KAPSALON ESSENTIALS
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00484962.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 17 filings
Turnover
≈ €81,000
Estimated: probably between €48,000 and €150,000
Total assets
€67,951▲ 24.3%
2024 · €54,667
Net result
€1,042▼ 89.9%
2024 · €10,364
Working capital
€5,735
2024 · -€905
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,525
▼ 67.6%
2025
20182025
Net result
€1,042
▼ 89.9%
2025
middle half of the sector
20182025
Equity
€16,463
▲ 6.8%
2025
middle half of the sector
20182025
Total assets
€67,951
▲ 24.3%
2025
middle half of the sector
20182025
Debt
€51,488
▲ 31.2%
2025
20182025
Working capital
€5,735
2025
middle half of the sector
20182025
Solvency
24.2%
▼ 4.0pp
2025
middle half of the sector
20182025
Current ratio
1.11
▲ 0.13
2025
middle half of the sector
20182025
Return on assets (ROA)
1.5%
▼ 17.4pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€5,795-€7,059-€24,451€7,460€8,978▲ 20.4%€6,037▼ 32.8%€17,068▲ 183%€5,525▼ 67.6%
Net result-€7,472-€5,600-€22,977below the sector's middle half€6,184within the sector's middle half€4,729within the sector's middle half▼ 23.5%€4,099within the sector's middle half▼ 13.3%€10,364within the sector's middle half▲ 153%€1,042within the sector's middle half▼ 89.9%
Equity€7,422-€13,022▲ 75.5%-€9,955below the sector's middle half-€3,771within the sector's middle half▲ 62.1%€958within the sector's middle half€5,057within the sector's middle half▲ 428%€15,420within the sector's middle half▲ 205%€16,463within the sector's middle half▲ 6.8%
Total assets€26,825-€33,741▲ 25.8%€29,999below the sector's middle half▼ 11.1%€22,089below the sector's middle half▼ 26.4%€43,354within the sector's middle half▲ 96.3%€38,355within the sector's middle half▼ 11.5%€54,667within the sector's middle half▲ 42.5%€67,951within the sector's middle half▲ 24.3%
Debt€5,404-€6,719▲ 24.3%€28,734▲ 328%€25,860▼ 10.0%€42,396▲ 63.9%€33,298▼ 21.5%€39,247▲ 17.9%€51,488▲ 31.2%
Working capital€21,422-€22,222▲ 3.7%-€3,117within the sector's middle half-€6,480within the sector's middle half▼ 108%-€30,692below the sector's middle half▼ 374%-€11,782within the sector's middle half▲ 61.6%-€905within the sector's middle half▲ 92.3%€5,735within the sector's middle half
Solvency27.7%-38.6%▲ 10.9pp-33.2%below the sector's middle half▼ 71.8pp-17.1%below the sector's middle half▲ 16.1pp2.2%within the sector's middle half▲ 19.3pp13.2%within the sector's middle half▲ 11.0pp28.2%within the sector's middle half▲ 15.0pp24.2%within the sector's middle half▼ 4.0pp
Current ratio4.96-4.31▼ 0.660.80within the sector's middle half▼ 3.500.59within the sector's middle half▼ 0.210.20below the sector's middle half▼ 0.390.53within the sector's middle half▲ 0.320.98within the sector's middle half▲ 0.451.11within the sector's middle half▲ 0.13
Return on assets (ROA)-27.9%-16.6%▲ 44.5pp-76.6%below the sector's middle half▼ 93.2pp28.0%above the sector's middle half▲ 104.6pp10.9%within the sector's middle half▼ 17.1pp10.7%within the sector's middle half▼ 0.2pp19.0%above the sector's middle half▲ 8.3pp1.5%within the sector's middle half▼ 17.4pp
Staff (FTE)0.2-0.2=0.6below the sector's middle half▲ 200%1▲ 66.7%1=1=0.9▼ 10.0%
above
within
below
The sector band is the middle half of the companies in Personal service activities (NACE 96). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 68% lower than in 2024 and the lowest since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €67,951
Fixed assets
€10,728 ▼ 34.3%
Current assets
€57,223 ▲ 49.2%
Equity and liabilities €67,951
Equity
€16,463 ▲ 6.8%
Debt
€51,488 ▲ 31.2%
Debt's share of the balance-sheet total rises from 71.8% to 75.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€11,123▼
2024 · €26,069
Cash flow
€6,639▼
2024 · €19,365
Quick ratio
0.94▲
2024 · 0.78
Debt to equity
3.13▲
2024 · 2.55
ROE
6.3%▼
2024 · 67.2%
Interest coverage
17.55▲
2024 · 14.51
Debt ≤ 1 year
€51,488▲
2024 · €39,247
Income taxes
€3,850▼
2024 · €4,910
Staff costs
€186▼
2024 · €1,132
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | - | - |
| part-time | 1 | 1 | 1 | - | - |
| in full-time equivalents | 0.3 | 0.3 | 0.3 | - | - |
| Average over the year, in full-time equivalents | 0.3 | 0.3 | 0.3 | 0.3 | - |
| On a permanent contract | 1 | 1 | 1 | - | - |
| Joined | - | - | - | 0 | 0 |
| Left | - | - | - | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €27,986 | - | - | - |
| Depreciation and write-downs of the year | €4,604 | €5,071 | €10,201 | €9,001 | €5,597 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €11,220 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €9,310 | €7,578 | €7,538 | €1,132 | €186 | ▼ 83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,200 | €4,604 | €4,604 | €5,071 | €10,201 | €9,001 | €5,597 | ▼ 37.8% |
| Other operating charges640/8 | - | - | - | €1,638 | €1,535 | €181 | €830 | €701 | ▼ 15.5% |
| Gross operating margin9900 | €14,976 | €12,019 | -€1,018 | €23,012 | €23,162 | €23,957 | €28,031 | €12,010 | ▼ 57.2% |
| Operating profit (loss)9901 | -€5,795 | €7,059 | -€24,451 | €7,460 | €8,978 | €6,037 | €17,068 | €5,525 | ▼ 67.6% |
| Financial income75/76B | - | - | - | - | €134 | €2 | €3 | €0 | ▼ 88.9% |
| Recurring financial income75 | - | €78 | €55 | - | €134 | €2 | €3 | €0 | ▼ 88.9% |
| Financial charges65/66B | - | - | - | €1,276 | €1,324 | €1,940 | €1,797 | €634 | ▼ 64.7% |
| Recurring financial charges65 | €492 | €54 | €1,360 | €1,276 | €1,324 | €1,940 | €1,797 | €634 | ▼ 64.7% |
| Profit (loss) for the period before taxes9903 | -€6,287 | €7,083 | -€22,977 | €6,184 | €7,788 | €4,099 | €15,274 | €4,892 | ▼ 68.0% |
| Income taxes67/77 | €1,185 | €1,483 | - | - | €3,059 | - | €4,910 | €3,850 | ▼ 21.6% |
| Profit (loss) for the period9904 | -€7,472 | €5,600 | -€22,977 | €6,184 | €4,729 | €4,099 | €10,364 | €1,042 | ▼ 89.9% |
| Profit (loss) for the period to be appropriated9905 | -€7,472 | -€1,400 | -€15,977 | €6,184 | €4,729 | €4,099 | €10,364 | €1,042 | ▼ 89.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €26,825 | €33,741 | €29,999 | €22,089 | €43,354 | €38,355 | €54,667 | €67,951 | ▲ 24.3% |
| Fixed assets21/28 | - | €4,800 | €17,217 | €12,613 | €35,528 | €25,326 | €16,325 | €10,728 | ▼ 34.3% |
| Tangible fixed assets22/27 | - | €4,800 | €17,217 | €12,613 | €35,528 | €25,326 | €16,325 | €10,728 | ▼ 34.3% |
| Furniture and vehicles24 | - | - | - | €1,010 | €28,192 | €22,259 | €16,325 | €10,728 | ▼ 34.3% |
| Other tangible fixed assets26 | - | - | - | €11,603 | €7,336 | €3,068 | - | - | - |
| Current assets29/58 | €26,825 | €28,941 | €12,782 | €9,476 | €7,826 | €13,028 | €38,342 | €57,223 | ▲ 49.2% |
| Stocks and contracts in progress3 | €7,162 | €6,805 | €12,085 | €6,538 | €4,612 | €8,045 | €7,808 | €8,780 | ▲ 12.4% |
| Stocks30/36 | - | - | - | €6,538 | €4,612 | €8,045 | €7,808 | €8,780 | ▲ 12.4% |
| Amounts receivable within one year40/41 | €11,632 | €5,345 | €314 | €94 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €94 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €8,031 | €16,790 | €383 | €2,843 | €1,598 | €2,860 | €28,248 | €46,963 | ▲ 66.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,616 | €2,123 | €2,286 | €1,480 | ▼ 35.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €26,825 | €33,741 | €29,999 | €22,089 | €43,354 | €38,355 | €54,667 | €67,951 | ▲ 24.3% |
| Equity10/15 | €7,422 | €13,022 | -€9,955 | -€3,771 | €958 | €5,057 | €15,420 | €16,463 | ▲ 6.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €18,600 | €18,600 | - | - |
| Other1109/19 | - | - | - | - | - | €18,600 | €18,600 | - | - |
| Reserves13 | €21,088 | €28,088 | €21,088 | €21,088 | €21,088 | €21,088 | €21,088 | €21,088 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €19,228 | €19,228 | €21,088 | €21,088 | €21,088 | = |
| Profit (loss) carried forward14 | -€32,266 | -€33,666 | -€49,643 | -€43,458 | -€38,730 | -€34,631 | -€24,267 | -€23,225 | ▲ 4.3% |
| Provisions and deferred taxes16 | €14,000 | €14,000 | €11,220 | - | - | - | - | - | - |
| Amounts payable17/49 | €5,404 | €6,719 | €28,734 | €25,860 | €42,396 | €33,298 | €39,247 | €51,488 | ▲ 31.2% |
| Amounts payable after more than one year17 | - | - | €12,836 | €9,903 | €3,878 | €8,488 | - | - | - |
| Financial debts170/4 | - | - | - | €9,903 | €3,878 | €8,488 | - | - | - |
| Amounts payable within one year42/48 | €5,404 | €6,719 | €15,899 | €15,956 | €38,518 | €24,810 | €39,247 | €51,488 | ▲ 31.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €3,040 | €10,423 | €8,488 | - | - |
| Trade debts44 | €2,472 | €2,929 | €8,686 | €136 | €21,336 | €3,074 | €764 | €176 | ▼ 77.0% |
| Suppliers440/4 | - | - | - | €136 | €21,336 | €3,074 | €764 | €176 | ▼ 77.0% |
| Taxes, remuneration and social security45 | - | - | - | €459 | €864 | €1,616 | €5,923 | €9,274 | ▲ 56.6% |
| Taxes450/3 | - | - | - | - | €864 | €1,616 | €5,923 | €9,274 | ▲ 56.6% |
| Remuneration and social security454/9 | - | - | - | €459 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €15,361 | €13,278 | €9,697 | €24,072 | €42,038 | ▲ 74.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,472 | €5,600 | -€22,977 | €6,184 | €4,729 | €4,099 | €10,364 | €1,042 | ▼ 89.9% |
| + Depreciation and write-downs630 | - | €1,200 | €4,604 | €4,604 | €5,071 | €10,201 | €9,001 | €5,597 | ▼ 37.8% |
| Operating cash flow (approximation) | -€7,472 | €6,800 | -€18,372 | €10,789 | €9,800 | €14,300 | €19,365 | €6,639 | ▼ 65.7% |
| Investment in fixed assets (approximation) | - | - | -€17,022 | €0 | -€27,986 | €0 | €0 | €0 | - |
| Change in cash | - | €8,759 | -€16,408 | €2,461 | -€1,245 | €1,262 | €25,389 | €18,715 | ▼ 26.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,508 companies had the same profile as KAPSALON ESSENTIALS has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.6%
stopped otherwise
1.4%
went bankrupt
The bankruptcy probability of KAPSALON ESSENTIALS itself is lower: 0.1% within 12 months. It rests on far more data about KAPSALON ESSENTIALS than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,508 companies, not a prediction for KAPSALON ESSENTIALS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-08-2026 | 2026-00484962 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00466610 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00412400 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00415536 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20406494 | |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-59600422 | |
| 31-12-2019 | abbreviated format | 31-08-2020 | 2020-48600162 | |
| 31-12-2018 | abbreviated format | 26-08-2019 | 2019-51100042 | |
| 31-12-2017 | abbreviated format | 24-08-2018 | 2018-50800473 | |
| 31-12-2016 | abbreviated format | 21-08-2017 | 2017-44900538 |