Capstone Partners
Capstone Partners and the 21 companies it controls according to the LEI register and the annual accounts: the structure, the figures, each company's health and where the risk sits.
Sum of the filed annual accounts of 20 of the 20 Belgian companies (fiscal years 2025). Not a consolidation: receivables, participations and sales between group companies are not eliminated, so they count.
Consolidated accounts 2025
Filed by Capstone Partners: the group's figures as one whole, with intra-group positions eliminated. These are the real group figures.
Group risk
How healthy the group's Belgian companies are, and where the risk sits. A weak subsidiary can cost the parent money, and the other way round.
- The parent itself: Capstone Partners, healthy (94/100).
- 6 companies with negative equity: WEBPLICATIONS (-€29.8m), EURACTIV MEDIA (-€11.3m), Rondom Media (-€2.1m), SKARABEE (-€1.9m), WAYNE PARKER KENT BELGIË (-€1.7m), Vlaanderen Twee (-€739,695).
- 9 companies with a loss in the latest year: WEBPLICATIONS (-€35.9m), EURACTIV MEDIA (-€6.7m), RouteYou (-€1.4m), Vlaanderen Twee (-€764,204), SMOOVED (-€647,315), MEDIAHUIS TECHNOLOGY & PRODUCT STUDIO (-€355,266) and 3 more.
- 72.9% of the added-up total assets sits in one company: MEDIAHUIS.
- 3.5% of the added-up total assets sits at companies with an elevated or high risk.
Group structure
Who consolidates whom according to the LEI register, completed with who holds more than half of the shares according to the annual accounts. Both mean control.
- Capstone Partners1 subsidiaryHealthy · 94€66.0m €61.8m 2025
- MEDIACORE1 subsidiaryHealthy · 92€27.1m €16.7m 2025
- Mediahuis Partners1 subsidiaryHealthy · 95€180.3m €161.0m 2025
- MEDIAHUIS14 subsidiariesHealthy · 88€1.34bn €657.7m 2025
- Healthy · 96€7.6m €6.1m 2025
- Fair · 46€2.4m -€11.3m 2025
- Healthy · 64€5.2m €217,867 2025
- Healthy · 93€591,778 €588,811 2025
- Elevated · 56€60.2m €24.7m 2025
- Healthy · 95€46.7m €38.7m 2025
- Fair · 54€35,985 -€2.1m 2025
- Elevated · 55€1.5m €652,928 2025
- Fair · 49€453,763 -€739,695 2025
- Fair · 53€9,962 -€1.7m 2025
- WEBPLICATIONS2 subsidiariesFair · 48€80.1m -€29.8m 2025
- Elevated · 53€1.6m €395,495 2025
- Mediahuis Ireland Group Limited
- Mediahuis Luxembourg S.A.
High risk Elevated Healthy Fair No verdict Amounts: total assets and equity from the latest accounts.
Shared directors
Who sits on the boards of several group companies. This is where control over the group sits in practice.
- 2
- 2
Events in the group
Bankruptcies, director changes, capital changes and other publications of all Belgian group companies, over the last two years.
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2 directors appointed, 2 directors resigning
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SIBBE appointed as ceo
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Change of permanent representative
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3 reappointed
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2 reappointed
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1 director appointed, 1 director resigning
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3 directors resigning, 2 reappointed
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4 directors resigning
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5 directors appointed, 5 directors resigning
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Registered office moved from Brussel to Leuven
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Share transfer
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Arezzo-Conseil CommV resigns as director
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4 directors appointed
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Where do these figures come from?
Completed with the annual accounts: a company of which another Belgian company holds more than half of the shares, by the list of holdings or the shareholder structure in its accounts, stands under that company, with the share. The register of ultimate beneficial owners (UBO) is not public.
The group's make-up comes from the LEI register (GLEIF): which company consolidates which other, directly or ultimately. A company whose link the register does not state is not listed here, even if it does belong to the group.
The amounts are those of the annual accounts each Belgian company filed with the National Bank, added up without consolidation. The verdict per company is that of its dossier on Checked.be. Everything is updated every night.
Updated on 03-10-2026