Summary
CEMO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €944,997 and a net result of €55,544. Equity remains stable across the filed financial years (±2.3% per year). Its solvency ranks better than 71% of 6,676 sector peers (NACE 64, financial year 2025). The company has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €944,997
- Profit
- €55,544
- Holdings
- 1
- MORTIER Céline Germaine GeorgesDirector
Signalslowers riskGrowing equityneutralLatest accounts filed on timeShow the evidence
Checked score
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
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Signals
This company filed its last 7 accounts on average 11 days before the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · abbreviated…
- Liquidity more than triplescurrent ratio 1.28
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result recovers in 2025; 2025 is 7% 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.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €233,103 | - | - | - | - |
| Turnover70 | €200,004 | €200,060 | €200,004 | €200,004 | - | - | - | - |
| Other operating income74 | - | - | - | €33,099 | - | - | - | - |
| Operating charges60/66A | - | - | - | €171,650 | - | - | - | - |
| Services and other goods61 | - | - | - | €142,850 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,904 | €27,904 | €27,490 | €27,830 | €45,215 | €57,699 | €59,913 | ▲ 3.8% |
| Other operating charges640/8 | - | - | - | €970 | €1,781 | €1,627 | €2,026 | ▲ 24.6% |
| Gross operating margin9900 | - | - | - | - | €133,241 | €143,423 | €151,787 | ▲ 5.8% |
| Operating profit (loss)9901 | €72,046 | €67,457 | €73,388 | €61,453 | €86,244 | €84,097 | €89,848 | ▲ 6.8% |
| Financial income75/76B | - | - | - | €251 | €445 | €3,417 | €9,555 | ▲ 180% |
| Recurring financial income75 | €161 | - | €102 | €251 | €445 | €3,417 | €9,555 | ▲ 180% |
| Income from financial fixed assets750 | - | - | - | €121 | - | - | - | - |
| Income from current assets751 | - | - | - | €128 | - | - | - | - |
| Other financial income752/9 | - | - | - | €1 | - | - | - | - |
| Financial charges65/66B | - | - | - | €2,845 | €3,739 | €14,426 | €17,122 | ▲ 18.7% |
| Recurring financial charges65 | €7,660 | €6,038 | €4,161 | €2,845 | €3,739 | €14,426 | €17,122 | ▲ 18.7% |
| Debt charges650 | €7,144 | €5,442 | €3,317 | €2,189 | - | - | - | - |
| Other financial charges652/9 | - | - | - | €656 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €64,547 | €61,420 | €69,328 | €58,858 | €82,950 | €73,088 | €82,281 | ▲ 12.6% |
| Income taxes67/77 | €19,193 | €36,047 | €20,576 | €18,021 | €25,784 | €23,849 | €26,737 | ▲ 12.1% |
| Taxes670/3 | - | - | - | €18,021 | - | - | - | - |
| Profit (loss) for the period9904 | €45,354 | €25,372 | €48,752 | €40,837 | €57,166 | €49,239 | €55,544 | ▲ 12.8% |
| Profit (loss) for the period to be appropriated9905 | €45,354 | €25,372 | €48,752 | €40,837 | €57,166 | €49,239 | €55,544 | ▲ 12.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.1m | €1.1m | €1.0m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 5.7% |
| Fixed assets21/28 | €1.0m | €1.0m | €1.0m | €0.9m | €1.0m | €0.9m | €0.9m | ▼ 5.6% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | €0.1m | €0.06m | ▼ 45.3% |
| Plant, machinery and equipment23 | - | - | - | €0.009m | €0.01m | €0.02m | €0.02m | ▼ 13.5% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.09m | €0.04m | ▼ 53.4% |
| Financial fixed assets28 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Affiliated companies280/1 | - | - | - | €0.8m | - | - | - | - |
| Participating interests280 | - | - | - | €0.8m | - | - | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.001m | - | - | - | - |
| Shares284 | - | - | - | €0.001m | - | - | - | - |
| Current assets29/58 | €0.04m | €0.06m | €0.05m | €0.07m | €0.06m | €0.3m | €0.4m | ▲ 46.1% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.1m | €0.2m | ▲ 117% |
| Other amounts receivable291 | - | - | - | - | - | €0.1m | €0.2m | ▲ 117% |
| Stocks and contracts in progress3 | - | - | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €0.04m | €0.04m | €0.05m | €0.06m | €0.04m | €0.1m | €0.2m | ▲ 17.6% |
| Trade receivables40 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 26.8% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.01m | €0.1m | €0.1m | ▲ 15.3% |
| Cash at bank and in hand54/58 | €0.003m | €0.02m | €0.005m | €0.02m | €0.02m | €0.03m | €0.01m | ▼ 64.7% |
| Deferred charges and accrued income490/1 | - | - | - | €326 | €0.001m | €0.002m | €0.002m | ▲ 14.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.0m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 5.7% |
| Equity10/15 | €0.8m | €0.8m | €0.9m | €0.9m | €0.8m | €0.9m | €0.9m | ▲ 6.2% |
| Contributions10/11 | €0.2m | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.6m | €0.6m | €0.7m | €0.7m | €0.6m | €0.7m | €0.7m | ▲ 8.1% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | €0 | - | - |
| Distributable reserves133 | - | - | - | €0.7m | €0.6m | €0.7m | €0.7m | ▲ 8.1% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €0.2m | €0.2m | €0.1m | €0.08m | €0.2m | €0.3m | €0.3m | ▲ 4.2% |
| Amounts payable after more than one year17 | €0.1m | €0.08m | €0.04m | €0.01m | €0.05m | €0.1m | €0.1m | ▲ 24.1% |
| Financial debts170/4 | - | - | - | €0.01m | €0.05m | €0.1m | €0.1m | ▲ 24.1% |
| Credit institutions173 | - | - | - | €0.01m | - | - | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.08m | €0.07m | €0.2m | €0.2m | €0.2m | ▼ 6.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.03m | €0.09m | €0.09m | ▲ 4.6% |
| Financial debts43 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | ▼ 2.1% |
| Credit institutions430/8 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | ▼ 2.1% |
| Trade debts44 | €0.003m | €0.01m | €0.005m | €0.01m | €0.004m | €0.005m | €0.003m | ▼ 43.0% |
| Suppliers440/4 | - | - | - | €0.01m | €0.004m | €0.005m | €0.003m | ▼ 43.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.008m | €0.02m | €0.02m | €0.02m | ▼ 7.3% |
| Taxes450/3 | - | - | - | €0.008m | €0.02m | €0.02m | €0.02m | ▼ 9.5% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €456 | - |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.1m | €0.08m | €0.06m | ▼ 18.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | €180 | €128 | €239 | ▲ 86.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,354 | €25,372 | €48,752 | €40,837 | €57,166 | €49,239 | €55,544 | ▲ 12.8% |
| + Depreciation and write-downs630 | €27,904 | €27,904 | €27,490 | €27,830 | €45,215 | €57,699 | €59,913 | ▲ 3.8% |
| Operating cash flow (approximation) | €73,258 | €53,276 | €76,241 | €68,667 | €102,381 | €106,938 | €115,457 | ▲ 8.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€5,512 | -€96,509 | -€13,376 | -€6,515 | ▲ 51.3% |
| Change in cash | - | €18,339 | -€16,286 | €11,345 | €599 | €10,518 | -€18,059 | - |
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 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 29-01-2026 | 2026-00018146 |
| 30-06-2024 | abbreviated format | 30-01-2025 | 2025-00015399 |
| 30-06-2023 | abbreviated format | 30-01-2024 | 2024-00023136 |
| 30-06-2022 | full format | 27-01-2023 | 2023-00006189 |
| 30-06-2021 | full format | 28-01-2022 | 2022-02800441 |
| 30-06-2020 | full format | 28-01-2021 | 2021-02100182 |
| 30-06-2019 | full format | 02-12-2019 | 2019-74900398 |
| 30-06-2018 | abbreviated format | 30-11-2018 | 2018-73300231 |
| 30-06-2017 | abbreviated format | 30-11-2017 | 2017-70500559 |
| 30-06-2016 | abbreviated format | 18-11-2016 | 2016-68000085 |
Similar companies · same sector, comparable size
Public 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 |
|---|---|
| MORTIER Céline Germaine Georges |
|
Owners and capital
Capital and shareholders
- 28-12-2023 Converted to unavailable equity · €220,000
Group and network
Holdings and subsidiaries
1 holding · 9 subsidiaries in the treeHoldings 1
-
80%
All subsidiaries, including indirect ones 9+
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
M-Holding 80%8 subsidiaries
ALPHA MARINE SYSTEMS 98%7 subsidiaries
MARTIN EN CO 88.16%6 subsidiaries
- Bogerd Martin (Dubai) Marine EquipmentDJ 100%
- Bogerd Martin (Shanghai) Marine Electronic Technology CoCN 100%
- Bogerd Martin Hellas IKEGR 100%
- Bogerd Martin Hong KongHK 100%
- Bogerd Martin Marine Hong KongHK 100%
- BOGERD MARTIN 99.83%
The tree shows 9 companies up to 4 levels deep; there are more. Open a subsidiary's dossier to look further.
According to the annual accounts to 30-06-2025 of CEMO and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
3 connected companiesHistory
Acts, filings and financial milestones
28-12
Gazette deed
Resignation: MORTIER Céline Germaine Georges (manager)Appointment: MORTIER Céline Germaine Georges (director) · Legal form clause · Capital conversion10 facts ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Legal form clause, “besloten vennootschap (afgekort BV)” (deed in Dutch)
- Other provision, “aanpassing statuten aan Wetboek van vennootschappen en verenigingen en behoud rechtsvorm, artikel 39 §1 eerste en derde lid wet 23-03-2019” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden van statutenwijziging, opheffing” (deed in Dutch)
- Amendment of the articles
- Director resignation, MORTIER Céline Germaine Georges (manager)
- Director appointment, MORTIER Céline Germaine Georges (director (not named in the articles))
- Director discharge, MORTIER Céline Germaine Georges
- Registered office clause, “2900 Schoten, Botermelkdijk 398” (deed in Dutch)
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 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
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CEMO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren in België of buitenland bij enkel besluit…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen, een of meer bestuurders” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, vennootschap en derden” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of December at 11:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing algemene vergadering beslissende in vormen vereist voor statutenwijziging, op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bij ontbinding om welke reden en op welk ogenblik ook, onverminderd recht algemene vergadering één of meerdere vereffenaars aan te duiden…” (deed in Dutch)