Checked.be
Active
BE 0465.096.984Private limited company
KAP EVOLUTION
Joseph Stevensstraat 7 ·1000 Brussel, Belgium· 27 yrs active
Sector: Wholesale of information and communication equipment
(46500)
Conclusion
KAP EVOLUTION has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €229k and a net result of €293. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 86% of 7779 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €229k |
| Net result | €293 |
| Staff (FTE) | 1.9 |
| Better than sector | 86% |
Financial profile
69
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
94
Profitability
1
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1998, 27 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
94
/ 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
€21k
estimate, not credit advice
Score history
86
2021
86
2022
70
2023
78
2024
94
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 5.77 (≥ 1.5)
+10
Quick ratio
Quick ratio 5.77 (≥ 1.0)
+5
Leverage
Debt/equity 0.21 (< 1.0)
+10
Profitability
ROE 0%
+3
Interest coverage
Interest coverage 148.3× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 28-08-2026 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.
declining
Gross margin: declining trend of ~6%/year over 5 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 46, Wholesale trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 82.9% | 44.6% | |
| Net result | €293 | €31k | |
| Equity | €229k | €395k | |
| Gross operating margin | €181k | €210k | |
| Staff costs | €170k | €189k |
€9k
+42.4%
21-25
€293
-
21-25
€6k
+53.9%
21-25
€276k
+3.2%
21-25
€229k
+0.1%
21-25
€225k
+2.9%
21-25
2
-20.8%
21-25
€170k
-17.5%
21-25
€3k
+25.7%
21-25
€47k
+21.2%
21-25
€47k
+21.2%
21-25
€5k
-59.9%
21-25
5.77
-12.8%
21-25
5.77
-12.8%
21-25
82.9%
-3.0%
21-25
0.21
+21.0%
21-25
0.1%
-
21-25
0.1%
-
21-25
148.30
+108.9%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €9k | €7k | €14k | €38k | €37k |
| Net profit | €293 | €-2k | €-4k | €14k | €16k |
| Cash flow | €6k | €4k | €11k | €29k | €28k |
| Staff costs | €170k | €206k | €223k | €186k | €200k |
| Income taxes | €3k | €2k | €2k | €8k | €10k |
| Dividends | - | - | - | - | - |
| Total assets | €276k | €267k | €318k | €324k | €353k |
| Equity | €229k | €228k | €230k | €234k | €220k |
| Debt | €47k | €39k | €88k | €90k | €133k |
| of which ≤ 1y | €47k | €39k | €84k | €79k | €106k |
| of which > 1y | - | - | €5k | €11k | €27k |
| Working capital | €225k | €218k | €220k | €216k | €202k |
| Employees (FTE) | 1.9 | 2.4 | 2.8 | 2.8 | 2.8 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 5.77 | 6.62 | 3.64 | 3.74 | 2.92 |
| Quick ratio | 5.77 | 6.62 | 3.64 | 3.74 | 2.92 |
| Working capital ratio | 81.4% | 81.7% | 69.3% | 66.6% | 57.3% |
| Solvency | 82.9% | 85.5% | 72.3% | 72.2% | 62.4% |
| Debt / equity | 0.21 | 0.17 | 0.38 | 0.38 | 0.60 |
| Long-term debt ratio | - | - | 0.02 | 0.05 | 0.12 |
| Interest coverage | 148.30 | 71.01 | 78.60 | 117.08 | 98.95 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 0.1% | -0.6% | -1.3% | 4.2% | 4.5% |
| ROE | 0.1% | -0.7% | -1.8% | 5.9% | 7.1% |
| 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 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €276k | €267k | €318k | €324k | €353k |
| Fixed assets | 21/28 | €4k | €10k | €14k | €30k | €45k |
| Tangible fixed assets | 22/27 | €4k | €10k | €14k | €29k | €45k |
| Financial fixed assets | 28 | €547 | €547 | €547 | €607 | €607 |
| Current assets | 29/58 | €272k | €257k | €304k | €295k | €308k |
| Amounts receivable within one year | 40/41 | €186k | €236k | €274k | €254k | €161k |
| Cash & bank | 54/58 | €82k | €17k | €26k | €37k | €143k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €276k | €267k | €318k | €324k | €353k |
| Equity | 10/15 | €229k | €228k | €230k | €234k | €220k |
| Contributions / capital | 10/11 | €139k | €139k | €139k | €139k | €139k |
| Reserves | 13 | €50k | €50k | €50k | €50k | €50k |
| Accumulated profits (losses) | 14 | €40k | €40k | €42k | €46k | €32k |
| Amounts payable | 17/49 | €47k | €39k | €88k | €90k | €133k |
| Amounts payable after one year | 17 | - | - | €5k | €11k | €27k |
| Amounts payable within one year | 42/48 | €47k | €39k | €84k | €79k | €106k |
| Trade debts payable within one year | 44 | €13k | €10k | €44k | €8k | €25k |
| Income statement | ||||||
| Gross operating margin | 9900 | €181k | €216k | €237k | €224k | €237k |
| Operating result | 9901 | €3k | €830 | €-2k | €22k | €24k |
| Financial income | 75 | €0 | - | €35 | - | €2k |
| Financial charges | 65 | €63 | €92 | €172 | €323 | €373 |
| Result before taxes | 9903 | €3k | €738 | €-2k | €22k | €26k |
| Income taxes | 67/77 | €3k | €2k | €2k | €8k | €10k |
| Net result for the period | 9904 | €293 | €-2k | €-4k | €14k | €16k |
| Result to be appropriated | 9905 | €293 | €-2k | €-4k | €14k | €20k |
Legal Structure
| NACE primary | Wholesale of information and communication equipment(46500) |
| Legal form | Private limited company(610) |
| Incorporation | 30-12-1998 |
| Status | Active |
| Postal code | 1000 |
Establishment units
Rue de l'Avancée Numérique 1, 4430 Ans
since 19992.091.018.904
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21808H1372/00K000 | Brussels | 2,159 m² | 1 · 2,113 m² | 88.8 m · 7 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Back to profitnet €293
Net result €293 after 2 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-4k ▼130%
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Wholesale of information and communication equipment46500Wholesale trade4666051850Agents in the wholesale of industrial machinery, ships and aircraft46140Computer programming, consultancy and related activities62010Computer programming6210072500Repair and maintenance of computers and communication equipment95100Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles95110
Names & trade names
| Legal nameFR | KAP EVOLUTION |
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