CBG
ActiveSummary
CBG has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10,980 and a net result of €8,103. Equity is shrinking by ~96.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 14% of 7586 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+71
Solvency29▲+2
Growth32=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 0.85 in 2024; short-term debt: 80.6% and cash: 10.6% of total assets), and 95.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
4.1%
Return on assets
3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 7586 sector peers (2025).
NBB · sector comparisonPosition among 7586 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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 · 3 filingsDeviation from the deadline
2025
29 d late
2024
61 d late
2023
12 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 26 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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. Usually files around 29 August (3 of the last 3 filed years within 40 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 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 trust this company with building work?Contractor check 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 How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€10,980▲ 282%
2024 · €2,878
Total assets
€266,351▲ 56.0%
2024 · €170,694
Net result
€8,103
2024 · -€29,334
Working capital
€28,678
2024 · -€25,445
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line202320242025
Operating result€37,109--€28,274€12,355
Net result€28,223above the sector's middle half--€29,334below the sector's middle half€8,103within the sector's middle half
Equity€32,211within the sector's middle half-€2,878below the sector's middle half▼ 91.1%€10,980below the sector's middle half▲ 282%
Total assets€175,666within the sector's middle half-€170,694within the sector's middle half▼ 2.8%€266,351within the sector's middle half▲ 56.0%
Debt€143,455-€167,816▲ 17.0%€255,370▲ 52.2%
Working capital€36,107within the sector's middle half--€25,445below the sector's middle half€28,678within the sector's middle half
Solvency18.3%within the sector's middle half-1.7%below the sector's middle half▼ 16.7pp4.1%below the sector's middle half▲ 2.4pp
Current ratio1.29within the sector's middle half-0.85below the sector's middle half▼ 0.441.13within the sector's middle half▲ 0.29
Return on assets (ROA)16.1%within the sector's middle half--17.2%below the sector's middle half▼ 33.3pp3.0%within the sector's middle half▲ 20.2pp
Staff (FTE)1.4-1.9▲ 35.7%
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 returns to profit in 2025: €12,355 after a loss of €28,274 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €266,351
Fixed assets
€23,032 ▼ 20.6%
Current assets
€243,319 ▲ 71.7%
Equity and liabilities €266,351
Equity
€10,980 ▲ 282%
Debt
€255,370 ▲ 52.2%
Debt's share of the balance-sheet total falls from 98.3% to 95.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22,740▲
2024 · -€22,250
Cash flow
€18,488▲
2024 · -€23,310
Debt to equity
23.26▼
2024 · 58.31
ROE
73.8%
Interest coverage
5.77▲
2024 · -20.49
Debt ≤ 1 year
€214,641▲
2024 · €167,121
Income taxes
€320▲
2024 · €8
Staff costs
€1,705▼
2024 · €59,391
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,136 companies that looked in July 2024 the way this one looks now, 4.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
4.9%
went bankrupt
2.0%
stopped otherwise
92%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 2,136 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €42,813 | €59,391 | €1,705 | ▼ 97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,225 | €6,024 | €10,385 | ▲ 72.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €4,688 | - |
| Other operating charges640/8 | €775 | €2,390 | €3,477 | ▲ 45.5% |
| Non-recurring operating charges66A | - | €152 | €1,039 | ▲ 584% |
| Gross operating margin9900 | €82,922 | €39,682 | €33,648 | ▼ 15.2% |
| Operating profit (loss)9901 | €37,109 | -€28,274 | €12,355 | ▲ 144% |
| Financial income75/76B | €10 | €34 | €10 | ▼ 70.0% |
| Recurring financial income75 | €10 | €34 | €10 | ▼ 70.0% |
| Financial charges65/66B | €256 | €1,086 | €3,943 | ▲ 263% |
| Recurring financial charges65 | €256 | €1,086 | €3,943 | ▲ 263% |
| Profit (loss) for the period before taxes9903 | €36,863 | -€29,326 | €8,423 | ▲ 129% |
| Income taxes67/77 | €8,640 | €8 | €320 | ▲ 3,974% |
| Profit (loss) for the period9904 | €28,223 | -€29,334 | €8,103 | ▲ 128% |
| Profit (loss) for the period to be appropriated9905 | €28,223 | -€29,334 | €8,103 | ▲ 128% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €175,666 | €170,694 | €266,351 | ▲ 56.0% |
| Fixed assets21/28 | €13,104 | €29,018 | €23,032 | ▼ 20.6% |
| Tangible fixed assets22/27 | €12,542 | €28,455 | €22,469 | ▼ 21.0% |
| Plant, machinery and equipment23 | - | €6,190 | €5,007 | ▼ 19.1% |
| Furniture and vehicles24 | €12,542 | €22,266 | €17,462 | ▼ 21.6% |
| Financial fixed assets28 | €563 | €563 | €563 | = |
| Current assets29/58 | €162,562 | €141,676 | €243,319 | ▲ 71.7% |
| Amounts receivable within one year40/41 | €118,010 | €100,300 | €213,125 | ▲ 112% |
| Trade receivables40 | €117,702 | €83,903 | €193,133 | ▲ 130% |
| Other amounts receivable41 | €308 | €16,397 | €19,992 | ▲ 21.9% |
| Cash at bank and in hand54/58 | €42,652 | €34,937 | €28,120 | ▼ 19.5% |
| Deferred charges and accrued income490/1 | €1,900 | €6,439 | €2,074 | ▼ 67.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €175,666 | €170,694 | €266,351 | ▲ 56.0% |
| Equity10/15 | €32,211 | €2,878 | €10,980 | ▲ 282% |
| Contributions10/11 | €3,988 | €3,988 | €3,988 | = |
| Profit (loss) carried forward14 | €28,223 | -€1,110 | €6,992 | ▲ 730% |
| Amounts payable17/49 | €143,455 | €167,816 | €255,370 | ▲ 52.2% |
| Amounts payable within one year42/48 | €126,455 | €167,121 | €214,641 | ▲ 28.4% |
| Trade debts44 | €59,746 | €89,981 | €175,814 | ▲ 95.4% |
| Suppliers440/4 | €59,746 | €89,981 | €175,814 | ▲ 95.4% |
| Taxes, remuneration and social security45 | €20,962 | €20,937 | €1,740 | ▼ 91.7% |
| Taxes450/3 | €10,242 | €9,890 | €1,740 | ▼ 82.4% |
| Remuneration and social security454/9 | €10,720 | €11,047 | - | - |
| Other amounts payable47/48 | €45,747 | €56,203 | €37,088 | ▼ 34.0% |
| Accrued charges and deferred income492/3 | €17,000 | €695 | €40,729 | ▲ 5,760% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,223 | -€29,334 | €8,103 | ▲ 128% |
| + Depreciation and write-downs630 | €2,225 | €6,024 | €10,385 | ▲ 72.4% |
| Operating cash flow (approximation) | €30,449 | -€23,310 | €18,488 | ▲ 179% |
| Investment in fixed assets (approximation) | - | -€21,938 | -€4,399 | ▲ 79.9% |
| Change in cash | - | -€7,715 | -€6,817 | ▲ 11.6% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
31-12
Financial
Back to profitnet €8,103
Net result €8,103 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet -€29,334
Net result drops to -€29,334, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Nivelles · 1 establishment unit since 2023
Ground area
1.1 ha
Building footprint
4,675 m²
Volume, LiDAR
32,982 m³
2 parcels, Wallonia · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
CBG
since 20232.349.441.057
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0576/00B010 | Wallonia | 6,400 m² | 1 · 4,674 m² | 8.3 m · 2 fl. |
| 25782C0576/00C010 | Wallonia | 5,056 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
WAT ETS
BE 0784.241.535
Engis · Eq €10,983
FBC
BE 0740.548.676
Dalhem · Eq €10,970
KJUB SERVICES
BE 0767.767.965
Neufchâteau · Eq €10,969
WHITE ROCK
BE 0790.540.397
Grimbergen · Eq €10,967
Bouwwerken Thaens
BE 0785.489.469
Bree · Eq €10,995
Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 9,629 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded21-03-2023
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43990Other specialised construction activities
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0799741046
Also
9925:BE0799741046
Registered
13-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.