KPEX
ActiveSummary
KPEX has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €861k and a net result of €-109k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 83% of 1648 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability6▼-73
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 4.48 against 5.41 in 2024; short-term debt: 6.6% and cash: 27.5% of total assets), and 19% of the assets are financed with debt.
Credit check for your own amount and term
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
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
81%
Return on assets
-10.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
29 d late
2023
27 d late
2022
31 d late
2021
52 d early
2020
67 d early
2019
5 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€861k▼ 11.2%
2024 · €969k
2019: €735klowest in 7 years
2020: €1.01M▲ +37.5% vs 2019highest in 7 years
2021: €953k▼ -5.7% vs 2020
2022: €908k▼ -4.7% vs 2021
2023: €853k▼ -6.1% vs 2022
2024: €969k▲ +13.7% vs 2023
2025: €861k▼ -11.2% vs 2024
2019 → 2025
Total assets
€1.06M▼ 16.9%
2024 · €1.28M
2019: €1.04M
2020: €1.23M▲ +17.6% vs 2019
2021: €1.06M▼ -13.7% vs 2020
2022: €971k▼ -8.4% vs 2021lowest in 7 years
2023: €1.10M▲ +13.5% vs 2022
2024: €1.28M▲ +16.0% vs 2023highest in 7 years
2025: €1.06M▼ -16.9% vs 2024
2019 → 2025
Net result
€-109k
2024 · €103k
2019: €344khighest in 7 years
2020: €310k▼ -9.9% vs 2019
2021: €-57k▼ -119% vs 2020
2022: €-27k▲ +53.6% vs 2021
2023: €-55k▼ -107% vs 2022
2024: €103k▲ +287% vs 2023
2025: €-109k▼ -205% vs 2024lowest in 7 years
2019 → 2025
Working capital
€243k▼ 37.1%
2024 · €386k
2019: €171klowest in 7 years
2020: €463k▲ +170% vs 2019highest in 7 years
2021: €417k▼ -9.9% vs 2020
2022: €364k▼ -12.7% vs 2021
2023: €246k▼ -32.4% vs 2022
2024: €386k▲ +57.0% vs 2023
2025: €243k▼ -37.1% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€953k-€908k▼ 4.7%€853k▼ 6.1%€969k▲ 13.7%€861k▼ 11.2%
2021: €953k
2022: €908k▼ -4.7% vs 2021
2023: €853k▼ -6.1% vs 2022lowest in 5 years
2024: €969k▲ +13.7% vs 2023highest in 5 years
2025: €861k▼ -11.2% vs 2024
Operating result€-25k-€-1k▲ 95.3%€-45k▼ 3,810%€174k€-94k
2021: €-25k
2022: €-1k▲ +95.3% vs 2021
2023: €-45k▼ -3810% vs 2022
2024: €174k▲ +483% vs 2023highest in 5 years
2025: €-94k▼ -154% vs 2024lowest in 5 years
Net result€-57k-€-27k▲ 53.6%€-55k▼ 107%€103k€-109k
2021: €-57k
2022: €-27k▲ +53.6% vs 2021
2023: €-55k▼ -107% vs 2022
2024: €103k▲ +287% vs 2023highest in 5 years
2025: €-109k▼ -205% vs 2024lowest in 5 years
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 turns negative in 2025: a loss of €94k after €174k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.06M
Fixed assets
€750k ▼ 6.8%
Current assets
€313k ▼ 34.0%
Equity and liabilities €1.06M
Equity
€861k ▼ 11.2%
Debt
€202k ▼ 34.8%
Debt's share of the balance-sheet total falls from 24.2% to 19.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-67k▼
2024 · €214k
Cash flow
€-82k▼
2024 · €144k
Current ratio
4.48▼
2024 · 5.41
Debt to equity
0.23▼
2024 · 0.32
ROE
-12.6%▼
2024 · 10.6%
ROA
-10.2%▼
2024 · 8.1%
Interest coverage
-4.20▼
2024 · 12.40
Debt ≤ 1 year
€70k▼
2024 · €88k
Debt > 1 year
€132k▼
2024 · €222k
Income taxes
€2k▼
2024 · €59k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.28M€1.06M▼
Fixed assets21/28€805k€750k▼
Tangible fixed assets22/27€804k€750k▼
Land and buildings22€736k€721k▼
Plant, machinery and equipment23€6k€5k▼
Furniture and vehicles24€63k€22k▼
Other tangible fixed assets26-€2k
Financial fixed assets28€377-
Current assets29/58€474k€313k▼
Amounts receivable within one year40/41€73k€17k▼
Trade receivables40€19k€17k▼
Other amounts receivable41€54k-
Current investments50/53€2-
Cash at bank and in hand54/58€394k€292k▼
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€1.28M€1.06M▼
Equity10/15€969k€861k▼
Reserves13€309k€309k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€87k€87k=
Distributable reserves133€220k€220k=
Profit (loss) carried forward14€661k€552k▼
Amounts payable17/49€309k€202k▼
Amounts payable after more than one year17€222k€132k▼
Financial debts170/4€222k€132k▼
Amounts payable within one year42/48€88k€70k▼
Current portion of amounts payable after more than one year42€9k€9k=
Financial debts43€167€198▲
Credit institutions430/8€167€198▲
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€73k€58k▼
Taxes450/3€73k€58k▼
Other amounts payable47/48€3k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€27k▼
Other operating charges640/8€10k€6k▼
Non-recurring operating charges66A-€16k
Gross operating margin9900€224k€-45k▼
Operating profit (loss)9901€174k€-94k▼
Financial income75/76B€6k€4k▼
Recurring financial income75€6k€4k▼
Financial charges65/66B€17k€16k▼
Recurring financial charges65€17k€16k▼
Profit (loss) for the period before taxes9903€162k€-106k▼
Income taxes67/77€59k€2k▼
Profit (loss) for the period9904€103k€-109k▼
Profit (loss) for the period to be appropriated9905€103k€-109k▼
Appropriation of the result
Profit (loss) to be appropriated9906€764k€552k▼
Profit (loss) brought forward from the previous period14P€661k€661k=
Transfer to equity691/2€103k-
To other reserves6921€103k-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39k | €38k | €39k | €41k | €27k | ▼ 34.6% |
| Other operating charges640/8 | - | €15k | €8k | €10k | €6k | ▼ 42.4% |
| Non-recurring operating charges66A | - | - | - | - | €16k | - |
| Gross operating margin9900 | €20k | €52k | €2k | €224k | €-45k | ▼ 120% |
| Operating profit (loss)9901 | €-25k | €-1k | €-45k | €174k | €-94k | ▼ 154% |
| Financial income75/76B | - | €24 | €3k | €6k | €4k | ▼ 39.9% |
| Recurring financial income75 | - | €24 | €3k | €6k | €4k | ▼ 39.9% |
| Non-recurring financial income76B | - | €24 | - | - | - | - |
| Financial charges65/66B | - | €4k | €13k | €17k | €16k | ▼ 7.6% |
| Recurring financial charges65 | €3k | €2k | €13k | €17k | €16k | ▼ 7.6% |
| Non-recurring financial charges66B | - | €2k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €-28k | €-5k | €-55k | €162k | €-106k | ▼ 165% |
| Income taxes67/77 | €29k | €22k | - | €59k | €2k | ▼ 95.9% |
| Profit (loss) for the period9904 | €-57k | €-27k | €-55k | €103k | €-109k | ▼ 205% |
| Profit (loss) for the period to be appropriated9905 | €-57k | €-27k | €-55k | €103k | €-109k | ▼ 205% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.06M | €971k | €1.10M | €1.28M | €1.06M | ▼ 16.9% |
| Fixed assets21/28 | €601k | €571k | €839k | €805k | €750k | ▼ 6.8% |
| Tangible fixed assets22/27 | €587k | €571k | €839k | €804k | €750k | ▼ 6.8% |
| Land and buildings22 | - | €536k | €751k | €736k | €721k | ▼ 2.1% |
| Plant, machinery and equipment23 | - | €25k | €11k | €6k | €5k | ▼ 16.0% |
| Furniture and vehicles24 | - | €10k | €77k | €63k | €22k | ▼ 64.8% |
| Other tangible fixed assets26 | - | - | - | - | €2k | - |
| Financial fixed assets28 | €14k | €377 | €377 | €377 | - | - |
| Current assets29/58 | €458k | €399k | €263k | €474k | €313k | ▼ 34.0% |
| Amounts receivable after more than one year29 | - | €40k | €39k | - | - | - |
| Other amounts receivable291 | - | €40k | €39k | - | - | - |
| Amounts receivable within one year40/41 | €42k | €7k | €10k | €73k | €17k | ▼ 76.0% |
| Trade receivables40 | - | €2k | €5k | €19k | €17k | ▼ 8.8% |
| Other amounts receivable41 | - | €5k | €5k | €54k | - | - |
| Current investments50/53 | €2 | €2 | €2 | €2 | - | - |
| Cash at bank and in hand54/58 | €407k | €346k | €208k | €394k | €292k | ▼ 25.8% |
| Deferred charges and accrued income490/1 | - | €7k | €6k | €7k | €3k | ▼ 59.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.06M | €971k | €1.10M | €1.28M | €1.06M | ▼ 16.9% |
| Equity10/15 | €953k | €908k | €853k | €969k | €861k | ▼ 11.2% |
| Contributions10/11 | €19k | - | - | - | - | - |
| Reserves13 | €192k | €192k | €192k | €309k | €309k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €87k | €87k | €87k | €87k | = |
| Distributable reserves133 | - | €103k | €103k | €220k | €220k | = |
| Profit (loss) carried forward14 | €742k | €716k | €661k | €661k | €552k | ▼ 16.4% |
| Amounts payable17/49 | €106k | €63k | €249k | €309k | €202k | ▼ 34.8% |
| Amounts payable after more than one year17 | €66k | €28k | €231k | €222k | €132k | ▼ 40.5% |
| Financial debts170/4 | - | €28k | €231k | €222k | €132k | ▼ 40.5% |
| Amounts payable within one year42/48 | €41k | €35k | €17k | €88k | €70k | ▼ 20.2% |
| Current portion of amounts payable after more than one year42 | - | €25k | €9k | €9k | €9k | = |
| Financial debts43 | - | €161 | €162 | €167 | €198 | ▲ 18.5% |
| Credit institutions430/8 | - | €161 | €162 | €167 | €198 | ▲ 18.5% |
| Trade debts44 | €14k | €3k | €5k | €2k | €2k | ▼ 12.0% |
| Suppliers440/4 | - | €3k | €5k | €2k | €2k | ▼ 12.0% |
| Taxes, remuneration and social security45 | - | €5k | €2k | €73k | €58k | ▼ 20.0% |
| Taxes450/3 | - | €5k | €2k | €73k | €58k | ▼ 20.0% |
| Other amounts payable47/48 | - | €1k | - | €3k | - | - |
| Accrued charges and deferred income492/3 | - | €450 | €1k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-57k | €-27k | €-55k | €103k | €-109k | ▼ 205% |
| + Depreciation and write-downs630 | €39k | €38k | €39k | €41k | €27k | ▼ 34.6% |
| Operating cash flow (approximation) | €-18k | €12k | €-16k | €144k | €-82k | ▼ 157% |
| Investment in fixed assets (approximation) | - | €-9k | €-307k | €-6k | €28k | ▲ 542% |
| Change in cash | - | €-62k | €-138k | €186k | €-102k | ▼ 155% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-109k
Net result drops to €-109k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €103k
Net result €103k after 3 loss-making years.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2021
10-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Liquidity doublescurrent ratio 11.27
Current ratio from 4.66 to 11.27; short-term debt falls from €127k to €41k.
2020
25-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Liquidity doublescurrent ratio 4.66
Current ratio from 1.89 to 4.66; short-term debt falls from €193k to €127k.
30-06
Financial
Equity above €1MEq €1.01M ▲37.5%
2 profitable years in a row build equity to €1.01M.
05-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 5 days late
Show earlier events
2019
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Rixensart · 1 establishment unit since 2007
Ground area
2,558 m²
Building footprint
287 m²
Volume, LiDAR
2,096 m³
2 parcels, Wallonia · tallest building 15.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KPEX
since 20072.164.340.808
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25091F0678/00E000 | Wallonia | 1,946 m² | 1 · 165 m² | 9.1 m · 2 fl. |
| 25006C0170/00G000 | Wallonia | 612 m² | 1 · 122 m² | 15.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,896. 3,299 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
Founded02-08-2007
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.