Kapitan
ActiveKapitan has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €119k and a net result of €-84k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 33% of 1633 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
45
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-77
Solvency49▼-9
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.33 against 0.76 in 2024; short-term debt: 38% and cash: 0.1% of total assets), and 75.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
24.1%
Return on assets
-17%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 20-01-2026, 100 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
100 d early
2024
33 d early
2023
on the day
2022
9 d early
2021
5 d early
2020
21 d early
2019
10 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€119k▼ 41.3%
2024 · €204k
2018: €36k
2019: €-7k
2020: €-4k
2021: €-50k
2022: €-5k
2023: €-32k
2024: €204k
2018 → 2025
Total assets
€496k▼ 20.1%
2024 · €620k
2018: €635k
2019: €623k
2020: €561k
2021: €453k
2022: €472k
2023: €419k
2024: €620k
2018 → 2025
Net result
€-84k
2024 · €39k
2018: €16k
2019: €-43k
2020: €-3k
2021: €-46k
2022: €45k
2023: €-28k
2024: €39k
2018 → 2025
Working capital
€-126k▼ 156%
2024 · €-49k
2018: €-3k
2019: €-28k
2020: €-57k
2021: €-112k
2022: €-65k
2023: €-92k
2024: €-49k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-50k-€-5k▲ 90.9%€-32k▼ 615%€204k€119k▼ 41.3%
Operating result€-36k-€58k€-16k€63k€-72k
Net result€-46k-€45k€-28k€39k€-84k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €72k after €63k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €496k
Fixed assets
€433k▼ 6.2%
Current assets
€63k▼ 60.6%
Equity and liabilities €496k
Equity
€119k▼ 41.3%
Debt
€376k▼ 9.7%
The debt ratio rises from 67.2% to 75.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-44k▼
2024 · €87k
Cash flow
€-56k▼
2024 · €62k
Solvency
24.1%▼
2024 · 32.8%
Current ratio
0.33▼
2024 · 0.76
Quick ratio
0.17▼
2024 · 0.58
Debt / equity
3.15▲
2024 · 2.05
ROE
-70.4%▼
2024 · 19.0%
ROA
-17.0%▼
2024 · 6.2%
Interest coverage
-3.36▼
2024 · 6.54
Debt
€376k▼
2024 · €417k
Debt ≤ 1 year
€189k▼
2024 · €208k
Debt > 1 year
€188k▼
2024 · €207k
Income taxes
€1k▼
2024 · €11k
Staff costs
€233k▼
2024 · €236k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€620k€496k▼
Fixed assets21/28€462k€433k▼
Tangible fixed assets22/27€460k€431k▼
Land and buildings22€458k€431k▼
Plant, machinery and equipment23€926€617▼
Furniture and vehicles24€490€197▼
Financial fixed assets28€2k€2k▼
Current assets29/58€159k€63k▼
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Stocks and contracts in progress3€39k€31k▼
Contracts in progress37€39k€31k▼
Amounts receivable within one year40/41€111k€28k▼
Trade receivables40€104k€21k▼
Other amounts receivable41€7k€7k▲
Cash at bank and in hand54/58€5k€490▼
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€620k€496k▼
Equity10/15€204k€119k▼
Contributions10/11€12k€12k=
Revaluation surpluses12€194k€194k=
Reserves13€19k€19k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132€19k€19k=
Profit (loss) carried forward14€-21k€-105k▼
Amounts payable17/49€417k€376k▼
Amounts payable after more than one year17€207k€188k▼
Financial debts170/4€207k€188k▼
Amounts payable within one year42/48€208k€189k▼
Current portion of amounts payable after more than one year42€20k€20k=
Financial debts43€75k€92k▲
Credit institutions430/8€75k€92k▲
Trade debts44€49k€42k▼
Suppliers440/4€49k€42k▼
Taxes, remuneration and social security45€62k€33k▼
Taxes450/3€30k€20k▼
Remuneration and social security454/9€32k€14k▼
Other amounts payable47/48€1k€1k▲
Accrued charges and deferred income492/3€2k€154▼
Income statement
Code20242025
Remuneration, social security and pensions62€236k€233k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€28k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-2k€0▲
Other operating charges640/8€12k€5k▼
Gross operating margin9900€333k€194k▼
Operating profit (loss)9901€63k€-72k▼
Financial income75/76B€2€2k▲
Recurring financial income75€2€2k▲
Financial charges65/66B€13k€13k▼
Recurring financial charges65€13k€13k▼
Profit (loss) for the period before taxes9903€50k€-83k▼
Income taxes67/77€11k€1k▼
Profit (loss) for the period9904€39k€-84k▼
Profit (loss) for the period to be appropriated9905€39k€-84k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-27k€-105k▼
Profit (loss) brought forward from the previous period14P€-65k€-21k▲
Transfer from equity791/2€6k€0▼
Social balance
Average headcount (FTE)90873.02.5▼
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet €-84k ▼317%
Net result drops to €-84k, the lowest in the series.
28-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Back to profitnet €39k
Net result €39k after one loss-making year.
30-09
Financial
Equity above €200kEq €204k
Equity rises from €-32k to €204k.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Back to profitnet €45k
Net result €45k after 3 loss-making years.
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
20-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2020
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
18-09-2020
SANCHO PANZA: Resigned as Director
01-08-2019
Deploige Yves: Resigned as Manager
01-08-2019
Evens Guido: Resigned as Manager
28-02-2019
ROUMA David: Resigned as Manager
01-10-2012
Carina Lopez Plantaz: Resigned as Manager
Location & real-estate footprint
Registered office, Alken · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bulsstraat 873570 AlkenGround area
801 m²
Building footprint
121 m²
Volume, LiDAR
940 m³
Parcel 73302E0181/00K000, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Kapitan
since 20102.193.039.643
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73302E0181/00K000 | Flanders | 801 m² | 1 · 121 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
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.
Structure & network
Connections & network
2 connected companiesNetwork connections
Shared address
→
Shared address
→
Similar companies · same sector, comparable size
CO.PRINT.CO
BE 0629.964.223
Pecq · Eq €119k
DVSU
BE 0898.630.170
Grâce-Hollogne · Eq €119k
INTERTECHNIEK INTERNATIONAL
BE 0829.460.361
Herentals · Eq €119k
INVEST IDEAS
BE 0862.474.213
Waterloo · Eq €120k
COMPU-SIGN - STEVE DHONDT
BE 0828.893.803
Waasmunster · Eq €119k
Of 9,862 companies in sector 73110 we hold annual accounts for 3,755. 3,004 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-10-2010
Fiscal year end30-09
Activities, NACEBEL
73110Advertising agencies
74109Other professional, scientific and technical activities
74140Other specialised design activities
18130Pre-press and pre-media services
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
74201Photography, excluding press photography
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:guido@kapitan.be