CEL MANAGEMENT
ActiveSummary
CEL MANAGEMENT has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €63,319 and a net result of €18,085. Equity is growing by ~36.2% per year across the filed fiscal years. Its solvency ranks better than 54% of 8711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+3
Solvency82▲+15
Growth52=
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 5.79 against 3.28 in 2024; short-term debt: 14.2% and cash: 81.2% of total assets), and 42.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
57.2%
Return on assets
16.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
25 d early
2024
168 d early
2023
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 74 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€63,319▲ 40.0%
2024 · €45,235
Total assets
€110,727▲ 2.9%
2024 · €107,557
Net result
€18,085▲ 23.2%
2024 · €14,681
Working capital
€75,110▲ 51.7%
2024 · €49,505
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€24,733-€21,558▼ 12.8%€23,912▲ 10.9%
Net result€23,053-€14,681▼ 36.3%€18,085▲ 23.2%
Equity€30,553-€45,235▲ 48.1%€63,319▲ 40.0%
Total assets€97,867-€107,557▲ 9.9%€110,727▲ 2.9%
Debt€67,314-€62,322▼ 7.4%€47,407▼ 23.9%
Working capital€27,380-€49,505▲ 80.8%€75,110▲ 51.7%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110,727
Fixed assets
€19,944 ▼ 45.0%
Current assets
€90,783 ▲ 27.4%
Equity and liabilities €110,727
Equity
€63,319 ▲ 40.0%
Debt
€47,407 ▼ 23.9%
Debt's share of the balance-sheet total falls from 57.9% to 42.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€40,261▲
2024 · €37,818
Cash flow
€34,434▲
2024 · €30,942
Current ratio
5.79▲
2024 · 3.28
Debt to equity
0.75▼
2024 · 1.38
ROE
28.6%▼
2024 · 32.5%
ROA
16.3%▲
2024 · 13.6%
Interest coverage
24.40▲
2024 · 19.49
Debt ≤ 1 year
€15,673▼
2024 · €21,759
Debt > 1 year
€31,735▼
2024 · €40,563
Income taxes
€4,645▼
2024 · €5,106
Staff costs
€2,024▲
2024 · €1,728
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €59,659 | €59,675 | €68,653 | ▲ 15.0% |
| Remuneration, social security and pensions62 | €1,836 | €1,728 | €2,024 | ▲ 17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,162 | €16,260 | €16,349 | ▲ 0.5% |
| Other operating charges640/8 | €161 | €98 | €101 | ▲ 3.4% |
| Gross operating margin9900 | €38,892 | €39,644 | €42,387 | ▲ 6.9% |
| Operating profit (loss)9901 | €24,733 | €21,558 | €23,912 | ▲ 10.9% |
| Financial income75/76B | - | €170 | €468 | ▲ 175% |
| Recurring financial income75 | - | €170 | €468 | ▲ 175% |
| Financial charges65/66B | €1,680 | €1,940 | €1,650 | ▼ 14.9% |
| Recurring financial charges65 | €1,680 | €1,940 | €1,650 | ▼ 14.9% |
| Profit (loss) for the period before taxes9903 | €23,053 | €19,787 | €22,730 | ▲ 14.9% |
| Income taxes67/77 | - | €5,106 | €4,645 | ▼ 9.0% |
| Profit (loss) for the period9904 | €23,053 | €14,681 | €18,085 | ▲ 23.2% |
| Profit (loss) for the period to be appropriated9905 | €23,053 | €14,681 | €18,085 | ▲ 23.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €97,867 | €107,557 | €110,727 | ▲ 2.9% |
| Fixed assets21/28 | €52,265 | €36,293 | €19,944 | ▼ 45.0% |
| Tangible fixed assets22/27 | €52,265 | €36,293 | €19,944 | ▼ 45.0% |
| Land and buildings22 | €0 | - | - | - |
| Plant, machinery and equipment23 | €369 | €472 | €197 | ▼ 58.3% |
| Furniture and vehicles24 | €51,896 | €35,821 | €19,747 | ▼ 44.9% |
| Current assets29/58 | €45,602 | €71,264 | €90,783 | ▲ 27.4% |
| Amounts receivable within one year40/41 | €5,326 | €13,928 | €847 | ▼ 93.9% |
| Trade receivables40 | €4,840 | €11,798 | - | - |
| Other amounts receivable41 | €486 | €2,131 | €847 | ▼ 60.2% |
| Cash at bank and in hand54/58 | €39,677 | €56,740 | €89,936 | ▲ 58.5% |
| Deferred charges and accrued income490/1 | €599 | €595 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €97,867 | €107,557 | €110,727 | ▲ 2.9% |
| Equity10/15 | €30,553 | €45,235 | €63,319 | ▲ 40.0% |
| Contributions10/11 | €7,500 | €7,500 | €7,500 | = |
| Capital10 | €7,500 | €7,500 | €7,500 | = |
| Issued capital100 | €7,500 | €7,500 | €7,500 | = |
| Reserves13 | €23,053 | €37,735 | €55,819 | ▲ 47.9% |
| Distributable reserves133 | €23,053 | €37,735 | €55,819 | ▲ 47.9% |
| Amounts payable17/49 | €67,314 | €62,322 | €47,407 | ▼ 23.9% |
| Amounts payable after more than one year17 | €49,092 | €40,563 | €31,735 | ▼ 21.8% |
| Financial debts170/4 | €49,092 | €40,563 | €31,735 | ▼ 21.8% |
| Amounts payable within one year42/48 | €18,222 | €21,759 | €15,673 | ▼ 28.0% |
| Current portion of amounts payable after more than one year42 | €8,238 | €8,528 | €8,829 | ▲ 3.5% |
| Trade debts44 | €2,782 | €8,456 | €2,035 | ▼ 75.9% |
| Suppliers440/4 | €2,782 | €8,456 | €2,035 | ▼ 75.9% |
| Taxes, remuneration and social security45 | €7,202 | €4,774 | €4,809 | ▲ 0.7% |
| Taxes450/3 | €4,898 | €4,774 | €4,809 | ▲ 0.7% |
| Remuneration and social security454/9 | €2,304 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,053 | €14,681 | €18,085 | ▲ 23.2% |
| + Depreciation and write-downs630 | €12,162 | €16,260 | €16,349 | ▲ 0.5% |
| Operating cash flow (approximation) | €35,215 | €30,942 | €34,434 | ▲ 11.3% |
| Investment in fixed assets (approximation) | - | -€288 | €0 | ▲ 100% |
| Change in cash | - | €17,063 | €33,195 | ▲ 94.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
13-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €14,681 ▼36.3%
Net result drops to €14,681, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Malmedy · 2 establishment units since 2023
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Mont-Rue des Avrûles 474960 MalmedyGround area
710 m²
Building footprint
122 m²
Parcel 63552D0200/00R000, Wallonia. Linked by address, not a title deed.
2 establishment units
CEL MANAGEMENT
since 20232.340.055.318
Gîtes -Ardennes.com
since 20262.387.334.009
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63552D0200/00R000 | Wallonia | 710 m² | 1 · 122 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,583. 39,226 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-01-2023
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
01610Support activities for crop production
33120Repair and maintenance of machinery
Contact
E-mail
mm@celman.be
Scores and ratios are computed by Checked and are not a credit decision.