C.I.C.
ActiveSummary
C.I.C. has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €76,674 and a net result of -€14,701. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 50% of 9354 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▼-11
Solvency57▼-3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.1 in 2024; short-term debt: 68% and cash: 3.9% of total assets), and 68.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
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
31.7%
Return on assets
-6.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€14,701
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
30 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
95 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 31 days after 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. Usually files around 31 August (5 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 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 check 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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€76,674▼ 16.1%
2024 · €91,375
Total assets
€242,159▼ 7.5%
2024 · €261,759
Net result
-€14,701▼ 108%
2024 · -€7,065
Working capital
-€151,890▲ 0.7%
2024 · -€152,913
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,783-€4,865▼ 28.6%-€11,645▼ 139%-€6,892▲ 40.8%-€14,622▼ 112%
Net result-€3,833within the sector's middle half-€4,917within the sector's middle half▼ 28.3%-€11,717below the sector's middle half▼ 138%-€7,065within the sector's middle half▲ 39.7%-€14,701within the sector's middle half▼ 108%
Equity€115,074within the sector's middle half▼ 3.2%€110,157within the sector's middle half▼ 4.3%€98,440within the sector's middle half▼ 10.6%€91,375within the sector's middle half▼ 7.2%€76,674within the sector's middle half▼ 16.1%
Total assets€321,510within the sector's middle half▼ 7.2%€310,102within the sector's middle half▼ 3.5%€291,796within the sector's middle half▼ 5.9%€261,759within the sector's middle half▼ 10.3%€242,159below the sector's middle half▼ 7.5%
Debt€206,436▼ 9.3%€199,945▼ 3.1%€193,356▼ 3.3%€170,384▼ 11.9%€165,485▼ 2.9%
Working capital-€171,833below the sector's middle half▲ 6.9%-€160,075below the sector's middle half▲ 6.8%-€160,872below the sector's middle half▼ 0.5%-€152,913below the sector's middle half▲ 4.9%-€151,890below the sector's middle half▲ 0.7%
Solvency35.8%within the sector's middle half▲ 1.5pp35.5%within the sector's middle half▼ 0.3pp33.7%within the sector's middle half▼ 1.8pp34.9%within the sector's middle half▲ 1.2pp31.7%within the sector's middle half▼ 3.2pp
Current ratio0.17below the sector's middle half▼ 0.020.20below the sector's middle half▲ 0.030.17below the sector's middle half▼ 0.030.10below the sector's middle half▼ 0.070.08below the sector's middle half▼ 0.02
Return on assets (ROA)-1.2%within the sector's middle half▼ 3.2pp-1.6%within the sector's middle half▼ 0.4pp-4.0%below the sector's middle half▼ 2.4pp-2.7%below the sector's middle half▲ 1.3pp-6.1%below the sector's middle half▼ 3.4pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
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 stays negative: a loss of €14,622 in 2025 against €6,892 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €242,159
Fixed assets
€229,263 ▼ 6.2%
Current assets
€12,895 ▼ 26.2%
Equity and liabilities €242,159
Equity
€76,674 ▼ 16.1%
Debt
€165,485 ▼ 2.9%
Debt's share of the balance-sheet total rises from 65.1% to 68.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€402▼
2024 · €8,133
Cash flow
€323▼
2024 · €7,959
Debt to equity
2.16▲
2024 · 1.86
ROE
-19.2%▼
2024 · -7.7%
Interest coverage
5.09▼
2024 · 46.79
Debt ≤ 1 year
€164,785▼
2024 · €170,384
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 12,321 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 | €17,187 | €16,675 | €16,791 | €15,024 | €15,024 | = |
| Other operating charges640/8 | €1,305 | €1,297 | €1,464 | €1,479 | €1,511 | ▲ 2.2% |
| Gross operating margin9900 | €14,709 | €13,108 | €6,611 | €9,612 | €1,913 | ▼ 80.1% |
| Operating profit (loss)9901 | -€3,783 | -€4,865 | -€11,645 | -€6,892 | -€14,622 | ▼ 112% |
| Financial income75/76B | - | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | - | €0 | - |
| Financial charges65/66B | €50 | €52 | €73 | €174 | €79 | ▼ 54.6% |
| Recurring financial charges65 | €50 | €52 | €73 | €174 | €79 | ▼ 54.6% |
| Profit (loss) for the period before taxes9903 | -€3,833 | -€4,917 | -€11,717 | -€7,065 | -€14,701 | ▼ 108% |
| Profit (loss) for the period9904 | -€3,833 | -€4,917 | -€11,717 | -€7,065 | -€14,701 | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | -€3,833 | -€4,917 | -€11,717 | -€7,065 | -€14,701 | ▼ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €321,510 | €310,102 | €291,796 | €261,759 | €242,159 | ▼ 7.5% |
| Fixed assets21/28 | €286,907 | €270,232 | €259,312 | €244,288 | €229,263 | ▼ 6.2% |
| Tangible fixed assets22/27 | €286,907 | €270,232 | €259,312 | €244,288 | €229,263 | ▼ 6.2% |
| Land and buildings22 | €286,422 | €269,990 | €259,312 | €244,288 | €229,263 | ▼ 6.2% |
| Plant, machinery and equipment23 | €486 | €243 | - | - | - | - |
| Current assets29/58 | €34,603 | €39,870 | €32,484 | €17,471 | €12,895 | ▼ 26.2% |
| Amounts receivable within one year40/41 | €1,708 | €3,048 | €2,218 | €1,688 | €1,688 | = |
| Trade receivables40 | €1,688 | €2,671 | €1,688 | €1,688 | €1,688 | = |
| Other amounts receivable41 | €20 | €377 | €530 | - | - | - |
| Cash at bank and in hand54/58 | €30,646 | €35,596 | €28,661 | €14,106 | €9,466 | ▼ 32.9% |
| Deferred charges and accrued income490/1 | €2,249 | €1,226 | €1,605 | €1,677 | €1,741 | ▲ 3.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €321,510 | €310,102 | €291,796 | €261,759 | €242,159 | ▼ 7.5% |
| Equity10/15 | €115,074 | €110,157 | €98,440 | €91,375 | €76,674 | ▼ 16.1% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €2,926 | €2,926 | €2,926 | €2,926 | €2,926 | = |
| Non-distributable reserves130/1 | €2,926 | €2,926 | €2,926 | €2,926 | €2,926 | = |
| Legal reserve130 | €2,926 | €2,926 | €2,926 | €2,926 | €2,926 | = |
| Profit (loss) carried forward14 | €50,648 | €45,731 | €34,014 | €26,949 | €12,248 | ▼ 54.6% |
| Amounts payable17/49 | €206,436 | €199,945 | €193,356 | €170,384 | €165,485 | ▼ 2.9% |
| Amounts payable within one year42/48 | €206,436 | €199,945 | €193,356 | €170,384 | €164,785 | ▼ 3.3% |
| Trade debts44 | €1,853 | €4,926 | €2,830 | €1,113 | €1,000 | ▼ 10.2% |
| Suppliers440/4 | €1,853 | €4,926 | €2,830 | €1,113 | €1,000 | ▼ 10.2% |
| Taxes, remuneration and social security45 | €424 | €244 | €1,370 | €595 | €563 | ▼ 5.4% |
| Taxes450/3 | €424 | €244 | €1,370 | €595 | €563 | ▼ 5.4% |
| Other amounts payable47/48 | €204,160 | €194,775 | €189,155 | €168,675 | €163,222 | ▼ 3.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | €700 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,833 | -€4,917 | -€11,717 | -€7,065 | -€14,701 | ▼ 108% |
| + Depreciation and write-downs630 | €17,187 | €16,675 | €16,791 | €15,024 | €15,024 | = |
| Operating cash flow (approximation) | €13,354 | €11,758 | €5,074 | €7,959 | €323 | ▼ 95.9% |
| Investment in fixed assets (approximation) | - | €0 | -€5,871 | €0 | €0 | - |
| Change in cash | - | €4,950 | -€6,935 | -€14,556 | -€4,640 | ▲ 68.1% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€14,701
Net result drops to -€14,701, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €7,056 ▲6.5%
Net result €7,056, the highest in the series.
03-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 95 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
30-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Pajottegem · 1 establishment unit since 2004
Ground area
2,453 m²
Building footprint
345 m²
Volume, LiDAR
1,476 m³
Parcel 23032K0459/00D000, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
C.I.C.
since 20042.139.074.484
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23032K0459/00D000 | Flanders | 2,453 m² | 1 · 345 m² | 7.3 m · 1 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.
Similar companies · same sector, comparable size
ESEAL-MEDICAL
BE 0771.560.764
Waterloo · Eq €76,623
CLOU
BE 0826.341.515
Tournai · Eq €76,592
Boechout
BE 0673.631.940
Boechout · Eq €76,472
JIWA
BE 0629.697.670
Oud-Heverlee · Eq €76,886
GDM INVESTMENT
BE 0443.843.294
Anderlecht · Eq €76,936
Of 9,141 companies in this sector we hold annual accounts for 6,773. 3,884 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded18-12-2003
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862270909
Also
9925:BE0862270909
Registered
07-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.