Cadiz
ActiveSummary
Cadiz has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.3m and a net result of €193,325. Equity is growing by ~14.4% per year across the filed fiscal years. Its solvency ranks better than 71% of 8101 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72▼-1
Solvency100▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €430,000 at 30 days acceptable
Liquidity ample (current ratio 1.72 against 1.48 in 2023; short-term debt: 13.9% and cash: 1.7% of total assets), and 24.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 2024Solvency, return and age of the figures
Solvency
75.2%
Return on assets
2.8%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-07-2025, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
6 d early
2023
37 d early
2022
25 d early
2021
6 d early
2020
25 d early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€5.3m▲ 3.3%
2023 · €5.1m
Total assets
€7.0m▼ 2.3%
2023 · €7.2m
Net result
€193,325▼ 24.1%
2023 · €254,869
Working capital
€702,439▲ 22.7%
2023 · €572,619
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20202021202220232024
Operating result€645,637▲ 42.9%€713,606▲ 10.5%€1.3m▲ 78.5%€371,595▼ 70.8%€290,540▼ 21.8%
Net result€633,235above the sector's middle half▲ 49.1%€627,525above the sector's middle half▼ 0.9%€901,319above the sector's middle half▲ 43.6%€254,869above the sector's middle half▼ 71.7%€193,325above the sector's middle half▼ 24.1%
Equity€3.3mabove the sector's middle half▲ 23.6%€3.9mabove the sector's middle half▲ 18.9%€4.8mabove the sector's middle half▲ 22.8%€5.1mabove the sector's middle half▲ 5.3%€5.3mabove the sector's middle half▲ 3.3%
Total assets€12.5mabove the sector's middle half▼ 12.7%€12.2mabove the sector's middle half▼ 2.2%€7.3mabove the sector's middle half▼ 40.3%€7.2mabove the sector's middle half▼ 1.7%€7.0mabove the sector's middle half▼ 2.3%
Debt€9.0m▼ 21.3%€8.1m▼ 10.0%€2.3m▼ 71.7%€1.9m▼ 16.4%€1.6m▼ 17.2%
Working capital€3,467€581,820▲ 16,683%€345,017▼ 40.7%€572,619▲ 66.0%€702,439▲ 22.7%
Solvency26.6%within the sector's middle half▲ 7.8pp32.3%within the sector's middle half▲ 5.7pp66.5%within the sector's middle half▲ 34.2pp71.2%within the sector's middle half▲ 4.7pp75.2%within the sector's middle half▲ 4.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 22% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.0m
Fixed assets
€5.3m ▼ 1.3%
Current assets
€1.7m ▼ 5.2%
Equity and liabilities €7.0m
Equity
€5.3m ▲ 3.3%
Provisions
€147,551 ▼ 0.7%
Debt
€1.6m ▼ 17.2%
Debt's share of the balance-sheet total falls from 26.7% to 22.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€393,876▼
2023 · €485,076
Cash flow
€296,661▼
2023 · €368,351
Current ratio
1.72▲
2023 · 1.48
Debt to equity
0.30▼
2023 · 0.38
ROE
3.7%▼
2023 · 5.0%
ROA
2.8%▼
2023 · 3.6%
Interest coverage
6.28▼
2023 · 7.20
Debt ≤ 1 year
€973,777▼
2023 · €1.2m
Debt > 1 year
€597,500▼
2023 · €707,500
Income taxes
€94,313▼
2023 · €141,685
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,832 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 1,832 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,715 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €90,549 | €91,993 | €118,912 | €113,481 | €103,337 | ▼ 8.9% |
| Other operating charges640/8 | - | €26,344 | €19,541 | €17,693 | €16,264 | ▼ 8.1% |
| Non-recurring operating charges66A | - | - | - | €76 | - | - |
| Gross operating margin9900 | €761,384 | €831,944 | €1.4m | €502,845 | €410,140 | ▼ 18.4% |
| Operating profit (loss)9901 | €645,637 | €713,606 | €1.3m | €371,595 | €290,540 | ▼ 21.8% |
| Financial income75/76B | - | €57,164 | €44,641 | €91,210 | €58,683 | ▼ 35.7% |
| Recurring financial income75 | €150,917 | €57,164 | €44,641 | €55,210 | €58,683 | ▲ 6.3% |
| Non-recurring financial income76B | - | - | - | €36,000 | - | - |
| Financial charges65/66B | - | €143,416 | €73,163 | €67,353 | €62,687 | ▼ 6.9% |
| Recurring financial charges65 | €169,820 | €143,416 | €73,163 | €67,353 | €62,687 | ▼ 6.9% |
| Profit (loss) for the period before taxes9903 | €626,734 | €627,354 | €1.2m | €395,452 | €286,536 | ▼ 27.5% |
| Transfer from deferred taxes780 | - | €1,102 | €1,102 | €1,102 | €1,102 | = |
| Income taxes67/77 | €898 | €932 | €345,000 | €141,685 | €94,313 | ▼ 33.4% |
| Profit (loss) for the period9904 | €633,235 | €627,525 | €901,319 | €254,869 | €193,325 | ▼ 24.1% |
| Transfer from tax-exempt reserves789 | - | €3,307 | €3,307 | €3,307 | €3,307 | = |
| Profit (loss) for the period to be appropriated9905 | €630,245 | €630,831 | €904,625 | €258,176 | €196,632 | ▼ 23.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.5m | €12.2m | €7.3m | €7.2m | €7.0m | ▼ 2.3% |
| Fixed assets21/28 | €4.5m | €4.5m | €5.5m | €5.4m | €5.3m | ▼ 1.3% |
| Tangible fixed assets22/27 | €4.5m | €4.5m | €4.4m | €4.4m | €4.3m | ▼ 1.7% |
| Land and buildings22 | - | €4.4m | €4.4m | €4.3m | €4.3m | ▼ 1.7% |
| Plant, machinery and equipment23 | - | €7,489 | €10,733 | €9,291 | €8,994 | ▼ 3.2% |
| Furniture and vehicles24 | - | €5,941 | €18,419 | €8,873 | €8,426 | ▼ 5.0% |
| Financial fixed assets28 | - | - | €1.0m | €1.0m | €1.0m | = |
| Current assets29/58 | €8.0m | €7.8m | €1.8m | €1.8m | €1.7m | ▼ 5.2% |
| Amounts receivable after more than one year29 | - | €499,992 | €849,977 | €849,977 | - | - |
| Other amounts receivable291 | - | €499,992 | €849,977 | €849,977 | - | - |
| Stocks and contracts in progress3 | €6.5m | €6.5m | - | - | - | - |
| Stocks30/36 | - | €6.5m | - | - | - | - |
| Amounts receivable within one year40/41 | €147,812 | €126,777 | €124,306 | €116,586 | €255,045 | ▲ 119% |
| Trade receivables40 | - | €126,777 | €124,306 | €98,887 | €97,361 | ▼ 1.5% |
| Other amounts receivable41 | - | - | - | €17,699 | €157,684 | ▲ 791% |
| Current investments50/53 | €500,008 | €417,187 | €417,187 | €417,187 | €1.3m | ▲ 204% |
| Cash at bank and in hand54/58 | €254,441 | €165,257 | €409,818 | €373,340 | €116,871 | ▼ 68.7% |
| Deferred charges and accrued income490/1 | - | €6,206 | €8,013 | €10,741 | €37,135 | ▲ 246% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.5m | €12.2m | €7.3m | €7.2m | €7.0m | ▼ 2.3% |
| Equity10/15 | €3.3m | €3.9m | €4.8m | €5.1m | €5.3m | ▲ 3.3% |
| Contributions10/11 | €4.0m | €4.0m | €4.0m | €4.0m | €4.0m | = |
| Capital10 | - | €4.0m | €4.0m | €4.0m | €4.0m | = |
| Issued capital100 | - | €4.0m | €4.0m | €4.0m | €4.0m | = |
| Reserves13 | €105,842 | €102,536 | €849,671 | €1.1m | €1.3m | ▲ 15.1% |
| Non-distributable reserves130/1 | - | €6,991 | €50,000 | €63,000 | €73,000 | ▲ 15.9% |
| Legal reserve130 | - | €6,991 | €50,000 | €63,000 | €73,000 | ▲ 15.9% |
| Tax-exempt reserves132 | - | €45,915 | €42,608 | €39,302 | €35,995 | ▼ 8.4% |
| Distributable reserves133 | - | €49,629 | €757,062 | €1.0m | €1.2m | ▲ 16.0% |
| Profit (loss) carried forward14 | -€785,015 | -€154,183 | - | - | - | - |
| Provisions and deferred taxes16 | €151,960 | €150,858 | €149,756 | €148,653 | €147,551 | ▼ 0.7% |
| Provisions for liabilities and charges160/5 | - | €135,553 | €135,553 | €135,553 | €135,553 | = |
| Pensions and similar obligations160 | - | €135,553 | €135,553 | €135,553 | €135,553 | = |
| Deferred taxes168 | - | €15,305 | €14,203 | €13,101 | €11,998 | ▼ 8.4% |
| Amounts payable17/49 | €9.0m | €8.1m | €2.3m | €1.9m | €1.6m | ▼ 17.2% |
| Amounts payable after more than one year17 | €1.1m | €931,010 | €817,500 | €707,500 | €597,500 | ▼ 15.5% |
| Financial debts170/4 | - | €931,010 | €817,500 | €707,500 | €597,500 | ▼ 15.5% |
| Amounts payable within one year42/48 | €8.0m | €7.2m | €1.5m | €1.2m | €973,777 | ▼ 18.5% |
| Current portion of amounts payable after more than one year42 | - | €131,060 | €113,510 | €110,000 | €882,000 | ▲ 702% |
| Financial debts43 | - | €6.4m | €1.1m | €980,000 | - | - |
| Credit institutions430/8 | - | €6.4m | €1.1m | €980,000 | - | - |
| Trade debts44 | €6,929 | €5,011 | €10,117 | €10,325 | €15,602 | ▲ 51.1% |
| Suppliers440/4 | - | €5,011 | €10,117 | €10,325 | €15,602 | ▲ 51.1% |
| Taxes, remuneration and social security45 | - | €43,149 | €192,448 | €94,887 | €50,526 | ▼ 46.8% |
| Taxes450/3 | - | €43,149 | €192,448 | €94,887 | €50,526 | ▼ 46.8% |
| Other amounts payable47/48 | - | €582,548 | €48,210 | - | €25,649 | - |
| Accrued charges and deferred income492/3 | - | €5,663 | €12,180 | €15,031 | €16,044 | ▲ 6.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €633,235 | €627,525 | €901,319 | €254,869 | €193,325 | ▼ 24.1% |
| + Depreciation and write-downs630 | €90,549 | €91,993 | €118,912 | €113,481 | €103,337 | ▼ 8.9% |
| Operating cash flow (approximation) | €723,784 | €719,518 | €1.0m | €368,351 | €296,661 | ▼ 19.5% |
| Investment in fixed assets (approximation) | - | -€11,665 | -€1.1m | -€32,498 | -€30,752 | ▲ 5.4% |
| Change in cash | - | -€89,184 | €244,562 | -€36,478 | -€256,469 | ▼ 603% |
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
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €5mEq €5.1m ▲5.3%
5 profitable years in a row build equity to €5.1m.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €901,319 ▲43.6%
Operating result €1.3m, net result €901,319, both a record.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
08-04
State Gazette act
Director resignation · Permanent representative
Auditor appointment
08-04
State Gazette act
Board meeting · Director appointment
Permanent representative
2019
31-12
Financial
Back to profitnet €424,770
Net result €424,770 after one loss-making year.
03-12
State Gazette act
Board meeting · Director appointment
Permanent representative
Show earlier events
22-11
State Gazette act
Board meeting · Capital increase
Bank account · Statutes amendment
05-11
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
29-10
State Gazette act
Board meeting · Director appointment
Permanent representative
03-10
State Gazette act
Board meeting · Director appointment
Permanent representative · Director resignation
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
15-05
State Gazette act
General meeting · Director resignation
Permanent representative · Director appointment
2018
31-12
State Gazette act
General meeting · Legal-form conversion
Name change · Registered-office move · Annelies Ghesquière
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 56 days late
2016
08-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Knokke-Heist · 1 establishment unit since 2002
Ground area
1,765 m²
Building footprint
315 m²
Volume, LiDAR
2,269 m³
Parcel 31332E0576/00A000, Flanders · tallest building 12.3 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Prins Filiplaan 22, 8300 Knokke-Heist
since 20022.112.505.887
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332E0576/00A000 | Flanders | 1,765 m² | 1 · 315 m² | 12.3 m · 2 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
39.12%
-
10.05%
According to the 2024 annual accounts of Cadiz and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
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Ownership & control
4 board mandatesBoard mandates of this companythis company sits on their board4
1 location
1 location
1 location
1 location
Recognitions · licences · registrations
Legal Entity Identifier
529900TPUTAT2YEZSJ59
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 10,845 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
Founded15-01-1992
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446340649
Also
9925:BE0446340649
Registered
27-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.