CDX
ActiveSummary
CDX has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€415,560) and a net result of -€9,743. Equity is shrinking by about 6.4% per year across the filed financial years. Its solvency ranks better than 5% of 39,137 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
- Equity
- -€415,560
- Loss
- -€9,743
- CREADO Dirk Jan JoannaDirector
- TUYA GerelDirector
Why 54raises riskCapped at 59: negative equityLoss of €9,743, the second in a row (financial year 2025)Negative equity -€415,560lowers riskSize: turnover €18,020, total assets €6,514Sector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 70, micro): better than 3% on solvency, 41% on liquidity, 30% on profitability and 65% on growth.
The bankruptcy probability was computed on 26-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 16 days before the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €9,566 in 2025 against €24,953 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 6,621 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84.4% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 6,621 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €5,677 | €18,020 | ▲ 217% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €21,694 | €22,830 | €21,986 | €21,051 | ▼ 4.3% |
| Gross operating margin9900 | -€6,632 | -€1,558 | €32 | -€3,951 | -€6,491 | -€2,967 | €11,485 | - |
| Operating profit (loss)9901 | -€6,632 | -€4,858 | -€21,793 | -€25,645 | -€29,321 | -€24,953 | -€9,566 | ▲ 61.7% |
| Financial income75/76B | - | - | - | €3,689 | €2,866 | €1,195 | - | - |
| Recurring financial income75 | - | - | €106 | €3,689 | €2,866 | €1,195 | - | - |
| Financial charges65/66B | - | - | - | €2,399 | €2,419 | €1,001 | €47 | ▼ 95.3% |
| Recurring financial charges65 | €1,586 | €1,571 | €1,915 | €2,399 | €2,419 | €1,001 | €47 | ▼ 95.3% |
| Profit (loss) for the period before taxes9903 | -€8,218 | -€6,429 | -€23,602 | -€24,355 | -€28,874 | -€24,759 | -€9,613 | ▲ 61.2% |
| Income taxes67/77 | - | - | €187 | -€151 | €131 | €130 | €130 | = |
| Profit (loss) for the period9904 | -€8,218 | -€6,429 | -€23,789 | -€24,204 | -€29,004 | -€24,889 | -€9,743 | ▲ 60.9% |
| Profit (loss) for the period to be appropriated9905 | -€8,218 | -€6,429 | -€23,789 | -€24,204 | -€29,004 | -€24,889 | -€9,743 | ▲ 60.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €5,603 | €6,063 | €150,565 | €126,514 | €99,979 | €31,199 | €6,514 | ▼ 79.1% |
| Fixed assets21/28 | €2,107 | €2,107 | €86,260 | €64,566 | €52,257 | €29,443 | €6,284 | ▼ 78.7% |
| Tangible fixed assets22/27 | €2,107 | €2,107 | €86,260 | €64,566 | €52,257 | €29,443 | €6,284 | ▼ 78.7% |
| Furniture and vehicles24 | - | - | - | €60,881 | €48,972 | €27,542 | €5,595 | ▼ 79.7% |
| Other tangible fixed assets26 | - | - | - | €3,686 | €3,286 | €1,900 | €690 | ▼ 63.7% |
| Current assets29/58 | €3,496 | €3,956 | €64,305 | €61,947 | €47,722 | €1,757 | €229 | ▼ 87.0% |
| Amounts receivable after more than one year29 | - | - | - | €61,906 | €47,413 | - | - | - |
| Other amounts receivable291 | - | - | - | €61,906 | €47,413 | - | - | - |
| Amounts receivable within one year40/41 | €3,409 | €2,098 | €2,252 | - | €0 | €550 | - | - |
| Other amounts receivable41 | - | - | - | - | €0 | €550 | - | - |
| Cash at bank and in hand54/58 | €87 | €1,857 | €12,322 | €41 | €308 | €1,206 | €146 | ▼ 87.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €83 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €5,603 | €6,063 | €150,565 | €126,514 | €99,979 | €31,199 | €6,514 | ▼ 79.1% |
| Equity10/15 | -€297,277 | -€303,629 | -€327,419 | -€351,622 | -€380,929 | -€405,818 | -€415,560 | ▼ 2.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | €0 | €18,600 | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €0 | €18,600 | - |
| Contributions outside capital11 | - | - | - | - | - | €18,600 | - | - |
| Other1109/19 | - | - | - | - | - | €18,600 | - | - |
| Reserves13 | €232,000 | €232,000 | €232,000 | €232,000 | €232,000 | €232,000 | €232,000 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €230,140 | €232,000 | €232,000 | €232,000 | = |
| Profit (loss) carried forward14 | -€547,877 | -€554,229 | -€578,019 | -€602,222 | -€631,529 | -€656,418 | -€666,160 | ▼ 1.5% |
| Amounts payable17/49 | €302,880 | €309,692 | €477,984 | €478,136 | €480,908 | €437,017 | €422,074 | ▼ 3.4% |
| Amounts payable after more than one year17 | €302,325 | €308,857 | €471,266 | €474,146 | €477,370 | €436,683 | €421,774 | ▼ 3.4% |
| Financial debts170/4 | - | - | - | €474,146 | €477,370 | €436,683 | €421,774 | ▼ 3.4% |
| Amounts payable within one year42/48 | €555 | €835 | €6,718 | €3,990 | €3,537 | €334 | €300 | ▼ 10.2% |
| Trade debts44 | €155 | €835 | €6,718 | €3,990 | €3,537 | €334 | €300 | ▼ 10.2% |
| Suppliers440/4 | - | - | - | €3,990 | €3,537 | €334 | €300 | ▼ 10.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,218 | -€6,429 | -€23,789 | -€24,204 | -€29,004 | -€24,889 | -€9,743 | ▲ 60.9% |
| + Depreciation and write-downs630 | - | - | - | €21,694 | €22,830 | €21,986 | €21,051 | ▼ 4.3% |
| Operating cash flow (approximation) | -€8,218 | -€6,429 | -€23,789 | -€2,510 | -€6,175 | -€2,903 | €11,308 | - |
| Investment in fixed assets (approximation) | - | €0 | -€84,153 | €0 | -€10,521 | €829 | €2,107 | ▲ 154% |
| Change in cash | - | €1,771 | €10,464 | -€12,281 | €267 | €898 | -€1,061 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 09-01-2026 | 2026-00004745 |
| 30-06-2024 | micro format | 14-01-2025 | 2025-00004199 |
| 30-06-2023 | micro format | 06-02-2024 | 2024-00026478 |
| 30-06-2022 | micro format | 06-01-2023 | 2023-20553969 |
| 30-06-2021 | micro format | 07-01-2022 | 2022-00500244 |
| 30-06-2020 | micro format | 12-01-2021 | 2021-00800028 |
| 30-06-2019 | micro format | 17-01-2020 | 2020-01600416 |
| 30-06-2018 | abbreviated format | 03-01-2019 | 2019-00200456 |
| 30-06-2017 | abbreviated format | 11-12-2017 | 2017-71400100 |
| 30-06-2016 | abbreviated format | 16-12-2016 | 2016-70000127 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| CREADO Dirk Jan Joanna |
|
| TUYA Gerel |
|
Owners and capital
Capital and shareholders
- 12-01-2024 Converted to unavailable equity
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
12-01
Gazette deed
Appointments: CREADO Dirk Jan Joanna (statutory director) and TUYA Gerel (director)Resignation: CREADO Dirk Jan Joanna (manager) · Amendment of the articles · Capital conversion12 facts ▸
- General meeting, 23-11-2023
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing van de statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar maken voor uitkering” (deed in Dutch)
- Other provision, “verslag van de zaakvoerder aangaande de wijziging van het maatschappelijk voorwerp, ontslag van de voorzitter van het voorlezen van het verslag” (deed in Dutch)
- Purpose change
- Capital
- Director appointment, CREADO Dirk Jan Joanna (statutory director) (2 times)
- Director resignation, CREADO Dirk Jan Joanna (manager)
- Director appointment, TUYA Gerel (director (not named in the articles))
- Director discharge, CREADO Dirk Jan Joanna (ontslagnemende zaakvoerder)
- Registered office clause, “Celestijnenlaan 49, bus 05.02 te 3001 Heverlee” (deed in Dutch)
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24432D0085/00M000 | Flanders | 2,652 m² | 1 · 540 m² | 19.7 m · 6 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer en het in stand houden van eigen…” (deed in Dutch)
7 activities (deed in Dutch)
- Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer en het in stand houden van eigen onroerende goederen, ondermeer door verhuring en andere overeenkomsten met derden in verband met hun gebruik en genot. De vennootschap mag ondermeer onroerende goederen verwerven, laten bouwen, laten opschikken, laten uitrusten, laten ombouwen, zowel met het oog op verkoop of wederverkoop en met het oog op verhuring onder welke vorm ook; zij mag onroerende goederen vervreemden met het oog op wederbelegging en opbrengst;
- Het verlenen van bijstand en hulp onder hun meest verschillende vormen aan derden, bijvoorbeeld andere vennootschappen en/of eenmanszaken, en dit op het vlak van beheer, de controle, het toezicht, de organisatie, de administratie; het verlenen van adviezen en intellectuele en administratieve hulp, het ter beschikking stellen aan derden onder welke vorm ook van benodigdheden, materieel, instrumenten, hard en software, het uitvoeren in verband met hetgeen voorafgaat van concrete projecten, het dienstbetoon inzake organisatie en toepassing van de meest verschillende wetgevingen, het ter beschikking stellen van management, het uitoefenen van bedrijfsleiding en het organiseren ervan, voor eigen rekening als voor rekening van of in deelneming met derden, van handels-, nijverheids- of andere ondernemingen, bestaande onder om het even welke vorm, en dit zonder enige beperking;
- Het beheer, van alle roerende goederen en waarden, het nemen van belangen, op welke wijze ook, in andere vennootschappen en ondernemingen;
- De uitbating van een detailhandel in kledingaccessoires in gespecialiseerde winkels, een detailhandel in cosmetica en toiletartikelen in gespecialiseerde winkels een kleinhandel in imitatiesieraden, gadgets, enz.;
- Dienstverlening inzake schoonheidsverzorging en het verlenen van advies op het gebied van de schoonheidszorgen en gezichtsverzorging; het aanbrengen van makeup, enz.; evenals inzake huidverzorging, epileren, manicure en pedicure;
- Diensten in verband met het lichamelijk welzijn, zoals verleend in inrichtingen voor thalassotherapie, kuuroorden, Turkse baden, sauna’s, stoombaden, massagesalons, enz.
- Dienstverlening inzake gespecialiseerde voetverzorging.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CDX
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, voor zover dit geen wijziging veroorzaakt inzake het op de vennootschap toepasselijke taalregime” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen, al dan niet aandeelhouder, algemene vergadering” (deed in Dutch)“Algemene kosten, los van representatie-, reis- en verplaatsingskosten, algemene vergadering” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, vruchtgebruiker en blote eigenaar afzonderlijk ingeschreven met vermelding respectievelijke rechten” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of December at 19:00