CEOL
ActiveSummary
CEOL has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.07M and a net result of €-9k. Equity is growing by ~6.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-5
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85k at 30 days acceptable
Liquidity ample (current ratio 80.74 against 58.44 in 2024; short-term debt: 0.8% and cash: 54.8% of total assets), and 0.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
99.2%
Return on assets
-0.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-05-2026, 79 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
79 d early
2024
69 d early
2023
71 d early
2022
68 d early
2021
75 d early
2020
60 d early
2019
59 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-9k
2024 · €35k
2018: €100k
2019: €22k▼ -77.5% vs 2018
2020: €52k▲ +133% vs 2019
2021: €93k▲ +77.4% vs 2020
2022: €193k▲ +107% vs 2021highest in 8 years
2023: €28k▼ -85.7% vs 2022
2024: €35k▲ +25.1% vs 2023
2025: €-9k▼ -125% vs 2024lowest in 8 years
2018 → 2025
Working capital
€646k▲ 2.5%
2024 · €630k
2018: €437k
2019: €481k▲ +10.2% vs 2018
2020: €-18k▼ -104% vs 2019lowest in 8 years
2021: €297k▲ +1779% vs 2020
2022: €564k▲ +90.3% vs 2021
2023: €599k▲ +6.2% vs 2022
2024: €630k▲ +5.1% vs 2023
2025: €646k▲ +2.5% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€919k-€1.01M▲ 10.1%€1.04M▲ 2.7%€1.07M▲ 3.3%€1.07M▼ 0.8%
2021: €919klowest in 5 years
2022: €1.01M▲ +10.1% vs 2021
2023: €1.04M▲ +2.7% vs 2022
2024: €1.07M▲ +3.3% vs 2023highest in 5 years
2025: €1.07M▼ -0.8% vs 2024
Operating result€117k-€253k▲ 117%€31k▼ 87.8%€45k▲ 46.9%€-13k
2021: €117k
2022: €253k▲ +117% vs 2021highest in 5 years
2023: €31k▼ -87.8% vs 2022
2024: €45k▲ +46.9% vs 2023
2025: €-13k▼ -128% vs 2024lowest in 5 years
Net result€93k-€193k▲ 107%€28k▼ 85.7%€35k▲ 25.1%€-9k
2021: €93k
2022: €193k▲ +107% vs 2021highest in 5 years
2023: €28k▼ -85.7% vs 2022
2024: €35k▲ +25.1% vs 2023
2025: €-9k▼ -125% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €13k after €45k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.07M
Fixed assets
€419k ▼ 6.3%
Current assets
€654k ▲ 2.0%
Equity and liabilities €1.07M
Equity
€1.07M ▼ 0.8%
Debt
€8k ▼ 46.0%
Debt's share of the balance-sheet total falls from 1.4% to 0.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€50k▼
2024 · €108k
Cash flow
€54k▼
2024 · €97k
Current ratio
80.74▲
2024 · 58.44
Debt to equity
0.01▼
2024 · 0.01
ROE
-0.8%▼
2024 · 3.2%
ROA
-0.8%▼
2024 · 3.2%
Interest coverage
20.50▼
2024 · 149.11
Debt ≤ 1 year
€8k▼
2024 · €11k
Income taxes
€397▼
2024 · €15k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.09M€1.07M▼
Fixed assets21/28€448k€419k▼
Tangible fixed assets22/27€448k€419k▼
Land and buildings22€421k€403k▼
Furniture and vehicles24€26k€16k▼
Current assets29/58€641k€654k▲
Amounts receivable within one year40/41-€8k
Other amounts receivable41-€8k
Current investments50/53€358k€59k▼
Cash at bank and in hand54/58€283k€588k▲
Deferred charges and accrued income490/1€262-
Equity and liabilities
Total equity and liabilities10/49€1.09M€1.07M▼
Equity10/15€1.07M€1.07M▼
Contributions10/11€90k€90k=
Capital10€90k€90k=
Issued capital100€90k€90k=
Reserves13€71k€71k=
Non-distributable reserves130/1€9k€9k=
Legal reserve130€9k€9k=
Distributable reserves133€62k€62k=
Profit (loss) carried forward14€913k€904k▼
Amounts payable17/49€15k€8k▼
Amounts payable after more than one year17€4k-
Financial debts170/4€4k-
Amounts payable within one year42/48€11k€8k▼
Current portion of amounts payable after more than one year42€7k€4k▼
Taxes, remuneration and social security45€4k€4k=
Taxes450/3€1k€1k=
Remuneration and social security454/9€3k€3k=
Income statement
Code20242025
Non-recurring operating income76A€18k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€63k=
Other operating charges640/8€20k€20k▲
Gross operating margin9900€128k€70k▼
Operating profit (loss)9901€45k€-13k▼
Financial income75/76B€5k€7k▲
Recurring financial income75€5k€7k▲
Financial charges65/66B€726€2k▲
Recurring financial charges65€726€2k▲
Profit (loss) for the period before taxes9903€49k€-8k▼
Income taxes67/77€15k€397▼
Profit (loss) for the period9904€35k€-9k▼
Profit (loss) for the period to be appropriated9905€35k€-9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€947k€904k▼
Profit (loss) brought forward from the previous period14P€913k€913k=
Transfer to equity691/2€35k-
To other reserves6921€35k-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €73k | €405k | - | €18k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36k | €44k | €60k | €63k | €63k | = |
| Other operating charges640/8 | €18k | €17k | €18k | €20k | €20k | ▲ 1.6% |
| Non-recurring operating charges66A | - | €119k | - | - | - | - |
| Gross operating margin9900 | €170k | €433k | €109k | €128k | €70k | ▼ 45.1% |
| Operating profit (loss)9901 | €117k | €253k | €31k | €45k | €-13k | ▼ 128% |
| Financial income75/76B | - | - | €9k | €5k | €7k | ▲ 47.5% |
| Recurring financial income75 | - | - | €9k | €5k | €7k | ▲ 47.5% |
| Financial charges65/66B | €510 | €563 | €848 | €726 | €2k | ▲ 237% |
| Recurring financial charges65 | €510 | €563 | €848 | €726 | €2k | ▲ 237% |
| Profit (loss) for the period before taxes9903 | €116k | €253k | €39k | €49k | €-8k | ▼ 117% |
| Income taxes67/77 | €23k | €60k | €11k | €15k | €397 | ▼ 97.3% |
| Profit (loss) for the period9904 | €93k | €193k | €28k | €35k | €-9k | ▼ 125% |
| Profit (loss) for the period to be appropriated9905 | €93k | €193k | €28k | €35k | €-9k | ▼ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.18M | €1.19M | €1.06M | €1.09M | €1.07M | ▼ 1.4% |
| Fixed assets21/28 | €622k | €465k | €451k | €448k | €419k | ▼ 6.3% |
| Tangible fixed assets22/27 | €622k | €465k | €451k | €448k | €419k | ▼ 6.3% |
| Land and buildings22 | €622k | €418k | €414k | €421k | €403k | ▼ 4.3% |
| Furniture and vehicles24 | - | €47k | €37k | €26k | €16k | ▼ 39.3% |
| Current assets29/58 | €554k | €729k | €611k | €641k | €654k | ▲ 2.0% |
| Amounts receivable within one year40/41 | €128k | - | - | - | €8k | - |
| Other amounts receivable41 | €128k | - | - | - | €8k | - |
| Current investments50/53 | €58k | €608k | €508k | €358k | €59k | ▼ 83.7% |
| Cash at bank and in hand54/58 | €363k | €114k | €103k | €283k | €588k | ▲ 108% |
| Deferred charges and accrued income490/1 | €5k | €7k | €679 | €262 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.18M | €1.19M | €1.06M | €1.09M | €1.07M | ▼ 1.4% |
| Equity10/15 | €919k | €1.01M | €1.04M | €1.07M | €1.07M | ▼ 0.8% |
| Contributions10/11 | €90k | €90k | €90k | €90k | €90k | = |
| Capital10 | €90k | €90k | €90k | €90k | €90k | = |
| Issued capital100 | €90k | €90k | €90k | €90k | €90k | = |
| Reserves13 | €9k | €9k | €37k | €71k | €71k | = |
| Non-distributable reserves130/1 | €9k | €9k | €9k | €9k | €9k | = |
| Legal reserve130 | €9k | €9k | €9k | €9k | €9k | = |
| Distributable reserves133 | - | - | €28k | €62k | €62k | = |
| Profit (loss) carried forward14 | €820k | €913k | €913k | €913k | €904k | ▼ 1.0% |
| Amounts payable17/49 | €257k | €182k | €23k | €15k | €8k | ▼ 46.0% |
| Amounts payable after more than one year17 | - | €18k | €11k | €4k | - | - |
| Financial debts170/4 | - | €18k | €11k | €4k | - | - |
| Amounts payable within one year42/48 | €257k | €165k | €12k | €11k | €8k | ▼ 26.2% |
| Current portion of amounts payable after more than one year42 | €5k | €7k | €7k | €7k | €4k | ▼ 41.7% |
| Trade debts44 | €5k | - | €220 | - | - | - |
| Suppliers440/4 | €5k | - | €220 | - | - | - |
| Taxes, remuneration and social security45 | €13k | €48k | €5k | €4k | €4k | = |
| Taxes450/3 | €10k | €45k | €2k | €1k | €1k | = |
| Remuneration and social security454/9 | €3k | €3k | €3k | €3k | €3k | = |
| Other amounts payable47/48 | €234k | €110k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €93k | €193k | €28k | €35k | €-9k | ▼ 125% |
| + Depreciation and write-downs630 | €36k | €44k | €60k | €63k | €63k | = |
| Operating cash flow (approximation) | €129k | €237k | €87k | €97k | €54k | ▼ 44.5% |
| Investment in fixed assets (approximation) | - | €113k | €-45k | €-60k | €-35k | ▲ 42.2% |
| Change in cash | - | €-249k | €-11k | €180k | €305k | ▲ 69.9% |
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
13-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series.
23-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 11current ratio 50.63
Current ratio from 4.43 to 50.63; short-term debt falls from €165k to €12k.
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €193k ▲107%
Operating result €253k, net result €193k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.43
Current ratio from 2.16 to 4.43; short-term debt falls from €257k to €165k.
31-12
Financial
Equity above €1MEq €1.01M ▲10.1%
5 profitable years in a row build equity to €1.01M.
17-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 2.16
Current ratio from 0.93 to 2.16.
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 20.90
Current ratio from 5.30 to 20.90; short-term debt falls from €102k to €24k.
31-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Elsene · 1 establishment unit since 1995
Ground area
107 m²
Building footprint
68 m²
Volume, LiDAR
980 m³
Parcel 21447B0305/00E029, Brussels · tallest building 17.1 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Maliestraat 77, 1050 Elsene
since 19952.071.590.297
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0305/00E029 | Brussels | 107 m² | 1 · 68 m² | 17.1 m · 5 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.
Identification & contact
Identification
Legal formPublic limited company
Founded22-03-1995
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.