Equity
€144,656 ▼ 35.7%
CADE paid out €130,000 in dividends. That is 261% of the 2025 profit.
CADE
Lifetime
8 annual accounts with figures on one time axispeak €118,497 (2020)
€113,640▲ 23.4%
peak €70,611 (2020)
€49,747▼ 1.2%
peak €224,909 (2024)
€144,656▼ 35.7%
€176,959▲ 383%
peak 0.7 FTE (2018)
-not published
Board2 names since 2017
2 directorsVERMEIREN Denis and 1 other
Documentsfilings and deeds
25-12-202537 days before the deadline
2025micro format
Gross margin from €92,101 to €113,640Dividend €130,000Equity from €224,909 to €144,656Debts from €36,640 to €176,959Investments €207,839Cash from €110,569 to €11,459
Key points
from the 2025 annual accountsDebts
€176,959 ▲ 383%
Debts rose by €140,319 in 2025.
Securities
€137,500
Mortgages, new in 2025. 95.1% of equity · not in the 2024 accounts.
Investments
€207,839 4.4 × depreciation
Green is investment, beige is depreciation.
Liquidity
1.00 was 5.10 in 2024
Short-term debts rose from €26,485 to €34,772.
Filings
8 annual accounts since 2018
The last five annual accounts were filed 37 to 50 days before the end of the period.
Checked score
70
Healthy
Financially stronger than 46% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
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%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025lowest value
08-2025: 0.1%● unchanged vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
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: 0.6%▲ +0.5 percentage points vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.5%▼ -0.1 percentage points vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.6%▲ +0.1 percentage points vs 09-2026highest value
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 1.00, cash €11,459, halved
lowers risk
Size: total assets €321,615
Equity €144,656 (45.0% of total assets)
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 (NACE 43, micro). It does better than 48% of them on solvency, 50% on liquidity, 73% on profitability and 12% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as CADE has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CADE itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,448 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 26,972 companies, not a prediction for CADE. 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.
Credit verdict
Credit of up to €10,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.0 (5.1 in 2024), below the usual 1.5. Short-term debt is 10.8% and cash 3.6% of total assets. 55% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 25-12-2025, 37 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
37 days early
2024
50 days early
2023
47 days early
2022
42 days early
2021
45 days early
2020
34 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 41 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 17 December (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
30-06-2026 year end11-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0670689276
Company renamed from SCHRIJNWERKERIJ DENNIS VERMEIREN to CADE
Change of role: VERMEIREN Denis, from manager to director · Appointment: VISSERS Caroline (director) · “3. Activiteiten op het vlak van geestelijke gezondheidszorg,met uitzondering van psychiatrische ziekenhuizen…” (deed in Dutch) · General meeting of 13-09-2023 · Gazette deed
Incorporation
published on 06-02-2017 · Gazette deed
First establishment
Koning Boudewijnlaan 10, Wuustwezel
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CADE Wuustwezel | €321,615 | €113,640 | 45.0% | - |
| RDS Putte | €386,645 | €112,341 | 38.0% | 2.2 |
| M.N.M. Construct Antwerp | €303,814 | €98,881 | 55.2% | - |
| SCHRIJNWERKERIJ MALO Oudenaarde | €353,223 | €110,844 | 22.2% | - |
| GS TOIT & BOIS Spa | €322,623 | €126,002 | 6.5% | - |
| De Somviele Lievegem | €309,596 | €127,883 | 36.9% | 2 |
| MERLIJN Frasnes-lez-Anvaing | €274,065 | €124,723 | 28.0% | - |
These companies have the same main activity as CADE: joinery installation (NACE 43320). They are comparable in size and age: total assets between €274,000 and €387,000, founded between 2016 and 2018.
Official details
Source: KBO- Status
- Active since 02-02-2017Normal situation
- Activity
- Joinery installationNACE 43320and 3 others
- Joint committee
- 124Construction · annual accounts 30-06-2022
- Establishment unit
- 2.261.073.9582990 Wuustwezel, since 02-02-2017
- Financial year end
- 30 June
- Peppol
- Reachable since 05-12-2024
Annual accounts to 30-06-2025
- ≈ €420,000estimated
- €321,615▲ 23.0%
- Filing
- Filed on 25-12-2025, 37 days before the end of the filing period
Insights on CADE
CADE files the micro format. That format states no turnover. The gross margin rose from €68,891 in 2018 to €113,640 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CADE
- What is the company number of CADE?
- The company number of CADE is 0670.689.276. The VAT number is the same number with BE in front: BE 0670.689.276.
- Where is CADE based?
- The registered office is at Koning Boudewijnlaan 10, 2990 Wuustwezel.Company details
- What does CADE do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of CADE?
- CADE is a private limited company (BV).
- When was CADE founded?
- CADE was founded on 02-02-2017.
- Is CADE still active?
- Yes, CADE is an active enterprise in the KBO register.
- How many employees does CADE have?
- CADE had an average of 0.1 full-time equivalents in financial year 2021, according to the filed annual accounts.Financials
- Which joint committee does CADE fall under?
- In its 30-06-2022 annual accounts, CADE states joint committee 124 (Construction).
- What is the turnover of CADE?
- The turnover in financial year 2025 is ≈ €420,000. This figure is estimated from the gross margin of €113,640 and 36 comparable companies (NACE 43320). It probably lies between €300,000 and €580,000.
- Is CADE profitable?
- In financial year 2025, CADE made a profit of €49,747.
- Where can I find the annual accounts of CADE?
- CADE filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CADE due?
- CADE must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
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