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Cedo Nulli

Active Risk: not assessed
Private limited companyfounded 2018active for 8 yearsZilvervosdreef 40, 2900 Schoten, BelgiumKBO/BCE: BE 0701.688.102

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 23-07-2026 at the NBB all 8 filings

Equity
€16,067▼ 80.6%
2024 · €82,969
Net result
€15,067
2024 · -€3,070
Total assets
€154,640▼ 4.2%
2024 · €161,381
Solvency
10.4%▼ 41.0pp
2024 · 51.4%
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is nearly 35 times that of 2024. It is a recovery after the fall in 2024.

Operating result€23,846 2025 Net result€15,067 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result-€6,832-€5,181€17,248▲ 233%€45,006▲ 161%€30,604▼ 32.0%€19,291▼ 37.0%€688▼ 96.4%€23,846▲ 35×
Net result-€6,865-€4,805€7,795below the sector's middle half▲ 62.2%€30,405within the sector's middle half▲ 290%€19,598within the sector's middle half▼ 35.5%€11,701below the sector's middle half▼ 40.3%-€3,070below the sector's middle half€15,067within the sector's middle half
Equity€5,535-€10,340▲ 86.8%€18,135below the sector's middle half▲ 75.4%€48,540below the sector's middle half▲ 168%€68,138below the sector's middle half▲ 40.4%€86,038below the sector's middle half▲ 26.3%€82,969below the sector's middle half▼ 3.6%€16,067below the sector's middle half▼ 80.6%
Total assets€9,996-€25,070▲ 151%€94,153below the sector's middle half▲ 276%€104,038below the sector's middle half▲ 10.5%€163,405below the sector's middle half▲ 57.1%€176,827below the sector's middle half▲ 8.2%€161,381below the sector's middle half▼ 8.7%€154,640within the sector's middle half▼ 4.2%
Debt€4,461-€14,730▲ 230%€76,018▲ 416%€55,498▼ 27.0%€95,268▲ 71.7%€90,789▼ 4.7%€78,413▼ 13.6%€138,573▲ 76.7%
Working capital€7,169-€9,310▲ 29.9%-€33,513below the sector's middle half-€5,163within the sector's middle half▲ 84.6%-€5,472within the sector's middle half▼ 6.0%-€4,518within the sector's middle half▲ 17.4%-€6,987within the sector's middle half▼ 54.7%-€70,085below the sector's middle half▼ 903%
Solvency55.4%-41.2%▼ 14.1pp19.3%within the sector's middle half▼ 22.0pp46.7%within the sector's middle half▲ 27.4pp41.7%within the sector's middle half▼ 5.0pp48.7%within the sector's middle half▲ 7.0pp51.4%within the sector's middle half▲ 2.8pp10.4%below the sector's middle half▼ 41.0pp
Current ratio3.80-1.63▼ 2.170.56below the sector's middle half▼ 1.070.91below the sector's middle half▲ 0.350.92within the sector's middle half▲ 0.010.93within the sector's middle half▲ 0.010.90within the sector's middle half▼ 0.030.49below the sector's middle half▼ 0.41
Return on assets (ROA)-68.7%-19.2%▲ 87.8pp8.3%within the sector's middle half▼ 10.9pp29.2%above the sector's middle half▲ 20.9pp12.0%within the sector's middle half▼ 17.2pp6.6%within the sector's middle half▼ 5.4pp-1.9%below the sector's middle half▼ 8.5pp9.7%within the sector's middle half▲ 11.6pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above within below The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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.
Turnover and EBIT margin are not published. The abbreviated or micro 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
Assets €154,640
Fixed assets €86,152 ▼ 12.5%
Current assets €68,488 ▲ 8.8%
Equity and liabilities €154,640
Equity €16,067 ▼ 80.6%
Debt €138,573 ▲ 76.7%
Debt's share of the balance-sheet total rises from 48.6% to 89.6%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
ROE
93.8%▲
2024 · -3.7%
Debt ≤ 1 year
€138,573▲
2024 · €69,949
Debt > 1 year
€0▼
2024 · €8,068
Income taxes
€8,515▲
2024 · €919
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as Cedo Nulli: risk and damage evaluation (NACE 66210). They are comparable in size and age: total assets between €124,000 and €177,000, founded between 2016 and 2020.

CompanyFoundedTotal assetsEquityGross marginNet resultFinancial year
Cedo Nulli Schoten2018€154,640€16,067€45,293€15,0672025
Expertisebureau Van de Poel & Partners Geel2016€169,891€108,062€54,478-€7,3552025
DSW-Consult Essen2020€142,096€114,517€42,492€31,2852025
Pilotfish Ternat2020€153,063€108,252€56,269€31,0662025
CRL Expertise Automobile La Louvière2016€123,539€69,998€48,491€30,3802025
Achnan Roeselare2016€125,375€111,772€32,884€17,1442025
RolaC Oudenaarde2020€176,562€153,782€61,320€34,3552025

They were chosen from the 515 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Subsidies and aid

Flemish government

2023 to 2024 · 2 entries · €1,107 awarded · €1,107 paid
Year Entries AwardedPaid
2024 1 €588€588
2023 1 €519€519
Schemes
2 entries · €1,107 · €1,107 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines

Source: Annual accounts 2025 at the NBB, filed on 23-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€161,381€154,640▼
Fixed assets21/28€98,420€86,152▼
Tangible fixed assets22/27€98,264€85,956▼
Plant, machinery and equipment23€1,166€1,926▲
Furniture and vehicles24€97,099€84,030▼
Financial fixed assets28€156€196▲
Current assets29/58€62,961€68,488▲
Stocks and contracts in progress3€21,719€26,201▲
Contracts in progress37€21,719€26,201▲
Amounts receivable within one year40/41€23,831€24,620▲
Trade receivables40€9,701€24,559▲
Other amounts receivable41€14,130€61▼
Cash at bank and in hand54/58€11,817€10,919▼
Deferred charges and accrued income490/1€5,595€6,748▲
Equity and liabilities
Total equity and liabilities10/49€161,381€154,640▼
Equity10/15€82,969€16,067▼
Contributions10/11€18,600€1,000▼
Profit (loss) carried forward14€64,369€15,067▼
Amounts payable17/49€78,413€138,573▲
Amounts payable after more than one year17€8,068€0▼
Financial debts170/4€8,068€0▼
Amounts payable within one year42/48€69,949€138,573▲
Current portion of amounts payable after more than one year42€17,383€8,068▼
Trade debts44€3,015€78▼
Suppliers440/4€3,015€78▼
Taxes, remuneration and social security45€7,746€3,427▼
Taxes450/3€1,780€3,427▲
Remuneration and social security454/9€5,966€0▼
Other amounts payable47/48€41,804€127,000▲
Accrued charges and deferred income492/3€396€0▼
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19,010€18,536▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€369
Other operating charges640/8€2,780€2,541▼
Gross operating margin9900€22,479€45,293▲
Operating profit (loss)9901€688€23,846▲
Financial income75/76B€1,362€1▼
Recurring financial income75€1,362€1▼
Financial charges65/66B€4,201€265▼
Recurring financial charges65€4,201€265▼
Profit (loss) for the period before taxes9903-€2,151€23,582▲
Income taxes67/77€919€8,515▲
Profit (loss) for the period9904-€3,070€15,067▲
Profit (loss) for the period to be appropriated9905-€3,070€15,067▲
Appropriation of the result
Profit (loss) to be appropriated9906€64,369€79,435▲
Profit (loss) brought forward from the previous period14P€67,438€64,369▼
Profit to be distributed694/7-€64,369
Return on contributions (dividend)694-€64,369

The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Non-recurring operating income76A----€6,454€0---
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21€95€528€1,401€4,921€13,956€19,010€18,536▼ 2.5%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-------€369-
Other operating charges640/8---€2,170€2,907€2,713€2,780€2,541▼ 8.6%
Gross operating margin9900-€6,452€5,801€21,510€48,577€38,432€35,959€22,479€45,293▲ 101%
Operating profit (loss)9901-€6,832€5,181€17,248€45,006€30,604€19,291€688€23,846▲ 35×
Financial income75/76B---€2,159€706€7€1,362€1▼ 100.0%
Recurring financial income75-€3€10€2,159€706€7€1,362€1▼ 100.0%
Financial charges65/66B---€3,183€1,636€2,833€4,201€265▼ 93.7%
Recurring financial charges65€33€173€858€1,312€1,636€2,833€4,201€265▼ 93.7%
Non-recurring financial charges66B---€1,871€0----
Profit (loss) for the period before taxes9903-€6,865€5,010€16,400€43,982€29,674€16,466-€2,151€23,582-
Income taxes67/77-€205€8,605€13,577€10,077€4,765€919€8,515▲ 826%
Profit (loss) for the period9904-€6,865€4,805€7,795€30,405€19,598€11,701-€3,070€15,067-
Profit (loss) for the period to be appropriated9905-€6,865€4,805€7,795€30,405€19,598€11,701-€3,070€15,067-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€9,996€25,070€94,153€104,038€163,405€176,827€161,381€154,640▼ 4.2%
Fixed assets21/28€267€1,029€51,648€53,704€99,798€116,008€98,420€86,152▼ 12.5%
Tangible fixed assets22/27€227€989€51,608€53,664€99,758€115,968€98,264€85,956▼ 12.5%
Plant, machinery and equipment23---€2,122€3,252€1,340€1,166€1,926▲ 65.2%
Furniture and vehicles24---€51,542€96,506€114,627€97,099€84,030▼ 13.5%
Financial fixed assets28€40€40€40€40€40€40€156€196▲ 25.7%
Current assets29/58€9,729€24,040€42,505€50,334€63,607€60,819€62,961€68,488▲ 8.8%
Stocks and contracts in progress3------€21,719€26,201▲ 20.6%
Contracts in progress37------€21,719€26,201▲ 20.6%
Amounts receivable within one year40/41€5,305€18,292€27,211€34,231€37,670€36,425€23,831€24,620▲ 3.3%
Trade receivables40---€32,870€32,327€23,831€9,701€24,559▲ 153%
Other amounts receivable41---€1,361€5,343€12,594€14,130€61▼ 99.6%
Cash at bank and in hand54/58€2,341€4,560€12,975€12,845€19,585€18,414€11,817€10,919▼ 7.6%
Deferred charges and accrued income490/1---€3,258€6,352€5,981€5,595€6,748▲ 20.6%
Equity and liabilities
Total equity and liabilities10/49€9,996€25,070€94,153€104,038€163,405€176,827€161,381€154,640▼ 4.2%
Equity10/15€5,535€10,340€18,135€48,540€68,138€86,038€82,969€16,067▼ 80.6%
Contributions10/11€12,400€12,400-€12,400€12,400€18,600€18,600€1,000▼ 94.6%
Profit (loss) carried forward14-€6,865-€2,060€5,735€36,140€55,738€67,438€64,369€15,067▼ 76.6%
Amounts payable17/49€4,461€14,730€76,018€55,498€95,268€90,789€78,413€138,573▲ 76.7%
Amounts payable after more than one year17----€26,188€25,451€8,068€0▼ 100%
Financial debts170/4----€26,188€25,451€8,068€0▼ 100%
Amounts payable within one year42/48€2,560€14,730€76,018€55,498€69,079€65,337€69,949€138,573▲ 98.1%
Current portion of amounts payable after more than one year42----€8,443€27,412€17,383€8,068▼ 53.6%
Financial debts43----€8,714€0---
Credit institutions430/8----€8,714€0---
Trade debts44€458€523€29,333€15,507€15,064€4,090€3,015€78▼ 97.4%
Suppliers440/4---€15,507€15,064€4,090€3,015€78▼ 97.4%
Taxes, remuneration and social security45---€3,022€0-€7,746€3,427▼ 55.8%
Taxes450/3---€3,022€0-€1,780€3,427▲ 92.6%
Remuneration and social security454/9------€5,966€0▼ 100%
Other amounts payable47/48---€36,969€36,857€33,835€41,804€127,000▲ 204%
Accrued charges and deferred income492/3------€396€0▼ 100%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€6,865€4,805€7,795€30,405€19,598€11,701-€3,070€15,067-
+ Depreciation and write-downs630€21€95€528€1,401€4,921€13,956€19,010€18,536▼ 2.5%
Operating cash flow (approximation)-€6,845€4,900€8,324€31,806€24,518€25,657€15,940€33,603▲ 111%
Investment in fixed assets (approximation)--€858-€51,147-€3,456-€51,016-€30,165-€1,422-€6,268▼ 341%
Change in cash-€2,220€8,415-€130€6,739-€1,171-€6,598-€898▲ 86.4%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (8)
Financial year Type Filed Reference Document
31-12-2025 micro format 23-07-2026 2026-00323468 NBB
31-12-2024 abbreviated format 01-07-2025 2025-00210387 PDF
31-12-2023 abbreviated format 21-08-2024 2024-00361417 PDF
31-12-2022 abbreviated format 10-08-2023 2023-00325873 PDF
31-12-2021 abbreviated format 18-08-2022 2022-20309237 PDF
31-12-2020 abbreviated format 23-08-2021 2021-54600017 PDF
31-12-2019 abbreviated format 18-09-2020 2020-54200432 PDF
31-12-2018 abbreviated format 30-08-2019 2019-61600361 PDF

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