Summary
CENEO 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 €959.6m and a net result of €41.4m. Equity remains stable across the filed financial years (±1.2% per year). Its solvency ranks better than 70% of 3,016 sector peers (NACE 64, financial year 2025). The company has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
In the rankings
#1 company by equity in Charleroi, Finance and insurance sector#2 company by total assets in Charleroi, Finance and insurance sector
Equity
€959.6m▲ 1.8%
2024 · €943.1m
Net result
€41.4m▼ 2.9%
2024 · €42.6m
Total assets
€1.17bn▲ 0.3%
2024 · €1.17bn
Solvency
81.9%▲ 1.2pp
2024 · 80.7%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €1.3m in 2025 against €1.4m in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€1.0m
2025
Operating result-€1.3m
2025
Net result€41.4m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1,171.7m
2025
Equity€959.6m
2025
Debt€212.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€14.0m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)3.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency81.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.75
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0.2
2024
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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.5m-€0.5m▼ 0.1%€0.4m▼ 6.6%€0.4m▼ 1.2%€0.5m▲ 9.6%€0.5m▲ 6.6%€0.5m▲ 1.3%€1.0m▲ 90.6%
Operating result-€1.1m--€1.0m▲ 11.7%-€1.1m▼ 5.3%-€1.2m▼ 11.3%-€1.1m▲ 6.4%-€1.4m▼ 23.6%-€1.4m▼ 2.3%-€1.3m▲ 5.1%
Net result€40.7m-€168.2m▲ 313%€40.1m▼ 76.2%€38.6m▼ 3.9%€42.3m▲ 9.6%€41.7m▼ 1.2%€42.6m▲ 2.1%€41.4mabove the sector's middle half▼ 2.9%
Equity€578.8m-€903.4m▲ 56.1%€907.9m▲ 0.5%€910.6m▲ 0.3%€918.2m▲ 0.8%€929.9m▲ 1.3%€943.1m▲ 1.4%€959.6mabove the sector's middle half▲ 1.8%
Total assets€846.2m-€1,161.3m▲ 37.2%€1,155.1m▼ 0.5%€1,147.8m▼ 0.6%€1,142.5m▼ 0.5%€1,151.9m▲ 0.8%€1,168.7m▲ 1.5%€1,171.7mabove the sector's middle half▲ 0.3%
Debt€267.4m-€257.9m▼ 3.6%€247.1m▼ 4.2%€237.2m▼ 4.0%€224.3m▼ 5.4%€222.1m▼ 1.0%€225.7m▲ 1.6%€212.1m▼ 6.0%
Working capital€21.3m-€18.2m▼ 14.8%-€46.5m-€1.6m▲ 96.5%-€33.4m▼ 1,925%-€9.5m▲ 71.6%-€11.2m▼ 17.6%-€14.0mbelow the sector's middle half▼ 25.6%
Solvency68.4%-77.8%▲ 9.4pp78.6%▲ 0.8pp79.3%▲ 0.7pp80.4%▲ 1.0pp80.7%▲ 0.4pp80.7%=81.9%within the sector's middle half▲ 1.2pp
Current ratio1.91-1.77▼ 0.150.41▼ 1.350.94▲ 0.520.37▼ 0.560.75▲ 0.370.80▲ 0.050.75within the sector's middle half▼ 0.05
Return on assets (ROA)4.8%-14.5%▲ 9.7pp3.5%▼ 11.0pp3.4%▼ 0.1pp3.7%▲ 0.3pp3.6%▼ 0.1pp3.6%=3.5%within the sector's middle half▼ 0.1pp
Staff (FTE)0.8-0.8=0.8=0.8=0.8=0.8=0.2▼ 75.0%
above
within
below
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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.17bn
Fixed assets
€1.13bn ▲ 0.4%
Current assets
€43.1m ▼ 3.7%
Equity and liabilities €1.17bn
Equity
€959.6m ▲ 1.8%
Debt
€212.1m ▼ 6.0%
Debt's share of the balance-sheet total falls from 19.3% to 18.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
4.3%▼
2024 · 4.5%
Debt ≤ 1 year
€57.1m▲
2024 · €55.9m
Debt > 1 year
€154.5m▼
2024 · €169.2m
Income taxes
€238,145▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €1.4m | €1.4m | €1.2m | €1.6m | €1.6m | ▲ 2.0% |
| Turnover70 | €0.5m | €0.5m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €1.0m | ▲ 90.6% |
| Other operating income74 | - | - | - | €1.0m | €0.9m | €0.7m | €1.1m | €0.7m | ▼ 39.1% |
| Operating charges60/66A | - | - | - | €2.6m | €2.5m | €2.6m | €3.0m | €2.9m | ▼ 1.3% |
| Services and other goods61 | - | - | - | €1.6m | €1.5m | €1.8m | €1.9m | €2.3m | ▲ 20.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.07m | €0.08m | €0.08m | €0.02m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.002m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €1.0m | €0.9m | €0.6m | €1.0m | €0.6m | ▼ 41.9% |
| Operating profit (loss)9901 | -€1.1m | -€1.0m | -€1.1m | -€1.2m | -€1.1m | -€1.4m | -€1.4m | -€1.3m | ▲ 5.1% |
| Financial income75/76B | - | - | - | €43.2m | €46.9m | €46.5m | €48.3m | €47.2m | ▼ 2.2% |
| Recurring financial income75 | €48.1m | €50.1m | €42.9m | €43.2m | €43.9m | €46.5m | €48.3m | €47.2m | ▼ 2.2% |
| Income from financial fixed assets750 | - | - | - | €43.0m | €43.6m | €45.7m | €46.7m | €45.5m | ▼ 2.7% |
| Income from current assets751 | - | - | - | €0.2m | €0.3m | €0.8m | €1.5m | €1.7m | ▲ 13.2% |
| Other financial income752/9 | - | - | - | €0.03m | €0.02m | €0.03m | €0.06m | €0.07m | ▲ 14.8% |
| Non-recurring financial income76B | - | - | - | €0 | €3.0m | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €3.5m | €3.6m | €3.4m | €4.3m | €4.3m | ▼ 0.1% |
| Recurring financial charges65 | €4.2m | €4.0m | €3.7m | €3.5m | €3.6m | €3.4m | €4.2m | €4.3m | ▲ 1.0% |
| Debt charges650 | €4.2m | €4.0m | €3.7m | €3.5m | €3.6m | €3.4m | €4.2m | €4.2m | ▲ 1.6% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | €0.05m | €0.04m | €0.01m | ▼ 66.9% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €0.05m | €0.003m | ▼ 93.8% |
| Profit (loss) for the period before taxes9903 | €40.7m | €168.4m | €40.1m | €38.6m | €42.3m | €41.7m | €42.6m | €41.6m | ▼ 2.3% |
| Income taxes67/77 | - | €0.2m | - | - | €0 | €0 | €0 | €0.2m | - |
| Taxes670/3 | - | - | - | - | €0 | €0 | €0 | €0.2m | - |
| Profit (loss) for the period9904 | €40.7m | €168.2m | €40.1m | €38.6m | €42.3m | €41.7m | €42.6m | €41.4m | ▼ 2.9% |
| Profit (loss) for the period to be appropriated9905 | €40.7m | €168.2m | €40.1m | €38.6m | €42.3m | €41.7m | €42.6m | €41.4m | ▼ 2.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €846.2m | €1,161.3m | €1,155.1m | €1,147.8m | €1,142.5m | €1,151.9m | €1,168.7m | €1,171.7m | ▲ 0.3% |
| Formation expenses20 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €801.6m | €1,119.5m | €1,122.5m | €1,123.8m | €1,122.6m | €1,124.0m | €1,124.0m | €1,128.6m | ▲ 0.4% |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.1m | ▼ 64.9% |
| Land and buildings22 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 13.6% |
| Plant, machinery and equipment23 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.001m | €287 | €0 | €0 | - |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.1m | €0.2m | - | - |
| Financial fixed assets28 | €801.3m | €1,119.2m | €1,122.2m | €1,123.5m | €1,122.4m | €1,123.6m | €1,123.6m | €1,128.5m | ▲ 0.4% |
| Companies linked by participating interests282/3 | - | - | - | €1,104.7m | €1,106.5m | €1,107.7m | €1,107.7m | €1,112.5m | ▲ 0.4% |
| Participating interests282 | - | - | - | €1,104.7m | €1,106.5m | €1,107.7m | €1,107.7m | €1,112.5m | ▲ 0.4% |
| Other financial fixed assets284/8 | - | - | - | €18.9m | €15.9m | €15.9m | €15.9m | €15.9m | ▲ 0.1% |
| Shares284 | - | - | - | €18.9m | €15.9m | €15.9m | €15.9m | €15.9m | ▲ 0.1% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €363 | €363 | €363 | €0 | - | - |
| Current assets29/58 | €44.6m | €41.8m | €32.6m | €24.0m | €19.8m | €28.0m | €44.7m | €43.1m | ▼ 3.7% |
| Amounts receivable after more than one year29 | - | - | - | €7.6m | €12.4m | €15.3m | €22.7m | €29.3m | ▲ 29.3% |
| Other amounts receivable291 | - | - | - | €7.6m | €12.4m | €15.3m | €22.7m | €29.3m | ▲ 29.3% |
| Amounts receivable within one year40/41 | €8.0m | €9.0m | €2.9m | €1.1m | €1.3m | €2.9m | €11.5m | €3.6m | ▼ 68.8% |
| Trade receivables40 | - | - | - | €0.8m | €0.5m | €0.2m | €0.5m | €0.8m | ▲ 79.3% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.7m | €2.6m | €11.0m | €2.8m | ▼ 74.8% |
| Current investments50/53 | €23.0m | €24.0m | €17.0m | €6.0m | €324 | €346 | €471 | €470 | ▼ 0.2% |
| Other investments51/53 | - | - | - | €6.0m | €324 | €346 | €471 | €470 | ▼ 0.2% |
| Cash at bank and in hand54/58 | €11.4m | €5.3m | €7.1m | €9.2m | €5.8m | €9.3m | €9.1m | €9.0m | ▼ 1.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.4m | €0.5m | €1.5m | €1.2m | ▼ 16.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €846.2m | €1,161.3m | €1,155.1m | €1,147.8m | €1,142.5m | €1,151.9m | €1,168.7m | €1,171.7m | ▲ 0.3% |
| Equity10/15 | €578.8m | €903.4m | €907.9m | €910.6m | €918.2m | €929.9m | €943.1m | €959.6m | ▲ 1.8% |
| Contributions10/11 | €307.4m | €309.2m | - | €314.6m | €318.2m | €327.2m | €327.2m | €327.2m | = |
| Revaluation surpluses12 | - | - | - | €386.5m | €386.5m | €386.5m | €386.5m | €386.5m | = |
| Reserves13 | €76.6m | €207.7m | €209.5m | €209.5m | €213.4m | €216.1m | €229.3m | €245.9m | ▲ 7.2% |
| Non-distributable reserves130/1 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves not available under the articles1311 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Distributable reserves133 | - | - | - | €209.1m | €213.1m | €215.8m | €229.0m | €245.6m | ▲ 7.2% |
| Investment grants15 | - | - | - | €0.01m | €0.01m | €0.01m | €0.009m | €0.008m | ▼ 14.3% |
| Amounts payable17/49 | €267.4m | €257.9m | €247.1m | €237.2m | €224.3m | €222.1m | €225.7m | €212.1m | ▼ 6.0% |
| Amounts payable after more than one year17 | €243.2m | €233.4m | €167.4m | €211.1m | €170.2m | €183.7m | €169.2m | €154.5m | ▼ 8.7% |
| Financial debts170/4 | - | - | - | €211.1m | €170.2m | €183.7m | €169.2m | €154.5m | ▼ 8.7% |
| Credit institutions173 | - | - | - | €211.1m | €170.2m | €183.7m | €169.2m | €154.5m | ▼ 8.7% |
| Amounts payable within one year42/48 | €23.3m | €23.7m | €79.1m | €25.7m | €53.2m | €37.4m | €55.9m | €57.1m | ▲ 2.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12.7m | €40.9m | €14.3m | €15.7m | €14.7m | ▼ 6.6% |
| Financial debts43 | - | - | - | - | - | €10.0m | €29.8m | €33.1m | ▲ 11.1% |
| Credit institutions430/8 | - | - | - | - | - | €10.0m | €29.8m | €33.1m | ▲ 11.1% |
| Trade debts44 | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.9m | ▲ 98.1% |
| Suppliers440/4 | - | - | - | €0.3m | €0.4m | €0.5m | €0.5m | €0.9m | ▲ 98.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.06m | €0.02m | €0.004m | €0.003m | ▼ 12.1% |
| Taxes450/3 | - | - | - | €0.09m | €0.05m | €0.007m | €0.004m | €0.003m | ▼ 12.1% |
| Remuneration and social security454/9 | - | - | - | €0.009m | €0.01m | €0.01m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €12.5m | €11.9m | €12.6m | €9.9m | €8.4m | ▼ 15.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.5m | €0.9m | €0.9m | €0.6m | €0.4m | ▼ 21.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40.7m | €168.2m | €40.1m | €38.6m | €42.3m | €41.7m | €42.6m | €41.4m | ▼ 2.9% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 1.3% |
| Operating cash flow (approximation) | €40.7m | €168.2m | €40.1m | €38.6m | €42.3m | €41.8m | €42.6m | €41.4m | ▼ 2.9% |
| Investment in fixed assets (approximation) | - | -€317.9m | -€3.0m | -€1.3m | €1.1m | -€1.3m | -€0.04m | -€4.6m | ▼ 11,336% |
| Change in cash | - | -€6.1m | €1.8m | €2.1m | -€3.4m | €3.5m | -€0.2m | -€0.2m | ▲ 10.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 55 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 13-07-2026 | 2026-00312320 |
| 31-12-2024 | unclassified schema | 16-07-2025 | 2025-00290532 |
| 31-12-2023 | unclassified schema | 12-07-2024 | 2024-00243594 |
| 31-12-2022 | unclassified schema | 16-08-2023 | 2023-00329408 |
| 31-12-2021 | unclassified schema | 02-08-2022 | 2022-20279163 |
| 31-12-2020 | unclassified schema | 21-10-2021 | 2021-72700528 |
| 31-12-2019 | full format | 07-07-2020 | 2020-28800276 |
| 31-12-2018 | full format | 08-07-2019 | 2019-30700228 |
| 31-12-2017 | full format | 09-07-2018 | 2018-31600441 |
| 31-12-2016 | full format | 07-07-2017 | 2017-29900125 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.