CELAN
ActiveSummary
CELAN has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €896,530 and a net result of -€11,047. Equity remains stable across the filed financial years (±0.9% per year). Its solvency ranks better than 46% of 9,770 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €896,530
- Loss
- -€11,047
- Parent
- ROTNACUM · 52%
- Vanmeerhaeghe FabienneManaging director
- Panagiotis CHARALAMPIDISDirector
- ROTNACUMManaging director · permanent representative Vanmeerhaeghe Fabienne
Why 86raises riskLiquidity: current ratio 0.00, cash €625lowers riskFounded in 1994Size: total assets €2.3mLegal form: public limited companyShow the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small): better than 46% on solvency, 16% on liquidity, 22% on profitability and 28% on growth.
The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 19 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
- Appointment: PRAET Danny (vertegenwoordiger van de…Auditor report · Capital increase…
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €10,910 in 2025 against €23,560 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: 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).
Peer companies
Historical observationOf the 8,617 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94.2% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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 8,617 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,005 | €7,405 | €7,405 | €7,405 | €7,405 | €7,405 | - | - | - |
| Other operating charges640/8 | - | - | - | €4,244 | €5,441 | €5,115 | €4,379 | €1,518 | ▼ 65.3% |
| Gross operating margin9900 | €6,755 | €1,890 | €15,161 | €12,400 | -€9,702 | -€18,094 | -€19,182 | -€9,393 | ▲ 51.0% |
| Operating profit (loss)9901 | -€6,236 | -€9,952 | €3,332 | €751 | -€22,548 | -€30,614 | -€23,560 | -€10,910 | ▲ 53.7% |
| Financial income75/76B | - | - | - | €26 | €24 | €77 | €43,779 | - | - |
| Recurring financial income75 | €786 | - | - | €26 | €24 | €77 | €38 | - | - |
| Non-recurring financial income76B | - | - | - | - | - | - | €43,741 | - | - |
| Financial charges65/66B | - | - | - | €93 | €81 | €335 | €83 | €136 | ▲ 63.6% |
| Recurring financial charges65 | €77 | €154 | €1,561 | €93 | €81 | €335 | €83 | €136 | ▲ 63.6% |
| Profit (loss) for the period before taxes9903 | -€5,527 | -€10,106 | €1,770 | €683 | -€22,605 | -€30,872 | €20,135 | -€11,047 | - |
| Income taxes67/77 | - | - | - | - | - | €6,091 | - | - | - |
| Profit (loss) for the period9904 | -€5,527 | -€10,106 | €1,770 | €683 | -€22,605 | -€36,963 | €20,135 | -€11,047 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,527 | -€10,106 | €1,770 | €683 | -€22,605 | -€36,963 | €20,135 | -€11,047 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | €2.3m | €2.3m | ▲ 0.1% |
| Fixed assets21/28 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €2.3m | €2.3m | = |
| Intangible fixed assets21 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €2.0m | €2.0m | = |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | = |
| Land and buildings22 | - | - | - | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | = |
| Current assets29/58 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €0.001m | €0.003m | ▲ 102% |
| Amounts receivable within one year40/41 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €0.001m | €0.002m | ▲ 69.7% |
| Trade receivables40 | - | - | - | €1.0m | €1.0m | €1.0m | €296 | €0.002m | ▲ 419% |
| Other amounts receivable41 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €400 | ▼ 52.6% |
| Cash at bank and in hand54/58 | €0.004m | €0.001m | €0.007m | €0.01m | €0.001m | €292 | €124 | €0.001m | ▲ 402% |
| Deferred charges and accrued income490/1 | - | - | - | €68 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | €2.3m | €2.3m | ▲ 0.1% |
| Equity10/15 | €1.0m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▼ 1.2% |
| Contributions10/11 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Capital10 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Issued capital100 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Reserves13 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Non-distributable reserves130/1 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Legal reserve130 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Profit (loss) carried forward14 | €0.05m | €0.04m | €0.04m | €0.04m | €0.02m | -€0.02m | -€0.001m | -€0.01m | ▼ 1,220% |
| Amounts payable17/49 | €1.5m | €1.4m | €1.4m | €1.5m | €1.4m | €1.5m | €1.4m | €1.4m | ▲ 0.9% |
| Amounts payable within one year42/48 | €1.5m | €1.4m | €1.4m | €1.5m | €1.4m | €1.5m | €1.4m | €1.4m | ▲ 1.0% |
| Trade debts44 | €0.01m | €0.004m | €0.03m | €0.001m | €0.004m | €0.005m | €0.007m | €0.006m | ▼ 3.7% |
| Suppliers440/4 | - | - | - | €0.001m | €0.004m | €0.005m | €0.007m | €0.006m | ▼ 3.7% |
| Advances received on contracts in progress46 | - | - | - | €0.02m | €0.009m | €0.009m | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €81 | €0.003m | - | - | - |
| Taxes450/3 | - | - | - | - | €81 | €0.003m | - | - | - |
| Other amounts payable47/48 | - | - | - | €1.4m | €1.4m | €1.5m | €1.4m | €1.4m | ▲ 1.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.003m | €0.002m | €0.002m | €67 | ▼ 96.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,527 | -€10,106 | €1,770 | €683 | -€22,605 | -€36,963 | €20,135 | -€11,047 | - |
| + Depreciation and write-downs630 | €8,005 | €7,405 | €7,405 | €7,405 | €7,405 | €7,405 | - | - | - |
| Operating cash flow (approximation) | €2,477 | -€2,701 | €9,175 | €8,088 | -€15,201 | -€29,558 | €20,135 | -€11,047 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | -€862,002 | €0 | - |
| Change in cash | - | -€3,509 | €6,041 | €4,824 | -€10,282 | -€797 | -€167 | €500 | - |
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 31 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-07-2026 | 2026-00316881 |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00280011 |
| 31-12-2023 | micro format | 21-06-2024 | 2024-00147735 |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00266082 |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20066471 |
| 31-12-2020 | micro format | 17-06-2021 | 2021-20600313 |
| 31-12-2019 | micro format | 25-08-2020 | 2020-43800510 |
| 31-12-2018 | micro format | 23-07-2019 | 2019-35900422 |
| 31-12-2017 | abbreviated format | 22-08-2018 | 2018-48200100 |
| 31-12-2016 | micro format | 25-07-2017 | 2017-34700235 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Day-to-day management 2
Permanent representatives 2
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- Permanent representative
- began earlier
| Name | Functions and periods |
|---|---|
| Panagiotis CHARALAMPIDIS |
|
| ROTNACUM |
|
| Vanmeerhaeghe Fabienne |
|
| PRAET Danny |
|
Owners and capital
Owners
1 ownerChain of control
- ROTNACUM
- CELAN
Highest known parent: ROTNACUM. The sources do not say who stands above it.
Owners 1
- ROTNACUMparentSourceaccounts ROTNACUM 202352%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- VANMEERHAEGHE Fabienne €689,237.26 from reserves
- CHARALAMPIDIS Panagiotis €634,869.94 from reserves
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 11-08-2026 Capital increase of €1,324,107.20 · to €2,150,000 · no new shares · in kind
- 23-01-2024 Capital stated in the deed · €825,892.81 · 755 shares
Group and network
Connections & network
3 current directorsThe board mandates are listed below; here you explore them as a network.
History
Acts, filings and financial milestones
11-08
Gazette deed
Appointment: PRAET Danny (vertegenwoordiger van de besloten vennootschap)Auditor report · Capital increase · Capital8 facts ▸
- General meeting, 05-08-2026
- Auditor appointment, PRAET Danny (vertegenwoordiger van de besloten vennootschap)
- Auditor report, 28-02-2026
- Capital increase, €1,324,107.20
- Capital, €2,150,000
- Amendment of the articles, 5
- Board meeting, “de genomen besluiten uit te voeren, de statuten en de over-gangsbepalingen te coördine-ren en de gecoördineerde tekst neer te leggen overeenkomstig de wettelijk…” (deed in Dutch)
- Power of attorney, D&D FISC
24-04
Gazette deed
Resignation: Rotnacum NV (director)Appointment: Vanmeerhaeghe Fabienne (director) · Director discharge7 facts ▸
- General meeting, 01-04-2024
- Director resignation, Rotnacum NV (director)
- Director appointment, Vanmeerhaeghe Fabienne (director)
- Board meeting, “Raad van Bestuur” (deed in Dutch)
- Director resignation, Rotnacum NV (managing director)
- Director discharge, Rotnacum NV
- Director appointment, Vanmeerhaeghe Fabienne (managing director)
23-01
Gazette deed
Resignations: ROTNACUM (director) and Panagiotis CHARALAMPIDIS (director)Reappointments: ROTNACUM (director) and Panagiotis CHARALAMPIDIS (director) · Permanent representative: VANMEERHAEGHE Fabienne · Amendment of the articles12 facts ▸
- General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
- Amendment of the articles (2 times)
- Purpose change
- Capital, €825,892.81
- Director resignation, ROTNACUM (director)
- Director resignation, Panagiotis CHARALAMPIDIS (director)
- Director reappointment, ROTNACUM (director (not named in the articles))
- Director reappointment, Panagiotis CHARALAMPIDIS (director (not named in the articles))
- Permanent representative, VANMEERHAEGHE Fabienne
- Other provision, “uitoefening van hun mandaat, kwijting ontslagnemende bestuurders” (deed in Dutch)
- Director reappointment, ROTNACUM (managing director)
- Registered office clause, “9600 Ronse,Jules Bordetlaan 52” (deed in Dutch)
Show earlier events
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 45422C0179/00E000 | Flanders | 1,422 m² | 1 · 218 m² | 9.6 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Bemiddelaar in aankoop/verkoop farmaceutische producten,medische apparatuur en materieel; Groothandel en promotie van farmaceutische…” (deed in Dutch)
12 activities (deed in Dutch)
- Bemiddelaar in aankoop/verkoop farmaceutische producten,medische apparatuur en materieel
- Groothandel en promotie van farmaceutische producten,medische en tandheelkundige apparatuur en materieel
- Groothandel voedingswaren en dranken
- Groothandel in hotelgerief en -uitrusting
- Groothandel,bemiddelaar,distributie van grondstoffen en goederen
- Groothandel,bemiddelaar,distributie van schoenen
- Verlenen van diensten voor personen en bedrijven
- Groothandel in textielwaren,breiwerken
- Vertegenwoordiging textielwaren,breiwerken
- Bemiddelaar bij financiële verrichtingen
- Detailhandel in allerlei producten via het internet
- Vertegenwoordiging van alle producten hiervoor niet vermeld
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CELAN
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, 2” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “13, 6 jaar” (deed in Dutch)“Raad kiest voorzitter uit midden, 14” (deed in Dutch)“Plaats in oproepingsbrief,bij gebrek zetel, 15” (deed in Dutch)“Elke bestuurder aan één collega voor bepaalde raad,schriftelijk of met materieel spoor,lastgever geacht aanwezig, ten minste helft leden…” (deed in Dutch)
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Ontbinding om welke reden en op welk ogenblik ook, bestuursorgaan in functie handelend als college van vereffenaars bij gebrek aan benoeming” (deed in Dutch)“Alle verrichtingen vermeld in de wet, algemene vergadering anders bij gewone meerderheid” (deed in Dutch)