CABEGER
ActiveSummary
CABEGER has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €84,217 and a net result of €42,580. Equity has been growing by about 32% per year since 2018. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-02-1990 Normal situation
- Activity
- No activity registered in the KBO
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- €65,606
- ▼ 35.0%
- Turnover
- ≈ €200,000
- estimated
- Profit
- €42,580
- ▼ 53.4%
- Equity
- €84,217
- ▲ 102%
- Total assets
- €85,989
- ▲ 30.8%
Score breakdownlowers riskFounded in 1990Size: total assets €85,989Liquidity: current ratio 30.12, cash €38,616Equity €84,217 (97.9% of total assets)Show the evidence
Checked score
Score 2025
99
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 90% of micro companies without a NACE code
Financial strength · tick: 2024
Strong
Solvency
100+12
equity 97.9% of total assets
Liquidity
100+38
short-term debt 2.1% · cash 44.9%
Profitability
100=
return on assets 49.5%
Bankruptcy probability within 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).
Last 24 months
12-2024: 0.5%
01-2025: 0.5%● unchanged vs 12-2024
02-2025: 0.5%● unchanged vs 01-2025
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 0.5%● unchanged vs 04-2025highest value
06-2025: 0.2%▼ -0.3 percentage points vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.3%▲ +0.1 percentage points vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.1%▼ -0.2 percentage points vs 05-2026lowest value
07-2026: 0.1%● unchanged 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
11-2026: 0.1%● unchanged vs 10-2026lowest value
Credit of up to €8,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 30.12 (1.36 in 2024), above the usual 1.5. Short-term debt is 2.1% and cash 44.9% of total assets. 2.1% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 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 (no NACE code, micro). It does better than 81% of them on solvency, 95% on liquidity, 90% on profitability and 92% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskneutral
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 18-05-2026, 74 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
74 days early
2024
76 days early
2023
63 days early
2022
61 days early
2021
72 days early
2020
50 days early
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 52 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were 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 20 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 18-05-2026 PDF all 36 filings
Turnover
≈ €200,000
Estimated: probably between €130,000 and €340,000
Total assets
€85,989▲ 30.8%
2024 · €65,752
Net result
€42,580▼ 53.4%
2024 · €91,323
Working capital
€51,595▲ 498%
2024 · €8,626
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€62,251
▼ 35.8%
2025
20182025
Net result
€42,580
▼ 53.4%
2025
20182025
Equity
€84,217
▲ 102%
2025
20182025
Total assets
€85,989
▲ 30.8%
2025
20182025
Debt
€1,772
▼ 92.7%
2025
20182025
Working capital
€51,595
▲ 498%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€46,450-€156,178▲ 236%€1,191▼ 99.2%€19,056▲ 16×€55,336▲ 190%€441,788▲ 698%€96,919▼ 78.1%€62,251▼ 35.8%
Net result-€137,033-€150,949-€2,775€16,428-€128,532€249,009€91,323▼ 63.3%€42,580▼ 53.4%
Equity-€334,772--€183,823▲ 45.1%-€186,598▼ 1.5%-€170,170▲ 8.8%-€298,694▼ 75.5%-€49,686▲ 83.4%€41,638€84,217▲ 102%
Total assets€281,126-€334,777▲ 19.1%€241,519▼ 27.9%€136,422▼ 43.5%€166,864▲ 22.3%€113,401▼ 32.0%€65,752▼ 42.0%€85,989▲ 30.8%
Debt€615,898-€518,600▼ 15.8%€428,117▼ 17.4%€306,591▼ 28.4%€276,315▼ 9.9%€163,086▼ 41.0%€24,114▼ 85.2%€1,772▼ 92.7%
Working capital-€233,658--€34,200▲ 85.4%-€178,161▼ 421%-€172,202▲ 3.3%-€125,225▲ 27.3%-€80,128▲ 36.0%€8,626€51,595▲ 498%
The operating result for 2025 is 36% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €85,989
Fixed assets
€32,622 ▼ 1.2%
Current assets
€53,367 ▲ 63.0%
Equity and liabilities €85,989
Equity
€84,217 ▲ 102%
Debt
€1,772 ▼ 92.7%
Debt's share of the balance-sheet total falls from 36.7% to 2.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€62,643▼
2024 · €97,355
Cash flow
€42,971▼
2024 · €91,760
Current ratio
30.12▲
2024 · 1.36
Debt to equity
0.02▼
2024 · 0.58
ROE
50.6%▼
2024 · 219.3%
ROA
49.5%▼
2024 · 138.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€1,772▼
2024 · €24,112
Income taxes
€19,457▲
2024 · €5,157
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €4,250 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,712 | €5,184 | €4,843 | €3,445 | €1,545 | €455 | €437 | €391 | ▼ 10.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €189,244 | -€189,244 | - | - | - |
| Other operating charges640/8 | - | - | - | €2,869 | €7,907 | €3,368 | €3,550 | €2,963 | ▼ 16.5% |
| Gross operating margin9900 | €64,446 | €165,282 | €10,670 | €25,370 | €254,032 | €256,367 | €100,905 | €65,606 | ▼ 35.0% |
| Operating profit (loss)9901 | €46,450 | €156,178 | €1,191 | €19,056 | €55,336 | €441,788 | €96,919 | €62,251 | ▼ 35.8% |
| Financial income75/76B | - | - | - | - | €2 | - | - | €0 | - |
| Recurring financial income75 | €22 | €2 | €4 | - | €2 | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €2,209 | €183,503 | €192,415 | €438 | €215 | ▼ 51.0% |
| Recurring financial charges65 | €182,993 | €4,900 | €3,654 | €2,209 | €183,503 | €192,415 | €438 | €215 | ▼ 51.0% |
| Profit (loss) for the period before taxes9903 | -€136,521 | €151,280 | -€2,459 | €16,847 | -€128,164 | €249,374 | €96,480 | €62,037 | ▼ 35.7% |
| Income taxes67/77 | €512 | €331 | €316 | €419 | €368 | €365 | €5,157 | €19,457 | ▲ 277% |
| Profit (loss) for the period9904 | -€137,033 | €150,949 | -€2,775 | €16,428 | -€128,532 | €249,009 | €91,323 | €42,580 | ▼ 53.4% |
| Profit (loss) for the period to be appropriated9905 | -€137,033 | €150,949 | -€2,775 | €16,428 | -€128,532 | €249,009 | €91,323 | €42,580 | ▼ 53.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €281,126 | €334,777 | €241,519 | €136,422 | €166,864 | €113,401 | €65,752 | €85,989 | ▲ 30.8% |
| Formation expenses20 | - | - | - | - | - | €0 | €0 | €0 | - |
| Fixed assets21/28 | €47,877 | €42,693 | €38,895 | €35,450 | €33,905 | €33,450 | €33,014 | €32,622 | ▼ 1.2% |
| Intangible fixed assets21 | - | - | - | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €47,877 | €42,693 | €38,895 | €35,450 | €33,905 | €33,450 | €33,014 | €32,622 | ▼ 1.2% |
| Land and buildings22 | - | - | - | €13,717 | €13,364 | €13,014 | €12,682 | €12,395 | ▼ 2.3% |
| Plant, machinery and equipment23 | - | - | - | €846 | €741 | €637 | €532 | €428 | ▼ 19.6% |
| Furniture and vehicles24 | - | - | - | €20,888 | €19,800 | €19,800 | €19,800 | €19,800 | = |
| Other tangible fixed assets26 | - | - | - | - | - | €0 | €0 | €0 | - |
| Current assets29/58 | €233,249 | €292,084 | €202,624 | €100,971 | €132,959 | €79,951 | €32,738 | €53,367 | ▲ 63.0% |
| Amounts receivable within one year40/41 | €152,643 | €78,033 | €76,746 | €85,299 | €85,993 | €77,261 | €17,525 | €14,751 | ▼ 15.8% |
| Trade receivables40 | - | - | - | €85,299 | €85,993 | €77,226 | €15,934 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €35 | €1,591 | €14,751 | ▲ 827% |
| Current investments50/53 | €12 | €11 | €310 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €80,593 | €14,040 | €120,568 | €15,672 | €46,966 | €2,690 | €15,213 | €38,616 | ▲ 154% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €281,126 | €334,777 | €241,519 | €136,422 | €166,864 | €113,401 | €65,752 | €85,989 | ▲ 30.8% |
| Equity10/15 | -€334,772 | -€183,823 | -€186,598 | -€170,170 | -€298,694 | -€49,686 | €41,638 | €84,217 | ▲ 102% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €6,402 | €6,402 | €6,402 | €6,402 | €6,402 | €6,402 | €23,046 | €65,625 | ▲ 185% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | €4,543 | €4,543 | €4,543 | €23,046 | €65,625 | ▲ 185% |
| Profit (loss) carried forward14 | -€359,766 | -€208,817 | -€211,592 | -€195,163 | -€323,688 | -€74,680 | - | - | - |
| Provisions and deferred taxes16 | - | - | - | - | €189,244 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €189,244 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €189,244 | - | - | - | - |
| Amounts payable17/49 | €615,898 | €518,600 | €428,117 | €306,591 | €276,315 | €163,086 | €24,114 | €1,772 | ▼ 92.7% |
| Amounts payable after more than one year17 | €145,546 | €187,877 | €41,097 | €27,648 | €15,101 | - | - | - | - |
| Financial debts170/4 | - | - | - | €27,648 | €15,101 | - | - | - | - |
| Amounts payable within one year42/48 | €466,907 | €326,284 | €380,785 | €273,174 | €258,184 | €160,079 | €24,112 | €1,772 | ▼ 92.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,046 | €13,677 | €15,101 | €1,173 | - | - |
| Financial debts43 | - | - | - | - | €10 | €20 | €9 | €21 | ▲ 135% |
| Credit institutions430/8 | - | - | - | - | €10 | €20 | €9 | €21 | ▲ 135% |
| Trade debts44 | €74,841 | €17,298 | €2,768 | €8,613 | €5,850 | €22,631 | €1,121 | €1,701 | ▲ 51.7% |
| Suppliers440/4 | - | - | - | €8,613 | €5,850 | €22,631 | €1,121 | €1,701 | ▲ 51.7% |
| Taxes, remuneration and social security45 | - | - | - | €8,385 | €361 | €361 | - | - | - |
| Taxes450/3 | - | - | - | €8,385 | €361 | €361 | - | - | - |
| Other amounts payable47/48 | - | - | - | €239,130 | €238,286 | €121,966 | €21,810 | €50 | ▼ 99.8% |
| Accrued charges and deferred income492/3 | - | - | - | €5,770 | €3,029 | €3,008 | €2 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€137,033 | €150,949 | -€2,775 | €16,428 | -€128,532 | €249,009 | €91,323 | €42,580 | ▼ 53.4% |
| + Depreciation and write-downs630 | €9,712 | €5,184 | €4,843 | €3,445 | €1,545 | €455 | €437 | €391 | ▼ 10.4% |
| Operating cash flow (approximation) | -€127,321 | €156,134 | €2,068 | €19,873 | -€126,987 | €249,464 | €91,760 | €42,971 | ▼ 53.2% |
| Investment in fixed assets (approximation) | - | €0 | -€1,045 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€66,553 | €106,528 | -€104,896 | €31,294 | -€44,276 | €12,523 | €23,403 | ▲ 86.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as CABEGER has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CABEGER itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for CABEGER. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-05-2026 | 2026-00112920 | |
| 31-12-2024 | micro format | 16-05-2025 | 2025-00096386 | |
| 31-12-2023 | micro format | 29-05-2024 | 2024-00110635 | |
| 31-12-2022 | micro format | 31-05-2023 | 2023-00103027 | |
| 31-12-2021 | micro format | 20-05-2022 | 2022-20036184 | |
| 31-12-2020 | micro format | 11-06-2021 | 2021-19100164 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-50200345 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-51300186 | |
| 31-12-2017 | micro format | 27-07-2018 | 2018-39600203 | |
| 31-12-2016 | micro format | 22-08-2017 | 2017-47200300 |
Board & ownership
Directors
Directors
1 director, no change since 2024
VAN CALCK Michel
Current
Director (not named in the articles) · since 30-12-2008 · earlier manager, until 31-12-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 18-05-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Pouvoirs de l'organe d'administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est attribuée…”
deed of 31-12-2024Owners and capital
Capital transactions
Capital over time
- 31-12-2024 Converted to unavailable equity
Mandate history
1 person, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| VAN CALCK Michel |
|
Network & group
CABEGER shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of CABEGER. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
18-05
micro format · 74 days before the deadline
2025
31-12
Financial
Liquidity more than 22 timescurrent ratio 30.12
The current ratio rises from 1.36 to 30.12. Short-term debt falls from €24,112 to €1,772.
16-05
micro format · 76 days before the deadline
2024
31-12
Financial
Liquidity more than doubledcurrent ratio 1.36
The current ratio rises from 0.50 to 1.36. Short-term debt falls from €160,079 to €24,112.
31-12
Gazette deed
Change of role: VAN CALCK Michel, from manager to directorAmendment of the articles · Capital conversion · Reserve release10 points ▸
Gazette deed
Change of role: VAN CALCK Michel, from manager to director
Amendment of the articles · Capital conversion · Reserve release10 points ▸
- Other provision, 12-12-2024
- General meeting, 05-12-2024
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “comptes de capitaux propres statutairement indisponibles” (deed in French)
- Reserve release, “supprimer le compte de capitaux propres statutairement indisponibles, disponibles à la distribution” (deed in French)
- Share issue, 750, “rémunération des apports” (deed in French)
- Director resignation, VAN CALCK Michel (manager)
- Director discharge, VAN CALCK Michel
- Director appointment, VAN CALCK Michel (director (not named in the articles))
- Registered office clause, “1030 Schaerbeek, clos des Poètes”, 4 (deed in French)
29-05
micro format · 63 days before the deadline
2023
31-12
Financial
Back to profitnet €249,009
The net result is €249,009, after one loss-making year.
31-05
micro format · 61 days before the deadline
2022
20-05
micro format · 72 days before the deadline
2021
31-12
Financial
Back to profitnet €16,428
The net result is €16,428, after one loss-making year.
11-06
micro format · 50 days before the deadline
2020
31-08
micro format · 31 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €150,949
The net result is €150,949, after one loss-making year.
26-08
micro format · 26 days late
2018
27-07
micro format · 4 days before the deadline
2017
22-08
micro format · 22 days late
1990
20-03
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
CABEGER in French
Enterprise number
0440.234.993
LEI code
549300UGFD46N2Q5EN09
no longer live in the LEI register
Legal form
Private limited company
Status
Active, normale toestand
Founded
21-02-1990
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 31-12-2024 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale, transfert en tout autre endroit de la région de langue française de Belgique ou de la région de…”
deed of 31-12-2024 (in French)Registered office and establishments
Registered office
Dichtersgaarde 4, 1030 Schaarbeek, Belgium
Invoicing and payment
VAT number
BE 0440.234.993
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
168 m²
Building footprint
70 m²
Building volume
479 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21904B0096/00X003 | Brussels | 168 m² | 1 · 70 m² | 10.2 m · 2 |