CEBO
In liquidation since 26-02-2026Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 21-11-2025 PDF all 32 filings
Turnover
≈ €1.8m
Estimated: probably between €1.5m and €2.7m
Total assets
€5.9m▲ 8.6%
2024 · €5.5m
Net result
€594,412▲ 215%
2024 · €188,711
Working capital
€5.9m▲ 19.3%
2024 · €4.9m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€867,081
▲ 263%
2025
20192025
Net result
€594,412
▲ 215%
2025
highest quarter of the sector
20192025
Equity
€5.9m
▲ 11.2%
2025
highest quarter of the sector
20192025
Total assets
€5.9m
▲ 8.6%
2025
highest quarter of the sector
20192025
Debt
€24,820
▼ 83.5%
2025
20192025
Working capital
€5.9m
▲ 19.3%
2025
highest quarter of the sector
20192025
Solvency
99.6%
▲ 2.3pp
2025
highest quarter of the sector
20192025
Current ratio
no figure
2025
20192025
Return on assets (ROA)
10.0%
▲ 6.6pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.8m-€0.7m▼ 21.6%€0.7m▲ 4.7%€0.7m▲ 4.1%€0.5m▼ 31.2%€0.2m▼ 52.2%€0.9m▲ 263%
Net result€0.6m-€0.5mabove the sector's middle half▼ 23.8%€0.5mabove the sector's middle half▲ 9.4%€0.5mabove the sector's middle half▲ 7.0%€0.4mabove the sector's middle half▼ 28.9%€0.2mabove the sector's middle half▼ 50.0%€0.6mabove the sector's middle half▲ 215%
Equity€5.3m-€3.7mabove the sector's middle half▼ 29.4%€4.2mabove the sector's middle half▲ 13.4%€4.7mabove the sector's middle half▲ 12.6%€5.1mabove the sector's middle half▲ 8.0%€5.3mabove the sector's middle half▲ 3.7%€5.9mabove the sector's middle half▲ 11.2%
Total assets€5.5m-€3.8mabove the sector's middle half▼ 30.1%€4.4mabove the sector's middle half▲ 14.5%€4.8mabove the sector's middle half▲ 10.5%€5.3mabove the sector's middle half▲ 10.7%€5.5mabove the sector's middle half▲ 2.3%€5.9mabove the sector's middle half▲ 8.6%
Debt€0.2m-€0.1m▼ 48.0%€0.2m▲ 53.4%€0.08m▼ 47.2%€0.2m▲ 163%€0.2m▼ 31.2%€0.02m▼ 83.5%
Working capital€5.1m-€3.5mabove the sector's middle half▼ 30.3%€4.0mabove the sector's middle half▲ 13.0%€4.5mabove the sector's middle half▲ 11.6%€4.7mabove the sector's middle half▲ 5.2%€4.9mabove the sector's middle half▲ 5.4%€5.9mabove the sector's middle half▲ 19.3%
Solvency96.4%-97.3%above the sector's middle half▲ 0.9pp96.4%above the sector's middle half▼ 0.9pp98.3%above the sector's middle half▲ 1.9pp95.9%above the sector's middle half▼ 2.4pp97.2%above the sector's middle half▲ 1.3pp99.6%above the sector's middle half▲ 2.3pp
Current ratio26.60-35.30above the sector's middle half▲ 8.7026.27above the sector's middle half▼ 9.0354.44above the sector's middle half▲ 28.1722.40above the sector's middle half▼ 32.0433.82above the sector's middle half▲ 11.41
Return on assets (ROA)10.9%-11.9%above the sector's middle half▲ 1.0pp11.4%above the sector's middle half▼ 0.5pp11.0%above the sector's middle half▼ 0.4pp7.1%within the sector's middle half▼ 3.9pp3.5%within the sector's middle half▼ 3.6pp10.0%within the sector's middle half▲ 6.6pp
Staff (FTE)1.4-1.2below the sector's middle half▼ 14.3%0.4below the sector's middle half▼ 66.7%0.1below the sector's middle half▼ 75.0%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 2025 is over 3.6 times that of 2024 and the highest since 2019. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result +215% on 2024. The 2025 profit included a one-off income of €1,176,709.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €5.9m
Equity
€5.9m ▲ 11.2%
Debt
€24,820 ▼ 83.5%
Debt's share of the balance-sheet total falls from 2.8% to 0.4%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.00▼
2024 · 0.03
ROE
10.1%▲
2024 · 3.6%
Debt ≤ 1 year
€24,820▼
2024 · €150,565
Income taxes
€280,581▲
2024 · €90,334
A ratio outside any meaningful range has been withheld (balance sheet total €5.9m, equity €5.9m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 |
|---|---|
| Average over the year, in full-time equivalents | 0.1 |
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2022 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €152,712 | €264,000 | €72,112 | - |
| Depreciation and write-downs of the year | €84,362 | €120,364 | €137,086 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €1,500 awarded · €1,500 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €165 | - | €0.01m | €1.2m | ▲ 105× |
| Remuneration, social security and pensions62 | - | - | - | €0.002m | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.07m | €0.08m | €0.08m | €0.1m | €0.1m | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.003m | €0.002m | €0.002m | ▼ 37.7% |
| Gross operating margin9900 | €1.0m | €0.8m | €0.8m | €0.8m | €0.6m | €0.4m | €0.9m | ▲ 130% |
| Operating profit (loss)9901 | €0.8m | €0.7m | €0.7m | €0.7m | €0.5m | €0.2m | €0.9m | ▲ 263% |
| Financial income75/76B | - | - | - | €0.05m | €0.04m | €0.04m | €0.03m | ▼ 39.5% |
| Recurring financial income75 | €0.06m | €0.03m | €0.03m | €0.05m | €0.04m | €0.04m | €0.03m | ▼ 39.5% |
| Financial charges65/66B | - | - | - | €0.008m | €0.004m | €0.004m | €0.02m | ▲ 338% |
| Recurring financial charges65 | €0.003m | €0.004m | €0.005m | €0.008m | €0.004m | €0.004m | €0.02m | ▲ 338% |
| Profit (loss) for the period before taxes9903 | €0.9m | €0.7m | €0.7m | €0.8m | €0.5m | €0.3m | €0.9m | ▲ 214% |
| Income taxes67/77 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.09m | €0.3m | ▲ 211% |
| Profit (loss) for the period9904 | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | €0.2m | €0.6m | ▲ 215% |
| Profit (loss) for the period to be appropriated9905 | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | €0.2m | €0.6m | ▲ 215% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €5.5m | €3.8m | €4.4m | €4.8m | €5.3m | €5.5m | €5.9m | ▲ 8.6% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.2m | €0.1m | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.2m | €0.2m | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €0.001m | €489 | €0 | €0 | - |
| Financial fixed assets28 | - | - | - | - | - | - | €0 | - |
| Current assets29/58 | €5.3m | €3.6m | €4.1m | €4.5m | €4.9m | €5.1m | €5.9m | ▲ 16.3% |
| Stocks and contracts in progress3 | €0.4m | €0.2m | €0.3m | €0.2m | €0.3m | €0.5m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €0.2m | €0.3m | €0.5m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €2.5m | €0.6m | €1.3m | €0.7m | €1.2m | €0.6m | €1.1m | ▲ 87.0% |
| Trade receivables40 | - | - | - | €0.3m | €0.7m | €0.5m | €1.1m | ▲ 123% |
| Other amounts receivable41 | - | - | - | €0.4m | €0.5m | €0.09m | €0.002m | ▼ 98.4% |
| Current investments50/53 | €1.1m | €1.1m | €1.1m | €1.1m | €1.2m | €1.2m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1.2m | €1.7m | €1.4m | €2.5m | €2.3m | €2.9m | €4.8m | ▲ 68.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €5.5m | €3.8m | €4.4m | €4.8m | €5.3m | €5.5m | €5.9m | ▲ 8.6% |
| Equity10/15 | €5.3m | €3.7m | €4.2m | €4.7m | €5.1m | €5.3m | €5.9m | ▲ 11.2% |
| Contributions10/11 | €2.1m | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €3.2m | €3.6m | €4.1m | €4.7m | €5.1m | €5.2m | €5.8m | ▲ 11.3% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves not available under the articles1311 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €4.5m | €4.8m | €5.0m | €5.6m | ▲ 11.8% |
| Amounts payable17/49 | €0.2m | €0.1m | €0.2m | €0.08m | €0.2m | €0.2m | €0.02m | ▼ 83.5% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.2m | €0.08m | €0.2m | €0.2m | €0.02m | ▼ 83.5% |
| Trade debts44 | €0.2m | €0.1m | €0.1m | €0.07m | €0.2m | €0.1m | €0.006m | ▼ 96.2% |
| Suppliers440/4 | - | - | - | €0.07m | €0.2m | €0.1m | €0.006m | ▼ 96.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.009m | €0 | €334 | €0.02m | ▲ 52× |
| Taxes450/3 | - | - | - | €0.009m | €0 | €334 | €0.02m | ▲ 52× |
| Remuneration and social security454/9 | - | - | - | €0 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.009m | €0.002m | €0.002m | €0.002m | ▼ 7.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | €0.2m | €0.6m | ▲ 215% |
| + Depreciation and write-downs630 | €0.08m | €0.07m | €0.08m | €0.08m | €0.1m | €0.1m | - | - |
| Operating cash flow (approximation) | €0.7m | €0.5m | €0.6m | €0.6m | €0.5m | €0.3m | €0.6m | ▲ 82.4% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.1m | -€0.2m | -€0.3m | -€0.07m | €0.4m | - |
| Change in cash | - | €0.4m | -€0.3m | €1.1m | -€0.2m | €0.6m | €2.0m | ▲ 221% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 21-11-2025 | 2025-00568963 | |
| 30-09-2024 | abbreviated format | 29-04-2025 | 2025-00080045 | |
| 30-09-2023 | abbreviated format | 02-04-2024 | 2024-00054104 | |
| 30-09-2022 | abbreviated format | 28-04-2023 | 2023-00070232 | |
| 30-09-2021 | abbreviated format | 31-03-2022 | 2022-09600346 | |
| 30-09-2020 | abbreviated format | 30-04-2021 | 2021-12600085 | |
| 30-09-2019 | abbreviated format | 30-04-2020 | 2020-10800331 | |
| 30-09-2018 | abbreviated format | 30-04-2019 | 2019-12100360 | |
| 30-09-2017 | abbreviated format | 30-04-2018 | 2018-11700210 | |
| 30-09-2016 | abbreviated format | 23-05-2017 | 2017-12800218 |