C.T.M.
ActiveSummary
C.T.M. has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €908,281 and a net result of -€12,880. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 4718 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability17▼-13
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity ample (current ratio 93.32 against 4.63 in 2024; short-term debt: 0.3% and cash: 31.5% of total assets), and 0.3% of the assets are financed with debt.
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Signals
Six 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.7%
Return on assets
-1.4%
Age of the figures
9 mo
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 06-06-2026, 55 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
55 d early
2024
1 d early
2023
19 d late
2022
30 d late
2021
59 d early
2020
22 d early
2019
23 d early
← 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 on the deadline day, and 49% 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 30 July (4 of the last 5 filed years within 54 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€12,880
2024 · €93,101
Working capital
€285,449▼ 1.3%
2024 · €289,323
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Line20212022202320242025
Operating result€4,616€13,288▲ 188%-€10,896-€58,116▼ 433%-€12,749▲ 78.1%
Net result€2,568within the sector's middle half▼ 95.5%€11,579within the sector's middle half▲ 351%-€11,267below the sector's middle half€93,101within the sector's middle half-€12,880below the sector's middle half
Equity€827,748above the sector's middle half▲ 0.3%€839,327within the sector's middle half▲ 1.4%€828,060above the sector's middle half▼ 1.3%€921,161within the sector's middle half▲ 11.2%€908,281above the sector's middle half▼ 1.4%
Total assets€876,372above the sector's middle half▼ 6.4%€885,107within the sector's middle half▲ 1.0%€854,157above the sector's middle half▼ 3.5%€1.0mwithin the sector's middle half▲ 17.2%€911,373above the sector's middle half▼ 8.9%
Debt€48,624▼ 56.4%€45,780▼ 5.8%€26,097▼ 43.0%€79,690▲ 205%€3,092▼ 96.1%
Working capital-€13,196below the sector's middle half-€1,617within the sector's middle half▲ 87.7%-€21,527below the sector's middle half▼ 1,231%€289,323within the sector's middle half€285,449above the sector's middle half▼ 1.3%
Solvency94.5%above the sector's middle half▲ 6.4pp94.8%above the sector's middle half▲ 0.4pp96.9%above the sector's middle half▲ 2.1pp92.0%above the sector's middle half▼ 4.9pp99.7%above the sector's middle half▲ 7.6pp
Current ratio0.73below the sector's middle half▼ 0.620.96within the sector's middle half▲ 0.240.18below the sector's middle half▼ 0.794.63above the sector's middle half▲ 4.4693.32above the sector's middle half▲ 88.69
Return on assets (ROA)0.3%within the sector's middle half▼ 5.9pp1.3%within the sector's middle half▲ 1.0pp-1.3%within the sector's middle half▼ 2.6pp9.3%within the sector's middle half▲ 10.6pp-1.4%within the sector's middle half▼ 10.7pp
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €12,749 in 2025 against €58,116 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €911,373
Fixed assets
€622,832 ▼ 1.4%
Current assets
€288,541 ▼ 21.8%
Equity and liabilities €911,373
Equity
€908,281 ▼ 1.4%
Debt
€3,092 ▼ 96.1%
Debt's share of the balance-sheet total falls from 8.0% to 0.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€3,743▲
2024 · -€54,018
Cash flow
-€3,874▼
2024 · €97,199
Debt to equity
0.00▼
2024 · 0.09
ROE
-1.4%▼
2024 · 10.1%
Interest coverage
-19.19▲
2024 · -278.44
Debt ≤ 1 year
€3,092▼
2024 · €79,690
Income taxes
€27▼
2024 · €8,441
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | €9,326 | €53,895 | €3,556 | ▼ 93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,074 | - | €1,571 | €4,098 | €9,006 | ▲ 120% |
| Other operating charges640/8 | €699 | €466 | - | €33 | €187 | ▲ 467% |
| Gross operating margin9900 | €18,389 | €13,754 | -€9,325 | -€53,985 | -€3,556 | ▲ 93.4% |
| Operating profit (loss)9901 | €4,616 | €13,288 | -€10,896 | -€58,116 | -€12,749 | ▲ 78.1% |
| Financial income75/76B | - | - | - | €159,852 | €91 | ▼ 99.9% |
| Recurring financial income75 | - | - | - | €159,852 | €91 | ▼ 99.9% |
| Non-recurring financial income76B | - | - | - | €159,852 | - | - |
| Financial charges65/66B | €198 | €187 | €371 | €194 | €195 | ▲ 0.5% |
| Recurring financial charges65 | €198 | €187 | €371 | €194 | €195 | ▲ 0.5% |
| Profit (loss) for the period before taxes9903 | €4,418 | €13,101 | -€11,267 | €101,542 | -€12,853 | ▼ 113% |
| Income taxes67/77 | €1,850 | €1,522 | - | €8,441 | €27 | ▼ 99.7% |
| Profit (loss) for the period9904 | €2,568 | €11,579 | -€11,267 | €93,101 | -€12,880 | ▼ 114% |
| Profit (loss) for the period to be appropriated9905 | €2,568 | €11,579 | -€11,267 | €93,101 | -€12,880 | ▼ 114% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €876,372 | €885,107 | €854,157 | €1.0m | €911,373 | ▼ 8.9% |
| Fixed assets21/28 | €840,944 | €840,944 | €849,587 | €631,838 | €622,832 | ▼ 1.4% |
| Tangible fixed assets22/27 | €0 | - | €8,643 | €36,894 | €27,888 | ▼ 24.4% |
| Furniture and vehicles24 | - | - | €8,643 | €36,894 | €27,888 | ▼ 24.4% |
| Financial fixed assets28 | €840,944 | €840,944 | €840,944 | €594,944 | €594,944 | = |
| Current assets29/58 | €35,428 | €44,163 | €4,570 | €369,013 | €288,541 | ▼ 21.8% |
| Amounts receivable within one year40/41 | €24,200 | €22,950 | €2,900 | €10,593 | €84 | ▼ 99.2% |
| Trade receivables40 | €24,200 | €22,950 | - | - | - | - |
| Other amounts receivable41 | - | - | €2,900 | €10,593 | €84 | ▼ 99.2% |
| Cash at bank and in hand54/58 | €10,875 | €20,969 | €1,670 | €357,006 | €287,109 | ▼ 19.6% |
| Deferred charges and accrued income490/1 | €353 | €244 | - | €1,414 | €1,348 | ▼ 4.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €876,372 | €885,107 | €854,157 | €1.0m | €911,373 | ▼ 8.9% |
| Equity10/15 | €827,748 | €839,327 | €828,060 | €921,161 | €908,281 | ▼ 1.4% |
| Contributions10/11 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Capital10 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Issued capital100 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Reserves13 | €702,748 | €714,327 | €714,327 | €807,428 | €807,428 | = |
| Non-distributable reserves130/1 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Legal reserve130 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Distributable reserves133 | €690,248 | €701,827 | €701,827 | €794,928 | €794,928 | = |
| Profit (loss) carried forward14 | - | - | -€11,267 | -€11,267 | -€24,147 | ▼ 114% |
| Amounts payable17/49 | €48,624 | €45,780 | €26,097 | €79,690 | €3,092 | ▼ 96.1% |
| Amounts payable within one year42/48 | €48,624 | €45,780 | €26,097 | €79,690 | €3,092 | ▼ 96.1% |
| Trade debts44 | €7,283 | €7,664 | €7,812 | €61,814 | €10 | ▼ 100.0% |
| Suppliers440/4 | €7,283 | €7,664 | €7,812 | €61,814 | €10 | ▼ 100.0% |
| Taxes, remuneration and social security45 | €5,759 | €4,651 | €869 | €9,310 | - | - |
| Taxes450/3 | €5,759 | €4,651 | €869 | €9,310 | - | - |
| Other amounts payable47/48 | €35,582 | €33,465 | €17,416 | €8,566 | €3,082 | ▼ 64.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,568 | €11,579 | -€11,267 | €93,101 | -€12,880 | ▼ 114% |
| + Depreciation and write-downs630 | €13,074 | - | €1,571 | €4,098 | €9,006 | ▲ 120% |
| Operating cash flow (approximation) | €15,642 | €11,579 | -€9,696 | €97,199 | -€3,874 | ▼ 104% |
| Investment in fixed assets (approximation) | - | €0 | -€10,214 | €213,651 | €0 | ▼ 100% |
| Change in cash | - | €10,094 | -€19,299 | €355,336 | -€69,897 | ▼ 120% |
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
09-09
State Gazette act
Appointments: Küpper Christian, Küpper Thibault and Küpper Mireille5 facts ▸
State Gazette act
Appointments: Küpper Christian, Küpper Thibault and Küpper Mireille
5 facts ▸
- General meeting, 28-06-2026
- Director appointment, Küpper Christian (managing director)
- Director appointment, Küpper Thibault (director)
- Director appointment, Küpper Mireille (director)
- Director appointment, Küpper Christian (chair of the board)
06-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€12,880
Net result drops to -€12,880, the lowest in the series.
31-12
Financial
Liquidity times 20current ratio 93.32
Current ratio from 4.63 to 93.32; short-term debt falls from €79,690 to €3,092.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €93,101
Net result €93,101 after one loss-making year.
31-12
Financial
Liquidity times 26current ratio 4.63
Current ratio from 0.18 to 4.63.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
31-12
Financial
Liquidity quadruplescurrent ratio 1.34
Current ratio from 0.36 to 1.34; short-term debt falls from €65,541 to €61,505.
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 55 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26113743). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
Christian KUPPER
CurrentChair of the board · since 28-06-2026
Küpper Mireille
CurrentDirector · since 28-06-2026
Küpper Thibault
CurrentDirector · since 28-06-2026
Day-to-day management 1
Christian KUPPER
CurrentManaging director · since 28-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Malmedy · 1 establishment unit since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Xhoffraix-Large Voie 224960 Malmedy1 establishment unit
Xhoffraix-Large Voie 22, 4960 Malmedy
since 20022.115.530.012
Mandate history
3 people since 2026, 3 in office
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| Christian KUPPER |
|
| Küpper Mireille |
|
| Küpper Thibault |
|
Structure & network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Recognitions · licences · registrations
Legal Entity Identifier
699400EM2BPWCNAYM929
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Of 12,582 companies in sector 49410 we hold annual accounts for 8,205. 4,306 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-05-2002
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
70200Business and other management consultancy
Contact
E-mail
ch.kupper@fiduciaire-kupper.be
Phone
0498867632
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477467355
Also
9925:BE0477467355
Registered
04-10-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.