ACTIVE

CAP

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Financial year 2025 · closed on 30/09/2025

Net result

23,7 M €

+8292.9% YoY

Gross margin

205,2 k €

+5.4% YoY

Equity

69 M €

+52.4% YoY

Workforce

1,7 ETP

0.0% YoY

What does CAP do?

CAP is a Public limited company incorporated in 1996. Its main activity is: Activities of holding companies. Its registered office is in Antwerpen. It employs on average 1,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0458.688.056

Incorporation

27/08/1996

Legal form

Public limited company

Registered office

IJzerenwaag 12A
2000 Antwerpen · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

30/09/2025

Average workforce

1,7 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities 74151Specialised design activities 70200Management consultancy activities+1

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	205,2 k €	+5.4%	194,6 k €	+5.9%	183,8 k €	-16.5%	220,1 k €	+4.9%	209,8 k €	+36.0%	154,2 k €	-6.9%	165,7 k €	+181%	58,9 k €	+915%	-7,2 k €	-22.8%	-5,9 k €	-281%	-1,5 k €	-107%	22,9 k €	+11.7%	20,5 k €	+10.6%	18,6 k €	+189%	-21 k €	-124%	87,4 k €	-77.1%	382,3 k €	+94.3%	196,7 k €	+15.3%	170,6 k €	+10.0%	155,1 k €
EBITDA	-12,1 k €	-25.7%	-9,6 k €	+69.2%	-31,3 k €	+33.4%	-47 k €	-22.8%	-38,2 k €	-759%	5,8 k €	-39.7%	9,6 k €	+123%	-42,7 k €	+39.9%	-71 k €	-137%	-29,9 k €	-19.3%	-25,1 k €	-6549%	-377,1 €	+86.8%	-2,9 k €	+47.2%	-5,4 k €	+88.0%	-45,1 k €	-278%	25,3 k €	+120%	-124 k €	-166%	188,9 k €	+13.3%	166,8 k €	+9.7%	152 k €
Operating result	-42,8 k €	-6.1%	-40,4 k €	-2.8%	-39,2 k €	+30.5%	-56,4 k €	-35.8%	-41,6 k €	-1781%	2,5 k €	-60.7%	6,3 k €	+114%	-46,1 k €	+35.2%	-71 k €	-137%	-29,9 k €	-19.3%	-25,1 k €	-6549%	-377,1 €	+91.5%	-4,4 k €	+80.1%	-22,1 k €	+65.6%	-64,4 k €	-1173%	6 k €	+104%	-144,7 k €	-183%	174,1 k €	+4.4%	166,8 k €	+11.5%	149,5 k €
Net result	23,7 M €	+8293%	282,5 k €	-96.8%	8,9 M €	+280%	2,4 M €	-28.6%	3,3 M €	+813%	-461,7 k €	-319%	210,9 k €	-5.3%	222,7 k €	-99.2%	29,5 M €	+28119%	-105,4 k €	-101%	11,2 M €	+21012%	-53,7 k €	+0.6%	-54 k €	-228%	-16,5 k €	+70.8%	-56,3 k €	-536%	12,9 k €	+109%	-137,5 k €	-1401%	10,6 k €	+4.9%	10,1 k €	+191%	-11,1 k €
Balance sheet
Equity	69 M €	+52.4%	45,2 M €	+0.6%	45 M €	+24.8%	36 M €	+7.0%	33,7 M €	-16.6%	40,4 M €	-1.1%	40,8 M €	+0.5%	40,6 M €	+0.6%	40,4 M €	+271%	10,9 M €	-18.1%	13,3 M €	+550%	2 M €	-2.6%	2,1 M €	-2.5%	2,2 M €	-0.8%	2,2 M €	-2.5%	2,2 M €	+0.6%	2,2 M €	-5.9%	2,3 M €	+0.5%	2,3 M €	+0.4%	2,3 M €
Total assets	73,1 M €	+50.3%	48,7 M €	-4.9%	51,2 M €	+24.2%	41,2 M €	-2.9%	42,4 M €	+0.0%	42,4 M €	-1.0%	42,9 M €	+0.8%	42,5 M €	-1.6%	43,2 M €	+192%	14,8 M €	-12.6%	16,9 M €	+223%	5,2 M €	-0.2%	5,3 M €	-10.3%	5,9 M €	+0.9%	5,8 M €	-0.5%	5,8 M €	+2.0%	5,7 M €	-1.6%	5,8 M €	-11.2%	6,6 M €	+3.4%	6,3 M €
Cash	468,6 k €	+4.5%	448,2 k €	+311%	109 k €	-82.4%	620,7 k €	+115%	289,3 k €	+590%	41,9 k €	-23.3%	54,7 k €	+36.7%	40 k €	-49.1%	78,7 k €	-94.5%	1,4 M €	+886%	145 k €	+53.4%	94,5 k €	-9.6%	104,6 k €	+140%	43,5 k €	+58.1%	27,5 k €	-50.4%	55,5 k €	+101%	27,6 k €	-76.6%	118,2 k €	+99.1%	59,4 k €	+2642%	2,2 k €
Debts	4,1 M €	+22.3%	3,3 M €	-45.4%	6,1 M €	+20.1%	5,1 M €	-41.2%	8,7 M €	+326%	2 M €	+0.8%	2 M €	+6.8%	1,9 M €	-32.4%	2,8 M €	-28.5%	3,9 M €	+7.5%	3,6 M €	+13.9%	3,2 M €	+1.4%	3,2 M €	-14.8%	3,7 M €	+1.8%	3,6 M €	+0.7%	3,6 M €	+2.9%	3,5 M €	+1.2%	3,5 M €	-17.7%	4,2 M €	+5.1%	4 M €
Other
Workforce	1,7 ETP	0.0%	1,7 ETP	-15.0%	2,0 ETP	-25.9%	2,7 ETP	0.0%	2,7 ETP	0.0%	2,7 ETP	+3.8%	2,6 ETP	+36.8%	1,9 ETP	+72.7%	1,1 ETP	+120%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	+400%	0,1 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 30/09/2025 · 2 active · 12 ended

Active mandates

Christiane IVO

Director · since 27 mars 2020 · until 27 mars 2026

Active

Emiel Lathouwers

Managing director · since 27 mars 2020 · until 27 mars 2026

Active

Ended mandates

Emiel LATHOUWERS

Director · since 27 mars 2020 · until 27 mars 2026

Ended

Christiane Ivo

Director · since 28 mars 2014 · until 28 mars 2020

Ended

Emiel Lathouwers

Managing director · since 28 mars 2014 · until 28 mars 2020

Ended

KRABBENDIJKE

Director · since 28 mars 2014 · until 28 mars 2020 · 0423.656.507

Represented by Emiel Lathouwers

Ended

At this address

Other companies at this address

Company	CBE no.
ATMOSPHERE● Active	0457.530.192
KRABBENDIJKE● Active	0423.656.507
NIEUWE EIGEN WONING● Active	0707.952.916
ODARE● Active	1011.191.544
SERVICES DEVELOPMENT MANAGEMENT● Active	0452.691.377
The Roastery● Active	0404.837.913

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/04/2026	31/03/2025	02/04/2024	24/04/2023	30/03/2022	30/03/2021
General meeting	27/03/2026	28/03/2025	27/03/2024	31/03/2023	25/03/2022	26/03/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	27/03/2026	02/04/2026	Dutch	PDF
Abridged model	30/09/2024	28/03/2025	31/03/2025	Dutch	PDF
Abridged model	30/09/2023	27/03/2024	02/04/2024	Dutch	PDF
Abridged model	30/09/2022	31/03/2023	24/04/2023	Dutch	PDF
Abridged model	30/09/2021	25/03/2022	30/03/2022	Dutch	PDF
Abridged model	30/09/2020	26/03/2021	30/03/2021	Dutch	PDF
Abridged model	30/09/2019	27/03/2020	24/04/2020	Dutch	PDF
Abridged model	30/09/2018	22/03/2019	27/03/2019	Dutch	PDF
Abridged model	30/09/2017	23/03/2018	26/03/2018	Dutch	PDF
Abridged model	30/09/2016	24/03/2017	27/03/2017	Dutch	PDF
Abridged model	30/09/2015	25/03/2016	18/04/2016	Dutch	PDF
Abridged model	30/09/2014	27/03/2015	30/03/2015	Dutch	PDF
Abridged model	30/09/2013	28/03/2014	16/04/2014	Dutch	PDF
Abridged model	30/09/2012	22/03/2013	04/04/2013	Dutch	PDF
Abridged model	30/09/2011	23/03/2012	18/04/2012	Dutch	PDF
Abridged model	30/09/2010	25/03/2011	19/04/2011	Dutch	PDF
Abridged model	30/09/2009	26/03/2010	29/03/2010	Dutch	PDF
Abridged model	30/09/2008	27/03/2009	05/05/2009	Dutch	PDF
Abridged model	30/09/2007	28/03/2008	23/04/2008	Dutch	PDF
Abridged model	30/09/2006	23/03/2007	20/04/2007	Dutch	PDF

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 30/09/2025 · 2 active · 12 ended

Active mandates

Christiane IVO

Director · since 27 mars 2020 · until 27 mars 2026

Active

Emiel Lathouwers

Managing director · since 27 mars 2020 · until 27 mars 2026

Active

Ended mandates

Emiel LATHOUWERS

Director · since 27 mars 2020 · until 27 mars 2026

Ended

Christiane Ivo

Director · since 28 mars 2014 · until 28 mars 2020

Ended

Emiel Lathouwers

Managing director · since 28 mars 2014 · until 28 mars 2020

Ended

KRABBENDIJKE

Director · since 28 mars 2014 · until 28 mars 2020 · 0423.656.507

Represented by Emiel Lathouwers

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Registered office17/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - MAATSCHAPPELIJKE ZETEL
PDF
Mandates16/06/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares12/08/2016
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates25/07/2014
ONTSLAGEN - BENOEMINGEN
PDF
Registered office13/02/2014
MAATSCHAPPELIJKE ZETEL
PDF
Other01/02/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates21/10/2010
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

27/03/2026
reconductionLathouwers Emiel — bestuurder
27/03/2026
reconductionIvo Christiane — bestuurder
2025
Annual accounts 202523,7 M €↑
2024
Annual accounts 2024282,5 k €↓
2023
Annual accounts 20238,9 M €↑
2022
Annual accounts 20222,4 M €↓
2021
Annual accounts 20213,3 M €↑
2020
Annual accounts 2020-461,7 k €↓
2019
Annual accounts 2019210,9 k €↓
2018
Annual accounts 2018222,7 k €↓
2017
Annual accounts 201729,5 M €↑
2016
Annual accounts 2016-105,4 k €↓
2015
Annual accounts 201511,2 M €↑
2014
Annual accounts 2014-53,7 k €↑
2013
Annual accounts 2013-54 k €↓
2012
Annual accounts 2012-16,5 k €↑
2011
Annual accounts 2011-56,3 k €↓
2010
Annual accounts 201012,9 k €↑
2009
Annual accounts 2009-137,5 k €↓
2008
Annual accounts 200810,6 k €↑
2007
Annual accounts 200710,1 k €↑
2006
Annual accounts 2006-11,1 k €
27/08/1996
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

CAP

Overview

What does CAP 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