CEFI
ActiveSummary
CEFI has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €25,550. Equity remains stable across the filed financial years (±1.2% per year). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, abbreviated format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€25,550▲ 1,554%
2024 · €1,545
Working capital
€81,241▲ 37.8%
2024 · €58,944
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 174% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.06m
2025
Net result€0.03m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.9m
2025
Equity€1.4m
2025
Debt€0.5m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.08m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.08m-€0.09m▲ 10.5%€0.06m▼ 32.2%€0.01m▼ 76.7%€0.05m▲ 273%€0.05m▼ 17.5%€0.02m▼ 55.4%€0.06m▲ 174%
Net result€0.05m-€0.06m▲ 7.2%€0.04m▼ 33.6%€0.004m▼ 90.2%€0.03m▲ 747%€0.02m▼ 22.5%€0.002m▼ 93.5%€0.03m▲ 1,554%
Equity€1.6m-€1.6m▼ 1.3%€1.6m▲ 2.4%€1.5m▼ 4.2%€1.6m▲ 2.0%€1.5m▼ 0.9%€1.4m▼ 6.8%€1.4m▼ 0.8%
Total assets€2.0m-€2.0m▲ 2.4%€1.9m▼ 6.1%€2.0m▲ 3.9%€1.9m▼ 1.3%€1.9m▲ 0.2%€2.0m▲ 3.1%€1.9m▼ 5.7%
Debt€0.4m-€0.5m▲ 17.0%€0.3m▼ 34.9%€0.4m▲ 47.2%€0.4m▼ 12.6%€0.4m▲ 4.7%€0.6m▲ 41.3%€0.5m▼ 18.1%
Working capital-€0.09m--€0.06m▲ 28.0%-€0.09m▼ 35.0%-€0.04m▲ 59.0%-€0.1m▼ 183%€0.008m€0.06m▲ 642%€0.08m▲ 37.8%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.8m ▼ 1.9%
Current assets
€136,006 ▼ 37.0%
Equity and liabilities €1.9m
Equity
€1.4m ▼ 0.8%
Debt
€464,456 ▼ 18.1%
Debt's share of the balance-sheet total falls from 28.3% to 24.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€115,777▲
2024 · €79,756
Cash flow
€86,249▲
2024 · €61,217
Current ratio
2.48▲
2024 · 1.38
Debt to equity
0.33▼
2024 · 0.39
ROE
1.8%▲
2024 · 0.1%
ROA
1.4%▲
2024 · 0.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€54,766▼
2024 · €157,083
Debt > 1 year
€409,691=
2024 · €409,691
Income taxes
€29,375▲
2024 · €17,995
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,340 | €41,340 | €41,992 | €41,819 | €53,516 | €59,358 | €59,672 | €60,699 | ▲ 1.7% |
| Other operating charges640/8 | - | - | - | €6,144 | €12,655 | €8,349 | €9,082 | €9,529 | ▲ 4.9% |
| Gross operating margin9900 | €129,046 | €137,656 | €112,951 | €62,604 | €120,774 | €112,739 | €88,838 | €125,306 | ▲ 41.1% |
| Operating profit (loss)9901 | €83,769 | €92,539 | €62,704 | €14,641 | €54,603 | €45,032 | €20,084 | €55,078 | ▲ 174% |
| Financial charges65/66B | - | - | - | €150 | €936 | €897 | €544 | €153 | ▼ 71.9% |
| Recurring financial charges65 | €435 | €43 | €53 | €150 | €936 | €897 | €544 | €153 | ▼ 71.9% |
| Profit (loss) for the period before taxes9903 | €83,334 | €92,497 | €62,651 | €14,491 | €53,667 | €44,135 | €19,540 | €54,925 | ▲ 181% |
| Income taxes67/77 | €31,923 | €37,368 | €26,063 | €10,901 | €23,240 | €20,544 | €17,995 | €29,375 | ▲ 63.2% |
| Profit (loss) for the period9904 | €51,411 | €55,128 | €36,588 | €3,591 | €30,427 | €23,591 | €1,545 | €25,550 | ▲ 1,554% |
| Profit (loss) for the period to be appropriated9905 | €51,411 | €55,128 | €36,588 | €3,591 | €30,427 | €23,591 | €1,545 | €25,550 | ▲ 1,554% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.0m | €2.0m | €1.9m | €2.0m | €1.9m | €1.9m | €2.0m | €1.9m | ▼ 5.7% |
| Fixed assets21/28 | €2.0m | €1.9m | €1.9m | €1.9m | €1.9m | €1.8m | €1.8m | €1.8m | ▼ 1.9% |
| Tangible fixed assets22/27 | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | ▼ 5.5% |
| Land and buildings22 | - | - | - | €0.7m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 6.8% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | - | €0.008m | €0.02m | €0.03m | ▲ 76.6% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.09m | €0.07m | €0.04m | €0.04m | ▼ 18.3% |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €0.004m | €0.09m | €0.004m | €0.1m | €0.05m | €0.1m | €0.2m | €0.1m | ▼ 37.0% |
| Amounts receivable within one year40/41 | - | €0.09m | - | €0.09m | - | €0.05m | €0.2m | €0.08m | ▼ 56.4% |
| Other amounts receivable41 | - | - | - | €0.09m | - | €0.05m | €0.2m | €0.08m | ▼ 56.4% |
| Cash at bank and in hand54/58 | €0.002m | €371 | €8 | €0.01m | €0.05m | €0.05m | €0.03m | €0.06m | ▲ 95.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.004m | €0.007m | €0.007m | €0.002m | ▼ 68.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.0m | €2.0m | €1.9m | €2.0m | €1.9m | €1.9m | €2.0m | €1.9m | ▼ 5.7% |
| Equity10/15 | €1.6m | €1.6m | €1.6m | €1.5m | €1.6m | €1.5m | €1.4m | €1.4m | ▼ 0.8% |
| Contributions10/11 | €0.09m | €0.09m | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Revaluation surpluses12 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €0.3m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 8.8% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.03m | €0.03m | €0.03m | - | - | - |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 8.8% |
| Profit (loss) carried forward14 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | ▲ 0.5% |
| Amounts payable17/49 | €0.4m | €0.5m | €0.3m | €0.4m | €0.4m | €0.4m | €0.6m | €0.5m | ▼ 18.1% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.08m | €0.2m | €0.1m | €0.2m | €0.4m | €0.4m | = |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.2m | €0.4m | €0.4m | = |
| Amounts payable within one year42/48 | €0.09m | €0.2m | €0.09m | €0.1m | €0.2m | €0.1m | €0.2m | €0.05m | ▼ 65.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.02m | €0.02m | €0.006m | - | - |
| Trade debts44 | €0.01m | €0.01m | €0.01m | €0.04m | €0.02m | €0.02m | €0.01m | €0.01m | ▲ 18.8% |
| Suppliers440/4 | - | - | - | €0.04m | €0.02m | €0.02m | €0.01m | €0.01m | ▲ 18.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.03m | €0.02m | €0.01m | €0.003m | ▼ 75.3% |
| Taxes450/3 | - | - | - | €0.01m | €0.03m | €0.02m | €0.01m | €0.003m | ▼ 75.3% |
| Other amounts payable47/48 | - | - | - | €0.09m | €0.09m | €0.04m | €0.1m | €0.04m | ▼ 70.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.1m | €0.1m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51,411 | €55,128 | €36,588 | €3,591 | €30,427 | €23,591 | €1,545 | €25,550 | ▲ 1,554% |
| + Depreciation and write-downs630 | €41,340 | €41,340 | €41,992 | €41,819 | €53,516 | €59,358 | €59,672 | €60,699 | ▲ 1.7% |
| Operating cash flow (approximation) | €92,751 | €96,468 | €78,580 | €45,410 | €83,944 | €82,949 | €61,217 | €86,249 | ▲ 40.9% |
| Investment in fixed assets (approximation) | - | €0 | -€6,562 | -€15,164 | -€81,749 | -€9,559 | -€9,448 | -€27,373 | ▼ 190% |
| Change in cash | - | -€1,180 | -€363 | €9,787 | €37,319 | -€1,845 | -€17,109 | €26,889 | ▲ 257% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Public contracts: not fully processed yet. The notices from October 2023 to September 2026 are still being read.