CEGESPRO
ActiveSummary
CEGESPRO has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €468,135 and a net result of €45,634. Equity is growing by about 14% per year across the filed financial years. Its solvency ranks better than 45% of 3,854 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
≈ €180,000
Estimated: probably between €130,000 and €290,000
EBIT margin
Not included in this filing
Net result
€45,634▼ 27.4%
2024 · €62,846
Working capital
-€21,331
2024 · €102,484
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 23% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€67,949
2025
Net result€45,634
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€998,126
2025
Equity€468,135
2025
Debt€529,992
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€21,331
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)4.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency46.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.86
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€23,681-€46,007▲ 94.3%€51,664▲ 12.3%€59,295▲ 14.8%€73,873▲ 24.6%€88,728▲ 20.1%€67,949▼ 23.4%
Net result€8,747-€25,624within the sector's middle half▲ 193%€32,048within the sector's middle half▲ 25.1%€37,611within the sector's middle half▲ 17.4%€48,600within the sector's middle half▲ 29.2%€62,846within the sector's middle half▲ 29.3%€45,634within the sector's middle half▼ 27.4%
Equity€215,771-€241,394within the sector's middle half▲ 11.9%€273,443within the sector's middle half▲ 13.3%€311,054within the sector's middle half▲ 13.8%€359,655within the sector's middle half▲ 15.6%€422,501within the sector's middle half▲ 17.5%€468,135within the sector's middle half▲ 10.8%
Total assets€689,540-€719,754within the sector's middle half▲ 4.4%€763,380within the sector's middle half▲ 6.1%€823,850within the sector's middle half▲ 7.9%€881,827within the sector's middle half▲ 7.0%€964,223within the sector's middle half▲ 9.3%€998,126within the sector's middle half▲ 3.5%
Debt€473,769-€478,360▲ 1.0%€489,938▲ 2.4%€512,796▲ 4.7%€522,173▲ 1.8%€541,723▲ 3.7%€529,992▼ 2.2%
Working capital-€94,914--€51,529within the sector's middle half▲ 45.7%-€27,687within the sector's middle half▲ 46.3%€27,326within the sector's middle half€41,975within the sector's middle half▲ 53.6%€102,484within the sector's middle half▲ 144%-€21,331within the sector's middle half
Solvency31.3%-33.5%within the sector's middle half▲ 2.2pp35.8%within the sector's middle half▲ 2.3pp37.8%within the sector's middle half▲ 1.9pp40.8%within the sector's middle half▲ 3.0pp43.8%within the sector's middle half▲ 3.0pp46.9%within the sector's middle half▲ 3.1pp
Current ratio0.34-0.63within the sector's middle half▲ 0.280.80within the sector's middle half▲ 0.181.18within the sector's middle half▲ 0.371.27within the sector's middle half▲ 0.091.61within the sector's middle half▲ 0.340.86within the sector's middle half▼ 0.75
Return on assets (ROA)1.3%-3.6%within the sector's middle half▲ 2.3pp4.2%within the sector's middle half▲ 0.6pp4.6%within the sector's middle half▲ 0.4pp5.5%within the sector's middle half▲ 0.9pp6.5%within the sector's middle half▲ 1.0pp4.6%within the sector's middle half▼ 1.9pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €998,126
Fixed assets
€871,049 ▲ 25.8%
Current assets
€127,077 ▼ 53.2%
Equity and liabilities €998,126
Equity
€468,135 ▲ 10.8%
Debt
€529,992 ▼ 2.2%
Debt's share of the balance-sheet total falls from 56.2% to 53.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€77,546▼
2024 · €95,829
Cash flow
€55,232▼
2024 · €69,948
Debt to equity
1.13▼
2024 · 1.28
ROE
9.7%▼
2024 · 14.9%
Interest coverage
8.91▼
2024 · 10.98
Debt ≤ 1 year
€148,408▼
2024 · €169,081
Debt > 1 year
€300,000=
2024 · €300,000
Income taxes
€15,211▼
2024 · €20,928
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,714 | €6,714 | €7,482 | €7,794 | €7,794 | €7,102 | €9,598 | ▲ 35.1% |
| Other operating charges640/8 | - | - | - | €25,235 | €18,189 | €19,247 | €17,743 | ▼ 7.8% |
| Gross operating margin9900 | €52,220 | €68,393 | €75,055 | €92,324 | €99,856 | €115,076 | €95,290 | ▼ 17.2% |
| Operating profit (loss)9901 | €23,681 | €46,007 | €51,664 | €59,295 | €73,873 | €88,728 | €67,949 | ▼ 23.4% |
| Financial income75/76B | - | - | - | - | - | €3,771 | €1,602 | ▼ 57.5% |
| Recurring financial income75 | €15 | €42 | - | - | - | €3,771 | €1,602 | ▼ 57.5% |
| Financial charges65/66B | - | - | - | €8,811 | €8,845 | €8,724 | €8,706 | ▼ 0.2% |
| Recurring financial charges65 | €11,050 | €8,863 | €8,767 | €8,811 | €8,845 | €8,724 | €8,706 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | €12,647 | €37,185 | €42,896 | €50,484 | €65,029 | €83,774 | €60,845 | ▼ 27.4% |
| Income taxes67/77 | €3,900 | €11,562 | €10,848 | €12,873 | €16,428 | €20,928 | €15,211 | ▼ 27.3% |
| Profit (loss) for the period9904 | €8,747 | €25,624 | €32,048 | €37,611 | €48,600 | €62,846 | €45,634 | ▼ 27.4% |
| Profit (loss) for the period to be appropriated9905 | €8,747 | €25,624 | €32,048 | €37,611 | €48,600 | €62,846 | €45,634 | ▼ 27.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €689,540 | €719,754 | €763,380 | €823,850 | €881,827 | €964,223 | €998,126 | ▲ 3.5% |
| Fixed assets21/28 | €640,327 | €633,613 | €650,344 | €642,550 | €684,756 | €692,659 | €871,049 | ▲ 25.8% |
| Intangible fixed assets21 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Tangible fixed assets22/27 | €41,207 | €34,493 | €51,224 | €43,430 | €35,636 | €43,539 | €46,049 | ▲ 5.8% |
| Land and buildings22 | - | - | - | €17,872 | €14,021 | €10,170 | €6,319 | ▼ 37.9% |
| Plant, machinery and equipment23 | - | - | - | €25,558 | €21,615 | €33,369 | €39,730 | ▲ 19.1% |
| Financial fixed assets28 | €549,120 | €549,120 | €549,120 | €549,120 | €599,120 | €599,120 | €775,000 | ▲ 29.4% |
| Current assets29/58 | €49,214 | €86,142 | €113,037 | €181,300 | €197,071 | €271,565 | €127,077 | ▼ 53.2% |
| Amounts receivable within one year40/41 | - | - | - | - | - | €16,966 | €6,124 | ▼ 63.9% |
| Trade receivables40 | - | - | - | - | - | €16,966 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | - | - | €6,124 | - |
| Current investments50/53 | - | - | - | - | - | €130,687 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €46,214 | €83,142 | €83,037 | €144,267 | €181,027 | €102,575 | €68,351 | ▼ 33.4% |
| Deferred charges and accrued income490/1 | - | - | - | €37,033 | €16,044 | €21,337 | €52,603 | ▲ 147% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €689,540 | €719,754 | €763,380 | €823,850 | €881,827 | €964,223 | €998,126 | ▲ 3.5% |
| Equity10/15 | €215,771 | €241,394 | €273,443 | €311,054 | €359,655 | €422,501 | €468,135 | ▲ 10.8% |
| Contributions10/11 | €111,552 | - | €111,552 | €111,552 | €111,552 | €111,552 | €111,552 | = |
| Capital10 | - | - | - | €111,552 | €111,552 | €111,552 | €111,552 | = |
| Issued capital100 | - | - | - | €111,552 | €111,552 | €111,552 | €111,552 | = |
| Reserves13 | €11,155 | €11,155 | €11,155 | €11,155 | €11,155 | €11,155 | €11,155 | = |
| Non-distributable reserves130/1 | - | - | - | €11,155 | €11,155 | €11,155 | €11,155 | = |
| Legal reserve130 | - | - | - | €11,155 | €11,155 | €11,155 | €11,155 | = |
| Profit (loss) carried forward14 | €93,064 | €118,687 | €150,735 | €188,347 | €236,947 | €299,793 | €345,427 | ▲ 15.2% |
| Amounts payable17/49 | €473,769 | €478,360 | €489,938 | €512,796 | €522,173 | €541,723 | €529,992 | ▼ 2.2% |
| Amounts payable after more than one year17 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Other amounts payable178/9 | - | - | - | €300,000 | €300,000 | €300,000 | €300,000 | = |
| Amounts payable within one year42/48 | €144,128 | €137,671 | €140,724 | €153,974 | €155,096 | €169,081 | €148,408 | ▼ 12.2% |
| Financial debts43 | - | - | - | €130,000 | €130,000 | €130,000 | €130,000 | = |
| Other loans439 | - | - | - | €130,000 | €130,000 | €130,000 | €130,000 | = |
| Trade debts44 | €13,274 | €110 | €9,876 | €20,881 | €18,448 | €33,115 | €17,971 | ▼ 45.7% |
| Suppliers440/4 | - | - | - | €20,881 | €18,448 | €33,115 | €17,971 | ▼ 45.7% |
| Taxes, remuneration and social security45 | - | - | - | €2,873 | €6,428 | €5,746 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €2,873 | €6,428 | €5,746 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €220 | €220 | €220 | €437 | ▲ 98.6% |
| Accrued charges and deferred income492/3 | - | - | - | €58,822 | €67,077 | €72,642 | €81,584 | ▲ 12.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,747 | €25,624 | €32,048 | €37,611 | €48,600 | €62,846 | €45,634 | ▼ 27.4% |
| + Depreciation and write-downs630 | €6,714 | €6,714 | €7,482 | €7,794 | €7,794 | €7,102 | €9,598 | ▲ 35.1% |
| Operating cash flow (approximation) | €15,461 | €32,337 | €39,530 | €45,405 | €56,394 | €69,948 | €55,232 | ▼ 21.0% |
| Investment in fixed assets (approximation) | - | €0 | -€24,213 | €0 | -€50,000 | -€15,004 | -€187,988 | ▼ 1,153% |
| Change in cash | - | €36,928 | -€105 | €61,231 | €36,760 | -€78,452 | -€34,224 | ▲ 56.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-07-2025 | full format | 21-12-2025 | 2025-00589097 |
| 31-07-2024 | full format | 17-03-2025 | 2025-00049862 |
| 31-07-2023 | full format | 05-01-2024 | 2024-00544349 |
| 31-07-2022 | full format | 15-03-2023 | 2023-00039611 |
| 31-07-2021 | full format | 28-02-2022 | 2022-07000486 |
| 31-07-2020 | full format | 08-02-2021 | 2021-05000100 |
| 31-07-2019 | full format | 23-01-2020 | 2020-02500330 |
| 31-07-2018 | micro format | 16-01-2019 | 2019-01500124 |
| 31-07-2017 | full format | 19-12-2017 | 2017-72300280 |
| 31-07-2016 | full format | 27-01-2017 | 2017-02500198 |
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Of the 82,511 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,625. 35,863 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.