Cellas Group
ActiveCellas Group has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.81M and a net result of €941k. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 89% of 9167 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability34▲+17
Solvency100=
Growth78▲+46
Track record94
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €490k at 30 days acceptable
Liquidity ample (current ratio 5.98 against 5.43 in 2024; short-term debt: 12.9% and cash: 18.3% of total assets), and 12.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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
Sector 68
lower
← 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
87.1%
Return on assets
12%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €6.81M
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 01-06-2026, 60 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
60 d early
2024
26 d late
2023
29 d late
2022
28 d late
2021
26 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€6.81M▲ 16.0%
2024 · €5.87M
2021: €6.13M
2022: €6.09M
2023: €5.98M
2024: €5.87M
2021 → 2025
Total assets
€7.82M▲ 13.6%
2024 · €6.88M
2021: €6.70M
2022: €7.22M
2023: €7.01M
2024: €6.88M
2021 → 2025
Net result
€941k
2024 · €-110k
2021: €152k
2022: €-38k
2023: €-107k
2024: €-110k
2021 → 2025
Working capital
€5.02M▲ 12.0%
2024 · €4.49M
2021: €5.68M
2022: €5.39M
2023: €5.18M
2024: €4.49M
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€6.13M-€6.09M▼ 0.6%€5.98M▼ 1.8%€5.87M▼ 1.8%€6.81M▲ 16.0%
Operating result€-72k-€-65k▲ 9.6%€-117k▼ 79.1%€-187k▼ 59.5%€-178k▲ 5.1%
Net result€152k-€-38k€-107k▼ 180%€-110k▼ 2.4%€941k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €178k in 2025 against €187k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.82M
Fixed assets
€1.79M▲ 29.2%
Current assets
€6.03M▲ 9.7%
Equity and liabilities €7.82M
Equity
€6.81M▲ 16.0%
Debt
€1.01M▼ 0.5%
The debt ratio falls from 14.7% to 12.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€-137k▲
2024 · €-147k
Cash flow
€982k▲
2024 · €-70k
Solvency
87.1%▲
2024 · 85.3%
Current ratio
5.98▲
2024 · 5.43
Quick ratio
5.88▲
2024 · 5.33
Debt / equity
0.15▼
2024 · 0.17
ROE
13.8%▲
2024 · -1.9%
ROA
12.0%▲
2024 · -1.6%
Interest coverage
-121.78▲
2024 · -352.12
Debt
€1.01M▼
2024 · €1.01M
Debt ≤ 1 year
€1.01M▼
2024 · €1.01M
Income taxes
€910▲
2024 · €-2k
Staff costs
€4k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€6.88M€7.82M▲
Fixed assets21/28€1.39M€1.79M▲
Intangible fixed assets21€4k€5k▲
Tangible fixed assets22/27€101k€72k▼
Plant, machinery and equipment23€2k€5k▲
Furniture and vehicles24€88k€55k▼
Other tangible fixed assets26€11k€13k▲
Financial fixed assets28€1.28M€1.71M▲
Current assets29/58€5.50M€6.03M▲
Stocks and contracts in progress3€104k€105k▲
Stocks30/36€104k€105k▲
Amounts receivable within one year40/41€16k€21k▲
Trade receivables40€0€15k▲
Other amounts receivable41€16k€7k▼
Current investments50/53€3.65M€4.48M▲
Cash at bank and in hand54/58€1.73M€1.43M▼
Deferred charges and accrued income490/1€0€236▲
Equity and liabilities
Total equity and liabilities10/49€6.88M€7.82M▲
Equity10/15€5.87M€6.81M▲
Contributions10/11€1.17M€1.17M=
Capital10€1.17M€1.17M=
Issued capital100€1.17M€1.17M=
Reserves13€4.71M€5.65M▲
Non-distributable reserves130/1€117k€117k=
Legal reserve130€117k€117k=
Distributable reserves133€4.59M€5.53M▲
Amounts payable17/49€1.01M€1.01M▼
Amounts payable within one year42/48€1.01M€1.01M▼
Trade debts44€2k€0▼
Suppliers440/4€2k€0▼
Taxes, remuneration and social security45€0€1k▲
Taxes450/3€0€766▲
Remuneration and social security454/9-€605
Other amounts payable47/48€1.01M€1.01M▼
Income statement
Code20242025
Remuneration, social security and pensions62-€4k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€40k€41k▲
Other operating charges640/8€4k€3k▼
Non-recurring operating charges66A€976€3k▲
Gross operating margin9900€-142k€-126k▲
Operating profit (loss)9901€-187k€-178k▲
Financial income75/76B€75k€1.12M▲
Recurring financial income75€75k€928k▲
Non-recurring financial income76B-€192k
Financial charges65/66B€418€1k▲
Recurring financial charges65€418€1k▲
Profit (loss) for the period before taxes9903€-112k€942k▲
Income taxes67/77€-2k€910▲
Profit (loss) for the period9904€-110k€941k▲
Profit (loss) for the period to be appropriated9905€-110k€941k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-110k€941k▲
Transfer from equity791/2€110k€0▼
Transfer to equity691/2-€941k
To other reserves6921-€941k
Social balance
Average headcount (FTE)90870.00.8▲
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €941k
Net result €941k after 3 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2024
31-12
Financial
Weakest financial yearnet €-110k
Net result drops to €-110k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Schilde · 2 establishment units since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Hoge Haar 592970 SchildeGround area
6,625 m²
Building footprint
548 m²
Volume, LiDAR
3,393 m³
2 parcels, Flanders · tallest building 25.2 m, ±7 floors. Linked by address, not a title deed.
2 establishment units
Cellas Group
since 20202.311.781.895
Antoine Bréartstraat 13, 8300 Knokke-Heist
since 20252.380.090.978
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11041B0086/00K000 | Flanders | 6,342 m² | 1 · 443 m² | 13.5 m · 1 fl. |
| 31334B0600/00A000 | Flanders | 283 m² | 1 · 105 m² | 25.2 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKnokke-Heist2.380.090.978
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,382. 1,513 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded30-12-2020
Fiscal year end31-12
Activities, NACEBEL
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
68110Buying and selling of own real estate
14199Manufacture of wearing apparel
14299Manufacture of wearing apparel
47711Retail sale of women's outerwear
47712Retail trade
47715Retail trade
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.