Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 2.1 to 1.
Financials
Financial year 2025
Capital-X from Aalst, company number BE0736590977, closed financial year 2025 with a result of € 328,421 after tax. For that financial year Capital-X recorded a gross margin of € 101,525 and equity of € 490,850. Compared with financial year 2024, the result moved from € -40,910 to € 328,421. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 11, 2026.
€ 490,850
▲ 202% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 328,421
▲ still € 40,910 loss in 2024
Profit after tax over the fiscal year.
€ 9,055
▲ 298% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 485,850.
People and assets in 2025
1
▼ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 100,032
▼ 27% vs 2024
€ 100,000 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.
Debts at end 2025
€ 1.1 million
▼ 23% vs 2024
€ 11,950 is repaid this year. At this pace the long-term loan is gone in ≈ 93 years.
€ 30,286
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 19,635
▼ 15% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 80,668 | € 127,322 | € 101,734 | € 101,525 | |
| Profit after taxes | € 90,884 | € -52,512 | € -40,910 | € 328,421 | ▲ € 369,332 |
| Equity | € 255,850 | € 203,339 | € 162,428 | € 490,850 | ▲ 202% |
| Total debts | € 1,593,231 | € 1,483,244 | € 1,493,531 | € 1,459,069 | ▼ 2% |
| Cash | € 10,630 | € 12,569 | € 2,274 | € 9,055 | ▲ 298% |
| Retained profit | € 250,850 | € 198,339 | € 157,428 | € 485,850 | ▲ 209% |
| Bank debt | € 1,497,481 | € 11,773 | € 1,433,960 | € 1,106,148 | ▼ 23% |
| Balance sheet total | € 1,849,082 | € 1,686,582 | € 1,655,960 | € 1,949,919 | ▲ 18% |
| Employees (FTE) | 2.1 | 2.1 | 1.7 | 1 | ▼ 0.7 |
Key figures of Capital-X, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Capital-X?
What happened at Capital-X in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 328,421. filed late Source: NBB ↗
- Maja Group NV became a director. NBB
- BS Covery NV became a director. NBB
- ADGV NV became a director. NBB
- Dazzle BV stepped down as director. NBB
- WIN-Management BV stepped down as director. NBB
- New establishment in Aalst. KBO
- Start of the company according to the CBE. KBO
In short
From € 90,884 profit in 2022 to € 328,421 profit in 2025.
Best year ever: 2025, with € 328,421 profit.
On average € 101,500 of value added per employee in 2025.
Management
Behind Capital-X are Maja Group NV, BS Covery NV and ADGV NV. It owns 100% of Caractère itself.
Directors
According to the 2025 annual accounts
Director · represented by François le Hodey
Also active at: MICRO - FM, ASSOCIATION DES GRANDS VOYAGEURS- VERENIGING VOOR GROTE REIZIGERS, FM DEVELOPPEMENT, WantoTravel, CARACTERE, IPM RADIO, LES NEWS 24
since 2026
Director · represented by Alexis le Hodey
Also active at: ATLAS REIZEN, ASSOCIATION DES GRANDS VOYAGEURS- VERENIGING VOOR GROTE REIZIGERS, WORLD OF TRAVEL, CARACTERE
since 2026
since 2026
Director · represented by Ilona Stieners
· until 2026
Director · represented by Wim Vancauter
· until 2026
Establishments
Establishment units
Physical locations of this company
Korte Keppestraat 19
9320 Aalst
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →CARACTERE same network
€ 1.2 million gross margin · 2025
Bluecrux International
€ 13 million revenue · 2025
BLUECRUX GROUP
BLUECRUX GLOBAL
'T Nieuw Schrijntje
€ 54,848 gross margin · 2025
+4 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
- 0736.590.977
- VAT number
- BE 0736.590.977
- Registered office
- Korte Keppestraat 19, 9320 Aalst
- Names & denominations
- Capital-X
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 21 October 2019
- Peppol
- Active · Active since 22 Oct 2025
- Activities · NACE
Activiteiten van holdings
Holdings
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