Cellcom
ActiveSummary
The computed 12-month bankruptcy probability of Cellcom is 1.6% (moderate). The annual accounts of Cellcom for fiscal year 2025 show a net loss of 63% of the equity at the start of that year. The 2025 annual accounts show equity of €30,835 and a net result of -€52,534. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 22% of 261 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-44
Solvency31▼-13
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.11 against 0.27 in 2024; short-term debt: 93.7% and cash: 6.3% of total assets), and 93.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
6.2%
Return on assets
-10.5%
Age of the figures
15 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 261 sector peers (2025).
NBB · sector comparisonPosition among 261 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-12-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
31 d early
2023
31 d early
2022
32 d early
2021
33 d early
2020
31 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 32 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€30,835▼ 63.0%
2024 · €83,369
Total assets
€500,021▲ 11.5%
2024 · €448,642
Net result
-€52,534
2024 · €158,278
Working capital
-€419,020▼ 56.5%
2024 · -€267,815
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€129,408▲ 49.7%€127,561▼ 1.4%€102,544▼ 19.6%€205,217▲ 100%-€42,344
Net result€101,096▲ 48.7%€99,740▼ 1.3%€81,344▼ 18.4%€158,278▲ 94.6%-€52,534
Equity€83,091▲ 0.1%€83,091=€83,091=€83,369▲ 0.3%€30,835▼ 63.0%
Total assets€197,406▲ 20.8%€204,390▲ 3.5%€479,935▲ 135%€448,642▼ 6.5%€500,021▲ 11.5%
Debt€114,315▲ 42.2%€121,299▲ 6.1%€396,844▲ 227%€365,273▼ 8.0%€469,186▲ 28.4%
Working capital€77,720▲ 5.9%€78,199▲ 0.6%-€283,776-€267,815▲ 5.6%-€419,020▼ 56.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €42,344 after €205,217 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €500,021
Fixed assets
€450,294 ▲ 28.1%
Current assets
€49,727 ▼ 48.8%
Equity and liabilities €500,021
Equity
€30,835 ▼ 63.0%
Debt
€469,186 ▲ 28.4%
Debt's share of the balance-sheet total rises from 81.4% to 93.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€10,448▼
2024 · €227,320
Cash flow
€258▼
2024 · €180,381
Current ratio
0.11▼
2024 · 0.27
Debt to equity
15.22▲
2024 · 4.38
ROE
-170.4%▼
2024 · 189.9%
ROA
-10.5%▼
2024 · 35.3%
Interest coverage
98.55▼
2024 · 2199.95
Debt ≤ 1 year
€468,746▲
2024 · €364,935
Income taxes
€10,294▼
2024 · €46,989
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 | - | €182 | - | - | €5,441 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,829 | €6,180 | €20,585 | €22,103 | €52,792 | ▲ 139% |
| Other operating charges640/8 | - | €1,260 | €1,914 | €1,254 | €3,026 | ▲ 141% |
| Gross operating margin9900 | €136,248 | €135,002 | €125,043 | €228,574 | €13,474 | ▼ 94.1% |
| Operating profit (loss)9901 | €129,408 | €127,561 | €102,544 | €205,217 | -€42,344 | ▼ 121% |
| Financial income75/76B | - | €53 | €4 | €153 | €210 | ▲ 37.3% |
| Recurring financial income75 | €32 | €53 | €4 | €153 | €210 | ▲ 37.3% |
| Financial charges65/66B | - | €51 | €59 | €103 | €106 | ▲ 2.6% |
| Recurring financial charges65 | €57 | €51 | €59 | €103 | €106 | ▲ 2.6% |
| Profit (loss) for the period before taxes9903 | €129,383 | €127,564 | €102,490 | €205,267 | -€42,240 | ▼ 121% |
| Income taxes67/77 | €28,286 | €27,823 | €21,146 | €46,989 | €10,294 | ▼ 78.1% |
| Profit (loss) for the period9904 | €101,096 | €99,740 | €81,344 | €158,278 | -€52,534 | ▼ 133% |
| Profit (loss) for the period to be appropriated9905 | €101,096 | €99,740 | €81,344 | €158,278 | -€52,534 | ▼ 133% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €197,406 | €204,390 | €479,935 | €448,642 | €500,021 | ▲ 11.5% |
| Fixed assets21/28 | €5,705 | €5,348 | €367,201 | €351,522 | €450,294 | ▲ 28.1% |
| Tangible fixed assets22/27 | €5,705 | €5,348 | €367,201 | €351,522 | €450,294 | ▲ 28.1% |
| Land and buildings22 | - | €86 | €357,838 | €338,988 | €320,155 | ▼ 5.6% |
| Plant, machinery and equipment23 | - | €5,054 | €8,435 | €11,068 | €9,598 | ▼ 13.3% |
| Furniture and vehicles24 | - | €208 | €928 | €1,466 | €120,542 | ▲ 8,125% |
| Current assets29/58 | €191,702 | €199,042 | €112,734 | €97,120 | €49,727 | ▼ 48.8% |
| Amounts receivable within one year40/41 | €1,835 | €15,782 | €67,843 | €9,343 | €15,444 | ▲ 65.3% |
| Trade receivables40 | - | €8,605 | €8,075 | €2,501 | €3,607 | ▲ 44.2% |
| Other amounts receivable41 | - | €7,177 | €59,768 | €6,842 | €11,837 | ▲ 73.0% |
| Cash at bank and in hand54/58 | €189,613 | €183,002 | €44,619 | €87,283 | €31,408 | ▼ 64.0% |
| Deferred charges and accrued income490/1 | - | €258 | €272 | €494 | €2,875 | ▲ 481% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €197,406 | €204,390 | €479,935 | €448,642 | €500,021 | ▲ 11.5% |
| Equity10/15 | €83,091 | €83,091 | €83,091 | €83,369 | €30,835 | ▼ 63.0% |
| Contributions10/11 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Outside capital11 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Other1109/19 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Non-distributable reserves130/1 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Reserves not available under the articles1311 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Profit (loss) carried forward14 | €591 | €591 | €591 | €869 | -€51,665 | ▼ 6,049% |
| Amounts payable17/49 | €114,315 | €121,299 | €396,844 | €365,273 | €469,186 | ▲ 28.4% |
| Amounts payable within one year42/48 | €113,981 | €120,843 | €396,510 | €364,935 | €468,746 | ▲ 28.4% |
| Trade debts44 | €9,903 | €17,690 | €314,820 | €204,600 | €209,198 | ▲ 2.2% |
| Suppliers440/4 | - | €17,690 | €314,820 | €204,600 | €209,198 | ▲ 2.2% |
| Taxes, remuneration and social security45 | - | €3,413 | - | €1,989 | €294 | ▼ 85.2% |
| Taxes450/3 | - | €3,413 | - | €1,989 | €294 | ▼ 85.2% |
| Other amounts payable47/48 | - | €99,740 | €81,690 | €158,346 | €259,255 | ▲ 63.7% |
| Accrued charges and deferred income492/3 | - | €456 | €334 | €339 | €440 | ▲ 30.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €101,096 | €99,740 | €81,344 | €158,278 | -€52,534 | ▼ 133% |
| + Depreciation and write-downs630 | €5,829 | €6,180 | €20,585 | €22,103 | €52,792 | ▲ 139% |
| Operating cash flow (approximation) | €106,926 | €105,921 | €101,929 | €180,381 | €258 | ▼ 99.9% |
| Investment in fixed assets (approximation) | - | -€5,824 | -€382,438 | -€6,424 | -€151,565 | ▼ 2,259% |
| Change in cash | - | -€6,611 | -€138,383 | €42,664 | -€55,875 | ▼ 231% |
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
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Weakest financial yearnet -€52,534
Net result drops to -€52,534, the lowest in the series.
2024
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Highest result since 2019net €158,278 ▲94.6%
Operating result €205,217, net result €158,278, both a record.
2023
31-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
30-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
29-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
15-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
31-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are 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, Knokke-Heist · 1 establishment unit since 2013
Ground area
1,284 m²
Building footprint
348 m²
Volume, LiDAR
5 m³
Parcel 31333I0791/00X000, Flanders · tallest building 0.9 m. Linked by address, not a title deed.
1 establishment unit
Cellcom
since 20132.222.200.120
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31333I0791/00X000 | Flanders | 1,284 m² | 1 · 348 m² | 0.9 m |
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 2,159 companies in sector 61200 we hold annual accounts for 695. 406 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
Founded23-09-2013
Fiscal year end30-06
Activities, NACEBEL 2025
61200Telecommunications resale and intermediation services
47400Retail sale of information and communication equipment
63920Other information service activities
64210Activities of holding companies
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
Contact
Scores and ratios are computed by Checked and are not a credit decision.