Summary
CASSINI 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 €579,679 and a net result of €33,725. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 42% of 8074 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
19 d late
2024
20 d late
2023
15 d early
2022
21 d early
2021
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 6 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
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, micro schema
Equity
€579,679▲ 5.7%
2024 · €548,645
Net result
€33,725▼ 29.5%
2024 · €47,832
Total assets
€1.4m▼ 1.2%
2024 · €1.4m
Solvency
41.3%▲ 2.7pp
2024 · 38.6%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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€476,627-€69,010▼ 85.5%€116,934▲ 69.4%€66,411▼ 43.2%€46,756▼ 29.6%
Net result€328,014above the sector's middle half-€62,073within the sector's middle half▼ 81.1%€105,925above the sector's middle half▲ 70.6%€47,832within the sector's middle half▼ 54.8%€33,725within the sector's middle half▼ 29.5%
Equity€332,814within the sector's middle half-€394,887within the sector's middle half▲ 18.7%€500,813above the sector's middle half▲ 26.8%€548,645above the sector's middle half▲ 9.6%€579,679above the sector's middle half▲ 5.7%
Total assets€510,212within the sector's middle half-€1.5mabove the sector's middle half▲ 192%€1.4mabove the sector's middle half▼ 4.0%€1.4mabove the sector's middle half▼ 0.6%€1.4mabove the sector's middle half▼ 1.2%
Debt€177,398-€1.1m▲ 517%€928,522▼ 15.1%€872,668▼ 6.0%€824,138▼ 5.6%
Working capital€251,568-€171,550▼ 31.8%€298,015▲ 73.7%€303,751▲ 1.9%€374,004▲ 23.1%
Solvency65.2%within the sector's middle half-26.5%within the sector's middle half▼ 38.7pp35.0%within the sector's middle half▲ 8.5pp38.6%within the sector's middle half▲ 3.6pp41.3%within the sector's middle half▲ 2.7pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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 per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 30% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€975,961 ▼ 7.0%
Current assets
€427,856 ▲ 15.1%
Equity and liabilities €1.4m
Equity
€579,679 ▲ 5.7%
Debt
€824,138 ▼ 5.6%
Debt's share of the balance-sheet total falls from 61.4% to 58.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.8%▼
2024 · 8.7%
ROA
2.4%▼
2024 · 3.4%
Debt ≤ 1 year
€53,852▼
2024 · €67,999
Debt > 1 year
€770,286▼
2024 · €804,669
Income taxes
€12,934▼
2024 · €18,523
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,670 | €26,609 | €56,150 | €72,808 | €73,602 | ▲ 1.1% |
| Other operating charges640/8 | €5,520 | €2,731 | €1,919 | €1,258 | €5,346 | ▲ 325% |
| Non-recurring operating charges66A | - | €720 | €0 | - | - | - |
| Gross operating margin9900 | €489,818 | €99,071 | €175,003 | €140,477 | €125,704 | ▼ 10.5% |
| Operating profit (loss)9901 | €476,627 | €69,010 | €116,934 | €66,411 | €46,756 | ▼ 29.6% |
| Financial income75/76B | €23 | €29 | €233 | €5 | €4 | ▼ 11.4% |
| Recurring financial income75 | €23 | €29 | €233 | €5 | €4 | ▼ 11.4% |
| Financial charges65/66B | €410 | €193 | €68 | €61 | €102 | ▲ 65.1% |
| Recurring financial charges65 | €410 | €193 | €68 | €61 | €102 | ▲ 65.1% |
| Profit (loss) for the period before taxes9903 | €476,240 | €68,846 | €117,099 | €66,355 | €46,659 | ▼ 29.7% |
| Income taxes67/77 | €148,225 | €6,774 | €11,173 | €18,523 | €12,934 | ▼ 30.2% |
| Profit (loss) for the period9904 | €328,014 | €62,073 | €105,925 | €47,832 | €33,725 | ▼ 29.5% |
| Profit (loss) for the period to be appropriated9905 | €328,014 | €62,073 | €105,925 | €47,832 | €33,725 | ▼ 29.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €510,212 | €1.5m | €1.4m | €1.4m | €1.4m | ▼ 1.2% |
| Fixed assets21/28 | €86,362 | €1.1m | €1.0m | €1.0m | €975,961 | ▼ 7.0% |
| Tangible fixed assets22/27 | €86,362 | €1.1m | €1.0m | €1.0m | €975,961 | ▼ 7.0% |
| Land and buildings22 | - | €1.0m | €990,672 | €950,200 | €909,727 | ▼ 4.3% |
| Plant, machinery and equipment23 | €34,762 | €32,202 | €35,050 | €29,794 | €18,600 | ▼ 37.6% |
| Furniture and vehicles24 | €51,600 | €40,949 | €20,212 | €69,569 | €47,634 | ▼ 31.5% |
| Current assets29/58 | €423,851 | €396,984 | €383,400 | €371,750 | €427,856 | ▲ 15.1% |
| Amounts receivable within one year40/41 | €23,647 | €248,480 | €52,739 | €53,022 | €69,486 | ▲ 31.1% |
| Trade receivables40 | €22,642 | €39,522 | €52,739 | €41,545 | €39,438 | ▼ 5.1% |
| Other amounts receivable41 | €1,005 | €208,958 | €0 | €11,477 | €30,048 | ▲ 162% |
| Cash at bank and in hand54/58 | €399,342 | €148,279 | €330,436 | €317,705 | €358,371 | ▲ 12.8% |
| Deferred charges and accrued income490/1 | €862 | €225 | €225 | €1,023 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €510,212 | €1.5m | €1.4m | €1.4m | €1.4m | ▼ 1.2% |
| Equity10/15 | €332,814 | €394,887 | €500,813 | €548,645 | €579,679 | ▲ 5.7% |
| Contributions10/11 | €4,800 | €4,800 | €4,800 | €4,800 | €4,800 | = |
| Reserves13 | €328,014 | €390,087 | €496,013 | €543,845 | €574,879 | ▲ 5.7% |
| Distributable reserves133 | €328,014 | €390,087 | €496,013 | €543,845 | €574,879 | ▲ 5.7% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €177,398 | €1.1m | €928,522 | €872,668 | €824,138 | ▼ 5.6% |
| Amounts payable after more than one year17 | €5,115 | €867,533 | €843,021 | €804,669 | €770,286 | ▼ 4.3% |
| Financial debts170/4 | €5,115 | €867,533 | €831,133 | €794,733 | €758,334 | ▼ 4.6% |
| Other amounts payable178/9 | - | - | €11,888 | €9,936 | €11,952 | ▲ 20.3% |
| Amounts payable within one year42/48 | €172,283 | €225,434 | €85,385 | €67,999 | €53,852 | ▼ 20.8% |
| Current portion of amounts payable after more than one year42 | €19,970 | €47,582 | €36,400 | €36,400 | €36,400 | = |
| Trade debts44 | €1,468 | €14,001 | €12,093 | €4,600 | €1,799 | ▼ 60.9% |
| Suppliers440/4 | €1,468 | €14,001 | €12,093 | €4,600 | €1,799 | ▼ 60.9% |
| Taxes, remuneration and social security45 | €150,844 | €161,867 | €36,893 | €26,999 | €12,963 | ▼ 52.0% |
| Taxes450/3 | €148,372 | €154,999 | €32,663 | €22,198 | €10,326 | ▼ 53.5% |
| Remuneration and social security454/9 | €2,473 | €6,868 | €4,229 | €4,801 | €2,636 | ▼ 45.1% |
| Other amounts payable47/48 | - | €1,984 | €0 | - | €2,690 | - |
| Accrued charges and deferred income492/3 | - | €1,194 | €115 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €328,014 | €62,073 | €105,925 | €47,832 | €33,725 | ▼ 29.5% |
| + Depreciation and write-downs630 | €7,670 | €26,609 | €56,150 | €72,808 | €73,602 | ▲ 1.1% |
| Operating cash flow (approximation) | €335,685 | €88,682 | €162,076 | €120,640 | €107,327 | ▼ 11.0% |
| Investment in fixed assets (approximation) | - | -€1.0m | -€10,019 | -€76,437 | €0 | ▲ 100% |
| Change in cash | - | -€251,063 | €182,157 | -€12,731 | €40,666 | ▲ 419% |
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
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 19 days late
2025
31-12
Financial
Weakest financial yearnet €33,725 ▼29.5%
Net result drops to €33,725, the lowest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 4.49
Current ratio from 1.76 to 4.49; short-term debt falls from €225,434 to €85,385.
31-12
Financial
Equity above €500,000Eq €500,813 ▲26.8%
3 profitable years in a row build equity to €500,813.
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Ieper · 1 establishment unit since 2020
Ground area
1,713 m²
Building footprint
190 m²
Volume, LiDAR
1,073 m³
Parcel 33036C0248/00G000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
CASSINI
since 20202.309.197.440
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33036C0248/00G000 | Flanders | 1,713 m² | 1 · 190 m² | 9.0 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.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,522 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
Founded29-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0757596922
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.