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 52 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 2.8 to 2.3.
-
Busy address KBO
40 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Phicap Group from Watermaal-Bosvoorde, company number BE0794472263, closed financial year 2025 with a result of € 251,608 after tax. For that financial year Phicap Group recorded a gross margin of € 356,601 and equity of € 608,134. Compared with financial year 2024, the result moved from € 245,590 to € 251,608. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 608,134
▼ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 251,608
▲ 2% vs 2024
Profit after tax over the fiscal year.
€ 61,414
▼ 23% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 270,000 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
2.3
▼ 0.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 224,912
▲ 4% vs 2024
€ 97,800 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.
€ 84,372
▼ 5% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.4 million
▲ 57% vs 2024
€ 229,679 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 406,729
▲ 172% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 61,500
▼ 15% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Gross margin | € 316,818 | € 314,955 | € 356,601 | ▲ 13% |
| Profit after taxes | € 68,707 | € 245,590 | € 251,608 | ▲ 2% |
| Equity | € 426,379 | € 628,341 | € 608,134 | ▼ 3% |
| Total debts | € 1,193,201 | € 1,331,580 | € 2,630,735 | ▲ 98% |
| Cash | € 9,100 | € 80,145 | € 61,414 | ▼ 23% |
| Retained profit | € 261,178 | € 466,769 | € 448,376 | ▼ 4% |
| Dividend | € 41,475 | € 40,000 | € 270,000 | ▲ € 230,000 |
| Bank debt | € 831,686 | € 865,874 | € 1,356,948 | ▲ 57% |
| Balance sheet total | € 1,623,951 | € 1,963,082 | € 3,241,425 | ▲ 65% |
| Employees (FTE) | 2.8 | 2.7 | 2.3 | ▼ 0.4 |
Key figures of Phicap Group, fiscal years 2023 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 Phicap Group?
What happened at Phicap Group in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Michael GOLDBERG stepped down as director. NBB
- Rikkert LEEMAN stepped down as director. NBB
- Pascal WUILLAUME stepped down as director. NBB
- Agnès SCHREDER stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 251,608 (▲ 2% vs 2024). Source: NBB ↗
- Rikkert LEEMAN became a director. NBB
- Pascal WUILLAUME became a director. NBB
- Agnès SCHREDER became a director. NBB
In short
From € 68,707 profit in 2023 to € 251,608 profit in 2025.
Paid € 45,216 in corporate taxes since 2023.
Best year ever: 2025, with € 251,608 profit.
On average € 155,000 of value added per employee in 2025.
A new publication or filing at Phicap Group? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
It owns 100% of PHICAP PROPERTY MANAGEMENT, 100% of PHICAP PROJECT MANAGEMENT, 80% of PHICAP LUXEMBOURG and 51% of PHICAP INVESTMENT MANAGEMENT itself.
Directors
According to the 2025 annual accounts
Rikkert LEEMAN
Director
since 2023 · until 2028
Pascal WUILLAUME
Director
since 2023 · until 2028
Agnès SCHREDER
Director
since 2023 · until 2028
since 2022 · until 2029
Establishments
Establishment units
Physical locations of this company
Vorstlaan 100
1170 Watermaal-Bosvoorde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 40 companies are registered at this address.
All companies at this address →Alcotra Holding
SHEARSON LEHMAN GLOBAL ASSET MANAGEMENT
ALCODIS
€ 905.3 million revenue · 2025
MOREAU ET ASSOCIES
€ 27,360 gross margin · 2025
COFACE BELGIUM SERVICES
€ 5 million revenue · 2025
+35 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
phicap.eu
Registrar
GANDI
Website info
Features
Security
Details
- Company number
- 0794.472.263
- VAT number
- BE 0794.472.263
- Registered office
- Vorstlaan 100, 1170 Watermaal-Bosvoorde
- Names & denominations
- Phicap Group
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 December 2022
- Peppol
- Active · Active since 27 Mar 2026
- Contact
- phicap.eu
- Activities · NACE
Activiteiten van holdings
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Holdings
Diverse administratieve activiteiten ten behoeve van kantoren
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering