CBFin
ActiveSummary
CBFin has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €488,341 and a net result of €114,727. Equity is shrinking by ~17.1% per year across the filed fiscal years. Its solvency ranks better than 52% of 3330 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▼-6
Solvency72▼-8
Growth58=
Track record94
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 1.84 against 2.04 in 2024; short-term debt: 52.1% and cash: 27.9% of total assets), but 52.6% 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
47.4%
Return on assets
11.1%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €488,341
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 13-07-2026, 18 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
18 d early
2024
1 d early
2023
20 d early
2022
18 d early
2021
17 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 15 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 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check 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 What other support did companies like this one receive, and it did not?Public money Which other companies belong to the same group?ENTERHOLD S.A. · 113 companies
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Financials · fiscal year 2025, abbreviated schema
Equity
€488,341▲ 30.7%
2024 · €373,614
Total assets
€1.0m▲ 52.3%
2024 · €676,191
Net result
€114,727▲ 5.5%
2024 · €108,769
Working capital
€450,919▲ 43.5%
2024 · €314,273
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, 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€1,059-€17,940▲ 1,594%-€450,000€179,873€181,403▲ 0.9%
Net result-€17,008below the sector's middle half--€11,632below the sector's middle half▲ 31.6%-€504,678below the sector's middle half▼ 4,239%€108,769within the sector's middle half€114,727within the sector's middle half▲ 5.5%
Equity€781,155within the sector's middle half-€769,523within the sector's middle half▼ 1.5%€264,845within the sector's middle half▼ 65.6%€373,614within the sector's middle half▲ 41.1%€488,341within the sector's middle half▲ 30.7%
Total assets€1.3mwithin the sector's middle half-€1.2mwithin the sector's middle half▼ 3.3%€716,363within the sector's middle half▼ 40.9%€676,191within the sector's middle half▼ 5.6%€1.0mwithin the sector's middle half▲ 52.3%
Debt€472,755-€443,113▼ 6.3%€451,518▲ 1.9%€302,577▼ 33.0%€536,745▲ 77.4%
Working capital€27,532within the sector's middle half-€107,170within the sector's middle half▲ 289%€248,519within the sector's middle half▲ 132%€314,273within the sector's middle half▲ 26.5%€450,919within the sector's middle half▲ 43.5%
Solvency62.3%within the sector's middle half-63.5%within the sector's middle half▲ 1.2pp37.0%within the sector's middle half▼ 26.5pp55.3%within the sector's middle half▲ 18.3pp47.4%within the sector's middle half▼ 7.8pp
Current ratio1.06within the sector's middle half-1.24within the sector's middle half▲ 0.181.62within the sector's middle half▲ 0.382.04within the sector's middle half▲ 0.421.84within the sector's middle half▼ 0.20
Return on assets (ROA)-1.4%below the sector's middle half--1.0%below the sector's middle half▲ 0.4pp-70.5%below the sector's middle half▼ 69.5pp16.1%within the sector's middle half▲ 86.5pp11.1%within the sector's middle half▼ 4.9pp
Staff (FTE)7.1within the sector's middle half-15.9above the sector's middle half▲ 124%17.6above the sector's middle half▲ 10.7%17.4above the sector's middle half▼ 1.1%15.7above the sector's middle half▼ 9.8%
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 1% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€41,838 ▼ 29.5%
Current assets
€987,664 ▲ 60.1%
Equity and liabilities €1.0m
Equity
€488,341 ▲ 30.7%
Provisions
€4,416
Debt
€536,745 ▲ 77.4%
Debt's share of the balance-sheet total rises from 44.7% to 52.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€203,582▲
2024 · €202,837
Cash flow
€136,906▲
2024 · €131,733
Debt to equity
1.10▲
2024 · 0.81
ROE
23.5%▼
2024 · 29.1%
Interest coverage
11.11▲
2024 · 10.22
Debt ≤ 1 year
€536,745▲
2024 · €302,577
Income taxes
€52,425▲
2024 · €51,317
Staff costs
€996,499▲
2024 · €994,832
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,778 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
2.6%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 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% | 1.7% |
| 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 75% 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 6,778 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €432,965 | €885,122 | €1.0m | €994,832 | €996,499 | ▲ 0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,608 | €80,348 | €91,886 | €22,964 | €22,179 | ▼ 3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €22,188 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €4,416 | - |
| Other operating charges640/8 | €6,397 | €7,023 | €12,118 | €2,434 | €2,626 | ▲ 7.9% |
| Non-recurring operating charges66A | - | - | €517,415 | €0 | - | - |
| Gross operating margin9900 | €488,028 | €990,433 | €1.2m | €1.2m | €1.2m | ▲ 2.4% |
| Operating profit (loss)9901 | €1,059 | €17,940 | -€450,000 | €179,873 | €181,403 | ▲ 0.9% |
| Financial income75/76B | €5 | €119 | €491 | €63 | €4,077 | ▲ 6,329% |
| Recurring financial income75 | €5 | €119 | €152 | €16 | €3,753 | ▲ 23,459% |
| Non-recurring financial income76B | - | - | €339 | €47 | €324 | ▲ 582% |
| Financial charges65/66B | €1,827 | €3,864 | €9,932 | €19,850 | €18,328 | ▼ 7.7% |
| Recurring financial charges65 | €1,827 | €3,864 | €9,932 | €19,850 | €18,328 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | -€763 | €14,195 | -€459,440 | €160,086 | €167,152 | ▲ 4.4% |
| Income taxes67/77 | €16,245 | €25,827 | €45,238 | €51,317 | €52,425 | ▲ 2.2% |
| Profit (loss) for the period9904 | -€17,008 | -€11,632 | -€504,678 | €108,769 | €114,727 | ▲ 5.5% |
| Transfer from tax-exempt reserves789 | - | - | €43,262 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€17,008 | -€11,632 | -€461,416 | €108,769 | €114,727 | ▲ 5.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.2m | €716,363 | €676,191 | €1.0m | ▲ 52.3% |
| Fixed assets21/28 | €753,623 | €662,353 | €66,326 | €59,341 | €41,838 | ▼ 29.5% |
| Intangible fixed assets21 | €735,476 | €587,107 | €0 | - | - | - |
| Tangible fixed assets22/27 | €18,147 | €75,246 | €66,326 | €59,341 | €41,838 | ▼ 29.5% |
| Plant, machinery and equipment23 | €255 | €1,438 | €3,578 | €11,801 | €11,120 | ▼ 5.8% |
| Furniture and vehicles24 | €17,892 | €23,360 | €21,198 | €10,411 | €5,340 | ▼ 48.7% |
| Other tangible fixed assets26 | - | €50,448 | €41,550 | €37,129 | €25,377 | ▼ 31.7% |
| Current assets29/58 | €500,286 | €550,283 | €650,037 | €616,850 | €987,664 | ▲ 60.1% |
| Amounts receivable within one year40/41 | €380,233 | €370,297 | €496,301 | €424,405 | €697,883 | ▲ 64.4% |
| Trade receivables40 | €313,537 | €275,973 | €340,881 | €299,068 | €618,794 | ▲ 107% |
| Other amounts receivable41 | €66,696 | €94,324 | €155,421 | €125,337 | €79,089 | ▼ 36.9% |
| Cash at bank and in hand54/58 | €89,933 | €154,033 | €128,146 | €151,765 | €287,227 | ▲ 89.3% |
| Deferred charges and accrued income490/1 | €30,120 | €25,953 | €25,590 | €40,680 | €2,554 | ▼ 93.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.2m | €716,363 | €676,191 | €1.0m | ▲ 52.3% |
| Equity10/15 | €781,155 | €769,523 | €264,845 | €373,614 | €488,341 | ▲ 30.7% |
| Contributions10/11 | €340,364 | €340,364 | €230,819 | €230,819 | €230,819 | = |
| Reserves13 | €457,799 | €457,799 | €34,026 | €34,026 | €34,026 | = |
| Non-distributable reserves130/1 | €34,026 | €34,026 | €34,026 | €34,026 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €34,026 | €34,026 | €34,026 | €0 | ▼ 100% |
| Other1319 | €34,026 | - | - | - | - | - |
| Tax-exempt reserves132 | €43,262 | €43,262 | €0 | - | - | - |
| Distributable reserves133 | €380,511 | €380,511 | €0 | - | €34,026 | - |
| Profit (loss) carried forward14 | -€17,008 | -€28,640 | €0 | €108,769 | €223,496 | ▲ 105% |
| Provisions and deferred taxes16 | - | - | - | - | €4,416 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €4,416 | - |
| Other liabilities and charges164/5 | - | - | - | - | €4,416 | - |
| Amounts payable17/49 | €472,755 | €443,113 | €451,518 | €302,577 | €536,745 | ▲ 77.4% |
| Amounts payable after more than one year17 | - | - | €50,000 | €0 | - | - |
| Financial debts170/4 | - | - | €50,000 | €0 | - | - |
| Amounts payable within one year42/48 | €472,755 | €443,113 | €401,518 | €302,577 | €536,745 | ▲ 77.4% |
| Trade debts44 | €358,083 | €224,416 | €244,651 | €80,991 | €232,631 | ▲ 187% |
| Suppliers440/4 | €358,083 | €224,416 | €244,651 | €80,991 | €232,631 | ▲ 187% |
| Advances received on contracts in progress46 | - | - | - | - | €2,048 | - |
| Taxes, remuneration and social security45 | €71,472 | €211,198 | €156,867 | €221,587 | €302,067 | ▲ 36.3% |
| Taxes450/3 | €27,839 | €71,503 | €56,766 | €48,906 | €76,251 | ▲ 55.9% |
| Remuneration and social security454/9 | €43,633 | €139,695 | €100,101 | €172,681 | €225,816 | ▲ 30.8% |
| Other amounts payable47/48 | €43,200 | €7,500 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,008 | -€11,632 | -€504,678 | €108,769 | €114,727 | ▲ 5.5% |
| + Depreciation and write-downs630 | €47,608 | €80,348 | €91,886 | €22,964 | €22,179 | ▼ 3.4% |
| Operating cash flow (approximation) | €30,600 | €68,716 | -€412,792 | €131,733 | €136,906 | ▲ 3.9% |
| Investment in fixed assets (approximation) | - | €10,922 | €504,142 | -€15,980 | -€4,676 | ▲ 70.7% |
| Change in cash | - | €64,100 | -€25,887 | €23,619 | €135,461 | ▲ 474% |
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
04-09
State Gazette act
Incorporation · Founder
Bank account · Name clause
14-08
State Gazette act
Other statement · General meeting
Capital increase · Power of attorney
20-07
State Gazette act
General meeting · Name change
Legal-form conversion · Capital conversion
17-07
State Gazette act
General meeting · Incorporation
Other statement · Shareholding
14-07
State Gazette act
Incorporation · Founder
Bank account · Capital
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
06-07
State Gazette act
Incorporation · Founder
Founding capital · Bank account
23-03
State Gazette act
Incorporation · Founder
Founding capital · Bank account · Heike LALOO
2025
31-12
Financial
Highest result since 2021net €114,727 ▲5.5%
Operating result €181,403, net result €114,727, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €108,769
Net result €108,769 after 3 loss-making years.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Show earlier events
2023
31-12
Financial
Weakest financial yearnet -€504,678
Net result drops to -€504,678, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brugge · 1 establishment unit since 2021
Ground area
1,448 m²
Building footprint
842 m²
Volume, LiDAR
4,510 m³
Parcel 31030A0195/00R000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
CBFin
since 20212.318.853.294
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31030A0195/00R000 | Flanders | 1,448 m² | 1 · 842 m² | 8.6 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
Part of the group
ENTERHOLD S.A.
113 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- ENTERHOLD S.A.LU
- BALTISSE
- LPI Holdco
- LPI Maatschap
- PIAGROUP International
- PIA Group BeLux
- CBFin
Highest known parent: ENTERHOLD S.A. (Luxembourg). The sources do not say who stands above it.
Owners 1
-
100%
Stated earlier (1)
An older source named these owners; newer accounts no longer list them.
- Sourceaccounts VVH 2023100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of CBFin 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 20,391 EUR awarded · 21,363 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 3,281 EUR | 3,242 EUR |
| 2024 | 2 | 8,200 EUR | 8,200 EUR |
| 2023 | 2 | 3,524 EUR | 8,220 EUR |
| 2022 | 2 | 5,386 EUR | 1,701 EUR |
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Of 12,174 companies in sector 69201 we hold annual accounts for 7,641. 5,523 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
Founded09-06-2021
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0769509215
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.