CEDAU · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of CEDAU is 0.7% (low). The 2024 annual accounts show equity of €140k and a net result of €-15k. Equity is shrinking by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 70% of 425 sector peers (fiscal year 2024). The company has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Signals

1 signal · with evidence

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 14 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-08-2025, 8 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	08-08-2025	8 d late	2025-00374474
31-12-2023	31-07-2024	14-08-2024	14 d late	2024-00345595
31-12-2022	31-07-2023	28-08-2023	28 d late	2023-00429583
31-12-2021	31-07-2022	12-08-2022	12 d late	2022-20285251
31-12-2020	31-07-2021	17-08-2021	17 d late	2021-49600447
31-12-2019	31-07-2020	28-08-2020	28 d late	2020-45700400
31-12-2018	31-07-2019	31-08-2019	31 d late	2019-61700333
31-12-2017	31-07-2018	28-08-2018	28 d late	2018-50700231
31-12-2016	31-07-2017	30-08-2017	30 d late	2017-50500082
31-12-2015	31-07-2016	30-08-2016	30 d late	2016-52700479

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 1994, 32 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.7% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Long track record −Lower-risk legal form −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€-15k-28.7%

Working capital€-39k+28.3%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 08-08-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Net result: declining trend of ~35.9%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 52 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	55.2%	30.3%	better than 70% of 425 sector peers
Net result	€-15k	€7k	better than 14% of 425 sector peers
Equity	€140k	€24k	better than 87% of 425 sector peers
Gross operating margin	€18k	€35k	better than 38% of 424 sector peers
Total assets	€253k	€100k	better than 75% of 425 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P70

Weakening position over 2020-2024 · n=69-425

Net result P14

Weakening position over 2020-2024 · n=69-425

Equity P87

Stable position over 2020-2024 · n=69-425

Gross operating margin P38

Stable position over 2020-2024 · n=69-424

Describes the position versus peers, not a forecast.

EBITDA

€18k

-16.1% 18-24

Net profit

€-15k

-28.7% 18-24

Cash flow

€17k

-16.5% 18-24

Total assets

€253k

-6.9% 18-24

Equity

€140k

-10.0% 18-24

Working capital

€-39k

+28.3% 18-24

Debt

€113k

-2.8% 18-24

Debt ≤ 1y

€113k

-1.0% 18-24

Debt > 1y

€355

-85.4% 18-24

Current ratio

0.65

+25.1% 18-24

Quick ratio

0.65

+25.1% 18-24

Solvency

55.2%

-3.3% 18-24

Debt / equity

0.81

+7.9% 18-24

ROE

-11.1%

-42.9% 18-24

ROA

-6.1%

-38.2% 18-24

Interest coverage

21.83

-10.1% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€18k
Net profit	€-15k
Cash flow	€17k
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€253k
Equity	€140k
Debt	€113k
of which ≤ 1y	€113k
of which > 1y	€355
Working capital	€-39k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	0.65
Quick ratio	0.65
Working capital ratio	-15.4%
Solvency	55.2%
Debt / equity	0.81
Long-term debt ratio	0.00
Interest coverage	21.83
Gross margin	-
Net margin	-
ROA	-6.1%
ROE	-11.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €179k · 70.8% Current assets €74k · 29.2%

Equity & liabilities

Equity €140k · 55.2% Debt €113k · 44.8%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€253k
Fixed assets	21/28	€179k
Tangible fixed assets	22/27	€179k
Current assets	29/58	€74k
Amounts receivable within one year	40/41	€73k
Cash & bank	54/58	€525
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€253k
Equity	10/15	€140k
Contributions / capital	10/11	€81k
Reserves	13	€48k
Accumulated profits (losses)	14	€-44k
Amounts payable	17/49	€113k
Amounts payable after one year	17	€355
Amounts payable within one year	42/48	€113k
Income statement
Gross operating margin	9900	€18k
Operating result	9901	€-15k
Financial charges	65	€838
Result before taxes	9903	€-15k
Net result for the period	9904	€-15k
Result to be appropriated	9905	€-15k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

45 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Bichurées 27880 Flobecq

Establishment units

1 location

Bichurées 2, 7880 Flobecq

de vervaardiging en installatie van industriële machines, apparaten en toestellen voor de koeltechniek.

since 19952.066.789.589

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area1,163 m²

Buildings1

Building footprint175 m²

Volume (LiDAR)1,033 m³

Tallest building7.9 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
51019B0173/00G000	Wallonia	1,163 m²	1 · 175 m²	7.8 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

1 acts

Address history · 1

04-06-2024

Registered-office move

All acts · 1 updated 2 years ago

2024

04-06-2024 Registered office moved within FLOBECQ Registered-office change

Bichurées 4, 7880 FLOBECQ → Bichurées 2, 7880 FLOBECQ

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

49 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 45

Profitability 0

Solvency 67

Growth 32

Stability 100

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