C-guard
ActiveSummary
C-guard has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€277,279) and a net result of €28,277. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▲+49
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.73 against 0.81 in 2024; short-term debt: 126.4% and cash: 26.3% of total assets), and equity is negative.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-30.8%
Return on assets
3.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 8115 sector peers (2025).
NBB · sector comparisonPosition among 8115 sector peers
Solvency
better than 8%
← weakest
strongest →
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
20 d early
2023
15 d early
2022
20 d early
2021
24 d early
2020
9 d early
2019
on the day
← 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 16 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?C2F1 · 46 companies How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
-€277,279▲ 9.3%
2024 · -€305,556
Total assets
€899,651▼ 12.1%
2024 · €1.0m
Net result
€28,277
2024 · -€196,737
Working capital
-€303,693▼ 38.6%
2024 · -€219,063
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-€20,600▲ 47.3%€112,928-€139,469-€172,735▼ 23.9%€66,391
Net result-€21,146▲ 44.0%€84,471-€149,129-€196,737▼ 31.9%€28,277
Equity-€44,160▼ 91.9%€40,311-€108,818-€305,556▼ 181%-€277,279▲ 9.3%
Total assets€442,621▲ 119%€579,051▲ 30.8%€797,940▲ 37.8%€1.0m▲ 28.3%€899,651▼ 12.1%
Debt€486,780▲ 116%€538,740▲ 10.7%€906,758▲ 68.3%€1.3m▲ 46.6%€1.2m▼ 11.5%
Working capital-€5,194€70,886-€183,343-€219,063▼ 19.5%-€303,693▼ 38.6%
Staff (FTE)1.84.7▲ 161%6▲ 27.7%5▼ 16.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2024 Equity -181% on 2023. Cause not known from the registers.
- 2021 Total assets +119% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €66,391 after a loss of €172,735 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €899,651
Fixed assets
€66,563 ▼ 37.6%
Current assets
€833,088 ▼ 9.2%
Key figures and ratios
EBITDA
€115,603▲
2024 · -€114,665
Cash flow
€77,489▲
2024 · -€138,667
Solvency
-30.8%▼
2024 · -29.8%
Current ratio
0.73▼
2024 · 0.81
Quick ratio
0.61▼
2024 · 0.71
Debt to equity
-4.24▲
2024 · -4.35
ROA
3.1%▲
2024 · -19.2%
Interest coverage
3.13▲
2024 · -4.98
Debt ≤ 1 year
€1.1m=
2024 · €1.1m
Debt > 1 year
€39,326▼
2024 · €156,141
Income taxes
€1,182▲
2024 · €1,095
Staff costs
€539,079▼
2024 · €554,557
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,381 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.1%
stopped otherwise
94%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 1,381 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 | - | €114,650 | €374,321 | €554,557 | €539,079 | ▼ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,322 | €15,939 | €23,454 | €58,070 | €49,212 | ▼ 15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €2,417 | - |
| Other operating charges640/8 | €1,018 | €770 | €9,079 | €213 | €1,061 | ▲ 398% |
| Non-recurring operating charges66A | €101 | €102 | €109 | - | €3,360 | - |
| Gross operating margin9900 | -€6,159 | €244,389 | €267,494 | €440,105 | €661,521 | ▲ 50.3% |
| Operating profit (loss)9901 | -€20,600 | €112,928 | -€139,469 | -€172,735 | €66,391 | ▲ 138% |
| Financial income75/76B | €1,189 | - | €1,689 | €128 | - | - |
| Recurring financial income75 | €1,189 | - | €1,689 | €128 | - | - |
| Financial charges65/66B | €1,734 | €19,771 | €10,955 | €23,036 | €36,932 | ▲ 60.3% |
| Recurring financial charges65 | €1,734 | €19,771 | €10,955 | €23,036 | €36,932 | ▲ 60.3% |
| Profit (loss) for the period before taxes9903 | -€21,146 | €93,157 | -€148,734 | -€195,642 | €29,459 | ▲ 115% |
| Income taxes67/77 | - | €8,686 | €395 | €1,095 | €1,182 | ▲ 8.0% |
| Profit (loss) for the period9904 | -€21,146 | €84,471 | -€149,129 | -€196,737 | €28,277 | ▲ 114% |
| Profit (loss) for the period to be appropriated9905 | -€21,146 | €84,471 | -€149,129 | -€196,737 | €28,277 | ▲ 114% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €442,621 | €579,051 | €797,940 | €1.0m | €899,651 | ▼ 12.1% |
| Fixed assets21/28 | €37,534 | €48,985 | €158,093 | €106,624 | €66,563 | ▼ 37.6% |
| Tangible fixed assets22/27 | €37,534 | €48,985 | €158,093 | €106,624 | €66,563 | ▼ 37.6% |
| Plant, machinery and equipment23 | €37,079 | €46,355 | €154,940 | €104,640 | €60,029 | ▼ 42.6% |
| Furniture and vehicles24 | €456 | €2,630 | €3,153 | €1,983 | €6,534 | ▲ 229% |
| Current assets29/58 | €405,086 | €530,065 | €639,847 | €917,195 | €833,088 | ▼ 9.2% |
| Stocks and contracts in progress3 | €87,452 | €190,769 | €117,754 | €115,231 | €137,135 | ▲ 19.0% |
| Stocks30/36 | €43,034 | €32,799 | €56,886 | €67,031 | €85,590 | ▲ 27.7% |
| Contracts in progress37 | €44,418 | €157,970 | €60,868 | €48,200 | €51,545 | ▲ 6.9% |
| Amounts receivable within one year40/41 | €213,551 | €317,327 | €408,271 | €701,702 | €456,774 | ▼ 34.9% |
| Trade receivables40 | €213,551 | €317,327 | €405,751 | €701,702 | €456,774 | ▼ 34.9% |
| Other amounts receivable41 | - | - | €2,521 | - | - | - |
| Cash at bank and in hand54/58 | €99,244 | €9,715 | €109,316 | €96,705 | €236,814 | ▲ 145% |
| Deferred charges and accrued income490/1 | €4,839 | €12,255 | €4,505 | €3,558 | €2,364 | ▼ 33.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €442,621 | €579,051 | €797,940 | €1.0m | €899,651 | ▼ 12.1% |
| Equity10/15 | -€44,160 | €40,311 | -€108,818 | -€305,556 | -€277,279 | ▲ 9.3% |
| Contributions10/11 | €43,600 | €43,600 | €43,600 | €43,600 | €43,600 | = |
| Profit (loss) carried forward14 | -€87,760 | -€3,289 | -€152,418 | -€349,156 | -€320,879 | ▲ 8.1% |
| Amounts payable17/49 | €486,780 | €538,740 | €906,758 | €1.3m | €1.2m | ▼ 11.5% |
| Amounts payable after more than one year17 | €76,500 | €79,560 | €83,568 | €156,141 | €39,326 | ▼ 74.8% |
| Financial debts170/4 | €76,500 | €79,560 | €83,568 | €156,141 | €39,326 | ▼ 74.8% |
| Amounts payable within one year42/48 | €410,280 | €459,180 | €823,190 | €1.1m | €1.1m | = |
| Current portion of amounts payable after more than one year42 | - | - | - | €27,263 | €29,162 | ▲ 7.0% |
| Financial debts43 | - | - | €25,195 | - | €139 | - |
| Credit institutions430/8 | - | - | €25,195 | - | €139 | - |
| Trade debts44 | €322,516 | €423,354 | €582,644 | €515,455 | €332,172 | ▼ 35.6% |
| Suppliers440/4 | €322,516 | €423,354 | €582,644 | €515,455 | €332,172 | ▼ 35.6% |
| Advances received on contracts in progress46 | €70,708 | €5,763 | €62,583 | €295,445 | €308,050 | ▲ 4.3% |
| Taxes, remuneration and social security45 | €17,046 | €30,063 | €48,975 | €124,944 | €90,747 | ▼ 27.4% |
| Taxes450/3 | €17,046 | €21,067 | €10,307 | €63,446 | €16,154 | ▼ 74.5% |
| Remuneration and social security454/9 | - | €8,996 | €38,668 | €61,498 | €74,593 | ▲ 21.3% |
| Other amounts payable47/48 | €10 | - | €103,794 | €173,152 | €376,510 | ▲ 117% |
| Accrued charges and deferred income492/3 | €0 | - | - | €36,975 | €823 | ▼ 97.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,146 | €84,471 | -€149,129 | -€196,737 | €28,277 | ▲ 114% |
| + Depreciation and write-downs630 | €13,322 | €15,939 | €23,454 | €58,070 | €49,212 | ▼ 15.3% |
| Operating cash flow (approximation) | -€7,824 | €100,409 | -€125,676 | -€138,667 | €77,489 | ▲ 156% |
| Investment in fixed assets (approximation) | - | -€27,390 | -€132,561 | -€6,601 | -€9,151 | ▼ 38.6% |
| Change in cash | - | -€89,530 | €99,602 | -€12,611 | €140,109 | ▲ 1,211% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €28,277
Net result €28,277 after 2 loss-making years.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€196,737
Net result drops to -€196,737, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €84,471
Net result €84,471 after 2 loss-making years.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
21-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Back to profitnet €17,147
Net result €17,147 after one loss-making year.
30-09
Financial
Liquidity triplescurrent ratio 2.90
Current ratio from 0.97 to 2.90; short-term debt falls from €90,341 to €34,121.
Show earlier events
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 120 days late
2018
26-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 33 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
14 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, Wommelgem · 1 establishment unit since 2013
Ground area
8,848 m²
Building footprint
2,447 m²
Volume, LiDAR
14,605 m³
Parcel 11052C0201/00X002, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
SYN BVBA
since 20132.215.771.394
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11052C0201/00X002 | Flanders | 8,847 m² | 1 · 2,447 m² | 9.2 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.
Structure & network
Part of the group
C2F1
46 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- C2F1
- CORDEEL GROUP
- C-guard
Highest known parent: C2F1. The sources do not say who stands above it.
Owners 2
- CORDEEL GROUPparent100%
-
50%
Stated earlier (1)
An older source named these owners; newer accounts no longer list them.
-
50%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of C-guard and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
ZAFFER RESEARCH and DEVELOPMENT
BE 0823.902.261
Zaventem · Eq €41,261
SMART SERVICES
BE 0459.457.227
Grimbergen · Eq €41,420
VERTRONICS ENGINEERING
BE 0432.004.445
Gavere · Eq €41,531
PERFRA BELGIUM
BE 0459.507.311
Kapellen · Eq €38,834
VALENTIN
BE 0650.930.376
Brussel · Eq €42,036
Of 1,244 companies in sector 46643 we hold annual accounts for 953. 422 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-01-2013
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
80090Investigation and security activities
43211General electrical installation work
43212Electrical installation work in industrial facilities
47789Other retail sale of new goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0502264416
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.