CELIK C
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-03-2026 PDF all 6 filings
Equity
-€12,262
2024 · €7,935
Total assets
€11,599▼ 42.7%
2024 · €20,241
Net result
-€20,197▲ 5.5%
2024 · -€21,383
Working capital
-€14,429
2024 · €7,935
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€14,155
▲ 7.3%
2025
20202025
Net result
-€20,197
▲ 5.5%
2025
lowest quarter of the sector
20202025
Equity
-€12,262
2025
lowest quarter of the sector
20202025
Total assets
€11,599
▼ 42.7%
2025
lowest quarter of the sector
20202025
Debt
€23,861
▲ 93.9%
2025
20202025
Working capital
-€14,429
2025
middle half of the sector
20202025
Solvency
-105.7%
▼ 144.9pp
2025
lowest quarter of the sector
20202025
Current ratio
0.40
▼ 1.25
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-174.1%
▼ 68.5pp
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€688-€6,564▲ 855%€8,731▲ 33.0%€16,570▲ 89.8%-€15,271-€14,155▲ 7.3%
Net result€688within the sector's middle half-€6,512within the sector's middle half▲ 847%€8,648within the sector's middle half▲ 32.8%€13,371within the sector's middle half▲ 54.6%-€21,383below the sector's middle half-€20,197below the sector's middle half▲ 5.5%
Equity€788below the sector's middle half-€7,299below the sector's middle half▲ 827%€15,947within the sector's middle half▲ 118%€29,318within the sector's middle half▲ 83.8%€7,935within the sector's middle half▼ 72.9%-€12,262below the sector's middle half
Total assets€20,815below the sector's middle half-€19,242below the sector's middle half▼ 7.6%€18,811below the sector's middle half▼ 2.2%€33,055below the sector's middle half▲ 75.7%€20,241below the sector's middle half▼ 38.8%€11,599below the sector's middle half▼ 42.7%
Debt€20,027-€11,943▼ 40.4%€2,864▼ 76.0%€3,737▲ 30.5%€12,306▲ 229%€23,861▲ 93.9%
Working capital€788within the sector's middle half-€7,299within the sector's middle half▲ 827%€15,625within the sector's middle half▲ 114%€29,157within the sector's middle half▲ 86.6%€7,935within the sector's middle half▼ 72.8%-€14,429within the sector's middle half
Solvency3.8%within the sector's middle half-37.9%within the sector's middle half▲ 34.1pp84.8%above the sector's middle half▲ 46.8pp88.7%above the sector's middle half▲ 3.9pp39.2%within the sector's middle half▼ 49.5pp-105.7%below the sector's middle half▼ 144.9pp
Current ratio1.04within the sector's middle half-1.61within the sector's middle half▲ 0.576.46above the sector's middle half▲ 4.858.80above the sector's middle half▲ 2.351.64within the sector's middle half▼ 7.160.40below the sector's middle half▼ 1.25
Return on assets (ROA)3.3%within the sector's middle half-33.8%above the sector's middle half▲ 30.5pp46.0%above the sector's middle half▲ 12.1pp40.5%above the sector's middle half▼ 5.5pp-105.6%below the sector's middle half▼ 146.1pp-174.1%below the sector's middle half▼ 68.5pp
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 a loss of €14,155, smaller than the loss of €15,271 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
Assets €11,599
Fixed assets
€2,167
Current assets
€9,432
Equity and liabilities
Equity-€12,262
Debt€23,861
Equity is negative. Debt (€23,861) exceeds the balance-sheet total (€11,599).
Key figures and ratios
EBITDA
-€13,072▲
2024 · -€15,110
Cash flow
-€19,114▲
2024 · -€21,222
Quick ratio
0.30▼
2024 · 1.28
Interest coverage
-67.44▲
2024 · -86.81
Debt ≤ 1 year
€23,861▲
2024 · €12,306
Income taxes
€5,848▼
2024 · €5,938
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €484 | - | - | €3,250 |
| Depreciation and write-downs of the year | €161 | €161 | €161 | €1,083 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €2,000 awarded · €2,000 paidSchemes
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €161 | €161 | €161 | €1,083 | ▲ 572% |
| Other operating charges640/8 | - | - | €1,559 | €467 | €1,780 | €911 | ▼ 48.8% |
| Gross operating margin9900 | €688 | €7,357 | €10,451 | €17,198 | -€13,330 | -€12,161 | ▲ 8.8% |
| Operating profit (loss)9901 | €688 | €6,564 | €8,731 | €16,570 | -€15,271 | -€14,155 | ▲ 7.3% |
| Financial charges65/66B | - | - | €83 | €137 | €174 | €194 | ▲ 11.4% |
| Recurring financial charges65 | - | €52 | €83 | €137 | €174 | €194 | ▲ 11.4% |
| Profit (loss) for the period before taxes9903 | €688 | €6,512 | €8,648 | €16,433 | -€15,445 | -€14,349 | ▲ 7.1% |
| Income taxes67/77 | - | - | - | €3,062 | €5,938 | €5,848 | ▼ 1.5% |
| Profit (loss) for the period9904 | €688 | €6,512 | €8,648 | €13,371 | -€21,383 | -€20,197 | ▲ 5.5% |
| Profit (loss) for the period to be appropriated9905 | €688 | €6,512 | €8,648 | €13,371 | -€21,383 | -€20,197 | ▲ 5.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €20,815 | €19,242 | €18,811 | €33,055 | €20,241 | €11,599 | ▼ 42.7% |
| Fixed assets21/28 | - | - | €323 | €161 | - | €2,167 | - |
| Tangible fixed assets22/27 | - | - | €323 | €161 | - | €2,167 | - |
| Furniture and vehicles24 | - | - | €323 | €161 | - | €2,167 | - |
| Current assets29/58 | €20,815 | €19,242 | €18,488 | €32,894 | €20,241 | €9,432 | ▼ 53.4% |
| Stocks and contracts in progress3 | - | - | - | €303 | €4,454 | €2,212 | ▼ 50.3% |
| Stocks30/36 | - | - | - | €303 | €4,454 | €2,212 | ▼ 50.3% |
| Amounts receivable within one year40/41 | - | - | - | €30,835 | €9,496 | €4,607 | ▼ 51.5% |
| Trade receivables40 | - | - | - | €265 | - | - | - |
| Other amounts receivable41 | - | - | - | €30,570 | €9,496 | €4,607 | ▼ 51.5% |
| Cash at bank and in hand54/58 | €3,750 | €2,178 | €1,423 | €1,756 | €6,292 | €2,613 | ▼ 58.5% |
| Deferred charges and accrued income490/1 | - | - | €17,065 | - | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €20,815 | €19,242 | €18,811 | €33,055 | €20,241 | €11,599 | ▼ 42.7% |
| Equity10/15 | €788 | €7,299 | €15,947 | €29,318 | €7,935 | -€12,262 | - |
| Contributions10/11 | €100 | €100 | €100 | €100 | €100 | €100 | = |
| Capital10 | - | - | €100 | €100 | €100 | €100 | = |
| Issued capital100 | - | - | €100 | €100 | €100 | €100 | = |
| Profit (loss) carried forward14 | €688 | €7,199 | €15,847 | €29,218 | €7,835 | -€12,362 | - |
| Amounts payable17/49 | €20,027 | €11,943 | €2,864 | €3,737 | €12,306 | €23,861 | ▲ 93.9% |
| Amounts payable within one year42/48 | €20,027 | €11,943 | €2,864 | €3,737 | €12,306 | €23,861 | ▲ 93.9% |
| Financial debts43 | - | - | €284 | - | - | - | - |
| Credit institutions430/8 | - | - | €284 | - | - | - | - |
| Trade debts44 | €104 | €657 | €830 | €2,021 | €12,306 | €20,110 | ▲ 63.4% |
| Suppliers440/4 | - | - | €830 | €2,021 | €12,306 | €20,110 | ▲ 63.4% |
| Taxes, remuneration and social security45 | - | - | €1,064 | €1,715 | - | - | - |
| Taxes450/3 | - | - | €1,064 | €1,715 | - | - | - |
| Other amounts payable47/48 | - | - | €686 | - | - | €3,751 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €688 | €6,512 | €8,648 | €13,371 | -€21,383 | -€20,197 | ▲ 5.5% |
| + Depreciation and write-downs630 | - | - | €161 | €161 | €161 | €1,083 | ▲ 572% |
| Operating cash flow (approximation) | €688 | €6,512 | €8,809 | €13,533 | -€21,222 | -€19,114 | ▲ 9.9% |
| Investment in fixed assets (approximation) | - | - | - | €0 | - | - | - |
| Change in cash | - | -€1,572 | -€754 | €332 | €4,536 | -€3,679 | - |
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, 6,008 companies had the same profile as CELIK C has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CELIK C itself: 3.6% 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 6,008 companies, not a prediction for CELIK C. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 19-03-2026 | 2026-00057394 | |
| 30-09-2024 | micro format | 03-03-2025 | 2025-00043921 | |
| 30-09-2023 | micro format | 07-12-2023 | 2023-00525773 | |
| 30-09-2022 | micro format | 02-12-2022 | 2022-20531791 | |
| 30-09-2021 | abbreviated format | 16-03-2022 | 2022-07800040 | |
| 30-09-2020 | abbreviated format | 07-03-2022 | 2022-07200402 |