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CELABOR

Active
Private limited companyfounded 1995active for 31 yearsAvenue du Parc 38, 4650 Herve, BelgiumKBO/BCE: BE 0455.511.010
Summary

CELABOR has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €396,523. Equity is growing by about 4.5% per year across the filed financial years. Its solvency ranks better than 29% of 2,547 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Financials · financial year 2025, abbreviated format

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€396,523▲ 3.4%
2024 · €383,552
Working capital
€316,576▼ 5.2%
2024 · €333,896
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result falls in 2025; 2025 is 20% below 2024.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€0.3m 2025 Net result€0.4m 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: 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), Staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.05m-€0.03m▼ 40.0%€0.07m▲ 143%€0.08m▲ 18.8%€0.06m▼ 31.4%€0.09m▲ 63.8%€0.4m▲ 307%€0.3m▼ 20.2%
Net result€0.04m-€0.02m▼ 51.0%€0.06mwithin the sector's middle half▲ 162%€0.07mwithin the sector's middle half▲ 25.1%€0.04mwithin the sector's middle half▼ 40.5%-€0.3mbelow the sector's middle half€0.4mabove the sector's middle half€0.4mabove the sector's middle half▲ 3.4%
Equity€1.0m-€1.0m▲ 2.1%€1.1mabove the sector's middle half▲ 5.4%€1.2mabove the sector's middle half▲ 6.4%€1.2mabove the sector's middle half▲ 3.6%€0.9mwithin the sector's middle half▼ 27.3%€1.2mabove the sector's middle half▲ 33.2%€1.6mabove the sector's middle half▲ 34.1%
Total assets€3.8m-€4.0m▲ 6.0%€4.4mabove the sector's middle half▲ 9.8%€4.6mabove the sector's middle half▲ 4.1%€5.8mabove the sector's middle half▲ 25.3%€5.5mabove the sector's middle half▼ 4.3%€5.3mabove the sector's middle half▼ 3.5%€5.9mabove the sector's middle half▲ 10.2%
Debt€2.8m-€3.0m▲ 7.4%€3.3m▲ 11.3%€3.4m▲ 3.4%€4.6m▲ 32.6%€4.6m▲ 1.8%€4.2m▼ 10.4%€4.3m▲ 3.5%
Working capital€0.5m-€0.4m▼ 17.9%€0.4mwithin the sector's middle half▲ 16.7%€0.3mwithin the sector's middle half▼ 35.8%€0.4mwithin the sector's middle half▲ 30.9%€0.4mwithin the sector's middle half▲ 12.0%€0.3mwithin the sector's middle half▼ 18.3%€0.3mwithin the sector's middle half▼ 5.2%
Solvency26.7%-25.7%▼ 1.0pp24.7%within the sector's middle half▼ 1.0pp25.2%within the sector's middle half▲ 0.5pp20.9%within the sector's middle half▼ 4.4pp15.8%below the sector's middle half▼ 5.0pp21.9%within the sector's middle half▲ 6.0pp26.6%within the sector's middle half▲ 4.7pp
Current ratio1.27-1.20▼ 0.061.19within the sector's middle half▼ 0.011.12within the sector's middle half▼ 0.081.11within the sector's middle half▼ 0.011.12within the sector's middle half▲ 0.011.11within the sector's middle half▼ 0.021.10within the sector's middle half▼ 0.01
Return on assets (ROA)1.1%-0.5%▼ 0.6pp1.3%within the sector's middle half▲ 0.7pp1.5%within the sector's middle half▲ 0.3pp0.7%within the sector's middle half▼ 0.8pp-6.0%below the sector's middle half▼ 6.7pp7.2%within the sector's middle half▲ 13.2pp6.8%within the sector's middle half▼ 0.4pp
Staff (FTE)42.9-47.2▲ 10.0%47.2above the sector's middle half=48.9above the sector's middle half▲ 3.6%47.2above the sector's middle half▼ 3.5%47.4above the sector's middle half▲ 0.4%51.1above the sector's middle half▲ 7.8%52.2above the sector's middle half▲ 2.2%
above within below the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.9m
Fixed assets €2.3m ▲ 28.2%
Current assets €3.5m ▲ 0.9%
Equity and liabilities €5.9m
Equity €1.6m ▲ 34.1%
Debt €4.3m ▲ 3.5%
Debt's share of the balance-sheet total falls from 78.1% to 73.4%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€3.5m▲
2024 · €785,220
Cash flow
€3.6m▲
2024 · €788,451
Quick ratio
0.81▲
2024 · 0.58
Debt to equity
2.76▼
2024 · 3.57
ROE
25.4%▼
2024 · 33.0%
Interest coverage
over 100▲
2024 · 35.86
Debt ≤ 1 year
€3.2m▲
2024 · €3.2m
Debt > 1 year
€203,851▼
2024 · €237,776
Income taxes
-€87,316▼
2024 · €594
Staff costs
€3.8m▲
2024 · €3.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 378 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 97.4% are still going.

  • Medium-sized
  • 20 years or older
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
0.3% went bankrupt
2.4% stopped otherwise
97.4% still going

For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 378 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 63 lines
Balance sheet Code20242025
Assets
Total assets20/58€5.3m€5.9m▲
Fixed assets21/28€1.8m€2.3m▲
Intangible fixed assets21€0€0.001m▲
Tangible fixed assets22/27€1.8m€2.3m▲
Land and buildings22€0.8m€0.9m▲
Plant, machinery and equipment23€0.8m€1.2m▲
Furniture and vehicles24€0.02m€0.1m▲
Assets under construction and advance payments27€0.2m€0.06m▼
Financial fixed assets28€0.04m€0.05m▲
Current assets29/58€3.5m€3.5m▲
Amounts receivable after more than one year29-€0.1m
Other amounts receivable291-€0.1m
Stocks and contracts in progress3€1.7m€0.9m▼
Contracts in progress37€1.7m€0.9m▼
Amounts receivable within one year40/41€0.8m€1.0m▲
Trade receivables40€0.8m€0.9m▲
Other amounts receivable41€0.01m€0.04m▲
Current investments50/53€0.7m€1.4m▲
Cash at bank and in hand54/58€0.3m€0.1m▼
Deferred charges and accrued income490/1€0.1m€0.09m▼
Equity and liabilities
Total equity and liabilities10/49€5.3m€5.9m▲
Equity10/15€1.2m€1.6m▲
Contributions10/11€0.4m€0.4m=
Reserves13€0.04m€0.04m=
Non-distributable reserves130/1€0.04m€0.04m=
Reserves not available under the articles1311€0.04m€0.04m=
Profit (loss) carried forward14€0.8m€1.1m▲
Investment grants15€0.002m€0.002m=
Amounts payable17/49€4.2m€4.3m▲
Amounts payable after more than one year17€0.2m€0.2m▼
Financial debts170/4€0.2m€0.2m▼
Amounts payable within one year42/48€3.2m€3.2m▲
Current portion of amounts payable after more than one year42€0.4m€0.4m▲
Trade debts44€0.3m€0.3m▲
Suppliers440/4€0.3m€0.3m▲
Advances received on contracts in progress46€1.9m€2.0m▲
Taxes, remuneration and social security45€0.5m€0.5m▲
Taxes450/3€0.04m€0.04m▼
Remuneration and social security454/9€0.5m€0.5m▲
Other amounts payable47/48€0.09m€0▼
Accrued charges and deferred income492/3€0.7m€0.9m▲
Income statement Code20242025
Remuneration, social security and pensions62€3.6m€3.8m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.4m€3.2m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.001m-€0.03m▼
Other operating charges640/8€0.07m€0.1m▲
Non-recurring operating charges66A€198€0▼
Gross operating margin9900€4.4m€7.3m▲
Operating profit (loss)9901€0.4m€0.3m▼
Financial income75/76B€0.03m€0.03m▲
Recurring financial income75€0.03m€0.03m▲
Financial charges65/66B€0.02m€0.02m▲
Recurring financial charges65€0.02m€0.02m▲
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€0.4m€0.3m▼
Income taxes67/77€0.001m-€0.09m▼
Profit (loss) for the period9904€0.4m€0.4m▲
Profit (loss) for the period to be appropriated9905€0.4m€0.4m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.8m€1.1m▲
Profit (loss) brought forward from the previous period14P€0.5m€0.8m▲
Profit to be distributed694/7€0.09m€0▼
Return on contributions (dividend)694€0.05m€0▼
Employees696€0.05m€0▼
Social balance sheet
Average headcount (FTE)908751.152.2▲

The notes to these accounts (25 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
Non-recurring operating income76A---€0.03m€0----
Remuneration, social security and pensions62---€3.0m€3.0m€3.3m€3.6m€3.8m▲ 5.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.3m€0.2m€0.2m€0.3m€0.4m€0.4m€0.4m€3.2m▲ 679%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4----€424€0.04m-€0.004m€0.001m-€0.03m-
Other operating charges640/8---€0.07m€0.07m€0.06m€0.07m€0.1m▲ 57.8%
Non-recurring operating charges66A---€0--€198€0▼ 100%
Gross operating margin9900€3.0m€3.2m€3.4m€3.4m€3.5m€3.8m€4.4m€7.3m▲ 65.1%
Operating profit (loss)9901€0.05m€0.03m€0.07m€0.08m€0.06m€0.09m€0.4m€0.3m▼ 20.2%
Financial income75/76B---€22€0.002m€0.02m€0.03m€0.03m▲ 12.8%
Recurring financial income75€92€22€0.001m€22€0.002m€0.02m€0.03m€0.03m▲ 12.8%
Financial charges65/66B---€0.01m€0.02m€0.4m€0.02m€0.02m▲ 6.9%
Recurring financial charges65€0.004m€0.007m€0.01m€0.01m€0.02m€0.3m€0.02m€0.02m▲ 6.9%
Non-recurring financial charges66B-----€0.1m€0--
Profit (loss) for the period before taxes9903€0.04m€0.02m€0.06m€0.07m€0.04m-€0.3m€0.4m€0.3m▼ 19.5%
Income taxes67/77€343€434€355€356€361€0.001m€0.001m-€0.09m-
Profit (loss) for the period9904€0.04m€0.02m€0.06m€0.07m€0.04m-€0.3m€0.4m€0.4m▲ 3.4%
Profit (loss) for the period to be appropriated9905€0.04m€0.02m€0.06m€0.07m€0.04m-€0.3m€0.4m€0.4m▲ 3.4%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€3.8m€4.0m€4.4m€4.6m€5.8m€5.5m€5.3m€5.9m▲ 10.2%
Formation expenses20€0--------
Fixed assets21/28€1.6m€1.8m€1.7m€1.9m€2.1m€1.7m€1.8m€2.3m▲ 28.2%
Intangible fixed assets21€0.01m€0.006m€0.003m€0.06m€0.04m€0.01m€0€0.001m-
Tangible fixed assets22/27€1.5m€1.6m€1.5m€1.7m€1.9m€1.7m€1.8m€2.3m▲ 28.3%
Land and buildings22---€1.0m€0.9m€0.9m€0.8m€0.9m▲ 11.4%
Plant, machinery and equipment23---€0.6m€0.9m€0.8m€0.8m€1.2m▲ 51.6%
Furniture and vehicles24---€0.03m€0.04m€0.03m€0.02m€0.1m▲ 579%
Assets under construction and advance payments27---€0.01m€0-€0.2m€0.06m▼ 65.3%
Financial fixed assets28€0.2m€0.2m€0.2m€0.2m€0.2m€0.04m€0.04m€0.05m▲ 23.8%
Current assets29/58€2.2m€2.2m€2.7m€2.7m€3.7m€3.8m€3.5m€3.5m▲ 0.9%
Amounts receivable after more than one year29-------€0.1m-
Other amounts receivable291-------€0.1m-
Stocks and contracts in progress3€0€1.1m€1.3m€1.3m€1.5m€1.8m€1.7m€0.9m▼ 44.7%
Contracts in progress37---€1.3m€1.5m€1.8m€1.7m€0.9m▼ 44.7%
Amounts receivable within one year40/41€1.0m€0.6m€0.8m€1.0m€1.2m€0.8m€0.8m€1.0m▲ 21.5%
Trade receivables40---€0.8m€1.0m€0.8m€0.8m€0.9m▲ 18.0%
Other amounts receivable41---€0.1m€0.2m€0.005m€0.01m€0.04m▲ 260%
Current investments50/53€0----€0.6m€0.7m€1.4m▲ 96.4%
Cash at bank and in hand54/58€0.5m€0.4m€0.6m€0.4m€0.9m€0.5m€0.3m€0.1m▼ 63.0%
Deferred charges and accrued income490/1---€0.05m€0.07m€0.07m€0.1m€0.09m▼ 8.7%
Equity and liabilities
Total equity and liabilities10/49€3.8m€4.0m€4.4m€4.6m€5.8m€5.5m€5.3m€5.9m▲ 10.2%
Equity10/15€1.0m€1.0m€1.1m€1.2m€1.2m€0.9m€1.2m€1.6m▲ 34.1%
Contributions10/11€0.4m€0.4m€0.4m€0.4m€0.4m€0.4m€0.4m€0.4m=
Capital10---€0.4m€0.4m----
Issued capital100---€0.4m€0.4m----
Reserves13€0.04m€0.04m€0.04m€0.04m€0.04m€0.04m€0.04m€0.04m=
Non-distributable reserves130/1---€0.04m€0.04m€0.04m€0.04m€0.04m=
Legal reserve130---€0.04m€0.04m----
Reserves not available under the articles1311-----€0.04m€0.04m€0.04m=
Profit (loss) carried forward14€0.6m€0.6m€0.7m€0.8m€0.8m€0.5m€0.8m€1.1m▲ 52.7%
Investment grants15---€0.002m€0.002m€0.002m€0.002m€0.002m=
Provisions and deferred taxes16€0--------
Amounts payable17/49€2.8m€3.0m€3.3m€3.4m€4.6m€4.6m€4.2m€4.3m▲ 3.5%
Amounts payable after more than one year17€0€0.1m€0.1m€0.2m€0.5m€0.3m€0.2m€0.2m▼ 14.3%
Financial debts170/4---€0.2m€0.5m€0.3m€0.2m€0.2m▼ 14.3%
Amounts payable within one year42/48€1.7m€1.8m€2.3m€2.4m€3.3m€3.4m€3.2m€3.2m▲ 1.5%
Current portion of amounts payable after more than one year42---€0.3m€0.3m€0.2m€0.4m€0.4m▲ 9.2%
Financial debts43---€0-----
Credit institutions430/8---€0-----
Trade debts44€0.2m€0.2m€0.2m€0.1m€0.1m€0.1m€0.3m€0.3m▲ 1.0%
Suppliers440/4---€0.1m€0.1m€0.1m€0.3m€0.3m▲ 1.0%
Advances received on contracts in progress46---€1.6m€2.4m€2.6m€1.9m€2.0m▲ 5.0%
Taxes, remuneration and social security45---€0.4m€0.5m€0.5m€0.5m€0.5m▲ 1.8%
Taxes450/3---€0.001m€0.03m€0.05m€0.04m€0.04m▼ 6.9%
Remuneration and social security454/9---€0.4m€0.4m€0.5m€0.5m€0.5m▲ 2.5%
Other amounts payable47/48---€0--€0.09m€0▼ 100%
Accrued charges and deferred income492/3---€0.8m€0.8m€0.9m€0.7m€0.9m▲ 17.6%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.04m€0.02m€0.06m€0.07m€0.04m-€0.3m€0.4m€0.4m▲ 3.4%
+ Depreciation and write-downs630€0.3m€0.2m€0.2m€0.3m€0.4m€0.4m€0.4m€3.2m▲ 679%
Operating cash flow (approximation)€0.3m€0.2m€0.3m€0.4m€0.4m€0.1m€0.8m€3.6m▲ 351%
Investment in fixed assets (approximation)--€0.4m-€0.1m-€0.5m-€0.5m-€0.07m-€0.5m-€3.7m▼ 627%
Change in cash--€0.1m€0.2m-€0.2m€0.5m-€0.4m-€0.3m-€0.2m▲ 36.5%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 30 filings with the National Bank
Financial year Type Filed Reference
31-12-2025 abbreviated format 22-06-2026 2026-00190688
31-12-2024 full format 07-07-2025 2025-00242838
31-12-2023 full format 25-06-2024 2024-00158988
31-12-2022 full format 20-06-2023 2023-00143116
31-12-2021 full format 01-06-2022 2022-20045220
31-12-2020 full format 15-06-2021 2021-19700336
31-12-2019 full format 10-06-2020 2020-15900386
31-12-2018 full format 17-06-2019 2019-19800513
31-12-2017 full format 11-06-2018 2018-18000484
31-12-2016 full format 06-06-2017 2017-14900312

Show all 30 filings

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Integrated cascades of PROcesses for the extraction and valorisation of proteins and bioactive molecules from Legumes, Fungi and Coffee agro-industrial side streams
Horizon 2020 · participant · 01-09-2018 to 31-10-2022 · €514,809 · Prolific
4Sir2 Smoothy: Building a Healthy Drink Ecosystem to Prevent Childhood Obesity
Horizon Europe · participant · 01-09-2025 to 28-02-2030 · €504,588 · 4Sir2
MODELLING TOOL FOR GIVING VALUE TO AGRI-FOOD RESIDUAL STREAMS IN BIO-BASED INDUSTRIES
Horizon 2020 · participant · 01-05-2020 to 31-10-2023 · €485,370 · MODEL2BIO
Curing contaminated and saline land with Industrial crops and producing biomass for high-value applications
Horizon Europe · participant · 01-10-2024 to 30-09-2028 · €441,750 · IASIS
Halophyte Biorefinery Process for Sustainable Production of Textiles, Composites, and High-Value Biochemicals
Horizon Europe · participant · 01-05-2025 to 30-04-2029 · €410,338 · HALO-TEX
OCEAN COMPUTATIONAL EXPLORATION AND ANALYTICS FOR THE NOVEL BIOACTIVE MOLECULES’ DISCOVERY AND THEIR EXPLOITATION IN COSMETICS
Horizon Europe · participant · 01-06-2026 to 31-05-2030 · €399,350 · OCEOMICS
Biopolymers with advanced functionalities for building and automotive parts processed through additive manufacturing
Horizon 2020 · participant · 01-05-2017 to 31-10-2020 · €397,188 · BARBARA
Integrated on-farm Aquaponics systems for co-production of fish, halophyte vegetables, bioactive compounds, and bioenergy
Horizon 2020 · participant · 01-10-2019 to 31-12-2023 · €357,875 · AQUACOMBINE
Progressive Solutions for European Feed Autonomy through Sustainable Plant Protein Value Chains
Horizon Europe · participant · 01-10-2026 to 30-09-2030 · €346,663 · ProFEED
MYcelium-based COmplete Protein STRUCTures for Whole-Cut Scale-Up
Horizon Europe · participant · 01-05-2026 to 30-04-2029 · €346,022 · MycoStruct
SmartAqua4FuturE - SAFE
Horizon Europe · participant · 01-11-2022 to 31-10-2026 · €342,350 · SAFE
ECO sustainable multi FUNctional biobased COATings with enhanced performance and end of life options
Horizon 2020 · participant · 01-05-2019 to 31-07-2022 · €324,925 · ECOFUNCO
Advanced Filtration TEchnologies for the Recovery and Later conversIon of relevant Fractions from wastEwater
Horizon 2020 · participant · 01-09-2017 to 28-02-2022 · €309,876 · AFTERLIFE
ALGANOVA – Advanced aLGAe biorefiNery for circular prOtein and food ingredient production through CO2 and food by-products VAlorisation
Horizon Europe · participant · 01-06-2026 to 31-05-2030 · €294,000 · ALGANOVA
DESign of bio-based Thermoset polymer with rEcycLing capabiLity by dynAmic bonds for bio-composite manufacturing
Horizon Europe · participant · 01-06-2022 to 30-11-2025 · €241,350 · ESTELLA
Biocarbon based Polymers for Sustainable Material Development
Horizon Europe · associated partner · 01-03-2023 to 30-11-2027 · D-Carbonize
Mapping the Uncharted Human Metabolism for Novel Food Bioactives
Horizon Europe · associated partner · 01-11-2025 to 31-10-2029 · BioTransform

Public contracts

2 awards · 2019 to 2025
ondersteuning bij opstellen van bestekken textiel en uitvoeren van laboratoriumtesten textiel: 2025 R3 014 - perceel 1
buyer: Federale PolitieArchitectural, engineering and inspection servicesawarded 12-08-2025€380,1601 tenderTED 551097-2025
Station d'épuration de Liège-Sclessin — Valorisation en agriculture par épandage contrôlé des boues d'épuration: Prélèvements et analyses des boues
buyer: L'association intercommunale pour le démergement et l'épurationSewage, refuse, cleaning and environmental servicesawarded 01-01-2019€17,7481 tenderTED 122687-2019

Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.