CELAC
ActiveSummary
CELAC has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €155,207 and a net result of €39,404. Equity is growing by ~28.5% per year across the filed fiscal years. Its solvency ranks better than 33% of 14173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▲+10
Solvency36▲+3
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity short (current ratio 0.18 against 0.15 in 2024; short-term debt: 21.8% and cash: 2.2% of total assets), and 89% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
11%
Return on assets
2.8%
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 30-07-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 d early
2024
24 d early
2023
63 d early
2022
18 d early
2021
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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, micro schema
Equity
€155,207▲ 34.0%
2024 · €115,803
Total assets
€1.4m▼ 1.8%
2024 · €1.4m
Net result
€39,404▲ 208%
2024 · €12,798
Working capital
-€252,749▲ 5.1%
2024 · -€266,280
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
Line20212022202320242025
Operating result€55,516-€68,689▲ 23.7%€86,229▲ 25.5%€64,356▼ 25.4%€97,452▲ 51.4%
Net result€29,617-€42,005▲ 41.8%€30,383▼ 27.7%€12,798▼ 57.9%€39,404▲ 208%
Equity€30,617-€72,622▲ 137%€103,005▲ 41.8%€115,803▲ 12.4%€155,207▲ 34.0%
Total assets€1.5m-€1.5m▼ 1.3%€1.5m▼ 2.3%€1.4m▼ 1.5%€1.4m▼ 1.8%
Debt€1.5m-€1.4m▼ 4.1%€1.4m▼ 4.6%€1.3m▼ 2.6%€1.3m▼ 5.0%
Working capital-€298,655--€297,285▲ 0.5%-€277,541▲ 6.6%-€266,280▲ 4.1%-€252,749▲ 5.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 51% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.4m ▼ 2.5%
Current assets
€54,578 ▲ 17.7%
Equity and liabilities €1.4m
Equity
€155,207 ▲ 34.0%
Debt
€1.3m ▼ 5.0%
Debt's share of the balance-sheet total falls from 91.9% to 89.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€132,164▲
2024 · €99,068
Cash flow
€74,117▲
2024 · €47,511
Current ratio
0.18▲
2024 · 0.15
Debt to equity
8.07▼
2024 · 11.38
ROE
25.4%▲
2024 · 11.1%
ROA
2.8%▲
2024 · 0.9%
Interest coverage
2.94▲
2024 · 2.10
Debt ≤ 1 year
€307,327▼
2024 · €312,662
Debt > 1 year
€939,381▼
2024 · €1.0m
Income taxes
€13,135▲
2024 · €4,271
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,498 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,862 | €34,713 | €34,713 | €34,713 | €34,713 | = |
| Other operating charges640/8 | €4,945 | €477 | €8,094 | €18,052 | €9,716 | ▼ 46.2% |
| Gross operating margin9900 | €103,323 | €103,879 | €129,036 | €117,120 | €141,880 | ▲ 21.1% |
| Operating profit (loss)9901 | €55,516 | €68,689 | €86,229 | €64,356 | €97,452 | ▲ 51.4% |
| Financial charges65/66B | €18,616 | €12,308 | €47,622 | €47,287 | €44,912 | ▼ 5.0% |
| Recurring financial charges65 | €18,616 | €12,308 | €47,622 | €47,287 | €44,912 | ▼ 5.0% |
| Profit (loss) for the period before taxes9903 | €36,900 | €56,381 | €38,607 | €17,068 | €52,539 | ▲ 208% |
| Income taxes67/77 | €7,283 | €14,376 | €8,224 | €4,271 | €13,135 | ▲ 208% |
| Profit (loss) for the period9904 | €29,617 | €42,005 | €30,383 | €12,798 | €39,404 | ▲ 208% |
| Profit (loss) for the period to be appropriated9905 | €29,617 | €42,005 | €30,383 | €12,798 | €39,404 | ▲ 208% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.5m | €1.5m | €1.4m | €1.4m | ▼ 1.8% |
| Fixed assets21/28 | €1.5m | €1.5m | €1.4m | €1.4m | €1.4m | ▼ 2.5% |
| Tangible fixed assets22/27 | €1.5m | €1.5m | €1.4m | €1.4m | €1.4m | ▼ 2.5% |
| Land and buildings22 | €1.5m | €1.5m | €1.4m | €1.4m | €1.4m | ▼ 2.5% |
| Current assets29/58 | €20,357 | €33,441 | €33,628 | €46,382 | €54,578 | ▲ 17.7% |
| Amounts receivable within one year40/41 | €1,612 | €8,173 | €13,036 | €25,824 | €13,485 | ▼ 47.8% |
| Trade receivables40 | €1,612 | €8,173 | €10,760 | €22,595 | €9,891 | ▼ 56.2% |
| Other amounts receivable41 | - | - | €2,276 | €3,229 | €3,595 | ▲ 11.3% |
| Cash at bank and in hand54/58 | €18,250 | €24,739 | €12,118 | €19,934 | €30,977 | ▲ 55.4% |
| Deferred charges and accrued income490/1 | €495 | €529 | €8,474 | €623 | €10,115 | ▲ 1,523% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.5m | €1.5m | €1.4m | €1.4m | ▼ 1.8% |
| Equity10/15 | €30,617 | €72,622 | €103,005 | €115,803 | €155,207 | ▲ 34.0% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €29,617 | €71,622 | €102,005 | €114,803 | €154,207 | ▲ 34.3% |
| Distributable reserves133 | €29,617 | €71,622 | €102,005 | €114,803 | €154,207 | ▲ 34.3% |
| Amounts payable17/49 | €1.5m | €1.4m | €1.4m | €1.3m | €1.3m | ▼ 5.0% |
| Amounts payable after more than one year17 | €1.2m | €1.1m | €1.0m | €1.0m | €939,381 | ▼ 6.1% |
| Financial debts170/4 | €1.2m | €1.1m | €1.0m | €1.0m | €939,381 | ▼ 6.1% |
| Amounts payable within one year42/48 | €319,013 | €330,726 | €311,169 | €312,662 | €307,327 | ▼ 1.7% |
| Current portion of amounts payable after more than one year42 | €73,698 | €73,247 | €59,115 | €58,612 | €60,720 | ▲ 3.6% |
| Trade debts44 | €5,823 | €1,086 | €1,910 | €14,561 | €662 | ▼ 95.5% |
| Suppliers440/4 | €5,823 | €1,086 | €1,910 | €14,561 | €662 | ▼ 95.5% |
| Advances received on contracts in progress46 | - | - | - | €1,271 | €605 | ▼ 52.4% |
| Taxes, remuneration and social security45 | €13,877 | €27,224 | €20,975 | €9,048 | €7,971 | ▼ 11.9% |
| Taxes450/3 | €13,877 | €27,224 | €20,975 | €9,048 | €7,971 | ▼ 11.9% |
| Other amounts payable47/48 | €225,615 | €229,170 | €229,170 | €229,170 | €237,369 | ▲ 3.6% |
| Accrued charges and deferred income492/3 | €4,758 | €5,155 | €5,459 | €5,633 | €5,767 | ▲ 2.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,617 | €42,005 | €30,383 | €12,798 | €39,404 | ▲ 208% |
| + Depreciation and write-downs630 | €42,862 | €34,713 | €34,713 | €34,713 | €34,713 | = |
| Operating cash flow (approximation) | €72,478 | €76,718 | €65,096 | €47,511 | €74,117 | ▲ 56.0% |
| Investment in fixed assets (approximation) | - | -€2,498 | €0 | €0 | €0 | - |
| Change in cash | - | €6,489 | -€12,621 | €7,816 | €11,043 | ▲ 41.3% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €150,000Eq €155,207 ▲34%
5 profitable years in a row build equity to €155,207.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €12,798 ▼57.9%
Net result drops to €12,798, the lowest in the series; recovery starts the following year.
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €103,005 ▲41.8%
3 profitable years in a row build equity to €103,005.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2021net €42,005 ▲41.8%
Net result €42,005, the highest in the series.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · 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, Veurne · 1 establishment unit since 2020
Ground area
2,335 m²
Building footprint
817 m²
Volume, LiDAR
4,981 m³
Parcel 38025E0285/00R002, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
CELAC
since 20202.308.513.886
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025E0285/00R002 | Flanders | 2,335 m² | 1 · 817 m² | 9.9 m · 2 fl. |
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.
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,385. 3,823 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
Founded14-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.