KAPKA
ActiveSummary
KAPKA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of €691,149. Equity is growing by ~16% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▲+11
Solvency84▼-16
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
Liquidity ample (current ratio 8.4 against 17.01 in 2024; short-term debt: 3.6% and cash: 16.5% of total assets), and 40.9% of the assets are financed with debt.
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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
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
59.1%
Return on assets
20.3%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
8 d early
2023
21 d early
2022
17 d early
2021
61 d early
2020
8 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 19 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 14 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€691,149▲ 621%
2024 · €95,920
Working capital
€909,747▲ 11.5%
2024 · €815,749
Trend over the years
In euros
In euros
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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€92,913▲ 19.2%€562,858▲ 506%€154,188▼ 72.6%€132,648▼ 14.0%€814,954▲ 514%
Net result€61,154▲ 24.1%€380,285▲ 522%€103,357▼ 72.8%€95,920▼ 7.2%€691,149▲ 621%
Equity€745,294▲ 5.6%€1.1m▲ 51.0%€1.2m▲ 9.2%€1.3m▲ 7.8%€2.0m▲ 52.2%
Total assets€1.2m▼ 2.8%€1.6m▲ 29.1%€1.4m▼ 10.9%€1.5m▲ 5.8%€3.4m▲ 128%
Debt€446,498▼ 13.5%€428,557▼ 4.0%€157,874▼ 63.2%€149,335▼ 5.4%€1.2m▲ 681%
Working capital€206,217▲ 47.8%€709,265▲ 244%€666,915▼ 6.0%€815,749▲ 22.3%€909,747▲ 11.5%
Staff (FTE)0
Why a figure moved sharply
- 2025 Net result +621% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 514% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.4m
Fixed assets
€2.4m ▲ 278%
Current assets
€1.0m ▲ 19.2%
Equity and liabilities €3.4m
Equity
€2.0m ▲ 52.2%
Provisions
€229,620 ▲ 911%
Debt
€1.2m ▲ 681%
Debt's share of the balance-sheet total rises from 10.0% to 34.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€952,736▲
2024 · €198,418
Cash flow
€828,931▲
2024 · €161,690
Current ratio
8.40▼
2024 · 17.01
Debt to equity
0.58▲
2024 · 0.11
ROE
34.3%▲
2024 · 7.2%
ROA
20.3%▲
2024 · 6.4%
Interest coverage
-8.75▼
2024 · 126.29
Debt ≤ 1 year
€123,016▲
2024 · €50,961
Debt > 1 year
€1.0m▲
2024 · €92,374
Income taxes
€32,877▼
2024 · €51,638
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,341 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% 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 20,134 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €433,020 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,614 | €73,583 | €71,384 | €65,770 | €137,782 | ▲ 109% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €130,000 | - |
| Other operating charges640/8 | €12,536 | €11,955 | €17,783 | €15,362 | €16,780 | ▲ 9.2% |
| Gross operating margin9900 | €191,064 | €648,396 | €243,355 | €213,780 | €1.1m | ▲ 414% |
| Operating profit (loss)9901 | €92,913 | €562,858 | €154,188 | €132,648 | €814,954 | ▲ 514% |
| Financial income75/76B | €71 | €4,256 | €2,275 | €11,569 | €7,057 | ▼ 39.0% |
| Recurring financial income75 | €71 | €4,256 | €2,275 | €11,569 | €7,057 | ▼ 39.0% |
| Financial charges65/66B | €3,858 | €4,487 | €2,918 | €1,571 | -€108,919 | ▼ 7,033% |
| Recurring financial charges65 | €3,858 | €4,487 | €2,918 | €1,571 | -€108,919 | ▼ 7,033% |
| Profit (loss) for the period before taxes9903 | €89,126 | €562,627 | €153,545 | €142,645 | €930,930 | ▲ 553% |
| Transfer from deferred taxes780 | €4,912 | €4,912 | €4,912 | €4,912 | €8,307 | ▲ 69.1% |
| Transfer to deferred taxes680 | - | - | - | - | €215,211 | - |
| Income taxes67/77 | €32,884 | €187,254 | €55,100 | €51,638 | €32,877 | ▼ 36.3% |
| Profit (loss) for the period9904 | €61,154 | €380,285 | €103,357 | €95,920 | €691,149 | ▲ 621% |
| Transfer from tax-exempt reserves789 | €14,737 | €14,737 | €14,737 | €14,737 | €24,921 | ▲ 69.1% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €645,632 | - |
| Profit (loss) for the period to be appropriated9905 | €75,891 | €395,022 | €118,093 | €110,656 | €70,438 | ▼ 36.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.6m | €1.4m | €1.5m | €3.4m | ▲ 128% |
| Fixed assets21/28 | €935,618 | €760,554 | €695,967 | €630,197 | €2.4m | ▲ 278% |
| Intangible fixed assets21 | €7,260 | - | - | - | - | - |
| Tangible fixed assets22/27 | €928,358 | €760,554 | €695,967 | €630,197 | €2.4m | ▲ 278% |
| Land and buildings22 | €928,358 | €760,554 | €694,380 | €629,193 | €2.4m | ▲ 278% |
| Furniture and vehicles24 | - | - | €1,588 | €1,005 | €422 | ▼ 58.0% |
| Current assets29/58 | €293,627 | €826,123 | €718,472 | €866,710 | €1.0m | ▲ 19.2% |
| Amounts receivable within one year40/41 | €8,286 | €5,444 | €14,908 | €43,744 | €228,391 | ▲ 422% |
| Trade receivables40 | - | - | - | €620 | €0 | ▼ 100% |
| Other amounts receivable41 | €8,286 | €5,444 | €14,908 | €43,124 | €228,391 | ▲ 430% |
| Current investments50/53 | - | €717,000 | €616,984 | €238,505 | €238,505 | = |
| Cash at bank and in hand54/58 | €282,220 | €100,300 | €80,814 | €580,857 | €562,894 | ▼ 3.1% |
| Deferred charges and accrued income490/1 | €3,121 | €3,379 | €5,766 | €3,603 | €2,973 | ▼ 17.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.6m | €1.4m | €1.5m | €3.4m | ▲ 128% |
| Equity10/15 | €745,294 | €1.1m | €1.2m | €1.3m | €2.0m | ▲ 52.2% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €682,327 | €1.1m | €1.2m | €1.3m | €2.0m | ▲ 54.8% |
| Non-distributable reserves130/1 | €6,321 | €6,321 | €6,321 | €6,321 | €6,321 | = |
| Legal reserve130 | €6,321 | €6,321 | €6,321 | €6,321 | €6,321 | = |
| Tax-exempt reserves132 | €112,358 | €97,622 | €82,885 | €68,149 | €688,860 | ▲ 911% |
| Distributable reserves133 | €563,647 | €958,669 | €1.1m | €1.2m | €1.3m | ▲ 5.9% |
| Profit (loss) carried forward14 | €994 | €994 | €1,088 | €1,144 | €1,144 | = |
| Provisions and deferred taxes16 | €37,453 | €32,541 | €27,628 | €22,716 | €229,620 | ▲ 911% |
| Deferred taxes168 | €37,453 | €32,541 | €27,628 | €22,716 | €229,620 | ▲ 911% |
| Amounts payable17/49 | €446,498 | €428,557 | €157,874 | €149,335 | €1.2m | ▲ 681% |
| Amounts payable after more than one year17 | €359,088 | €311,699 | €106,317 | €92,374 | €1.0m | ▲ 1,004% |
| Financial debts170/4 | €359,088 | €311,699 | €106,317 | €92,374 | €947,153 | ▲ 925% |
| Other amounts payable178/9 | - | - | - | - | €72,500 | - |
| Amounts payable within one year42/48 | €87,409 | €116,857 | €51,557 | €50,961 | €123,016 | ▲ 141% |
| Current portion of amounts payable after more than one year42 | €47,734 | €47,735 | €13,770 | €13,943 | €102,217 | ▲ 633% |
| Trade debts44 | €922 | €6,683 | €22,626 | €14,198 | €6,370 | ▼ 55.1% |
| Suppliers440/4 | €922 | €6,683 | €22,626 | €14,198 | €6,370 | ▼ 55.1% |
| Taxes, remuneration and social security45 | €2,811 | €45,335 | €0 | €7,699 | €0 | ▼ 100% |
| Taxes450/3 | €2,811 | €45,335 | €0 | €7,699 | €0 | ▼ 100% |
| Other amounts payable47/48 | €35,942 | €17,104 | €15,161 | €15,121 | €14,428 | ▼ 4.6% |
| Accrued charges and deferred income492/3 | - | - | - | €6,000 | €24,167 | ▲ 303% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,154 | €380,285 | €103,357 | €95,920 | €691,149 | ▲ 621% |
| + Depreciation and write-downs630 | €85,614 | €73,583 | €71,384 | €65,770 | €137,782 | ▲ 109% |
| Operating cash flow (approximation) | €146,769 | €453,868 | €174,741 | €161,690 | €828,931 | ▲ 413% |
| Investment in fixed assets (approximation) | - | €101,481 | -€6,797 | €0 | -€1.9m | - |
| Change in cash | - | -€181,921 | -€19,486 | €500,043 | -€17,963 | ▼ 104% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €691,149 ▲621%
Operating result €814,954, net result €691,149, both a record.
31-12
Financial
Equity above €2mEq €2.0m ▲52.2%
8 profitable years in a row build equity to €2.0m.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity doublescurrent ratio 7.07
Current ratio from 3.36 to 7.07.
31-12
Financial
Equity above €1mEq €1.1m ▲51%
5 profitable years in a row build equity to €1.1m.
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €28,473 ▼94.4%
Net result drops to €28,473, the lowest in the series; recovery starts the following year.
Show earlier events
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
No directors read yet: 0 of 8 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Oosterzele · 1 establishment unit since 1989
Ground area
268 m²
Building footprint
135 m²
Volume, LiDAR
943 m³
Parcel 44046A0201/00D000, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Kapka
since 19892.044.968.945
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44046A0201/00D000 | Flanders | 268 m² | 1 · 135 m² | 10.7 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Company details
Identification
Legal formPublic limited company
Founded21-06-1989
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437782477
Also
9925:BE0437782477
Registered
28-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.