Celideux
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 28-04-2026 PDF all 9 filings
Turnover
≈ €650,000
Estimated: probably between €540,000 and €810,000
Total assets
€1.5m▲ 11.0%
2024 · €1.3m
Net result
€16,517▼ 62.9%
2024 · €44,487
Working capital
-€187,889▲ 41.1%
2024 · -€318,837
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€46,623
▼ 37.2%
2025
20192025
Net result
€16,517
▼ 62.9%
2025
middle half of the sector
20192025
Equity
€98,905
▲ 20.0%
2025
highest quarter of the sector
20192025
Total assets
€1.5m
▲ 11.0%
2025
highest quarter of the sector
20192025
Debt
€1.4m
▲ 10.4%
2025
20192025
Working capital
-€187,889
▲ 41.1%
2025
lowest quarter of the sector
20192025
Solvency
6.7%
▲ 0.5pp
2025
middle half of the sector
20192025
Current ratio
0.32
▲ 0.12
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
1.1%
▼ 2.2pp
2025
middle half of the sector
20192025
Staff (FTE)
1.7
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.003m-€0.005m▲ 65.1%-€0.01m€0.03m€0.08m▲ 226%€0.07m▼ 9.7%€0.05m▼ 37.2%
Net result-€0.003m-€159within the sector's middle half-€0.02mbelow the sector's middle half€0.02mabove the sector's middle half€0.07mabove the sector's middle half▲ 230%€0.04mabove the sector's middle half▼ 40.0%€0.02mwithin the sector's middle half▼ 62.9%
Equity€0.01m-€0.01mwithin the sector's middle half▲ 1.2%-€0.006mbelow the sector's middle half€0.03mwithin the sector's middle half€0.1mabove the sector's middle half▲ 258%€0.08mwithin the sector's middle half▼ 19.9%€0.1mabove the sector's middle half▲ 20.0%
Total assets€0.3m-€0.3mabove the sector's middle half▲ 21.6%€0.3mabove the sector's middle half▼ 3.5%€0.4mabove the sector's middle half▲ 20.2%€0.4mabove the sector's middle half▲ 6.0%€1.3mabove the sector's middle half▲ 243%€1.5mabove the sector's middle half▲ 11.0%
Debt€0.2m-€0.3m▲ 22.7%€0.3m▲ 3.0%€0.3m▲ 8.6%€0.3m▼ 15.5%€1.2m▲ 337%€1.4m▲ 10.4%
Working capital-€0.008m--€0.06mbelow the sector's middle half▼ 653%-€0.09mbelow the sector's middle half▼ 45.2%-€0.07mbelow the sector's middle half▲ 22.0%€0.03mwithin the sector's middle half-€0.3mbelow the sector's middle half-€0.2mbelow the sector's middle half▲ 41.1%
Solvency5.3%-4.4%within the sector's middle half▼ 0.9pp-2.0%below the sector's middle half▼ 6.4pp7.8%within the sector's middle half▲ 9.9pp26.5%within the sector's middle half▲ 18.7pp6.2%within the sector's middle half▼ 20.3pp6.7%within the sector's middle half▲ 0.5pp
Current ratio0.81-0.45within the sector's middle half▼ 0.360.32below the sector's middle half▼ 0.140.49below the sector's middle half▲ 0.171.28within the sector's middle half▲ 0.790.20below the sector's middle half▼ 1.080.32below the sector's middle half▲ 0.12
Return on assets (ROA)-1.1%-0.1%within the sector's middle half▲ 1.2pp-6.6%below the sector's middle half▼ 6.6pp6.1%within the sector's middle half▲ 12.7pp19.1%above the sector's middle half▲ 13.0pp3.3%within the sector's middle half▼ 15.8pp1.1%within the sector's middle half▼ 2.2pp
Staff (FTE)1.7
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 37% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.4m ▲ 10.8%
Current assets
€89,207 ▲ 14.1%
Equity and liabilities €1.5m
Equity
€98,905 ▲ 20.0%
Debt
€1.4m ▲ 10.4%
Debt's share of the balance-sheet total falls from 93.8% to 93.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€153,061▼
2024 · €197,480
Cash flow
€122,956▼
2024 · €167,698
Quick ratio
0.27▲
2024 · 0.17
Debt to equity
13.93▼
2024 · 15.15
ROE
16.7%▼
2024 · 54.0%
Interest coverage
5.77▼
2024 · 8.30
Debt ≤ 1 year
€277,096▼
2024 · €397,027
Debt > 1 year
€1.1m▲
2024 · €851,381
Income taxes
€4,215▼
2024 · €6,297
Staff costs
€68,466
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2025 |
|---|---|
| Employees at the balance-sheet date | 2 |
| full-time | 1 |
| part-time | 1 |
| in full-time equivalents | 1.9 |
| Average over the year, in full-time equivalents | 1.7 |
| On a permanent contract | 2 |
| Joined | 2 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,620 | €79,447 | €2,557 | €1.1m | €233,257 |
| Intangible fixed assets | €15,019 | - | - | €0 | €14,190 |
| Depreciation and write-downs of the year | €18,251 | €41,595 | €44,616 | €123,211 | €106,438 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €1,627 awarded · €1,627 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €176 | €176 |
| 2024 | 1 | €764 | €764 |
| 2023 | 1 | €147 | €147 |
| 2022 | 1 | €540 | €540 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,366 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €68,466 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,503 | €23,541 | €18,251 | €41,595 | €44,616 | €123,211 | €106,438 | ▼ 13.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €48 | - |
| Other operating charges640/8 | - | - | €858 | €1,950 | €928 | €4,482 | €4,459 | ▼ 0.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €2,105 | - |
| Gross operating margin9900 | €27,145 | €29,509 | €4,327 | €68,749 | €127,790 | €201,962 | €228,139 | ▲ 13.0% |
| Operating profit (loss)9901 | €3,111 | €5,137 | -€14,781 | €25,204 | €82,246 | €74,269 | €46,623 | ▼ 37.2% |
| Financial income75/76B | - | - | €261 | €837 | €54 | €303 | €631 | ▲ 108% |
| Recurring financial income75 | €40 | €438 | €261 | €837 | €54 | €303 | €631 | ▲ 108% |
| Financial charges65/66B | - | - | €5,554 | €2,607 | €2,201 | €23,788 | €26,521 | ▲ 11.5% |
| Recurring financial charges65 | €6,044 | €5,416 | €5,554 | €2,607 | €2,201 | €23,788 | €26,521 | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | -€2,894 | €159 | -€20,074 | €23,433 | €80,099 | €50,784 | €20,732 | ▼ 59.2% |
| Income taxes67/77 | - | - | - | €950 | €5,936 | €6,297 | €4,215 | ▼ 33.1% |
| Profit (loss) for the period9904 | -€2,894 | €159 | -€20,074 | €22,483 | €74,162 | €44,487 | €16,517 | ▼ 62.9% |
| Profit (loss) for the period to be appropriated9905 | -€2,894 | €159 | -€20,074 | €22,483 | €74,162 | €44,487 | €16,517 | ▼ 62.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €1.3m | €1.5m | ▲ 11.0% |
| Formation expenses20 | €317 | €253 | €190 | €127 | €63 | €0 | - | - |
| Fixed assets21/28 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €1.3m | €1.4m | ▲ 10.8% |
| Intangible fixed assets21 | €0.002m | €0.05m | €0.05m | €0.04m | €0.02m | €0.01m | €0.01m | ▲ 30.9% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €1.2m | €1.4m | ▲ 10.6% |
| Land and buildings22 | - | - | - | - | - | €0.8m | €0.9m | ▲ 7.8% |
| Plant, machinery and equipment23 | - | - | €0.09m | €0.2m | €0.1m | €0.3m | €0.3m | ▲ 4.5% |
| Furniture and vehicles24 | - | - | €0.03m | €0.02m | €0.02m | €0.01m | €0.1m | ▲ 582% |
| Leasing and similar rights25 | - | - | €0.1m | €0.09m | €0.08m | €0.08m | €0.04m | ▼ 46.3% |
| Current assets29/58 | €0.04m | €0.05m | €0.04m | €0.07m | €0.1m | €0.08m | €0.09m | ▲ 14.1% |
| Stocks and contracts in progress3 | €0.005m | €0.02m | €0.02m | €0.01m | €0.01m | €0.009m | €0.01m | ▲ 50.5% |
| Stocks30/36 | - | - | €0.02m | €0.01m | €0.01m | €0.009m | €0.01m | ▲ 50.5% |
| Amounts receivable within one year40/41 | €0.02m | €0.01m | €0.01m | €0.03m | €0.07m | €0.05m | €0.05m | ▼ 3.4% |
| Trade receivables40 | - | - | €0.01m | €0.02m | €0.07m | €0.03m | €0.04m | ▲ 24.5% |
| Other amounts receivable41 | - | - | €0.004m | €0.006m | €0.004m | €0.02m | €0.008m | ▼ 51.2% |
| Cash at bank and in hand54/58 | €0.006m | €0.01m | €0.005m | €0.02m | €0.05m | €0.02m | €0.01m | ▼ 25.9% |
| Deferred charges and accrued income490/1 | - | - | €0.007m | €0.007m | €0.001m | €0.004m | €0.02m | ▲ 342% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €1.3m | €1.5m | ▲ 11.0% |
| Equity10/15 | €0.01m | €0.01m | -€0.006m | €0.03m | €0.1m | €0.08m | €0.1m | ▲ 20.0% |
| Contributions10/11 | €0.006m | - | €0.006m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.01m | €0.008m | €0.001m | €0.01m | €0.08m | €0.06m | €0.08m | ▲ 25.9% |
| Non-distributable reserves130/1 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €0.01m | €0.08m | €0.06m | €0.08m | ▲ 27.0% |
| Profit (loss) carried forward14 | -€0.003m | - | -€0.01m | €89 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €1.2m | €1.4m | ▲ 10.4% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.9m | €1.1m | ▲ 29.3% |
| Financial debts170/4 | - | - | €0.2m | €0.2m | €0.2m | €0.9m | €1.1m | ▲ 29.3% |
| Amounts payable within one year42/48 | €0.04m | €0.1m | €0.1m | €0.1m | €0.1m | €0.4m | €0.3m | ▼ 30.2% |
| Current portion of amounts payable after more than one year42 | - | - | €0.009m | €0.02m | €0.02m | €0.3m | €0.1m | ▼ 62.5% |
| Financial debts43 | - | - | €0.008m | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | €0.008m | €0 | - | - | - | - |
| Trade debts44 | €0.005m | €0.02m | €0.006m | €0.02m | €0.006m | €0.04m | €0.07m | ▲ 101% |
| Suppliers440/4 | - | - | €0.006m | €0.02m | €0.006m | €0.04m | €0.07m | ▲ 101% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €0.001m | - |
| Taxes, remuneration and social security45 | - | - | €0.05m | €0.005m | €0.006m | €0.006m | €0.02m | ▲ 231% |
| Taxes450/3 | - | - | €0.003m | €256 | €0.006m | €0.006m | €0.007m | ▲ 14.5% |
| Remuneration and social security454/9 | - | - | €0.04m | €0.004m | €0 | - | €0.01m | - |
| Other amounts payable47/48 | - | - | €0.06m | €0.09m | €0.07m | €0.07m | €0.08m | ▲ 2.2% |
| Accrued charges and deferred income492/3 | - | - | €0.002m | €0 | - | - | €186 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.003m | €159 | -€0.02m | €0.02m | €0.07m | €0.04m | €0.02m | ▼ 62.9% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.04m | €0.04m | €0.1m | €0.1m | ▼ 13.6% |
| Operating cash flow (approximation) | €0.02m | €0.02m | -€0.002m | €0.06m | €0.1m | €0.2m | €0.1m | ▼ 26.7% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.02m | -€0.08m | -€0.003m | -€1.1m | -€0.2m | ▲ 78.4% |
| Change in cash | - | €0.004m | -€0.006m | €0.02m | €0.03m | -€0.03m | -€0.005m | ▲ 83.8% |
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, 1,375 companies had the same profile as Celideux has now. Two years later, 95.9% were still going and 2.2% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
95.9%
was still going
1.6%
stopped otherwise
2.2%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Celideux itself: 0.9% 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 1,375 companies, not a prediction for Celideux. 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.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 28-04-2026 | 2026-00090685 | |
| 30-09-2024 | micro format | 30-04-2025 | 2025-00083250 | |
| 30-09-2023 | micro format | 30-04-2024 | 2024-00074214 | |
| 30-09-2022 | micro format | 26-04-2023 | 2023-00065956 | |
| 30-09-2021 | micro format | 27-04-2022 | 2022-20017613 | |
| 30-09-2020 | micro format | 22-06-2021 | 2021-24700528 | |
| 30-09-2019 | micro format | 28-04-2020 | 2020-10100287 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11500561 | |
| 30-09-2017 | micro format | 27-03-2018 | 2018-07900068 |