KAPELFARMA
ActiveSummary
KAPELFARMA has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €182,062 and a net result of €120,309. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 39% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+12
Solvency53▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity tight (current ratio 1.11 against 1.25 in 2024; short-term debt: 63.7% and cash: 12.7% of total assets), and 72.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.8%
Return on assets
18.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
13 d early
2023
8 d early
2022
20 d late
2021
19 d late
2020
1 d early
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€182,062▲ 0.2%
2024 · €181,753
Total assets
€653,987▲ 17.5%
2024 · €556,557
Net result
€120,309▲ 36.4%
2024 · €88,172
Working capital
€45,703▼ 40.8%
2024 · €77,186
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€88,243▲ 4.8%€78,745▼ 10.8%€90,605▲ 15.1%€162,347▲ 79.2%€203,212▲ 25.2%
Net result€36,656within the sector's middle half▲ 22.8%€30,893within the sector's middle half▼ 15.7%€36,694within the sector's middle half▲ 18.8%€88,172within the sector's middle half▲ 140%€120,309above the sector's middle half▲ 36.4%
Equity€147,854within the sector's middle half▲ 12.7%€158,747within the sector's middle half▲ 7.4%€175,441within the sector's middle half▲ 10.5%€181,753within the sector's middle half▲ 3.6%€182,062within the sector's middle half▲ 0.2%
Total assets€613,504within the sector's middle half▲ 16.6%€560,999within the sector's middle half▼ 8.6%€569,441within the sector's middle half▲ 1.5%€556,557within the sector's middle half▼ 2.3%€653,987within the sector's middle half▲ 17.5%
Debt€465,650▲ 14.5%€402,252▼ 13.6%€394,000▼ 2.1%€374,804▼ 4.9%€471,925▲ 25.9%
Working capital€80,469▲ 17.7%€81,179▲ 0.9%€86,765▲ 6.9%€77,186▼ 11.0%€45,703▼ 40.8%
Solvency24.1%within the sector's middle half▼ 0.8pp28.3%within the sector's middle half▲ 4.2pp30.8%within the sector's middle half▲ 2.5pp32.7%within the sector's middle half▲ 1.8pp27.8%within the sector's middle half▼ 4.8pp
Staff (FTE)2.5within the sector's middle half▼ 7.4%2.6within the sector's middle half▲ 4.0%2.6within the sector's middle half=2.6within the sector's middle half=2.6within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 25% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €653,987
Fixed assets
€191,976 ▲ 14.7%
Current assets
€462,011 ▲ 18.7%
Equity and liabilities €653,987
Equity
€182,062 ▲ 0.2%
Debt
€471,925 ▲ 25.9%
Debt's share of the balance-sheet total rises from 67.3% to 72.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€213,124▲
2024 · €170,516
Cash flow
€130,220▲
2024 · €96,341
Current ratio
1.11▼
2024 · 1.25
Quick ratio
0.68▼
2024 · 0.76
Debt to equity
2.59▲
2024 · 2.06
ROE
66.1%▲
2024 · 48.5%
ROA
18.4%▲
2024 · 15.8%
Interest coverage
4.74▲
2024 · 3.61
Debt ≤ 1 year
€416,308▲
2024 · €312,071
Debt > 1 year
€55,389▼
2024 · €62,694
Income taxes
€40,973▲
2024 · €31,508
Staff costs
€209,741▲
2024 · €208,767
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,811 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,811 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €149,929 | €187,120 | €195,504 | €208,767 | €209,741 | ▲ 0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,145 | €7,927 | €7,938 | €8,169 | €9,912 | ▲ 21.3% |
| Other operating charges640/8 | €1,655 | €1,582 | €29,746 | €2,228 | €1,794 | ▼ 19.5% |
| Gross operating margin9900 | €268,972 | €275,375 | €323,793 | €381,512 | €424,659 | ▲ 11.3% |
| Operating profit (loss)9901 | €88,243 | €78,745 | €90,605 | €162,347 | €203,212 | ▲ 25.2% |
| Financial income75/76B | €4,337 | €4,202 | €3,703 | €4,513 | €3,007 | ▼ 33.4% |
| Recurring financial income75 | €4,337 | €4,202 | €3,703 | €4,513 | €3,007 | ▼ 33.4% |
| Financial charges65/66B | €42,054 | €40,800 | €43,465 | €47,179 | €44,938 | ▼ 4.8% |
| Recurring financial charges65 | €42,054 | €40,800 | €43,465 | €47,179 | €44,938 | ▼ 4.8% |
| Profit (loss) for the period before taxes9903 | €50,527 | €42,147 | €50,842 | €119,681 | €161,282 | ▲ 34.8% |
| Income taxes67/77 | €13,871 | €11,254 | €14,148 | €31,508 | €40,973 | ▲ 30.0% |
| Profit (loss) for the period9904 | €36,656 | €30,893 | €36,694 | €88,172 | €120,309 | ▲ 36.4% |
| Profit (loss) for the period to be appropriated9905 | €36,656 | €30,893 | €36,694 | €88,172 | €120,309 | ▲ 36.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €613,504 | €560,999 | €569,441 | €556,557 | €653,987 | ▲ 17.5% |
| Fixed assets21/28 | €183,108 | €180,087 | €172,149 | €167,300 | €191,976 | ▲ 14.7% |
| Tangible fixed assets22/27 | €183,108 | €180,087 | €172,149 | €167,300 | €191,976 | ▲ 14.7% |
| Land and buildings22 | €180,500 | €173,750 | €167,000 | €160,250 | €172,850 | ▲ 7.9% |
| Plant, machinery and equipment23 | €2,608 | €6,337 | €5,149 | €7,050 | €19,126 | ▲ 171% |
| Current assets29/58 | €430,395 | €380,912 | €397,292 | €389,257 | €462,011 | ▲ 18.7% |
| Stocks and contracts in progress3 | €171,039 | €146,519 | €150,004 | €153,496 | €178,047 | ▲ 16.0% |
| Stocks30/36 | €171,039 | €146,519 | €150,004 | €153,496 | €178,047 | ▲ 16.0% |
| Amounts receivable within one year40/41 | €102,221 | €131,959 | €157,840 | €169,937 | €179,945 | ▲ 5.9% |
| Trade receivables40 | €94,958 | €117,824 | €138,076 | €167,093 | €177,322 | ▲ 6.1% |
| Other amounts receivable41 | €7,263 | €14,135 | €19,764 | €2,844 | €2,624 | ▼ 7.8% |
| Current investments50/53 | €80,133 | €133 | €45,133 | €18 | €17,649 | ▲ 97,300% |
| Cash at bank and in hand54/58 | €71,779 | €100,128 | €42,510 | €63,574 | €82,912 | ▲ 30.4% |
| Deferred charges and accrued income490/1 | €5,222 | €2,173 | €1,805 | €2,231 | €3,458 | ▲ 55.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €613,504 | €560,999 | €569,441 | €556,557 | €653,987 | ▲ 17.5% |
| Equity10/15 | €147,854 | €158,747 | €175,441 | €181,753 | €182,062 | ▲ 0.2% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €141,654 | €152,547 | €169,241 | €175,553 | €175,862 | ▲ 0.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €139,794 | €150,687 | €169,241 | €175,553 | €175,862 | ▲ 0.2% |
| Amounts payable17/49 | €465,650 | €402,252 | €394,000 | €374,804 | €471,925 | ▲ 25.9% |
| Amounts payable after more than one year17 | €115,723 | €102,519 | €82,907 | €62,694 | €55,389 | ▼ 11.7% |
| Financial debts170/4 | €115,723 | €102,519 | €82,907 | €62,694 | €55,389 | ▼ 11.7% |
| Amounts payable within one year42/48 | €349,927 | €299,733 | €310,527 | €312,071 | €416,308 | ▲ 33.4% |
| Current portion of amounts payable after more than one year42 | €37,894 | €19,027 | €19,611 | €20,214 | €24,076 | ▲ 19.1% |
| Financial debts43 | - | €5,016 | €17,080 | €17,474 | €23,428 | ▲ 34.1% |
| Credit institutions430/8 | - | €5,016 | €17,080 | €17,474 | €23,428 | ▲ 34.1% |
| Trade debts44 | €243,766 | €188,218 | €181,865 | €118,830 | €133,327 | ▲ 12.2% |
| Suppliers440/4 | €243,766 | €188,218 | €181,865 | €118,830 | €133,327 | ▲ 12.2% |
| Taxes, remuneration and social security45 | €15,651 | €29,143 | €30,540 | €24,162 | €25,846 | ▲ 7.0% |
| Taxes450/3 | €76 | €12 | €1 | €14 | €933 | ▲ 6,534% |
| Remuneration and social security454/9 | €15,575 | €29,131 | €30,539 | €24,148 | €24,913 | ▲ 3.2% |
| Other amounts payable47/48 | €52,615 | €58,330 | €61,430 | €131,390 | €209,630 | ▲ 59.5% |
| Accrued charges and deferred income492/3 | - | - | €566 | €40 | €228 | ▲ 470% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,656 | €30,893 | €36,694 | €88,172 | €120,309 | ▲ 36.4% |
| + Depreciation and write-downs630 | €29,145 | €7,927 | €7,938 | €8,169 | €9,912 | ▲ 21.3% |
| Operating cash flow (approximation) | €65,801 | €38,821 | €44,632 | €96,341 | €130,220 | ▲ 35.2% |
| Investment in fixed assets (approximation) | - | -€4,906 | €0 | -€3,320 | -€34,587 | ▼ 942% |
| Change in cash | - | €28,348 | -€57,617 | €21,064 | €19,337 | ▼ 8.2% |
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
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €120,309 ▲36.4%
Operating result €203,212, net result €120,309, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 20 days late
2022
31-12
Financial
Equity above €150,000Eq €158,747 ▲7.4%
5 profitable years in a row build equity to €158,747.
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 19 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €29,846 ▼6.2%
Net result drops to €29,846, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Kontich · 1 establishment unit since 2005
Ground area
758 m²
Building footprint
306 m²
Volume, LiDAR
1,962 m³
Parcel 11602C0123/00H003, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KAPELFARMA
since 20052.146.339.190
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11602C0123/00H003 | Flanders | 758 m² | 1 · 306 m² | 10.3 m · 2 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.
Structure & network
Owners and holdings
2 ownersOwners 2
-
50%
-
50%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of KAPELFARMA and those 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKontich2.146.339.190
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DUGO
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BOGEST
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,860. 3,579 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-03-2005
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
47750Retail sale of cosmetics and toilet articles
Contact
Phone
011/702080Kontich
E-invoicing
Reachable via Peppol
Peppol ID
0208:0872471745
Also
9925:BE0872471745
Registered
24-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.