Cecan
ActiveSummary
Cecan has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €216.5m and a net result of €25.8m. Equity is growing by ~8.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-35
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.84 against 0.07 in 2024; short-term debt: 4% and cash: 1% of total assets), and 8.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
91.8%
Return on assets
10.9%
Age of the figures
9 mo
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 27-05-2026, 65 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
65 d early
2024
66 d early
2023
57 d early
2022
62 d early
2021
51 d early
2020
60 d early
2019
64 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 61 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 30 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€216.5m▲ 11.2%
2024 · €194.7m
Total assets
€235.9m▲ 1.6%
2024 · €232.2m
Net result
€25.8m▼ 75.0%
2024 · €103.2m
Working capital
-€1.5m▲ 95.0%
2024 · -€30.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€464,984▼ 43.3%-€406,677▲ 12.5%-€418,009▼ 2.8%-€720,130▼ 72.3%-€851,222▼ 18.2%
Net result€5.1m▲ 465%€12.0m▲ 136%€7.5m▼ 37.7%€103.2m▲ 1,284%€25.8m▼ 75.0%
Equity€83.9m▲ 1.8%€92.1m▲ 9.7%€95.5m▲ 3.8%€194.7m▲ 104%€216.5m▲ 11.2%
Total assets€107.9m▲ 3.8%€116.5m▲ 7.9%€119.9m▲ 2.9%€232.2m▲ 93.7%€235.9m▲ 1.6%
Debt€24.0m▲ 11.7%€24.4m▲ 1.7%€24.4m▼ 0.2%€37.5m▲ 53.9%€19.4m▼ 48.3%
Working capital€14.1m▲ 11.9%€7.3m▼ 48.2%€5.8m▼ 21.1%-€30.3m-€1.5m▲ 95.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €851,222 in 2025 against €720,130 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €235.9m
Fixed assets
€228.1m ▼ 0.9%
Current assets
€7.8m ▲ 272%
Equity and liabilities €235.9m
Equity
€216.5m ▲ 11.2%
Debt
€19.4m ▼ 48.3%
Debt's share of the balance-sheet total falls from 16.1% to 8.2%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
0.84▲
2024 · 0.07
Debt to equity
0.09▼
2024 · 0.19
ROE
11.9%▼
2024 · 53.0%
ROA
10.9%▼
2024 · 44.4%
Debt ≤ 1 year
€9.3m▼
2024 · €32.4m
Debt > 1 year
€10.0m▲
2024 · €5.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €420,660 | - | - | - | - | - |
| Other operating charges640/8 | €44,324 | €16,188 | €20,223 | €19,439 | €12,419 | ▼ 36.1% |
| Gross operating margin9900 | -€420,660 | -€390,489 | -€397,786 | -€700,691 | -€838,803 | ▼ 19.7% |
| Operating profit (loss)9901 | -€464,984 | -€406,677 | -€418,009 | -€720,130 | -€851,222 | ▼ 18.2% |
| Financial income75/76B | €5.8m | €12.6m | €8.1m | €104.2m | €27.3m | ▼ 73.8% |
| Recurring financial income75 | €5.8m | €12.6m | €8.1m | €9.0m | €23.7m | ▲ 162% |
| Non-recurring financial income76B | - | - | - | €95.1m | €3.6m | ▼ 96.2% |
| Financial charges65/66B | €233,146 | €264,909 | €224,103 | €280,663 | €634,689 | ▲ 126% |
| Recurring financial charges65 | €233,146 | €264,909 | €224,103 | €280,663 | €634,689 | ▲ 126% |
| Profit (loss) for the period before taxes9903 | €5.1m | €12.0m | €7.5m | €103.2m | €25.8m | ▼ 75.0% |
| Profit (loss) for the period9904 | €5.1m | €12.0m | €7.5m | €103.2m | €25.8m | ▼ 75.0% |
| Profit (loss) for the period to be appropriated9905 | €5.1m | €12.0m | €7.5m | €103.2m | €25.8m | ▼ 75.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107.9m | €116.5m | €119.9m | €232.2m | €235.9m | ▲ 1.6% |
| Fixed assets21/28 | €90.0m | €104.9m | €104.9m | €230.1m | €228.1m | ▼ 0.9% |
| Financial fixed assets28 | €90.0m | €104.9m | €104.9m | €230.1m | €228.1m | ▼ 0.9% |
| Current assets29/58 | €17.9m | €11.5m | €14.9m | €2.1m | €7.8m | ▲ 272% |
| Amounts receivable within one year40/41 | €7.5m | €3.0m | €1.5m | €1.8m | €5.5m | ▲ 199% |
| Other amounts receivable41 | €7.5m | €3.0m | €1.5m | €1.8m | €5.5m | ▲ 199% |
| Current investments50/53 | - | - | €11.5m | - | - | - |
| Cash at bank and in hand54/58 | €10.4m | €8.6m | €1.9m | €273,679 | €2.4m | ▲ 761% |
| Deferred charges and accrued income490/1 | €25,924 | - | €2,848 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107.9m | €116.5m | €119.9m | €232.2m | €235.9m | ▲ 1.6% |
| Equity10/15 | €83.9m | €92.1m | €95.5m | €194.7m | €216.5m | ▲ 11.2% |
| Contributions10/11 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Capital10 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Issued capital100 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €59.3m | €59.3m | €59.3m | €59.3m | €59.3m | = |
| Non-distributable reserves130/1 | €153,299 | €153,299 | €153,299 | €153,299 | €153,299 | = |
| Legal reserve130 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Other1319 | €28,299 | €28,299 | €28,299 | €28,299 | €28,299 | = |
| Distributable reserves133 | €59.2m | €59.2m | €59.2m | €59.2m | €59.2m | = |
| Profit (loss) carried forward14 | €23.4m | €31.5m | €34.9m | €134.1m | €155.9m | ▲ 16.3% |
| Amounts payable17/49 | €24.0m | €24.4m | €24.4m | €37.5m | €19.4m | ▼ 48.3% |
| Amounts payable after more than one year17 | €20.0m | €20.0m | €15.0m | €5.0m | €10.0m | ▲ 100% |
| Financial debts170/4 | €20.0m | €20.0m | €15.0m | - | €10.0m | - |
| Other amounts payable178/9 | - | - | - | €5.0m | - | - |
| Amounts payable within one year42/48 | €3.8m | €4.2m | €9.2m | €32.4m | €9.3m | ▼ 71.1% |
| Current portion of amounts payable after more than one year42 | - | - | €5.0m | €15.0m | €2.0m | ▼ 86.7% |
| Trade debts44 | €220,149 | €376,424 | €174,826 | €674,281 | €338,343 | ▼ 49.8% |
| Suppliers440/4 | €220,149 | €376,424 | €174,826 | €674,281 | €338,343 | ▼ 49.8% |
| Other amounts payable47/48 | €3.6m | €3.9m | €4.0m | €16.7m | €7.0m | ▼ 58.0% |
| Accrued charges and deferred income492/3 | €174,417 | €173,979 | €175,310 | €122,938 | €35,443 | ▼ 71.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5.1m | €12.0m | €7.5m | €103.2m | €25.8m | ▼ 75.0% |
| Operating cash flow (approximation) | €5.1m | €12.0m | €7.5m | €103.2m | €25.8m | ▼ 75.0% |
| Investment in fixed assets (approximation) | - | -€14.9m | €0 | -€125.1m | €2.0m | ▲ 102% |
| Change in cash | - | -€1.8m | -€6.7m | -€1.6m | €2.1m | ▲ 231% |
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
10-06
State Gazette act
Reappointment: E&Y Bedrijfsrevisoren (statutory auditor)2 facts ▸
State Gazette act
Reappointment: E&Y Bedrijfsrevisoren (statutory auditor)
2 facts ▸
- General meeting, 04-05-2026
- Auditor reappointment, E&Y Bedrijfsrevisoren (statutory auditor)
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €103.2m ▲1,284%
Net result €103.2m, the highest in the series.
31-12
Financial
Equity above €100mEq €194.7m ▲104%
7 profitable years in a row build equity to €194.7m.
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €898,924 ▼76.4%
Net result drops to €898,924, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 6current ratio 10.44
Current ratio from 1.87 to 10.44; short-term debt falls from €4.7m to €1.3m.
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Liquidity doublescurrent ratio 1.87
Current ratio from 0.80 to 1.87; short-term debt falls from €6.9m to €4.7m.
21-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
11-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
Ernst et Young Reviseurs d'Entreprises
CurrentStatutory auditor · since 04-05-2026 · perm. rep.: Francis Boelens
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 →
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 1977
Ground area
4,066 m²
Building footprint
252 m²
Volume, LiDAR
3,461 m³
Parcel 34354C0020/00T009, Flanders · tallest building 17.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
CECAN
since 19772.038.082.737
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354C0020/00T009 | Flanders | 4,066 m² | 1 · 252 m² | 17.2 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Ernst et Young Reviseurs d'Entreprises |
|
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
99.99%
According to the 2025 annual accounts of Cecan and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
549300WI8FJ8DO730782
Identification & contact
Identification
Legal formPublic limited company
Founded25-11-1976
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
2 convocationsGeneral meeting
Agenda
1. Goedkeuring jaarrekening 31/12/2012. 2. Bestemming resultaat. 3. Uitkering dividend uit beschikbare reserves. 4. Kwijting bestuurders en commissaris. 5. Varia.
Extraordinary general meeting
Uitkering tussentijds dividend.