KAPCONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of KAPCONSTRUCT is 2.5% (moderate). The 2025 annual accounts show equity of €73,073 and a net result of €168. Equity is growing by about 10% per year across the filed financial years. Its solvency ranks better than 56% of 11,149 sector peers (NACE 68, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €73,073
- Profit
- €168
- Parent
- ARTliving · 100%
- ARTlivingDirector · permanent representative WALLAYS Nico Palmer
Why 52raises riskLatest accounts 75 days late; 2 of the last 3 lateLiquidity: current ratio 1.61, cash €71, halvedFigures for financial year 2025 (filed 14-10-2026)lowers riskSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 55% on solvency, 15% on liquidity, 34% on profitability and 46% on growth.
The bankruptcy probability was computed on 21-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 46 days after the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · abbreviated…
- Annual accounts filedfinancial year 2023 · abbreviated…
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (75 days) Filed on 14 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00556231.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen three years in a row; 2025 is 69% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: 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), Staff (FTE).
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.1% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,962 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €710 | €37,838 | €14,848 | €4,318 | €31,099 | ▲ 620% |
| Non-recurring operating charges66A | - | - | - | - | €5,000 | €19,323 | €9,174 | €0 | ▼ 100% |
| Gross operating margin9900 | -€25,391 | €60,821 | -€19,167 | -€5,565 | €69,577 | €57,195 | €24,508 | €34,518 | ▲ 40.8% |
| Operating profit (loss)9901 | -€40,013 | €46,131 | -€43,795 | -€6,275 | €26,739 | €23,023 | €11,016 | €3,418 | ▼ 69.0% |
| Financial income75/76B | - | - | - | €0 | €0 | €0 | - | €4 | - |
| Recurring financial income75 | - | €23 | - | €0 | €0 | €0 | - | €4 | - |
| Financial charges65/66B | - | - | - | €272 | €3,781 | €1,412 | €5,168 | €898 | ▼ 82.6% |
| Recurring financial charges65 | €14,382 | €8,597 | €3,577 | €272 | €3,781 | €1,412 | €5,168 | €898 | ▼ 82.6% |
| Profit (loss) for the period before taxes9903 | -€54,395 | €37,557 | -€47,372 | -€6,547 | €22,958 | €21,612 | €5,848 | €2,524 | ▼ 56.8% |
| Income taxes67/77 | - | €3 | - | - | - | - | €27 | €2,356 | ▲ 8,480% |
| Profit (loss) for the period9904 | -€54,395 | €37,554 | -€47,372 | -€6,547 | €22,958 | €21,612 | €5,821 | €168 | ▼ 97.1% |
| Profit (loss) for the period to be appropriated9905 | -€54,395 | €37,554 | -€47,372 | -€6,547 | €22,958 | €21,612 | €5,821 | €168 | ▼ 97.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €939,599 | €445,933 | €84,864 | €150,882 | €185,599 | €190,637 | €205,767 | €192,149 | ▼ 6.6% |
| Fixed assets21/28 | €402,408 | €140,000 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €402,408 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | - | €140,000 | - | - | - | - | - | - | - |
| Current assets29/58 | €537,191 | €305,933 | €84,864 | €150,882 | €185,599 | €190,637 | €205,767 | €192,149 | ▼ 6.6% |
| Stocks and contracts in progress3 | €464,090 | €175,713 | €10,131 | €10,131 | €10,131 | €10,131 | €10,131 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €10,131 | €10,131 | €10,131 | €10,131 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €73,100 | €113,887 | €51,607 | €109,143 | €151,326 | €159,482 | €173,674 | €192,078 | ▲ 10.6% |
| Trade receivables40 | - | - | - | €89,110 | €80,279 | €80,098 | €51,411 | €64,468 | ▲ 25.4% |
| Other amounts receivable41 | - | - | - | €20,033 | €71,047 | €79,383 | €122,262 | €127,610 | ▲ 4.4% |
| Cash at bank and in hand54/58 | €1 | €133 | €2,326 | €351 | €3,343 | €225 | €1,163 | €71 | ▼ 93.9% |
| Deferred charges and accrued income490/1 | - | - | - | €31,257 | €20,800 | €20,800 | €20,800 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €939,599 | €445,933 | €84,864 | €150,882 | €185,599 | €190,637 | €205,767 | €192,149 | ▼ 6.6% |
| Equity10/15 | €38,880 | €76,434 | €29,062 | €22,515 | €45,473 | €67,084 | €72,905 | €73,073 | ▲ 0.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €68,140 | €68,140 | €68,140 | €68,140 | €68,140 | €46,400 | €46,400 | €46,400 | = |
| Non-distributable reserves130/1 | - | - | - | €1,036 | €1,036 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,036 | €1,036 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €67,104 | €67,104 | €46,400 | €46,400 | €46,400 | = |
| Profit (loss) carried forward14 | -€47,860 | -€10,306 | -€57,678 | -€64,225 | -€41,267 | €2,084 | €7,905 | €8,073 | ▲ 2.1% |
| Amounts payable17/49 | €900,719 | €369,499 | €55,802 | €128,367 | €140,127 | €123,553 | €132,863 | €119,076 | ▼ 10.4% |
| Amounts payable after more than one year17 | €163,661 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €734,808 | €228,945 | €55,802 | €128,367 | €140,127 | €123,553 | €132,863 | €119,076 | ▼ 10.4% |
| Trade debts44 | €88,998 | €7,107 | €8,350 | €36,336 | €17,479 | €4,150 | €2,893 | €4,664 | ▲ 61.2% |
| Suppliers440/4 | - | - | - | €36,336 | €17,479 | €4,150 | €2,893 | €4,664 | ▲ 61.2% |
| Taxes, remuneration and social security45 | - | - | - | €4,599 | €2,527 | €4,193 | €9,808 | €2,356 | ▼ 76.0% |
| Taxes450/3 | - | - | - | €4,599 | €2,527 | €4,193 | €9,808 | €2,356 | ▼ 76.0% |
| Other amounts payable47/48 | - | - | - | €87,433 | €120,121 | €115,211 | €120,161 | €112,056 | ▼ 6.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€54,395 | €37,554 | -€47,372 | -€6,547 | €22,958 | €21,612 | €5,821 | €168 | ▼ 97.1% |
| + Depreciation and write-downs630 | €1,962 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€52,433 | €37,554 | -€47,372 | -€6,547 | €22,958 | €21,612 | €5,821 | €168 | ▼ 97.1% |
| Investment in fixed assets (approximation) | - | €262,408 | - | - | - | - | - | - | - |
| Change in cash | - | €132 | €2,193 | -€1,975 | €2,992 | -€3,118 | €938 | -€1,092 | - |
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 (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-10-2026 | 2026-00556231 |
| 31-12-2024 | abbreviated format | 31-08-2025 | 2025-00453263 |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00311054 |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00385154 |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20412442 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-61400006 |
| 31-12-2019 | micro format | 28-11-2020 | 2020-73700205 |
| 31-12-2018 | micro format | 30-07-2019 | 2019-42600420 |
| 31-12-2017 | micro format | 31-08-2018 | 2018-57600514 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ARTliving |
|
Owners and capital
Owners
1 ownerChain of control
- ARTliving
- KAPCONSTRUCT
Highest known parent: ARTliving. The sources do not say who stands above it.
Owners 1
- ARTlivingparentSourceaccounts ARTliving 2025100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 18-06-2024 Converted to unavailable equity
- 18-06-2024 Converted to available equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
18-06
Gazette deed
Resignation: ARTLIVING (manager)Appointment: ARTLIVING (director) · Permanent representative: WALLAYS Nico Palmer · Capital conversion13 facts ▸
- Other provision, “aanpassing statuten aan WVV en behoud rechtsvorm, statuten aanpassen en rechtsvorm besloten vennootschap (BV) behouden” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital conversion, “beschikbare eigenvermogensrekening” (deed in Dutch)
- Amendment of the articles
- Capital
- Other provision, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Director resignation, ARTLIVING (manager)
- Director appointment, ARTLIVING (director (not named in the articles))
- Permanent representative, WALLAYS Nico Palmer (bestuurder als vast vertegenwoordiger)
- Other provision, “afwezigheid bestuursverbod, geen strafrechtelijk of burgerrechtelijk bestuursverbod om via persoon of tussenpersoon onderneming uit te baten of functie bestuurd…” (deed in Dutch)
- Director discharge, ARTLIVING
- Registered office clause, “9800 Deinze,Heidehof 4” (deed in Dutch)
- +1 further fact in this act
About the unread acts
Of the 7 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 21 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44054B0499/00V003 | Flanders | 1,070 m² | 1 · 205 m² | 9.3 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De aankoop,verkoop en ruiling,het beheer en de valorisatie van haar eigen roerend patrimonium,bestaande uit onder meer…” (deed in Dutch)
8 activities (deed in Dutch)
- De aankoop,verkoop en ruiling,het beheer en de valorisatie van haar eigen roerend patrimonium,bestaande uit onder meer waardepapieren,aandelen,obligaties,staatsfondsen en van alle roerende goederen en rechten,inbegrepen handelszaken
- Het verwerven en beheren van participaties,in eender welke vorm,in alle bestaande of op te richten vennootschappen,ondernemingen,economische samenwerkingsverbanden,beroepsverenigingen of groeperingen,evenals het verlenen van alle managementbijstand en het uitoefenen van alle bestuursmandaten,volmachtdrager,mandataris of vereffenaar en het ter beschikking stellen van personen gespecialiseerd in het adviseren en/of besturen van ondernemingen,dit alles in de meest ruime zin
- Het stimuleren,de planning en coördinatie van de ontwikkeling van vennootschappen en ondernemingen;het deelnemen aan het beheer,bestuur en toezicht van alsmede het verlenen van technische,administratieve en financiële bijstand aan vennootschappen en ondernemingen waarin zij rechtstreeks of onrechtstreeks enig belang heeft
- In het raam van haar thesauriebeheer,het rechtstreeks uitvoeren of door toedoen van vestigingen in België of in het buitenland van trading- en deviezenoperaties en de tussenkomst in de emissie en plaatsing van aandelen,obligaties en allerhande effecten
- Alle verbintenissen van borgtocht,aval of van eender welke garanties;het verstrekken van leningen,voorschotten of borgstellingen.De vennootschap mag ten voordele van derden tevens waarborgen toestaan,alle roerende waarden verpanden en alle onroerende goederen met hypotheek bezwaren
- Het beheren van een eigen onroerend patrimonium en het valoriseren van dit patrimonium vooral door beheersdaden,zoals onroerende goederen verwerven,laten bouwen en verbouwen,laten opschikken,laten uitrusten,ombouwen,verfraaien,in huur geven of nemen,in leasing geven of nemen,verkavelen,onderhouden,ontwikkelen en uitbaten,urbaniseren,vervreemden en ruilen met het oog op beheer,wederbelegging en opbrengst
- Projectontwikkeling in de bouw en toezicht op de bouwwerkzaamheden
- Alle activiteiten van een algemene bouwonderneming
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- KAPCONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, om het even welke plaats in tweetalig gebied Brussel Hoofdstad of Nederlands taalgebied” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, één of meer bestuurders” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Elke overdracht onder levenden ten bezwarende/kosteloze titel,vrijwillig/gedwongen met inbegrip uitsluiting en uittreding,in…” (deed in Dutch)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing algemene vergadering, op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bij ontbinding om welke reden en op welk ogenblik ook, bestuurder(s) in functie als vereffenaar(s) krachtens statuten indien geen andere…” (deed in Dutch)