Cennox Managed Services
ActiveSummary
Cennox Managed Services has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.74M and a net result of €-853k. Equity is shrinking by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 28% of 1416 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
38
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▼-1
Solvency38▼-10
Growth44▼-13
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days only on tighter terms
Liquidity short (current ratio 0.73 against 0.92 in 2024; short-term debt: 86.8% and cash: 4.1% of total assets), and 87.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 62
Relative position
BE, all sectors
reference
Sector 62
lower
← 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
12.5%
Return on assets
-6.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year €-853k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 5 filingsDeviation from the deadline
2025
28 d late
2024
54 d late
2023
30 d late
2022
20 d early
2021
3 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€25.29M▲ 10.9%
2024 · €22.80M
2021: €17.43M
2022: €16.62M
2023: €19.67M
2024: €22.80M
2021 → 2025
EBIT margin
-2.6%▼ 0.8pp
2024 · -1.8%
2021: 2.3%
2022: 6.3%
2023: 2.1%
2024: -1.8%
2021 → 2025
Net result
€-853k▼ 53.8%
2024 · €-555k
2021: €78k
2022: €590k
2023: €124k
2024: €-555k
2021 → 2025
Working capital
€-3.28M▼ 360%
2024 · €-714k
2021: €1.82M
2022: €1.54M
2023: €1.15M
2024: €-714k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€17.43M-€16.62M▼ 4.7%€19.67M▲ 18.4%€22.80M▲ 15.9%€25.29M▲ 10.9%
Equity€2.43M-€3.02M▲ 24.3%€3.15M▲ 4.1%€2.59M▼ 17.6%€1.74M▼ 32.9%
Operating result€408k-€1.04M▲ 155%€422k▼ 59.5%€-412k€-660k▼ 60.0%
Net result€78k-€590k▲ 655%€124k▼ 78.9%€-555k€-853k▼ 53.8%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €660k in 2025 against €412k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.91M
Fixed assets
€5.12M ▲ 51.2%
Current assets
€8.79M ▲ 13.1%
Equity and liabilities €13.91M
Equity
€1.74M ▼ 32.9%
Debt
€12.17M ▲ 42.1%
Debt's share of the balance-sheet total rises from 76.8% to 87.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-391k▼
2024 · €-292k
Cash flow
€-584k▼
2024 · €-434k
Current ratio
0.73▼
2024 · 0.92
Quick ratio
0.71▼
2024 · 0.90
Debt to equity
6.99▲
2024 · 3.30
ROE
-49.0%▼
2024 · -21.4%
ROA
-6.1%▼
2024 · -5.0%
Interest coverage
-1.53▲
2024 · -2.18
Debt ≤ 1 year
€12.08M▲
2024 · €8.49M
Income taxes
€28k▼
2024 · €52k
Staff costs
€10.07M▲
2024 · €9.27M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 65 lines
Balance sheet
Code20242025
Assets
Total assets20/58€11.16M€13.91M▲
Fixed assets21/28€3.38M€5.12M▲
Intangible fixed assets21€693k€1.06M▲
Tangible fixed assets22/27€106k€76k▼
Plant, machinery and equipment23€106k€76k▼
Financial fixed assets28€2.59M€3.98M▲
Affiliated companies280/1€2.58M€3.98M▲
Amounts receivable281€2.58M€3.98M▲
Other financial fixed assets284/8€5k€5k=
Amounts receivable and cash guarantees285/8€5k€5k=
Current assets29/58€7.77M€8.79M▲
Stocks and contracts in progress3€170k€200k▲
Stocks30/36€170k€200k▲
Goods purchased for resale34€170k€200k▲
Amounts receivable within one year40/41€7.13M€7.70M▲
Trade receivables40€6.41M€6.76M▲
Other amounts receivable41€719k€945k▲
Cash at bank and in hand54/58€268k€568k▲
Deferred charges and accrued income490/1€203k€320k▲
Equity and liabilities
Total equity and liabilities10/49€11.16M€13.91M▲
Equity10/15€2.59M€1.74M▼
Contributions10/11€2.36M€2.36M=
Profit (loss) carried forward14€238k€-615k▼
Amounts payable17/49€8.56M€12.17M▲
Amounts payable within one year42/48€8.49M€12.08M▲
Current portion of amounts payable after more than one year42€700k€505k▼
Financial debts43€1.46M€1.26M▼
Credit institutions430/8€1.46M€1.26M▼
Trade debts44€5.27M€8.86M▲
Suppliers440/4€5.27M€8.86M▲
Taxes, remuneration and social security45€1.06M€1.45M▲
Taxes450/3-€308k
Remuneration and social security454/9€1.06M€1.14M▲
Accrued charges and deferred income492/3€77k€91k▲
Income statement
Code20242025
Operating income70/76A€24.06M€27.18M▲
Turnover70€22.80M€25.29M▲
Other operating income74€1.26M€1.88M▲
Non-recurring operating income76A-€3k
Operating charges60/66A€24.47M€27.84M▲
Goods for resale, raw materials and consumables60€9.15M€11.02M▲
Purchases600/8€9.11M€11.05M▲
Change in stocks: decrease (increase)609€46k€-30k▼
Services and other goods61€5.75M€6.27M▲
Remuneration, social security and pensions62€9.27M€10.07M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€121k€269k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-13k-
Other operating charges640/8€186k€206k▲
Non-recurring operating charges66A-€1k
Operating profit (loss)9901€-412k€-660k▼
Financial income75/76B€43k€93k▲
Recurring financial income75€43k€93k▲
Income from financial fixed assets750€43k€92k▲
Other financial income752/9-€962
Financial charges65/66B€134k€258k▲
Recurring financial charges65€134k€258k▲
Debt charges650€134k€256k▲
Other financial charges652/9-€2k
Profit (loss) for the period before taxes9903€-503k€-825k▼
Income taxes67/77€52k€28k▼
Taxes670/3€52k€28k▼
Profit (loss) for the period9904€-555k€-853k▼
Profit (loss) for the period to be appropriated9905€-555k€-853k▼
Appropriation of the result
Profit (loss) to be appropriated9906€238k€-615k▼
Profit (loss) brought forward from the previous period14P€793k€238k▼
Social balance
Average headcount (FTE)9087141.7144.8▲
The notes to these accounts (50 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-853k
Net result drops to €-853k, the lowest in the series.
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 54 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2021net €590k ▲655%
Operating result €1.04M, net result €590k, both a record.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Vilvoorde · 1 establishment unit since 2020
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.
Radiatorenstraat 411800 VilvoordeGround area
6,812 m²
Building footprint
6,288 m²
Volume, LiDAR
56,607 m³
Parcel 23643E0099/00F002, Flanders · tallest building 13.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Radiatorenstraat 41, 1800 Vilvoorde
since 20202.311.524.054
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643E0099/00F002 | Flanders | 6,812 m² | 1 · 6,288 m² | 13.1 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 to 2025 · 7 entries · 12,070 EUR awarded · 11,640 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,298 EUR | 868 EUR |
| 2024 | 2 | 3,313 EUR | 3,313 EUR |
| 2023 | 2 | 4,620 EUR | 4,620 EUR |
| 2022 | 1 | 2,839 EUR | 2,839 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
894500Z4W3JP6U98R109
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Of 29,996 companies in sector 62200 we hold annual accounts for 18,393. 5,561 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
43211General electrical installation work
47400Retail sale of information and communication equipment
82200Office administrative, office support and other business support activities
95100Repair and maintenance of computers and communication equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.