CADEOS
ActiveSummary
CADEOS has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €335,625 and a net result of €1,365. Equity is growing by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+5
Solvency100=
Growth67▼-1
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 7.89 against 13.13 in 2024; short-term debt: 6.8% and cash: 12.9% of total assets), and 6.8% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
93.2%
Return on assets
0.4%
Age of the figures
12 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-05-2026, 8 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 · 10 filingsDeviation from the deadline
2025
8 d late
2024
14 d early
2023
72 d late
2022
59 d early
2021
4 d early
2020
22 d early
2019
31 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 7 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€118,492▲ 1.3%
2024 · €116,968
EBIT margin
12.5%▲ 9.6pp
2024 · 2.9%
Net result
€1,365▼ 55.8%
2024 · €3,089
Working capital
€169,676▲ 10.3%
2024 · €153,769
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Turnover€99,167▲ 9.0%€98,988▼ 0.2%€109,402▲ 10.5%€116,968▲ 6.9%€118,492▲ 1.3%
Operating result€30,744▲ 42.6%€27,768▼ 9.7%€15,073▼ 45.7%€3,374▼ 77.6%€14,759▲ 337%
Net result€22,403within the sector's middle half▲ 49.3%€20,211within the sector's middle half▼ 9.8%€14,794within the sector's middle half▼ 26.8%€3,089within the sector's middle half▼ 79.1%€1,365within the sector's middle half▼ 55.8%
EBIT margin31.0%▲ 7.3pp28.1%▼ 3.0pp13.8%▼ 14.3pp2.9%▼ 10.9pp12.5%▲ 9.6pp
Equity€296,165within the sector's middle half▲ 8.2%€316,376within the sector's middle half▲ 6.8%€331,170above the sector's middle half▲ 4.7%€334,259above the sector's middle half▲ 0.9%€335,625above the sector's middle half▲ 0.4%
Total assets€315,683within the sector's middle half▲ 8.0%€347,540within the sector's middle half▲ 10.1%€344,688within the sector's middle half▼ 0.8%€346,934within the sector's middle half▲ 0.7%€360,264within the sector's middle half▲ 3.8%
Debt€19,519▲ 5.6%€31,164▲ 59.7%€13,518▼ 56.6%€12,675▼ 6.2%€24,639▲ 94.4%
Working capital€72,048▲ 105%€118,476▲ 64.4%€136,137▲ 14.9%€153,769▲ 13.0%€169,676▲ 10.3%
Solvency93.8%above the sector's middle half▲ 0.1pp91.0%above the sector's middle half▼ 2.8pp96.1%above the sector's middle half▲ 5.0pp96.3%above the sector's middle half▲ 0.3pp93.2%above the sector's middle half▼ 3.2pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 337% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €360,264
Fixed assets
€165,949 ▼ 8.1%
Current assets
€194,315 ▲ 16.7%
Equity and liabilities €360,264
Equity
€335,625 ▲ 0.4%
Debt
€24,639 ▲ 94.4%
Debt's share of the balance-sheet total rises from 3.7% to 6.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29,301▲
2024 · €17,916
Cash flow
€15,907▼
2024 · €17,631
Current ratio
7.89▼
2024 · 13.13
Debt to equity
0.07▲
2024 · 0.04
ROE
0.4%▼
2024 · 0.9%
ROA
0.4%▼
2024 · 0.9%
Interest coverage
67.59▲
2024 · 62.97
Debt ≤ 1 year
€24,639▲
2024 · €12,675
Income taxes
€12,960
Staff costs
€41,931▲
2024 · €41,120
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 16,986 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €99,167 | €98,988 | €109,402 | €116,968 | €118,492 | ▲ 1.3% |
| Non-recurring operating income76A | €3,395 | €3,088 | - | €3,488 | €3,771 | ▲ 8.1% |
| Goods, raw materials, services and sundry goods60/61 | €10,510 | €14,571 | €38,393 | €35,661 | €37,320 | ▲ 4.6% |
| Remuneration, social security and pensions62 | €35,359 | €33,519 | €41,394 | €41,120 | €41,931 | ▲ 2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,542 | €14,542 | €14,542 | €14,542 | €14,542 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €11,406 | €11,675 | - | €25,759 | €13,712 | ▼ 46.8% |
| Operating charges capitalised as restructuring costs649 | €0 | - | - | - | - | - |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €92,051 | €87,504 | €71,009 | €84,795 | €84,944 | ▲ 0.2% |
| Operating profit (loss)9901 | €30,744 | €27,768 | €15,073 | €3,374 | €14,759 | ▲ 337% |
| Financial income75/76B | €0 | - | - | - | - | - |
| Recurring financial income75 | €0 | - | - | - | - | - |
| Non-recurring financial income76B | €0 | - | - | - | - | - |
| Financial charges65/66B | €186 | €199 | €279 | €285 | €434 | ▲ 52.4% |
| Recurring financial charges65 | €186 | €199 | €279 | €285 | €434 | ▲ 52.4% |
| Non-recurring financial charges66B | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €30,558 | €27,569 | €14,794 | €3,089 | €14,325 | ▲ 364% |
| Transfer from deferred taxes780 | €0 | - | - | - | - | - |
| Transfer to deferred taxes680 | €0 | - | - | - | - | - |
| Income taxes67/77 | €8,155 | €7,357 | - | - | €12,960 | - |
| Profit (loss) for the period9904 | €22,403 | €20,211 | €14,794 | €3,089 | €1,365 | ▼ 55.8% |
| Transfer from tax-exempt reserves789 | €0 | - | - | - | - | - |
| Transfer to tax-exempt reserves689 | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €22,403 | €20,211 | €14,794 | €3,089 | €1,365 | ▼ 55.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €315,683 | €347,540 | €344,688 | €346,934 | €360,264 | ▲ 3.8% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €224,117 | €209,575 | €195,033 | €180,491 | €165,949 | ▼ 8.1% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €223,951 | €209,409 | €194,867 | €180,325 | €165,783 | ▼ 8.1% |
| Land and buildings22 | €223,951 | €209,409 | €194,867 | €180,325 | €165,783 | ▼ 8.1% |
| Plant, machinery and equipment23 | €0 | - | - | - | - | - |
| Furniture and vehicles24 | €0 | - | - | - | - | - |
| Leasing and similar rights25 | €0 | - | - | - | - | - |
| Other tangible fixed assets26 | €0 | - | - | - | - | - |
| Assets under construction and advance payments27 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €165 | €165 | €165 | €165 | €165 | = |
| Current assets29/58 | €91,567 | €137,965 | €149,655 | €166,443 | €194,315 | ▲ 16.7% |
| Amounts receivable after more than one year29 | €0 | - | - | - | - | - |
| Trade receivables290 | €0 | - | - | - | - | - |
| Other amounts receivable291 | €0 | - | - | - | - | - |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Stocks30/36 | €0 | - | - | - | - | - |
| Contracts in progress37 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €56,678 | €110,506 | €110,506 | €129,033 | €132,804 | ▲ 2.9% |
| Trade receivables40 | €0 | €1,237 | €1,237 | €8,366 | €8,366 | = |
| Other amounts receivable41 | €56,678 | €109,270 | €109,270 | €120,668 | €124,438 | ▲ 3.1% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €34,889 | €27,459 | €18,157 | €16,339 | €46,511 | ▲ 185% |
| Deferred charges and accrued income490/1 | - | - | €20,992 | €21,071 | €15,000 | ▼ 28.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €315,683 | €347,540 | €344,688 | €346,934 | €360,264 | ▲ 3.8% |
| Equity10/15 | €296,165 | €316,376 | €331,170 | €334,259 | €335,625 | ▲ 0.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Uncalled capital101 | €0 | - | - | - | - | - |
| Outside capital11 | €0 | - | - | - | - | - |
| Share premium1100/10 | €0 | - | - | - | - | - |
| Other1109/19 | €0 | - | - | - | - | - |
| Revaluation surpluses12 | €0 | - | - | - | - | - |
| Reserves13 | €8,892 | €8,892 | €8,892 | €8,892 | €8,892 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves not available under the articles1311 | €0 | - | - | - | - | - |
| Own shares acquired1312 | €0 | - | - | - | - | - |
| Financial assistance1313 | €0 | - | - | - | - | - |
| Other1319 | €0 | - | - | - | - | - |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €2,692 | €2,692 | €2,692 | €2,692 | €2,692 | = |
| Profit (loss) carried forward14 | €199,535 | €219,746 | €234,540 | €237,630 | €238,995 | ▲ 0.6% |
| Investment grants15 | €25,738 | €25,738 | €25,738 | €25,738 | €25,738 | = |
| Advance to shareholders on the distribution of net assets19 | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €0 | - | - | - | - | - |
| Pensions and similar obligations160 | €0 | - | - | - | - | - |
| Taxes161 | €0 | - | - | - | - | - |
| Major repairs and maintenance162 | €0 | - | - | - | - | - |
| Environmental obligations163 | €0 | - | - | - | - | - |
| Other liabilities and charges164/5 | €0 | - | - | - | - | - |
| Deferred taxes168 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €19,519 | €31,164 | €13,518 | €12,675 | €24,639 | ▲ 94.4% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - |
| Financial debts170/4 | €0 | - | - | - | - | - |
| Trade debts175 | €0 | - | - | - | - | - |
| Advances received on contracts in progress176 | €0 | - | - | - | - | - |
| Other amounts payable178/9 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €19,519 | €19,489 | €13,518 | €12,675 | €24,639 | ▲ 94.4% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | - | - | - |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Other loans439 | €0 | - | - | - | - | - |
| Trade debts44 | €10 | €389 | €1,628 | €695 | €12,605 | ▲ 1,715% |
| Suppliers440/4 | €10 | €389 | €1,628 | €695 | €12,605 | ▲ 1,715% |
| Bills of exchange payable441 | €0 | - | - | - | - | - |
| Advances received on contracts in progress46 | €0 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €9,850 | €9,441 | €2,231 | €2,321 | €2,375 | ▲ 2.4% |
| Taxes450/3 | €8,155 | €7,357 | - | - | - | - |
| Remuneration and social security454/9 | €1,694 | €2,084 | €2,231 | €2,321 | €2,375 | ▲ 2.4% |
| Other amounts payable47/48 | €9,659 | €9,659 | €9,659 | €9,659 | €9,659 | = |
| Accrued charges and deferred income492/3 | €0 | €11,675 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,403 | €20,211 | €14,794 | €3,089 | €1,365 | ▼ 55.8% |
| + Depreciation and write-downs630 | €14,542 | €14,542 | €14,542 | €14,542 | €14,542 | = |
| Operating cash flow (approximation) | €36,945 | €34,753 | €29,336 | €17,631 | €15,907 | ▼ 9.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€7,430 | -€9,302 | -€1,818 | €30,172 | ▲ 1,759% |
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
08-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 8 days late
2025
16-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 72 days late
2023
02-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Highest result since 2018net €22,403 ▲49.3%
Operating result €30,744, net result €22,403, both a record.
08-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Liquidity triplescurrent ratio 2.90
Current ratio from 1.15 to 2.90; short-term debt falls from €38,115 to €18,490.
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-09
Financial
Back to profitnet €11,022
Net result €11,022 after one loss-making year.
30-09
Financial
Liquidity doublescurrent ratio 1.15
Current ratio from 0.48 to 1.15; short-term debt falls from €39,119 to €38,115.
16-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Brussel · 1 establishment unit since 1998
Ground area
284 m²
Building footprint
209 m²
Volume, LiDAR
2,511 m³
Parcel 21811M0747/00E000, Brussels · tallest building 17.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CADEOS
since 19982.087.201.953
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21811M0747/00E000 | Brussels | 284 m² | 1 · 209 m² | 17.0 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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RV INVEST
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 5,008 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
Founded19-05-1998
Fiscal year end30-09
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.