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C.T.S.I.

Active
Public limited companyfounded 1983active for 43 yearsRue du Progrès(FL) 1, 6220 Fleurus, Belgium10 active companies are registered at this addressKBO/BCE: BE 0423.837.045
Summary

C.T.S.I. has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €17.6m and a net result of €203,968. Equity is growing by about 9.8% per year across the filed financial years. Its solvency ranks better than 70% of 5,756 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Overview

Activity
Renting and operating of own or leased non-residential real estate, excluding land
NACE 68203
3rd oldest company in Fleurus, Real estate sector4 sites
Size
€4.6mturnover 2025
Equity
€17.6m
Profit
€203,968
Financial health
96 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
< 0.1%
Structure
Parent
V.M.S.B.
Board
4 members
Holdings
1
Auditor: PVMD BEDRIJFSREVISOREN - REVISEURS D'ENTREPRISESAccounts 35 days early3 of 14 deeds read
Why 96raises riskLiquidity: current ratio 0.93, cash €732,887lowers riskSize: turnover €4.6m, total assets €27.4mFounded in 1983Legal form: public limited companyShow the evidence

Checked score

Score 2025
96 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 70% of its sector peers (NACE 68, medium-sized)
Financial strength · tick = 2024
Strong
Solvency 89+3
equity 64.0% of total assets
Liquidity 52+4
short-term debt 12.9% · cash 2.7%
Profitability 80=
return on assets 0.7%
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (1,718 companies, NACE 68, medium-sized)
Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● unchanged vs 11-2024 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: 0.1%▲ +0.1 percentage points vs 04-2025 06-2025: < 0.1%▼ -0.1 percentage points vs 05-2025 07-2025: 0.1%▲ +0.1 percentage points vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026highest value 07-2026: < 0.1%▼ -0.1 percentage points vs 06-2026lowest value 08-2026: < 0.1%● unchanged vs 07-2026lowest value 09-2026: < 0.1%● unchanged vs 08-2026lowest value 10-2026: < 0.1%● unchanged vs 09-2026lowest value
Credit of up to €450,000 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.93, compared with 0.59 in 2024, below 1; short-term debt: 12.9% and cash: 2.7% of total assets), and 36% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, medium-sized): better than 78% on solvency, 70% on liquidity, 92% on profitability and 39% on growth.

The bankruptcy probability was computed on 22-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Size: turnover €4.6m, total assets €27.4m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.93, cash €732,887
NBB · annual accounts
lowers risk · Founded in 1983
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Legal form: public limited company
KBO
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 26-06-2026, 35 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
35 days early
2024
37 days early
2023
34 days early
2022
38 days early
2021
34 days early
2020
37 days early
2019
36 days 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 36 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
23-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Appointment: Guy Van Mieghem (managing director)Gazette deed
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Positive: 3rd oldest company in Fleurus, Real estate sectorin the Checked rankings No. 3 View
  • Caution: Result fell in 2025from €409,541 to €203,968 ▼ 50.2% View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Positive: 8 profitable years in a rowprofit 2025: €203,968 8 years View
  • Controlled by V.M.S.B. parent View
  • New directorlatest change 01-01-2026 · 4 in office 1 joined View

By topic

Financials

Financial year
2025
Turnover
€4.6m
Profit
€203,968
Solvency
64.0%
Turnover▼ 4.3%
Net result
20182025
Go to Financials

Board & ownership

Board
4 members
Parent
V.M.S.B.
Auditor
PVMD BEDRIJFSREVISOREN - REVISEURS…
  • Van Mieghem ArnaudDirector
  • BOMBART BéatriceDirector
  • Guy Van MieghemManaging director
  • VAN MIEGHEM LucDirector
Go to Board & ownership

Timeline

Events
49
Since
1984
Next accounts
by 31-07-2027
  1. 27-06-2024Annual accounts filed
  2. 25-03-2024Capital & shares · Amendment of the…
  3. 31-12-2023Highest result from 2018 to 2025
Go to Timeline

Company details

Sites
4
Legal form
Public limited company
Activity
Renting and operating of own or leased non-residential…NACE 68203
Founded
02-03-1983
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
11
Annual meeting
Last Tuesday of May at 17:00
Purpose
“L'organisation de transports et de logistique; Toutes opérations logistiques et…” (deed in French)
Go to Articles of association

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