Cellna
ActiveSummary
Cellna has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €304,200. Equity is growing by ~16.2% per year across the filed fiscal years. Its solvency ranks better than 92% of 2213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-12
Solvency100▲+25
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130,000 at 30 days acceptable
Liquidity ample (current ratio 7.35 against 3.11 in 2024; short-term debt: 13.4% and cash: 9.4% of total assets), and 13.6% of the assets are financed with debt.
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Signals
Four 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← 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
86.4%
Return on assets
15.6%
Age of the figures
9 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
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
21 d late
2023
14 d late
2022
17 d late
2021
3 d early
2020
11 d late
2019
69 d late
← 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 18 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 company by equity in Erpe-Mere, Construction sector#7 company by total assets in Erpe-Mere, Construction sector
Equity
€1.7m▲ 17.5%
2024 · €1.4m
Total assets
€1.9m▼ 31.5%
2024 · €2.8m
Net result
€304,200▼ 62.0%
2024 · €799,707
Working capital
€1.7m▼ 12.9%
2024 · €1.9m
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€205,784▲ 79.9%€432,929▲ 110%€372,905▼ 13.9%€1.3m▲ 239%€478,806▼ 62.1%
Net result€134,305▲ 36.3%€288,829▲ 115%€186,449▼ 35.4%€799,707▲ 329%€304,200▼ 62.0%
Equity€904,634▲ 17.4%€1.2m▲ 31.9%€1.4m▲ 15.6%€1.4m▲ 3.6%€1.7m▲ 17.5%
Total assets€1.6m▲ 11.3%€2.9m▲ 83.8%€3.8m▲ 32.0%€2.8m▼ 25.1%€1.9m▼ 31.5%
Debt€657,007▲ 3.9%€1.7m▲ 155%€2.4m▲ 43.7%€1.4m▼ 41.5%€264,479▼ 81.2%
Working capital€1.4m▲ 9.3%€2.3m▲ 72.2%€3.0m▲ 28.6%€1.9m▼ 37.1%€1.7m▼ 12.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 62% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€27,846 ▼ 24.1%
Current assets
€1.9m ▼ 31.6%
Equity and liabilities €1.9m
Equity
€1.7m ▲ 17.5%
Debt
€264,479 ▼ 81.2%
Debt's share of the balance-sheet total falls from 49.7% to 13.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€489,244▼
2024 · €1.3m
Cash flow
€314,639▼
2024 · €808,948
Current ratio
7.35▲
2024 · 3.11
Quick ratio
1.96▲
2024 · 1.17
Debt to equity
0.16▼
2024 · 0.99
ROE
18.1%▼
2024 · 56.0%
ROA
15.6%▼
2024 · 28.2%
Interest coverage
11.07▼
2024 · 11.82
Debt ≤ 1 year
€260,889▼
2024 · €901,910
Income taxes
€138,116▼
2024 · €365,060
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 17,792 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €430 | - | €19,000 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,129 | €7,053 | €1,915 | €9,241 | €10,439 | ▲ 13.0% |
| Other operating charges640/8 | €3,031 | €683 | €2,492 | €1,108 | €1,225 | ▲ 10.6% |
| Gross operating margin9900 | €215,944 | €440,665 | €377,312 | €1.3m | €490,469 | ▼ 61.5% |
| Operating profit (loss)9901 | €205,784 | €432,929 | €372,905 | €1.3m | €478,806 | ▼ 62.1% |
| Financial income75/76B | €2,829 | €13,306 | €8,442 | €8,023 | €7,710 | ▼ 3.9% |
| Recurring financial income75 | €2,829 | €13,306 | €8,442 | €8,023 | €7,710 | ▼ 3.9% |
| Financial charges65/66B | €22,481 | €27,106 | €107,719 | €107,757 | €44,200 | ▼ 59.0% |
| Recurring financial charges65 | €22,481 | €27,106 | €107,719 | €107,757 | €44,200 | ▼ 59.0% |
| Profit (loss) for the period before taxes9903 | €186,133 | €419,129 | €273,628 | €1.2m | €442,316 | ▼ 62.0% |
| Income taxes67/77 | €51,828 | €130,300 | €87,179 | €365,060 | €138,116 | ▼ 62.2% |
| Profit (loss) for the period9904 | €134,305 | €288,829 | €186,449 | €799,707 | €304,200 | ▼ 62.0% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €113,670 | - |
| Profit (loss) for the period to be appropriated9905 | €134,305 | €288,829 | €186,449 | €799,707 | €190,530 | ▼ 76.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.9m | €3.8m | €2.8m | €1.9m | ▼ 31.5% |
| Fixed assets21/28 | €8,383 | €2,888 | €5,315 | €36,667 | €27,846 | ▼ 24.1% |
| Intangible fixed assets21 | €612 | €306 | - | - | - | - |
| Tangible fixed assets22/27 | €7,771 | €2,582 | €5,315 | €36,667 | €27,846 | ▼ 24.1% |
| Plant, machinery and equipment23 | €1,321 | €2,315 | €2,320 | €3,591 | €2,813 | ▼ 21.7% |
| Furniture and vehicles24 | €6,450 | €267 | €2,995 | €33,076 | €25,032 | ▼ 24.3% |
| Current assets29/58 | €1.6m | €2.9m | €3.8m | €2.8m | €1.9m | ▼ 31.6% |
| Amounts receivable after more than one year29 | €245,000 | €605,000 | €720,000 | - | - | - |
| Other amounts receivable291 | €245,000 | €605,000 | €720,000 | - | - | - |
| Stocks and contracts in progress3 | €1.3m | €2.2m | €3.0m | €1.7m | €1.4m | ▼ 19.6% |
| Contracts in progress37 | €1.3m | €2.2m | €3.0m | €1.7m | €1.4m | ▼ 19.6% |
| Amounts receivable within one year40/41 | €152 | €10,857 | €1,644 | €1,675 | €13,588 | ▲ 711% |
| Trade receivables40 | - | €1,458 | €1,637 | €1,605 | €12,466 | ▲ 676% |
| Other amounts receivable41 | €152 | €9,398 | €7 | €69 | €1,122 | ▲ 1,519% |
| Current investments50/53 | - | - | - | - | €298,507 | - |
| Cash at bank and in hand54/58 | €4,034 | €11,632 | €6,960 | €1.0m | €182,746 | ▼ 82.6% |
| Deferred charges and accrued income490/1 | €9,634 | €15,281 | €9,748 | €1,836 | €15,508 | ▲ 745% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.9m | €3.8m | €2.8m | €1.9m | ▼ 31.5% |
| Equity10/15 | €904,634 | €1.2m | €1.4m | €1.4m | €1.7m | ▲ 17.5% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €884,634 | €1.2m | €1.4m | €1.4m | €1.7m | ▲ 17.8% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | €113,670 | - |
| Distributable reserves133 | €882,634 | €1.2m | €1.4m | €1.4m | €1.5m | ▲ 9.7% |
| Amounts payable17/49 | €657,007 | €1.7m | €2.4m | €1.4m | €264,479 | ▼ 81.2% |
| Amounts payable after more than one year17 | €447,001 | €1.1m | €1.6m | €480,000 | - | - |
| Financial debts170/4 | €1 | €687,930 | €878,349 | - | - | - |
| Other amounts payable178/9 | €447,000 | €447,000 | €734,000 | €480,000 | - | - |
| Amounts payable within one year42/48 | €190,113 | €520,146 | €765,294 | €901,910 | €260,889 | ▼ 71.1% |
| Trade debts44 | €70,149 | €141,275 | €217,260 | €304,361 | €160,733 | ▼ 47.2% |
| Suppliers440/4 | €70,149 | €141,275 | €217,260 | €304,361 | €160,733 | ▼ 47.2% |
| Taxes, remuneration and social security45 | €21,227 | €64,437 | €232,662 | €418,339 | €100,157 | ▼ 76.1% |
| Taxes450/3 | €17,238 | €64,437 | €232,662 | €418,339 | €100,157 | ▼ 76.1% |
| Remuneration and social security454/9 | €3,989 | - | - | - | - | - |
| Other amounts payable47/48 | €98,736 | €314,434 | €315,372 | €179,210 | - | - |
| Accrued charges and deferred income492/3 | €19,893 | €21,693 | €32,367 | €27,528 | €3,589 | ▼ 87.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €134,305 | €288,829 | €186,449 | €799,707 | €304,200 | ▼ 62.0% |
| + Depreciation and write-downs630 | €7,129 | €7,053 | €1,915 | €9,241 | €10,439 | ▲ 13.0% |
| Operating cash flow (approximation) | €141,434 | €295,881 | €188,364 | €808,948 | €314,639 | ▼ 61.1% |
| Investment in fixed assets (approximation) | - | -€1,558 | -€4,342 | -€40,593 | -€1,617 | ▲ 96.0% |
| Change in cash | - | €7,598 | -€4,672 | €1.0m | -€867,108 | ▼ 183% |
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
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity doublescurrent ratio 7.35
Current ratio from 3.11 to 7.35; short-term debt falls from €901,910 to €260,889.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 21 days late
2024
31-12
Financial
Highest result since 2018net €799,707 ▲329%
Operating result €1.3m, net result €799,707, both a record.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 14 days late
2023
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 17 days late
2022
31-12
Financial
Equity above €1mEq €1.2m ▲31.9%
3 profitable years in a row build equity to €1.2m.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 11 days late
2020
31-12
Financial
Back to profitnet €98,504
Net result €98,504 after 2 loss-making years.
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 69 days late
2019
31-12
Financial
Weakest financial yearnet -€94,873
Net result drops to -€94,873, the lowest in the series; recovery starts the following year.
Show earlier events
31-12
Financial
Liquidity doublescurrent ratio 9.41
Current ratio from 4.61 to 9.41; short-term debt falls from €291,771 to €135,876.
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 23 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 14 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Erpe-Mere · 1 establishment unit since 2013
Ground area
886 m²
Building footprint
155 m²
Volume, LiDAR
957 m³
Parcel 41040A0718/00E000, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Cellna BVBA
since 20132.227.412.186
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41040A0718/00E000 | Flanders | 886 m² | 1 · 155 m² | 9.4 m · 2 fl. |
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 29,787 companies in sector 41001 we hold annual accounts for 16,042. 4,584 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
Founded13-12-2013
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0542996003
Also
9925:BE0542996003
Registered
30-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.