Ceka
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 49 filings
Equity
€12.6m▲ 2.0%
2024 · €12.4m
Total assets
€17.2m▲ 0.9%
2024 · €17.1m
Net result
€252,359
2024 · -€91,456
Working capital
€9.4m▲ 0.2%
2024 · €9.4m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€120,696
▲ 1.0%
2025
20182025
Net result
€252,359
2025
20182025
Equity
€12.6m
▲ 2.0%
2025
20182025
Total assets
€17.2m
▲ 0.9%
2025
20182025
Debt
€4.6m
▼ 2.0%
2025
20182025
Working capital
€9.4m
▲ 0.2%
2025
20182025
Staff (FTE)
0
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.2m--€0.2m▲ 1.2%-€0.1m▲ 8.1%-€0.1m▲ 7.5%-€0.1m▲ 9.2%-€0.1m▲ 3.9%-€0.1m▼ 3.9%-€0.1m▲ 1.0%
Net result-€0.2m-€0.3m-€0.8m€0.2m-€0.03m€0.1m-€0.09m€0.3m
Equity€12.7m-€12.9m▲ 2.2%€12.2m▼ 5.8%€12.4m▲ 1.7%€12.4m▼ 0.2%€12.5m▲ 0.9%€12.4m▼ 0.7%€12.6m▲ 2.0%
Total assets€12.7m-€17.4m▲ 37.1%€16.7m▼ 3.9%€16.9m▲ 1.6%€17.0m▲ 0.1%€17.1m▲ 0.8%€17.1m▼ 0.2%€17.2m▲ 0.9%
Debt€0.003m-€4.4m▲ 1,371×€4.5m▲ 1.7%€4.6m▲ 1.3%€4.6m▲ 0.9%€4.6m▲ 0.6%€4.7m▲ 1.2%€4.6m▼ 2.0%
Working capital€5.2m-€10.2m▲ 96.4%€9.9m▼ 3.2%€10.0m▲ 0.9%€9.9m▼ 1.4%€9.7m▼ 2.0%€9.4m▼ 2.4%€9.4m▲ 0.2%
Staff (FTE)0
The operating result for 2025 is a loss of €120,696, smaller than the loss of €121,906 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17.2m
Fixed assets
€7.6m ▲ 3.2%
Current assets
€9.6m ▼ 0.8%
Equity and liabilities €17.2m
Equity
€12.6m ▲ 2.0%
Debt
€4.6m ▼ 2.0%
Debt's share of the balance-sheet total falls from 27.5% to 26.7%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
53.42▲
2024 · 35.59
Debt to equity
0.36▼
2024 · 0.38
ROE
2.0%▲
2024 · -0.7%
ROA
1.5%▲
2024 · -0.5%
Debt ≤ 1 year
€180,025▼
2024 · €272,335
Debt > 1 year
€4.4m=
2024 · €4.4m
Income taxes
€23,355▼
2024 · €33,813
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €236,473 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0.007m | €0.006m | €0.005m | €0.006m | €0.001m | ▼ 80.3% |
| Gross operating margin9900 | -€0.2m | -€0.2m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | ▼ 2.9% |
| Operating profit (loss)9901 | -€0.2m | -€0.2m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | ▲ 1.0% |
| Financial income75/76B | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.9% |
| Recurring financial income75 | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.9% |
| Financial charges65/66B | - | - | - | €0.05m | €0.3m | €0.2m | €0.4m | €0.003m | ▼ 99.2% |
| Recurring financial charges65 | €0.4m | -€0.1m | €1.0m | €0.05m | €0.3m | €0.2m | €0.4m | €0.003m | ▼ 99.2% |
| Profit (loss) for the period before taxes9903 | -€0.2m | €0.3m | -€0.7m | €0.2m | -€0.03m | €0.1m | -€0.06m | €0.3m | - |
| Income taxes67/77 | - | €0.01m | €0.03m | - | - | €0.03m | €0.03m | €0.02m | ▼ 30.9% |
| Profit (loss) for the period9904 | -€0.2m | €0.3m | -€0.8m | €0.2m | -€0.03m | €0.1m | -€0.09m | €0.3m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | €0.3m | -€0.8m | €0.2m | -€0.03m | €0.1m | -€0.09m | €0.3m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12.7m | €17.4m | €16.7m | €16.9m | €17.0m | €17.1m | €17.1m | €17.2m | ▲ 0.9% |
| Fixed assets21/28 | €7.4m | €7.1m | €6.7m | €6.8m | €6.9m | €7.2m | €7.4m | €7.6m | ▲ 3.2% |
| Financial fixed assets28 | €7.4m | €7.1m | €6.7m | €6.8m | €6.9m | €7.2m | €7.4m | €7.6m | ▲ 3.2% |
| Current assets29/58 | €5.2m | €10.2m | €10.0m | €10.1m | €10.0m | €9.9m | €9.7m | €9.6m | ▼ 0.8% |
| Amounts receivable after more than one year29 | - | - | - | €2.6m | €4.4m | €4.4m | €4.4m | €3.5m | ▼ 20.8% |
| Other amounts receivable291 | - | - | - | €2.6m | €4.4m | €4.4m | €4.4m | €3.5m | ▼ 20.8% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.3m | €0.2m | €0.5m | ▲ 178% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.3m | €0.2m | €0.5m | ▲ 178% |
| Current investments50/53 | €2.4m | €7.0m | €5.8m | €5.9m | €4.8m | €4.8m | €4.6m | €4.8m | ▲ 4.2% |
| Cash at bank and in hand54/58 | €0.7m | €0.5m | €0.4m | €1.5m | €0.7m | €0.4m | €0.5m | €0.8m | ▲ 67.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.003m | €0.003m | €0.002m | €0.002m | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12.7m | €17.4m | €16.7m | €16.9m | €17.0m | €17.1m | €17.1m | €17.2m | ▲ 0.9% |
| Equity10/15 | €12.7m | €12.9m | €12.2m | €12.4m | €12.4m | €12.5m | €12.4m | €12.6m | ▲ 2.0% |
| Contributions10/11 | €0.4m | €0.4m | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €12.2m | €12.5m | €11.7m | €12.0m | €11.9m | €12.0m | €12.0m | €12.2m | ▲ 2.1% |
| Non-distributable reserves130/1 | - | - | - | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Reserves not available under the articles1311 | - | - | - | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | = |
| Own shares acquired1312 | - | - | - | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Other1319 | - | - | - | €0.03m | €0.03m | €0.03m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €9.2m | €9.1m | €9.3m | €9.2m | €9.5m | ▲ 2.7% |
| Profit (loss) carried forward14 | €0.001m | €0.001m | €0.001m | €0.001m | €236 | €243 | - | - | - |
| Amounts payable17/49 | €0.003m | €4.4m | €4.5m | €4.6m | €4.6m | €4.6m | €4.7m | €4.6m | ▼ 2.0% |
| Amounts payable after more than one year17 | - | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | = |
| Financial debts170/4 | - | - | - | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | = |
| Amounts payable within one year42/48 | €0.003m | €0.01m | €0.09m | €0.1m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 33.9% |
| Trade debts44 | €0.003m | €0.005m | €0.02m | €0.01m | €0.004m | €0.004m | €0.005m | €0.003m | ▼ 23.3% |
| Suppliers440/4 | - | - | - | €0.01m | €0.004m | €0.004m | €0.005m | €0.003m | ▼ 23.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.05m | €0.05m | €0.09m | €0.05m | ▼ 39.0% |
| Taxes450/3 | - | - | - | €0.05m | €0.05m | €0.05m | €0.09m | €0.05m | ▼ 39.0% |
| Other amounts payable47/48 | - | - | - | €0.08m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 31.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | €0.3m | -€0.8m | €0.2m | -€0.03m | €0.1m | -€0.09m | €0.3m | - |
| Operating cash flow (approximation) | -€0.2m | €0.3m | -€0.8m | €0.2m | -€0.03m | €0.1m | -€0.09m | €0.3m | - |
| Investment in fixed assets (approximation) | - | €0.3m | €0.4m | -€0.1m | -€0.1m | -€0.3m | -€0.1m | -€0.2m | ▼ 69.5% |
| Change in cash | - | -€0.1m | -€0.1m | €1.1m | -€0.8m | -€0.3m | €0.005m | €0.3m | ▲ 57× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,887 companies had the same profile as Ceka has now. Two years later, 97.9% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
97.9%
was still going
2.0%
stopped otherwise
0.1%
went bankrupt
That fits the bankruptcy probability of Ceka itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,887 companies, not a prediction for Ceka. 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.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00204121 | |
| 31-12-2024 | abbreviated format | 20-10-2025 | 2025-00545479 | |
| 31-12-2023 | abbreviated format | 31-08-2024 | 2024-00446341 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00393232 | |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20243552 | |
| 31-12-2020 | abbreviated format | 01-07-2021 | 2021-28100056 | |
| 31-12-2019 | micro format | 20-04-2020 | 2020-09300547 | |
| 31-12-2018 | micro format | 28-05-2019 | 2019-14800553 | |
| 31-12-2017 | micro format | 20-06-2018 | 2018-21200129 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-24200295 |