CEPEGEM
ActiveSummary
CEPEGEM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (-€191,417) and a net result of -€38,625. Equity is shrinking by about 38% per year across the filed financial years. Its solvency ranks better than 5% of 9,701 sector peers (NACE 64, financial year 2025). The company has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
2025 annual accounts filed late (8 days) Filed on 8 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00106140.
Equity
-€191,417▼ 25.3%
2024 · -€152,792
Net result
-€38,625▲ 25.8%
2024 · -€52,045
Total assets
€545,102▲ 1.1%
2024 · €539,273
Solvency
-35.1%▼ 6.8pp
2024 · -28.3%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €27,071 in 2025 against €42,141 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.
Operating result-€27,071
2025
Net result-€38,625
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€545,102
2025
Equity-€191,417
2025
Debt€736,518
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€423,114
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)-7.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-35.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.31
2025
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).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€10,120--€2,771-€2,526▲ 8.9%-€15,600▼ 518%-€20,724▼ 32.8%-€42,141▼ 103%-€27,071▲ 35.8%
Net result-€8,739--€18,485below the sector's middle half▼ 112%-€16,507below the sector's middle half▲ 10.7%-€24,111below the sector's middle half▼ 46.1%-€27,530below the sector's middle half▼ 14.2%-€52,045below the sector's middle half▼ 89.0%-€38,625below the sector's middle half▲ 25.8%
Equity-€14,114--€32,598below the sector's middle half▼ 131%-€49,105below the sector's middle half▼ 50.6%-€73,217below the sector's middle half▼ 49.1%-€100,747below the sector's middle half▼ 37.6%-€152,792below the sector's middle half▼ 51.7%-€191,417below the sector's middle half▼ 25.3%
Total assets€488,916-€450,123within the sector's middle half▼ 7.9%€476,305within the sector's middle half▲ 5.8%€527,698within the sector's middle half▲ 10.8%€540,683within the sector's middle half▲ 2.5%€539,273within the sector's middle half▼ 0.3%€545,102within the sector's middle half▲ 1.1%
Debt€503,030-€482,721▼ 4.0%€525,410▲ 8.8%€600,915▲ 14.4%€641,430▲ 6.7%€692,065▲ 7.9%€736,518▲ 6.4%
Working capital-€200,284--€231,285below the sector's middle half▼ 15.5%-€254,423below the sector's middle half▼ 10.0%-€310,208below the sector's middle half▼ 21.9%-€333,387below the sector's middle half▼ 7.5%-€386,009below the sector's middle half▼ 15.8%-€423,114below the sector's middle half▼ 9.6%
Solvency-2.9%--7.2%below the sector's middle half▼ 4.4pp-10.3%below the sector's middle half▼ 3.1pp-13.9%below the sector's middle half▼ 3.6pp-18.6%below the sector's middle half▼ 4.8pp-28.3%below the sector's middle half▼ 9.7pp-35.1%below the sector's middle half▼ 6.8pp
Current ratio0.25-0.12below the sector's middle half▼ 0.130.21below the sector's middle half▲ 0.090.25below the sector's middle half▲ 0.040.30below the sector's middle half▲ 0.040.29below the sector's middle half=0.31below the sector's middle half▲ 0.01
Return on assets (ROA)-1.8%--4.1%below the sector's middle half▼ 2.3pp-3.5%below the sector's middle half▲ 0.6pp-4.6%below the sector's middle half▼ 1.1pp-5.1%below the sector's middle half▼ 0.5pp-9.7%below the sector's middle half▼ 4.6pp-7.1%below the sector's middle half▲ 2.6pp
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.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €545,102
Fixed assets
€356,942 ▼ 5.6%
Current assets
€188,160 ▲ 16.8%
Equity and liabilities
Equity-€191,417
Debt€736,518
Equity is negative: debt (€736,518) exceeds the balance-sheet total (€545,102).
Key figures and ratios
Debt ≤ 1 year
€611,273▲
2024 · €547,067
Debt > 1 year
€122,045▼
2024 · €142,863
Income taxes
€471▲
2024 · €402
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,350 | €14,841 | €16,412 | €21,326 | €22,856 | €22,324 | €21,932 | ▼ 1.8% |
| Other operating charges640/8 | - | - | €3,006 | €4,462 | €3,136 | €3,319 | €3,530 | ▲ 6.4% |
| Gross operating margin9900 | €27,201 | €14,326 | €16,892 | €10,188 | €5,268 | -€16,497 | -€1,609 | ▲ 90.2% |
| Operating profit (loss)9901 | €10,120 | -€2,771 | -€2,526 | -€15,600 | -€20,724 | -€42,141 | -€27,071 | ▲ 35.8% |
| Financial income75/76B | - | - | €2,090 | €5,195 | €6,451 | €2,351 | €50 | ▼ 97.9% |
| Recurring financial income75 | €0 | €1,168 | €2,090 | €5,195 | €6,451 | €2,351 | €50 | ▼ 97.9% |
| Financial charges65/66B | - | - | €15,807 | €13,706 | €12,436 | €11,854 | €11,133 | ▼ 6.1% |
| Recurring financial charges65 | €18,602 | €16,566 | €15,807 | €13,706 | €12,436 | €11,854 | €11,133 | ▼ 6.1% |
| Profit (loss) for the period before taxes9903 | -€8,483 | -€18,128 | -€16,243 | -€24,111 | -€26,709 | -€51,643 | -€38,154 | ▲ 26.1% |
| Income taxes67/77 | €256 | €356 | €264 | - | €821 | €402 | €471 | ▲ 17.2% |
| Profit (loss) for the period9904 | -€8,739 | -€18,485 | -€16,507 | -€24,111 | -€27,530 | -€52,045 | -€38,625 | ▲ 25.8% |
| Profit (loss) for the period to be appropriated9905 | -€8,739 | -€18,485 | -€16,507 | -€24,111 | -€27,530 | -€52,045 | -€38,625 | ▲ 25.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €488,916 | €450,123 | €476,305 | €527,698 | €540,683 | €539,273 | €545,102 | ▲ 1.1% |
| Fixed assets21/28 | €421,360 | €417,681 | €407,998 | €421,535 | €399,554 | €378,215 | €356,942 | ▼ 5.6% |
| Tangible fixed assets22/27 | €403,507 | €399,828 | €390,145 | €403,682 | €381,701 | €360,362 | €339,089 | ▼ 5.9% |
| Land and buildings22 | - | - | €383,840 | €368,819 | €353,817 | €338,867 | €324,764 | ▼ 4.2% |
| Plant, machinery and equipment23 | - | - | €892 | €654 | €416 | €178 | - | - |
| Furniture and vehicles24 | - | - | €2,945 | €31,282 | €24,465 | €18,354 | €11,400 | ▼ 37.9% |
| Other tangible fixed assets26 | - | - | €2,469 | €2,928 | €3,003 | €2,964 | €2,925 | ▼ 1.3% |
| Financial fixed assets28 | €17,853 | €17,853 | €17,853 | €17,853 | €17,853 | €17,853 | €17,853 | = |
| Current assets29/58 | €67,556 | €32,442 | €68,307 | €106,163 | €141,129 | €161,058 | €188,160 | ▲ 16.8% |
| Stocks and contracts in progress3 | €4,646 | €3,803 | €3,803 | €3,803 | €3,803 | €3,803 | €3,803 | = |
| Stocks30/36 | - | - | €3,803 | €3,803 | €3,803 | €3,803 | €3,803 | = |
| Amounts receivable within one year40/41 | €62,040 | €28,378 | €62,753 | €101,124 | €136,232 | €156,281 | €184,357 | ▲ 18.0% |
| Trade receivables40 | - | - | €6,196 | €4,960 | €5,284 | €3,232 | €3,850 | ▲ 19.1% |
| Other amounts receivable41 | - | - | €56,557 | €96,164 | €130,948 | €153,049 | €180,506 | ▲ 17.9% |
| Cash at bank and in hand54/58 | €33 | - | - | - | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | €1,751 | €1,237 | €1,094 | €974 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €488,916 | €450,123 | €476,305 | €527,698 | €540,683 | €539,273 | €545,102 | ▲ 1.1% |
| Equity10/15 | -€14,114 | -€32,598 | -€49,105 | -€73,217 | -€100,747 | -€152,792 | -€191,417 | ▼ 25.3% |
| Contributions10/11 | €58,600 | - | €58,600 | €58,600 | €58,600 | €58,600 | €58,600 | = |
| Reserves13 | €2,372 | €2,372 | €2,372 | €2,372 | €2,372 | €2,372 | €2,372 | = |
| Non-distributable reserves130/1 | - | - | €2,372 | €2,372 | €2,372 | - | - | - |
| Reserves not available under the articles1311 | - | - | €2,372 | €2,372 | €2,372 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €2,372 | €2,372 | = |
| Profit (loss) carried forward14 | -€75,086 | -€93,570 | -€110,077 | -€134,189 | -€161,719 | -€213,764 | -€252,389 | ▼ 18.1% |
| Amounts payable17/49 | €503,030 | €482,721 | €525,410 | €600,915 | €641,430 | €692,065 | €736,518 | ▲ 6.4% |
| Amounts payable after more than one year17 | €231,791 | €216,316 | €198,501 | €181,026 | €164,087 | €142,863 | €122,045 | ▼ 14.6% |
| Financial debts170/4 | - | - | €198,501 | €181,026 | €164,087 | €142,863 | €122,045 | ▼ 14.6% |
| Amounts payable within one year42/48 | €267,840 | €263,727 | €322,730 | €416,371 | €474,516 | €547,067 | €611,273 | ▲ 11.7% |
| Current portion of amounts payable after more than one year42 | - | - | €17,809 | €18,879 | €18,429 | €21,224 | €22,499 | ▲ 6.0% |
| Financial debts43 | - | - | €12,018 | €5,478 | €8,953 | €8,473 | €8,264 | ▼ 2.5% |
| Credit institutions430/8 | - | - | €12,018 | €5,478 | €8,953 | €8,473 | €8,264 | ▼ 2.5% |
| Trade debts44 | €14,342 | €8,636 | €6,192 | €4,689 | €5,007 | €1,933 | €3,948 | ▲ 104% |
| Suppliers440/4 | - | - | €6,192 | €4,689 | €5,007 | €1,933 | €3,948 | ▲ 104% |
| Taxes, remuneration and social security45 | - | - | €2,783 | €229 | €2,435 | €1,461 | €1,806 | ▲ 23.6% |
| Taxes450/3 | - | - | €2,783 | €229 | €2,435 | €1,461 | €1,806 | ▲ 23.6% |
| Other amounts payable47/48 | - | - | €283,928 | €387,096 | €439,692 | €513,976 | €574,756 | ▲ 11.8% |
| Accrued charges and deferred income492/3 | - | - | €4,179 | €3,517 | €2,828 | €2,135 | €3,200 | ▲ 49.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,739 | -€18,485 | -€16,507 | -€24,111 | -€27,530 | -€52,045 | -€38,625 | ▲ 25.8% |
| + Depreciation and write-downs630 | €14,350 | €14,841 | €16,412 | €21,326 | €22,856 | €22,324 | €21,932 | ▼ 1.8% |
| Operating cash flow (approximation) | €5,611 | -€3,644 | -€95 | -€2,785 | -€4,674 | -€29,721 | -€16,693 | ▲ 43.8% |
| Investment in fixed assets (approximation) | - | -€11,163 | -€6,728 | -€34,864 | -€875 | -€985 | -€659 | ▲ 33.1% |
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 28 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | micro format | 08-05-2026 | 2026-00106140 |
| 30-09-2024 | micro format | 14-05-2025 | 2025-00094002 |
| 30-09-2023 | micro format | 08-05-2024 | 2024-00086916 |
| 30-09-2022 | micro format | 27-04-2023 | 2023-00072649 |
| 30-09-2021 | micro format | 09-05-2022 | 2022-20027141 |
| 30-09-2020 | micro format | 29-04-2021 | 2021-12300083 |
| 30-09-2019 | micro format | 19-05-2020 | 2020-12700077 |
| 30-09-2018 | micro format | 16-04-2019 | 2019-10200244 |
| 30-09-2017 | micro format | 11-05-2018 | 2018-12600105 |
| 30-09-2015 | full format | 30-05-2016 | 2016-13900512 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 24,460 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,967. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.