CADRAT
ActiveSummary
CADRAT has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €54,094 and a net result of -€670. Equity is shrinking by ~8% per year across the filed fiscal years. Its solvency ranks better than 95% of 8281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
What they do
Agents in non-specialised wholesale trade
NACE 46190
1 site
How big
€57,796total assets 2025
- Equity
- €54,094
- Loss
- -€670
Who decides
- Holdings
- 1
Accounts filed 28 d late0 of 3 deeds read
Why 67- Higher-failure-rate sector- Higher-failure-rate region- Persistent losses+ Long track recordFiled after the deadlineShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability35▲+35
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity short (current ratio 0.76 against 0.89 in 2024; short-term debt: 6.4% and cash: 0.2% of total assets), and 6.4% of the assets are financed with debt.
Credit check for your own amount and term
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€670
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
14 d late
2023
30 d late
2022
24 d late
2021
31 d late
2020
17 d late
2019
38 d late
← 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 26 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 28 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Annual accounts filedfiscal year 2024 · full…
- Weakest financial yearnet -€27,508
Financials
Fiscal year 2025Total assets €57,796Loss -€670Solvency 93.6%Liquidity 0.76
Turnover
€35,443
2018
Net result
-€670▲ 97.6%
2018 - 2025
Equity
€54,094▼ 1.2%
2018 - 2025
Solvency
93.6%▼ 2.5pp
2018 - 2025
Financials · fiscal year 2025, abbreviated schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€1,148▲ 89.0%€3,636-€54-€27,449▼ 50,902%-€713▲ 97.4%
Net result-€3,609below the sector's middle half▲ 66.2%€3,539below the sector's middle half-€114below the sector's middle half-€27,508below the sector's middle half▼ 24,036%-€670below the sector's middle half▲ 97.6%
EBIT margin
Equity€78,846below the sector's middle half▼ 4.4%€82,385below the sector's middle half▲ 4.5%€82,271below the sector's middle half▼ 0.1%€54,763below the sector's middle half▼ 33.4%€54,094below the sector's middle half▼ 1.2%
Total assets€87,212below the sector's middle half▼ 7.5%€83,448below the sector's middle half▼ 4.3%€84,733below the sector's middle half▲ 1.5%€56,966below the sector's middle half▼ 32.8%€57,796below the sector's middle half▲ 1.5%
Debt€8,366▼ 29.4%€1,063▼ 87.3%€2,462▲ 132%€2,202▼ 10.5%€3,702▲ 68.1%
Working capital€23,846below the sector's middle half▼ 3.6%€27,385below the sector's middle half▲ 14.8%€27,271below the sector's middle half▼ 0.4%-€237below the sector's middle half-€906below the sector's middle half▼ 283%
Solvency90.4%above the sector's middle half▲ 3.0pp98.7%above the sector's middle half▲ 8.3pp97.1%above the sector's middle half▼ 1.6pp96.1%above the sector's middle half▼ 1.0pp93.6%above the sector's middle half▼ 2.5pp
Current ratio3.85above the sector's middle half▲ 0.3526.77above the sector's middle half▲ 22.9212.08above the sector's middle half▼ 14.690.89below the sector's middle half▼ 11.190.76below the sector's middle half▼ 0.14
Return on assets (ROA)-4.1%below the sector's middle half▲ 7.2pp4.2%within the sector's middle half▲ 8.4pp-0.1%below the sector's middle half▼ 4.4pp-48.3%below the sector's middle half▼ 48.2pp-1.2%below the sector's middle half▲ 47.1pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €713 in 2025 against €27,449 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €57,796
Fixed assets
€55,000 =
Current assets
€2,796 ▲ 42.2%
Equity and liabilities €57,796
Equity
€54,094 ▼ 1.2%
Debt
€3,702 ▲ 68.1%
Debt's share of the balance-sheet total rises from 3.9% to 6.4%. Equity is lower and debt is higher.
Key figures and ratios
Key figures and ratios
Debt to equity
0.07▲
2024 · 0.04
ROE
-1.2%▲
2024 · -50.2%
Debt ≤ 1 year
€3,702▲
2024 · €2,202
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,780 | - | - | - | - | - |
| Other operating charges640/8 | €605 | €446 | €643 | €567 | - | - |
| Gross operating margin9900 | €3,237 | €4,082 | €589 | -€26,883 | -€713 | ▲ 97.3% |
| Operating profit (loss)9901 | -€1,148 | €3,636 | -€54 | -€27,449 | -€713 | ▲ 97.4% |
| Financial income75/76B | - | - | - | - | €128 | - |
| Recurring financial income75 | - | - | - | - | €128 | - |
| Financial charges65/66B | €601 | €96 | €60 | €59 | €84 | ▲ 43.9% |
| Recurring financial charges65 | €601 | €96 | €60 | €59 | €84 | ▲ 43.9% |
| Profit (loss) for the period before taxes9903 | -€1,750 | €3,539 | -€114 | -€27,508 | -€670 | ▲ 97.6% |
| Income taxes67/77 | €1,859 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€3,609 | €3,539 | -€114 | -€27,508 | -€670 | ▲ 97.6% |
| Profit (loss) for the period to be appropriated9905 | -€3,609 | €3,539 | -€114 | -€27,508 | -€670 | ▲ 97.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €87,212 | €83,448 | €84,733 | €56,966 | €57,796 | ▲ 1.5% |
| Fixed assets21/28 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | = |
| Financial fixed assets28 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | = |
| Current assets29/58 | €32,212 | €28,448 | €29,733 | €1,966 | €2,796 | ▲ 42.2% |
| Amounts receivable within one year40/41 | €30,622 | €28,404 | €28,516 | €1,892 | €2,692 | ▲ 42.3% |
| Trade receivables40 | €1,161 | - | - | - | €968 | - |
| Other amounts receivable41 | €29,461 | €28,404 | €28,516 | €1,892 | €1,724 | ▼ 8.9% |
| Cash at bank and in hand54/58 | €1,590 | €44 | €1,217 | €74 | €104 | ▲ 41.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €87,212 | €83,448 | €84,733 | €56,966 | €57,796 | ▲ 1.5% |
| Equity10/15 | €78,846 | €82,385 | €82,271 | €54,763 | €54,094 | ▼ 1.2% |
| Contributions10/11 | €171,700 | €171,700 | €171,700 | €171,700 | €171,700 | = |
| Reserves13 | €1,420 | €1,420 | €1,420 | €1,420 | €1,420 | = |
| Non-distributable reserves130/1 | €1,420 | €1,420 | €1,420 | €1,420 | €1,420 | = |
| Reserves not available under the articles1311 | €1,420 | €1,420 | €1,420 | €1,420 | €1,420 | = |
| Profit (loss) carried forward14 | -€94,274 | -€90,735 | -€90,849 | -€118,357 | -€119,027 | ▼ 0.6% |
| Amounts payable17/49 | €8,366 | €1,063 | €2,462 | €2,202 | €3,702 | ▲ 68.1% |
| Amounts payable within one year42/48 | €8,366 | €1,063 | €2,462 | €2,202 | €3,702 | ▲ 68.1% |
| Current portion of amounts payable after more than one year42 | €1,971 | - | - | - | - | - |
| Trade debts44 | €6,395 | €1,063 | €2,462 | €2,202 | €3,702 | ▲ 68.1% |
| Suppliers440/4 | €6,395 | €1,063 | €2,462 | €2,202 | €3,702 | ▲ 68.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,609 | €3,539 | -€114 | -€27,508 | -€670 | ▲ 97.6% |
| + Depreciation and write-downs630 | €3,780 | - | - | - | - | - |
| Operating cash flow (approximation) | €171 | €3,539 | -€114 | -€27,508 | -€670 | ▲ 97.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€1,547 | €1,173 | -€1,143 | €30 | ▲ 103% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
VHADEL
BE 0643.516.014
Tubize · Eq €54,133
AVCOTECH
BE 0731.637.148
Mettet · Eq €53,972
Energie Slim Wonen
BE 0830.616.344
Herk-de-Stad · Eq €54,260
EBURA
BE 0560.775.905
Beringen · Eq €53,918
NAJJAR
BE 0454.310.386
Boortmeerbeek · Eq €53,901
Of 6,140 companies in this sector we hold annual accounts for 2,574. 1,933 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
1 holding
Directors
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of CADRAT 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
No directors read yet: 0 of 3 Gazette acts processed.
Timeline
13 eventsLatest 28-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 14 days late
2024
31-12
Financial
Weakest financial yearnet -€27,508
Net result drops to -€27,508, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
31-12
Financial
Back to profitnet €3,539
Net result €3,539 after 3 loss-making years.
31-12
Financial
Liquidity times 7current ratio 26.77
Current ratio from 3.85 to 26.77; short-term debt falls from €8,366 to €1,063.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 17 days late
2020
07-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 38 days late
2019
05-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 36 days late
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 49 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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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Company details
Private limited company (pre-2019) · founded 07-05-2013Year ends 31-12Peppol not found1 site
Register details
Identification
Legal formPrivate limited company (pre-2019)
Founded07-05-2013
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
58190Other publishing activities, excluding software publishing
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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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Mouscron · 1 establishment unit since 2013
Ground area
4,545 m²
Building footprint
652 m²
Volume, LiDAR
363 m³
2 parcels, Wallonia · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CADRAT
since 2013unit no. 2.221.610.004
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54006N0215/00H002 | Wallonia | 3,411 m² | 1 · 577 m² | - |
| 54009C0049/00Y000 | Wallonia | 1,134 m² | 1 · 75 m² | 6.6 m · 2 fl. |
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.
Go further with this company
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