Equity
Equity fell by 84% in 2 years.
Equity fell by 84% in 2 years.
The micro format states no turnover.
Of this, €245,211 falls due within a year.
In 2025, 5 people joined and 5 left.
The 2025 accounts came 25 days late. The other four were filed on time.
Higher net result than 94% of companies in civil engineering. Sector median €12,006 · 1,259 companies.
The dashed line is the sector median: 0.8% across 1,866 companies (NACE 42, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, micro). It does better than 30% of them on solvency, 38% on liquidity, 91% on profitability and 9% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,713 companies had the same profile as CB-Tech has now. Each dot stands for 17 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CB-Tech itself: 0.4% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,713 companies, not a prediction for CB-Tech. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is tight, with a current ratio of 1.23 (1.45 in 2024), below the usual 1.5. Short-term debt is 61.6% and cash 21% of total assets. 73.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 29 days before the deadline. In the sector (NACE 42), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CB-Tech Houthalen-Helchteren | €398,147 | €259,479 | 26.6% | - |
| FEKA-TECH Ghent | €352,648 | €232,258 | 62.0% | - |
| MB SPEEDFIT Zoersel | €539,993 | €206,561 | 88.9% | - |
| BRANDT Roeselare | €523,289 | €351,365 | 48.5% | - |
| CLEUSEN Tongeren-Borgloon | €327,814 | €103,526 | 80.3% | - |
| DAL TECH Zele | €463,622 | €403,308 | 66.5% | - |
| D. SANTOS Hamme (Vl.) | €335,748 | €245,302 | 38.6% | - |
These companies have the same main activity as CB-Tech: civil engineering (NACE 42211). They are comparable in size and age: total assets between €328,000 and €540,000, founded between 2017 and 2021.
CB-Tech files the micro format. That format states no turnover. The gross margin fell from €276,087 in 2021 to €259,479 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €520,000. Estimated: probably between €360,000 and €760,000.
Higher than 29% of 1,263 companies in 2025.
Higher than 33% of 1,222 companies in 2025.
Higher than 79% of 1,227 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 5 people joined and 5 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
398,147 | 669,023 | 832,245 | 618,427 | 265,581 | |
21/28 |
96,117 | 101,408 | 162,973 | 114,530 | 71,587 | |
22/27 |
96,117 | 101,368 | 162,973 | 114,530 | 71,587 | |
23 |
12,918 | 20,465 | 30,765 | 37,275 | 16,273 | |
24 |
33,443 | 44,888 | 62,133 | 21,030 | 20,248 | |
25 |
48,910 | 34,103 | 67,097 | 52,182 | 29,958 | |
26 |
847 | 1,912 | 2,978 | 4,043 | 5,108 | |
28 |
- | 40 | - | - | - | |
29/58 |
302,030 | 567,615 | 669,272 | 503,897 | 193,994 | |
40/41 |
192,890 | 136,019 | 244,494 | 180,193 | 143,848 | |
40 |
157,335 | 122,111 | 16,102 | 154,955 | 136,529 | |
41 |
35,555 | 13,908 | 228,392 | 25,239 | 7,318 | |
54/58 |
83,575 | 400,088 | 422,116 | 323,001 | 49,872 | |
490/1 |
25,565 | 31,507 | 2,662 | 703 | 273 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
398,147 | 669,023 | 832,245 | 618,427 | 265,581 | |
10/15 |
105,842 | 242,806 | 660,643 | 430,820 | 172,000 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
13 |
102,842 | 239,806 | 657,643 | 427,820 | 169,000 | |
133 |
102,842 | 239,806 | 657,643 | 427,820 | 169,000 | |
14 |
- | 0 | - | - | - | |
17/49 |
292,305 | 426,217 | 171,602 | 187,608 | 93,580 | |
17 |
40,021 | 34,217 | 49,568 | 56,727 | 27,540 | |
170/4 |
40,021 | 34,217 | 49,568 | 56,727 | 27,540 | |
42/48 |
245,211 | 392,000 | 121,691 | 130,363 | 66,041 | |
42 |
20,245 | 15,351 | 19,287 | 18,217 | 11,449 | |
44 |
21,060 | 17,757 | 11,602 | 8,631 | 4,408 | |
440/4 |
21,060 | 17,757 | 11,602 | 8,631 | 4,408 | |
45 |
9,908 | 37,111 | 89,135 | 95,977 | 50,101 | |
450/3 |
286 | 28,699 | 80,859 | 88,525 | 45,839 | |
454/9 |
9,622 | 8,412 | 8,276 | 7,452 | 4,262 | |
47/48 |
193,999 | 321,780 | 1,666 | 7,538 | 83 | |
492/3 |
7,072 | 0 | 343 | 518 | - | |
| Income statement | ||||||
76A |
- | 0 | 10,977 | - | - | |
9900 |
259,479 | 276,910 | 477,007 | 492,676 | 276,087 | |
62 |
80,960 | 51,291 | 136,545 | 118,799 | 49,177 | |
630 |
36,831 | 41,814 | 34,958 | 28,898 | 10,752 | |
640/8 |
1,574 | 2,746 | 955 | 1,310 | 581 | |
9901 |
140,113 | 181,058 | 304,549 | 343,670 | 215,576 | |
75/76B |
2,348 | 1,385 | 6,449 | 92 | - | |
75 |
2,348 | 1,385 | 5,765 | 92 | - | |
76B |
- | 0 | 685 | - | - | |
65/66B |
9,436 | 9,568 | 6,439 | 5,614 | 854 | |
65 |
8,873 | 9,568 | 5,943 | 5,060 | 854 | |
66B |
563 | 0 | 496 | 554 | - | |
9903 |
133,024 | 172,876 | 304,559 | 338,147 | 214,723 | |
67/77 |
30,182 | 40,712 | 73,070 | 77,728 | 45,722 | |
9904 |
102,842 | 132,163 | 231,489 | 260,419 | 169,000 | |
9905 |
102,842 | 132,163 | 231,489 | 260,419 | 169,000 | |
| Appropriation of the result | ||||||
9906 |
102,842 | 132,163 | 231,489 | 260,419 | 169,000 | |
791/2 |
239,806 | 550,000 | - | - | - | |
691/2 |
102,842 | 132,163 | 229,823 | 258,819 | 169,000 | |
6921 |
102,842 | 132,163 | 229,823 | 258,819 | 169,000 | |
694/7 |
239,806 | 550,000 | 1,666 | 1,600 | - | |
694 |
239,806 | 550,000 | 1,666 | 1,600 | - | |
| Social balance sheet | ||||||
9087 |
2.4 | 3.2 | 3.4 | 3.1 | 1.3 | |
Hours worked1013 |
2,064 | 1,480 | 4,128 | 3,912 | 1,720 | |
| Document | ||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 25-08-2026.
2025 annual accounts filed 25 days after the deadline. Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00422816.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00422816 | |
| 31-12-2024 | micro format | 18-06-2025 | 2025-00149190 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00163109 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00131307 | |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20066678 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 176,945 | 222,873 | 339,507 | 372,568 | 226,329 | ||
| 139,674 | 173,978 | 266,447 | 289,317 | 179,753 | ||
| 31,580 | 1,854 | 207,307 | 71,841 | 82,340 | ||
| -316,513 | -22,028 | 99,115 | 273,129 | - | ||
| 56,819 | 175,615 | 547,581 | 373,534 | 127,953 | ||
| 26.6% | 36.3% | 79.4% | 69.7% | 64.8% | ||
| 1.23 | 1.45 | 5.50 | 3.87 | 2.94 | ||
| 2.76 | 1.76 | 0.26 | 0.44 | 0.54 | ||
| 97.2% | 54.4% | 35.0% | 60.4% | 98.3% | ||
| 25.8% | 19.8% | 27.8% | 42.1% | 63.6% | ||
| 19.94 | 23.29 | 57.13 | 73.63 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 4 | 4 | 2 |
| full-time | 2 | 2 | 4 | 4 | 2 |
| part-time | - | 0 | - | - | - |
| in full-time equivalents | 2 | 2 | 4 | 4 | 2 |
| 2.4 | 3.2 | 3.4 | 3.1 | 1.3 | |
| On a permanent contract | 2 | 2 | 4 | 4 | 2 |
| Joined | 5 | 1 | 3 | 6 | 2 |
| Left | 5 | 3 | 3 | 4 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €31,580 | €1,814 | €207,307 | €71,841 | €82,340 |
| Financial fixed assets | - | €40 | - | - | - |
| €36,831 | €41,814 | €34,958 | €28,898 | €10,752 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 23% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
Debt's share of the balance-sheet total rises from 63.7% to 73.4%. Equity and debt are lower.
CB-Tech has no parent and no holdings in its annual accounts. IPCIOGLU Ferat is the only director. CB-Tech shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
CB-Tech was incorporated on 18 December 2020 as a private limited company by two natural persons, with a starting capital of €3,000.12 Since 2020, IPCIOGLU Ferat has served as director.3 Total assets rose from €265,581 in 2021 to €398,147 in 2025 and headcount from 1.3 to 2.4 full-time equivalents.4
| Establishment | Since | Unit number |
|---|---|---|
| Kolderstraat 174 registered office 3530 Houthalen-Helchteren | 02-01-2021 | 2.311.171.092 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 72015A1068/00B005 | 773 m² | 1 · 145 m² | 9.4 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0759.968.571
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