CEMAES
ActiveSummary
CEMAES has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€97,275) and a net result of €28,929. Equity is growing by ~16.6% per year across the filed fiscal years. Its solvency ranks better than 15% of 26043 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+29
Solvency0=
Growth72=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.17 against 1.07 in 2023; short-term debt: 83.8% and cash: 2.5% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 2024Solvency, return and age of the figures
Solvency
-25.3%
Return on assets
7.5%
Age of the figures
21 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 15% of 26043 sector peers (2024).
NBB · sector comparisonPosition among 26043 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-10-2025, 74 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
74 d late
2023
55 d late
2022
86 d late
2021
72 d late
2020
65 d late
2019
89 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 74 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€577,876▲ 23.7%
2021 · €467,081
EBIT margin
8.4%=
2021 · 8.3%
Net result
€28,929▲ 325%
2023 · €6,799
Working capital
€54,281▲ 133%
2023 · €23,280
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Turnover€426,627▼ 8.1%€467,081▲ 9.5%€577,876▲ 23.7%
Operating result€47,104▲ 218%€38,893▼ 17.4%€48,261▲ 24.1%€12,255▼ 74.6%€34,374▲ 180%
Net result€47,129above the sector's middle half▲ 2,648%€33,758above the sector's middle half▼ 28.4%€33,357above the sector's middle half▼ 1.2%€6,799within the sector's middle half▼ 79.6%€28,929above the sector's middle half▲ 325%
EBIT margin11.0%▲ 7.9pp8.3%▼ 2.7pp8.4%=
Equity-€200,118below the sector's middle half▲ 19.1%-€166,360below the sector's middle half▲ 16.9%-€133,003below the sector's middle half▲ 20.1%-€126,204below the sector's middle half▲ 5.1%-€97,275below the sector's middle half▲ 22.9%
Total assets€305,146within the sector's middle half▲ 9.1%€337,765above the sector's middle half▲ 10.7%€354,368above the sector's middle half▲ 4.9%€370,233above the sector's middle half▲ 4.5%€384,227above the sector's middle half▲ 3.8%
Debt€505,264▼ 4.1%€504,125▼ 0.2%€487,371▼ 3.3%€496,437▲ 1.9%€481,502▼ 3.0%
Working capital-€57,357below the sector's middle half▲ 47.0%-€23,299below the sector's middle half▲ 59.4%€15,200within the sector's middle half€23,280within the sector's middle half▲ 53.2%€54,281within the sector's middle half▲ 133%
Solvency-65.6%below the sector's middle half▲ 22.8pp-49.3%below the sector's middle half▲ 16.3pp-37.5%below the sector's middle half▲ 11.7pp-34.1%below the sector's middle half▲ 3.4pp-25.3%below the sector's middle half▲ 8.8pp
Current ratio0.84below the sector's middle half▲ 0.130.93within the sector's middle half▲ 0.091.05within the sector's middle half▲ 0.121.07within the sector's middle half▲ 0.021.17within the sector's middle half▲ 0.10
Return on assets (ROA)15.4%above the sector's middle half▲ 14.8pp10.0%within the sector's middle half▼ 5.5pp9.4%within the sector's middle half▼ 0.6pp1.8%within the sector's middle half▼ 7.6pp7.5%within the sector's middle half▲ 5.7pp
Staff (FTE)0.1below the sector's middle half▼ 90.0%1▲ 900%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 180% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €384,227
Fixed assets
€7,864 ▼ 43.2%
Current assets
€376,364 ▲ 5.6%
Key figures and ratios
EBITDA
€40,366▲
2023 · €18,453
Cash flow
€34,921▲
2023 · €12,997
Quick ratio
0.74▲
2023 · 0.56
Debt to equity
-4.95▼
2023 · -3.93
Interest coverage
7.41▲
2023 · 3.38
Debt ≤ 1 year
€322,083▼
2023 · €333,097
Debt > 1 year
€159,419▼
2023 · €163,340
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 3,632 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €426,627 | €467,081 | €577,876 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €414,206 | €518,273 | - | - | - |
| Remuneration, social security and pensions62 | - | €1,469 | - | €521 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,073 | €13,131 | €9,349 | €6,198 | €5,992 | ▼ 3.3% |
| Other operating charges640/8 | - | €1,632 | €1,993 | €3,101 | €2,696 | ▼ 13.0% |
| Gross operating margin9900 | €62,522 | €55,124 | €59,603 | €22,075 | €43,062 | ▲ 95.1% |
| Operating profit (loss)9901 | €47,104 | €38,893 | €48,261 | €12,255 | €34,374 | ▲ 180% |
| Financial income75/76B | - | €57 | €9 | - | €0 | - |
| Recurring financial income75 | €7 | €57 | €9 | - | €0 | - |
| Financial charges65/66B | - | €5,075 | €14,767 | €5,456 | €5,445 | ▼ 0.2% |
| Recurring financial charges65 | €6,757 | €5,075 | €14,767 | €5,456 | €5,445 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | €47,173 | €33,875 | €33,503 | €6,799 | €28,929 | ▲ 325% |
| Income taxes67/77 | €43 | €117 | €146 | - | - | - |
| Profit (loss) for the period9904 | €47,129 | €33,758 | €33,357 | €6,799 | €28,929 | ▲ 325% |
| Profit (loss) for the period to be appropriated9905 | €47,129 | €33,758 | €33,357 | €6,799 | €28,929 | ▲ 325% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €305,146 | €337,765 | €354,368 | €370,233 | €384,227 | ▲ 3.8% |
| Fixed assets21/28 | €12,573 | €29,403 | €20,054 | €13,856 | €7,864 | ▼ 43.2% |
| Tangible fixed assets22/27 | €11,841 | €28,671 | €19,323 | €13,125 | €7,132 | ▼ 45.7% |
| Furniture and vehicles24 | - | €8,237 | €5,096 | €3,398 | €1,905 | ▼ 43.9% |
| Leasing and similar rights25 | - | €19,180 | €14,227 | €9,727 | €5,227 | ▼ 46.3% |
| Other tangible fixed assets26 | - | €1,254 | - | - | - | - |
| Financial fixed assets28 | €731 | €731 | €731 | €731 | €731 | = |
| Current assets29/58 | €292,573 | €308,363 | €334,314 | €356,377 | €376,364 | ▲ 5.6% |
| Stocks and contracts in progress3 | €83,789 | €99,794 | €142,272 | €170,278 | €139,593 | ▼ 18.0% |
| Stocks30/36 | - | €99,794 | €142,272 | €170,278 | €139,593 | ▼ 18.0% |
| Amounts receivable within one year40/41 | €191,263 | €194,505 | €185,052 | €173,403 | €225,879 | ▲ 30.3% |
| Trade receivables40 | - | €193,733 | €184,600 | €169,551 | €220,590 | ▲ 30.1% |
| Other amounts receivable41 | - | €772 | €452 | €3,852 | €5,288 | ▲ 37.3% |
| Cash at bank and in hand54/58 | €16,706 | €13,060 | €6,003 | €9,594 | €9,773 | ▲ 1.9% |
| Deferred charges and accrued income490/1 | - | €1,004 | €987 | €3,102 | €1,118 | ▼ 64.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €305,146 | €337,765 | €354,368 | €370,233 | €384,227 | ▲ 3.8% |
| Equity10/15 | -€200,118 | -€166,360 | -€133,003 | -€126,204 | -€97,275 | ▲ 22.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | -€206,318 | -€172,560 | -€139,203 | -€132,404 | -€103,475 | ▲ 21.8% |
| Amounts payable17/49 | €505,264 | €504,125 | €487,371 | €496,437 | €481,502 | ▼ 3.0% |
| Amounts payable after more than one year17 | €155,333 | €172,464 | €168,257 | €163,340 | €159,419 | ▼ 2.4% |
| Financial debts170/4 | - | €19,485 | €15,279 | €10,361 | €6,441 | ▼ 37.8% |
| Other amounts payable178/9 | - | €152,978 | €152,978 | €152,978 | €152,978 | = |
| Amounts payable within one year42/48 | €349,930 | €331,662 | €319,114 | €333,097 | €322,083 | ▼ 3.3% |
| Current portion of amounts payable after more than one year42 | - | €5,291 | €5,291 | €6,632 | €4,960 | ▼ 25.2% |
| Trade debts44 | €40,120 | €8,278 | €4,912 | €19,937 | - | - |
| Suppliers440/4 | - | €8,278 | €4,912 | €19,937 | - | - |
| Taxes, remuneration and social security45 | - | €5,999 | €98 | - | - | - |
| Taxes450/3 | - | €5,999 | €98 | - | - | - |
| Other amounts payable47/48 | - | €312,093 | €308,812 | €306,529 | €317,123 | ▲ 3.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,129 | €33,758 | €33,357 | €6,799 | €28,929 | ▲ 325% |
| + Depreciation and write-downs630 | €8,073 | €13,131 | €9,349 | €6,198 | €5,992 | ▼ 3.3% |
| Operating cash flow (approximation) | €55,203 | €46,889 | €42,706 | €12,997 | €34,921 | ▲ 169% |
| Investment in fixed assets (approximation) | - | -€29,961 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,646 | -€7,057 | €3,591 | €179 | ▼ 95.0% |
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
2025
13-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 74 days late
2024
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 55 days late
2023
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 86 days late
2022
11-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 72 days late
2021
04-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 65 days late
2020
31-12
Financial
Highest result since 2018net €47,129 ▲2,648%
Net result €47,129, the highest in the series.
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
31-12
Financial
Weakest financial yearnet €1,715 ▼60.3%
Net result drops to €1,715, the lowest in the series; recovery starts the following year.
28-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 120 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
23-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 54 days late
Financial milestoneNBB 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Namur · 1 establishment unit since 2010
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.
Pl. des Jardins de Baseilles(EP) 115101 Namur1 establishment unit
CEMAES
since 20102.193.504.451
Similar companies · same sector and region
L'AMYCADO
BE 0746.934.543
Namur
3JBOUX
BE 0797.034.251
Gembloux
BBGA
BE 0453.190.136
Sambreville
Big Panda
BE 0525.632.904
Namur
C.J. DESIGN
BE 0460.262.822
Houyet
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,046 companies in sector 47559 we hold annual accounts for 350. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded20-10-2010
Fiscal year end31-12
Activities, NACEBEL 2025
47559Retail sale of other household articles
43223Specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0830489254
Also
9925:BE0830489254
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.