Cadmes Systems
ActiveSummary
Cadmes Systems has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €357k and a net result of €191k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 2699 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73=
Solvency31▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity tight (current ratio 1.06 against 1.01 in 2024; short-term debt: 92% of total assets), and 93.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
6.4%
Return on assets
3.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 2699 sector peers (2025).
NBB · sector comparisonPosition among 2699 sector peers
Solvency
better than 18%
← weakest
strongest →
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 11-05-2026, 81 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
81 d early
2024
59 d early
2023
110 d early
2022
89 d early
2021
11 d late
2020
86 d early
2019
36 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€357k▲ 116%
2024 · €165k
2018: €26k
2019: €44k▲ +68.0% vs 2018
2020: €44k● 0.0% vs 2019
2021: €224k▲ +413% vs 2020
2022: €11k▼ -95.0% vs 2021
2023: €-9k▼ -182% vs 2022lowest in 8 years
2024: €165k▲ +1913% vs 2023
2025: €357k▲ +116% vs 2024highest in 8 years
2018 → 2025
Total assets
€5.54M▲ 9.0%
2024 · €5.08M
2018: €3.34Mlowest in 8 years
2019: €3.34M● 0.0% vs 2018lowest in 8 years
2020: €3.41M▲ +1.9% vs 2019
2021: €3.42M▲ +0.4% vs 2020
2022: €4.54M▲ +32.9% vs 2021
2023: €4.14M▼ -8.9% vs 2022
2024: €5.08M▲ +22.8% vs 2023
2025: €5.54M▲ +9.0% vs 2024highest in 8 years
2018 → 2025
Net result
€191k▲ 9.8%
2024 · €174k
2018: €11k
2019: €18k▲ +61.4% vs 2018
2020: €18k● 0.0% vs 2019
2021: €-9k▼ -150% vs 2020
2022: €-213k▼ -2325% vs 2021lowest in 8 years
2023: €-20k▲ +90.5% vs 2022
2024: €174k▲ +961% vs 2023
2025: €191k▲ +9.8% vs 2024highest in 8 years
2018 → 2025
Working capital
€303k▲ 1,019%
2024 · €27k
2018: €67k
2019: €67k● 0.0% vs 2018
2020: €56k▼ -16.3% vs 2019
2021: €23k▼ -58.9% vs 2020
2022: €-143k▼ -719% vs 2021
2023: €-165k▼ -15.0% vs 2022lowest in 8 years
2024: €27k▲ +116% vs 2023
2025: €303k▲ +1019% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€224k-€11k▼ 95.0%€-9k€165k€357k▲ 116%
2021: €224k
2022: €11k▼ -95.0% vs 2021
2023: €-9k▼ -182% vs 2022lowest in 5 years
2024: €165k▲ +1913% vs 2023
2025: €357k▲ +116% vs 2024highest in 5 years
Operating result€21k-€-206k€-39k▲ 81.2%€198k€261k▲ 31.8%
2021: €21k
2022: €-206k▼ -1100% vs 2021lowest in 5 years
2023: €-39k▲ +81.2% vs 2022
2024: €198k▲ +610% vs 2023
2025: €261k▲ +31.8% vs 2024highest in 5 years
Net result€-9k-€-213k▼ 2,325%€-20k▲ 90.5%€174k€191k▲ 9.8%
2021: €-9k
2022: €-213k▼ -2325% vs 2021lowest in 5 years
2023: €-20k▲ +90.5% vs 2022
2024: €174k▲ +961% vs 2023
2025: €191k▲ +9.8% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 32% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.54M
Fixed assets
€140k ▼ 19.6%
Current assets
€5.40M ▲ 10.0%
Equity and liabilities €5.54M
Equity
€357k ▲ 116%
Provisions
€6k ▲ 5.4%
Debt
€5.18M ▲ 5.4%
Debt's share of the balance-sheet total falls from 96.6% to 93.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€296k▲
2024 · €233k
Cash flow
€226k▲
2024 · €209k
Current ratio
1.06▲
2024 · 1.01
Quick ratio
1.03▲
2024 · 0.99
Debt to equity
14.52▼
2024 · 29.73
ROE
53.7%▼
2024 · 105.5%
ROA
3.5%▲
2024 · 3.4%
Interest coverage
14.03▼
2024 · 24.96
Debt ≤ 1 year
€5.10M▲
2024 · €4.88M
Income taxes
€83k▲
2024 · €51k
Staff costs
€1.62M▲
2024 · €1.49M
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 · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.08M€5.54M▲
Fixed assets21/28€174k€140k▼
Intangible fixed assets21€132k€110k▼
Tangible fixed assets22/27€42k€30k▼
Furniture and vehicles24€29k€21k▼
Other tangible fixed assets26€12k€9k▼
Current assets29/58€4.91M€5.40M▲
Stocks and contracts in progress3€57k€145k▲
Stocks30/36€57k€145k▲
Amounts receivable within one year40/41€2.67M€2.95M▲
Trade receivables40€1.09M€1.28M▲
Other amounts receivable41€1.58M€1.67M▲
Deferred charges and accrued income490/1€2.18M€2.30M▲
Equity and liabilities
Total equity and liabilities10/49€5.08M€5.54M▲
Equity10/15€165k€357k▲
Contributions10/11€219k€219k=
Reserves13€5k€5k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€-59k€133k▲
Provisions and deferred taxes16€6k€6k▲
Provisions for liabilities and charges160/5€6k€6k▲
Other liabilities and charges164/5€6k€6k▲
Amounts payable17/49€4.91M€5.18M▲
Amounts payable within one year42/48€4.88M€5.10M▲
Trade debts44€729k€626k▼
Suppliers440/4€729k€626k▼
Advances received on contracts in progress46€3.75M€3.99M▲
Taxes, remuneration and social security45€402k€477k▲
Taxes450/3€169k€211k▲
Remuneration and social security454/9€233k€266k▲
Accrued charges and deferred income492/3€30k€80k▲
Income statement
Code20242025
Remuneration, social security and pensions62€1.49M€1.62M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€35k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€49k€-3k▼
Other operating charges640/8€4k€2k▼
Non-recurring operating charges66A€504-
Gross operating margin9900€1.78M€1.91M▲
Operating profit (loss)9901€198k€261k▲
Financial income75/76B€36k€34k▼
Recurring financial income75€36k€34k▼
Financial charges65/66B€9k€21k▲
Recurring financial charges65€9k€21k▲
Profit (loss) for the period before taxes9903€225k€274k▲
Income taxes67/77€51k€83k▲
Profit (loss) for the period9904€174k€191k▲
Profit (loss) for the period to be appropriated9905€174k€191k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-59k€133k▲
Profit (loss) brought forward from the previous period14P€-233k€-59k▲
Social balance
Average headcount (FTE)908715.616.7▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1.47M | €1.64M | €1.53M | €1.49M | €1.62M | ▲ 8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32k | €42k | €34k | €35k | €35k | ▲ 1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-25k | - | - | €49k | €-3k | ▼ 105% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €5k | €100 | €340 | - | - | - |
| Other operating charges640/8 | €3k | €31k | €15k | €4k | €2k | ▼ 31.0% |
| Non-recurring operating charges66A | - | - | - | €504 | - | - |
| Gross operating margin9900 | €1.51M | €1.51M | €1.54M | €1.78M | €1.91M | ▲ 7.5% |
| Operating profit (loss)9901 | €21k | €-206k | €-39k | €198k | €261k | ▲ 31.8% |
| Financial income75/76B | - | €8k | €30k | €36k | €34k | ▼ 6.4% |
| Recurring financial income75 | - | €8k | €30k | €36k | €34k | ▼ 6.4% |
| Financial charges65/66B | €10k | €10k | €9k | €9k | €21k | ▲ 126% |
| Recurring financial charges65 | €10k | €10k | €9k | €9k | €21k | ▲ 126% |
| Profit (loss) for the period before taxes9903 | €10k | €-208k | €-17k | €225k | €274k | ▲ 21.7% |
| Income taxes67/77 | €19k | €4k | €3k | €51k | €83k | ▲ 63.0% |
| Profit (loss) for the period9904 | €-9k | €-213k | €-20k | €174k | €191k | ▲ 9.8% |
| Profit (loss) for the period to be appropriated9905 | €-9k | €-213k | €-20k | €174k | €191k | ▲ 9.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.42M | €4.54M | €4.14M | €5.08M | €5.54M | ▲ 9.0% |
| Fixed assets21/28 | €229k | €194k | €186k | €174k | €140k | ▼ 19.6% |
| Intangible fixed assets21 | €213k | €185k | €157k | €132k | €110k | ▼ 16.8% |
| Tangible fixed assets22/27 | €16k | €9k | €29k | €42k | €30k | ▼ 28.2% |
| Furniture and vehicles24 | €10k | €9k | €21k | €29k | €21k | ▼ 29.3% |
| Other tangible fixed assets26 | €6k | - | €8k | €12k | €9k | ▼ 25.6% |
| Current assets29/58 | €3.19M | €4.35M | €3.95M | €4.91M | €5.40M | ▲ 10.0% |
| Stocks and contracts in progress3 | €9k | - | - | €57k | €145k | ▲ 156% |
| Stocks30/36 | €9k | - | - | €57k | €145k | ▲ 156% |
| Amounts receivable within one year40/41 | €798k | €2.35M | €2.08M | €2.67M | €2.95M | ▲ 10.4% |
| Trade receivables40 | €798k | €1.06M | €1.10M | €1.09M | €1.28M | ▲ 17.4% |
| Other amounts receivable41 | - | €1.29M | €977k | €1.58M | €1.67M | ▲ 5.6% |
| Cash at bank and in hand54/58 | €1.18M | €9k | - | - | - | - |
| Deferred charges and accrued income490/1 | €1.21M | €1.99M | €1.87M | €2.18M | €2.30M | ▲ 5.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.42M | €4.54M | €4.14M | €5.08M | €5.54M | ▲ 9.0% |
| Equity10/15 | €224k | €11k | €-9k | €165k | €357k | ▲ 116% |
| Contributions10/11 | €219k | €219k | €219k | €219k | €219k | = |
| Reserves13 | €5k | €5k | €5k | €5k | €5k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €3k | €3k | €3k | €3k | €3k | = |
| Profit (loss) carried forward14 | - | €-213k | €-233k | €-59k | €133k | ▲ 327% |
| Provisions and deferred taxes16 | €5k | €5k | €5k | €6k | €6k | ▲ 5.4% |
| Provisions for liabilities and charges160/5 | €5k | €5k | €5k | €6k | €6k | ▲ 5.4% |
| Other liabilities and charges164/5 | €5k | €5k | €5k | €6k | €6k | ▲ 5.4% |
| Amounts payable17/49 | €3.19M | €4.53M | €4.14M | €4.91M | €5.18M | ▲ 5.4% |
| Amounts payable within one year42/48 | €3.17M | €4.49M | €4.12M | €4.88M | €5.10M | ▲ 4.4% |
| Trade debts44 | €585k | €599k | €560k | €729k | €626k | ▼ 14.1% |
| Suppliers440/4 | €585k | €598k | €560k | €729k | €626k | ▼ 14.1% |
| Bills of exchange payable441 | - | €511 | - | - | - | - |
| Advances received on contracts in progress46 | €2.20M | €3.47M | €3.18M | €3.75M | €3.99M | ▲ 6.4% |
| Taxes, remuneration and social security45 | €380k | €425k | €378k | €402k | €477k | ▲ 18.7% |
| Taxes450/3 | €161k | €172k | €125k | €169k | €211k | ▲ 24.8% |
| Remuneration and social security454/9 | €219k | €253k | €253k | €233k | €266k | ▲ 14.3% |
| Accrued charges and deferred income492/3 | €24k | €35k | €25k | €30k | €80k | ▲ 165% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-9k | €-213k | €-20k | €174k | €191k | ▲ 9.8% |
| + Depreciation and write-downs630 | €32k | €42k | €34k | €35k | €35k | ▲ 1.7% |
| Operating cash flow (approximation) | €23k | €-171k | €13k | €209k | €226k | ▲ 8.4% |
| Investment in fixed assets (approximation) | - | €-7k | €-26k | €-22k | €-1k | ▲ 95.2% |
| Change in cash | - | €-1.17M | - | - | - | - |
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
11-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €191k ▲9.8%
Operating result €261k, net result €191k, both a record.
31-12
Financial
Equity above €200kEq €357k ▲116%
2 profitable years in a row build equity to €357k.
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €174k
Net result €174k after 3 loss-making years.
31-12
Financial
Equity above €150kEq €165k
Equity rises from €-9k to €165k.
12-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-213k
Net result drops to €-213k, the lowest in the series; recovery starts the following year.
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 11 days late
2021
31-12
Financial
Equity above €200kEq €224k ▲413%
Equity rises from €44k to €224k.
06-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
15-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 46 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Merelbeke-Melle · 2 establishment units since 2016
Ground area
3.5 ha
Building footprint
657 m²
Volume, LiDAR
13,052 m³
2 parcels, Flanders, Wallonia · tallest building 21.6 m, ±7 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
Cadmes Systems
since 20162.252.614.469
Cadmes Systems
since 20182.289.413.202
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0411/00H000 | Flanders | 3.0 ha | 1 · 657 m² | 21.6 m · 7 fl. |
| 52028B0318/00G002 | Wallonia | 5,399 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 3,000 EUR awarded · 3,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 3,000 EUR | 3,000 EUR |
Schemes
Aanwervingsincentive voor langdurig werkzoekenden (AWI) - Stopgezet
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Identification & contact
Identification
Legal formPrivate limited company
Founded27-04-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46500Wholesale of information and communication equipment
62100Computer programming
47400Retail sale of information and communication equipment
62200Computer consultancy and computer facilities management
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.