CCL MODE
ActiveSummary
CCL MODE has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €387,859 and a net result of €13,742. Equity is shrinking by ~28.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 49% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-1
Solvency61▲+47
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24,000 at 30 days acceptable
Liquidity short (current ratio 0.82 against 0.12 in 2024; short-term debt: 63.9% and cash: 5.4% of total assets), and 63.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
36.1%
Return on assets
1.3%
Age of the figures
9 mo
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
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
37 d early
2023
33 d early
2022
7 d early
2021
5 d early
2020
4 d early
2019
19 d late
← 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 14 days before 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€0
2020 · €0
EBIT margin
Not included in this filing
Net result
€13,742▲ 171%
2024 · €5,066
Working capital
-€121,941▲ 49.7%
2024 · -€242,669
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Turnover€0
Operating result-€10,283▲ 49.7%-€3,505▲ 65.9%-€6,175▼ 76.2%€6,316€17,058▲ 170%
Net result-€10,281below the sector's middle half▲ 48.3%-€4,753below the sector's middle half▲ 53.8%-€7,449below the sector's middle half▼ 56.7%€5,066within the sector's middle half€13,742within the sector's middle half▲ 171%
Equity-€20,455below the sector's middle half▼ 101%-€25,207below the sector's middle half▼ 23.2%-€32,657below the sector's middle half▼ 29.6%-€27,591below the sector's middle half▲ 15.5%€387,859within the sector's middle half
Total assets€106,353below the sector's middle half▲ 575%€104,840below the sector's middle half▼ 1.4%€93,457below the sector's middle half▼ 10.9%€248,356below the sector's middle half▲ 166%€1.1mwithin the sector's middle half▲ 332%
Debt€126,808▲ 389%€130,047▲ 2.6%€126,114▼ 3.0%€275,947▲ 119%€686,189▲ 149%
Working capital-€47,061▼ 363%-€48,744▼ 3.6%-€53,123▼ 9.0%-€242,669▼ 357%-€121,941▲ 49.7%
Solvency-19.2%below the sector's middle half▲ 45.4pp-24.0%below the sector's middle half▼ 4.8pp-34.9%below the sector's middle half▼ 10.9pp-11.1%below the sector's middle half▲ 23.8pp36.1%within the sector's middle half▲ 47.2pp
Staff (FTE)0below the sector's middle half▼ 100%0below the sector's middle half0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Total assets +332% on 2024. Merger absorbing Société absorbée, effective 01-10-2025.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 170% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€509,800 ▲ 137%
Current assets
€564,248 ▲ 1,596%
Equity and liabilities €1.1m
Equity
€387,859
Debt
€686,189
Debt finances 63.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€50,126▲
2024 · €11,705
Cash flow
€46,810▲
2024 · €10,455
Current ratio
0.82▲
2024 · 0.12
Debt to equity
1.77▲
2024 · -10.00
ROE
3.5%
ROA
1.3%▼
2024 · 2.0%
Interest coverage
15.11▲
2024 · 9.36
Debt ≤ 1 year
€686,189▲
2024 · €275,947
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,045 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.0% 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 6,045 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | €0 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €0 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,338 | €3,070 | €3,070 | €5,389 | €33,068 | ▲ 514% |
| Other operating charges640/8 | €30 | - | - | - | €242 | - |
| Gross operating margin9900 | -€7,915 | -€435 | -€3,105 | €11,705 | €50,369 | ▲ 330% |
| Operating profit (loss)9901 | -€10,283 | -€3,505 | -€6,175 | €6,316 | €17,058 | ▲ 170% |
| Financial income75/76B | €1 | €2 | €0 | - | - | - |
| Recurring financial income75 | €1 | €2 | €0 | - | - | - |
| Financial charges65/66B | - | €1,250 | €1,274 | €1,250 | €3,317 | ▲ 165% |
| Recurring financial charges65 | - | €1,250 | €1,274 | €1,250 | €3,317 | ▲ 165% |
| Profit (loss) for the period before taxes9903 | -€10,281 | -€4,753 | -€7,449 | €5,066 | €13,742 | ▲ 171% |
| Profit (loss) for the period9904 | -€10,281 | -€4,753 | -€7,449 | €5,066 | €13,742 | ▲ 171% |
| Profit (loss) for the period to be appropriated9905 | -€10,281 | -€4,753 | -€7,449 | €5,066 | €13,742 | ▲ 171% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €106,353 | €104,840 | €93,457 | €248,356 | €1.1m | ▲ 332% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €26,606 | €23,536 | €20,467 | €215,078 | €509,800 | ▲ 137% |
| Intangible fixed assets21 | €25,743 | €22,960 | €20,177 | €214,935 | €182,152 | ▼ 15.3% |
| Tangible fixed assets22/27 | €863 | €576 | €290 | €143 | €648 | ▲ 354% |
| Furniture and vehicles24 | €863 | €576 | €290 | €143 | €648 | ▲ 354% |
| Financial fixed assets28 | - | - | - | - | €327,000 | - |
| Current assets29/58 | €79,747 | €81,303 | €72,991 | €33,279 | €564,248 | ▲ 1,596% |
| Amounts receivable within one year40/41 | €16,003 | €12,340 | €13,919 | €28,424 | €505,462 | ▲ 1,678% |
| Trade receivables40 | €3,549 | €5,167 | €6,332 | €24,090 | €16,932 | ▼ 29.7% |
| Other amounts receivable41 | €12,454 | €7,173 | €7,587 | €4,334 | €488,530 | ▲ 11,172% |
| Cash at bank and in hand54/58 | €63,744 | €68,963 | €59,072 | €4,610 | €58,111 | ▲ 1,161% |
| Deferred charges and accrued income490/1 | - | - | - | €245 | €676 | ▲ 176% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €106,353 | €104,840 | €93,457 | €248,356 | €1.1m | ▲ 332% |
| Equity10/15 | -€20,455 | -€25,207 | -€32,657 | -€27,591 | €387,859 | ▲ 1,506% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €73,600 | ▲ 296% |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€40,915 | -€45,667 | -€53,117 | -€48,051 | €312,399 | ▲ 750% |
| Amounts payable17/49 | €126,808 | €130,047 | €126,114 | €275,947 | €686,189 | ▲ 149% |
| Amounts payable within one year42/48 | €126,808 | €130,047 | €126,114 | €275,947 | €686,189 | ▲ 149% |
| Current portion of amounts payable after more than one year42 | €125,000 | €125,000 | €125,000 | €125,000 | €76,313 | ▼ 39.0% |
| Trade debts44 | €1,808 | €47 | €1,114 | €947 | €5,007 | ▲ 429% |
| Suppliers440/4 | €1,808 | €47 | €1,114 | €947 | €5,007 | ▲ 429% |
| Taxes, remuneration and social security45 | €0 | - | - | - | €2,021 | - |
| Taxes450/3 | €0 | - | - | - | €2,021 | - |
| Other amounts payable47/48 | €0 | €5,000 | €0 | €150,000 | €602,848 | ▲ 302% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,281 | -€4,753 | -€7,449 | €5,066 | €13,742 | ▲ 171% |
| + Depreciation and write-downs630 | €2,338 | €3,070 | €3,070 | €5,389 | €33,068 | ▲ 514% |
| Operating cash flow (approximation) | -€7,943 | -€1,683 | -€4,379 | €10,455 | €46,810 | ▲ 348% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€200,000 | -€327,790 | ▼ 63.9% |
| Change in cash | - | €5,219 | -€9,892 | -€54,462 | €53,501 | ▲ 198% |
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
23-07
State Gazette act
Appointments: Thiry Pierre-Antoine, Thiry Géraldine and 3 others6 facts ▸
State Gazette act
Appointments: Thiry Pierre-Antoine, Thiry Géraldine and 3 others
6 facts ▸
- General meeting, 02-02-2026
- Director appointment, Thiry Pierre-Antoine (daily management delegate)
- Director appointment, Thiry Géraldine (daily management delegate)
- Director appointment, Thiry Gwennaëlle (daily management delegate)
- Director appointment, Thiry Amandine (daily management delegate)
- Director appointment, Thiry Michel (daily management delegate)
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
04-02
State Gazette act
Restructuring · End & cessationMerger · Dissolution · Share issue6 facts ▸
State Gazette act
Restructuring · End & cessation
Merger · Dissolution · Share issue6 facts ▸
- General meeting, 01-10-2025
- Merger, absorption, 01-10-2025
- Dissolution, 01-10-2025
- Share issue, 7649, fusion
- Share cancellation, fusion
- Power of attorney, CCL MODE
2025
31-12
Financial
Highest result since 2018net €13,742 ▲171%
Operating result €17,058, net result €13,742, both a record.
31-12
Financial
Equity above €200,000Eq €387,859
2 profitable years in a row build equity to €387,859.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €5,066
Net result €5,066 after 5 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€19,872
Net result drops to -€19,872, the lowest in the series; recovery starts the following year.
Show earlier events
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 19 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 2 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26094962). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Day-to-day management 5
Amandine THIRY
CurrentDaily management delegate · since 02-02-2026
Géraldine Thiry
CurrentDaily management delegate · since 02-02-2026
Pierre-Antoine THIRY
CurrentDaily management delegate · since 02-02-2026
Thiry Gwennaëlle
CurrentDaily management delegate · since 02-02-2026
Thiry Michel
CurrentDaily management delegate · since 02-02-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Visé · 2 establishment units since 2014
Ground area
1,532 m²
Building footprint
1,083 m²
Volume, LiDAR
6,208 m³
2 parcels, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
COLOR CODE
since 20142.228.108.212
T MANAGEMENT
since 20252.383.009.490
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63048G0001/00C000 | Wallonia | 962 m² | 1 · 506 m² | 8.5 m · 2 fl. |
| 62108B0131/00Y000 | Wallonia | 570 m² | 1 · 577 m² | 7.8 m · 2 fl. |
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.
Mandate history
5 people since 2026, 5 in office
- Day-to-day management
| Name | Functions and periods |
|---|---|
| Amandine THIRY |
|
| Géraldine Thiry |
|
| Pierre-Antoine THIRY |
|
| Thiry Gwennaëlle |
|
| Thiry Michel |
|
Structure & network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
L'Observatoire du Crédit et de l'Endettement
via Géraldine Thiry · Director
→
Acquisitions and mergers
1 transactionTook over:Société absorbée
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Of 2,215 companies in sector 47711 we hold annual accounts for 888. 555 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
Founded28-02-2014
Fiscal year end31-12
Activities, NACEBEL 2025
47711Retail sale of women's outerwear
47722Retail trade
Contact
Phone
0496/267929Lontzen
E-invoicing
Reachable via Peppol
Peppol ID
0208:0547574304
Also
9925:BE0547574304
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.