Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 61 % of short-term debt in 2026; threshold 65 %.
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Busy address KBO
19 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
CAP 48 from Schaarbeek, company number BE0406603610, closed financial year 2026 with a result of € -28,576 after tax. Compared with financial year 2025, the result moved from € 50,088 to € -28,576. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 10, 2026.
€ 356,497
▼ 7% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -28,576
▼ still € 50,088 profit in 2025
Profit after tax over the fiscal year.
€ 11.1 million
▲ 159% vs 2025
Cash and bank balances on the last day of the fiscal year.
People and assets in 2026
21.3
▲ 0.1 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▲ 5% vs 2025
€ 85,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 3,845
▲ € 3,247 vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
None
No bank loans on the last day of the fiscal year.
€ 478,485
▲ € 366,321 vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 78 days on average.
€ 229,170
▲ 3% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Profit after taxes | € -290,122 | € -68,626 | € 50,088 | € -28,576 | ▼ € 78,664 |
| Equity | € 403,611 | € 334,985 | € 385,073 | € 356,497 | ▼ 7% |
| Total debts | € 18,758,970 | € 18,052,842 | € 19,301,919 | € 21,315,315 | ▲ 10% |
| Cash | € 6,100,646 | € 2,140,166 | € 4,267,195 | € 11,072,332 | ▲ 159% |
| Retained profit | € 403,611 | € 334,985 | € 385,073 | € 356,497 | ▼ 7% |
| Balance sheet total | € 19,162,581 | € 18,387,827 | € 19,686,992 | € 21,671,812 | ▲ 10% |
| Employees (FTE) | 18.4 | 20.1 | 21.2 | 21.3 | ▲ 0.1 |
Key figures of CAP 48, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to CAP 48?
What happened at CAP 48 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Baptiste Erkes stepped down as director. NBB
- Eric Willaye stepped down as director. NBB
- Christine Gehenot stepped down as director. NBB
- Benoit Parmentier stepped down as director. NBB
- Jean-Philippe ROUSSEAU stepped down as director. NBB
- Noémie Van Erps stepped down as director. NBB
- New annual accounts for financial year 2026: loss of € 28,576 (▼ € 78,664 vs 2025). Source: NBB ↗
- Vincent CRABBE stepped down as director. NBB
In short
From € 290,122 loss in 2023 to € 28,576 loss in 2026.
Paid € 378,739 in corporate taxes since 2023.
Best year ever: 2025, with € 50,088 profit.
Pays suppliers within 78 days on average.
Management
Directors
According to the 2026 annual accounts
Vincent CRABBE
Director
since 2023 · until 2026
Baptiste Erkes
Director
Also active at: REGIE MEDIA BELGE, Belgian Media Ventures, FINANCIERE REYERS
since 2025 · until 2028
Véronique VIERSET
Director
since 2023 · until 2026
John STOEFS
Director
since 2023 · until 2026
since 2023 · until 2026
since 2023 · until 2026
Eric Willaye
Director
since 2025 · until 2028
since 2023 · until 2026
Magali FLAMAND
Director
since 2023 · until 2026
since 2023 · until 2026
Christine Gehenot
Director
since 2025 · until 2028
since 2025 · until 2028
Véronique GHESQUIERE
Director
since 2023 · until 2026
Jean-Philippe ROUSSEAU
Chairman of the board, Director
Also active at: REGIE MEDIA BELGE, WALLIMAGE, DREAMWALL
since 2025 · until 2028
since 2025 · until 2028
since 2023 · until 2026
Helmut HEINEN
Director
since 2023 · until 2026
Establishments
Establishment units
Physical locations of this company
Auguste Reyerslaan 52
1030 Schaarbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 19 companies are registered at this address.
All companies at this address →De Vlaamse Radio- en Televisieomroeporganisatie
€ 491.7 million revenue · 2025
LES OEUVRES SOCIALES DE LA RADIO - TELEVISION BELGE DE LA COMMUNAUTE FRANCAISE
€ 0 revenue · 2025
Cercle du Laboratoire de la Radio - Télévision belge de la Communauté culturelle francaise(RTBF)
Etude pour une Télévision communautaire régionale à Bruxelles
Activités sociales et de Loisirs du Site R.T.B.F. de Bruxelles
+14 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0406.603.610
- VAT number
- BE 0406.603.610
- Registered office
- Auguste Reyerslaan 52, 1030 Schaarbeek
- Names & denominations
- CAP 48 · CAP48
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 10 June 1969
- Peppol
- Active · Active since 26 Mar 2026
- Activities · NACE
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