KAPPASI
ActiveSummary
KAPPASI has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51,512 and a net result of -€6,585. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 79% of 4695 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▲+58
Solvency90▲+10
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.72 in 2024; short-term debt: 35.2% and cash: 21.1% of total assets), and 35.2% of the assets are financed with debt.
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Signals
Four 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
64.8%
Return on assets
-8.3%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€6,585
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-08-2026, 15 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
15 d late
2024
5 d late
2023
1 d late
2022
31 d late
2021
45 d early
2020
39 d early
2019
38 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 10 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 48% 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, micro schema
In the rankings
#9 oldest company in Lochristi, Other services sector
Equity
€51,512▼ 11.3%
2024 · €58,097
Total assets
€79,439▼ 24.2%
2024 · €104,856
Net result
-€6,585▲ 57.6%
2024 · -€15,530
Working capital
€13,358▼ 55.6%
2024 · €30,078
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service activities, 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€18,927▲ 135%€577▼ 96.9%-€7,432-€13,300▼ 79.0%-€4,834▲ 63.7%
Net result€13,747within the sector's middle half▲ 99.3%-€614within the sector's middle half-€9,088below the sector's middle half▼ 1,380%-€15,530below the sector's middle half▼ 70.9%-€6,585below the sector's middle half▲ 57.6%
Equity€83,330within the sector's middle half▲ 19.8%€82,715above the sector's middle half▼ 0.7%€73,627above the sector's middle half▼ 11.0%€58,097within the sector's middle half▼ 21.1%€51,512within the sector's middle half▼ 11.3%
Total assets€101,456below the sector's middle half▲ 31.6%€112,794within the sector's middle half▲ 11.2%€130,613within the sector's middle half▲ 15.8%€104,856within the sector's middle half▼ 19.7%€79,439within the sector's middle half▼ 24.2%
Debt€18,126▲ 141%€30,079▲ 65.9%€56,986▲ 89.5%€46,759▼ 17.9%€27,927▼ 40.3%
Working capital€82,405▲ 21.3%€82,505▲ 0.1%€47,958▼ 41.9%€30,078▼ 37.3%€13,358▼ 55.6%
Solvency82.1%above the sector's middle half▼ 8.1pp73.3%above the sector's middle half▼ 8.8pp56.4%within the sector's middle half▼ 17.0pp55.4%within the sector's middle half▼ 1.0pp64.8%above the sector's middle half▲ 9.4pp
Staff (FTE)3.1within the sector's middle half=3▼ 3.2%2.4▼ 20.0%2.5▲ 4.2%2.7▲ 8.0%
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,834 in 2025 against €13,300 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €79,439
Fixed assets
€38,154 ▲ 16.0%
Current assets
€41,285 ▼ 42.6%
Equity and liabilities €79,439
Equity
€51,512 ▼ 11.3%
Debt
€27,927 ▼ 40.3%
Debt's share of the balance-sheet total falls from 44.6% to 35.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€5,306▲
2024 · -€4,330
Cash flow
€3,554▲
2024 · -€6,561
Current ratio
1.48▼
2024 · 1.72
Quick ratio
0.93▼
2024 · 1.34
Debt to equity
0.54▼
2024 · 0.80
ROE
-12.8%▲
2024 · -26.7%
ROA
-8.3%▲
2024 · -14.8%
Interest coverage
6.07▲
2024 · -3.17
Debt ≤ 1 year
€27,927▼
2024 · €41,884
Income taxes
€897▼
2024 · €910
Staff costs
€64,437▼
2024 · €116,308
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% 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 12,304 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 | €68,765 | €114,355 | €115,924 | €116,308 | €64,437 | ▼ 44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,853 | €714 | €5,450 | €8,969 | €10,140 | ▲ 13.0% |
| Other operating charges640/8 | €1,416 | €1,322 | €3,857 | €4,072 | €3,113 | ▼ 23.6% |
| Gross operating margin9900 | €94,961 | €116,968 | €117,799 | €116,050 | €72,856 | ▼ 37.2% |
| Operating profit (loss)9901 | €18,927 | €577 | -€7,432 | -€13,300 | -€4,834 | ▲ 63.7% |
| Financial income75/76B | - | - | €10 | €48 | €19 | ▼ 59.8% |
| Recurring financial income75 | - | - | €10 | €48 | €19 | ▼ 59.8% |
| Financial charges65/66B | €847 | €1,042 | €1,198 | €1,368 | €874 | ▼ 36.1% |
| Recurring financial charges65 | €847 | €980 | €1,198 | €1,368 | €874 | ▼ 36.1% |
| Non-recurring financial charges66B | - | €62 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €18,079 | -€465 | -€8,619 | -€14,620 | -€5,689 | ▲ 61.1% |
| Income taxes67/77 | €4,332 | €149 | €469 | €910 | €897 | ▼ 1.5% |
| Profit (loss) for the period9904 | €13,747 | -€614 | -€9,088 | -€15,530 | -€6,585 | ▲ 57.6% |
| Profit (loss) for the period to be appropriated9905 | €13,747 | -€614 | -€9,088 | -€15,530 | -€6,585 | ▲ 57.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €101,456 | €112,794 | €130,613 | €104,856 | €79,439 | ▼ 24.2% |
| Fixed assets21/28 | €924 | €211 | €41,864 | €32,895 | €38,154 | ▲ 16.0% |
| Tangible fixed assets22/27 | €924 | €211 | €41,864 | €32,895 | €38,154 | ▲ 16.0% |
| Plant, machinery and equipment23 | €924 | €211 | €8,539 | €7,374 | €20,438 | ▲ 177% |
| Furniture and vehicles24 | - | - | €33,325 | €25,521 | €17,716 | ▼ 30.6% |
| Current assets29/58 | €100,532 | €112,584 | €88,749 | €71,961 | €41,285 | ▼ 42.6% |
| Stocks and contracts in progress3 | €15,451 | €12,231 | €14,709 | €15,850 | €15,408 | ▼ 2.8% |
| Stocks30/36 | €15,451 | €12,231 | €14,709 | €15,850 | €15,408 | ▼ 2.8% |
| Amounts receivable within one year40/41 | €19,999 | €14,572 | €23,245 | €31,317 | €4,759 | ▼ 84.8% |
| Trade receivables40 | €8,195 | - | €1,797 | €1,951 | €1,275 | ▼ 34.7% |
| Other amounts receivable41 | €11,804 | €14,572 | €21,448 | €29,365 | €3,484 | ▼ 88.1% |
| Current investments50/53 | €5,098 | €5,077 | €139 | €130 | - | - |
| Cash at bank and in hand54/58 | €57,679 | €78,270 | €46,047 | €20,521 | €16,786 | ▼ 18.2% |
| Deferred charges and accrued income490/1 | €2,305 | €2,434 | €4,609 | €4,143 | €4,332 | ▲ 4.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €101,456 | €112,794 | €130,613 | €104,856 | €79,439 | ▼ 24.2% |
| Equity10/15 | €83,330 | €82,715 | €73,627 | €58,097 | €51,512 | ▼ 11.3% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €53,330 | €52,715 | €52,715 | €27,000 | €17,000 | ▼ 37.0% |
| Non-distributable reserves130/1 | €3,000 | €3,000 | - | - | - | - |
| Reserves not available under the articles1311 | €3,000 | €3,000 | - | - | - | - |
| Distributable reserves133 | €50,330 | €49,715 | €52,715 | €27,000 | €17,000 | ▼ 37.0% |
| Profit (loss) carried forward14 | - | - | -€9,088 | €1,097 | €4,512 | ▲ 311% |
| Amounts payable17/49 | €18,126 | €30,079 | €56,986 | €46,759 | €27,927 | ▼ 40.3% |
| Amounts payable after more than one year17 | - | - | €16,195 | €4,876 | - | - |
| Financial debts170/4 | - | - | €16,195 | €4,876 | - | - |
| Amounts payable within one year42/48 | €18,126 | €30,079 | €40,791 | €41,884 | €27,927 | ▼ 33.3% |
| Current portion of amounts payable after more than one year42 | - | - | €10,797 | €11,319 | €4,876 | ▼ 56.9% |
| Trade debts44 | €415 | €745 | €7,047 | €3,413 | €3,406 | ▼ 0.2% |
| Suppliers440/4 | €415 | €745 | €7,047 | €3,413 | €3,406 | ▼ 0.2% |
| Taxes, remuneration and social security45 | €17,712 | €29,334 | €22,946 | €26,126 | €16,049 | ▼ 38.6% |
| Taxes450/3 | €8,013 | €8,804 | €7,910 | €10,944 | €8,444 | ▼ 22.8% |
| Remuneration and social security454/9 | €9,699 | €20,529 | €15,037 | €15,182 | €7,605 | ▼ 49.9% |
| Other amounts payable47/48 | - | - | - | €1,025 | €3,596 | ▲ 251% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,747 | -€614 | -€9,088 | -€15,530 | -€6,585 | ▲ 57.6% |
| + Depreciation and write-downs630 | €5,853 | €714 | €5,450 | €8,969 | €10,140 | ▲ 13.0% |
| Operating cash flow (approximation) | €19,600 | €100 | -€3,638 | -€6,561 | €3,554 | ▲ 154% |
| Investment in fixed assets (approximation) | - | €0 | -€47,104 | €0 | -€15,399 | - |
| Change in cash | - | €20,591 | -€32,223 | -€25,526 | -€3,735 | ▲ 85.4% |
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
15-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 15 days late
2025
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
31-12
Financial
Weakest financial yearnet -€15,530
Net result drops to -€15,530, the lowest in the series; recovery starts the following year.
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €13,747 ▲99.3%
Operating result €18,927, net result €13,747, both a record.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity doublescurrent ratio 10.03
Current ratio from 4.74 to 10.03; short-term debt falls from €15,596 to €7,523.
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-06
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.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Lochristi · 1 establishment unit since 2002
Ground area
518 m²
Building footprint
101 m²
Volume, LiDAR
805 m³
Parcel 44034A1120/00K000, Flanders · tallest building 14.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
KAPSALON PASCAL
since 20022.115.419.748
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44034A1120/00K000 | Flanders | 518 m² | 1 · 101 m² | 14.2 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Dual-learning approval
2 live approvals · 5 endedHaarverzorging duaal (so)
Kapper (vwo)
Show 5 ended approvals
Kapper-stylist duaal (so)
Haarverzorging duaal (so)
Kapper (so)
Kapper (vwo)
Kapper-salonverantwoordelijke (so)
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Of 21,734 companies in sector 96210 we hold annual accounts for 2,832. 2,108 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
Founded10-10-2002
Fiscal year end31-12
Activities, NACEBEL 2025
96210Hairdressing and barber services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478528813
Also
9925:BE0478528813
Registered
23-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.