CELTEC
ActiveSummary
CELTEC has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,092 and a net result of €32,720. Equity is growing by about 22% per year across the filed financial years. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €3,092
- Profit
- €32,720
- Olaerts LucasDirector
- Vandenbussche AnnDirector
Why 96raises riskEquity €3,092 (0.9% of total assets)lowers riskSize: total assets €349,900Liquidity: current ratio 86.63, cash €257,633Founded in 1968Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 16% on solvency, 95% on liquidity, 63% on profitability and 93% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 24 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Highest result from 2018 to 2025net €32,720 ▲24.5%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 29% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 931 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 93.1% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 931 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,191 | €26,441 | €25,266 | €21,299 | €19,656 | €19,612 | €18,640 | €16,571 | ▼ 11.1% |
| Other operating charges640/8 | - | - | - | €5,710 | €5,889 | €6,397 | €6,647 | €6,853 | ▲ 3.1% |
| Gross operating margin9900 | €38,555 | €39,515 | €38,712 | €42,120 | €43,745 | €38,459 | €47,870 | €52,456 | ▲ 9.6% |
| Operating profit (loss)9901 | €7,693 | €7,719 | €7,776 | €15,111 | €18,201 | €12,451 | €22,584 | €29,032 | ▲ 28.6% |
| Financial income75/76B | - | - | - | €3,011 | €3,011 | €3,011 | €3,011 | €3,011 | = |
| Recurring financial income75 | €2,996 | €2,996 | €3,011 | €3,011 | €3,011 | €3,011 | €3,011 | €3,011 | = |
| Financial charges65/66B | - | - | - | €67 | €69 | €69 | €74 | €75 | ▲ 2.0% |
| Recurring financial charges65 | €53 | €61 | €60 | €67 | €69 | €69 | €74 | €75 | ▲ 2.0% |
| Profit (loss) for the period before taxes9903 | €10,636 | €10,653 | €10,727 | €18,056 | €21,143 | €15,392 | €25,521 | €31,968 | ▲ 25.3% |
| Transfer from deferred taxes780 | - | - | - | €753 | €753 | €753 | €753 | €753 | = |
| Profit (loss) for the period9904 | €11,404 | €11,421 | €11,480 | €18,809 | €21,896 | €16,145 | €26,273 | €32,720 | ▲ 24.5% |
| Profit (loss) for the period to be appropriated9905 | €11,404 | €11,421 | €11,480 | €18,809 | €21,896 | €16,145 | €26,273 | €32,720 | ▲ 24.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €315,858 | €314,588 | €305,069 | €311,935 | €320,455 | €322,030 | €333,171 | €349,900 | ▲ 5.0% |
| Fixed assets21/28 | €234,843 | €209,264 | €184,447 | €163,149 | €143,493 | €123,881 | €107,723 | €91,152 | ▼ 15.4% |
| Tangible fixed assets22/27 | €234,843 | €209,264 | €184,447 | €163,149 | €143,493 | €123,881 | €107,723 | €91,152 | ▼ 15.4% |
| Land and buildings22 | - | - | - | €159,534 | €141,537 | €123,543 | €105,550 | €89,431 | ▼ 15.3% |
| Plant, machinery and equipment23 | - | - | - | €2,997 | €1,561 | €126 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €206 | €83 | €0 | €2,004 | €1,593 | ▼ 20.5% |
| Other tangible fixed assets26 | - | - | - | €412 | €312 | €212 | €170 | €127 | ▼ 25.0% |
| Current assets29/58 | €81,015 | €105,324 | €120,622 | €148,786 | €176,962 | €198,148 | €225,448 | €258,749 | ▲ 14.8% |
| Cash at bank and in hand54/58 | €79,823 | €104,010 | €116,558 | €147,403 | €175,369 | €196,488 | €223,699 | €257,633 | ▲ 15.2% |
| Deferred charges and accrued income490/1 | - | - | - | €1,384 | €1,593 | €1,661 | €1,749 | €1,116 | ▼ 36.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €315,858 | €314,588 | €305,069 | €311,935 | €320,455 | €322,030 | €333,171 | €349,900 | ▲ 5.0% |
| Equity10/15 | -€114,747 | -€106,322 | -€97,697 | -€81,899 | -€63,015 | -€49,880 | -€26,617 | €3,092 | - |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | - | - | - | €66,500 | €66,500 | €66,500 | €66,500 | €66,500 | = |
| Reserves13 | €3,383 | €3,383 | €3,383 | €3,383 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | - | - | - | €3,383 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €3,383 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€280,686 | -€269,265 | -€257,785 | -€238,976 | -€219,897 | -€203,752 | -€177,479 | -€144,759 | ▲ 18.4% |
| Investment grants15 | - | - | - | €25,194 | €22,183 | €19,172 | €16,162 | €13,151 | ▼ 18.6% |
| Provisions and deferred taxes16 | €8,728 | €7,960 | €7,051 | €6,298 | €5,546 | €4,793 | €4,040 | €3,288 | ▼ 18.6% |
| Deferred taxes168 | - | - | - | €6,298 | €5,546 | €4,793 | €4,040 | €3,288 | ▼ 18.6% |
| Amounts payable17/49 | €421,877 | €412,949 | €395,715 | €387,536 | €377,924 | €367,117 | €355,748 | €343,520 | ▼ 3.4% |
| Amounts payable after more than one year17 | - | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | €340,000 | ▼ 2.9% |
| Financial debts170/4 | - | - | - | €350,000 | €350,000 | €350,000 | €350,000 | €340,000 | ▼ 2.9% |
| Amounts payable within one year42/48 | €421,433 | €62,511 | €44,695 | €36,116 | €26,182 | €15,211 | €3,866 | €2,987 | ▼ 22.7% |
| Trade debts44 | - | €116 | €47 | - | - | - | - | €381 | - |
| Suppliers440/4 | - | - | - | - | - | - | - | €381 | - |
| Other amounts payable47/48 | - | - | - | €36,116 | €26,182 | €15,211 | €3,866 | €2,606 | ▼ 32.6% |
| Accrued charges and deferred income492/3 | - | - | - | €1,420 | €1,742 | €1,905 | €1,882 | €534 | ▼ 71.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,404 | €11,421 | €11,480 | €18,809 | €21,896 | €16,145 | €26,273 | €32,720 | ▲ 24.5% |
| + Depreciation and write-downs630 | €26,191 | €26,441 | €25,266 | €21,299 | €19,656 | €19,612 | €18,640 | €16,571 | ▼ 11.1% |
| Operating cash flow (approximation) | €37,595 | €37,862 | €36,745 | €40,107 | €41,552 | €35,756 | €44,913 | €49,291 | ▲ 9.7% |
| Investment in fixed assets (approximation) | - | -€862 | -€449 | €0 | €0 | €0 | -€2,481 | €0 | - |
| Change in cash | - | €24,188 | €12,547 | €30,845 | €27,966 | €21,119 | €27,211 | €33,933 | ▲ 24.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00202992 |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00162064 |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00211496 |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00348015 |
| 31-12-2021 | micro format | 22-06-2022 | 2022-20080857 |
| 31-12-2020 | micro format | 27-07-2021 | 2021-40100263 |
| 31-12-2019 | micro format | 09-06-2020 | 2020-15300008 |
| 31-12-2018 | micro format | 22-05-2019 | 2019-13800184 |
| 31-12-2017 | micro format | 03-07-2018 | 2018-26600532 |
| 31-12-2016 | micro format | 18-08-2017 | 2017-44100309 |
Subsidies and aid
Flemish government
2025 · 1 entry · €4,824 awardedPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Olaerts Lucas |
|
| Vandenbussche Ann |
|
Owners and capital
Capital and shareholders
- 19-10-2022 Capital stated in the deed · €62,000 · 998 shares
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
19-10
Gazette deed
Resignations: Vandenbussche Ann (director) and Olaerts Lucas (director)Appointments: Vandenbussche Ann (sole director) and Olaerts Lucas (statutair bestuurder opvolger) · Amendment of the articles · Capital14 facts ▸
- General meeting, “eenparigheid van stemmen, naamloze vennootschap CELTEC” (deed in Dutch)
- Other provision, “enige statutair bestuurder met opvolger” (deed in Dutch)
- Other provision, “AANDELEN AAN TOONDER, eenparigheid van stemmen” (deed in Dutch)
- Amendment of the articles (2 times)
- Director resignation, Vandenbussche Ann (director)
- Director resignation, Olaerts Lucas (director)
- Other provision, “uitoefening mandaat, kwijting ontslagnemende bestuurders” (deed in Dutch)
- Director appointment, Vandenbussche Ann (sole director)
- Director appointment, Olaerts Lucas (statutair bestuurder opvolger)
- Capital, €62,000
- Board composition, Vandenbussche Ann (statutair bestuurder)
- Board composition, Olaerts Lucas (statutair bestuurder opvolger)
- +2 further facts in this act
06-07
Gazette deed
Reappointments: Lucas OLAERTS (director) and Ann VANDENBUSSCHE (director)5 facts ▸
- General meeting, 13-06-2022
- Director reappointment, Lucas OLAERTS (director)
- Director reappointment, Ann VANDENBUSSCHE (director)
- Board composition, Ann VANDENBUSSCHE (gedelegeerd bestuurder en voorzitter van de raad)
- Board composition, Lucas OLAERTS (director)
Show earlier events
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12025A0169/00D000 | Flanders | 289 m² | 1 · 235 m² | 14.5 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het uitbaten van een grafisch ontwerpbureau,animator,illustrator en publiciteitsonderneming.Het verzorgen van lay-out,grafische vormgeving…” (deed in Dutch)
9 activities (deed in Dutch)
- Het uitbaten van een grafisch ontwerpbureau,animator,illustrator en publiciteitsonderneming.Het verzorgen van lay-out,grafische vormgeving en uitvoering in de meest uitgebreide zin,zowel voor eigen rekening als voor rekening van derden binnen- en buitenlandse opdrachtgevers
- Het uitbaten van een kunstgalerij,inclusief het organiseren van tentoonstellingen,het verkopen en veilen van de hierna genoemde kunstvoorwerpen
- De handel onder al zijn vormen (groot- en kleinhandel,aan- en verkoop,import en export,vertegenwoordiging,makelarij,commissie,...) in meubelen,antiekvoorwerpen,sier- en kunststukken,schilderijen,aquarellen,etsen,lithografieën,beeldhouwwerken,houtsnijwerk,bronzen,juwelen,edelstenen en halfedelstenen,decoratieve voorwerpen en uitrustingen
- Het aankopen,verkopen,beheren,verhuren,investeren van en in alle onroerende en roerende goederen.Het huren,verhuren,aan- en verkopen van alle onroerende goederen zowel in het binnen- als in het buitenland,alle beheer van onroerende goederen
- Het verzorgen van de administratie en het leveren van alle andere diensten ten behoeve van derden
- Het uitbaten van een adviesbureau met onder meer marktstudie en aanverwanten,engineering,commissiehandel,makelarij en tussenhandel in het algemeen
- Alle syndicus activiteiten
- Beheer van vermogens
- Onroerende leasingoperaties
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CELTEC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “1, enige bestuurder” (deed in Dutch)“Enige bestuurder, geheel van bestuursbevoegdheden” (deed in Dutch)
Capital, shares and profit
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Monday of June at 14:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Algemene vergadering anders bij gewone meerderheid, aandeelhouders naar verhouding aantal aandelen” (deed in Dutch)