CELLULOSE
ActiveSummary
CELLULOSE has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145,212 and a net result of €3,530. Equity is growing by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 23% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-12
Solvency45▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity short (current ratio 0.04 against 0.1 in 2024; short-term debt: 62.6% and cash: 0.2% of total assets), and 79.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
20.2%
Return on assets
0.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 8737 sector peers (2025).
NBB · sector comparisonPosition among 8737 sector peers
Solvency
better than 23%
← weakest
strongest →
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 23-07-2026, 8 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
8 d early
2024
29 d late
2023
64 d late
2022
28 d late
2021
30 d late
2020
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 29 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3,530▼ 91.0%
2024 · €39,208
Working capital
-€431,628▼ 4.6%
2024 · -€412,801
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,266▲ 66.0%-€3,358▼ 2.8%-€4,040▼ 20.3%-€3,840▲ 4.9%€16,534
Net result-€7,768below the sector's middle half▲ 39.1%-€7,410below the sector's middle half▲ 4.6%€30,417within the sector's middle half€39,208within the sector's middle half▲ 28.9%€3,530within the sector's middle half▼ 91.0%
Equity€79,466below the sector's middle half▼ 8.9%€72,056below the sector's middle half▼ 9.3%€102,473within the sector's middle half▲ 42.2%€141,682within the sector's middle half▲ 38.3%€145,212within the sector's middle half▲ 2.5%
Total assets€735,748within the sector's middle half▼ 4.6%€700,777within the sector's middle half▼ 4.8%€726,501within the sector's middle half▲ 3.7%€746,783within the sector's middle half▲ 2.8%€717,384within the sector's middle half▼ 3.9%
Debt€656,282▼ 4.1%€628,720▼ 4.2%€624,028▼ 0.7%€605,101▼ 3.0%€572,172▼ 5.4%
Working capital-€382,313▼ 11.0%-€420,279▼ 9.9%-€420,884▼ 0.1%-€412,801▲ 1.9%-€431,628▼ 4.6%
Solvency10.8%below the sector's middle half▼ 0.5pp10.3%below the sector's middle half▼ 0.5pp14.1%below the sector's middle half▲ 3.8pp19.0%below the sector's middle half▲ 4.9pp20.2%below the sector's middle half▲ 1.3pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €16,534 after a loss of €3,840 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €717,384
Fixed assets
€700,000 =
Current assets
€17,384 ▼ 62.8%
Equity and liabilities €717,384
Equity
€145,212 ▲ 2.5%
Debt
€572,172 ▼ 5.4%
Debt's share of the balance-sheet total falls from 81.0% to 79.8%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
0.04▼
2024 · 0.10
Debt to equity
3.94▼
2024 · 4.27
ROE
2.4%▼
2024 · 27.7%
ROA
0.5%▼
2024 · 5.3%
Debt ≤ 1 year
€449,012▼
2024 · €459,584
Debt > 1 year
€113,129▼
2024 · €145,130
Income taxes
€317
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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €421 | €423 | €1,035 | €652 | €525 | ▼ 19.5% |
| Gross operating margin9900 | -€2,845 | -€2,935 | -€3,005 | -€3,188 | €17,059 | ▲ 635% |
| Operating profit (loss)9901 | -€3,266 | -€3,358 | -€4,040 | -€3,840 | €16,534 | ▲ 531% |
| Financial income75/76B | - | - | €38,096 | €46,160 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €38,096 | €46,160 | €0 | ▼ 100% |
| Financial charges65/66B | €4,503 | €4,052 | €3,638 | €3,111 | €12,687 | ▲ 308% |
| Recurring financial charges65 | €4,503 | €4,052 | €3,638 | €3,111 | €12,687 | ▲ 308% |
| Profit (loss) for the period before taxes9903 | -€7,768 | -€7,410 | €30,417 | €39,208 | €3,847 | ▼ 90.2% |
| Income taxes67/77 | - | - | - | - | €317 | - |
| Profit (loss) for the period9904 | -€7,768 | -€7,410 | €30,417 | €39,208 | €3,530 | ▼ 91.0% |
| Profit (loss) for the period to be appropriated9905 | -€7,768 | -€7,410 | €30,417 | €39,208 | €3,530 | ▼ 91.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €735,748 | €700,777 | €726,501 | €746,783 | €717,384 | ▼ 3.9% |
| Fixed assets21/28 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Financial fixed assets28 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Current assets29/58 | €35,748 | €777 | €26,501 | €46,783 | €17,384 | ▼ 62.8% |
| Amounts receivable after more than one year29 | €31,048 | €0 | - | - | - | - |
| Other amounts receivable291 | €31,048 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €358 | €348 | €24,775 | €46,319 | €15,286 | ▼ 67.0% |
| Trade receivables40 | €200 | €0 | €24,466 | €0 | €15,000 | - |
| Other amounts receivable41 | €158 | €348 | €309 | €46,319 | €286 | ▼ 99.4% |
| Cash at bank and in hand54/58 | €4,343 | €429 | €1,727 | €464 | €1,695 | ▲ 265% |
| Deferred charges and accrued income490/1 | - | - | - | - | €403 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €735,748 | €700,777 | €726,501 | €746,783 | €717,384 | ▼ 3.9% |
| Equity10/15 | €79,466 | €72,056 | €102,473 | €141,682 | €145,212 | ▲ 2.5% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€20,534 | -€27,944 | €2,473 | €41,682 | €45,212 | ▲ 8.5% |
| Amounts payable17/49 | €656,282 | €628,720 | €624,028 | €605,101 | €572,172 | ▼ 5.4% |
| Amounts payable after more than one year17 | €238,221 | €207,665 | €176,642 | €145,130 | €113,129 | ▼ 22.1% |
| Financial debts170/4 | €238,221 | €207,665 | €176,642 | €145,130 | €113,129 | ▼ 22.1% |
| Amounts payable within one year42/48 | €418,061 | €421,056 | €447,385 | €459,584 | €449,012 | ▼ 2.3% |
| Current portion of amounts payable after more than one year42 | €30,089 | €30,556 | €31,022 | €31,512 | €32,001 | ▲ 1.6% |
| Trade debts44 | €2,972 | €5,499 | €3,194 | €2,158 | €5,303 | ▲ 146% |
| Suppliers440/4 | €2,972 | €5,499 | €3,194 | €2,158 | €5,303 | ▲ 146% |
| Taxes, remuneration and social security45 | - | - | - | - | €917 | - |
| Taxes450/3 | - | - | - | - | €917 | - |
| Other amounts payable47/48 | €385,000 | €385,000 | €413,169 | €425,914 | €410,790 | ▼ 3.6% |
| Accrued charges and deferred income492/3 | - | - | - | €387 | €10,031 | ▲ 2,490% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,768 | -€7,410 | €30,417 | €39,208 | €3,530 | ▼ 91.0% |
| Operating cash flow (approximation) | -€7,768 | -€7,410 | €30,417 | €39,208 | €3,530 | ▼ 91.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,914 | €1,298 | -€1,263 | €1,231 | ▲ 197% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Highest result since 2020net €39,208 ▲28.9%
Net result €39,208, the highest in the series.
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 64 days late
2023
31-12
Financial
Back to profitnet €30,417
Net result €30,417 after 3 loss-making years.
31-12
Financial
Equity above €100,000Eq €102,473 ▲42.2%
Equity rises from €72,056 to €102,473.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
05-05
State Gazette act
General meeting · Director resignation
Permanent representative · Director discharge
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
26-10
State Gazette act
Board meeting · General meeting
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Gembloux · 1 establishment unit since 2020
Ground area
966 m²
Building footprint
121 m²
Parcel 92026D0146/00Y000, Wallonia. Linked by address, not a title deed.
1 establishment unit
CELLULOSE
since 20202.309.034.718
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92026D0146/00Y000 | Wallonia | 966 m² | 1 · 121 m² | - |
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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of CELLULOSE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
3 locations
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 40,878 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
Founded30-04-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0746607119
Registered
18-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.