Equity
Debts exceed assets in financial year 2025.
In July 2024, 907 companies had the same profile as Ceed has now. Each dot stands for 3 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 907 companies, not a prediction for Ceed. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Ceed files the micro format. That format states no turnover. The gross margin rose from €492 in 2019 to €21,216 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €72,000 and €380,000.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
66,697 | 85,660 | 104,627 | 114,822 | 124,126 | 130,323 | 139,802 | |
21/28 |
63,564 | 82,195 | 101,206 | 101,144 | 115,631 | 124,576 | 137,971 | |
21 |
59,411 | 71,906 | 84,401 | 96,896 | 109,391 | 121,886 | 134,381 | |
22/27 |
4,153 | 10,289 | 16,804 | 4,248 | 6,240 | 2,690 | 3,590 | |
24 |
4,153 | 10,289 | 16,804 | 4,248 | 6,240 | 2,690 | 3,590 | |
29/58 |
3,133 | 3,465 | 3,421 | 13,677 | 8,495 | 5,746 | 1,830 | |
40/41 |
1,000 | - | - | 10,030 | 1,340 | - | 430 | |
40 |
1,000 | - | - | 10,030 | 1,340 | - | 430 | |
54/58 |
676 | 2,135 | 884 | 3,009 | 5,700 | 5,234 | 756 | |
490/1 |
1,457 | 1,330 | 2,537 | 638 | 1,455 | 513 | 644 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
66,697 | 85,660 | 104,627 | 114,822 | 124,126 | 130,323 | 139,802 | |
10/15 |
-33,070 | -33,316 | -26,278 | -16,921 | -17,565 | -13,763 | -7,411 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | |
14 |
-45,470 | -45,716 | -38,678 | -29,321 | -29,965 | -26,163 | -19,811 | |
17/49 |
99,767 | 118,976 | 130,905 | 131,742 | 141,692 | 144,086 | 147,213 | |
17 |
27,895 | 40,118 | 53,761 | 54,882 | 63,727 | 72,432 | 76,778 | |
170/4 |
27,895 | 40,118 | 53,761 | 54,882 | 63,727 | 72,432 | 76,778 | |
42/48 |
71,873 | 78,858 | 77,144 | 76,861 | 77,964 | 71,653 | 70,435 | |
42 |
12,223 | 13,643 | 13,685 | 8,846 | 8,705 | 9,254 | 8,394 | |
43 |
- | - | - | - | - | 2 | - | |
430/8 |
- | - | - | - | - | 2 | - | |
44 |
1,963 | 1,164 | 272 | 2,635 | 2,252 | 741 | 2,123 | |
440/4 |
1,963 | 1,164 | 272 | 2,635 | 2,252 | 741 | 2,123 | |
45 |
3,034 | 4,096 | 2,043 | 323 | 2,400 | 302 | 3,500 | |
450/3 |
634 | 1,696 | 2,043 | 323 | - | - | - | |
454/9 |
2,400 | 2,400 | - | - | 2,400 | 302 | 3,500 | |
47/48 |
54,652 | 59,955 | 61,144 | 65,057 | 64,607 | 61,354 | 56,418 | |
| Income statement | ||||||||
76A |
- | - | - | - | - | 2,500 | - | |
9900 |
21,216 | 14,187 | 10,117 | 17,103 | 10,551 | 8,627 | 492 | |
62 |
249 | 161 | - | - | - | - | - | |
630 |
18,630 | 19,011 | 16,950 | 14,486 | 13,579 | 13,395 | 16,529 | |
640/8 |
34 | 73 | - | 57 | 55 | 55 | 1,692 | |
9901 |
2,302 | -5,058 | -6,833 | 2,559 | -3,083 | -4,822 | -17,728 | |
75/76B |
- | - | - | - | - | 1 | - | |
75 |
- | - | - | - | - | 1 | - | |
65/66B |
1,721 | 1,682 | 1,905 | 1,348 | 719 | 1,531 | 2,083 | |
65 |
1,721 | 1,682 | 1,905 | 1,348 | 719 | 1,531 | 2,083 | |
9903 |
581 | -6,740 | -8,738 | 1,211 | -3,802 | -6,352 | -19,811 | |
67/77 |
335 | 298 | 619 | 567 | - | - | - | |
9904 |
246 | -7,039 | -9,357 | 645 | -3,802 | -6,352 | -19,811 | |
9905 |
246 | -7,039 | -9,357 | 645 | -3,802 | -6,352 | -19,811 | |
| Appropriation of the result | ||||||||
9906 |
-45,470 | -45,716 | -38,678 | -29,321 | -29,965 | -26,163 | -19,811 | |
14P |
-45,716 | -38,678 | -29,321 | -29,965 | -26,163 | - | - | |
| Document | ||||||||
The notes to these accounts have 8 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.
Source: Annual accounts 2025 at the NBB, filed on 17-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00319276 | |
| 31-12-2024 | micro format | 15-09-2025 | 2025-00491606 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00312192 | |
| 31-12-2022 | micro format | 11-08-2023 | 2023-00328423 | |
| 31-12-2021 | micro format | 08-08-2022 | 2022-20275636 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-38800307 | |
| 31-12-2019 | micro format | 05-06-2020 | 2020-15100123 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 20,933 | 13,953 | 10,117 | 17,046 | 10,496 | 8,573 | -1,200 | ||
| 18,877 | 11,972 | 7,593 | 15,131 | 9,777 | 7,043 | -3,282 | ||
| 0 | 0 | 17,011 | 0 | 4,634 | 0 | 154,500 | ||
| -1,460 | 1,251 | -2,125 | -2,691 | 466 | 4,478 | - | ||
| -68,740 | -75,394 | -73,723 | -63,183 | -69,469 | -65,907 | -68,605 | ||
| -49.6% | -38.9% | -25.1% | -14.7% | -14.2% | -10.6% | -5.3% | ||
| 0.04 | 0.04 | 0.04 | 0.18 | 0.11 | 0.08 | 0.03 | ||
| 0.4% | -8.2% | -8.9% | 0.6% | -3.1% | -4.9% | -14.2% | ||
| 12.16 | 8.29 | 5.31 | 12.65 | 14.60 | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €17,011 | - | €4,634 |
| €18,630 | €19,011 | €16,950 | €14,486 | €13,579 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €2,302, after a loss of €5,058 in 2024. It is the highest result since 2022.
Equity is negative. Debt (€99,767) exceeds the balance-sheet total (€66,697).
Ceed has no parent and no holdings in its annual accounts. is the only director.
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Avenue des Combattants 76 registered office 5030 Gembloux | ||
| Chaussée de Namur 98 5030 Gembloux 86995 Nutrition and dietetics services | 05-10-2018 | 2.280.739.323 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 92053B0055/00D016 | 1,060 m² | 1 · 84 m² | 11.7 m · 3 |
| 92053B0055/00F024 | 1,045 m² | 1 · 461 m² | 16.6 m · 4 |
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