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 9,737 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.
Overview
Activity
Activities of holding companies
NACE 64210
1 site
Size
€545,102total assets 2025
- Equity
- -€191,417
- Loss
- -€38,625
Turnover not published (micro format)
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Structure
- Holdings
- 1
2025 accounts filed 8 days late1 of 3 deeds summarised
Signalsraises riskWeak solvency vs sector2025 accounts filed 8 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Two signals.
raises risk
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 9737 sector peers (2025).
NBB · sector comparisonPosition among 9737 sector peers
Solvency
better than 5%
← weakest
strongest →
raises risk · 2025 accounts filed 8 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-05-2026, 8 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
8 days late
2024
14 days late
2023
8 days late
2022
3 days early
2021
9 days late
2020
1 day early
2019
19 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days after the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 9 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end30-10-2026 today30-04-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Weakest financial yearnet -€52,045
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 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,124. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
No directors read yet: 1 of 3 Gazette acts processed. See the directors and other office holders in the KBO →
Owners and capital
Capital and shareholders
Capital over the years
- 27-02-2024 Capital stated in the deed · 750 shares
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
17.5%
According to the annual accounts to 30-09-2025 of CEPEGEM and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
No directors read yet: 1 of 3 Gazette acts processed.
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
08-05
NBB filing
Annual accounts filed
financial year 2025 · micro format · 8 days late
2025
14-05
NBB filing
Annual accounts filed
financial year 2024 · micro format · 14 days late
2024
30-09
Financial
Weakest financial yearnet -€52,045
Net result drops to -€52,045, the lowest in the series; recovery starts the following year.
08-05
NBB filing
Annual accounts filed
financial year 2023 · micro format · 8 days late
27-02
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsPower of attorney · Capital conversion · Board composition9 facts ▸
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointments
Power of attorney · Capital conversion · Board composition9 facts ▸
- Power of attorney
- Other provision, “confirmation gérant actuel en qualité d'administrateur, gérant actuel” (deed in French)
- Other provision, “adaptation statuts et maintien forme, SRL” (deed in French)
- Capital conversion, “loi, de plein droit” (deed in French)
- Other provision, “fonds disponibles pour distribution, suppression compte capitaux propres statutairement indisponible” (deed in French)
- Amendment of the articles
- Board composition, LE CLERCQ Pierre-Paul (director)
- Board composition, DELORI Nathalie (director)
- Capital
2023
27-04
NBB filing
Annual accounts filed
financial year 2022 · micro format
2022
09-05
NBB filing
Annual accounts filed
financial year 2021 · micro format · 9 days late
2021
29-04
NBB filing
Annual accounts filed
financial year 2020 · micro format
2020
19-05
NBB filing
Annual accounts filed
financial year 2019 · micro format · 19 days late
2019
16-04
NBB filing
Annual accounts filed
financial year 2018 · micro format
2018
11-05
NBB filing
Annual accounts filed
financial year 2017 · micro format · 11 days late
2016
30-05
NBB filing
Annual accounts filed
financial year 2015 · full format · 30 days late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 28 annual accounts filed, the latest 10 are here; all 28 are under Financials.
1 of 3 deeds read
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded24-04-1996
Financial year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
47120Other non-specialised retail sale
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0457777147
Registered
18-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 1996
Ground area
3,444 m²
Building footprint
384 m²
Building volume
2,295 m³
2 parcels, Brussels, Wallonia · tallest building 13.2 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CEPEGEM
since 1996unit no. 2.076.503.249
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21614H0008/00V042 | Brussels | 2,261 m² | 1 · 269 m² | 13.2 m · 3 |
| 25055B0576/00A000 | Wallonia | 1,183 m² | 1 · 115 m² | - |
How the parcels are linked
Good to know
Both parcels match the address exactly.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CEPEGEM
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, sièges administratifs,succursales,agences,dépôts,comptoirs en Belgique et à l'étranger” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 16 .- Représentation - Actes et actions judiciaires. La société est représentée dans les actes, y compris ceux où interviennent un…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Nommés avec ou sans limitation de durée, portée aux frais généraux indépendamment de représentation,voyages,déplacements” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Refus d'agrément d'une cession entre vifs, opposition devant le Président du Tribunal des Entreprises du siège siégeant comme en référé” (deed in French)“Valeur d'actif net résultant des derniers comptes annuels approuvés, droit nonobstant clause contraire à la valeur des actions transmises” (deed in French)1 more provision on this in the deed
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Émettre des actions nouvelles,des obligations convertibles ou des droits de souscription, autorisation” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of February at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Délibérer et le cas échéant décider dissolution éventuelle ou autres mesures annoncées ordre du jour pour assurer continuité, actif net…” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Les plus étendus conférés par articles 2:87 et suivants CSA, dissolution pour quelque cause et à quelque moment” (deed in French)