ACTIVE

CAP 48

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Financial year 2026 · closed on 31/03/2026
Net result
-28,6 k €
-157.1% YoY
Equity
356,5 k €
-7.4% YoY
Workforce
21,3 ETP
+0.5% YoY

What does CAP 48 do?

CAP 48 is a Non-profit organization incorporated in 1969. Its main activity is: Technical and vocational secondary education. Its registered office is in Schaerbeek. It employs on average 21,3 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0406.603.610
Incorporation
10/06/1969
Legal form
Non-profit organization
Registered office
Boulevard Auguste Reyers 52
1030 Schaerbeek · BruxellesSee on map
Latest accounts
31/03/2026
Average workforce
21,3 ETP
Activities (NACE)
85323Technical and vocational secondary education· main88999Other social work activities without accommodation n.e.c.88999Other social work activities without accommodation n.e.c.
Joint committees (1)
  • 329
Signals
Positive cashflowHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 16 financial years

2026202520242023202220212020201920182017201620152014201320122011
Income statement
Gross margin––––––––––6,5 M €5,7 M €4,9 M €3,4 M €3 M €3,2 M €
EBITDA-393 k €-234,1 k €-440 k €-459,5 k €-340,5 k €688,1 k €40,8 k €-21,3 k €-85,1 k €91,1 k €-297,7 k €-173 k €283,5 k €-108,8 k €-2,8 k €-62,7 k €
Operating result-496,9 k €-327,5 k €-490,9 k €-489,5 k €-360,6 k €674,6 k €8,1 k €-52,2 k €-120,9 k €24,7 k €-325,6 k €-191,7 k €236 k €-142,7 k €-48 k €-77,5 k €
Net result-28,6 k €50,1 k €-68,6 k €-290,1 k €-89,8 k €652,4 k €20,6 k €-16,8 k €-93,3 k €84,5 k €-167,9 k €-169,8 k €340,1 k €-21,8 k €113,4 k €-11,5 k €
Balance sheet
Equity356,5 k €385,1 k €335 k €403,6 k €693,7 k €783,5 k €131,1 k €110,5 k €127,3 k €220,6 k €136 k €304 k €473,8 k €133,7 k €155,4 k €42 k €
Total assets21,7 M €19,7 M €18,4 M €19,2 M €18,4 M €16,9 M €14,1 M €12,3 M €10,3 M €8,5 M €9,8 M €8,4 M €8 M €5,5 M €5,5 M €4,9 M €
Cash11,1 M €4,3 M €2,1 M €6,1 M €16,1 M €14,7 M €12,1 M €10,3 M €8,6 M €6,6 M €7,8 M €5,4 M €4,9 M €2,8 M €2,8 M €2,6 M €
Debts21,2 M €19,3 M €18 M €18,8 M €17,7 M €16 M €13,9 M €12 M €10,1 M €8,2 M €9,7 M €8 M €7,6 M €5,4 M €5,3 M €4,8 M €
Other
Workforce21,3 ETP21,2 ETP20,1 ETP18,4 ETP17,6 ETP16,6 ETP18,3 ETP15,2 ETP12,8 ETP11,5 ETP10,0 ETP10,0 ETP8,0 ETP5,0 ETP5,0 ETP5,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/03/2026 · 19 active · 123 ended

Active mandates

Baptiste Erkes

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Benoit Parmentier

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Christine Gehenot

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Eric Willaye

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Jean-Philippe ROUSSEAU

Chairman of the board of directors · since 12 mars 2025 · until 13 septembre 2028

Active
Jean-Philippe ROUSSEAU

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Noémie Van Erps

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Bernard STAVAUX

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Chris VANDERVINNE

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Christian VANDERCAM

Trésorier · since 06 septembre 2023 · until 09 septembre 2026

Active
Christian VANDERCAM

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Helmut HEINEN

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
John STOEFS

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Magali FLAMAND

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Renaud TOCKERT

Managing director · since 06 septembre 2023 · until 09 septembre 2026

Active
Sandrine GRAULICH

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Véronique GHESQUIERE

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Véronique VIERSET

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Vincent CRABBE

Director · since 06 septembre 2023 · until 09 septembre 2026

Active

Ended mandates

Baptiste Erkes

Director · since 13 mars 2025 · until 13 septembre 2028

Ended
Jean-Philippe ROUSSEAU

Chairman of the board of directors · since 13 mars 2025 · until 13 septembre 2028

Ended
Jean-Philippe ROUSSEAU

Director · since 13 mars 2025 · until 13 septembre 2028

Ended
Baptiste Erkes

Director · since 06 septembre 2023 · until 06 septembre 2026

Ended
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Annual accounts

Full financial information

202620252024202320222021
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/04/202501/04/202401/04/202301/04/202201/04/202101/04/2020
Closing of the financial year31/03/202631/03/202531/03/202431/03/202331/03/202231/03/2021
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date10/09/202612/09/202519/09/202426/09/202312/09/202221/09/2021
General meeting09/09/202610/09/202518/09/202406/09/202307/09/202208/09/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

16 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/03/202609/09/202610/09/2026FrenchPDF
Full model31/03/202510/09/202512/09/2025FrenchPDF
Full model31/03/202418/09/202419/09/2024FrenchPDF
Full model31/03/202306/09/202326/09/2023FrenchPDF
Full model31/03/202207/09/202212/09/2022FrenchPDF
Full model31/03/202108/09/202121/09/2021FrenchPDF
Full model31/03/202009/09/202002/10/2020FrenchPDF
Full model31/03/201911/09/201916/09/2019FrenchPDF
Full model31/03/201812/09/201820/11/2018FrenchPDF
Full model31/03/201713/09/201713/09/2018FrenchPDF
Abridged model31/03/201607/09/201617/08/2017FrenchPDF
Abridged model31/03/201509/09/201516/09/2016FrenchPDF
Abridged model31/03/201411/09/201402/09/2015FrenchPDF
Abridged model31/03/201311/09/201329/08/2014FrenchPDF
Abridged model31/03/201219/09/201218/09/2013FrenchPDF
Abridged model31/03/201107/09/201101/03/2012FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/03/2026 · 19 active · 123 ended

Active mandates

Baptiste Erkes

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Benoit Parmentier

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Christine Gehenot

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Eric Willaye

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Jean-Philippe ROUSSEAU

Chairman of the board of directors · since 12 mars 2025 · until 13 septembre 2028

Active
Jean-Philippe ROUSSEAU

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Noémie Van Erps

Director · since 12 mars 2025 · until 13 septembre 2028

Active
Bernard STAVAUX

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Chris VANDERVINNE

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Christian VANDERCAM

Trésorier · since 06 septembre 2023 · until 09 septembre 2026

Active
Christian VANDERCAM

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Helmut HEINEN

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
John STOEFS

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Magali FLAMAND

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Renaud TOCKERT

Managing director · since 06 septembre 2023 · until 09 septembre 2026

Active
Sandrine GRAULICH

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Véronique GHESQUIERE

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Véronique VIERSET

Director · since 06 septembre 2023 · until 09 septembre 2026

Active
Vincent CRABBE

Director · since 06 septembre 2023 · until 09 septembre 2026

Active

Ended mandates

Baptiste Erkes

Director · since 13 mars 2025 · until 13 septembre 2028

Ended
Jean-Philippe ROUSSEAU

Chairman of the board of directors · since 13 mars 2025 · until 13 septembre 2028

Ended
Jean-Philippe ROUSSEAU

Director · since 13 mars 2025 · until 13 septembre 2028

Ended
Baptiste Erkes

Director · since 06 septembre 2023 · until 06 septembre 2026

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other12/12/2025
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates14/07/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/11/2024
    DEMISSIONS, NOMINATIONS - DIVERS
    PDF
  • Mandates06/12/2023
    DENOMINATION - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates06/04/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates02/03/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates17/03/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates20/02/2019
    DEMISSIONS, NOMINATIONS
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2026
    Annual accounts 2026-28,6 k €↓
  2. 2025
    Annual accounts 202550,1 k €↑
  3. 2025
    Name changeCAP 48
  4. 2024
    Annual accounts 2024-68,6 k €↑
  5. 2024
    Name changeCAP48
  6. 2023
    Annual accounts 2023-290,1 k €↓
  7. 2022
    Annual accounts 2022-89,8 k €↓
  8. 2022
    Name changeOpérations de Solidarité 48.81.00
  9. 2021
    Annual accounts 2021652,4 k €↑
  10. 2020
    Annual accounts 202020,6 k €↑
  11. 2019
    Annual accounts 2019-16,8 k €↑
  12. 2018
    Annual accounts 2018-93,3 k €↓
  13. 2017
    Annual accounts 201784,5 k €↑
  14. 2016
    Annual accounts 2016-167,9 k €↑
  15. 2015
    Annual accounts 2015-169,8 k €↓
  16. 2014
    Annual accounts 2014340,1 k €↑
  17. 2013
    Annual accounts 2013-21,8 k €↓
  18. 2012
    Annual accounts 2012113,4 k €↑
  19. 2011
    Annual accounts 2011-11,5 k €
  20. 10/06/1969
    IncorporationNon-profit organization