C2V DISTRIBUTION
ActiveSummary
The computed 12-month bankruptcy probability of C2V DISTRIBUTION is 1.9% (moderate). The 2024 annual accounts show equity of €270k and a net result of €9k. Equity is growing by ~61.6% per year across the filed fiscal years. The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability57▼-32
Solvency79▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity ample (current ratio 2.16 against 2.02 in 2023; short-term debt: 36.7% and cash: 49.1% of total assets), and 46.1% of the assets are financed with debt.
Credit check for your own amount and term
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 12
Relative position
BE, all sectors
reference
Manufacture of tobacco products (NACE 12)
about 7% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-09-2025, 54 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
54 d late
2023
58 d late
2022
42 d late
2021
54 d late
2020
43 d late
2019
108 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€9k▼ 90.2%
2023 · €88k
2018: €588lowest in 7 years
2019: €11k▲ +1853% vs 2018
2020: €24k▲ +110% vs 2019
2021: €44k▲ +84.5% vs 2020
2022: €69k▲ +56.0% vs 2021
2023: €88k▲ +27.0% vs 2022highest in 7 years
2024: €9k▼ -90.2% vs 2023
2018 → 2024
Working capital
€213k▲ 0.7%
2023 · €212k
2018: €9klowest in 7 years
2019: €23k▲ +148% vs 2018
2020: €47k▲ +101% vs 2019
2021: €91k▲ +94.7% vs 2020
2022: €141k▲ +55.4% vs 2021
2023: €212k▲ +50.2% vs 2022
2024: €213k▲ +0.7% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€59k-€104k▲ 75.0%€173k▲ 66.8%€261k▲ 50.9%€270k▲ 3.3%
2020: €59klowest in 5 years
2021: €104k▲ +75.0% vs 2020
2022: €173k▲ +66.8% vs 2021
2023: €261k▲ +50.9% vs 2022
2024: €270k▲ +3.3% vs 2023highest in 5 years
Operating result€35k-€67k▲ 89.6%€99k▲ 48.4%€132k▲ 34.2%€24k▼ 81.9%
2020: €35k
2021: €67k▲ +89.6% vs 2020
2022: €99k▲ +48.4% vs 2021
2023: €132k▲ +34.2% vs 2022highest in 5 years
2024: €24k▼ -81.9% vs 2023lowest in 5 years
Net result€24k-€44k▲ 84.5%€69k▲ 56.0%€88k▲ 27.0%€9k▼ 90.2%
2020: €24k
2021: €44k▲ +84.5% vs 2020
2022: €69k▲ +56.0% vs 2021
2023: €88k▲ +27.0% vs 2022highest in 5 years
2024: €9k▼ -90.2% vs 2023lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 82% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €500k
Fixed assets
€103k ▼ 6.3%
Current assets
€397k ▼ 5.6%
Equity and liabilities €500k
Equity
€270k ▲ 3.3%
Debt
€231k ▼ 14.4%
Debt's share of the balance-sheet total falls from 50.8% to 46.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€41k▼
2023 · €146k
Cash flow
€25k▼
2023 · €102k
Current ratio
2.16▲
2023 · 2.02
Quick ratio
1.55▼
2023 · 1.66
Debt to equity
0.86▼
2023 · 1.03
ROE
3.2%▼
2023 · 33.7%
ROA
1.7%▼
2023 · 16.6%
Interest coverage
4.39▼
2023 · 15.57
Debt ≤ 1 year
€184k▼
2023 · €209k
Debt > 1 year
€47k▼
2023 · €61k
Income taxes
€6k▼
2023 · €35k
Staff costs
€177k▲
2023 · €173k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 54 lines
Balance sheet
Code20232024
Assets
Total assets20/58€531k€500k▼
Fixed assets21/28€110k€103k▼
Tangible fixed assets22/27€103k€96k▼
Furniture and vehicles24€8k€9k▲
Other tangible fixed assets26€95k€87k▼
Financial fixed assets28€7k€7k=
Current assets29/58€421k€397k▼
Stocks and contracts in progress3€74k€112k▲
Stocks30/36€74k€112k▲
Amounts receivable within one year40/41€38k€35k▼
Other amounts receivable41€38k€35k▼
Cash at bank and in hand54/58€304k€246k▼
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€531k€500k▼
Equity10/15€261k€270k▲
Contributions10/11€19k€19k=
Outside capital11€19k€19k=
Other1109/19€19k€19k=
Reserves13€219k€228k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€218k€226k▲
Profit (loss) carried forward14€23k€23k▲
Amounts payable17/49€270k€231k▼
Amounts payable after more than one year17€61k€47k▼
Financial debts170/4€61k€47k▼
Amounts payable within one year42/48€209k€184k▼
Current portion of amounts payable after more than one year42€14k€14k▲
Financial debts43€12k€12k▼
Credit institutions430/8€12k€12k▼
Trade debts44€17k€60k▲
Suppliers440/4€17k€60k▲
Taxes, remuneration and social security45€149k€80k▼
Taxes450/3€96k€50k▼
Remuneration and social security454/9€53k€30k▼
Other amounts payable47/48€17k€18k▲
Income statement
Code20232024
Remuneration, social security and pensions62€173k€177k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€17k▲
Other operating charges640/8€4k€2k▼
Gross operating margin9900€323k€219k▼
Operating profit (loss)9901€132k€24k▼
Financial income75/76B€48€131▲
Recurring financial income75€48€131▲
Financial charges65/66B€10k€9k▼
Recurring financial charges65€9k€9k▼
Non-recurring financial charges66B€112-
Profit (loss) for the period before taxes9903€123k€15k▼
Income taxes67/77€35k€6k▼
Profit (loss) for the period9904€88k€9k▼
Profit (loss) for the period to be appropriated9905€88k€9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€110k€32k▼
Profit (loss) brought forward from the previous period14P€22k€23k▲
Transfer to equity691/2€88k€9k▼
To other reserves6921€88k€9k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5k | - | - | - | - |
| Remuneration, social security and pensions62 | - | €93k | €113k | €173k | €177k | ▲ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €5k | €4k | €14k | €17k | ▲ 19.5% |
| Other operating charges640/8 | - | €2k | €3k | €4k | €2k | ▼ 59.0% |
| Gross operating margin9900 | €114k | €166k | €218k | €323k | €219k | ▼ 32.2% |
| Operating profit (loss)9901 | €35k | €67k | €99k | €132k | €24k | ▼ 81.9% |
| Financial income75/76B | - | €360 | €37 | €48 | €131 | ▲ 176% |
| Recurring financial income75 | €55 | €360 | €37 | €48 | €131 | ▲ 176% |
| Financial charges65/66B | - | €5k | €3k | €10k | €9k | ▼ 2.7% |
| Recurring financial charges65 | €4k | €5k | €3k | €9k | €9k | ▼ 1.5% |
| Non-recurring financial charges66B | - | - | - | €112 | - | - |
| Profit (loss) for the period before taxes9903 | €31k | €62k | €95k | €123k | €15k | ▼ 87.9% |
| Income taxes67/77 | €7k | €17k | €26k | €35k | €6k | ▼ 82.3% |
| Profit (loss) for the period9904 | €24k | €44k | €69k | €88k | €9k | ▼ 90.2% |
| Profit (loss) for the period to be appropriated9905 | €24k | €44k | €69k | €88k | €9k | ▼ 90.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €146k | €229k | €377k | €531k | €500k | ▼ 5.7% |
| Fixed assets21/28 | €17k | €15k | €48k | €110k | €103k | ▼ 6.3% |
| Tangible fixed assets22/27 | €9k | €8k | €41k | €103k | €96k | ▼ 6.7% |
| Furniture and vehicles24 | - | €5k | €5k | €8k | €9k | ▲ 19.0% |
| Other tangible fixed assets26 | - | €3k | €35k | €95k | €87k | ▼ 8.8% |
| Financial fixed assets28 | €7k | €7k | €7k | €7k | €7k | = |
| Current assets29/58 | €130k | €214k | €329k | €421k | €397k | ▼ 5.6% |
| Stocks and contracts in progress3 | €65k | €71k | €71k | €74k | €112k | ▲ 52.5% |
| Stocks30/36 | - | €71k | €71k | €74k | €112k | ▲ 52.5% |
| Amounts receivable within one year40/41 | €34k | €101k | €36k | €38k | €35k | ▼ 6.4% |
| Trade receivables40 | - | €14k | €26k | - | - | - |
| Other amounts receivable41 | - | €87k | €10k | €38k | €35k | ▼ 6.4% |
| Cash at bank and in hand54/58 | €29k | €41k | €212k | €304k | €246k | ▼ 19.3% |
| Deferred charges and accrued income490/1 | - | €2k | €10k | €5k | €4k | ▼ 18.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €146k | €229k | €377k | €531k | €500k | ▼ 5.7% |
| Equity10/15 | €59k | €104k | €173k | €261k | €270k | ▲ 3.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | - | €19k | €19k | €19k | €19k | = |
| Other1109/19 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €22k | €64k | €132k | €219k | €228k | ▲ 3.9% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €63k | €130k | €218k | €226k | ▲ 3.9% |
| Profit (loss) carried forward14 | €19k | €21k | €22k | €23k | €23k | ▲ 0.7% |
| Amounts payable17/49 | €87k | €125k | €204k | €270k | €231k | ▼ 14.4% |
| Amounts payable after more than one year17 | €4k | €2k | €16k | €61k | €47k | ▼ 23.2% |
| Financial debts170/4 | - | €2k | €16k | €61k | €47k | ▼ 23.2% |
| Amounts payable within one year42/48 | €83k | €123k | €188k | €209k | €184k | ▼ 11.9% |
| Current portion of amounts payable after more than one year42 | - | €2k | €15k | €14k | €14k | ▲ 4.6% |
| Financial debts43 | - | - | - | €12k | €12k | ▼ 2.8% |
| Credit institutions430/8 | - | - | - | €12k | €12k | ▼ 2.8% |
| Trade debts44 | €1k | €30 | €78 | €17k | €60k | ▲ 252% |
| Suppliers440/4 | - | €30 | €78 | €17k | €60k | ▲ 252% |
| Taxes, remuneration and social security45 | - | €102k | €150k | €149k | €80k | ▼ 46.6% |
| Taxes450/3 | - | €71k | €108k | €96k | €50k | ▼ 47.9% |
| Remuneration and social security454/9 | - | €31k | €42k | €53k | €30k | ▼ 44.4% |
| Other amounts payable47/48 | - | €19k | €23k | €17k | €18k | ▲ 9.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €44k | €69k | €88k | €9k | ▼ 90.2% |
| + Depreciation and write-downs630 | €4k | €5k | €4k | €14k | €17k | ▲ 19.5% |
| Operating cash flow (approximation) | €28k | €49k | €73k | €102k | €25k | ▼ 75.2% |
| Investment in fixed assets (approximation) | - | €-3k | €-37k | €-76k | €-10k | ▲ 87.3% |
| Change in cash | - | €12k | €172k | €92k | €-59k | ▼ 164% |
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
2025
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
31-12
Financial
Highest result since 2018net €88k ▲27%
Operating result €132k, net result €88k, both a record.
31-12
Financial
Equity above €200kEq €261k ▲50.9%
6 profitable years in a row build equity to €261k.
11-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 42 days late
2022
31-12
Financial
Equity above €150kEq €173k ▲66.8%
5 profitable years in a row build equity to €173k.
23-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 54 days late
2021
31-12
Financial
Equity above €100kEq €104k ▲75%
4 profitable years in a row build equity to €104k.
12-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 43 days late
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 108 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
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.
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Directors · office · real estate
Directors
2 acts for this company are 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, Ukkel · 4 establishment units since 2015
Ground area
2,023 m²
Building footprint
1,356 m²
Volume, LiDAR
13,660 m³
4 parcels, Brussels, Flanders · tallest building 34.9 m, ±10 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
4 establishment units
Cig2Vap Danco/Globe
since 20152.246.198.415
Cig2Vap Brugmann Vdk
since 20172.293.619.636
Cig2vap Carrefour Drogenbos
since 20172.293.619.735
Cig2vap Louise
since 20222.332.913.247
4 parcels
Flanders
1
(25%)
Brussels
3
(75%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22001B0043/00M002 | Flanders | 1,350 m² | 1 · 820 m² | 8.2 m · 2 fl. |
| 21807G0114/00P000 | Brussels | 234 m² | 1 · 186 m² | 34.9 m · 10 fl. |
| 21016B0276/00W041 | Brussels | 220 m² | 1 · 133 m² | 19.6 m · 5 fl. |
| 21614E0098/00T000 | Brussels | 219 m² | 1 · 217 m² | 17.4 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Dual-learning approval
1 endedWinkelbediende (so)
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Of 27 companies in sector 12000 we hold annual accounts for 20. 7 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
Founded26-05-2015
Fiscal year end31-12
Activities, NACEBEL 2025
12000Manufacture of tobacco products
47770Retail sale of watches and jewellery
47260Retail trade
Contact
Scores and ratios are computed by Checked and are not a credit decision.