CEDEMA
ActiveSummary
CEDEMA has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €360,383 and a net result of €15,252. Equity is growing by ~5.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▼-1
Solvency99▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days only on tighter terms
Liquidity ample (current ratio 5.24 against 8.33 in 2023; short-term debt: 8.8% and cash: 0.3% of total assets), and 26% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-11-2025, 117 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
117 d late
2023
30 d late
2022
67 d late
2021
28 d late
2020
64 d late
2019
84 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 65 days after 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 (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€15,252▼ 1.9%
2023 · €15,541
Working capital
€181,605▲ 13.2%
2023 · €160,377
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
Line20202021202220232024
Operating result€33,685▲ 143%€29,494▼ 12.4%€30,875▲ 4.7%€21,221▼ 31.3%€15,509▼ 26.9%
Net result€23,267▲ 133%€17,575▼ 24.5%€18,825▲ 7.1%€15,541▼ 17.4%€15,252▼ 1.9%
Equity€293,191▲ 8.6%€310,765▲ 6.0%€329,590▲ 6.1%€345,131▲ 4.7%€360,383▲ 4.4%
Total assets€416,409=€390,158▼ 6.3%€396,114▲ 1.5%€367,015▼ 7.3%€487,322▲ 32.8%
Debt€123,218▼ 15.9%€79,392▼ 35.6%€66,523▼ 16.2%€21,883▼ 67.1%€126,939▲ 480%
Working capital€97,647▲ 45.4%€122,451▲ 25.4%€134,451▲ 9.8%€160,377▲ 19.3%€181,605▲ 13.2%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 27% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €487,322
Fixed assets
€262,917 ▲ 42.3%
Current assets
€224,405 ▲ 23.1%
Equity and liabilities €487,322
Equity
€360,383 ▲ 4.4%
Debt
€126,939 ▲ 480%
Debt's share of the balance-sheet total rises from 6.0% to 26.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€32,826▲
2023 · €31,606
Cash flow
€32,568▲
2023 · €25,926
Current ratio
5.24▼
2023 · 8.33
Debt to equity
0.35▲
2023 · 0.06
ROE
4.2%▼
2023 · 4.5%
ROA
3.1%▼
2023 · 4.2%
Interest coverage
7.61▼
2023 · 91.50
Debt ≤ 1 year
€42,799▲
2023 · €21,883
Debt > 1 year
€84,139
Income taxes
€8,700▼
2023 · €9,964
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 14,684 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,229 | €7,229 | €8,958 | €10,385 | €17,317 | ▲ 66.7% |
| Other operating charges640/8 | - | €456 | €423 | €3,604 | €3,657 | ▲ 1.5% |
| Non-recurring operating charges66A | - | €1,748 | - | - | - | - |
| Gross operating margin9900 | €44,205 | €38,928 | €40,256 | €35,210 | €36,482 | ▲ 3.6% |
| Operating profit (loss)9901 | €33,685 | €29,494 | €30,875 | €21,221 | €15,509 | ▼ 26.9% |
| Financial income75/76B | - | - | - | €4,629 | €12,754 | ▲ 176% |
| Recurring financial income75 | - | - | - | €4,629 | €12,754 | ▲ 176% |
| Financial charges65/66B | - | €610 | €500 | €345 | €4,311 | ▲ 1,148% |
| Recurring financial charges65 | €330 | €610 | €500 | €345 | €4,311 | ▲ 1,148% |
| Profit (loss) for the period before taxes9903 | €33,355 | €28,884 | €30,375 | €25,505 | €23,952 | ▼ 6.1% |
| Income taxes67/77 | €10,088 | €11,310 | €11,550 | €9,964 | €8,700 | ▼ 12.7% |
| Profit (loss) for the period9904 | €23,267 | €17,575 | €18,825 | €15,541 | €15,252 | ▼ 1.9% |
| Profit (loss) for the period to be appropriated9905 | €23,267 | €17,575 | €18,825 | €15,541 | €15,252 | ▼ 1.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €416,409 | €390,158 | €396,114 | €367,015 | €487,322 | ▲ 32.8% |
| Fixed assets21/28 | €195,543 | €188,315 | €195,139 | €184,754 | €262,917 | ▲ 42.3% |
| Tangible fixed assets22/27 | €195,543 | €188,315 | €195,139 | €184,754 | €262,917 | ▲ 42.3% |
| Land and buildings22 | - | €188,315 | €181,086 | €173,858 | €253,776 | ▲ 46.0% |
| Furniture and vehicles24 | - | - | €14,053 | €10,896 | €9,142 | ▼ 16.1% |
| Current assets29/58 | €220,866 | €201,843 | €200,974 | €182,260 | €224,405 | ▲ 23.1% |
| Amounts receivable after more than one year29 | - | - | €183,925 | €162,013 | €213,125 | ▲ 31.5% |
| Other amounts receivable291 | - | - | €183,925 | €162,013 | €213,125 | ▲ 31.5% |
| Amounts receivable within one year40/41 | €218,079 | €176,944 | €9,700 | €9,700 | €9,700 | = |
| Trade receivables40 | - | €6,266 | €9,700 | €9,700 | €9,700 | = |
| Other amounts receivable41 | - | €170,678 | - | - | - | - |
| Cash at bank and in hand54/58 | €2,586 | €23,592 | €6,950 | €10,547 | €1,579 | ▼ 85.0% |
| Deferred charges and accrued income490/1 | - | €1,307 | €400 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €416,409 | €390,158 | €396,114 | €367,015 | €487,322 | ▲ 32.8% |
| Equity10/15 | €293,191 | €310,765 | €329,590 | €345,131 | €360,383 | ▲ 4.4% |
| Contributions10/11 | €61,998 | €61,998 | €61,998 | €61,998 | €61,998 | = |
| Capital10 | - | €61,998 | €61,998 | €61,998 | €61,998 | = |
| Issued capital100 | - | €61,998 | €61,998 | €61,998 | €61,998 | = |
| Revaluation surpluses12 | - | €126,426 | €121,964 | €117,502 | €117,502 | = |
| Reserves13 | €24,048 | €46,085 | €69,372 | €89,375 | €104,627 | ▲ 17.1% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €39,885 | €63,172 | €83,175 | €98,427 | ▲ 18.3% |
| Profit (loss) carried forward14 | €76,257 | €76,257 | €76,257 | €76,257 | €76,257 | = |
| Amounts payable17/49 | €123,218 | €79,392 | €66,523 | €21,883 | €126,939 | ▲ 480% |
| Amounts payable after more than one year17 | - | - | - | - | €84,139 | - |
| Financial debts170/4 | - | - | - | - | €84,139 | - |
| Amounts payable within one year42/48 | €123,218 | €79,392 | €66,523 | €21,883 | €42,799 | ▲ 95.6% |
| Financial debts43 | - | - | - | - | €23,708 | - |
| Credit institutions430/8 | - | - | - | - | €23,708 | - |
| Trade debts44 | €5,851 | €6,241 | €2,171 | €369 | €187 | ▼ 49.4% |
| Suppliers440/4 | - | €6,241 | €2,171 | €369 | €187 | ▼ 49.4% |
| Taxes, remuneration and social security45 | - | €21,398 | €22,860 | €21,514 | €18,904 | ▼ 12.1% |
| Taxes450/3 | - | €21,398 | €22,860 | €21,514 | €18,904 | ▼ 12.1% |
| Other amounts payable47/48 | - | €51,753 | €41,492 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,267 | €17,575 | €18,825 | €15,541 | €15,252 | ▼ 1.9% |
| + Depreciation and write-downs630 | €7,229 | €7,229 | €8,958 | €10,385 | €17,317 | ▲ 66.7% |
| Operating cash flow (approximation) | €30,496 | €24,803 | €27,783 | €25,926 | €32,568 | ▲ 25.6% |
| Investment in fixed assets (approximation) | - | €0 | -€15,782 | €0 | -€95,480 | - |
| Change in cash | - | €21,005 | -€16,642 | €3,598 | -€8,968 | ▼ 349% |
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
2025
25-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 117 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Liquidity triplescurrent ratio 8.33
Current ratio from 3.02 to 8.33; short-term debt falls from €66,523 to €21,883.
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
28-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
03-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 64 days late
2020
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 84 days late
2019
31-12
Financial
Weakest financial yearnet €9,993 ▼64.6%
Net result drops to €9,993, the lowest in the series; recovery starts the following year.
30-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
30-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Lambrechts-Woluwe · 1 establishment unit since 1988
Ground area
499 m²
Building footprint
138 m²
Volume, LiDAR
1,213 m³
Parcel 21673D0148/00H007, Brussels · tallest building 14.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
CEDEMA SA
since 19882.034.220.157
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21673D0148/00H007 | Brussels | 499 m² | 1 · 138 m² | 14.8 m · 3 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.
Identification & contact
Identification
Legal formPublic limited company
Founded27-11-1987
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0432674141
Also
9925:BE0432674141
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.