CAFIMO is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €13.0m and a net result of €515,202, of which €471,739 non-recurring income. Equity has been stable since 2019 (±0.9% per year). Its solvency ranks better than 67% of 3,032 sector peers (NACE 64, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 19 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
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neutral · Next filing not due yet
The financial year that closed on 31-08-2026 is due by 31-03-2027. Nothing is late today. The company usually files around 25 March (4 of the last 5 accounts filed within 30 days either side of that date).
Equity is what the company owns minus what it owes. It consists of the contributions and the reserves and profits built up. Negative equity means debts exceed assets.
The net result is what is left after all costs and taxes. One loss year is not an alarm on its own. After several loss years in a row, it pays to find out why.
Solvency is equity divided by total assets. It shows what share of its assets the company finances with its own means. The higher it is, the better the company absorbs a setback.
Net result€8.1m--€1.4mbelow the sector's middle half€2.9mabove the sector's middle half€4.2mabove the sector's middle half▲ 44.1%€3.9mabove the sector's middle half▼ 4.9%€0.6mwithin the sector's middle half▼ 84.3%€0.5mwithin the sector's middle half▼ 17.0%
Equity€14.5m-€12.0mwithin the sector's middle half▼ 17.8%€14.8mwithin the sector's middle half▲ 24.1%€12.7mwithin the sector's middle half▼ 14.7%€12.3mwithin the sector's middle half▼ 2.7%€12.9mwithin the sector's middle half▲ 4.8%€13.0mwithin the sector's middle half▲ 0.9%
Total assets€17.8m-€14.2mwithin the sector's middle half▼ 20.5%€15.6mwithin the sector's middle half▲ 9.7%€13.0mwithin the sector's middle half▼ 16.7%€16.1mwithin the sector's middle half▲ 24.3%€17.3mwithin the sector's middle half▲ 7.4%€16.6mwithin the sector's middle half▼ 4.4%
Working capital€2.1m-€1.0mwithin the sector's middle half▼ 52.6%€3.2mabove the sector's middle half▲ 225%€1.0mwithin the sector's middle half▼ 68.4%€0.4mwithin the sector's middle half▼ 59.7%-€0.03mwithin the sector's middle half-€0.07mwithin the sector's middle half▼ 160%
Solvency81.5%-84.3%within the sector's middle half▲ 2.8pp95.3%above the sector's middle half▲ 11.0pp97.7%above the sector's middle half▲ 2.4pp76.5%within the sector's middle half▼ 21.2pp74.6%within the sector's middle half▼ 1.8pp78.7%within the sector's middle half▲ 4.1pp
Current ratio5.28-1.80within the sector's middle half▼ 3.4820.28above the sector's middle half▲ 18.488.72above the sector's middle half▼ 11.571.97within the sector's middle half▼ 6.750.96within the sector's middle half▼ 1.010.84within the sector's middle half▼ 0.12
Return on assets (ROA)45.3%--9.7%below the sector's middle half▼ 55.0pp18.5%above the sector's middle half▲ 28.2pp32.0%above the sector's middle half▲ 13.5pp24.5%above the sector's middle half▼ 7.5pp3.6%within the sector's middle half▼ 20.9pp3.1%within the sector's middle half▼ 0.5pp
Staff (FTE)5.5-0below the sector's middle half
abovewithinbelowThe sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €164,728, smaller than the loss of €195,592 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.6m
97.9%
Fixed assets€16.2m ▼ 3.2%
Current assets€351,468 ▼ 37.8%
Equity and liabilities €16.6m
78.7%
21.3%
Equity€13.0m ▲ 0.9%
Debt€3.5m ▼ 19.9%
Debt's share of the balance-sheet total falls from 25.4% to 21.3%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
4.0%▼
2024 · 4.8%
Debt ≤ 1 year
€418,479▼
2024 · €591,195
Debt > 1 year
€3.1m▼
2024 · €3.8m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
on own assets and for others
Item
31-08-2020
31-08-2022
31-08-2023
31-08-2024
31-08-2025
Debts secured on the company's own assets
-
-
€2.6m
€2.3m
€2.0m
Pledge on other assets, amount secured
-
-
€2.6m
€2.3m
€2.0m
Carrying value of the other pledged assets
-
-
€3.2m
€3.2m
€3.5m
Source: notes to the 2020 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired
Item
31-08-2020
31-08-2022
31-08-2023
31-08-2024
31-08-2025
Intangible fixed assets
-
€589,952
€577,622
€212,954
-
Financial fixed assets
-
€43,734
€3.2m
€1.5m
€455,637
Depreciation and write-downs of the year
€713
€71,355
€188,063
€247,935
€23,211
Source: notes to the 2020 to 2025 annual accounts (statement of fixed assets)
Auditor
fees
The auditor is Gilles Daniëls.
Item
31-08-2020
31-08-2022
31-08-2023
31-08-2024
31-08-2025
Fee for the audit
€4,300
€7,171
€8,027
€8,207
€11,977
Other work by the auditor
-
€3,050
-
-
-
Source: notes to the 2020 to 2025 annual accounts (relations with the auditor)
Group figures
consolidated accounts
CAFIMO heads a group. The consolidated accounts add up the company and its subsidiaries.
Item
31-08-2021
31-08-2022
31-08-2023
31-08-2024
31-08-2025
Turnover
€124.1m
€164.4m
€151.3m
€114.7m
€131.5m
Operating result
€1.0m
€6.1m
-€1.2m
€942,000
€1.7m
Result for the year
€2.6m
€7.8m
-€3.1m
€724,000
€1.1m
Equity
€15.0m
€16.5m
€9.0m
€9.6m
€10.6m
Total assets
€21.1m
€44.4m
€29.6m
€21.9m
€23.8m
Source: 2021 to 2025 consolidated accounts
Subsidies and aid
Flemish government
Flemish government
The Flemish government granted these subsidies and aid to the company. Such aid usually goes with a project, with conditions the company must meet.
2 entries · €195,000 · €195,000 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 70 lines
Balance sheetCode20242025
Assets
Total assets20/58€17.3m€16.6m▼
Fixed assets21/28€16.7m€16.2m▼
Intangible fixed assets21€1.0m€0.01m▼
Tangible fixed assets22/27€0.03m€0▼
Plant, machinery and equipment23€0.03m€0▼
Financial fixed assets28€15.7m€16.2m▲
Affiliated companies280/1€15.7m€16.2m▲
Participating interests280€15.7m€16.2m▲
Current assets29/58€0.6m€0.4m▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€0.05m€0.3m▲
Trade receivables40€484€0.04m▲
Other amounts receivable41€0.05m€0.3m▲
Current investments50/53€0-
Other investments51/53€0-
Cash at bank and in hand54/58€0.5m€0.05m▼
Deferred charges and accrued income490/1€0.001m€0.003m▲
Equity and liabilities
Total equity and liabilities10/49€17.3m€16.6m▼
Equity10/15€12.9m€13.0m▲
Contributions10/11€0.1m€0.1m=
Capital10€0.1m€0.1m=
Issued capital100€0.1m€0.1m=
Reserves13€12.7m€12.9m▲
Non-distributable reserves130/1€0.01m€0.01m=
Legal reserve130€0.01m€0.01m=
Distributable reserves133€12.7m€12.9m▲
Investment grants15€0.1m€0▼
Amounts payable17/49€4.4m€3.5m▼
Amounts payable after more than one year17€3.8m€3.1m▼
Financial debts170/4€3.8m€3.1m▼
Subordinated loans170€1.5m€1.4m▼
Credit institutions173€2.3m€1.7m▼
Other amounts payable178/9€0-
Amounts payable within one year42/48€0.6m€0.4m▼
Current portion of amounts payable after more than one year42€0.4m€0.3m▼
Trade debts44€0.2m€0.1m▼
Suppliers440/4€0.2m€0.1m▼
Taxes, remuneration and social security45-€377
Taxes450/3-€377
Accrued charges and deferred income492/3€0-
Income statementCode20242025
Operating income70/76A€0.4m€0.2m▼
Turnover70€0.4m€0.02m▼
Other operating income74€0.05m€0.2m▲
Operating charges60/66A€0.6m€0.4m▼
Services and other goods61€0.4m€0.3m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.02m▼
Other operating charges640/8€0.001m€0.001m▼
Operating profit (loss)9901-€0.2m-€0.2m▲
Financial income75/76B€0.8m€0.8m▲
Recurring financial income75€0.03m€0.4m▲
Income from financial fixed assets750€0€0.4m▲
Income from current assets751€0€0.007m▲
Other financial income752/9€0.03m€0.002m▼
Non-recurring financial income76B€0.8m€0.5m▼
Financial charges65/66B€0.009m€0.2m▲
Recurring financial charges65-€0.07m€0.2m▲
Debt charges650€0.2m€0.1m▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€0.3m€0.001m▲
Other financial charges652/9€0.008m€0.002m▼
Non-recurring financial charges66B€0.08m€119▼
Profit (loss) for the period before taxes9903€0.6m€0.5m▼
Profit (loss) for the period9904€0.6m€0.5m▼
Profit (loss) for the period to be appropriated9905€0.6m€0.5m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.6m€0.5m▼
Transfer from equity791/2€0€0.3m▲
From reserves792€0€0.3m▲
Transfer to equity691/2€0.6m€0.5m▼
To other reserves6921€0.6m€0.5m▼
Profit to be distributed694/7€0€0.3m▲
Return on contributions (dividend)694€0€0.3m▲
The notes to these accounts have 64 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Director · appointed in the act of 17-09-2025 · 6-year term from 2025 · Private limited company · permanent representative: Kathelijne Mathues · also on the board of 2 other companies
Director · since 18-08-2025 · 6-year term from 2025 · Private limited company · permanent representative: Luc DE VOS · also on the board of 2 other companies · listed in the 2025 annual accounts, filed on 31-03-2026
Current
Permanent representatives 2
KM
Kathelijne Mathues
Permanent representative · appointed in the act of 17-09-2025 · for MIKA CONSULTING
Current
LD
Luc DE VOS
Permanent representative · appointed in the act of 17-09-2025 · for LUC DE VOS BV
Each bar is one period in a function, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
Gazette deed2 directors appointed, 1 director resigning
Resignation: Kathelijne Mathues (director) · Appointments: MIKA CONSULTING (director) and LUC DE VOS BV (director) · Permanent representatives: Kathelijne Mathues, Luc DE VOS and Joeri VANHUMBEECK9 points ▸
Director resignation, Kathelijne Mathues (director)
Gazette deedCapital & shares · Amendment of the articles
Capital · Registered office clause · Power of attorney10 points ▸
Capital, €100,000
Registered office clause, “Tienen, Grijpenlaan 19” (deed in Dutch)
Power of attorney
General meeting, 25-03-2022, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
Amendment of the articles, mentioned 2 times in the deed
Other provision, “TWEEDE BESLUIT verslagen artikel 7:155 WVV bij creatie nieuwe soorten aandelen, artikel 7:155 Wetboek van vennootschappen en verenigingen” (deed in Dutch)
Auditor report, “financiële en boekhoudkundige gegevens getrouw en voldoende om algemene vergadering voor te lichten”, 24-03-2022 (deed in Dutch)
Kind of shares, “DERDE BESLUIT”, 5000 (deed in Dutch)
Resignations: Joeri Vanhumbeeck, Steven Lismont and Motus Consultancy BVBA · Appointments: JVMS bvba (director) and Germanus bvba (managing director) · Permanent representatives: Joeri Vanhumbeeck, Steven Lismont and Hugo Levecke12 points ▸
Board meeting, 19-12-2018
Director resignation, Joeri Vanhumbeeck (director)
Director resignation, Steven Lismont (director)
Director appointment, JVMS bvba (director)
Permanent representative, Joeri Vanhumbeeck
Director appointment, Germanus bvba (managing director)
Permanent representative, Steven Lismont
Director resignation, Motus Consultancy BVBA (director)
Mandate, “Toekenning van de bevoegdheden aan de raad van bestuur meer bepaald om alle nodige maatregelen te treffen voor de terugbetaling waartoe de vergadering zal beslu…” (deed in Dutch)
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
On 3 May 2013, CAFIMO was incorporated, with a starting capital of €9.3m.12Today the board has 2 members.3Total assets went from €17.8m in 2019 to €16.6m in 2025.4
Establishment unitGrijpenlaan 19, 3300 Tienen since 03-05-2013 · unit number 2.220.031.179
Activities
NACEBEL 2025
64210Activities of holding companiesmain activity
82990Other business support servicesmain activity
70200Business and other management consultancy
Codes under NACEBEL 2008
64200Holdingsmain activity
82990Other business support servicesmain activity
70220Business consulting
PurposeThe purpose describes the activities the company may carry out under its articles.
“Handel in auto's welke onder meer omvat: groot- en kleinhandel, in- en uitvoer van nieuwe en gebruikte autovoertuigen en ander rollend…”
12 activities
Handel in auto's welke onder meer omvat: groot- en kleinhandel, in- en uitvoer van nieuwe en gebruikte autovoertuigen en ander rollend materiaal;
Verhuur van auto's welke onder meer omvat: de verhuur op korte termijn van personenwagens zonder chauffeur, de verhuur of operationele leasing van personenwagens of lichte bestelwagens zonder chauffeur;
Verhuur van overige transportmiddelen;
Onderhoud en reparatie van auto's, het inrichten en uitbaten van carrosseriewerkplaatsen, herstelwerkplaatsen voor alle voertuigen en rollend materieel;
Handel in onderdelen en accessoires van auto's, aan- en verkoop van alle onderdelen, brandstoffen, oliën, en smeerstoffen bestemd voor autovoertuigen en ander rollend materieel;
Handelsbemiddeling;
Goederenvervoer over de weg en verhuisdiensten;
Financiële leasing, kredietverstrekking;
Verzekeringswezen; verzekeringen, leningen en leasingen van alle aard afsluiten, als tussenpersoon optreden in alle financieringen voor zover niet aan een bijzondere reglementering onderworpen;
Adviesbureau op het gebied van bedrijfsvoering en beheer;
Managementsactivitelten van holding;
Verhuur en handel in onroerende goederen, onderneming in onroerende goederen in de meest ruime zin.