KAPCARE
Open bankruptcyA bankruptcy procedure is open for KAPCARE according to publications in the Belgian State Gazette; curator: YSABELLE ENSCH.
Summary
The file additionally contains 3 judicial reorganisation notices. The 2024 annual accounts show equity of €384,155 and a net result of -€1.4m.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Declared bankrupt
- 19 January 2026
- Supervising judge
- Alain Gillis
- Official Gazette
- 28-01-2026 (pdf) ↗search the document for 2026/103451
Deadlines
- Appeal or third-party opposition until
- passed on 12 February 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 18 February 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 25 February 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 19 January 2027Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Ysabelle EnschAvenue Louise 349 B 17, 1050 Ixellesyensch@ensch.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-07-2025, 9 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
9 d early
2023
47 d late
2022
28 d late
2021
29 d late
2020
30 d late
2019
73 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 33 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?Process a list How is the Wholesale of pharmaceutical and medical goods sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1.4m▲ 30.8%
2023 · -€2.0m
Working capital
€69,440▼ 87.4%
2023 · €552,279
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€491,788▲ 17.0%-€1.1m▼ 121%-€1.8m▼ 64.4%-€1.9m▼ 8.8%-€1.3m▲ 32.0%
Net result-€395,128below the sector's middle half▲ 24.7%-€1.0mbelow the sector's middle half▼ 161%-€1.7mbelow the sector's middle half▼ 64.5%-€2.0mbelow the sector's middle half▼ 20.7%-€1.4mbelow the sector's middle half▲ 30.8%
Equity€630,869above the sector's middle half▼ 33.5%€2.7mabove the sector's middle half▲ 321%€879,363above the sector's middle half▼ 66.9%-€1.1mbelow the sector's middle half€384,155above the sector's middle half
Total assets€1.5mabove the sector's middle half▲ 12.3%€3.3mabove the sector's middle half▲ 124%€3.2mabove the sector's middle half▼ 2.9%€3.3mabove the sector's middle half▲ 3.2%€2.8mabove the sector's middle half▼ 13.8%
Debt€739,285▲ 174%€541,150▼ 26.8%€2.2m▲ 315%€4.3m▲ 92.7%€2.4m▼ 44.6%
Working capital€268,307above the sector's middle half▼ 34.5%€1.5mabove the sector's middle half▲ 460%€309,578above the sector's middle half▼ 79.4%€552,279above the sector's middle half▲ 78.4%€69,440within the sector's middle half▼ 87.4%
Solvency43.3%within the sector's middle half▼ 29.8pp81.3%above the sector's middle half▲ 38.0pp27.7%within the sector's middle half▼ 53.6pp-34.2%below the sector's middle half▼ 61.9pp13.6%within the sector's middle half▲ 47.8pp
Current ratio2.52within the sector's middle half▼ 0.224.06above the sector's middle half▲ 1.541.26within the sector's middle half▼ 2.801.54within the sector's middle half▲ 0.281.06within the sector's middle half▼ 0.49
Return on assets (ROA)-27.1%below the sector's middle half▲ 13.3pp-31.5%below the sector's middle half▼ 4.4pp-53.5%below the sector's middle half▼ 21.9pp-62.5%below the sector's middle half▼ 9.0pp-50.2%below the sector's middle half▲ 12.3pp
Staff (FTE)6.2above the sector's middle half▲ 5.1%8.2▲ 32.3%12.7▲ 54.9%14.2▲ 11.8%6.8▼ 52.1%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.3m in 2024 against €1.9m in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.8m
Fixed assets
€1.5m ▼ 10.5%
Current assets
€1.3m ▼ 17.4%
Equity and liabilities €2.8m
Equity
€384,155
Provisions
€43,851
Debt
€2.4m
Debt finances 84.8% of the balance-sheet total.
Key figures and ratios
EBITDA
-€831,681▲
2023 · -€1.5m
Cash flow
-€928,176▲
2023 · -€1.6m
Quick ratio
0.24▲
2023 · 0.23
Debt to equity
6.23▲
2023 · -3.86
ROE
-368.8%
Interest coverage
-4.39▲
2023 · -6.72
Debt ≤ 1 year
€1.2m▲
2023 · €1.0m
Debt > 1 year
€1.0m▼
2023 · €3.2m
Income taxes
€25,363▲
2023 · €15,894
Staff costs
€849,014▼
2023 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €123 | - |
| Remuneration, social security and pensions62 | - | €654,144 | €1.1m | €1.3m | €849,014 | ▼ 33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €189,558 | €225,966 | €323,547 | €427,857 | €488,643 | ▲ 14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €30,750 | - | - | - | - |
| Other operating charges640/8 | - | €8,364 | €10,754 | €20,221 | €23,820 | ▲ 17.8% |
| Non-recurring operating charges66A | - | - | - | - | €72,948 | - |
| Gross operating margin9900 | €55,217 | -€166,845 | -€317,244 | -€224,243 | €114,101 | ▲ 151% |
| Operating profit (loss)9901 | -€491,788 | -€1.1m | -€1.8m | -€1.9m | -€1.3m | ▲ 32.0% |
| Financial income75/76B | - | €80,985 | €80,999 | €108,387 | €91,638 | ▼ 15.5% |
| Recurring financial income75 | €80,931 | €80,985 | €80,999 | €108,252 | €91,404 | ▼ 15.6% |
| Non-recurring financial income76B | - | - | - | €135 | €234 | ▲ 73.3% |
| Financial charges65/66B | - | €46,316 | €13,109 | €227,572 | €189,392 | ▼ 16.8% |
| Recurring financial charges65 | €4,774 | €46,316 | €13,109 | €225,131 | €189,392 | ▼ 15.9% |
| Non-recurring financial charges66B | - | - | - | €2,441 | - | - |
| Profit (loss) for the period before taxes9903 | -€415,631 | -€1.1m | -€1.7m | -€2.1m | -€1.4m | ▲ 31.2% |
| Transfer from deferred taxes780 | - | €21,274 | €21,274 | €29,882 | €26,623 | ▼ 10.9% |
| Income taxes67/77 | €604 | €508 | - | €15,894 | €25,363 | ▲ 59.6% |
| Profit (loss) for the period9904 | -€395,128 | -€1.0m | -€1.7m | -€2.0m | -€1.4m | ▲ 30.8% |
| Profit (loss) for the period to be appropriated9905 | -€395,128 | -€1.0m | -€1.7m | -€2.0m | -€1.4m | ▲ 30.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €3.3m | €3.2m | €3.3m | €2.8m | ▼ 13.8% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €1.0m | €1.3m | €1.7m | €1.7m | €1.5m | ▼ 10.5% |
| Intangible fixed assets21 | €962,667 | €1.2m | €1.6m | €1.6m | €1.5m | ▼ 8.7% |
| Tangible fixed assets22/27 | €49,427 | €78,546 | €80,999 | €51,191 | €15,092 | ▼ 70.5% |
| Plant, machinery and equipment23 | - | €50,014 | €50,720 | €24,607 | €6,378 | ▼ 74.1% |
| Furniture and vehicles24 | - | €4,378 | €8,827 | €7,796 | €8,713 | ▲ 11.8% |
| Other tangible fixed assets26 | - | €24,154 | €21,452 | €18,789 | €0 | ▼ 100% |
| Financial fixed assets28 | €290 | €23,140 | €23,140 | €23,487 | €23,487 | = |
| Current assets29/58 | €444,968 | €2.0m | €1.5m | €1.6m | €1.3m | ▼ 17.4% |
| Amounts receivable after more than one year29 | - | - | - | - | €2,000 | - |
| Other amounts receivable291 | - | - | - | - | €2,000 | - |
| Stocks and contracts in progress3 | €65,158 | €172,272 | €534,501 | €1.3m | €1.0m | ▼ 24.8% |
| Stocks30/36 | - | €145,795 | €440,052 | €1.3m | €1.0m | ▼ 24.8% |
| Contracts in progress37 | - | €26,478 | €94,449 | - | - | - |
| Amounts receivable within one year40/41 | €105,767 | €368,550 | €810,329 | €184,760 | €270,360 | ▲ 46.3% |
| Trade receivables40 | - | €294,550 | €724,520 | €130,984 | €235,910 | ▲ 80.1% |
| Other amounts receivable41 | - | €74,000 | €85,809 | €53,776 | €34,451 | ▼ 35.9% |
| Cash at bank and in hand54/58 | €264,431 | €1.4m | €140,315 | €20,932 | €3,773 | ▼ 82.0% |
| Deferred charges and accrued income490/1 | - | €4,040 | €11,074 | €24,609 | €13,219 | ▼ 46.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €3.3m | €3.2m | €3.3m | €2.8m | ▼ 13.8% |
| Equity10/15 | €630,869 | €2.7m | €879,363 | -€1.1m | €384,155 | ▲ 134% |
| Contributions10/11 | €1.4m | €4.5m | €4.5m | €4.5m | €7.5m | ▲ 66.7% |
| Capital10 | - | €4.5m | €4.5m | €4.5m | €7.5m | ▲ 66.7% |
| Issued capital100 | - | €4.5m | €4.5m | €4.5m | €7.5m | ▲ 66.7% |
| Profit (loss) carried forward14 | -€1.1m | -€2.1m | -€3.8m | -€5.9m | -€7.3m | ▼ 24.2% |
| Investment grants15 | - | €254,746 | €173,910 | €222,196 | €130,792 | ▼ 41.1% |
| Provisions and deferred taxes16 | €87,198 | €69,981 | €48,707 | €70,473 | €43,851 | ▼ 37.8% |
| Deferred taxes168 | - | €69,981 | €48,707 | €70,473 | €43,851 | ▼ 37.8% |
| Amounts payable17/49 | €739,285 | €541,150 | €2.2m | €4.3m | €2.4m | ▼ 44.6% |
| Amounts payable after more than one year17 | €559,000 | €30,000 | €590,000 | €3.2m | €1.0m | ▼ 67.2% |
| Financial debts170/4 | - | €30,000 | €590,000 | €3.2m | €1.0m | ▼ 67.2% |
| Amounts payable within one year42/48 | €176,661 | €491,047 | €1.2m | €1.0m | €1.2m | ▲ 20.7% |
| Current portion of amounts payable after more than one year42 | - | €82,500 | €122,500 | €107,792 | €271,725 | ▲ 152% |
| Financial debts43 | - | - | €300,000 | - | €5,474 | - |
| Credit institutions430/8 | - | - | €300,000 | - | €5,474 | - |
| Trade debts44 | €109,411 | €331,642 | €573,839 | €596,603 | €680,680 | ▲ 14.1% |
| Suppliers440/4 | - | €331,642 | €573,839 | €596,603 | €680,680 | ▲ 14.1% |
| Advances received on contracts in progress46 | - | - | - | €123,266 | €96,258 | ▼ 21.9% |
| Taxes, remuneration and social security45 | - | €73,232 | €186,428 | €183,860 | €158,624 | ▼ 13.7% |
| Taxes450/3 | - | €6,476 | €42,653 | €17,164 | €19,984 | ▲ 16.4% |
| Remuneration and social security454/9 | - | €66,756 | €143,775 | €166,697 | €138,640 | ▼ 16.8% |
| Other amounts payable47/48 | - | €3,673 | €3,874 | €5,236 | €14,331 | ▲ 174% |
| Accrued charges and deferred income492/3 | - | €20,103 | €466,464 | €145,182 | €130,566 | ▼ 10.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€395,128 | -€1.0m | -€1.7m | -€2.0m | -€1.4m | ▲ 30.8% |
| + Depreciation and write-downs630 | €189,558 | €225,966 | €323,547 | €427,857 | €488,643 | ▲ 14.2% |
| Operating cash flow (approximation) | -€205,570 | -€804,668 | -€1.4m | -€1.6m | -€928,176 | ▲ 42.7% |
| Investment in fixed assets (approximation) | - | -€487,453 | -€724,631 | -€457,327 | -€310,496 | ▲ 32.1% |
| Change in cash | - | €1.2m | -€1.3m | -€119,383 | -€17,160 | ▲ 85.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
28-01
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 19-01-2026
2025
30-10
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise francophone de Bruxelles · event 22-10-2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
27-05
Judicial reorganisation
Extension
Tribunal de l’entreprise francophone de Bruxelles · amicable agreement · event 13-05-2025
20-01
Judicial reorganisation
Opening
Tribunal de l’entreprise francophone de Bruxelles · amicable agreement · event 08-01-2025
2024
31-12
Financial
Equity above €200,000Eq €384,155
Equity rises from -€1.1m to €384,155.
16-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 47 days late
2023
31-12
Financial
Weakest financial yearnet -€2.0m
Net result drops to -€2.0m, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €2mEq €2.7m ▲321%
Equity rises from €630,869 to €2.7m.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
Show earlier events
2020
12-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 73 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 2.74
Current ratio from 0.95 to 2.74; short-term debt falls from €265,750 to €235,115.
31-12
Financial
Equity above €500,000Eq €948,309 ▲1,444%
Equity rises from €61,417 to €948,309.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 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
Registered office, Oudergem · 1 establishment unit since 2017
Ground area
208 m²
Building footprint
207 m²
Volume, LiDAR
2,178 m³
Parcel 21002A0170/00E004, Brussels · tallest building 14.9 m, ±4 floors. Linked by address, not a title deed.
76
companies at this address
See who is registered here
1 establishment unit
KapCare
since 20172.267.990.949
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21002A0170/00E004 | Brussels | 208 m² | 1 · 207 m² | 14.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | YSABELLE ENSCH AVENUE LOUISE 349 B 17,
1050 IXELLES |
19-01-2026 → present |
Structure & network
Owners and holdings
6 ownersOwners 6
-
29.74%
-
22.76%
-
11.74%
-
8%
- Sourceaccounts KAP'S 20241%
-
0.05%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 1,901 companies in sector 46460 we hold annual accounts for 1,126. 755 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-09-2017
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.