CENEL

Active

Private limited companyfounded 2021active for 5 yearsHalle-Velden 109, 2980 Zoersel, BelgiumKBO/BCE: BE 0771.904.125

Summary

CENEL has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €33.3m and a net result of €3.7m. Equity remains stable across the filed financial years (±2.3% per year). Its solvency ranks better than 67% of 11,189 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Risk analysisFollow Report Compare

CENELActiveChecked score 69/100

Risk analysis Report Compare

Activity

Buying and selling of own real estate

NACE 68110Renting and operating of own or leased residential real estate, excluding social housing NACE 68201

2nd largest company by equity in Zoersel2 sites

Size

€64.7mtotal assets 2025

Staff: 0.8 FTE
Equity: €33.3m
Profit: €3.7m

Turnover not published (abbreviated format)Total assets +159%: merger

Financial health

69 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.9%

Structure

Parent: IMMOWE · 57.23%
Holdings: 7

Sophie GeurtsDirector

2025 accounts filed 31 days late7 of 9 deeds summarised

Why 69raises riskLiquidity: current ratio 2.33, cash €90,182, halved1 change of registered office in 24 monthslowers riskSector: Real estate activities (NACE 68)Size: 0.8 FTE, total assets €64.7mShow the evidence

Checked score

Score 2025

69 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially better than 68% of its sector peers (NACE 68, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 76+17

equity 51.5% of total assets

Liquidity 46-5

short-term debt 17.2% · cash 0.1%

Profitability 76+42

return on assets 5.7%

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,614 companies, NACE 68, micro)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025lowest value 05-2025: 0.9%▲ +0.8 percentage points vs 04-2025 06-2025: 1.0%▲ +0.1 percentage points vs 05-2025 07-2025: 1.1%▲ +0.1 percentage points vs 06-2025 08-2025: 2.1%▲ +1.0 percentage point vs 07-2025highest value 09-2025: 2.1%● unchanged vs 08-2025highest value 10-2025: 2.1%● unchanged vs 09-2025highest value 11-2025: 2.1%● unchanged vs 10-2025highest value 12-2025: 2.1%● unchanged vs 11-2025highest value 01-2026: 0.6%▼ -1.5 percentage points vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.7%▲ +0.1 percentage points vs 03-2026 05-2026: 0.7%● unchanged vs 04-2026 06-2026: 0.8%▲ +0.1 percentage points vs 05-2026 07-2026: 0.9%▲ +0.1 percentage points vs 06-2026 08-2026: 1.4%▲ +0.5 percentage points vs 07-2026 09-2026: 0.9%▼ -0.5 percentage points vs 08-2026 10-2026: 0.9%● unchanged vs 09-2026

Credit of up to €2,250,000 on 30-day terms is acceptable

Liquidity ample (current ratio 2.33, compared with 3.07 in 2024, above the usual 1.5; short-term debt: 17.2% and cash: 0.1% of total assets), and 48.5% of the assets are financed with debt and provisions.

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 (NACE 68, micro): better than 65% on solvency, 40% on liquidity, 71% on profitability and 97% on growth.

The bankruptcy probability was computed on 25-10-2026 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

Six signals.

lowers riskraises risk

Liquidity: current ratio 2.33, cash €90,182, halved

NBB · annual accounts

Sector: Real estate activities (NACE 68)

KBO

Size: 0.8 FTE, total assets €64.7m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

1 change of registered office in 24 months

Belgian Official Gazette

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

2122232425

2021 to 2025 · latest year €33.3m

2025 accounts filed 31 days late

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 5 filings

Deviation from the deadline

2025

31 days late

2024

22 days early

2023

33 days early

2022

25 days late

2021

68 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 5 accounts on average 14 days after the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 August (4 of the last 5 filed years within 47 days of that day).

Companies Code · seven months

Where today falls in the filing period

26-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

22-09-2026 Resignation: Brigitte Goethals (director)Appointment: Sophie Geurts (director)
31-08-2026 Annual accounts filedfinancial year 2025 · abbreviated…
13-01-2026 Capital & shares · RestructuringMerger · Auditor report ·…

Key points

Result rose in 2025merger with CENIM ▲ 42× View
Positive: Among the best 5% on net resultsector median €10,062 · 11,181 companies €3.7m View
Caution: Board changedlatest change 01-04-2026 · 1 in office 1 joined · 1 left View
2 restructurings since 2025latest: merger with CENIM 2 View
Controlled by IMMOWEthe company in turn controls 5 companies 57.23% View

By topic

Financials

Financial year: 2025
Total assets: €64.7m
Profit: €3.7m
Solvency: 51.5%

Total assets▲ 159%

Net result

20212025

Go to Financials

Board & ownership

Board: 1 member
Parent: IMMOWE · 57.23%

Sophie GeurtsDirector

Go to Board & ownership

Network & group

Subsidiaries, all levels: 5
Direct holdings: 7
Mergers and asset contributions: 2

7 holdings

Go to Network & group

Timeline

Events: 16
Since: 2022
Next accounts: by 31-07-2027

13-01-2026Capital & shares · Restructuring
31-12-2025Highest result from 2021 to 2025
31-12-2025Equity above €25m

Go to Timeline

Company details

Sites: 2

Legal form: Private limited company
Activity: Buying and selling of own real estateNACE 68110
Founded: 02-08-2021
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 4

Purpose: “A/ het verwerven van participaties in eender welke vorm in alle bestaande of op te richten…” (deed in Dutch)

Go to Articles of association

Key facts about CENEL

What is the company number of CENEL?: 0771.904.125. In Belgium the VAT number is the company number with BE in front: BE 0771.904.125.
Where is CENEL based?: The registered office is at Halle-Velden 109, 2980 Zoersel.Company details
What does CENEL do?: According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
What is the legal form of CENEL?: Private limited company (BV).
When was CENEL founded?: On 02-08-2021.
Is CENEL still active?: Yes, CENEL is an active enterprise in the KBO register.
How many employees does CENEL have?: On average 0.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of CENEL?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
Is CENEL profitable?: In financial year 2025, CENEL made a profit of €3.7m.
Where can I find the annual accounts of CENEL?: CENEL filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of CENEL due?: By 31-07-2027, for financial year 2026.Timeline