Cdr
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 28-07-2025 PDF all 28 filings
Turnover
≈ €100,000
Estimated: probably between €59,000 and €210,000
Total assets
€22,542▲ 6.2%
2023 · €21,233
Net result
€6,036▼ 15.2%
2023 · €7,118
Working capital
€11,762▲ 49.5%
2023 · €7,870
In the rankings
#7 oldest company in Villers-la-Ville, Construction sector
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€7,725
▼ 17.2%
2024
20182024
Net result
€6,036
▼ 15.2%
2024
middle half of the sector
20182024
Equity
€13,662
▲ 79.2%
2024
lowest quarter of the sector
20182024
Total assets
€22,542
▲ 6.2%
2024
lowest quarter of the sector
20182024
Debt
€8,880
▼ 34.7%
2024
20182024
Working capital
€11,762
▲ 49.5%
2024
middle half of the sector
20182024
Solvency
60.6%
▲ 24.7pp
2024
middle half of the sector
20182024
Current ratio
2.64
▲ 0.72
2024
middle half of the sector
20182024
Return on assets (ROA)
26.8%
▼ 6.7pp
2024
highest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€2,340-€1,833-€1,280€3,819-€14,180€9,331€7,725▼ 17.2%
Net result-€2,648-€423-€2,006below the sector's middle half€2,909within the sector's middle half-€14,990below the sector's middle half€7,118within the sector's middle half€6,036within the sector's middle half▼ 15.2%
Equity€14,171-€14,594▲ 3.0%€12,589below the sector's middle half▼ 13.7%€15,498below the sector's middle half▲ 23.1%€508below the sector's middle half▼ 96.7%€7,626below the sector's middle half▲ 15×€13,662below the sector's middle half▲ 79.2%
Total assets€35,893-€19,681▼ 45.2%€74,604within the sector's middle half▲ 279%€19,818below the sector's middle half▼ 73.4%€18,418below the sector's middle half▼ 7.1%€21,233below the sector's middle half▲ 15.3%€22,542below the sector's middle half▲ 6.2%
Debt€21,722-€5,087▼ 76.6%€62,015▲ 12×€4,320▼ 93.0%€17,910▲ 315%€13,607▼ 24.0%€8,880▼ 34.7%
Working capital€10,985-€8,232▼ 25.1%€7,688within the sector's middle half▼ 6.6%€10,838within the sector's middle half▲ 41.0%€2,750below the sector's middle half▼ 74.6%€7,870within the sector's middle half▲ 186%€11,762within the sector's middle half▲ 49.5%
Solvency39.5%-74.2%▲ 34.7pp16.9%below the sector's middle half▼ 57.3pp78.2%above the sector's middle half▲ 61.3pp2.8%below the sector's middle half▼ 75.4pp35.9%within the sector's middle half▲ 33.2pp60.6%within the sector's middle half▲ 24.7pp
Current ratio1.66-2.62▲ 0.961.12within the sector's middle half▼ 1.493.51above the sector's middle half▲ 2.381.29within the sector's middle half▼ 2.221.92within the sector's middle half▲ 0.632.64within the sector's middle half▲ 0.72
Return on assets (ROA)-7.4%-2.1%▲ 9.5pp-2.7%below the sector's middle half▼ 4.8pp14.7%within the sector's middle half▲ 17.4pp-81.4%below the sector's middle half▼ 96.1pp33.5%above the sector's middle half▲ 114.9pp26.8%above the sector's middle half▼ 6.7pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is 17% lower than in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €22,542
Fixed assets
€3,608 ▼ 24.9%
Current assets
€18,934 ▲ 15.3%
Equity and liabilities €22,542
Equity
€13,662 ▲ 79.2%
Debt
€8,880 ▼ 34.7%
Debt's share of the balance-sheet total falls from 64.1% to 39.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,477▼
2023 · €10,904
Cash flow
€7,788▼
2023 · €8,691
Debt to equity
0.65▼
2023 · 1.78
ROE
44.2%▼
2023 · 93.3%
Interest coverage
18.61▼
2023 · 22.09
Debt ≤ 1 year
€7,172▼
2023 · €8,557
Debt > 1 year
€1,708▼
2023 · €5,050
Income taxes
€1,294▲
2023 · €132
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €1,059 | €2,691 | €322 | €554 |
| Depreciation and write-downs of the year | €1,300 | €1,294 | €1,573 | €1,752 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €141 | €154 | €69 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,251 | €1,974 | €1,461 | €1,300 | €1,294 | €1,573 | €1,752 | ▲ 11.4% |
| Other operating charges640/8 | - | - | - | €1,104 | €558 | €665 | €581 | ▼ 12.7% |
| Non-recurring operating charges66A | - | - | - | €18 | - | - | - | - |
| Gross operating margin9900 | €6,364 | €5,161 | €959 | €6,381 | -€12,175 | €11,638 | €10,058 | ▼ 13.6% |
| Operating profit (loss)9901 | -€2,340 | €1,833 | -€1,280 | €3,819 | -€14,180 | €9,331 | €7,725 | ▼ 17.2% |
| Financial income75/76B | - | - | - | €30 | €0 | €5 | €114 | ▲ 21× |
| Recurring financial income75 | €105 | €18 | €23 | €30 | €0 | €5 | €114 | ▲ 21× |
| Financial charges65/66B | - | - | - | €225 | €517 | €2,086 | €509 | ▼ 75.6% |
| Recurring financial charges65 | €413 | €382 | €462 | €225 | €517 | €494 | €509 | ▲ 3.2% |
| Non-recurring financial charges66B | - | - | - | - | - | €1,593 | - | - |
| Profit (loss) for the period before taxes9903 | -€2,648 | €1,469 | -€1,718 | €3,624 | -€14,696 | €7,250 | €7,330 | ▲ 1.1% |
| Income taxes67/77 | - | €1,046 | €287 | €715 | €293 | €132 | €1,294 | ▲ 884% |
| Profit (loss) for the period9904 | -€2,648 | €423 | -€2,006 | €2,909 | -€14,990 | €7,118 | €6,036 | ▼ 15.2% |
| Profit (loss) for the period to be appropriated9905 | -€2,648 | €423 | -€2,006 | €2,909 | -€14,990 | €7,118 | €6,036 | ▼ 15.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €35,893 | €19,681 | €74,604 | €19,818 | €18,418 | €21,233 | €22,542 | ▲ 6.2% |
| Fixed assets21/28 | €8,337 | €6,362 | €4,901 | €4,659 | €6,057 | €4,806 | €3,608 | ▼ 24.9% |
| Tangible fixed assets22/27 | €7,824 | €5,849 | €4,388 | €4,146 | €5,543 | €4,293 | €3,095 | ▼ 27.9% |
| Plant, machinery and equipment23 | - | - | - | €536 | €402 | €268 | €134 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €1,779 | €3,768 | €3,109 | €2,503 | ▼ 19.5% |
| Other tangible fixed assets26 | - | - | - | €1,832 | €1,374 | €916 | €458 | ▼ 50.0% |
| Financial fixed assets28 | €513 | €513 | €513 | €513 | €513 | €513 | €513 | = |
| Current assets29/58 | €27,557 | €13,319 | €69,703 | €15,158 | €12,361 | €16,427 | €18,934 | ▲ 15.3% |
| Amounts receivable within one year40/41 | €19,072 | €9,620 | €60,661 | €12,643 | €4,799 | €7,850 | €13,510 | ▲ 72.1% |
| Trade receivables40 | - | - | - | €5,266 | €4,420 | €7,850 | €8,869 | ▲ 13.0% |
| Other amounts receivable41 | - | - | - | €7,377 | €379 | - | €4,641 | - |
| Cash at bank and in hand54/58 | €7,900 | €2,296 | €9,042 | €2,515 | €7,030 | €8,447 | €5,007 | ▼ 40.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €532 | €131 | €418 | ▲ 220% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €35,893 | €19,681 | €74,604 | €19,818 | €18,418 | €21,233 | €22,542 | ▲ 6.2% |
| Equity10/15 | €14,171 | €14,594 | €12,589 | €15,498 | €508 | €7,626 | €13,662 | ▲ 79.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €396 | €396 | €396 | €396 | €396 | €396 | €396 | = |
| Non-distributable reserves130/1 | - | - | - | €396 | €396 | €396 | €396 | = |
| Reserves not available under the articles1311 | - | - | - | €396 | €396 | €396 | €396 | = |
| Profit (loss) carried forward14 | -€4,825 | -€4,402 | -€6,407 | -€3,498 | -€18,488 | -€11,370 | -€5,334 | ▲ 53.1% |
| Amounts payable17/49 | €21,722 | €5,087 | €62,015 | €4,320 | €17,910 | €13,607 | €8,880 | ▼ 34.7% |
| Amounts payable after more than one year17 | €5,151 | - | - | - | €8,298 | €5,050 | €1,708 | ▼ 66.2% |
| Financial debts170/4 | - | - | - | - | €8,298 | €5,050 | €1,708 | ▼ 66.2% |
| Amounts payable within one year42/48 | €16,571 | €5,087 | €62,015 | €4,320 | €9,611 | €8,557 | €7,172 | ▼ 16.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €3,157 | €3,248 | €3,342 | ▲ 2.9% |
| Financial debts43 | - | - | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0 | - | - | - | - |
| Trade debts44 | €12,071 | €1,752 | €58,365 | €1,604 | €3,260 | €932 | €2,284 | ▲ 145% |
| Suppliers440/4 | - | - | - | €1,604 | €3,260 | €932 | €2,284 | ▲ 145% |
| Taxes, remuneration and social security45 | - | - | - | €2,503 | €1,864 | €3,454 | €1,526 | ▼ 55.8% |
| Taxes450/3 | - | - | - | €2,503 | €1,864 | €3,454 | €1,526 | ▼ 55.8% |
| Other amounts payable47/48 | - | - | - | €212 | €1,331 | €923 | €20 | ▼ 97.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,648 | €423 | -€2,006 | €2,909 | -€14,990 | €7,118 | €6,036 | ▼ 15.2% |
| + Depreciation and write-downs630 | €7,251 | €1,974 | €1,461 | €1,300 | €1,294 | €1,573 | €1,752 | ▲ 11.4% |
| Operating cash flow (approximation) | €4,603 | €2,397 | -€545 | €4,210 | -€13,696 | €8,691 | €7,788 | ▼ 10.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,059 | -€2,691 | -€322 | -€554 | ▼ 71.9% |
| Change in cash | - | -€5,604 | €6,746 | -€6,527 | €4,515 | €1,417 | -€3,440 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as Cdr has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Cdr itself is higher: 0.9% within 12 months. It rests on far more data about Cdr than the profile alone.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for Cdr. 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.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 28-07-2025 | 2025-00349222 | |
| 31-12-2023 | micro format | 08-10-2024 | 2024-00503880 | |
| 31-12-2022 | micro format | 09-10-2023 | 2023-00486497 | |
| 31-12-2021 | micro format | 26-10-2022 | 2022-20474577 | |
| 31-12-2020 | micro format | 29-10-2021 | 2021-75500007 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66500315 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-55700358 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-25000385 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-55200301 | |
| 31-12-2015 | full format | 09-08-2016 | 2016-41900237 |