CASSIOPEIA
ActiveSummary
CASSIOPEIA has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.7m and a net result of -€218,328. Equity is growing by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability9▼-69
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200,000 at 30 days acceptable
Liquidity ample (current ratio 70.13 against 8.29 in 2024; short-term debt: 1% and cash: 50.6% of total assets), and 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+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
99%
Return on assets
-8.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-01-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
53 d early
2023
8 d early
2022
57 d early
2021
7 d early
2020
6 d early
2019
7 d early
← 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 20 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€2.7m▼ 7.6%
2024 · €2.9m
Total assets
€2.7m▼ 14.2%
2024 · €3.1m
Net result
-€218,328
2024 · €228,828
Working capital
€1.8m▼ 2.8%
2024 · €1.8m
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€920,077▲ 155%€737,164▼ 19.9%-€34,393€288,457-€286,332
Net result€617,438▲ 158%€513,262▼ 16.9%-€41,117€228,828-€218,328
Equity€2.7m▲ 30.2%€3.0m▲ 12.9%€2.8m▼ 7.2%€2.9m▲ 3.3%€2.7m▼ 7.6%
Total assets€3.0m▲ 15.1%€3.3m▲ 11.0%€3.1m▼ 6.9%€3.1m▲ 2.3%€2.7m▼ 14.2%
Debt€304,805▼ 42.9%€286,732▼ 5.9%€274,086▼ 4.4%€252,488▼ 7.9%€25,872▼ 89.8%
Working capital€1.7m▲ 7.2%€2.1m▲ 25.5%€1.9m▼ 11.6%€1.8m▼ 2.6%€1.8m▼ 2.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Net result +158% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €286,332 after €288,457 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€877,642 ▼ 15.9%
Current assets
€1.8m ▼ 13.3%
Equity and liabilities €2.7m
Equity
€2.7m ▼ 7.6%
Debt
€25,872 ▼ 89.8%
Debt's share of the balance-sheet total falls from 8.0% to 1.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€110,414▼
2024 · €423,089
Cash flow
-€42,411▼
2024 · €363,460
Current ratio
70.13▲
2024 · 8.29
Quick ratio
70.13▲
2024 · 8.29
Debt to equity
0.01▼
2024 · 0.09
ROE
-8.2%▼
2024 · 7.9%
ROA
-8.1%▼
2024 · 7.3%
Interest coverage
-30.64▼
2024 · 173.57
Debt ≤ 1 year
€25,872▼
2024 · €252,488
Income taxes
€789▼
2024 · €94,483
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 8,594 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 | - | - | - | €19,800 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €101,770 | €107,054 | €125,884 | €134,632 | €175,917 | ▲ 30.7% |
| Other operating charges640/8 | - | €6,325 | €12,098 | €12,966 | €8,269 | ▼ 36.2% |
| Gross operating margin9900 | €1.0m | €850,543 | €103,589 | €436,055 | -€102,145 | ▼ 123% |
| Operating profit (loss)9901 | €920,077 | €737,164 | -€34,393 | €288,457 | -€286,332 | ▼ 199% |
| Financial income75/76B | - | €5 | €605 | €37,291 | €72,395 | ▲ 94.1% |
| Recurring financial income75 | €1,156 | €5 | €605 | €37,291 | €72,395 | ▲ 94.1% |
| Financial charges65/66B | - | €8,502 | €6,681 | €2,438 | €3,604 | ▲ 47.8% |
| Recurring financial charges65 | €5,037 | €8,502 | €6,681 | €2,438 | €3,604 | ▲ 47.8% |
| Profit (loss) for the period before taxes9903 | €916,196 | €728,668 | -€40,469 | €323,311 | -€217,540 | ▼ 167% |
| Transfer from deferred taxes780 | - | €18,750 | - | - | - | - |
| Income taxes67/77 | €298,759 | €234,155 | €648 | €94,483 | €789 | ▼ 99.2% |
| Profit (loss) for the period9904 | €617,438 | €513,262 | -€41,117 | €228,828 | -€218,328 | ▼ 195% |
| Profit (loss) for the period to be appropriated9905 | €617,438 | €513,262 | -€41,117 | €228,828 | -€218,328 | ▼ 195% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €3.3m | €3.1m | €3.1m | €2.7m | ▼ 14.2% |
| Fixed assets21/28 | €961,983 | €872,355 | €903,080 | €1.0m | €877,642 | ▼ 15.9% |
| Tangible fixed assets22/27 | €961,983 | €872,315 | €903,040 | €1.0m | €877,602 | ▼ 15.9% |
| Land and buildings22 | - | €743,028 | €706,319 | €699,078 | €601,142 | ▼ 14.0% |
| Plant, machinery and equipment23 | - | €94,430 | €82,688 | €87,536 | €78,338 | ▼ 10.5% |
| Furniture and vehicles24 | - | €34,856 | €114,033 | €257,389 | €198,122 | ▼ 23.0% |
| Financial fixed assets28 | - | €40 | €40 | €40 | €40 | = |
| Current assets29/58 | €2.0m | €2.4m | €2.2m | €2.1m | €1.8m | ▼ 13.3% |
| Stocks and contracts in progress3 | - | - | €130 | €130 | €130 | = |
| Stocks30/36 | - | - | €130 | €130 | €130 | = |
| Amounts receivable within one year40/41 | €44,410 | €48,046 | €149,387 | €3,433 | €29,492 | ▲ 759% |
| Trade receivables40 | - | €32,094 | €149,387 | €3,388 | €8,470 | ▲ 150% |
| Other amounts receivable41 | - | €15,953 | - | €45 | €21,022 | ▲ 46,234% |
| Current investments50/53 | - | - | €600,000 | €1.6m | €412,394 | ▼ 74.2% |
| Cash at bank and in hand54/58 | €1.6m | €2.4m | €1.4m | €478,743 | €1.4m | ▲ 184% |
| Deferred charges and accrued income490/1 | - | €9,210 | €10,303 | €12,069 | €11,033 | ▼ 8.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €3.3m | €3.1m | €3.1m | €2.7m | ▼ 14.2% |
| Equity10/15 | €2.7m | €3.0m | €2.8m | €2.9m | €2.7m | ▼ 7.6% |
| Contributions10/11 | - | €280,000 | €280,000 | €280,000 | €280,000 | = |
| Reserves13 | €1.4m | €1.7m | €1.5m | €1.6m | €1.6m | = |
| Non-distributable reserves130/1 | - | €28,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | €28,000 | - | - | - | - |
| Distributable reserves133 | - | €1.7m | €1.5m | €1.6m | €1.6m | = |
| Profit (loss) carried forward14 | €1.0m | €1.0m | €980,269 | €980,297 | €761,969 | ▼ 22.3% |
| Amounts payable17/49 | €304,805 | €286,732 | €274,086 | €252,488 | €25,872 | ▼ 89.8% |
| Amounts payable within one year42/48 | €304,735 | €286,732 | €274,086 | €252,488 | €25,872 | ▼ 89.8% |
| Trade debts44 | €31,583 | €15,429 | €16,977 | €32,970 | €15,302 | ▼ 53.6% |
| Suppliers440/4 | - | €15,429 | €16,977 | €32,970 | €15,302 | ▼ 53.6% |
| Taxes, remuneration and social security45 | - | €20,239 | €24,803 | €54,204 | €1,436 | ▼ 97.3% |
| Taxes450/3 | - | €20,239 | €24,803 | €54,204 | €1,436 | ▼ 97.3% |
| Other amounts payable47/48 | - | €251,064 | €232,306 | €165,315 | €9,134 | ▼ 94.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €617,438 | €513,262 | -€41,117 | €228,828 | -€218,328 | ▼ 195% |
| + Depreciation and write-downs630 | €101,770 | €107,054 | €125,884 | €134,632 | €175,917 | ▲ 30.7% |
| Operating cash flow (approximation) | €719,208 | €620,316 | €84,767 | €363,460 | -€42,411 | ▼ 112% |
| Investment in fixed assets (approximation) | - | -€17,425 | -€156,610 | -€275,595 | -€9,517 | ▲ 96.5% |
| Change in cash | - | €765,746 | -€962,052 | -€925,143 | €882,639 | ▲ 195% |
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
27-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet -€218,328
Net result drops to -€218,328, the lowest in the series.
30-06
Financial
Liquidity times 8current ratio 70.13
Current ratio from 8.29 to 70.13; short-term debt falls from €252,488 to €25,872.
2024
09-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-06
Financial
Back to profitnet €228,828
Net result €228,828 after one loss-making year.
04-04
State Gazette act
Board meeting · Power of attorney
Ratification
04-04
State Gazette act
Board meeting · Power of attorney
23-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
05-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
24-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Highest result since 2019net €617,438 ▲158%
Operating result €920,077, net result €617,438, both a record.
25-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
30-06
Financial
Equity above €2mEq €2.0m ▲13.2%
2 profitable years in a row build equity to €2.0m.
24-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
10-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB 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, Enghien · 1 establishment unit since 1998
Ground area
3,828 m²
Building footprint
364 m²
Parcel 55033A0524/00P004, Wallonia. Linked by address, not a title deed.
1 establishment unit
Snippendreef(P.E.) 4, 7850 Enghien
since 19982.087.067.539
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55033A0524/00P004 | Wallonia | 3,828 m² | 1 · 364 m² | - |
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 82,642 companies in sector 70200 we hold annual accounts for 52,590. 17,023 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
Founded05-06-1998
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463457882
Registered
02-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.