CEPE
ActiveSummary
CEPE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €125k and a net result of €14k. Equity is growing by ~3.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▲+8
Solvency84▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.14 against 0.04 in 2024; short-term debt: 40.9% and cash: 1.7% of total assets), and 40.9% 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 · 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
59.1%
Return on assets
6.6%
Age of the figures
9 mo
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 · 10 filingsDeviation from the deadline
2025
28 d late
2024
11 d late
2023
1 d early
2022
6 d early
2021
3 d late
2020
1 d early
2019
2 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
Equity
€125k▲ 12.5%
2024 · €111k
2018: €101k
2019: €100k▼ -1.2% vs 2018
2020: €86k▼ -14.1% vs 2019
2021: €77k▼ -10.7% vs 2020lowest in 8 years
2022: €83k▲ +7.7% vs 2021
2023: €104k▲ +26.1% vs 2022
2024: €111k▲ +6.4% vs 2023
2025: €125k▲ +12.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€211k▲ 4.4%
2024 · €202k
2018: €247khighest in 8 years
2019: €226k▼ -8.6% vs 2018
2020: €224k▼ -0.9% vs 2019
2021: €210k▼ -6.0% vs 2020
2022: €225k▲ +6.9% vs 2021
2023: €211k▼ -6.4% vs 2022
2024: €202k▼ -4.0% vs 2023lowest in 8 years
2025: €211k▲ +4.4% vs 2024
2018 → 2025
Net result
€14k▲ 108%
2024 · €7k
2018: €-19klowest in 8 years
2019: €-1k▲ +93.5% vs 2018
2020: €-14k▼ -1017% vs 2019
2021: €-9k▲ +34.9% vs 2020
2022: €6k▲ +164% vs 2021
2023: €22k▲ +266% vs 2022highest in 8 years
2024: €7k▼ -69.1% vs 2023
2025: €14k▲ +108% vs 2024
2018 → 2025
Working capital
€-74k▲ 15.8%
2024 · €-88k
2018: €11khighest in 8 years
2019: €-15k▼ -235% vs 2018
2020: €-29k▼ -93.5% vs 2019
2021: €-38k▼ -31.4% vs 2020
2022: €-37k▲ +3.0% vs 2021
2023: €-95k▼ -154% vs 2022lowest in 8 years
2024: €-88k▲ +7.0% vs 2023
2025: €-74k▲ +15.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€77k-€83k▲ 7.7%€104k▲ 26.1%€111k▲ 6.4%€125k▲ 12.5%
2021: €77klowest in 5 years
2022: €83k▲ +7.7% vs 2021
2023: €104k▲ +26.1% vs 2022
2024: €111k▲ +6.4% vs 2023
2025: €125k▲ +12.5% vs 2024highest in 5 years
Operating result€-8k-€6k€22k▲ 238%€7k▼ 69.1%€11k▲ 69.9%
2021: €-8klowest in 5 years
2022: €6k▲ +177% vs 2021
2023: €22k▲ +238% vs 2022highest in 5 years
2024: €7k▼ -69.1% vs 2023
2025: €11k▲ +69.9% vs 2024
Net result€-9k-€6k€22k▲ 266%€7k▼ 69.1%€14k▲ 108%
2021: €-9klowest in 5 years
2022: €6k▲ +164% vs 2021
2023: €22k▲ +266% vs 2022highest in 5 years
2024: €7k▼ -69.1% vs 2023
2025: €14k▲ +108% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 70% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €211k
Fixed assets
€199k =
Current assets
€12k ▲ 270%
Equity and liabilities €211k
Equity
€125k ▲ 12.5%
Debt
€86k ▼ 5.5%
Debt's share of the balance-sheet total falls from 45.1% to 40.9%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
0.14▲
2024 · 0.04
Debt to equity
0.69▼
2024 · 0.82
ROE
11.1%▲
2024 · 6.0%
ROA
6.6%▲
2024 · 3.3%
Debt ≤ 1 year
€86k▼
2024 · €91k
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 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€202k€211k▲
Fixed assets21/28€199k€199k=
Tangible fixed assets22/27€185k€185k=
Land and buildings22€185k€185k=
Financial fixed assets28€14k€14k=
Current assets29/58€3k€12k▲
Amounts receivable within one year40/41€3k€0▼
Other amounts receivable41€3k€0▼
Cash at bank and in hand54/58€426€4k▲
Deferred charges and accrued income490/1€0€9k▲
Equity and liabilities
Total equity and liabilities10/49€202k€211k▲
Equity10/15€111k€125k▲
Contributions10/11€242k€242k=
Reserves13€23k€23k=
Non-distributable reserves130/1€23k€23k=
Reserves not available under the articles1311€23k€23k=
Profit (loss) carried forward14€-154k€-140k▲
Amounts payable17/49€91k€86k▼
Amounts payable within one year42/48€91k€86k▼
Other amounts payable47/48€91k€86k▼
Income statement
Code20242025
Other operating charges640/8€4k€4k▼
Gross operating margin9900€11k€16k▲
Operating profit (loss)9901€7k€11k▲
Financial income75/76B-€3k
Recurring financial income75-€3k
Financial charges65/66B€51€54▲
Recurring financial charges65€51€54▲
Profit (loss) for the period before taxes9903€7k€14k▲
Profit (loss) for the period9904€7k€14k▲
Profit (loss) for the period to be appropriated9905€7k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-154k€-140k▲
Profit (loss) brought forward from the previous period14P€-161k€-154k▲
The notes to these accounts (8 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 | - | €2k | €0 | - | - | - |
| Other operating charges640/8 | €3k | €3k | €4k | €4k | €4k | ▼ 5.7% |
| Gross operating margin9900 | €-5k | €9k | €25k | €11k | €16k | ▲ 39.6% |
| Operating profit (loss)9901 | €-8k | €6k | €22k | €7k | €11k | ▲ 69.9% |
| Financial income75/76B | - | - | - | - | €3k | - |
| Recurring financial income75 | - | - | - | - | €3k | - |
| Financial charges65/66B | €793 | €543 | €168 | €51 | €54 | ▲ 5.9% |
| Recurring financial charges65 | €793 | €543 | €168 | €51 | €54 | ▲ 5.9% |
| Profit (loss) for the period before taxes9903 | €-9k | €6k | €22k | €7k | €14k | ▲ 108% |
| Profit (loss) for the period9904 | €-9k | €6k | €22k | €7k | €14k | ▲ 108% |
| Profit (loss) for the period to be appropriated9905 | €-9k | €6k | €22k | €7k | €14k | ▲ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €210k | €225k | €211k | €202k | €211k | ▲ 4.4% |
| Fixed assets21/28 | €194k | €199k | €199k | €199k | €199k | = |
| Tangible fixed assets22/27 | €180k | €185k | €185k | €185k | €185k | = |
| Land and buildings22 | €180k | €185k | €185k | €185k | €185k | = |
| Financial fixed assets28 | €14k | €14k | €14k | €14k | €14k | = |
| Current assets29/58 | €16k | €26k | €12k | €3k | €12k | ▲ 270% |
| Amounts receivable within one year40/41 | €10k | €11k | €6k | €3k | €0 | ▼ 100% |
| Trade receivables40 | €2k | €5k | €0 | - | - | - |
| Other amounts receivable41 | €8k | €6k | €6k | €3k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €2k | €15k | €2k | €426 | €4k | ▲ 753% |
| Deferred charges and accrued income490/1 | €4k | €0 | €4k | €0 | €9k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €210k | €225k | €211k | €202k | €211k | ▲ 4.4% |
| Equity10/15 | €77k | €83k | €104k | €111k | €125k | ▲ 12.5% |
| Contributions10/11 | €242k | €242k | €242k | €242k | €242k | = |
| Reserves13 | €23k | €23k | €23k | €23k | €23k | = |
| Non-distributable reserves130/1 | €23k | €23k | €23k | €23k | €23k | = |
| Reserves not available under the articles1311 | €23k | €23k | €23k | €23k | €23k | = |
| Distributable reserves133 | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | €-188k | €-182k | €-161k | €-154k | €-140k | ▲ 9.0% |
| Amounts payable17/49 | €134k | €142k | €106k | €91k | €86k | ▼ 5.5% |
| Amounts payable after more than one year17 | €79k | €79k | €0 | - | - | - |
| Financial debts170/4 | €79k | €79k | €0 | - | - | - |
| Amounts payable within one year42/48 | €55k | €63k | €106k | €91k | €86k | ▼ 5.5% |
| Trade debts44 | €3k | €0 | - | - | - | - |
| Suppliers440/4 | €3k | €0 | - | - | - | - |
| Other amounts payable47/48 | €51k | €63k | €106k | €91k | €86k | ▼ 5.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-9k | €6k | €22k | €7k | €14k | ▲ 108% |
| Operating cash flow (approximation) | €-9k | €6k | €22k | €7k | €14k | ▲ 108% |
| Investment in fixed assets (approximation) | - | €-5k | €0 | €0 | €0 | - |
| Change in cash | - | €13k | €-13k | €-2k | €3k | ▲ 277% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €22k ▲266%
Operating result €22k, net result €22k, both a record.
30-09
Financial
Equity above €100kEq €104k ▲26.1%
2 profitable years in a row build equity to €104k.
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €6k
Net result €6k after 4 loss-making years.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Vorst · 1 establishment unit since 1993
Ground area
2,234 m²
Building footprint
354 m²
Volume, LiDAR
2,944 m³
2 parcels, Brussels, Flanders · tallest building 18.1 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
S.P.I. GROUP
since 19932.064.875.028
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23072D0348/00T000 | Flanders | 2,047 m² | 1 · 174 m² | 11.6 m · 2 fl. |
| 21383B0011/00G003 | Brussels | 187 m² | 1 · 180 m² | 18.1 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded15-12-1993
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.