | €242k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k |
| Reserves | 13 | €279k | €284k | €252k | €230k |
| Accumulated profits (losses) | 14 | €0 | - | - | - |
| Amounts payable | 17/49 | €48k | €48k | €174k | €325k |
| Amounts payable after one year | 17 | - | - | €0 | €13k |
| Amounts payable within one year | 42/48 | €48k | €48k | €174k | €239k |
| Trade debts payable within one year | 44 | €16k | €36k | €134k | €126k |
| Income statement | |||||
| Gross operating margin | 9900 | €219k | €311k | €349k | €316k |
| Operating result | 9901 | €30k | €47k | €39k | €52k |
| Financial income | 75 | €88 | €0 | €59 | €171 |
| Financial charges | 65 | €3k | €3k | €5k | €2k |
| Result before taxes | 9903 | €28k | €44k | €35k | €50k |
| Income taxes | 67/77 | €9k | €12k | €12k | €18k |
| Net result for the period | 9904 | €19k | €32k | €22k | €33k |
| Result to be appropriated | 9905 | €19k | €32k | €22k | €33k |
Legal Structure
| NACE primary | Roofing work(43410) |
| Legal form | Private limited company(610) |
| Incorporation | 14-10-2008 |
| Status | Active |
| Postal code | 8670 |
Establishment units
DE KAPPE
since 20082.174.259.057
DE KAPPE
since 20142.236.599.373
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38343A0832/00C000 | Flanders | 1,109 m² | 1 · 353 m² | 6.3 m · 1 fl. |
| 38014F0691/00R000 | Flanders | 839 m² | 1 · 154 m² | 8.4 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €19k ▼40.6%
Net result drops to €19k, the lowest in the series.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 2.89
Current ratio from 1.19 to 2.89; short-term debt falls from €174k to €48k.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Roofing work43410General electrical installation work43211Plumbing work43221Insulation installation43230Specialised construction activities43291
Names & trade names
| Legal nameNL | DE KAPPE |
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