C.E.S.
ActiveSummary
C.E.S. has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €157,127 and a net result of €21,484. Equity is growing by ~2.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+7
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 4.89 against 6.09 in 2024; short-term debt: 8.8% and cash: 29.4% of total assets), and 20.7% 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 · 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
79.3%
Return on assets
10.8%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-03-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
33 d early
2023
32 d early
2022
4 d early
2021
32 d late
2020
44 d early
2019
21 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 19 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€157,127▲ 15.8%
2024 · €135,644
Total assets
€198,160▲ 15.8%
2024 · €171,120
Net result
€21,484▲ 135%
2024 · €9,145
Working capital
€67,785▲ 54.2%
2024 · €43,968
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-€4,979€2,047€2,770▲ 35.3%€8,884▲ 221%€33,133▲ 273%
Net result-€2,975€4,262€3,556▼ 16.6%€9,145▲ 157%€21,484▲ 135%
Equity€118,680▼ 2.4%€122,942▲ 3.6%€126,498▲ 2.9%€135,644▲ 7.2%€157,127▲ 15.8%
Total assets€122,918▼ 0.1%€127,156▲ 3.4%€160,581▲ 26.3%€171,120▲ 6.6%€198,160▲ 15.8%
Debt€4,238▲ 199%€4,214▼ 0.6%€34,082▲ 709%€35,476▲ 4.1%€41,033▲ 15.7%
Working capital€28,611▼ 12.5%€34,785▲ 21.6%€32,062▼ 7.8%€43,968▲ 37.1%€67,785▲ 54.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 273% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €198,160
Fixed assets
€112,956 ▼ 4.7%
Current assets
€85,204 ▲ 61.9%
Equity and liabilities €198,160
Equity
€157,127 ▲ 15.8%
Debt
€41,033 ▲ 15.7%
Debt's share of the balance-sheet total stays at 20.7%.
Key figures and ratios
EBITDA
€38,683▲
2024 · €14,723
Cash flow
€27,034▲
2024 · €14,984
Current ratio
4.89▼
2024 · 6.09
Debt to equity
0.26▼
2024 · 0.26
ROE
13.7%▲
2024 · 6.7%
ROA
10.8%▲
2024 · 5.3%
Interest coverage
21.17▲
2024 · 9.73
Debt ≤ 1 year
€17,419▲
2024 · €8,646
Debt > 1 year
€23,614▼
2024 · €26,830
Income taxes
€11,304
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 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% | 1.7% |
| 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 75% 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 31,349 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €423 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,574 | €1,911 | €3,858 | €5,839 | €5,550 | ▼ 4.9% |
| Other operating charges640/8 | €3,377 | €5,708 | €1,273 | €4,028 | €3,897 | ▼ 3.3% |
| Gross operating margin9900 | €395 | €9,667 | €7,901 | €18,751 | €42,580 | ▲ 127% |
| Operating profit (loss)9901 | -€4,979 | €2,047 | €2,770 | €8,884 | €33,133 | ▲ 273% |
| Financial income75/76B | €2,046 | €2,359 | €1,882 | €1,774 | €1,482 | ▼ 16.4% |
| Recurring financial income75 | €2,046 | €2,359 | €1,882 | €1,774 | €1,482 | ▼ 16.4% |
| Financial charges65/66B | €43 | €144 | €1,096 | €1,513 | €1,827 | ▲ 20.8% |
| Recurring financial charges65 | €43 | €144 | €1,096 | €1,513 | €1,827 | ▲ 20.8% |
| Profit (loss) for the period before taxes9903 | -€2,975 | €4,262 | €3,556 | €9,145 | €32,788 | ▲ 259% |
| Income taxes67/77 | - | - | - | - | €11,304 | - |
| Profit (loss) for the period9904 | -€2,975 | €4,262 | €3,556 | €9,145 | €21,484 | ▲ 135% |
| Profit (loss) for the period to be appropriated9905 | -€2,975 | €4,262 | €3,556 | €9,145 | €21,484 | ▲ 135% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €122,918 | €127,156 | €160,581 | €171,120 | €198,160 | ▲ 15.8% |
| Fixed assets21/28 | €90,069 | €88,157 | €124,345 | €118,506 | €112,956 | ▼ 4.7% |
| Tangible fixed assets22/27 | €90,069 | €88,157 | €124,345 | €118,506 | €112,956 | ▼ 4.7% |
| Land and buildings22 | €79,822 | €79,822 | €79,822 | €79,822 | €79,822 | = |
| Plant, machinery and equipment23 | €2,569 | €1,953 | €39,436 | €34,893 | €30,351 | ▼ 13.0% |
| Furniture and vehicles24 | €7,678 | €6,382 | €5,087 | €3,791 | €2,784 | ▼ 26.6% |
| Current assets29/58 | €32,849 | €38,998 | €36,236 | €52,614 | €85,204 | ▲ 61.9% |
| Amounts receivable within one year40/41 | €32,710 | €35,728 | €33,604 | €25,266 | €25,414 | ▲ 0.6% |
| Trade receivables40 | - | - | - | €436 | €0 | ▼ 100% |
| Other amounts receivable41 | €32,710 | €35,728 | €33,604 | €24,829 | €25,414 | ▲ 2.4% |
| Cash at bank and in hand54/58 | €139 | €2,534 | €2,631 | €27,348 | €58,282 | ▲ 113% |
| Deferred charges and accrued income490/1 | - | €736 | €0 | - | €1,508 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €122,918 | €127,156 | €160,581 | €171,120 | €198,160 | ▲ 15.8% |
| Equity10/15 | €118,680 | €122,942 | €126,498 | €135,644 | €157,127 | ▲ 15.8% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €171,200 | €56,200 | €56,200 | €56,200 | €95,127 | ▲ 69.3% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €165,000 | €50,000 | €50,000 | €50,000 | €88,927 | ▲ 77.9% |
| Profit (loss) carried forward14 | -€114,520 | €4,742 | €8,298 | €17,444 | €0 | ▼ 100% |
| Amounts payable17/49 | €4,238 | €4,214 | €34,082 | €35,476 | €41,033 | ▲ 15.7% |
| Amounts payable after more than one year17 | - | - | €29,909 | €26,830 | €23,614 | ▼ 12.0% |
| Financial debts170/4 | - | - | €29,909 | €26,830 | €23,614 | ▼ 12.0% |
| Amounts payable within one year42/48 | €4,238 | €4,214 | €4,173 | €8,646 | €17,419 | ▲ 101% |
| Current portion of amounts payable after more than one year42 | - | - | €2,943 | €3,079 | €3,216 | ▲ 4.5% |
| Trade debts44 | €1,738 | €1,714 | €1,230 | €1,817 | €940 | ▼ 48.3% |
| Suppliers440/4 | €1,738 | €1,714 | €1,230 | €1,817 | €940 | ▼ 48.3% |
| Taxes, remuneration and social security45 | - | - | - | - | €9,513 | - |
| Taxes450/3 | - | - | - | - | €9,513 | - |
| Other amounts payable47/48 | €2,500 | €2,500 | €0 | €3,750 | €3,750 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,975 | €4,262 | €3,556 | €9,145 | €21,484 | ▲ 135% |
| + Depreciation and write-downs630 | €1,574 | €1,911 | €3,858 | €5,839 | €5,550 | ▼ 4.9% |
| Operating cash flow (approximation) | -€1,402 | €6,174 | €7,415 | €14,984 | €27,034 | ▲ 80.4% |
| Investment in fixed assets (approximation) | - | €0 | -€40,046 | €0 | €0 | - |
| Change in cash | - | €2,395 | €97 | €24,717 | €30,934 | ▲ 25.2% |
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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €21,484 ▲135%
Operating result €33,133, net result €21,484, both a record.
30-09
Financial
Equity above €150,000Eq €157,127 ▲15.8%
4 profitable years in a row build equity to €157,127.
28-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €4,262
Net result €4,262 after one loss-making year.
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
2021
17-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €4,070
Net result €4,070 after 2 loss-making years.
30-09
Financial
Liquidity doublescurrent ratio 24.04
Current ratio from 10.16 to 24.04; short-term debt falls from €4,056 to €1,419.
09-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 24 days late
2018
26-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-03
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 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Hasselt · 1 establishment unit since 1985
Ground area
1,544 m²
Building footprint
183 m²
Volume, LiDAR
884 m³
Parcel 71328D0656/00K000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rapertingenstraat 118, 3500 Hasselt
since 19852.027.243.481
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71328D0656/00K000 | Flanders | 1,544 m² | 1 · 183 m² | 8.0 m · 2 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.
Identification & contact
Identification
Legal formPublic limited company
Founded29-03-1984
Fiscal year end30-09
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426532358
Also
9925:BE0426532358
Registered
17-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.