CASSIOPEIA
ActiveSummary
CASSIOPEIA has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €30.9m and a net result of -€47,040. Equity remains stable across the filed fiscal years (±0.1% per year). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.0 against 0.0 in 2024; short-term debt: 3.9% and cash: 0% of total assets), and 3.9% 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+raises risk○neutral
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
96.1%
Return on assets
-0.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 30-12-2025 was due by 30-07-2026 and was filed on 31-07-2026, 1 day 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 · 10 filingsDeviation from the deadline
2025
1 d late
2024
1 d late
2023
on the day
2022
1 d late
2021
21 d late
2020
32 d late
2019
23 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 11 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-12-2026 and is due by 30-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-12-2026 close30-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?CASSIOPEIA · 24 companies How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€47,040▲ 7.7%
2024 · -€50,950
Working capital
-€1.3m▼ 3.7%
2024 · -€1.2m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€2,735▲ 2.3%-€2,824▼ 3.3%-€3,306▼ 17.1%-€9,379▼ 184%-€3,967▲ 57.7%
Net result-€27,696▲ 5.2%-€30,663▼ 10.7%-€43,321▼ 41.3%-€50,950▼ 17.6%-€47,040▲ 7.7%
Equity€31.1m▼ 0.1%€31.1m▼ 0.1%€31.0m▼ 0.1%€31.0m▼ 0.2%€30.9m▼ 0.2%
Total assets€32.3m=€32.2m▼ 0.4%€32.2m=€32.2m=€32.2m=
Debt€1.2m▲ 2.5%€1.1m▼ 7.0%€1.2m▲ 3.8%€1.2m▲ 4.4%€1.3m▲ 3.9%
Working capital-€1.1m▼ 2.6%-€1.1m▼ 2.8%-€1.2m-€1.3m▼ 3.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3,967 in 2025 against €9,379 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.2m
Fixed assets
€32.2m =
Current assets
€97 ▲ 79.5%
Equity and liabilities €32.2m
Equity
€30.9m ▼ 0.2%
Debt
€1.3m ▲ 3.9%
Debt's share of the balance-sheet total rises from 3.8% to 3.9%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.00▲
2024 · 0.00
Debt to equity
0.04▲
2024 · 0.04
ROE
-0.2%▲
2024 · -0.2%
ROA
-0.1%▲
2024 · -0.2%
Debt ≤ 1 year
€1.3m▲
2024 · €1.2m
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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €999 | €1,000 | €1,099 | €1,123 | €1,148 | ▲ 2.3% |
| Gross operating margin9900 | -€1,736 | -€1,824 | -€2,207 | -€8,256 | -€2,818 | ▲ 65.9% |
| Operating profit (loss)9901 | -€2,735 | -€2,824 | -€3,306 | -€9,379 | -€3,967 | ▲ 57.7% |
| Financial income75/76B | €2,848 | - | - | - | - | - |
| Recurring financial income75 | €2,848 | - | - | - | - | - |
| Financial charges65/66B | €27,810 | €27,839 | €40,014 | €41,571 | €43,073 | ▲ 3.6% |
| Recurring financial charges65 | €27,810 | €27,839 | €40,014 | €41,571 | €43,073 | ▲ 3.6% |
| Profit (loss) for the period before taxes9903 | -€27,696 | -€30,663 | -€43,321 | -€50,950 | -€47,040 | ▲ 7.7% |
| Profit (loss) for the period9904 | -€27,696 | -€30,663 | -€43,321 | -€50,950 | -€47,040 | ▲ 7.7% |
| Profit (loss) for the period to be appropriated9905 | -€27,696 | -€30,663 | -€43,321 | -€50,950 | -€47,040 | ▲ 7.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €32.3m | €32.2m | €32.2m | €32.2m | €32.2m | = |
| Fixed assets21/28 | €32.2m | €32.2m | €32.2m | €32.2m | €32.2m | = |
| Financial fixed assets28 | €32.2m | €32.2m | €32.2m | €32.2m | €32.2m | = |
| Current assets29/58 | €115,808 | €74 | - | €54 | €97 | ▲ 79.5% |
| Amounts receivable within one year40/41 | €115,786 | - | - | - | - | - |
| Other amounts receivable41 | €115,786 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €22 | €74 | - | €54 | €97 | ▲ 79.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €32.3m | €32.2m | €32.2m | €32.2m | €32.2m | = |
| Equity10/15 | €31.1m | €31.1m | €31.0m | €31.0m | €30.9m | ▼ 0.2% |
| Contributions10/11 | €31.4m | €31.4m | €31.4m | €31.4m | €31.4m | = |
| Capital10 | €31.4m | €31.4m | €31.4m | €31.4m | €31.4m | = |
| Issued capital100 | €31.4m | €31.4m | €31.4m | €31.4m | €31.4m | = |
| Profit (loss) carried forward14 | -€313,211 | -€343,874 | -€387,194 | -€438,144 | -€485,184 | ▼ 10.7% |
| Amounts payable17/49 | €1.2m | €1.1m | €1.2m | €1.2m | €1.3m | ▲ 3.9% |
| Amounts payable within one year42/48 | €1.2m | €1.1m | €1.2m | €1.2m | €1.3m | ▲ 3.7% |
| Financial debts43 | - | - | €35 | - | - | - |
| Credit institutions430/8 | - | - | €35 | - | - | - |
| Trade debts44 | €5,588 | €6,807 | €9,974 | €16,536 | €17,524 | ▲ 6.0% |
| Suppliers440/4 | €5,588 | €6,807 | €9,974 | €16,536 | €17,524 | ▲ 6.0% |
| Other amounts payable47/48 | €1.2m | €1.1m | €1.2m | €1.2m | €1.2m | ▲ 3.7% |
| Accrued charges and deferred income492/3 | €908 | €908 | €908 | €908 | €2,838 | ▲ 213% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,696 | -€30,663 | -€43,321 | -€50,950 | -€47,040 | ▲ 7.7% |
| Operating cash flow (approximation) | -€27,696 | -€30,663 | -€43,321 | -€50,950 | -€47,040 | ▲ 7.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €53 | - | - | €43 | - |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 1 day late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 1 day late
2024
30-12
Financial
Weakest financial yearnet -€50,950
Net result drops to -€50,950, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 1 day late
2022
20-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 21 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 32 days late
2020
22-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 23 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 1 day late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 1 day late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 32 days late
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, Mechelen · 1 establishment unit since 1996
Ground area
2,238 m²
Building footprint
275 m²
Volume, LiDAR
1,613 m³
Parcel 12012C0095/00E000, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CASSIOPEIA
since 19962.078.216.882
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12012C0095/00E000 | Flanders | 2,238 m² | 1 · 275 m² | 9.3 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
Heads the group
CASSIOPEIA
24 companies
Group, risk and exposure
Owners and holdings
2 holdings · 33 subsidiaries in the treeOwners 0
The accounts to 30-12-2025 list no shareholders, and no other source names one.
Holdings 2
- WILLEMEN GROEPsubsidiaryEquity €33.4mResult -€9.8m69%
- SANITECHNIEKsubsidiaryEquity €3.3mResult €182,83154%
All subsidiaries, including indirect ones 33
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
WILLEMEN GROEP 69%31 subsidiaries
- AMADEUS 100%
- ASKIMMO 100%
- CAVISO 100%
- Gebroeders Vereecken 100%
- Nosori SPzooPL 100%
- Reno-Immo 100%
- TESTEREP 100%
WILLEMEN INFRA 100%4 subsidiaries
- KOGAMAT 100%
- MOBILMAT 100%
- VANDAMME - MADOE 100%
- IMMO CAVAN 98.4%
- Willemen Konstrukcje SpzooPL 100%
- Willemen LithuaniaLT 100%
- Willemen PolskaPL 100%
- Willemen RomaniaRO 100%
- W-CARE 99.99%
Willemen Bouw 99.99%2 subsidiaries
- DBM Politie Zaventem 99%
- FRANKI 86.33%
- WILLEMEN FINANCE 99.99%
- WP STEEL BE 99.91%
- DALTECNIC 99.9%
WILLEMEN PROJECT FINANCE 99.17%1 subsidiary
- BE.SHARPPP 100%
WILLEMEN GLOBAL 99%3 subsidiaries
- De Waal PolskaPL 100%
- WILCOMAMA 100%
- WILLEMEN CONSTRUCT DEDE 100%
- WP Steel AssemblyRO 70%
- Kumpen consolidated
- SANITECHNIEK 54%
According to the annual accounts to 30-12-2025 of CASSIOPEIA and those 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.
Identification & contact
Identification
Legal formPublic limited company
Founded03-09-1996
Fiscal year end30-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.