Opticien Capelle
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 4 filings
Turnover
≈ €400,000
Estimated: probably between €210,000 and €550,000
Total assets
€203,803▲ 87.9%
2024 · €108,468
Net result
€40,469▲ 44.1%
2024 · €28,091
Working capital
-€54,237
2024 · €4,483
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€58,522
▲ 62.3%
2025
20222025
Net result
€40,469
▲ 44.1%
2025
highest quarter of the sector
20222025
Equity
€3,000
▼ 94.0%
2025
lowest quarter of the sector
20222025
Total assets
€203,803
▲ 87.9%
2025
middle half of the sector
20222025
Debt
€200,803
▲ 244%
2025
20222025
Working capital
-€54,237
2025
lowest quarter of the sector
20222025
Solvency
1.5%
▼ 44.7pp
2025
lowest quarter of the sector
20222025
Current ratio
0.63
▼ 0.44
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
19.9%
▼ 6.0pp
2025
highest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€21,720-€32,953▲ 51.7%€36,064▲ 9.4%€58,522▲ 62.3%
Net result€16,577within the sector's middle half-€21,372above the sector's middle half▲ 28.9%€28,091above the sector's middle half▲ 31.4%€40,469above the sector's middle half▲ 44.1%
Equity€19,577within the sector's middle half-€40,949within the sector's middle half▲ 109%€50,066within the sector's middle half▲ 22.3%€3,000below the sector's middle half▼ 94.0%
Total assets€147,921within the sector's middle half-€97,709within the sector's middle half▼ 33.9%€108,468within the sector's middle half▲ 11.0%€203,803within the sector's middle half▲ 87.9%
Debt€128,344-€56,760▼ 55.8%€58,402▲ 2.9%€200,803▲ 244%
Working capital-€31,146below the sector's middle half-€5,225within the sector's middle half€4,483within the sector's middle half▼ 14.2%-€54,237below the sector's middle half
Solvency13.2%within the sector's middle half-41.9%within the sector's middle half▲ 28.7pp46.2%within the sector's middle half▲ 4.2pp1.5%below the sector's middle half▼ 44.7pp
Current ratio0.76below the sector's middle half-1.09within the sector's middle half▲ 0.331.08within the sector's middle half▼ 0.020.63below the sector's middle half▼ 0.44
Return on assets (ROA)11.2%within the sector's middle half-21.9%above the sector's middle half▲ 10.7pp25.9%above the sector's middle half▲ 4.0pp19.9%above the sector's middle half▼ 6.0pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 62% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Turnover and EBIT margin are not published. The 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 €203,803
Fixed assets
€109,633 ▲ 141%
Current assets
€94,170 ▲ 49.7%
Equity and liabilities €203,803
Equity
€3,000 ▼ 94.0%
Debt
€200,803 ▲ 244%
Debt's share of the balance-sheet total rises from 53.8% to 98.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€79,347▲
2024 · €49,050
Cash flow
€61,295▲
2024 · €41,077
Quick ratio
0.17▲
2024 · 0.12
Debt to equity
66.93▲
2024 · 1.17
Interest coverage
26.31▲
2024 · 23.52
Debt ≤ 1 year
€148,407▲
2024 · €58,402
Debt > 1 year
€52,396
Income taxes
€16,003▲
2024 · €7,087
A ratio outside any meaningful range has been withheld (balance sheet total €203,803, equity €3,000).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €56,973 | - | €22,845 | €84,655 |
| Financial fixed assets | - | - | - | €220 |
| Depreciation and write-downs of the year | €6,250 | €15,000 | €12,986 | €20,825 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,250 | €15,000 | €12,986 | €20,825 | ▲ 60.4% |
| Other operating charges640/8 | €2,609 | €4,998 | €3,830 | €3,018 | ▼ 21.2% |
| Gross operating margin9900 | €30,579 | €52,951 | €52,880 | €82,365 | ▲ 55.8% |
| Operating profit (loss)9901 | €21,720 | €32,953 | €36,064 | €58,522 | ▲ 62.3% |
| Financial income75/76B | €278 | €880 | €1,200 | €967 | ▼ 19.4% |
| Recurring financial income75 | €278 | €880 | €1,200 | €967 | ▼ 19.4% |
| Financial charges65/66B | €633 | €2,047 | €2,086 | €3,016 | ▲ 44.6% |
| Recurring financial charges65 | €633 | €2,047 | €2,086 | €3,016 | ▲ 44.6% |
| Profit (loss) for the period before taxes9903 | €21,366 | €31,785 | €35,178 | €56,472 | ▲ 60.5% |
| Income taxes67/77 | €4,788 | €10,414 | €7,087 | €16,003 | ▲ 126% |
| Profit (loss) for the period9904 | €16,577 | €21,372 | €28,091 | €40,469 | ▲ 44.1% |
| Profit (loss) for the period to be appropriated9905 | €16,577 | €21,372 | €28,091 | €40,469 | ▲ 44.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €147,921 | €97,709 | €108,468 | €203,803 | ▲ 87.9% |
| Fixed assets21/28 | €50,723 | €35,724 | €45,583 | €109,633 | ▲ 141% |
| Tangible fixed assets22/27 | €50,723 | €35,724 | €45,583 | €109,413 | ▲ 140% |
| Land and buildings22 | - | - | €2,775 | €81,975 | ▲ 30× |
| Plant, machinery and equipment23 | €18,831 | €13,576 | €25,369 | €15,865 | ▼ 37.5% |
| Furniture and vehicles24 | €31,892 | €22,148 | €17,439 | €11,572 | ▼ 33.6% |
| Financial fixed assets28 | - | - | - | €220 | - |
| Current assets29/58 | €97,198 | €61,985 | €62,885 | €94,170 | ▲ 49.7% |
| Stocks and contracts in progress3 | €53,000 | €50,725 | €56,106 | €68,754 | ▲ 22.5% |
| Stocks30/36 | €53,000 | €50,725 | €56,106 | €68,754 | ▲ 22.5% |
| Amounts receivable within one year40/41 | €43,769 | €8,985 | €2,791 | €5,704 | ▲ 104% |
| Trade receivables40 | €41,099 | €8,985 | €1,519 | €4,432 | ▲ 192% |
| Other amounts receivable41 | €2,670 | €0 | €1,272 | €1,272 | = |
| Cash at bank and in hand54/58 | - | €1,669 | €3,448 | €18,092 | ▲ 425% |
| Deferred charges and accrued income490/1 | €429 | €607 | €540 | €1,621 | ▲ 200% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €147,921 | €97,709 | €108,468 | €203,803 | ▲ 87.9% |
| Equity10/15 | €19,577 | €40,949 | €50,066 | €3,000 | ▼ 94.0% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €16,577 | €37,949 | €47,066 | €0 | ▼ 100% |
| Amounts payable17/49 | €128,344 | €56,760 | €58,402 | €200,803 | ▲ 244% |
| Amounts payable after more than one year17 | - | - | - | €52,396 | - |
| Financial debts170/4 | - | - | - | €52,396 | - |
| Amounts payable within one year42/48 | €128,344 | €56,760 | €58,402 | €148,407 | ▲ 154% |
| Current portion of amounts payable after more than one year42 | - | - | €9,192 | €5,118 | ▼ 44.3% |
| Financial debts43 | €11,054 | €8,352 | €0 | €8,370 | - |
| Credit institutions430/8 | €11,054 | €8,352 | €0 | - | - |
| Other loans439 | - | - | - | €8,370 | - |
| Trade debts44 | €104,192 | €14,906 | €26,483 | €25,541 | ▼ 3.6% |
| Suppliers440/4 | €104,192 | €14,906 | €26,483 | €25,541 | ▼ 3.6% |
| Taxes, remuneration and social security45 | €13,098 | €20,062 | €18,495 | €31,348 | ▲ 69.5% |
| Taxes450/3 | €11,544 | €16,952 | €16,796 | €29,649 | ▲ 76.5% |
| Remuneration and social security454/9 | €1,554 | €3,110 | €1,699 | €1,699 | = |
| Other amounts payable47/48 | - | €13,441 | €4,232 | €78,030 | ▲ 18× |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,577 | €21,372 | €28,091 | €40,469 | ▲ 44.1% |
| + Depreciation and write-downs630 | €6,250 | €15,000 | €12,986 | €20,825 | ▲ 60.4% |
| Operating cash flow (approximation) | €22,827 | €36,371 | €41,077 | €61,295 | ▲ 49.2% |
| Investment in fixed assets (approximation) | - | €0 | -€22,845 | -€84,875 | ▼ 272% |
| Change in cash | - | - | €1,780 | €14,643 | ▲ 723% |
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, 2,157 companies had the same profile as Opticien Capelle has now. Two years later, 94.1% were still going and 3.0% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
94.1%
was still going
2.8%
stopped otherwise
3.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Opticien Capelle itself: 1.7% within 12 months.
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 2,157 companies, not a prediction for Opticien Capelle. 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.