Equity
€58,637 from €567,591 in 2015
Equity fell by 90% in 10 years.
CERAMAT
Lifetime
20 annual accounts with figures on one time axis, 45 filings since 1981peak €561,369 (2006)
€166,092▲ 76.7%
lowest -€207,345 (2024)
-€128,386▲ €78,959
peak €567,591 (2015)
€58,637▼ 68.6%
€179,365▼ 60.5%
peak 7.2 FTE (2008)
4.1 FTE▼ 8.9%
Board5 names since 2013
3 directorsQUADRUS HOLDING and 2 others
Owners
100%QUADRUS HOLDING
Documentsfilings and deeds
12-06-202649 days before the deadline
2025abbreviated format
Gross margin from €94,019 to €166,092Loss of €128,386Staff from 4.5 FTE to 4.1 FTEEquity from €187,023 to €58,637Debts from €454,060 to €179,365Cash from €7,197 to €2,570
Key points
from the 2025 annual accountsLosses
-€443,455 in three years
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Debts
€179,365 75% of the balance sheet
Financial debts 3%Suppliers 36%Taxes and wages 34%Other 27%
Of this, €171,934 falls due within a year.
Staff
4.1 FTE from 7.2 in 2008
Between 2008 and 2025, 43% of the full-time equivalents disappeared.
Filings
45 annual accounts since 1981
Seven of the last ten came late. The 2019 accounts came latest: 69 days after the end of the period.
Position in the sector
-€128,386
Lower net result than 95% of companies in retail trade. Sector median €27,458 · 12,841 companies.
Checked score
49
Fair
Financially stronger than 17% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.9% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,271 companies (NACE 47, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.0%
01-2025: 1.0%● unchanged vs 12-2024
02-2025: 1.0%● unchanged vs 01-2025
03-2025: 1.0%● unchanged vs 02-2025lowest value
04-2025: 1.0%● unchanged vs 03-2025
05-2025: 1.0%● unchanged vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.1%▲ +0.1 percentage points vs 06-2025
08-2025: 1.5%▲ +0.4 percentage points vs 07-2025
09-2025: 1.6%▲ +0.1 percentage points vs 08-2025
10-2025: 2.2%▲ +0.6 percentage points vs 09-2025
11-2025: 2.2%● unchanged vs 10-2025
12-2025: 2.2%● unchanged vs 11-2025
01-2026: 2.7%▲ +0.5 percentage points vs 12-2025
02-2026: 2.7%● unchanged vs 01-2026
03-2026: 2.7%● unchanged vs 02-2026
04-2026: 2.7%● unchanged vs 03-2026
05-2026: 2.7%● unchanged vs 04-2026
06-2026: 2.7%● unchanged vs 05-2026
07-2026: 2.9%▲ +0.2 percentage points vs 06-2026highest value
08-2026: 2.9%● unchanged vs 07-2026highest value
09-2026: 2.9%● unchanged vs 08-2026highest value
10-2026: 2.9%● unchanged vs 09-2026highest value
11-2026: 2.9%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €128,386, the second in a row (financial year 2025)
Liquidity: current ratio 1.08, cash €2,570, halved
Sector: Retail trade (NACE 47)
1 of the last 3 accounts late
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 40% of them on solvency, 13% on liquidity, 6% on profitability and 8% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,221 companies had the same profile as CERAMAT has now. Each dot stands for 4 companies, two years later.
88.6%
were still trading
7.4%
stopped another way
3.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CERAMAT itself: 2.9% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,221 companies, not a prediction for CERAMAT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €2,500 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is tight, with a current ratio of 1.08 (1.29 in 2024), below the usual 1.5. Short-term debt is 72.2% and cash 1.1% of total assets. 75.4% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€128,386
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 days early
2024
54 days late
2023
22 days late
2022
11 days late
2021
24 days late
2020
22 days early
2019
69 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 16 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 August (4 of the last 5 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- QUADRUS HOLDING 100%equity €1.5m (2025) · 2025 annual accounts of QUADRUS HOLDING
Recent changes
2 directors appointed, 1 resignation, 2 reappointments
Reappointments: Robert SCHELFHOUT (director) and QUADRUS HOLDING (director) · Permanent representative: Karin CLAES · Appointments: Karin CLAES and Robert SCHELFHOUT (managing director) · General meeting of 09-02-2024 · Gazette deed
Reappointments: RobertSchelfhout (managing director) and QuadrusHoldingN.V. (managing director)
General meeting of 12-06-2019 · Gazette deed
First establishment
CEREMAT, Leuvensesteenweg 320, Zaventem
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CERAMAT Zaventem | €238,002 | €166,092 | 24.6% | 4.1 |
| CERAMIC-DECOR Fernelmont | €343,974 | €142,621 | -6.2% | 2.2 |
| BOUWSPECIALITEITEN MERTENS Balen | €487,640 | €124,612 | 65.3% | 2.1 |
| PGB CERAMICA Wevelgem | €359,925 | €199,176 | 39.5% | - |
| TOP CARO Namur | €243,836 | €81,854 | 58.9% | - |
| ROSSI et FILS Liège | €466,899 | €92,293 | - | - |
| CERALITH Herent | €402,200 | €53,708 | 65.5% | - |
These companies have the same main activity as CERAMAT: retail trade (NACE 47523). They are comparable in size and age: total assets between €244,000 and €488,000, founded between 1986 and 2002.
Official details
Source: KBO- Status
- Active since 31-01-1980Normal situation
- Activity
- Retail tradeNACE 47523and 1 other
- Joint committee
- 201Independent retail · annual accounts 2024
- Establishment unit
- 2.017.263.1711932 Zaventem, since 01-02-1980
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €930,000estimated
- €238,002▼ 62.9%
- Employeeson 31-12-2025
- 4=
- Filing
- Filed on 12-06-2026, 49 days before the end of the filing period
Insights on CERAMAT
CERAMAT files the abbreviated format. That format states no turnover. The gross margin fell from €561,369 in 2006 to €166,092 in 2025.
QUADRUS HOLDING holds all the shares. In February 2024, the Official Gazette published the appointment of Robert SCHELFHOUT as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CERAMAT
- What is the company number of CERAMAT?
- The company number of CERAMAT is 0420.122.737. The VAT number is the same number with BE in front: BE 0420.122.737.
- Where is CERAMAT based?
- The registered office is at Leuvensesteenweg 320, 1932 Zaventem.Company details
- What does CERAMAT do?
- According to the KBO register, the main activity is retail trade (NACE 47523).
- What is the legal form of CERAMAT?
- CERAMAT is a public limited company (NV).
- When was CERAMAT founded?
- CERAMAT was founded on 31-01-1980.
- Is CERAMAT still active?
- Yes, CERAMAT is an active enterprise in the KBO register.
- How many employees does CERAMAT have?
- CERAMAT had an average of 4.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does CERAMAT fall under?
- In its 2024 annual accounts, CERAMAT states joint committee 201 (Independent retail).
- What is the turnover of CERAMAT?
- The turnover in financial year 2025 is ≈ €930,000. This figure is estimated from the gross margin of €166,092 and 34 comparable companies (NACE 475). It probably lies between €720,000 and €1.4m.
- Is CERAMAT profitable?
- In financial year 2025, CERAMAT made a loss of €128,386.
- Where can I find the annual accounts of CERAMAT?
- CERAMAT filed 45 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CERAMAT due?
- CERAMAT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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