C.E.M.
ActiveSummary
C.E.M. has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €889,986. Equity is growing by ~12.1% 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 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+20
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130,000 at 30 days acceptable
short-term debt: 0.2% and cash: 99.6% of total assets, and 0.2% 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○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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.8%
Return on assets
66.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
58 d early
2023
56 d early
2022
32 d early
2021
6 d early
2020
10 d late
2019
4 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 29 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
Equity
€1.3m▲ 203%
2024 · €438,960
Total assets
€1.3m▲ 196%
2024 · €450,542
Net result
€889,986▲ 2,101%
2024 · €40,433
Working capital
€1.3m▲ 252%
2024 · €377,986
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
Operating result€52,865▲ 6.4%€56,480▲ 6.8%€55,762▼ 1.3%€53,236▼ 4.5%€1.2m▲ 2,125%
Net result€39,302▲ 6.2%€41,729▲ 6.2%€41,814▲ 0.2%€40,433▼ 3.3%€889,986▲ 2,101%
Equity€314,985▲ 14.3%€356,714▲ 13.2%€398,527▲ 11.7%€438,960▲ 10.1%€1.3m▲ 203%
Total assets€339,867▲ 12.9%€419,726▲ 23.5%€416,937▼ 0.7%€450,542▲ 8.1%€1.3m▲ 196%
Debt€24,882▼ 1.4%€63,012▲ 153%€18,410▼ 70.8%€11,582▼ 37.1%€2,472▼ 78.7%
Working capital€247,735▲ 19.5%€291,027▲ 17.5%€334,294▲ 14.9%€377,986▲ 13.1%€1.3m▲ 252%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 2,125% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.3m
Equity
€1.3m ▲ 203%
Debt
€2,472 ▼ 78.7%
Debt's share of the balance-sheet total falls from 2.6% to 0.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.2m▲
2024 · €54,335
Cash flow
€889,986▲
2024 · €41,531
Debt to equity
0.00▼
2024 · 0.03
ROE
67.0%▲
2024 · 9.2%
ROA
66.8%▲
2024 · 9.0%
Interest coverage
9829.68▲
2024 · 800.81
Debt ≤ 1 year
€2,472▼
2024 · €3,037
Income taxes
€296,659▲
2024 · €13,320
A ratio outside any meaningful range has been withheld (balance sheet total €1.3m, equity €1.3m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 20,082 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,098 | €1,098 | €1,098 | €1,098 | €0 | ▼ 100% |
| Other operating charges640/8 | €5,423 | €5,347 | €6,202 | €6,498 | €6,727 | ▲ 3.5% |
| Gross operating margin9900 | €59,387 | €62,924 | €63,062 | €60,833 | €1.2m | ▲ 1,858% |
| Operating profit (loss)9901 | €52,865 | €56,480 | €55,762 | €53,236 | €1.2m | ▲ 2,125% |
| Financial income75/76B | - | - | €338 | €585 | €2,387 | ▲ 308% |
| Recurring financial income75 | - | - | €338 | €585 | €2,387 | ▲ 308% |
| Financial charges65/66B | €42 | €311 | €195 | €68 | €120 | ▲ 77.6% |
| Recurring financial charges65 | €42 | €311 | €195 | €68 | €120 | ▲ 77.6% |
| Profit (loss) for the period before taxes9903 | €52,823 | €56,169 | €55,905 | €53,754 | €1.2m | ▲ 2,108% |
| Income taxes67/77 | €13,521 | €14,440 | €14,091 | €13,320 | €296,659 | ▲ 2,127% |
| Profit (loss) for the period9904 | €39,302 | €41,729 | €41,814 | €40,433 | €889,986 | ▲ 2,101% |
| Profit (loss) for the period to be appropriated9905 | €39,302 | €41,729 | €41,814 | €40,433 | €889,986 | ▲ 2,101% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €339,867 | €419,726 | €416,937 | €450,542 | €1.3m | ▲ 196% |
| Fixed assets21/28 | €72,814 | €71,716 | €70,617 | €69,519 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €72,814 | €71,716 | €70,617 | €69,519 | €0 | ▼ 100% |
| Land and buildings22 | €64,181 | €64,181 | €64,181 | €64,181 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €8,633 | €7,534 | €6,436 | €5,338 | €0 | ▼ 100% |
| Current assets29/58 | €267,053 | €348,010 | €346,319 | €381,023 | €1.3m | ▲ 249% |
| Amounts receivable within one year40/41 | €6,444 | €6,981 | €7,393 | €8,360 | €3,611 | ▼ 56.8% |
| Trade receivables40 | €6,444 | €6,981 | €7,393 | €7,630 | €0 | ▼ 100% |
| Other amounts receivable41 | €0 | - | - | €730 | €3,611 | ▲ 395% |
| Cash at bank and in hand54/58 | €260,609 | €341,029 | €336,544 | €368,344 | €1.3m | ▲ 260% |
| Deferred charges and accrued income490/1 | - | - | €2,382 | €4,320 | €1,416 | ▼ 67.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €339,867 | €419,726 | €416,937 | €450,542 | €1.3m | ▲ 196% |
| Equity10/15 | €314,985 | €356,714 | €398,527 | €438,960 | €1.3m | ▲ 203% |
| Contributions10/11 | €127,579 | €127,579 | €127,579 | €127,579 | €127,579 | = |
| Capital10 | €127,579 | €127,579 | €127,579 | €127,579 | €127,579 | = |
| Issued capital100 | €127,579 | €127,579 | €127,579 | €127,579 | €127,579 | = |
| Reserves13 | €12,758 | €12,758 | €12,758 | €12,758 | €12,758 | = |
| Non-distributable reserves130/1 | €12,758 | €12,758 | €12,758 | €12,758 | €12,758 | = |
| Legal reserve130 | €12,758 | €12,758 | €12,758 | €12,758 | €12,758 | = |
| Profit (loss) carried forward14 | €174,648 | €216,377 | €258,191 | €298,624 | €1.2m | ▲ 298% |
| Amounts payable17/49 | €24,882 | €63,012 | €18,410 | €11,582 | €2,472 | ▼ 78.7% |
| Amounts payable within one year42/48 | €19,318 | €56,983 | €12,025 | €3,037 | €2,472 | ▼ 18.6% |
| Trade debts44 | - | €1,543 | €2,772 | €0 | €2,472 | - |
| Suppliers440/4 | - | €1,543 | €2,772 | €0 | €2,472 | - |
| Taxes, remuneration and social security45 | €16,803 | €4,924 | €6,739 | €3,037 | €0 | ▼ 100% |
| Taxes450/3 | €16,803 | €4,924 | €6,739 | €3,037 | €0 | ▼ 100% |
| Other amounts payable47/48 | €2,515 | €50,516 | €2,515 | €0 | - | - |
| Accrued charges and deferred income492/3 | €5,564 | €6,029 | €6,385 | €8,545 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,302 | €41,729 | €41,814 | €40,433 | €889,986 | ▲ 2,101% |
| + Depreciation and write-downs630 | €1,098 | €1,098 | €1,098 | €1,098 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €40,401 | €42,827 | €42,912 | €41,531 | €889,986 | ▲ 2,043% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €69,519 | - |
| Change in cash | - | €80,419 | -€4,484 | €31,799 | €958,049 | ▲ 2,913% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €889,986 ▲2,101%
Operating result €1.2m, net result €889,986, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 538.53
Current ratio from 125.47 to 538.53; short-term debt falls from €3,037 to €2,472.
31-12
Financial
Equity above €1mEq €1.3m ▲203%
8 profitable years in a row build equity to €1.3m.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity quadruplescurrent ratio 125.47
Current ratio from 28.80 to 125.47; short-term debt falls from €12,025 to €3,037.
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 5current ratio 28.80
Current ratio from 6.11 to 28.80; short-term debt falls from €56,983 to €12,025.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 10 days late
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Antwerpen · 1 establishment unit since 1998
Ground area
1.3 ha
Building footprint
1,013 m²
Volume, LiDAR
21,428 m³
Parcel 11003A0160/00K002, Flanders · tallest building 25.1 m, ±8 floors. Linked by address, not a title deed.
25
companies at this address
See who is registered here
1 establishment unit
Posthofbrug 10, 2600 Antwerpen
since 19982.087.016.069
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11003A0160/00K002 | Flanders | 1.3 ha | 1 · 1,013 m² | 25.1 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 3,947 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
Founded16-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454240508
Also
9925:BE0454240508
Registered
26-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.