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MIDCAP

Active
Private limited companyfounded 2018active for 7 yearsKamerdellelaan 70, 1180 Ukkel, BelgiumKBO/BCE: BE 0715.993.424
Summary

MIDCAP has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€45,303) and a net result of -€149,809. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 12% of 9,760 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).

Overview

Activity
Agents specialised in the wholesale of other particular products
NACE 46180
1 site
Size
€5.4mtotal assets 2025
Equity
-€45,303
Loss
-€149,809
Turnover not published (abbreviated or micro format)
Financial health
53 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
1.0%
Structure
2025 accounts filed 11 days late3 of 5 deeds summarised
Why 53raises riskCapped at 59: negative equityNegative equity -€45,3031 change of registered office in 24 monthslowers riskSize: total assets €5.4mFigures for financial year 2025 (filed 11-08-2026)Show the evidence

Checked score

Score 2025
53 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 15% of its sector peers (NACE 46, small)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 24-3
equity -0.8% of total assets
Liquidity 40-19
short-term debt 29.4% · cash 1.4%
Profitability 15+3
return on assets -2.8%
Bankruptcy probability, 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (4,373 companies, NACE 46, small)
Last 24 months 11-2024: 1.0% 12-2024: 1.0%● unchanged vs 11-2024 01-2025: 1.0%● unchanged vs 12-2024 02-2025: 1.0%● unchanged vs 01-2025 03-2025: 0.8%▼ -0.2 percentage points vs 02-2025 04-2025: 0.9%▲ +0.1 percentage points vs 03-2025 05-2025: 1.2%▲ +0.3 percentage points vs 04-2025 06-2025: 1.4%▲ +0.2 percentage points vs 05-2025 07-2025: 1.4%● unchanged vs 06-2025 08-2025: 2.0%▲ +0.6 percentage points vs 07-2025 09-2025: 0.8%▼ -1.2 percentage points vs 08-2025 10-2025: 0.8%● unchanged vs 09-2025 11-2025: 0.8%● unchanged vs 10-2025 12-2025: 0.8%● unchanged vs 11-2025 01-2026: 0.8%● unchanged vs 12-2025 02-2026: 0.8%● unchanged vs 01-2026 03-2026: 0.5%▼ -0.3 percentage points vs 02-2026lowest value 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.6%▲ +0.1 percentage points vs 04-2026 06-2026: 0.8%▲ +0.2 percentage points vs 05-2026 07-2026: 0.8%● unchanged vs 06-2026 08-2026: 2.1%▲ +1.3 percentage points vs 07-2026highest value 09-2026: 1.0%▼ -1.1 percentage points vs 08-2026 10-2026: 1.0%● unchanged vs 09-2026
No credit on open account
Liquidity ample (current ratio 1.96, compared with 12.89 in 2024, above the usual 1.5; short-term debt: 29.4% and cash: 1.4% of total assets), but equity is negative.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small): better than 4% on solvency, 44% on liquidity, 10% on profitability and 1% on growth.

The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Six signals.
lowers riskraises risk
raises risk · Negative equity -€45,303
NBB · annual accounts
lowers risk · Size: total assets €5.4m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
lowers risk · Figures for financial year 2025 (filed 11-08-2026)
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year -€45,303
raises risk · 2025 accounts filed 11 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filings
Deviation from the deadline
2025
11 days late
2024
28 days late
2023
27 days late
2022
31 days late
2021
24 days late
2020
31 days late
2019
27 days late
← 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 26 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
25-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · abbreviated…
  2. Registered officeRegistered-office move
  3. Annual accounts filedfinancial year 2024 · micro…

Financials · financial year 2025, abbreviated format

2025 annual accounts filed late (11 days) Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00392042.

Equity
-€45,303
2024 · €104,506
Total assets
€5.4m▲ 28.0%
2024 · €4.2m
Net result
-€149,809▲ 30.8%
2024 · -€216,355
Working capital
€1.5m▼ 31.7%
2024 · €2.2m
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result stays negative: a loss of €92,438 in 2025 against €98,457 in 2024; the loss shrinks.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result-€0.09m 2025 Net result-€0.1m 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result€0.08m-€0.1m▲ 68.0%€0.7m▲ 425%€0.04m▼ 94.5%€0.4m▲ 803%-€0.1m-€0.09m▲ 6.1%
Net result€0.07m-€0.09mabove the sector's middle half▲ 20.5%€0.5mabove the sector's middle half▲ 497%€0.009mwithin the sector's middle half▼ 98.3%€0.2mabove the sector's middle half▲ 22×-€0.2mbelow the sector's middle half-€0.1mbelow the sector's middle half▲ 30.8%
Equity€0.09m-€0.2mabove the sector's middle half▲ 96.2%€0.5mabove the sector's middle half▲ 182%€0.5mabove the sector's middle half▲ 1.8%€0.5mabove the sector's middle half=€0.1mwithin the sector's middle half▼ 79.9%-€0.05mbelow the sector's middle half
Total assets€1.1m-€1.5mabove the sector's middle half▲ 41.7%€1.1mabove the sector's middle half▼ 26.6%€2.4mabove the sector's middle half▲ 112%€2.4mabove the sector's middle half▼ 0.4%€4.2mabove the sector's middle half▲ 78.9%€5.4mabove the sector's middle half▲ 28.0%
Debt€1.0m-€1.3m▲ 36.6%€0.6m▼ 54.8%€1.8m▲ 204%€1.8m▼ 0.5%€4.1m▲ 124%€5.5m▲ 32.4%
Working capital€0.2m-€0.04mwithin the sector's middle half▼ 82.9%€0.1mabove the sector's middle half▲ 215%€0.4mabove the sector's middle half▲ 191%€0.4mabove the sector's middle half▲ 4.0%€2.2mabove the sector's middle half▲ 456%€1.5mabove the sector's middle half▼ 31.7%
Solvency8.6%-11.9%within the sector's middle half▲ 3.3pp45.7%within the sector's middle half▲ 33.8pp22.0%within the sector's middle half▼ 23.7pp22.1%within the sector's middle half▲ 0.1pp2.5%below the sector's middle half▼ 19.6pp-0.8%below the sector's middle half▼ 3.3pp
Current ratio1.58-1.04within the sector's middle half▼ 0.541.52within the sector's middle half▲ 0.481.26within the sector's middle half▼ 0.271.26within the sector's middle half▲ 0.0112.89above the sector's middle half▲ 11.631.96within the sector's middle half▼ 10.93
Return on assets (ROA)6.9%-5.8%within the sector's middle half▼ 1.0pp47.4%above the sector's middle half▲ 41.6pp0.4%within the sector's middle half▼ 47.0pp8.5%within the sector's middle half▲ 8.1pp-5.1%below the sector's middle half▼ 13.7pp-2.8%below the sector's middle half▲ 2.4pp
Staff (FTE)1
above within below the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.4m
Fixed assets €2.3m ▲ 27.1%
Current assets €3.1m ▲ 28.7%
Equity and liabilities
Equity-€45,303
Debt€5.5m
Equity is negative: debt (€5.5m) exceeds the balance-sheet total (€5.4m).
Key figures and ratios
2025 value · change against 2024
EBITDA
-€53,632▲
2024 · -€68,191
Cash flow
-€111,003▲
2024 · -€186,089
Quick ratio
0.40▼
2024 · 4.17
Interest coverage
-0.94▼
2024 · -0.63
Debt ≤ 1 year
€1.6m▲
2024 · €187,804
Debt > 1 year
€3.9m▼
2024 · €3.9m
Income taxes
€436▼
2024 · €10,449
A ratio outside any meaningful range has been withheld (balance sheet total €5.4m, equity -€45,303).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,167 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94.9% are still going.

  • Small
  • 5 to 10 years old
  • negative equity
  • a small loss
2.0% went bankrupt
2.8% stopped otherwise
94.9% still going

A further 0.3% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,167 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.2m€5.4m▲
Fixed assets21/28€1.8m€2.3m▲
Tangible fixed assets22/27€0.4m€0.8m▲
Land and buildings22€0.4m€0.8m▲
Furniture and vehicles24€0.03m€0.03m▼
Financial fixed assets28€1.4m€1.5m▲
Current assets29/58€2.4m€3.1m▲
Stocks and contracts in progress3€1.6m€2.5m▲
Stocks30/36€1.6m€2.5m▲
Amounts receivable within one year40/41€0.5m€0.6m▲
Trade receivables40€360€0.1m▲
Other amounts receivable41€0.5m€0.4m▼
Cash at bank and in hand54/58€0.3m€0.07m▼
Deferred charges and accrued income490/1€0.005m€0.008m▲
Equity and liabilities
Total equity and liabilities10/49€4.2m€5.4m▲
Equity10/15€0.1m-€0.05m▼
Contributions10/11€0.02m€0.02m=
Contributions outside capital11€0.02m€0.02m=
Other1109/19€0.02m€0.02m=
Reserves13€0.002m€0.002m=
Non-distributable reserves130/1€0.002m€0.002m=
Reserves not available under the articles1311€0.002m€0.002m=
Profit (loss) carried forward14€0.08m-€0.07m▼
Amounts payable17/49€4.1m€5.5m▲
Amounts payable after more than one year17€3.9m€3.9m▼
Financial debts170/4€3.9m€3.9m▼
Amounts payable within one year42/48€0.2m€1.6m▲
Current portion of amounts payable after more than one year42€0.07m€0.07m▲
Financial debts43-€1.0m
Credit institutions430/8-€1.0m
Trade debts44€0.001m€0.09m▲
Suppliers440/4€0.001m€0.09m▲
Taxes, remuneration and social security45€0.1m€0.008m▼
Taxes450/3€0.1m€0.008m▼
Other amounts payable47/48-€0.4m
Accrued charges and deferred income492/3€0.002m€0.002m=
Income statement Code20242025
Non-recurring operating income76A€0.004m€0.01m▲
Remuneration, social security and pensions62-€459-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.03m€0.04m▲
Other operating charges640/8€0.007m€0.07m▲
Gross operating margin9900-€0.06m€0.01m▲
Operating profit (loss)9901-€0.1m-€0.09m▲
Financial income75/76B€88-
Recurring financial income75€88-
Financial charges65/66B€0.1m€0.06m▼
Recurring financial charges65€0.1m€0.06m▼
Profit (loss) for the period before taxes9903-€0.2m-€0.1m▲
Income taxes67/77€0.01m€436▼
Profit (loss) for the period9904-€0.2m-€0.1m▲
Profit (loss) for the period to be appropriated9905-€0.2m-€0.1m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m-€0.07m▼
Profit (loss) brought forward from the previous period14P€0.5m€0.08m▼
Profit to be distributed694/7€0.2m-
Return on contributions (dividend)694€0.2m-

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2019202020212022202320242025Change
Non-recurring operating income76A-----€4,124€12,447▲ 202%
Remuneration, social security and pensions62--€13,024€6,915€268-€459--
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16,203€27,039€34,317€35,250€35,449€30,266€38,806▲ 28.2%
Other operating charges640/8--€10,574€198,767€7,753€6,994€67,020▲ 858%
Non-recurring operating charges66A---€5,613----
Gross operating margin9900€226,143€290,606€802,301€287,405€412,243-€61,656€13,388-
Operating profit (loss)9901€84,386€141,739€744,385€40,860€368,772-€98,457-€92,438▲ 6.1%
Financial income75/76B--€3-€0€88--
Recurring financial income75€0-€3-€0€88--
Financial charges65/66B--€36,870€24,233€46,402€107,537€56,934▼ 47.1%
Recurring financial charges65€7,666€27,659€36,870€24,233€46,402€107,537€56,934▼ 47.1%
Profit (loss) for the period before taxes9903€76,721€114,079€707,518€16,627€322,370-€205,906-€149,372▲ 27.5%
Income taxes67/77€2,950€25,198€176,923€7,428€121,092€10,449€436▼ 95.8%
Profit (loss) for the period9904€73,771€88,881€530,596€9,199€201,279-€216,355-€149,809▲ 30.8%
Profit (loss) for the period to be appropriated9905€73,771€88,881€530,596€9,199€201,279-€216,355-€149,809▲ 30.8%
Line2019202020212022202320242025Change
Assets
Total assets20/58€1.1m€1.5m€1.1m€2.4m€2.4m€4.2m€5.4m▲ 28.0%
Fixed assets21/28€0.4m€0.5m€0.7m€0.5m€0.4m€1.8m€2.3m▲ 27.1%
Tangible fixed assets22/27€0.4m€0.5m€0.5m€0.5m€0.4m€0.4m€0.8m▲ 107%
Land and buildings22--€0.4m€0.4m€0.4m€0.4m€0.8m▲ 117%
Furniture and vehicles24--€0.04m€0.04m€0.03m€0.03m€0.03m▼ 13.2%
Financial fixed assets28€0.01m€0.01m€0.3m€0.01m€0.01m€1.4m€1.5m▲ 4.6%
Current assets29/58€0.7m€1.0m€0.4m€1.9m€1.9m€2.4m€3.1m▲ 28.7%
Stocks and contracts in progress3€0.4m€0.7m-€1.6m€1.6m€1.6m€2.5m▲ 51.3%
Stocks30/36---€1.6m€1.6m€1.6m€2.5m▲ 51.3%
Amounts receivable within one year40/41€0.2m€0.2m€0.2m€0.3m€0.3m€0.5m€0.6m▲ 17.7%
Trade receivables40--€0.2m€0.3m€0.3m€360€0.1m▲ 329×
Other amounts receivable41--€0.003m€0.06m€0.01m€0.5m€0.4m▼ 7.4%
Cash at bank and in hand54/58€0.02m€0.07m€0.1m€0.02m€0.06m€0.3m€0.07m▼ 75.7%
Deferred charges and accrued income490/1--€0.008m€0.004m€0.006m€0.005m€0.008m▲ 65.7%
Equity and liabilities
Total equity and liabilities10/49€1.1m€1.5m€1.1m€2.4m€2.4m€4.2m€5.4m▲ 28.0%
Equity10/15€0.09m€0.2m€0.5m€0.5m€0.5m€0.1m-€0.05m-
Contributions10/11€0.02m€0.02m€0.02m€0.02m€0.02m€0.02m€0.02m=
Capital10--€0.02m€0.02m----
Issued capital100--€0.02m€0.02m----
Contributions outside capital11----€0.02m€0.02m€0.02m=
Other1109/19----€0.02m€0.02m€0.02m=
Reserves13€0.002m€0.002m€0.002m€0.002m€0.002m€0.002m€0.002m=
Non-distributable reserves130/1--€0.002m€0.002m€0.002m€0.002m€0.002m=
Legal reserve130--€0.002m€0.002m----
Reserves not available under the articles1311----€0.002m€0.002m€0.002m=
Profit (loss) carried forward14€0.07m€0.2m€0.5m€0.5m€0.5m€0.08m-€0.07m-
Amounts payable17/49€1.0m€1.3m€0.6m€1.8m€1.8m€4.1m€5.5m▲ 32.4%
Amounts payable after more than one year17€0.5m€0.4m€0.4m€0.3m€0.3m€3.9m€3.9m▼ 1.7%
Financial debts170/4--€0.4m€0.3m€0.3m€3.9m€3.9m▼ 1.7%
Amounts payable within one year42/48€0.4m€1.0m€0.3m€1.5m€1.5m€0.2m€1.6m▲ 746%
Current portion of amounts payable after more than one year42--€0.02m€0.02m€0.02m€0.07m€0.07m▲ 3.5%
Financial debts43---€1.3m€1.3m-€1.0m-
Credit institutions430/8---€1.3m€1.3m-€1.0m-
Trade debts44€0.03m€0.009m€0.001m€0.006m€0.001m€0.001m€0.09m▲ 140×
Suppliers440/4--€0.001m€0.006m€0.001m€0.001m€0.09m▲ 140×
Taxes, remuneration and social security45--€0.2m€0.2m€0.1m€0.1m€0.008m▼ 93.5%
Taxes450/3--€0.2m€0.2m€0.1m€0.1m€0.008m▼ 93.5%
Remuneration and social security454/9--€3-----
Other amounts payable47/48--€0.03m-€0.08m-€0.4m-
Accrued charges and deferred income492/3--€0.002m€0.002m€0.002m€0.002m€0.002m=
Line2019202020212022202320242025Change
Profit (loss) for the period9904€0.07m€0.09m€0.5m€0.009m€0.2m-€0.2m-€0.1m▲ 30.8%
+ Depreciation and write-downs630€0.02m€0.03m€0.03m€0.04m€0.04m€0.03m€0.04m▲ 28.2%
Operating cash flow (approximation)€0.09m€0.1m€0.6m€0.04m€0.2m-€0.2m-€0.1m▲ 40.3%
Investment in fixed assets (approximation)--€0.1m-€0.3m€0.2m-€0.001m-€1.4m-€0.5m▲ 62.2%
Change in cash-€0.06m€0.07m-€0.1m€0.04m€0.2m-€0.2m-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (7)
Financial year Type Filed Reference
31-12-2025 abbreviated format 11-08-2026 2026-00392042
31-12-2024 micro format 28-08-2025 2025-00419708
31-12-2023 micro format 27-08-2024 2024-00376191
31-12-2022 micro format 31-08-2023 2023-00388162
31-12-2021 micro format 24-08-2022 2022-20310434
31-12-2020 micro format 31-08-2021 2021-61900472
31-12-2019 micro format 27-08-2020 2020-46100505

Similar companies · same sector and region

This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 4,317 active companies whose main activity is agents specialised in the wholesale of other particular products (NACE 46180), figures are known for 1,888. See the whole sector

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
1 director, last change in 2023
DESPIEGELAERE Michael
Director · since 01-12-2023
Current
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
2 of this company's 5 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.

Mandate history

1 person since 2023, 1 in office
Show
  • Board
Mandates per person, with start and end dates
Name Functions and periods
DESPIEGELAERE Michael
  • Director, from 01-12-2023 to date
See the board, name and registered office on a given date →

Owners and capital

Capital and shareholders

Capital over the years
  1. 01-12-2023 Converted to unavailable equity

Group and network

Connections & network

2 connected companies
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
ALTO HOLDCAP
Shared director
→
KESTREL MANAGEMENT
Shared director
→

Board mandates elsewhere

3 board mandates
Board mandates of this companythis company sits on their board3

History

On 19 December 2018, MIDCAP was incorporated.1 The registered office moved to Bruxelles in 2024 and to Uccle in 2026.23 Total assets went from €1.1m in 2019 to €5.4m in 2025.4

  1. 1KBO register
  2. 2Belgian Official Gazette, 12-02-2024
  3. 3Belgian Official Gazette, 17-07-2026
  4. 4National Bank, annual accounts 2019 and 2025

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
11-08
NBB filing Annual accounts filed
financial year 2025 · abbreviated format · 11 days late
17-07
Gazette deed Registered office
Registered-office move2 facts ▸
  • General meeting, 15-07-2026
  • Registered-office move, Avenue Kamerdelle 70,1180 Uccle
2025
28-08
NBB filing Annual accounts filed
financial year 2024 · micro format · 28 days late
2024
31-12
Financial Weakest financial yearnet -€216,355
Net result drops to -€216,355, the lowest in the series; recovery starts the following year.
31-12
Financial Liquidity more than 10 timescurrent ratio 12.89
Current ratio from 1.26 to 12.89; short-term debt falls from €1.5m to €187,804.
27-08
NBB filing Annual accounts filed
financial year 2023 · micro format · 27 days late
12-02
Gazette deed Registered office
Registered-office move2 facts ▸
  • General meeting, 09-01-2024
  • Registered-office move, 13F boite 3, Avenue Juliette - 1180 Bruxelles
2023
01-12
Gazette deed Appointment: DESPIEGELAERE Michael (director)
Registered office clause · Power of attorney · Capital conversion10 facts ▸
  • Director appointment, DESPIEGELAERE Michael (director)
  • Registered office clause, “1180 Uccle,Avenue Blücher 166” (deed in French)
  • Other provision, “à ce jour, site internet et adresse électronique” (deed in French)
  • Power of attorney, DESPIEGELAERE Michael
  • General meeting, 28-11-2023
  • Other provision, “historique statuts”, 18-12-2018 (deed in French)
  • Other provision, “adaptation statuts CSA, adapter” (deed in French)
  • Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
  • Amendment of the articles
  • Capital
31-08
NBB filing Annual accounts filed
financial year 2022 · micro format · 31 days late
2022
24-08
NBB filing Annual accounts filed
financial year 2021 · micro format · 24 days late
2021
31-12
Financial Highest result from 2019 to 2025net €530,596 ▲497%
Operating result €744,385, net result €530,596, both a record.
31-12
Financial Equity above €500,000equity €511,848 ▲182%
A profit in every financial year since 2019 builds equity to €511,848.
Show earlier events
31-08
NBB filing Annual accounts filed
financial year 2020 · micro format · 31 days late
2020
31-12
Financial Equity above €150,000equity €181,252 ▲96.2%
A profit in every financial year since 2019 builds equity to €181,252.
27-08
NBB filing Annual accounts filed
financial year 2019 · micro format · 27 days late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
3 of 5 deeds read
About the unread acts

Of the 5 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.

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Register details

Identification
Legal formPrivate limited company
Founded19-12-2018
Financial year end31-12
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
68310Real estate agency activities
68321Property management for co-owned buildings (syndics)
68322Real estate appraisal on a fee or contract basis
E-invoicing
Reachable via Peppol
Peppol ID 0208:0715993424
Also 9925:BE0715993424
Registered 05-01-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 25 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2018
registered office establishment The establishment unit on the map
Ground area
2,317 m²
Building footprint
590 m²
Building volume
4,510 m³
2 parcels, Brussels · tallest building 24.4 m. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
MIDCAP
Blücherlaan 166, 1180 UkkelAgents specialised in the wholesale of other particular products
since 2018unit no. 2.284.803.425
2 parcels
Brussels 2 (100%)
Cadastral parcel Region Area Buildings Height / floors
21614H0008/00F047 Brussels 2,123 m² 1 · 327 m² 24.4 m · 3
21612D0025/00N023 Brussels 195 m² 1 · 263 m² 14.2 m · 2
How the parcels are linked
Good to know
Both parcels match the address exactly.

Articles of association

What the company does

PurposeThe activities the company may carry out under its articles.
“L’activité d’agent immobilier; L’activité de marchand de biens; La gestion et l’entretien de patrimoines immobiliers pour autrui ou pour…” (deed in French)
8 activities (deed in French)
  1. L’activité d’agent immobilier
  2. L’activité de marchand de biens
  3. La gestion et l’entretien de patrimoines immobiliers pour autrui ou pour elle-même, la vente, l’échange, l’achat, la construction par sous-traitance, la mise en valeur, le lotissement, la transformation, la démolition, la reconstruction, la restauration, l’entretien, le développement, l’embellissement, la location, la prise en location, l’affermage, d’immeubles bâtis ou non, meublés ou non, la création et entretien de jardins, de parcs et d’espaces verts pour installations sportives publiques, civiles ou privées
  4. La gestion de patrimoine mobilier incluant rachat d’instruments Financiers de toutes sortes et le prêt d’argent rémunéré ou non
  5. La gestion de participations sous n’importe quelle forme dans toutes sociétés belges ou étrangères, tant en vue de les valoriser qu’en exercice pur et simple de mandat d’administration
  6. Toutes opérations se rapportant à l’organisation d’événement
  7. Tout acte de commerce en gros ou au détail, import et export
  8. Toutes activités liées à la consultance, le conseil et l’assistance sous toutes ses formes aux entreprises, aux associations et aux particuliers ainsi que le conseil en relation publique, marketing, juridique, administrative, sociale, financière, recrutement et formation de personnel, l’étude de marchés et l’organisation financière, technique et commerciale dans le sens le plus large du terme

The full purpose is in the deed

DurationHow long the company exists; usually unlimited, so until it is dissolved.
Unlimited
Name clauseThe name the company operates under according to its articles.
MIDCAP
Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
“Région de Bruxelles-Capitale, Article 2” (deed in French)

deed of 01-12-2023

Who represents it, and how

Who signsWho may bind the company towards others, for example by signing a contract.
“Article 13. Pouvoirs de l’organe d’administration A/ S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
Board ruleHow the board is made up, meets and takes decisions.
“Organe d'administration, un ou plusieurs administrateurs” (deed in French)
“Fixe ou proportionnelle, assemblée générale” (deed in French)

deed of 01-12-2023

Capital, shares and profit

Kind of sharesWhich classes of shares exist and what rights each class carries.
“Nominatives, Article 8” (deed in French)
Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
“Entre vifs ou mort sans agrément vers actionnaire, conjoint cédant/testateur, ascendants/descendants ligne directe, Article 9” (deed in French)

deed of 01-12-2023

Meetings and financial year

Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
Last Friday of June at 18:00

deed of 01-12-2023

Oversight and winding up

Dissolution ruleWhen and by whom the company can be dissolved.
“En tout temps par assemblée générale dans formes des modifications aux statuts” (deed in French)
Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
“Dissolution pour quelque cause et à quelque moment que ce soit, désigner liquidateurs et déterminer pouvoirs et émoluments” (deed in French)

deed of 01-12-2023

Other provisionsOther rules from the articles that fall under none of the themes above.

Other provision: “Gestion journalière, un ou plusieurs membres portant titre d'administrateur-délégué ou un ou plusieurs directeurs” (deed in French)
Other provision: “Un ou plusieurs commissaires, contrôle de la société” (deed in French)
Other provision: “Actionnaires peuvent à l'unanimité prendre par écrit toutes décisions relevant de l'assemblée générale, dans les limites de la loi” (deed in French)
Other provision: “Participation à distance par moyen électronique mis à disposition par la société, assemblée générale par voie électronique” (deed in French)
Other provision: “Administrateur ou défaut actionnaire présent détenant le plus d'actions ou parité plus âgé, séances-procès-verbaux” (deed in French)
Other provision: “Tout actionnaire à toute personne actionnaire ou non par tout moyen procuration écrite, délibérations et vote” (deed in French)
Other provision: “Organe d'administration, trois semaines” (deed in French)
Other provision: “Répartition-réserves, affectation par assemblée sur proposition organe d'administration” (deed in French)
Liquidation distribution: “Actif net entre actionnaires en proportion des actions biens remis même proportion, existence d'actions non entièrement libérées” (deed in French)
Other provision: “Appels de fonds, Article 6” (deed in French)
Other provision: “Préférence existants proportionnellement, droit de préférence numéraire” (deed in French)
Other provision: “Démission à charge du patrimoine, plein droit à cette date” (deed in French)
Other provision: “Justes motifs, e-mail ou recommandé” (deed in French)
1 more provision in the deed, see the deed of 01-12-2023

deed of 01-12-2023