CEPAL
ActiveSummary
CEPAL has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €39,157 and a net result of €22,134. Equity is growing by ~14.3% per year across the filed fiscal years. Its solvency ranks better than 35% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability98▲+30
Solvency66▼-34
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 1.68 against 8.79 in 2023; short-term debt: 59.1% and cash: 13.9% of total assets), but 59.1% of the assets are financed with debt.
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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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
40.9%
Return on assets
23.1%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-08-2025, 22 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
22 d late
2023
19 d late
2022
45 d early
2021
3 d late
2020
27 d late
2019
63 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 15 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€39,157▼ 31.3%
2023 · €57,023
Total assets
€95,653▲ 48.9%
2023 · €64,227
Net result
€22,134▲ 205%
2023 · €7,268
Working capital
€38,684▼ 31.1%
2023 · €56,123
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€11,911▼ 61.1%€12,369▲ 3.8%€571▼ 95.4%€9,497▲ 1,563%€27,610▲ 191%
Net result€11,204▼ 55.0%€10,095▼ 9.9%€1,582▼ 84.3%€7,268▲ 359%€22,134▲ 205%
Equity€38,078▲ 41.7%€48,173▲ 26.5%€49,755▲ 3.3%€57,023▲ 14.6%€39,157▼ 31.3%
Total assets€49,714▲ 35.3%€57,084▲ 14.8%€57,862▲ 1.4%€64,227▲ 11.0%€95,653▲ 48.9%
Debt€11,636▲ 18.0%€8,911▼ 23.4%€8,107▼ 9.0%€7,204▼ 11.1%€56,496▲ 684%
Working capital€38,078▲ 41.7%€48,173▲ 26.5%€49,173▲ 2.1%€56,123▲ 14.1%€38,684▼ 31.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 191% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €95,653
Fixed assets
€473 ▼ 47.4%
Current assets
€95,180 ▲ 50.3%
Equity and liabilities €95,653
Equity
€39,157 ▼ 31.3%
Debt
€56,496 ▲ 684%
Debt's share of the balance-sheet total rises from 11.2% to 59.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€28,037▲
2023 · €9,798
Cash flow
€22,561▲
2023 · €7,569
Current ratio
1.68▼
2023 · 8.79
Debt to equity
1.44▲
2023 · 0.13
ROE
56.5%▲
2023 · 12.7%
ROA
23.1%▲
2023 · 11.3%
Interest coverage
19.46▲
2023 · 4.24
Debt ≤ 1 year
€56,496▲
2023 · €7,204
Income taxes
€6,524▲
2023 · €2,676
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €79 | €301 | €427 | ▲ 41.9% |
| Other operating charges640/8 | - | €348 | €348 | €394 | €387 | ▼ 1.8% |
| Gross operating margin9900 | €12,260 | €12,717 | €998 | €10,192 | €28,424 | ▲ 179% |
| Operating profit (loss)9901 | €11,911 | €12,369 | €571 | €9,497 | €27,610 | ▲ 191% |
| Financial income75/76B | - | €2,624 | €3,614 | €2,760 | €2,489 | ▼ 9.8% |
| Recurring financial income75 | €2,937 | €2,624 | €3,614 | €2,760 | €2,489 | ▼ 9.8% |
| Financial charges65/66B | - | €1,975 | €2,233 | €2,313 | €1,441 | ▼ 37.7% |
| Recurring financial charges65 | €1,703 | €1,975 | €2,233 | €2,313 | €1,441 | ▼ 37.7% |
| Profit (loss) for the period before taxes9903 | €13,145 | €13,018 | €1,952 | €9,944 | €28,658 | ▲ 188% |
| Income taxes67/77 | €1,941 | €2,923 | €370 | €2,676 | €6,524 | ▲ 144% |
| Profit (loss) for the period9904 | €11,204 | €10,095 | €1,582 | €7,268 | €22,134 | ▲ 205% |
| Profit (loss) for the period to be appropriated9905 | €11,204 | €10,095 | €1,582 | €7,268 | €22,134 | ▲ 205% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €49,714 | €57,084 | €57,862 | €64,227 | €95,653 | ▲ 48.9% |
| Fixed assets21/28 | - | - | €582 | €900 | €473 | ▼ 47.4% |
| Tangible fixed assets22/27 | - | - | €582 | €900 | €473 | ▼ 47.4% |
| Furniture and vehicles24 | - | - | €582 | €900 | €473 | ▼ 47.4% |
| Current assets29/58 | €49,714 | €57,084 | €57,280 | €63,327 | €95,180 | ▲ 50.3% |
| Amounts receivable within one year40/41 | €40,546 | €53,581 | €53,776 | €61,198 | €81,837 | ▲ 33.7% |
| Trade receivables40 | - | €5,328 | €250 | €12,492 | €26,028 | ▲ 108% |
| Other amounts receivable41 | - | €48,253 | €53,526 | €48,706 | €55,809 | ▲ 14.6% |
| Cash at bank and in hand54/58 | €9,168 | €3,503 | €3,504 | €2,129 | €13,343 | ▲ 527% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €49,714 | €57,084 | €57,862 | €64,227 | €95,653 | ▲ 48.9% |
| Equity10/15 | €38,078 | €48,173 | €49,755 | €57,023 | €39,157 | ▼ 31.3% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Outside capital11 | - | €2,000 | - | - | - | - |
| Other1109/19 | - | €2,000 | - | - | - | - |
| Reserves13 | - | - | €47,755 | €55,023 | €37,157 | ▼ 32.5% |
| Distributable reserves133 | - | - | €47,755 | €55,023 | €37,157 | ▼ 32.5% |
| Profit (loss) carried forward14 | €36,078 | €46,173 | - | - | - | - |
| Amounts payable17/49 | €11,636 | €8,911 | €8,107 | €7,204 | €56,496 | ▲ 684% |
| Amounts payable within one year42/48 | €11,636 | €8,911 | €8,107 | €7,204 | €56,496 | ▲ 684% |
| Current portion of amounts payable after more than one year42 | - | - | €303 | - | - | - |
| Financial debts43 | - | €155 | €3,864 | - | - | - |
| Credit institutions430/8 | - | €155 | €3,864 | - | - | - |
| Trade debts44 | €73 | €1,007 | €351 | €96 | €1,759 | ▲ 1,732% |
| Suppliers440/4 | - | €1,007 | €351 | €96 | €1,759 | ▲ 1,732% |
| Taxes, remuneration and social security45 | - | €7,749 | €3,589 | €7,108 | €20,737 | ▲ 192% |
| Taxes450/3 | - | €5,969 | €3,589 | €5,327 | €18,957 | ▲ 256% |
| Remuneration and social security454/9 | - | €1,780 | €0 | €1,781 | €1,780 | ▼ 0.1% |
| Other amounts payable47/48 | - | - | - | - | €34,000 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,204 | €10,095 | €1,582 | €7,268 | €22,134 | ▲ 205% |
| + Depreciation and write-downs630 | - | - | €79 | €301 | €427 | ▲ 41.9% |
| Operating cash flow (approximation) | €11,204 | €10,095 | €1,661 | €7,569 | €22,561 | ▲ 198% |
| Investment in fixed assets (approximation) | - | - | - | -€619 | €0 | ▲ 100% |
| Change in cash | - | -€5,665 | €1 | -€1,375 | €11,214 | ▲ 916% |
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
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €1,582 ▼84.3%
Net result drops to €1,582, the lowest in the series; recovery starts the following year.
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Saint-Nicolas · 1 establishment unit since 2019
Ground area
584 m²
Building footprint
38 m²
Volume, LiDAR
186 m³
Parcel 62093B0303/00P003, Wallonia · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CEPAL
since 20192.290.681.130
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62093B0303/00P003 | Wallonia | 583 m² | 1 · 38 m² | 8.2 m · 2 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.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 36,551 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-06-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Contact
E-mail
raphaelchapelle@hotmail.frSaint-Nicolas
Phone
0477/250.401Saint-Nicolas
E-invoicing
Reachable via Peppol
Peppol ID
0208:0728612332
Also
9925:BE0728612332
Registered
18-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.