C A D
ActiveSummary
C A D has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €129,943 and a net result of -€10,245. Equity is shrinking by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability9▼-86
Solvency100=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 83.8; short-term debt: 1.1% and cash: 85.8% of total assets), and 1.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
27 d late
2023
30 d late
2022
28 d early
2021
46 d early
2020
39 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€45,618
EBIT margin
75.8%
Net result
-€10,245
2024 · €26,230
Working capital
€115,168▲ 17.6%
2023 · €97,923
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€45,618
Operating result€31,317▲ 1.5%€29,846▼ 4.7%€32,595▲ 9.2%€34,579▲ 6.1%-€11,380
Net result€23,704▲ 11.6%€19,675▼ 17.0%€21,984▲ 11.7%€26,230▲ 19.3%-€10,245
EBIT margin75.8%
Equity€72,299▼ 57.1%€91,975▲ 27.2%€113,958▲ 23.9%€140,188▲ 23.0%€129,943▼ 7.3%
Total assets€200,590▼ 25.7%€96,546▼ 51.9%€121,571▲ 25.9%€140,188▲ 15.3%€131,334▼ 6.3%
Debt€128,291▲ 26.4%€4,572▼ 96.4%€7,613▲ 66.5%€1,391
Working capital€55,004▼ 63.5%€75,309▲ 36.9%€97,923▲ 30.0%€115,168
Why a figure moved sharply
- 2022 Total assets -52% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €11,380 after €34,579 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €131,334
Fixed assets
€14,775 ▼ 4.1%
Current assets
€116,559 ▼ 6.6%
Equity and liabilities €131,334
Equity
€129,943
Debt
€1,391
Debt finances 1.1% of the balance-sheet total.
Key figures and ratios
EBITDA
-€10,750▼
2024 · €35,209
Cash flow
-€9,615▼
2024 · €26,860
Current ratio
83.80
Debt to equity
0.01
ROE
-7.9%▼
2024 · 18.7%
ROA
-7.8%▼
2024 · 18.7%
Interest coverage
-158.09▼
2024 · 495.90
Debt ≤ 1 year
€1,391
Income taxes
€478▼
2024 · €8,278
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,304 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €45,618 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €3,004 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €630 | €630 | €630 | €630 | €630 | = |
| Other operating charges640/8 | €6,461 | €6,924 | €7,248 | €7,406 | €8,373 | ▲ 13.1% |
| Gross operating margin9900 | €38,408 | €37,400 | €40,473 | €42,614 | -€2,377 | ▼ 106% |
| Operating profit (loss)9901 | €31,317 | €29,846 | €32,595 | €34,579 | -€11,380 | ▼ 133% |
| Financial income75/76B | - | - | - | - | €1,681 | - |
| Recurring financial income75 | - | - | - | - | €1,681 | - |
| Financial charges65/66B | €173 | €99 | €70 | €71 | €68 | ▼ 4.2% |
| Recurring financial charges65 | €173 | €99 | €70 | €71 | €68 | ▼ 4.2% |
| Profit (loss) for the period before taxes9903 | €31,144 | €29,747 | €32,525 | €34,508 | -€9,767 | ▼ 128% |
| Income taxes67/77 | €7,440 | €10,072 | €10,541 | €8,278 | €478 | ▼ 94.2% |
| Profit (loss) for the period9904 | €23,704 | €19,675 | €21,984 | €26,230 | -€10,245 | ▼ 139% |
| Profit (loss) for the period to be appropriated9905 | €23,704 | €19,675 | €21,984 | €26,230 | -€10,245 | ▼ 139% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €200,590 | €96,546 | €121,571 | €140,188 | €131,334 | ▼ 6.3% |
| Fixed assets21/28 | €17,295 | €16,665 | €16,035 | €15,405 | €14,775 | ▼ 4.1% |
| Tangible fixed assets22/27 | €17,295 | €16,665 | €16,035 | €15,405 | €14,775 | ▼ 4.1% |
| Land and buildings22 | €17,295 | €16,665 | €16,035 | €15,405 | €14,775 | ▼ 4.1% |
| Current assets29/58 | €183,295 | €79,881 | €105,536 | €124,783 | €116,559 | ▼ 6.6% |
| Amounts receivable within one year40/41 | €1,164 | €850 | - | €3,847 | €3,873 | ▲ 0.7% |
| Other amounts receivable41 | €1,164 | €850 | - | €3,847 | €3,873 | ▲ 0.7% |
| Current investments50/53 | - | - | - | €101,000 | - | - |
| Cash at bank and in hand54/58 | €182,131 | €79,031 | €105,536 | €19,936 | €112,656 | ▲ 465% |
| Deferred charges and accrued income490/1 | - | - | - | - | €30 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €200,590 | €96,546 | €121,571 | €140,188 | €131,334 | ▼ 6.3% |
| Equity10/15 | €72,299 | €91,975 | €113,958 | €140,188 | €129,943 | ▼ 7.3% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €6,197 | €30,001 | €48,232 | €47,856 | €47,857 | = |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,198 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,198 | = |
| Distributable reserves133 | - | €23,804 | €42,034 | €41,659 | €41,659 | = |
| Profit (loss) carried forward14 | €4,129 | - | €3,753 | €30,358 | €20,113 | ▼ 33.7% |
| Amounts payable17/49 | €128,291 | €4,572 | €7,613 | - | €1,391 | - |
| Amounts payable within one year42/48 | €128,291 | €4,572 | €7,613 | - | €1,391 | - |
| Trade debts44 | - | - | - | - | €554 | - |
| Suppliers440/4 | - | - | - | - | €554 | - |
| Taxes, remuneration and social security45 | €44,291 | €4,572 | €7,613 | - | €735 | - |
| Taxes450/3 | €44,291 | €4,572 | €7,613 | - | €735 | - |
| Other amounts payable47/48 | €84,000 | - | - | - | €102 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,704 | €19,675 | €21,984 | €26,230 | -€10,245 | ▼ 139% |
| + Depreciation and write-downs630 | €630 | €630 | €630 | €630 | €630 | = |
| Operating cash flow (approximation) | €24,334 | €20,305 | €22,614 | €26,860 | -€9,615 | ▼ 136% |
| Investment in fixed assets (approximation) | - | -€0 | €0 | €0 | €0 | - |
| Change in cash | - | -€103,100 | €26,505 | -€85,600 | €92,720 | ▲ 208% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet -€10,245
Net result drops to -€10,245, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Highest result since 2018net €26,230 ▲19.3%
Operating result €34,579, net result €26,230, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Equity above €100,000Eq €113,958 ▲23.9%
6 profitable years in a row build equity to €113,958.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 12current ratio 17.47
Current ratio from 1.43 to 17.47; short-term debt falls from €128,291 to €4,572.
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity times 122current ratio 3057.23
Current ratio from 25.13 to 3057.23; short-term debt falls from €8,542 to €75.
Show earlier events
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aubange · 1 establishment unit since 1996
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de la Fraternité - HALANZY 286792 Aubange1 establishment unit
Rue de la Fraternité - HALANZY 28, 6792 Aubange
since 19962.076.422.481
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,907. 5,249 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-04-1996
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0457842671
Registered
22-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.