CASSAN
ActiveCASSAN has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €28k. Equity is growing by ~40.9% per year across the filed fiscal years. Its solvency ranks better than 34% of 13882 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency8▼-1
Growth78=
Stability94
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days only on tighter terms
Liquidity short (current ratio 0.1 against 0.14 in 2024), and 88.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
11.5%
Return on assets
5.3%
Age of the figures
8 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 01-07-2026, 30 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
30 d early
2024
15 d early
2023
1 d early
2022
17 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€60k▲ 1.3%
2024 · €59k
2022: €10k
2023: €30k
2024: €59k
2022 → 2025
Total assets
€520k▲ 21.4%
2024 · €429k
2022: €159k
2023: €344k
2024: €429k
2022 → 2025
Net result
€28k▼ 4.2%
2024 · €29k
2022: €5k
2023: €20k
2024: €29k
2022 → 2025
Working capital
€-301k▼ 18.4%
2024 · €-254k
2022: €-79k
2023: €-226k
2024: €-254k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€10k-€30k▲ 197%€59k▲ 95.9%€60k▲ 1.3%
Operating result€9k-€37k▲ 307%€43k▲ 16.9%€47k▲ 9.2%
Net result€5k-€20k▲ 286%€29k▲ 44.7%€28k▼ 4.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 9% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €520k
Fixed assets
€485k▲ 25.6%
Current assets
€35k▼ 17.0%
Equity and liabilities €520k
Equity
€60k▲ 1.3%
Debt
€460k▲ 24.6%
The debt ratio rises from 86.2% to 88.5%: debt grows faster than equity.
Key figures and ratios
EBITDA
€71k▲
2024 · €57k
Cash flow
€52k▲
2024 · €43k
Solvency
11.5%▼
2024 · 13.8%
Current ratio
0.10▼
2024 · 0.14
Quick ratio
0.10▼
2024 · 0.14
Debt / equity
7.68▲
2024 · 6.24
ROE
46.3%▼
2024 · 48.9%
ROA
5.3%▼
2024 · 6.8%
Interest coverage
6.92▼
2024 · 7.85
Debt
€460k▲
2024 · €369k
Debt ≤ 1 year
€336k▲
2024 · €296k
Debt > 1 year
€120k▲
2024 · €70k
Income taxes
€9k▲
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€429k€520k▲
Fixed assets21/28€386k€485k▲
Tangible fixed assets22/27€386k€485k▲
Land and buildings22€354k€457k▲
Plant, machinery and equipment23€30k€27k▼
Furniture and vehicles24€2k€968▼
Current assets29/58€42k€35k▼
Amounts receivable within one year40/41€35k€17k▼
Trade receivables40€31k€14k▼
Other amounts receivable41€4k€3k▼
Cash at bank and in hand54/58€7k€18k▲
Deferred charges and accrued income490/1€260€490▲
Equity and liabilities
Total equity and liabilities10/49€429k€520k▲
Equity10/15€59k€60k▲
Contributions10/11€5k€5k=
Profit (loss) carried forward14€54k€55k▲
Amounts payable17/49€369k€460k▲
Amounts payable after more than one year17€70k€120k▲
Financial debts170/4€70k€120k▲
Amounts payable within one year42/48€296k€336k▲
Current portion of amounts payable after more than one year42€32k€51k▲
Trade debts44€9k€9k▲
Suppliers440/4€9k€9k▲
Taxes, remuneration and social security45€7k€9k▲
Taxes450/3€7k€9k▲
Other amounts payable47/48€249k€266k▲
Accrued charges and deferred income492/3€3k€5k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€25k▲
Other operating charges640/8€4k€3k▼
Gross operating margin9900€61k€74k▲
Operating profit (loss)9901€43k€47k▲
Financial income75/76B€3€50▲
Recurring financial income75€3€50▲
Financial charges65/66B€7k€10k▲
Recurring financial charges65€7k€10k▲
Profit (loss) for the period before taxes9903€35k€36k▲
Income taxes67/77€7k€9k▲
Profit (loss) for the period9904€29k€28k▼
Profit (loss) for the period to be appropriated9905€29k€28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€54k€82k▲
Profit (loss) brought forward from the previous period14P€25k€54k▲
Profit to be distributed694/7-€27k
Return on contributions (dividend)694-€27k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2022net €29k ▲44.7%
Net result €29k, the highest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Middelkerke · 2 establishment units since 2022
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Alexandre Ponchonstraat 18/06058430 MiddelkerkeGround area
1,178 m²
Building footprint
420 m²
Volume, LiDAR
7,328 m³
2 parcels, Flanders · tallest building 26.4 m, ±8 floors. Linked by address, not a title deed.
2 establishment units
Sint Jobstraat 274, 9300 Aalst
since 20222.333.151.490
CASSAN
since 20222.333.151.589
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002B0254/00Y000 | Flanders | 896 m² | 1 · 145 m² | 20.8 m · 1 fl. |
| 35011B0180/00N079 | Flanders | 282 m² | 1 · 275 m² | 26.4 m · 8 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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JEFIMA
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Of 9,637 companies in sector 68121 we hold annual accounts for 7,329. 5,079 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-07-2022
Fiscal year end31-12
Activities, NACEBEL
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.