CEMATH CONSULT
ActiveSummary
CEMATH CONSULT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €408,308 and a net result of €181,075. Equity is growing by ~57% per year across the filed fiscal years. Its solvency ranks better than 92% of 31840 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 9.99 against 7.83 in 2024; short-term debt: 6.3% and cash: 54.2% of total assets), and 6.4% 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
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
93.6%
Return on assets
41.5%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
17 d late
2024
1 d early
2023
6 d early
2022
39 d early
2021
26 d late
2020
11 d early
2019
7 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 3 days before 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit simulator 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 What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Equity
€408,308▲ 79.7%
2024 · €227,233
Total assets
€436,010▲ 72.3%
2024 · €253,077
Net result
€181,075▲ 50.7%
2024 · €120,155
Working capital
€247,050▲ 41.4%
2024 · €174,706
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€65,578▼ 29.8%€39,816▼ 39.3%€102,039▲ 156%€153,221▲ 50.2%€236,167▲ 54.1%
Net result€49,964▼ 30.8%€26,309▼ 47.3%€79,739▲ 203%€120,155▲ 50.7%€181,075▲ 50.7%
Equity€151,030▲ 49.4%€27,339▼ 81.9%€107,078▲ 292%€227,233▲ 112%€408,308▲ 79.7%
Total assets€183,048▲ 35.1%€66,512▼ 63.7%€126,448▲ 90.1%€253,077▲ 100%€436,010▲ 72.3%
Debt€32,018▼ 7.1%€39,173▲ 22.3%€19,369▼ 50.6%€25,844▲ 33.4%€27,702▲ 7.2%
Working capital€137,000▲ 71.5%€18,255▼ 86.7%€37,826▲ 107%€174,706▲ 362%€247,050▲ 41.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 54% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €436,010
Fixed assets
€161,476 ▲ 206%
Current assets
€274,534 ▲ 37.1%
Equity and liabilities €436,010
Equity
€408,308 ▲ 79.7%
Debt
€27,702 ▲ 7.2%
Debt's share of the balance-sheet total falls from 10.2% to 6.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€252,464▲
2024 · €169,519
Cash flow
€197,373▲
2024 · €136,452
Current ratio
9.99▲
2024 · 7.83
Debt to equity
0.07▼
2024 · 0.11
ROE
44.3%▼
2024 · 52.9%
ROA
41.5%▼
2024 · 47.5%
Interest coverage
419.10▲
2024 · 335.82
Debt ≤ 1 year
€27,485▲
2024 · €25,597
Income taxes
€55,201▲
2024 · €35,260
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 | - | - | €622 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,040 | €8,117 | €12,570 | €16,297 | €16,297 | = |
| Other operating charges640/8 | €1,300 | €1,303 | €1,551 | €1,112 | €1,217 | ▲ 9.5% |
| Non-recurring operating charges66A | - | - | - | €181 | €0 | ▼ 100% |
| Gross operating margin9900 | €74,918 | €49,237 | €116,160 | €170,812 | €253,681 | ▲ 48.5% |
| Operating profit (loss)9901 | €65,578 | €39,816 | €102,039 | €153,221 | €236,167 | ▲ 54.1% |
| Financial income75/76B | €0 | €1 | €0 | €2,698 | €712 | ▼ 73.6% |
| Recurring financial income75 | €0 | €1 | €0 | €2,698 | €712 | ▼ 73.6% |
| Financial charges65/66B | €102 | €57 | €770 | €505 | €602 | ▲ 19.3% |
| Recurring financial charges65 | €102 | €57 | €770 | €505 | €602 | ▲ 19.3% |
| Profit (loss) for the period before taxes9903 | €65,477 | €39,760 | €101,269 | €155,415 | €236,276 | ▲ 52.0% |
| Income taxes67/77 | €15,513 | €13,451 | €21,530 | €35,260 | €55,201 | ▲ 56.6% |
| Profit (loss) for the period9904 | €49,964 | €26,309 | €79,739 | €120,155 | €181,075 | ▲ 50.7% |
| Profit (loss) for the period to be appropriated9905 | €49,964 | €26,309 | €79,739 | €120,155 | €181,075 | ▲ 50.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €183,048 | €66,512 | €126,448 | €253,077 | €436,010 | ▲ 72.3% |
| Fixed assets21/28 | €14,030 | €9,222 | €69,252 | €52,773 | €161,476 | ▲ 206% |
| Tangible fixed assets22/27 | €13,530 | €8,722 | €68,752 | €52,273 | €35,976 | ▼ 31.2% |
| Furniture and vehicles24 | €13,530 | €8,722 | €68,752 | €52,273 | €35,976 | ▼ 31.2% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €125,500 | ▲ 25,000% |
| Current assets29/58 | €169,018 | €57,290 | €57,196 | €200,303 | €274,534 | ▲ 37.1% |
| Amounts receivable within one year40/41 | €30,392 | €21,726 | €18,461 | €18,233 | €19,461 | ▲ 6.7% |
| Trade receivables40 | €30,382 | €21,580 | €17,485 | €18,233 | €19,461 | ▲ 6.7% |
| Other amounts receivable41 | €10 | €147 | €976 | €0 | - | - |
| Current investments50/53 | - | - | - | €105,915 | €17,745 | ▼ 83.2% |
| Cash at bank and in hand54/58 | €138,495 | €35,564 | €38,717 | €75,273 | €236,442 | ▲ 214% |
| Deferred charges and accrued income490/1 | €131 | €0 | €18 | €883 | €887 | ▲ 0.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €183,048 | €66,512 | €126,448 | €253,077 | €436,010 | ▲ 72.3% |
| Equity10/15 | €151,030 | €27,339 | €107,078 | €227,233 | €408,308 | ▲ 79.7% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €150,000 | €26,300 | €106,000 | €226,000 | €407,308 | ▲ 80.2% |
| Distributable reserves133 | €150,000 | €26,300 | €106,000 | €226,000 | €407,308 | ▲ 80.2% |
| Profit (loss) carried forward14 | €30 | €39 | €78 | €233 | €0 | ▼ 100% |
| Amounts payable17/49 | €32,018 | €39,173 | €19,369 | €25,844 | €27,702 | ▲ 7.2% |
| Amounts payable within one year42/48 | €32,018 | €39,035 | €19,369 | €25,597 | €27,485 | ▲ 7.4% |
| Trade debts44 | €1,659 | €2,718 | €2,847 | €4,090 | €1,284 | ▼ 68.6% |
| Suppliers440/4 | €1,659 | €2,718 | €2,847 | €4,090 | €1,284 | ▼ 68.6% |
| Taxes, remuneration and social security45 | €28,036 | €31,741 | €11,944 | €17,301 | €21,635 | ▲ 25.1% |
| Taxes450/3 | €28,036 | €29,241 | €11,944 | €17,301 | €21,635 | ▲ 25.1% |
| Remuneration and social security454/9 | - | €2,500 | €0 | - | - | - |
| Other amounts payable47/48 | €2,323 | €4,577 | €4,579 | €4,206 | €4,565 | ▲ 8.6% |
| Accrued charges and deferred income492/3 | - | €138 | €0 | €247 | €217 | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,964 | €26,309 | €79,739 | €120,155 | €181,075 | ▲ 50.7% |
| + Depreciation and write-downs630 | €8,040 | €8,117 | €12,570 | €16,297 | €16,297 | = |
| Operating cash flow (approximation) | €58,005 | €34,426 | €92,309 | €136,452 | €197,373 | ▲ 44.6% |
| Investment in fixed assets (approximation) | - | -€3,309 | -€72,600 | €181 | -€125,000 | ▼ 69,008% |
| Change in cash | - | -€102,931 | €3,153 | €36,556 | €161,169 | ▲ 341% |
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
08-09
State Gazette act
General meeting · Capital increase
Capital · Statutes amendment
08-09
State Gazette act
General meeting · Statutes amendment
Name change · Registered-office move
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2025
31-12
Financial
Highest result since 2019net €181,075 ▲50.7%
Operating result €236,167, net result €181,075, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 7.83
Current ratio from 2.95 to 7.83.
31-12
Financial
Equity above €200,000Eq €227,233 ▲112%
6 profitable years in a row build equity to €227,233.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 2.95
Current ratio from 1.47 to 2.95; short-term debt falls from €39,035 to €19,369.
31-12
Financial
Equity above €100,000Eq €107,078 ▲292%
5 profitable years in a row build equity to €107,078.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €26,309 ▼47.3%
Net result drops to €26,309, the lowest in the series; recovery starts the following year.
Show earlier events
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Equity above €150,000Eq €151,030 ▲49.4%
3 profitable years in a row build equity to €151,030.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100,000Eq €101,066 ▲250%
2 profitable years in a row build equity to €101,066.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
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, Brugge · 1 establishment unit since 2019
Ground area
716 m²
Building footprint
716 m²
Volume, LiDAR
5,640 m³
Parcel 31027D0299/00L007, Flanders · tallest building 9.5 m, ±3 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
CEMATH CONSULT
since 20192.292.992.007
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31027D0299/00L007 | Flanders | 716 m² | 1 · 716 m² | 9.5 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 594 EUR awarded · 594 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 594 EUR | 594 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,583. 36,235 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
Founded23-08-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.