CADSKILLS
ActiveSummary
CADSKILLS has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€31,810) and a net result of -€459,431. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 11% of 223 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-30
Solvency22▼-44
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.47 against 1.25 in 2024; short-term debt: 74.8% and cash: 5.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Other manufacturing (NACE 32)
about 28% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-2.8%
Return on assets
-39.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€31,810
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
28 d early
2023
42 d early
2022
49 d early
2021
47 d early
2020
30 d early
2019
46 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 38 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 40% 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 20 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€31,810
2024 · €427,621
Total assets
€1.2m▲ 9.4%
2024 · €1.1m
Net result
-€459,431▼ 647%
2024 · -€61,517
Working capital
-€453,449
2024 · €111,942
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 32, Other manufacturing, 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
Operating result€23,598▼ 15.2%€11,381▼ 51.8%€111,147▲ 877%-€49,420-€424,991▼ 760%
Net result€11,381within the sector's middle half▼ 42.2%€5,121below the sector's middle half▼ 55.0%€104,834within the sector's middle half▲ 1,947%-€61,517below the sector's middle half-€459,431below the sector's middle half▼ 647%
Equity€99,183below the sector's middle half▲ 13.0%€104,304below the sector's middle half▲ 5.2%€209,138within the sector's middle half▲ 101%€427,621within the sector's middle half▲ 104%-€31,810below the sector's middle half
Total assets€634,610within the sector's middle half▼ 19.2%€581,071within the sector's middle half▼ 8.4%€817,739within the sector's middle half▲ 40.7%€1.1mwithin the sector's middle half▲ 29.0%€1.2mwithin the sector's middle half▲ 9.4%
Debt€535,427▼ 23.2%€476,767▼ 11.0%€608,601▲ 27.7%€626,927▲ 3.0%€1.2m▲ 89.1%
Working capital€7,121below the sector's middle half▼ 94.5%-€45,216below the sector's middle half€358,846within the sector's middle half€111,942within the sector's middle half▼ 68.8%-€453,449below the sector's middle half
Solvency15.6%below the sector's middle half▲ 4.4pp18.0%below the sector's middle half▲ 2.3pp25.6%within the sector's middle half▲ 7.6pp40.6%within the sector's middle half▲ 15.0pp-2.8%below the sector's middle half▼ 43.3pp
Current ratio1.02below the sector's middle half▼ 0.340.90below the sector's middle half▼ 0.122.27within the sector's middle half▲ 1.371.25within the sector's middle half▼ 1.020.47below the sector's middle half▼ 0.77
Return on assets (ROA)1.8%within the sector's middle half▼ 0.7pp0.9%within the sector's middle half▼ 0.9pp12.8%above the sector's middle half▲ 11.9pp-5.8%below the sector's middle half▼ 18.7pp-39.8%below the sector's middle half▼ 34.0pp
Staff (FTE)5.5within the sector's middle half▲ 27.9%6within the sector's middle half▲ 9.1%5.3within the sector's middle half▼ 11.7%7.2within the sector's middle half▲ 35.8%7.1within the sector's middle half▼ 1.4%
above
within
below
the middle half (P25 to P75) of NACE 32, Other manufacturing, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €424,991 in 2025 against €49,420 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€740,086 ▲ 52.4%
Current assets
€409,888 ▼ 27.2%
Key figures and ratios
EBITDA
-€279,085▼
2024 · €32,507
Cash flow
-€313,525▼
2024 · €20,410
Quick ratio
0.34▼
2024 · 0.99
Debt to equity
-37.28▼
2024 · 1.47
Interest coverage
-8.19▼
2024 · 2.17
Debt ≤ 1 year
€863,337▲
2024 · €450,939
Debt > 1 year
€316,826▲
2024 · €170,761
Income taxes
€529▲
2024 · -€645
Staff costs
€473,707▼
2024 · €476,555
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 6,639 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €11,957 | €0 | €3,670 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €266,497 | €349,463 | €361,728 | €476,555 | €473,707 | ▼ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €116,552 | €114,330 | €69,742 | €81,927 | €145,906 | ▲ 78.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €20,070 | - |
| Other operating charges640/8 | €3,566 | €10,470 | €8,012 | €2,094 | €1,951 | ▼ 6.8% |
| Non-recurring operating charges66A | - | €5,107 | €6,890 | €87,119 | €0 | ▼ 100% |
| Gross operating margin9900 | €410,212 | €490,750 | €557,519 | €598,274 | €216,643 | ▼ 63.8% |
| Operating profit (loss)9901 | €23,598 | €11,381 | €111,147 | -€49,420 | -€424,991 | ▼ 760% |
| Financial income75/76B | €43 | €327 | €74 | €2,269 | €155 | ▼ 93.2% |
| Recurring financial income75 | €43 | €327 | €74 | €2,269 | €155 | ▼ 93.2% |
| Financial charges65/66B | €11,429 | €6,148 | €5,452 | €15,011 | €34,066 | ▲ 127% |
| Recurring financial charges65 | €11,429 | €6,148 | €5,452 | €15,011 | €34,066 | ▲ 127% |
| Profit (loss) for the period before taxes9903 | €12,212 | €5,561 | €105,768 | -€62,162 | -€458,902 | ▼ 638% |
| Income taxes67/77 | €831 | €439 | €935 | -€645 | €529 | ▲ 182% |
| Profit (loss) for the period9904 | €11,381 | €5,121 | €104,834 | -€61,517 | -€459,431 | ▼ 647% |
| Profit (loss) for the period to be appropriated9905 | €11,381 | €5,121 | €104,834 | -€61,517 | -€459,431 | ▼ 647% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €634,610 | €581,071 | €817,739 | €1.1m | €1.2m | ▲ 9.4% |
| Formation expenses20 | €7,473 | €5,001 | €2,529 | €6,179 | €3,941 | ▼ 36.2% |
| Fixed assets21/28 | €237,785 | €168,972 | €172,973 | €485,489 | €740,086 | ▲ 52.4% |
| Intangible fixed assets21 | €120,369 | €89,086 | €92,467 | €235,115 | €510,911 | ▲ 117% |
| Tangible fixed assets22/27 | €115,116 | €77,583 | €78,194 | €248,059 | €226,845 | ▼ 8.6% |
| Plant, machinery and equipment23 | €24,057 | €8,074 | €21,559 | €32,347 | €38,417 | ▲ 18.8% |
| Furniture and vehicles24 | €33,074 | €26,001 | €27,006 | €27,379 | €29,407 | ▲ 7.4% |
| Other tangible fixed assets26 | €57,986 | €43,508 | €29,628 | €188,333 | €159,021 | ▼ 15.6% |
| Financial fixed assets28 | €2,300 | €2,302 | €2,312 | €2,314 | €2,329 | ▲ 0.6% |
| Current assets29/58 | €389,351 | €407,098 | €642,237 | €562,881 | €409,888 | ▼ 27.2% |
| Stocks and contracts in progress3 | €57,634 | €46,583 | €52,847 | €116,038 | €120,104 | ▲ 3.5% |
| Stocks30/36 | €57,634 | €46,583 | €52,847 | €52,485 | €47,750 | ▼ 9.0% |
| Contracts in progress37 | - | - | - | €63,553 | €72,353 | ▲ 13.8% |
| Amounts receivable within one year40/41 | €123,369 | €318,459 | €372,345 | €304,017 | €197,378 | ▼ 35.1% |
| Trade receivables40 | €116,421 | €311,291 | €306,942 | €277,387 | €169,417 | ▼ 38.9% |
| Other amounts receivable41 | €6,949 | €7,168 | €65,403 | €26,629 | €27,962 | ▲ 5.0% |
| Cash at bank and in hand54/58 | €192,772 | €28,023 | €201,411 | €115,710 | €66,043 | ▼ 42.9% |
| Deferred charges and accrued income490/1 | €15,576 | €14,032 | €15,634 | €27,116 | €26,363 | ▼ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €634,610 | €581,071 | €817,739 | €1.1m | €1.2m | ▲ 9.4% |
| Equity10/15 | €99,183 | €104,304 | €209,138 | €427,621 | -€31,810 | ▼ 107% |
| Contributions10/11 | €133,229 | €133,229 | €133,229 | €413,229 | €413,229 | = |
| Reserves13 | - | - | €75,909 | €14,393 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | €75,909 | €14,393 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€34,046 | -€28,925 | €0 | - | -€445,039 | - |
| Amounts payable17/49 | €535,427 | €476,767 | €608,601 | €626,927 | €1.2m | ▲ 89.1% |
| Amounts payable after more than one year17 | €151,897 | €21,893 | €325,210 | €170,761 | €316,826 | ▲ 85.5% |
| Financial debts170/4 | €151,897 | €21,893 | €45,210 | €170,761 | €316,826 | ▲ 85.5% |
| Other amounts payable178/9 | - | - | €280,000 | €0 | - | - |
| Amounts payable within one year42/48 | €382,230 | €452,313 | €283,391 | €450,939 | €863,337 | ▲ 91.5% |
| Current portion of amounts payable after more than one year42 | €222,322 | €135,826 | €26,013 | €19,095 | €70,091 | ▲ 267% |
| Financial debts43 | - | - | - | €24,854 | €381,488 | ▲ 1,435% |
| Credit institutions430/8 | - | - | - | €24,854 | €381,488 | ▲ 1,435% |
| Trade debts44 | €68,881 | €80,216 | €205,724 | €282,357 | €110,302 | ▼ 60.9% |
| Suppliers440/4 | €68,881 | €80,216 | €205,724 | €282,357 | €110,302 | ▼ 60.9% |
| Taxes, remuneration and social security45 | €47,827 | €53,262 | €39,337 | €69,091 | €75,096 | ▲ 8.7% |
| Taxes450/3 | €9,911 | €12,999 | €9,557 | €12,376 | €19,451 | ▲ 57.2% |
| Remuneration and social security454/9 | €37,916 | €40,263 | €29,780 | €56,714 | €55,645 | ▼ 1.9% |
| Other amounts payable47/48 | €43,200 | €183,011 | €12,317 | €55,542 | €226,360 | ▲ 308% |
| Accrued charges and deferred income492/3 | €1,300 | €2,561 | €0 | €5,228 | €5,562 | ▲ 6.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,381 | €5,121 | €104,834 | -€61,517 | -€459,431 | ▼ 647% |
| + Depreciation and write-downs630 | €116,552 | €114,330 | €69,742 | €81,927 | €145,906 | ▲ 78.1% |
| Operating cash flow (approximation) | €127,932 | €119,451 | €174,576 | €20,410 | -€313,525 | ▼ 1,636% |
| Investment in fixed assets (approximation) | - | -€45,516 | -€73,744 | -€394,443 | -€400,503 | ▼ 1.5% |
| Change in cash | - | -€164,749 | €173,388 | -€85,701 | -€49,667 | ▲ 42.0% |
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
18-08
State Gazette act
Resignations & appointmentsPower of attorney3 facts ▸
State Gazette act
Resignations & appointments
Power of attorney3 facts ▸
- Board meeting, 17-07-2026
- Power of attorney, Mario Bundo
- Power of attorney, Steffie Gysels
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€459,431
Net result drops to -€459,431, the lowest in the series.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €104,834 ▲1,947%
Operating result €111,147, net result €104,834, both a record.
31-12
Financial
Liquidity triplescurrent ratio 2.27
Current ratio from 0.90 to 2.27; short-term debt falls from €452,313 to €283,391.
31-12
Financial
Equity above €200,000Eq €209,138 ▲101%
4 profitable years in a row build equity to €209,138.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €100,000Eq €104,304 ▲5.2%
3 profitable years in a row build equity to €104,304.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
31-12
Financial
Back to profitnet €19,687
Net result €19,687 after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.36
Current ratio from 0.46 to 1.36; short-term debt falls from €486,067 to €354,694.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
06-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
13 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 1996
Ground area
1.1 ha
Building footprint
4,377 m²
Parcel 44062A0080/00G000, Flanders. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
ORTHOFACE R&D
since 19962.077.411.188
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062A0080/00G000 | Flanders | 1.1 ha | 1 · 4,377 m² | - |
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.
Articles of association
Other statement
In het algemeen mogen de bijzondere lasthebbers, elk afzonderlijk optredend, al het nodige of nuttige doen in verband met de implementatie en uitvoering van de…
Structure & network
Owners and holdings
1 ownerChain of control
- ORTHOFACE
- CADSKILLS
Highest known parent: ORTHOFACE. The sources do not say who stands above it.
Owners 1
- ORTHOFACEparentSourceaccounts ORTHOFACE 202451.66%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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 current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 11 entries · 86,260 EUR awarded · 52,629 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 5 | 56,119 EUR | 31,106 EUR |
| 2024 | 1 | 1,798 EUR | 680 EUR |
| 2023 | 2 | 17,500 EUR | 10,000 EUR |
| 2022 | 3 | 10,843 EUR | 10,843 EUR |
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Of 1,248 companies in sector 32500 we hold annual accounts for 694. 510 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-07-1996
Fiscal year end31-12
Activities, NACEBEL 2025
32500Manufacture of medical and dental instruments and supplies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0458423582
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.