ACTIVE

Capstone Partners

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Financial year 2025 · closed on 31/12/2025

Net result

13,3 M €

+98.3% YoY

Revenue

547,6 k €

+3.2% YoY

Equity

61,8 M €

+17.7% YoY

Workforce

2,8 ETP

0.0% YoY

What does Capstone Partners do?

Capstone Partners is a Public limited company incorporated in 1986. Its main activity is: Management consultancy activities. Its registered office is in Antwerpen. It employs on average 2,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.604.002

Incorporation

08/01/1986

Legal form

Public limited company

Registered office

Katwilgweg 2
2050 Antwerpen · FlandreSee on map

Contributed capital

1 200 000,00 €

Latest accounts

31/12/2025

Average workforce

2,8 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.64200Activities of holding companies 64210Activities of holding companies+4

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	547,6 k €	+3.2%	530,6 k €	+8.8%	487,5 k €	+9.7%	444,3 k €	+5.1%	422,6 k €	+8.7%	388,7 k €	+26.3%	307,9 k €	+2.6%	300 k €	+225%	92,4 k €		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-574,7 k €	+4.7%	-603,3 k €	-84.2%	-327,4 k €	+42.1%	-565,5 k €	-22.7%	-460,7 k €	-40.5%	-328 k €	-168%	-122,5 k €	-32.8%	-92,2 k €	-81.3%	-50,9 k €	+35.0%	-78,3 k €	-102%	-38,8 k €	+56.4%	-89,1 k €	-169%	-33,1 k €	-375%	12 k €	+129%	-41,1 k €	-64.0%	-25,1 k €	+71.3%	-87,2 k €	-114%	-40,7 k €	-46.9%	-27,7 k €	-165%	-10,5 k €
Operating result	-590,1 k €	+4.6%	-618,7 k €	-80.5%	-342,9 k €	+41.6%	-587,6 k €	-20.5%	-487,6 k €	-39.0%	-350,8 k €	-111%	-166,6 k €	-47.5%	-113 k €	-70.1%	-66,4 k €	+32.9%	-99 k €	-66.4%	-59,5 k €	+45.8%	-109,8 k €	-104%	-53,8 k €	-519%	-8,7 k €	+85.9%	-61,8 k €	-10.8%	-55,8 k €	+52.7%	-117,9 k €	-89.7%	-62,2 k €	-58.8%	-39,1 k €	-78.9%	-21,9 k €
Net result	13,3 M €	+98.3%	6,7 M €	+23.6%	5,4 M €	-3.3%	5,6 M €	-56.8%	13 M €	+438%	2,4 M €	+13.3%	2,1 M €	-70.0%	7,1 M €	+144%	2,9 M €	-49.7%	5,8 M €	+133%	2,5 M €	-11.6%	2,8 M €	-18.0%	3,4 M €	-74.2%	13,3 M €	+212%	4,3 M €	+435%	-1,3 M €	-126%	4,9 M €	+127%	2,1 M €	-49.2%	4,2 M €	+127%	1,9 M €
Balance sheet
Equity	61,8 M €	+17.7%	52,5 M €	+5.4%	49,8 M €	-2.3%	51 M €	+3.3%	49,4 M €	+12.5%	43,9 M €	+5.8%	41,5 M €	+1.5%	40,8 M €	+0.2%	40,7 M €	-19.8%	50,8 M €	+5.8%	48 M €	+5.5%	45,6 M €	+1.4%	45 M €	+8.2%	41,5 M €	+47.1%	28,2 M €	+17.7%	24 M €	-5.0%	25,3 M €	+23.9%	20,4 M €	+11.7%	18,2 M €	+30.0%	14 M €
Total assets	66 M €	+16.4%	56,7 M €	+0.2%	56,5 M €	+2.6%	55,1 M €	+3.0%	53,5 M €	+21.6%	44 M €	+2.2%	43,1 M €	+5.2%	40,9 M €	-14.4%	47,8 M €	-6.0%	50,8 M €	+5.8%	48,1 M €	+5.4%	45,6 M €	+1.4%	45 M €	+8.3%	41,5 M €	+47.1%	28,2 M €	+17.7%	24 M €	-5.0%	25,3 M €	+23.9%	20,4 M €	+11.8%	18,2 M €	+30.0%	14 M €
Cash	443,2 k €	+42.2%	311,8 k €	-16.2%	371,8 k €	-52.9%	789,5 k €	-62.1%	2,1 M €	+13.1%	1,8 M €	+4880%	36,9 k €	-98.5%	2,5 M €	-25.5%	3,3 M €	-13.2%	3,8 M €	+272%	1 M €	-49.6%	2 M €	+41.0%	1,4 M €	-11.1%	1,6 M €	+3580%	44,2 k €	+34.4%	32,9 k €	-98.5%	2,3 M €	+3393%	64,9 k €	-91.6%	776,5 k €	+124%	347 k €
Debts	4,1 M €	-0.2%	4,1 M €	-38.3%	6,7 M €	+63.3%	4,1 M €	+0.1%	4,1 M €	+3856%	103,9 k €	-93.4%	1,6 M €	+1821%	82,4 k €	-98.8%	7,1 M €	+69587%	10,1 k €	+0.5%	10,1 k €	-51.6%	20,9 k €	+91.8%	10,9 k €	+198%	3,6 k €	+44.2%	2,5 k €	+4.1%	2,4 k €	+12.3%	2,2 k €	-69.4%	7,1 k €	+175%	2,6 k €	+5.9%	2,4 k €
Other
Workforce	2,8 ETP	0.0%	2,8 ETP	0.0%	2,8 ETP	-6.7%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	+200%	1,0 ETP		–		–		1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 19 ended

Active mandates

Stéphanie LEYSEN

Director · since 09 juin 2025 · until 12 juin 2028

Active

Thomas LEYSEN

Director · since 09 juin 2025 · until 12 juin 2028

Active

Felicity Consult

Managing director · since 01 novembre 2023 · until 08 juin 2026 · 0791.504.360

Represented by Filip Platteeuw

Active

EXCELLENT MULTI MEDIAS, INFORMATION SYSTEMS, LINKS AND NETWORKS FOR EXECUTIVES

Director · since 12 juin 2023 · until 08 juin 2026 · 0456.856.934

Represented by Bruno de Cartier

Active

Christophe LEYSEN

Director · since 24 février 2023 · until 08 juin 2026

Active

Ended mandates

Stéphanie LEYSEN

Director · since 13 juin 2022 · until 09 juin 2025

Ended

Thomas LEYSEN

Director · since 13 juin 2022 · until 09 juin 2025

Ended

EXCELLENT MULTI MEDIAS, INFORMATION SYSTEMS, LINKS AND NETWORKS FOR EXECUTIVES

Managing director · since 08 juin 2020 · until 12 juin 2023 · 0456.856.934

Represented by Bruno de Cartier

Ended

Alexia LEYSEN

Director · since 10 juin 2019 · until 13 juin 2022

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/06/2026	11/06/2025	10/06/2024	15/06/2023	13/06/2022	17/06/2021
General meeting	08/06/2026	09/06/2025	10/06/2024	12/06/2023	13/06/2022	14/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

28 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	08/06/2026	08/06/2026	Dutch	PDF
Consolidated accounts	31/12/2025	08/06/2026	08/06/2026	Dutch	PDF
Full model	31/12/2024	09/06/2025	11/06/2025	Dutch	PDF
Consolidated accounts	31/12/2024	—	11/06/2025	Dutch	PDF
Full model	31/12/2023	10/06/2024	10/06/2024	Dutch	PDF
Consolidated accounts	31/12/2023	10/06/2024	17/06/2024	Dutch	PDF
Full model	31/12/2022	12/06/2023	15/06/2023	Dutch	PDF
Consolidated accounts	31/12/2022	12/06/2023	31/07/2023	Dutch	PDF
Full model	31/12/2021	13/06/2022	13/06/2022	Dutch	PDF
Consolidated accounts	31/12/2021	20/06/2022	22/06/2022	Dutch	PDF
Full model	31/12/2020	14/06/2021	16/06/2021	Dutch	PDF
Consolidated accounts	31/12/2020	14/06/2021	17/06/2021	Dutch	PDF
Full model	31/12/2019	08/06/2020	16/06/2020	Dutch	PDF
Consolidated accounts	31/12/2019	30/06/2020	10/07/2020	Dutch	PDF
Full model	31/12/2018	10/06/2019	19/06/2019	Dutch	PDF
Consolidated accounts	31/12/2018	10/06/2019	04/07/2019	Dutch	PDF
Full model	31/12/2017	12/03/2018	27/03/2018	Dutch	PDF
Abridged model	31/03/2017	04/09/2017	19/10/2017	Dutch	PDF
Abridged model	31/03/2016	05/09/2016	24/10/2016	Dutch	PDF
Abridged model	31/03/2015	07/09/2015	21/10/2015	Dutch	PDF
Abridged model	31/03/2014	01/09/2014	29/09/2014	Dutch	PDF
Abridged model	31/03/2013	30/09/2013	25/10/2013	Dutch	PDF
Abridged model	31/03/2012	03/09/2012	06/09/2012	Dutch	PDF
Abridged model	31/03/2011	05/09/2011	03/10/2011	Dutch	PDF

View all 28 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 M€

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 31/12/2025 · 5 active · 19 ended

Active mandates

Stéphanie LEYSEN

Director · since 09 juin 2025 · until 12 juin 2028

Active

Thomas LEYSEN

Director · since 09 juin 2025 · until 12 juin 2028

Active

Felicity Consult

Managing director · since 01 novembre 2023 · until 08 juin 2026 · 0791.504.360

Represented by Filip Platteeuw

Active

EXCELLENT MULTI MEDIAS, INFORMATION SYSTEMS, LINKS AND NETWORKS FOR EXECUTIVES

Director · since 12 juin 2023 · until 08 juin 2026 · 0456.856.934

Represented by Bruno de Cartier

Active

Christophe LEYSEN

Director · since 24 février 2023 · until 08 juin 2026

Active

Ended mandates

Stéphanie LEYSEN

Director · since 13 juin 2022 · until 09 juin 2025

Ended

Thomas LEYSEN

Director · since 13 juin 2022 · until 09 juin 2025

Ended

EXCELLENT MULTI MEDIAS, INFORMATION SYSTEMS, LINKS AND NETWORKS FOR EXECUTIVES

Managing director · since 08 juin 2020 · until 12 juin 2023 · 0456.856.934

Represented by Bruno de Cartier

Ended

Alexia LEYSEN

Director · since 10 juin 2019 · until 13 juin 2022

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other30/06/2026
—
PDF
Mandates19/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other20/09/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Mandates29/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/12/2023
ONTSLAGEN - BENOEMINGEN
PDF
Other28/06/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates07/04/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/10/2022
ONTSLAGEN - BENOEMINGEN
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

2025
Annual accounts 202513,3 M €↑
09/06/2025
reconductionThomas Leysen — bestuurder
09/06/2025
reconductionStéphanie Leysen — bestuurder
09/06/2025
nominationKPMG Bedrijfsrevisoren BV/SRL — commissaris
2024
Annual accounts 20246,7 M €↑
2024
Name changeCapstone Partners
2023
Annual accounts 20235,4 M €↓
01/11/2023
nominationFelicity Consult — bestuurder
01/11/2023
nominationFelicity Consult — gedelegeerd bestuurder
12/06/2023
reconductionThomas Leysen — Bestuurder
12/06/2023
reconductionE-Mile BV — Bestuurder
24/02/2023
nominationChristophe Leysen — bestuurdersmandaat
2022
Annual accounts 20225,6 M €↓
13/06/2022
reconductionThomas Leysen — bestuurder
13/06/2022
reconductionStéphanie Leysen — bestuurder
13/06/2022
reconductionKPMG Bedrijfsrevisoren BV — commissaris
2021
Annual accounts 202113 M €↑
2021
Name changeTradicor
2020
Annual accounts 20202,4 M €↑
2019
Annual accounts 20192,1 M €↓
2018
Annual accounts 20187,1 M €↑
2017
Annual accounts 20172,9 M €↓
2017
Annual accounts 20175,8 M €↑
2016
Annual accounts 20162,5 M €↓
2015
Annual accounts 20152,8 M €↓
2014
Annual accounts 20143,4 M €↓
2013
Annual accounts 201313,3 M €↑
2012
Annual accounts 20124,3 M €↑
2011
Annual accounts 2011-1,3 M €↓
2010
Annual accounts 20104,9 M €↑
2009
Annual accounts 20092,1 M €↓
2008
Annual accounts 20084,2 M €↑
2007
Annual accounts 20071,9 M €
08/01/1986
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Capstone Partners

Overview

What does Capstone Partners do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline