Equity
C-DEV has made a profit without a break since 2018.
C-DEV has made a profit without a break since 2018.
Of this, €4.5m falls due within a year.
Lower solvency than 80% of companies in retail trade. Sector median 36.6% · 12,856 companies.
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 25% of them on solvency, 11% on liquidity, 33% on profitability and 75% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,375 companies had the same profile as C-DEV has now. Each dot stands for 4 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of C-DEV itself is lower: 0.4% within 12 months. It rests on far more data about C-DEV than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,375 companies, not a prediction for C-DEV. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is tight, with a current ratio of 1.13 (1.18 in 2024), below the usual 1.5. Short-term debt is 88.7% and cash 7.2% of total assets. 92% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 16 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| C-DEV Ichtegem | €5.1m | €193,213 | 8.0% | 0.2 |
| IZCI MOTORS Ghent | €3.3m | €259,266 | 28.2% | 0 |
| BJORN SYX Poperinge | €4.2m | €381,544 | 13.7% | 0.8 |
| 82 Motors Tielt | €2.2m | €91,722 | 12.3% | 0.3 |
| Demunster Automotive Zwevegem | €3.7m | €415,796 | 10.1% | 1 |
| DGA CARS Dilsen-Stokkem | €2.3m | €298,530 | 51.3% | 0.6 |
| RENESSENCE GROUP Menen | €2.0m | €202,963 | 42.2% | 1 |
These companies have the same main activity as C-DEV: retail sale of cars and light vans (up to 3.5 tonnes) (NACE 47811). They are comparable in size and age: total assets between €2m and €4.2m, founded between 2013 and 2019.
C-DEV files the abbreviated format. That format states no turnover. The gross margin rose from €144,398 in 2017 to €193,213 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.2m. Estimated: probably between €680,000 and €2.6m.
Higher than 19% of 12,856 companies in 2025.
Higher than 32% of 12,646 companies in 2025.
Higher than 35% of 12,719 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter · Staff: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, nobody joined and 1 person left. Training hours in 2025: 2.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
5.1m | 3.7m | 3.0m | 3.4m | 2.8m | 3.7m | 1.8m | 377,203 | |
21/28 |
3,551 | 5,432 | 8,188 | 8,764 | 10,307 | 6,164 | 8,651 | 10,229 | |
21 |
3,551 | 5,151 | 6,751 | 72 | 359 | 1,037 | 1,424 | 375 | |
22/27 |
0 | 281 | 1,437 | 2,692 | 3,948 | 5,127 | 7,227 | 9,854 | |
23 |
0 | 111 | 589 | 1,166 | 1,743 | 4,497 | - | - | |
24 |
0 | 170 | 848 | 1,526 | 2,205 | 630 | 7,227 | 9,854 | |
28 |
- | - | 0 | 6,000 | 6,000 | - | - | - | |
29/58 |
5.1m | 3.7m | 3.0m | 3.4m | 2.8m | 3.7m | 1.8m | 366,974 | |
3 |
1.0m | 2.0m | 1.8m | 1.5m | 798,289 | 1.7m | 789,520 | - | |
30/36 |
1.0m | 2.0m | 1.8m | 1.5m | 798,289 | 1.7m | 789,520 | - | |
40/41 |
3.7m | 1.1m | 1.1m | 1.8m | 1.5m | 1.8m | 913,768 | 228,807 | |
40 |
769,696 | 1.0m | 1.1m | 1.3m | 1.3m | 1.5m | 874,551 | 93,874 | |
41 |
2.9m | 41,995 | 859 | 428,076 | 234,839 | 295,911 | 39,217 | 134,934 | |
54/58 |
363,344 | 580,392 | 97,392 | 140,418 | 440,185 | 155,807 | 99,907 | 135,496 | |
490/1 |
3,856 | 3,576 | 3,739 | 8,642 | - | - | - | 2,671 | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
5.1m | 3.7m | 3.0m | 3.4m | 2.8m | 3.7m | 1.8m | 377,203 | |
10/15 |
402,135 | 326,832 | 254,623 | 156,310 | 43,645 | 13,025 | 8,101 | 4,791 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 12,400 | 12,400 | 12,400 | |
13 |
390,000 | 315,000 | 240,000 | 140,000 | 6,460 | 6,460 | 1,860 | - | |
130/1 |
- | - | - | - | 0 | - | - | - | |
130 |
- | - | - | - | - | 1,860 | 1,860 | - | |
1311 |
- | - | - | - | 0 | - | - | - | |
133 |
390,000 | 315,000 | 240,000 | 140,000 | 6,460 | 4,600 | - | - | |
14 |
5,935 | 5,632 | 8,423 | 10,110 | 30,985 | 365 | 41 | -1,409 | |
17/49 |
4.7m | 3.4m | 2.7m | 3.2m | 2.7m | 3.7m | 1.8m | 372,413 | |
17 |
149,658 | 223,364 | - | - | - | - | - | - | |
170/4 |
149,658 | 223,364 | - | - | - | - | - | - | |
42/48 |
4.5m | 3.1m | 2.7m | 3.2m | 2.7m | 3.7m | 1.8m | 372,413 | |
42 |
73,706 | 70,856 | 0 | 1.0m | 800,000 | 1.3m | 500,000 | 300,000 | |
43 |
1.0m | 823,823 | 835,000 | - | - | - | - | - | |
430/8 |
1.0m | 823,823 | 835,000 | - | - | - | - | - | |
44 |
2.7m | 1.4m | 936,367 | 1.1m | 1.2m | 1.5m | 206,898 | 42,012 | |
440/4 |
2.7m | 1.4m | 936,367 | 1.1m | 1.2m | 1.5m | 206,898 | 42,012 | |
46 |
530,327 | 451,782 | 792,467 | 664,018 | 171,765 | 266,565 | 266,565 | - | |
45 |
2,195 | 20,842 | 23,861 | 54,552 | 27,051 | 38,467 | 107,873 | 22,695 | |
450/3 |
2,195 | 2,281 | 6,834 | 41,505 | 11,013 | - | 57,930 | 10,623 | |
454/9 |
0 | 18,561 | 17,027 | 13,047 | 16,038 | 38,467 | 49,942 | 12,073 | |
47/48 |
171,958 | 369,508 | 120,104 | 417,949 | 563,097 | 556,962 | 722,408 | 7,705 | |
492/3 |
20,261 | 17,274 | 659 | - | - | - | - | - | |
| Income statement | |||||||||
76A |
- | - | 0 | - | 0 | 4,307 | - | - | |
9900 |
193,213 | 285,937 | 263,920 | 256,096 | 275,288 | 262,216 | 581,674 | 144,398 | |
62 |
20,824 | 107,882 | 69,163 | 77,780 | 150,582 | 239,416 | 302,966 | 114,706 | |
630 |
1,881 | 2,756 | 2,576 | 1,543 | 7,473 | 3,147 | 3,015 | 4,560 | |
640/8 |
17,706 | 13,976 | 11,932 | 13,176 | 24,369 | 24,075 | 30,341 | 26,255 | |
66A |
- | - | 0 | - | - | - | 4,557 | - | |
9901 |
152,803 | 161,323 | 180,249 | 163,598 | 92,863 | -4,422 | 240,795 | -1,123 | |
75/76B |
3,381 | 730 | 4,088 | 818 | 0 | 22,597 | 882 | 3,515 | |
75 |
3,381 | 730 | 4,088 | 818 | 0 | 22,597 | 882 | 1 | |
76B |
- | - | - | - | - | - | - | 3,514 | |
65/66B |
55,577 | 64,164 | 51,882 | 14,739 | 43,447 | 13,250 | 9,366 | 3,801 | |
65 |
55,577 | 64,164 | 51,882 | 14,739 | 43,447 | 13,250 | 9,366 | 3,801 | |
9903 |
100,607 | 97,889 | 132,454 | 149,676 | 49,416 | 4,924 | 232,311 | -1,409 | |
67/77 |
25,303 | 25,680 | 34,141 | 37,012 | 18,796 | - | - | - | |
9904 |
75,303 | 72,208 | 98,313 | 112,665 | 30,620 | 4,924 | 232,311 | -1,409 | |
9905 |
75,303 | 72,208 | 98,313 | 112,665 | 30,620 | 4,924 | 232,311 | -1,409 | |
| Appropriation of the result | |||||||||
9906 |
80,935 | 80,632 | 108,423 | 143,650 | 30,985 | 4,965 | 230,901 | -1,409 | |
14P |
5,632 | 8,423 | 10,110 | 30,985 | 365 | - | - | - | |
691/2 |
75,000 | 75,000 | 100,000 | 133,540 | 0 | 4,600 | 1,860 | - | |
6920 |
- | - | - | - | - | - | 1,860 | - | |
6921 |
75,000 | 75,000 | 100,000 | 133,540 | 0 | 4,600 | - | - | |
694/7 |
- | - | - | - | - | - | 229,000 | - | |
695 |
- | - | - | - | - | - | 229,000 | - | |
| Social balance sheet | |||||||||
9087 |
0.2 | 1 | 0.8 | 1 | 1 | 2.1 | 3 | 1.5 | |
Hours worked1013 |
318 | 1,726 | 1,428 | 1,702 | 1,748 | 3,758 | 5,219 | 2,284 | |
| Document | |||||||||
The notes to these accounts have 17 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 20-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 20-04-2026 | 2026-00082674 | |
| 30-09-2024 | abbreviated format | 25-04-2025 | 2025-00075204 | |
| 30-09-2023 | abbreviated format | 10-04-2024 | 2024-00060440 | |
| 30-09-2022 | abbreviated format | 28-04-2023 | 2023-00070483 | |
| 30-09-2021 | abbreviated format | 29-04-2022 | 2022-20022214 | |
| 31-12-2019 | abbreviated format | 30-11-2020 | 2020-73700455 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-62200081 | |
| 31-12-2017 | micro format | 28-08-2018 | 2018-57900407 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| 154,684 | 164,079 | 182,826 | 165,140 | 100,336 | -1,275 | 243,810 | 3,437 | ||
| 77,184 | 74,965 | 100,890 | 114,207 | 38,093 | 8,072 | 235,326 | 3,150 | ||
| 0 | 0 | 8,000 | 0 | 11,616 | 660 | 1,437 | 13,639 | ||
| -217,048 | 483,000 | -43,025 | -299,768 | - | 55,900 | -35,589 | - | ||
| 568,504 | 562,039 | 247,095 | 147,546 | 33,339 | 6,862 | -550 | -5,439 | ||
| 8.0% | 8.9% | 8.6% | 4.6% | 1.6% | 0.4% | 0.4% | 1.3% | ||
| 1.13 | 1.18 | 1.09 | 1.05 | 1.01 | 1.00 | 1.00 | 0.99 | ||
| 0.90 | 0.54 | 0.43 | 0.59 | 0.72 | 0.54 | 0.56 | 0.99 | ||
| 11.58 | 10.27 | 10.64 | 20.64 | 62.39 | - | - | 77.74 | ||
| 18.7% | 22.1% | 38.6% | 72.1% | 70.2% | 37.8% | - | -29.4% | ||
| 1.5% | 2.0% | 3.3% | 3.3% | 1.1% | 0.1% | 12.8% | -0.4% | ||
| 2.78 | 2.56 | 3.52 | 11.20 | 2.31 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | - | 1 | 1 | 1 | 1 |
| full-time | - | 1 | 1 | 1 | 1 |
| part-time | - | 0 | 0 | - | 0 |
| in full-time equivalents | - | 1 | 1 | 1 | 1 |
| 0.2 | 1 | 0.8 | 1 | 1 | |
| On a permanent contract | - | 1 | 1 | 1 | 1 |
| Joined | 0 | - | 1 | - | - |
| Left | 1 | - | 1 | - | - |
| Training hours | 2 | 3 | 0 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €5,616 |
| Intangible fixed assets | - | - | €8,000 | - | - |
| Financial fixed assets | - | - | - | - | €6,000 |
| €1,881 | €2,756 | €2,576 | €1,543 | €7,473 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 5% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 91.1% to 92.0%. Equity and debt are higher.
C-DEV has no parent and no holdings in its annual accounts. GARAGE DEVISCH is the only director.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
C-DEV was incorporated on 19 October 2016.1 The registered office was moved to Eernegem in 2022.2 GARAGE DEVISCH is director of the company, appointed by deed of 11-09-2025.3 Total assets rose from €1.8m in 2018 to €5.1m in 2025 and headcount from 3 to 0.2 full-time equivalents.4
| Establishment | Since | Unit number |
|---|---|---|
| Carmarkt Eernegem registered office Oostendesteenweg 208, 8480 Ichtegem | 19-10-2016 | 2.258.323.118 |
| Carmarkt Brugge Kolvestraat 76, 8000 Bruges | 01-11-2019 | 2.301.018.261 |
| Carmarkt Torhout Oostendestraat 258, 8820 Torhout | 01-12-2022 | 2.339.205.181 |
| Carmarkt Veurne Koksijdestraat 23, 8630 Veurne | 01-01-2025 | 2.369.977.442 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31807I0050/00G000 | 6,464 m² | 1 · 2,452 m² | 9.1 m · 2 |
| 31033I0571/00P000 | 4,285 m² | 1 · 1,544 m² | 9.0 m · 2 |
| 35003B0925/00X000 | 2,713 m² | 1 · 960 m² | 7.2 m · 1 |
| 38025E0285/00T002 | 1,457 m² | 1 · 636 m² | 7.9 m · 2 |
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