CASMATH SRL
ActiveSummary
The computed 12-month bankruptcy probability of CASMATH SRL is 2.6% (moderate). The 2025 annual accounts show equity of €15,953 and a net result of -€904. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 58% of 18973 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
What they do
Retail trade
NACE 47260NACE 47620Retail sale of newspapers and periodicals NACE 47621
How big
€36,856total assets 2025
- Equity
- €15,953
- Loss
- -€904
Turnover not published (abridged schema)
Who decides
Accounts 23 d early0 of 2 deeds read
Why 60- Limited track record- Higher-failure-rate sector- Annual accounts: weaker financial profile- Higher-failure-rate regionLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability51▼-29
Solvency68▲+11
Growth52=
Track record94
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.28 against 1.32 in 2024; short-term debt: 44.3% and cash: 37% of total assets), and 56.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
43.3%
Return on assets
-2.5%
Age of the figures
9 mo
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 08-07-2026, 23 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
23 d early
2024
3 d early
2023
69 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 14 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 July (3 of the last 3 filed years within 73 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 · micro…
- Weakest financial yearnet -€904
- Annual accounts filedfiscal year 2024 · micro…
Financials
Fiscal year 2025Total assets €36,856Loss -€904Solvency 43.3%Liquidity 1.28
Total assets
€36,856▼ 29.7%
2023 - 2025
Net result
-€904
2023 - 2025
Equity
€15,953▼ 5.4%
2023 - 2025
Staff (FTE)
3.5▼ 43.5%
2023 - 2024
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 47, Retail 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
Line202320242025
Operating result€16,566-€9,764▼ 41.1%€2,214▼ 77.3%
Net result€10,123within the sector's middle half-€4,567within the sector's middle half▼ 54.9%-€904within the sector's middle half
Equity€13,123within the sector's middle half-€16,857within the sector's middle half▲ 28.5%€15,953within the sector's middle half▼ 5.4%
Total assets€57,899below the sector's middle half-€52,397below the sector's middle half▼ 9.5%€36,856below the sector's middle half▼ 29.7%
Debt€44,776-€35,540▼ 20.6%€20,903▼ 41.2%
Working capital€3,898within the sector's middle half-€7,115within the sector's middle half▲ 82.5%€4,514within the sector's middle half▼ 36.6%
Solvency22.7%within the sector's middle half-32.2%within the sector's middle half▲ 9.5pp43.3%within the sector's middle half▲ 11.1pp
Current ratio1.17within the sector's middle half-1.32within the sector's middle half▲ 0.161.28within the sector's middle half▼ 0.05
Return on assets (ROA)17.5%above the sector's middle half-8.7%within the sector's middle half▼ 8.8pp-2.5%within the sector's middle half▼ 11.2pp
Staff (FTE)6.2-3.5▼ 43.5%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 77% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €36,856
Fixed assets
€16,002 ▼ 31.0%
Current assets
€20,855 ▼ 28.6%
Equity and liabilities €36,856
Equity
€15,953 ▼ 5.4%
Debt
€20,903 ▼ 41.2%
Debt's share of the balance-sheet total falls from 67.8% to 56.7%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€9,394▼
2024 · €16,831
Cash flow
€6,276▼
2024 · €11,634
Debt to equity
1.31▼
2024 · 2.11
ROE
-5.7%▼
2024 · 27.1%
Interest coverage
4.28▼
2024 · 6.50
Debt ≤ 1 year
€16,341▼
2024 · €22,100
Debt > 1 year
€3,796▼
2024 · €12,656
Income taxes
€924▼
2024 · €2,606
Staff costs
€107,047▼
2024 · €126,228
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,146 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 92% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a small loss
2.2%
went bankrupt
5.9%
stopped otherwise
92%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.6% 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 497,341 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% | 1.8% |
| 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 2,146 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.
Filed annual accounts
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €117,554 | €126,228 | €107,047 | ▼ 15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,559 | €7,067 | €7,180 | ▲ 1.6% |
| Other operating charges640/8 | €5,851 | €8,941 | €1,080 | ▼ 87.9% |
| Gross operating margin9900 | €145,531 | €151,999 | €117,521 | ▼ 22.7% |
| Operating profit (loss)9901 | €16,566 | €9,764 | €2,214 | ▼ 77.3% |
| Financial income75/76B | €29 | €0 | - | - |
| Recurring financial income75 | €29 | €0 | - | - |
| Financial charges65/66B | €3,173 | €2,591 | €2,194 | ▼ 15.3% |
| Recurring financial charges65 | €3,173 | €2,591 | €2,194 | ▼ 15.3% |
| Profit (loss) for the period before taxes9903 | €13,422 | €7,173 | €20 | ▼ 99.7% |
| Income taxes67/77 | €3,298 | €2,606 | €924 | ▼ 64.5% |
| Profit (loss) for the period9904 | €10,123 | €4,567 | -€904 | ▼ 120% |
| Profit (loss) for the period to be appropriated9905 | €10,123 | €4,567 | -€904 | ▼ 120% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €57,899 | €52,397 | €36,856 | ▼ 29.7% |
| Fixed assets21/28 | €30,401 | €23,182 | €16,002 | ▼ 31.0% |
| Tangible fixed assets22/27 | €30,401 | €23,182 | €16,002 | ▼ 31.0% |
| Plant, machinery and equipment23 | €905 | €679 | €452 | ▼ 33.3% |
| Furniture and vehicles24 | €29,496 | €22,503 | €15,549 | ▼ 30.9% |
| Current assets29/58 | €27,498 | €29,215 | €20,855 | ▼ 28.6% |
| Amounts receivable within one year40/41 | €12,150 | €15,614 | €2,477 | ▼ 84.1% |
| Trade receivables40 | €10,417 | €14,314 | €999 | ▼ 93.0% |
| Other amounts receivable41 | €1,733 | €1,300 | €1,477 | ▲ 13.6% |
| Cash at bank and in hand54/58 | €13,476 | €12,020 | €13,619 | ▲ 13.3% |
| Deferred charges and accrued income490/1 | €1,873 | €1,581 | €4,759 | ▲ 201% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €57,899 | €52,397 | €36,856 | ▼ 29.7% |
| Equity10/15 | €13,123 | €16,857 | €15,953 | ▼ 5.4% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | €3,700 | €3,700 | = |
| Distributable reserves133 | - | €3,700 | €3,700 | = |
| Profit (loss) carried forward14 | €10,123 | €10,157 | €9,253 | ▼ 8.9% |
| Amounts payable17/49 | €44,776 | €35,540 | €20,903 | ▼ 41.2% |
| Amounts payable after more than one year17 | €21,176 | €12,656 | €3,796 | ▼ 70.0% |
| Financial debts170/4 | €21,176 | €12,656 | €3,796 | ▼ 70.0% |
| Amounts payable within one year42/48 | €23,600 | €22,100 | €16,341 | ▼ 26.1% |
| Current portion of amounts payable after more than one year42 | €8,192 | €8,520 | €8,860 | ▲ 4.0% |
| Trade debts44 | €1,406 | €3,307 | €2,094 | ▼ 36.7% |
| Suppliers440/4 | €1,406 | €3,307 | €2,094 | ▼ 36.7% |
| Taxes, remuneration and social security45 | €12,536 | €7,571 | €4,877 | ▼ 35.6% |
| Taxes450/3 | €6,144 | €7,554 | €1,788 | ▼ 76.3% |
| Remuneration and social security454/9 | €6,392 | €17 | €3,088 | ▲ 18,153% |
| Other amounts payable47/48 | €1,467 | €2,702 | €509 | ▼ 81.2% |
| Accrued charges and deferred income492/3 | - | €783 | €767 | ▼ 2.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,123 | €4,567 | -€904 | ▼ 120% |
| + Depreciation and write-downs630 | €5,559 | €7,067 | €7,180 | ▲ 1.6% |
| Operating cash flow (approximation) | €15,682 | €11,634 | €6,276 | ▼ 46.1% |
| Investment in fixed assets (approximation) | - | €152 | €0 | ▼ 100% |
| Change in cash | - | -€1,456 | €1,599 | ▲ 210% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Similar companies · same sector, comparable size
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JATALA
BE 0629.686.386
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AN SWAT
BE 0692.963.941
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MC2010
BE 0507.936.441
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Of 417 companies in this sector we hold annual accounts for 264. 170 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
4 eventsLatest 08-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€904
Net result drops to -€904, the lowest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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 · founded 06-01-2023Year ends 31-12Peppol reachable
Register details
Identification
Legal formPrivate limited company
Founded06-01-2023
Fiscal year end31-12
Activities, NACEBEL 2025
47260Retail trade
47621Retail sale of newspapers and periodicals
47252Retail sale of beverages, general range
47559Retail sale of other household articles
53200Other postal and courier activities
92000Gambling and betting activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0795841745
Also
9925:BE0795841745
Registered
20-01-2026
If you follow this company, Checked tells you the day it leaves 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, Brugelette
Ground area
372 m²
Building footprint
71 m²
Volume, LiDAR
238 m³
Parcel 51043A0137/00B000, Wallonia · tallest building 6.6 m, ±1 floor. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51043A0137/00B000 | Wallonia | 372 m² | 1 · 71 m² | 6.6 m · 1 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.
Go further with this company
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