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C.E.T.B.

Active
Public limited companyfounded 199431 yrs activeRoute de Trazegnies 520, 6031 Charleroi, BelgiumKBO/BCE: BE 0454.301.676
Summary

C.E.T.B. has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11.4m and a net result of €9.7m. Equity is growing by ~37.9% per year across the filed fiscal years. Its solvency ranks better than 31% of 260 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch ReportCompare
C.E.T.B.ActiveChecked score 92/100
Risk analysis ReportCompare

Overview

Activity
Materials recovery from waste
NACE 38210NACE 38213NACE 45310
#8 company by total assets in Hainaut, Waste collection and treatment sector1 site
Size
€32.8mturnover 2025
Staff
1 FTE
Equity
€11.4m
Profit
€9.7m
Financial health
92 Excellent Checked score 2025
Bankruptcy chance 12 m
0.1%
Structure
Holdings
1
Accounts 51 d early0 of 22 deeds read
Why 92- Sector Waste collection, recovery and disposal activities (NACE 38)- Liquidity: current ratio 3.72, cash €1.7m+ Size: turnover €32.8m, 1 FTE, total assets €46.8m+ Founded in 1994Show the evidence

Checked score

Score 2025
92 / 100
Excellent
Probability in this band: under 0.55%
Better than 54% of its sector peers (NACE 38, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 49-2
equity 24.4% of total assets
Liquidity 44=
short-term debt 26.5% · cash 3.6%
Profitability 96=
return on assets 20.7%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.6% (516 companies)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%● 0.0% vs 12-2024 02-2025: 0.1%▼ -4.5% vs 01-2025lowest value 03-2025: 0.1%▲ +1.2% vs 02-2025 04-2025: 0.1%▲ +9.3% vs 03-2025 05-2025: 0.1%▲ +4.3% vs 04-2025 06-2025: 0.1%▲ +5.1% vs 05-2025 07-2025: 0.1%▲ +19.4% vs 06-2025 08-2025: 0.1%● 0.0% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%▼ -9.8% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%● 0.0% vs 12-2025 02-2026: 0.1%▼ -4.5% vs 01-2026 03-2026: 0.1%▲ +0.9% vs 02-2026 04-2026: 0.1%▲ +6.5% vs 03-2026 05-2026: 0.1%▲ +5.3% vs 04-2026 06-2026: 0.1%▲ +10.0% vs 05-2026highest value 07-2026: 0.1%▼ -1.5% vs 06-2026 08-2026: 0.1%● 0.0% vs 07-2026 09-2026: 0.1%● 0.0% vs 08-2026 10-2026: 0.1%● 0.0% vs 09-2026
  • Size: turnover €32.8m, 1 FTE, total assets €46.8m lowers the probability for this profile
  • Founded in 1994 lowers the probability for this profile
  • Sector Waste collection, recovery and disposal activities (NACE 38) raises the probability
  • Liquidity: current ratio 3.72, cash €1.7m raises the probability
Credit up to €1,050,000 at 30 days acceptable
Liquidity ample (current ratio 3.72 against 4.03 in 2024; short-term debt: 26.5% and cash: 3.6% of total assets), but 75.6% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 38, micro). Better than this share of them on solvency 36%, liquidity 43%, profitability 92%, growth against the median 46%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: turnover €32.8m, 1 FTE, total assets €46.8m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Founded in 1994
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Sector Waste collection, recovery and disposal activities (NACE 38)
In the bankruptcy model this factor raises the probability.
KBO
raises risk · Liquidity: current ratio 3.72, cash €1.7m
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
51 d early
2024
54 d early
2023
49 d early
2022
49 d early
2021
124 d early
2020
43 d early
2019
135 d late
← 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 34 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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. Usually files around 10 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Highest result since 2018net €9.7m ▲8.8%
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Positive: Among the best 5% on net resultsector median €159,316 · 258 companies €9.7m View
  • Positive: 5 years of growth in a rowturnover 2025: €32.8m 5 years View
  • Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Fiscal year
2025
Turnover
€32.8m
Profit
€9.7m
Solvency
24.4%
Turnover▲ 4.0%
Net result
20182025
Go to Financials

Timeline

Events
17
Since
2017
Next accounts
by 31-07-2027
  1. 10-06-2026Annual accounts filed
  2. 31-12-2025Highest result since 2018
  3. 07-06-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Materials recovery from wasteNACE 38210
Founded
13-12-1994
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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