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C-Shine Digital

Active
Private limited companyfounded 20233 yrs activeBurgemeester Remansstraat 1A, 3690 Zutendaal, BelgiumKBO/BCE: BE 0802.504.061
Summary

C-Shine Digital has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €32,717 and a net result of €15,291. Its solvency ranks better than 26% of 20783 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability89▲+5
Solvency60▲+18
Growth78
Track record94
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 1.63 against 0.9 in 2023; short-term debt: 25.1% and cash: 31.5% of total assets), but 65.5% of the assets are financed with debt.
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Signals

Four 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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
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 2024
Solvency, return and age of the figures
Solvency
34.5%
Return on assets
16.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
not confirmed
2024
on the day
2023
9 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.

Checked, nothing found (1)
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

History

On 7 June 2023, C-Shine Digital was incorporated as a Private limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2024

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Financials · fiscal year 2024, micro schema

Equity
€32,717▲ 87.8%
2023 · €17,425
Total assets
€94,803▼ 6.0%
2023 · €100,863
Net result
€15,291▲ 23.1%
2023 · €12,425
Working capital
€14,888
2023 · -€3,274
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20232024
Operating result€16,738-€22,784▲ 36.1%
Net result€12,425within the sector's middle half-€15,291within the sector's middle half▲ 23.1%
Equity€17,425below the sector's middle half-€32,717within the sector's middle half▲ 87.8%
Total assets€100,863within the sector's middle half-€94,803within the sector's middle half▼ 6.0%
Debt€83,438-€62,086▼ 25.6%
Working capital-€3,274-€14,888
Solvency17.3%below the sector's middle half-34.5%within the sector's middle half▲ 17.2pp
above within below the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
€0€10,000€20,000Operating result 2023: €16,738€16,738Net result 2023: €12,425€12,425Operating result 2024: €22,784€22,784Net result 2024: €15,291€15,29120232024€0€10,000€20,000Operating result 2023: €16,738€16,700Net result 2023: €12,425€12,400Operating result 2024: €22,784€22,800Net result 2024: €15,291€15,30020232024
The operating result rises in 2024; 2024 is 36% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €94,803
Fixed assets €56,151 ▼ 21.6%
Current assets €38,652 ▲ 32.2%
Equity and liabilities €94,803
Equity €32,717 ▲ 87.8%
Debt €62,086 ▼ 25.6%
Debt's share of the balance-sheet total falls from 82.7% to 65.5%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€39,700▲
2023 · €25,669
Cash flow
€32,208▲
2023 · €21,356
Current ratio
1.63▲
2023 · 0.90
Debt to equity
1.90▼
2023 · 4.79
ROE
46.7%▼
2023 · 71.3%
ROA
16.1%▲
2023 · 12.3%
Interest coverage
16.54▼
2023 · 21.84
Debt ≤ 1 year
€23,764▼
2023 · €32,507
Debt > 1 year
€38,296▼
2023 · €50,931
Income taxes
€5,092▲
2023 · €3,153
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 39,275 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.6% went bankrupt
2.2% stopped otherwise
96% still going

A further 0.4% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.6% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 39,275 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 45 lines
Balance sheet Code20232024
Assets
Total assets20/58€100,863€94,803▼
Fixed assets21/28€71,630€56,151▼
Tangible fixed assets22/27€71,630€56,151▼
Plant, machinery and equipment23€2,193€1,721▼
Furniture and vehicles24€3,514€3,323▼
Leasing and similar rights25€65,923€51,107▼
Current assets29/58€29,233€38,652▲
Amounts receivable within one year40/41€9,680€192▼
Trade receivables40€9,680-
Other amounts receivable41-€192
Cash at bank and in hand54/58€11,288€29,894▲
Deferred charges and accrued income490/1€8,266€8,566▲
Equity and liabilities
Total equity and liabilities10/49€100,863€94,803▼
Equity10/15€17,425€32,717▲
Contributions10/11€5,000€5,000=
Reserves13€10,000€20,000▲
Distributable reserves133€10,000€20,000▲
Profit (loss) carried forward14€2,425€7,717▲
Amounts payable17/49€83,438€62,086▼
Amounts payable after more than one year17€50,931€38,296▼
Financial debts170/4€50,931€38,296▼
Amounts payable within one year42/48€32,507€23,764▼
Current portion of amounts payable after more than one year42€12,307€12,635▲
Trade debts44-€922
Suppliers440/4-€922
Taxes, remuneration and social security45€8,961€10,207▲
Taxes450/3€8,961€10,207▲
Other amounts payable47/48€11,240-
Accrued charges and deferred income492/3-€26
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8,931€16,917▲
Other operating charges640/8-€126
Gross operating margin9900€25,669€39,826▲
Operating profit (loss)9901€16,738€22,784▲
Financial income75/76B€16€0▼
Recurring financial income75€16€0▼
Financial charges65/66B€1,175€2,400▲
Recurring financial charges65€1,175€2,400▲
Profit (loss) for the period before taxes9903€15,579€20,384▲
Income taxes67/77€3,153€5,092▲
Profit (loss) for the period9904€12,425€15,291▲
Profit (loss) for the period to be appropriated9905€12,425€15,291▲
Appropriation of the result
Profit (loss) to be appropriated9906€12,425€17,717▲
Profit (loss) brought forward from the previous period14P-€2,425
Transfer to equity691/2€10,000€10,000=
To other reserves6921€10,000€10,000=

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8,931€16,917▲ 89.4%
Other operating charges640/8-€126-
Gross operating margin9900€25,669€39,826▲ 55.2%
Operating profit (loss)9901€16,738€22,784▲ 36.1%
Financial income75/76B€16€0▼ 99.9%
Recurring financial income75€16€0▼ 99.9%
Financial charges65/66B€1,175€2,400▲ 104%
Recurring financial charges65€1,175€2,400▲ 104%
Profit (loss) for the period before taxes9903€15,579€20,384▲ 30.8%
Income taxes67/77€3,153€5,092▲ 61.5%
Profit (loss) for the period9904€12,425€15,291▲ 23.1%
Profit (loss) for the period to be appropriated9905€12,425€15,291▲ 23.1%
Line20232024Change
Assets
Total assets20/58€100,863€94,803▼ 6.0%
Fixed assets21/28€71,630€56,151▼ 21.6%
Tangible fixed assets22/27€71,630€56,151▼ 21.6%
Plant, machinery and equipment23€2,193€1,721▼ 21.5%
Furniture and vehicles24€3,514€3,323▼ 5.4%
Leasing and similar rights25€65,923€51,107▼ 22.5%
Current assets29/58€29,233€38,652▲ 32.2%
Amounts receivable within one year40/41€9,680€192▼ 98.0%
Trade receivables40€9,680--
Other amounts receivable41-€192-
Cash at bank and in hand54/58€11,288€29,894▲ 165%
Deferred charges and accrued income490/1€8,266€8,566▲ 3.6%
Equity and liabilities
Total equity and liabilities10/49€100,863€94,803▼ 6.0%
Equity10/15€17,425€32,717▲ 87.8%
Contributions10/11€5,000€5,000=
Reserves13€10,000€20,000▲ 100%
Distributable reserves133€10,000€20,000▲ 100%
Profit (loss) carried forward14€2,425€7,717▲ 218%
Amounts payable17/49€83,438€62,086▼ 25.6%
Amounts payable after more than one year17€50,931€38,296▼ 24.8%
Financial debts170/4€50,931€38,296▼ 24.8%
Amounts payable within one year42/48€32,507€23,764▼ 26.9%
Current portion of amounts payable after more than one year42€12,307€12,635▲ 2.7%
Trade debts44-€922-
Suppliers440/4-€922-
Taxes, remuneration and social security45€8,961€10,207▲ 13.9%
Taxes450/3€8,961€10,207▲ 13.9%
Other amounts payable47/48€11,240--
Accrued charges and deferred income492/3-€26-
Line20232024Change
Profit (loss) for the period9904€12,425€15,291▲ 23.1%
+ Depreciation and write-downs630€8,931€16,917▲ 89.4%
Operating cash flow (approximation)€21,356€32,208▲ 50.8%
Investment in fixed assets (approximation)--€1,438-
Change in cash-€18,606-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
31-07
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
22-07
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
NBB filing
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, Zutendaal · 1 establishment unit since 2023
seat establishment The establishment unit on the map
Ground area
532 m²
Building footprint
169 m²
Volume, LiDAR
1,082 m³
Parcel 71067B0596/00P000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
C-Shine Digital
Burgemeester Remansstraat 1A, 3690 ZutendaalComputer programming, consultancy and related activities
since 20232.345.853.344
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
71067B0596/00P000 Flanders 532 m² 1 · 169 m² 9.5 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.

Similar companies · same sector, comparable size

Of 30,007 companies in sector 62200 we hold annual accounts for 18,396. 14,469 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
Founded07-06-2023
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
62100Computer programming
63100Computing infrastructure, data processing, hosting and related activities
E-invoicing
Reachable via Peppol
Peppol ID 0208:0802504061
Also 9925:BE0802504061
Registered 26-05-2024

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.