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C-METAL

Active
Public limited companyfounded 20197 yrs activeFrank Van Dyckelaan 19, 9140 Temse, BelgiumKBO/BCE: BE 0735.611.772
Summary

The computed 12-month bankruptcy probability of C-METAL is 4.4% (elevated). The 2025 annual accounts show negative equity (-€1.3m) and a net result of -€3.3m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 2393 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
C-METALActiveChecked score 45/100
Risk analysis ReportCompare

Overview

Activity
Joinery installation
NACE 43320Manufacture of metal structures and parts of structures NACE 25110
#2 company by staff growth in East Flanders, Specialised construction sector1 site
Size
€9.9mturnover 2025
Staff
48.5 FTE
Equity
-€1.3m
Loss
-€3.3m
Financial health
45 Fair Checked score 2025
Bankruptcy chance 12 m
4.4%
Structure
Parent
CORDEEL GROUP · 99%
Accounts 24 d early2 of 18 deeds read
Why 45- Negative equity -€1.3m- Liquidity: current ratio 1.09, cash €2,221- Loss of €3.3m, the second in a row (FY 2025)- Sector Specialised construction activities (NACE 43)Show the evidence

Checked score

Score 2025
45 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 4% of its sector peers (NACE 43, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 5-58
equity -19.7% of total assets
Liquidity 7-10
short-term debt 78.5% · cash 0.0%
Profitability 0-15
return on assets -50.7%
Bankruptcy probability, 12 months
4.4% Elevated
0%0.5%1.5%4%10%≥ 25%

About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (2,633 companies)
Last 24 months 11-2024: 1.8% 12-2024: 1.8%● 0.0% vs 11-2024 01-2025: 1.7%▼ -2.7% vs 12-2024 02-2025: 1.7%▼ -3.0% vs 01-2025 03-2025: 1.7%▲ +0.2% vs 02-2025 04-2025: 1.7%▲ +5.2% vs 03-2025 05-2025: 1.8%▲ +1.8% vs 04-2025 06-2025: 1.8%▲ +0.9% vs 05-2025 07-2025: 1.8%▲ +2.5% vs 06-2025 08-2025: 1.4%▼ -23.6% vs 07-2025 09-2025: 1.4%▼ -1.1% vs 08-2025 10-2025: 1.4%● 0.0% vs 09-2025 11-2025: 1.4%● 0.0% vs 10-2025 12-2025: 1.4%▲ +1.4% vs 11-2025 01-2026: 1.2%▼ -12.4% vs 12-2025 02-2026: 1.2%▼ -3.1% vs 01-2026lowest value 03-2026: 1.2%▲ +1.5% vs 02-2026 04-2026: 1.3%▲ +5.4% vs 03-2026 05-2026: 1.3%▲ +2.1% vs 04-2026 06-2026: 1.3%▲ +2.1% vs 05-2026 07-2026: 1.4%▲ +7.0% vs 06-2026 08-2026: 4.4%▲ +206% vs 07-2026highest value 09-2026: 4.4%● 0.0% vs 08-2026highest value 10-2026: 4.4%● 0.0% vs 09-2026highest value
  • Negative equity -€1.3m raises the probability
  • Liquidity: current ratio 1.09, cash €2,221 raises the probability
  • Loss of €3.3m, the second in a row (FY 2025) raises the probability
  • Sector Specialised construction activities (NACE 43) raises the probability
No credit on open account
Liquidity tight (current ratio 1.09 against 1.5 in 2024; short-term debt: 78.5% and cash: 0% of total assets), and equity is negative.
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 43, small). Better than this share of them on solvency 2%, liquidity 3%, profitability 2%, growth against the median 12%. 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

Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity -€1.3m
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 1.09, cash €2,221
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €3.3m, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Sector Specialised construction activities (NACE 43)
In the bankruptcy model this factor raises the probability.
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
202122232425
2020 to 2025 · latest year -€1.3m
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 · 6 filings
Deviation from the deadline
2025
24 d early
2024
34 d early
2023
13 d early
2022
on the day
2021
11 d late
2020
36 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 16 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 19 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
04-10-2026 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. Appointment: Johan Plasschaert (gevolmachtigde belast met…Permanent representatives: Remy Yves and…
  3. Resignation: Sandina BV (director)Permanent representative: Peter Van Ingelghem…

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€1.3m View
  • Risk: 6 loss-making years in a rowloss fiscal year 2025 -€3.3m View
  • Caution: Result fell in 2025from -€210,661 to -€3.3m ▼ 1,487% View
  • Caution: Among the weakest 5% on solvencysector median 42.6% · 2,393 companies -19.7% View
  • Controlled by CORDEEL GROUPultimately: C2F1 99% View
  • Board changedlatest change 22-05-2026 · 0 in office 1 joined · 1 left View
  • Positive: Always filed on timeaccounts within the deadline every year 4 years View

By topic

Financials

Fiscal year
2025
Turnover
€9.9m
Loss
-€3.3m
Solvency
-19.7%
Turnover▼ 13.2%
Net result
20202025
Go to Financials

Timeline

Events
11
Since
2021
Next accounts
by 31-07-2027
  1. 07-07-2026Annual accounts filed
  2. 22-05-2026Appointment: Johan Plasschaert (gevolmachtigde belast met het…
  3. 25-03-2026Resignation: Sandina BV (director)
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Joinery installationNACE 43320
Founded
03-10-2019
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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