CAR TUNING DEVELOPMENT
ActiveSummary
CAR TUNING DEVELOPMENT has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €277,234 and a net result of €151,760. Equity is growing by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 62% of 913 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency71▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity ample (current ratio 1.69 against 1.77 in 2024; short-term debt: 51.8% and cash: 33.6% of total assets), but 54.1% 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 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% 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 2025Solvency, return and age of the figures
Solvency
45.9%
Return on assets
25.1%
Age of the figures
12 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-05-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
on the day
2023
on the day
2022
on the day
2021
31 d late
2020
1 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 7 accounts on average 9 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 1 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€277,234▲ 2.5%
2024 · €270,473
Total assets
€604,163▲ 11.2%
2024 · €543,476
Net result
€151,760▲ 3.0%
2024 · €147,370
Working capital
€215,303▲ 5.8%
2024 · €203,557
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation 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
Line20212022202320242025
Operating result€55,638€122,979▲ 121%€113,053▼ 8.1%€155,260▲ 37.3%€152,057▼ 2.1%
Net result€54,030within the sector's middle half▲ 9,483%€91,903above the sector's middle half▲ 70.1%€113,330above the sector's middle half▲ 23.3%€147,370above the sector's middle half▲ 30.0%€151,760above the sector's middle half▲ 3.0%
Equity€139,871within the sector's middle half▲ 20.7%€231,774within the sector's middle half▲ 65.7%€240,104within the sector's middle half▲ 3.6%€270,473within the sector's middle half▲ 12.6%€277,234within the sector's middle half▲ 2.5%
Total assets€204,208below the sector's middle half▲ 60.2%€280,308below the sector's middle half▲ 37.3%€369,868within the sector's middle half▲ 32.0%€543,476within the sector's middle half▲ 46.9%€604,163within the sector's middle half▲ 11.2%
Debt€64,338▲ 452%€48,534▼ 24.6%€129,764▲ 167%€269,178▲ 107%€323,831▲ 20.3%
Working capital€135,099within the sector's middle half▲ 30.8%€223,345within the sector's middle half▲ 65.3%€227,432within the sector's middle half▲ 1.8%€203,557within the sector's middle half▼ 10.5%€215,303above the sector's middle half▲ 5.8%
Solvency68.5%above the sector's middle half▼ 22.4pp82.7%above the sector's middle half▲ 14.2pp64.9%above the sector's middle half▼ 17.8pp49.8%within the sector's middle half▼ 15.1pp45.9%within the sector's middle half▼ 3.9pp
Current ratio3.18above the sector's middle half▼ 8.775.86above the sector's middle half▲ 2.682.79above the sector's middle half▼ 3.071.77within the sector's middle half▼ 1.021.69within the sector's middle half▼ 0.08
Return on assets (ROA)26.5%above the sector's middle half▲ 26.0pp32.8%above the sector's middle half▲ 6.3pp30.6%above the sector's middle half▼ 2.1pp27.1%above the sector's middle half▼ 3.5pp25.1%above the sector's middle half▼ 2.0pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, 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 falls in 2025; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €604,163
Fixed assets
€75,642 ▼ 0.7%
Current assets
€528,520 ▲ 13.1%
Equity and liabilities €604,163
Equity
€277,234 ▲ 2.5%
Provisions
€3,098 ▼ 19.0%
Debt
€323,831 ▲ 20.3%
Debt's share of the balance-sheet total rises from 49.5% to 53.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€173,208▲
2024 · €172,668
Cash flow
€172,911▲
2024 · €164,778
Quick ratio
1.68▼
2024 · 1.76
Debt to equity
1.17▲
2024 · 1.00
ROE
54.7%▲
2024 · 54.5%
Interest coverage
2411.03▲
2024 · 160.45
Debt ≤ 1 year
€313,217▲
2024 · €263,717
Income taxes
€3,289▼
2024 · €6,929
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 20,134 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 | - | - | - | €18,200 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,148 | €3,876 | €5,297 | €17,408 | €21,151 | ▲ 21.5% |
| Other operating charges640/8 | €459 | €219 | €1,250 | €406 | €567 | ▲ 39.9% |
| Gross operating margin9900 | €65,244 | €127,074 | €119,601 | €173,074 | €173,776 | ▲ 0.4% |
| Operating profit (loss)9901 | €55,638 | €122,979 | €113,053 | €155,260 | €152,057 | ▼ 2.1% |
| Financial income75/76B | €2,557 | €2,701 | €2,715 | €3,939 | €2,338 | ▼ 40.7% |
| Recurring financial income75 | €2,557 | €2,701 | €2,715 | €3,939 | €2,338 | ▼ 40.7% |
| Financial charges65/66B | €66 | €164 | €77 | €1,076 | €72 | ▼ 93.3% |
| Recurring financial charges65 | €66 | €164 | €77 | €1,076 | €72 | ▼ 93.3% |
| Profit (loss) for the period before taxes9903 | €58,130 | €125,517 | €115,691 | €158,123 | €154,323 | ▼ 2.4% |
| Transfer from deferred taxes780 | - | - | - | €726 | €726 | = |
| Transfer to deferred taxes680 | - | - | - | €4,550 | €0 | ▼ 100% |
| Income taxes67/77 | €4,100 | €33,614 | €2,361 | €6,929 | €3,289 | ▼ 52.5% |
| Profit (loss) for the period9904 | €54,030 | €91,903 | €113,330 | €147,370 | €151,760 | ▲ 3.0% |
| Transfer from tax-exempt reserves789 | - | - | - | €2,178 | €2,178 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €13,650 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €54,030 | €91,903 | €113,330 | €135,898 | €153,938 | ▲ 13.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €204,208 | €280,308 | €369,868 | €543,476 | €604,163 | ▲ 11.2% |
| Fixed assets21/28 | €7,105 | €11,001 | €15,274 | €76,201 | €75,642 | ▼ 0.7% |
| Intangible fixed assets21 | - | - | - | €4,534 | €3,479 | ▼ 23.3% |
| Tangible fixed assets22/27 | €7,105 | €11,001 | €15,274 | €71,667 | €72,164 | ▲ 0.7% |
| Plant, machinery and equipment23 | €6,018 | €10,255 | €7,214 | €4,304 | €13,872 | ▲ 222% |
| Furniture and vehicles24 | €1,087 | €745 | €4,537 | €64,722 | €55,170 | ▼ 14.8% |
| Other tangible fixed assets26 | - | - | €3,523 | €2,642 | €3,121 | ▲ 18.1% |
| Current assets29/58 | €197,103 | €269,307 | €354,594 | €467,274 | €528,520 | ▲ 13.1% |
| Stocks and contracts in progress3 | €3,277 | €3,277 | €3,000 | €3,000 | €3,000 | = |
| Stocks30/36 | €3,277 | €3,277 | €3,000 | €3,000 | €3,000 | = |
| Amounts receivable within one year40/41 | €104,347 | €94,334 | €95,997 | €75,413 | €70,671 | ▼ 6.3% |
| Trade receivables40 | €40,367 | €26,436 | €26,799 | €43,126 | €27,980 | ▼ 35.1% |
| Other amounts receivable41 | €63,980 | €67,899 | €69,198 | €32,287 | €42,691 | ▲ 32.2% |
| Current investments50/53 | - | - | - | €250,000 | €250,000 | = |
| Cash at bank and in hand54/58 | €83,402 | €167,853 | €251,628 | €134,145 | €202,935 | ▲ 51.3% |
| Deferred charges and accrued income490/1 | €6,078 | €3,843 | €3,970 | €4,716 | €1,914 | ▼ 59.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €204,208 | €280,308 | €369,868 | €543,476 | €604,163 | ▲ 11.2% |
| Equity10/15 | €139,871 | €231,774 | €240,104 | €270,473 | €277,234 | ▲ 2.5% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €43,447 | €43,447 | €43,447 | €54,919 | €52,741 | ▼ 4.0% |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Tax-exempt reserves132 | €7,250 | €7,250 | €7,250 | €18,722 | €16,544 | ▼ 11.6% |
| Distributable reserves133 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Profit (loss) carried forward14 | €34,450 | €126,353 | €134,683 | €153,581 | €162,519 | ▲ 5.8% |
| Provisions and deferred taxes16 | - | - | - | €3,824 | €3,098 | ▼ 19.0% |
| Deferred taxes168 | - | - | - | €3,824 | €3,098 | ▼ 19.0% |
| Amounts payable17/49 | €64,338 | €48,534 | €129,764 | €269,178 | €323,831 | ▲ 20.3% |
| Amounts payable within one year42/48 | €62,004 | €45,962 | €127,162 | €263,717 | €313,217 | ▲ 18.8% |
| Trade debts44 | €22,657 | €11,887 | €15,793 | €146,516 | €165,012 | ▲ 12.6% |
| Suppliers440/4 | €22,657 | €11,887 | €15,793 | €146,516 | €165,012 | ▲ 12.6% |
| Taxes, remuneration and social security45 | €8,603 | €33,600 | €5,936 | €21 | €2,310 | ▲ 10,997% |
| Taxes450/3 | €8,603 | €33,600 | €5,936 | €21 | €2,310 | ▲ 10,997% |
| Other amounts payable47/48 | €30,745 | €475 | €105,432 | €117,180 | €145,895 | ▲ 24.5% |
| Accrued charges and deferred income492/3 | €2,333 | €2,572 | €2,603 | €5,461 | €10,614 | ▲ 94.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,030 | €91,903 | €113,330 | €147,370 | €151,760 | ▲ 3.0% |
| + Depreciation and write-downs630 | €9,148 | €3,876 | €5,297 | €17,408 | €21,151 | ▲ 21.5% |
| Operating cash flow (approximation) | €63,177 | €95,779 | €118,627 | €164,778 | €172,911 | ▲ 4.9% |
| Investment in fixed assets (approximation) | - | -€7,771 | -€9,571 | -€78,336 | -€20,592 | ▲ 73.7% |
| Change in cash | - | €84,451 | €83,775 | -€117,483 | €68,790 | ▲ 159% |
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
31-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
30-09
Financial
Highest result since 2018net €151,760 ▲3%
Net result €151,760, the highest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €200,000Eq €231,774 ▲65.7%
3 profitable years in a row build equity to €231,774.
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Back to profitnet €564
Net result €564 after one loss-making year.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet -€10,642
Net result drops to -€10,642, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Deerlijk · 1 establishment unit since 1998
Ground area
696 m²
Building footprint
127 m²
Volume, LiDAR
680 m³
Parcel 34392D0246/00C003, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
C T D NV
since 19982.086.757.832
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34392D0246/00C003 | Flanders | 696 m² | 1 · 127 m² | 8.3 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
1 ownerChain of control
- GUIDO CAEL
- CAR TUNING DEVELOPMENT
Highest known parent: GUIDO CAEL. The sources do not say who stands above it.
Owners 1
- GUIDO CAELparentSourceaccounts GUIDO CAEL 202580%
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.
Recognitions · licences · registrations
Legal Entity Identifier
9845006BB4BD078CFF10
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Of 3,880 companies in sector 93199 we hold annual accounts for 607. 379 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
Founded31-03-1998
Fiscal year end30-09
Abbreviation NL
CTD
Activities, NACEBEL 2025
93199Other sports activities
26110Manufacture of computer, electronic and optical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463010494
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.