Equity
-€17,595
Debts exceed assets in financial year 2025.
CERFMEN
Lifetime
4 annual accounts with figures on one time axispeak €13,074 (2023)
-€16,139▼ €16,802
lowest -€19,822 (2025)
-€19,822▼ €16,156
peak €5,893 (2023)
-€17,595▼ €19,822
€27,941▼ 68.4%
Board1 name since 2021
Documentsfilings and deeds
18-06-202643 days before the deadline
2025micro format
Gross margin from €663 to -€16,139Loss of €19,822Equity from €2,227 to -€17,595Debts from €88,530 to €27,941
Key points
from the 2025 annual accountsLosses
-€23,488 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Debts
€27,941 270% of the balance sheet
Liquidity
0.19 was 0.93 in 2024
Short-term debts fell from €88,530 to €27,941.
Filings
4 annual accounts 1 late
The 2022 accounts came 31 days late. The other three were filed on time.
Position in the sector
-170.1%
Lower solvency than 95% of companies in real estate. Sector median 28.9% · 17,190 companies.
Turnover not published (micro format)
Checked score
53
Fair
Financially stronger than 15% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.2%▼ -0.1 percentage points vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.3%▲ +0.1 percentage points vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.2%▼ -0.1 percentage points vs 04-2025lowest value
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.9%▲ +0.7 percentage points vs 06-2025
08-2025: 0.9%● unchanged vs 07-2025
09-2025: 0.8%▼ -0.1 percentage points vs 08-2025
10-2025: 0.8%● unchanged vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.9%▲ +0.1 percentage points vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026highest value
07-2026: 0.4%▼ -0.5 percentage points vs 06-2026
08-2026: 0.4%● unchanged vs 07-2026
09-2026: 0.3%▼ -0.1 percentage points vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€17,595
lowers risk
Size: total assets €10,347
Sector: Real estate activities (NACE 68)
Liquidity: current ratio 0.19, cash €5,019
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 68, micro). It does better than 5% of them on solvency, 49% on liquidity, 4% on profitability and 1% on growth.
The bankruptcy probability was computed on 09-11-2026 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 very low class on 30-06-2025, 0.1% 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, 6,008 companies had the same profile as CERFMEN has now. Each dot stands for 16 companies, two years later.
83.0%
were still trading
8.4%
stopped another way
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CERFMEN itself is lower: 0.3% within 12 months. It rests on far more data about CERFMEN than the profile alone.
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 6,008 companies, not a prediction for CERFMEN. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.19 (0.93 in 2024), below 1. Short-term debt is 270.1% and cash 48.5% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
22232425
2022 to 2025 · latest year -€17,595
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 18-06-2026, 43 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
43 days early
2024
38 days early
2023
41 days early
2022
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 23 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 22 June (3 of the last 4 accounts filed within 30 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
- CERFONTAINE,Daniel Joseph Robert Ghislain 100 sharesdeed of 14-09-2021
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0773754845
Incorporation
Founding capital of €3,000, 100 shares · Founder: CERFONTAINE, Daniel Joseph Robert Ghislain · Appointment: CERFONTAINE, Daniel Joseph Robert Ghislain (director) · published on 14-09-2021 · Gazette deed
First establishment
Noblehaye 150, Herve
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CERFMEN Herve | €10,347 | -€16,139 | -170.1% | - |
| GOLF CO RE Ypres | €9,010 | -€16,236 | -386.1% | - |
| A&S IMMO Sint-Gillis (bij-Brussel) | €11,206 | -€1,628 | -105.9% | - |
| Vega Projects Houthalen-Helchteren | €8,713 | -€13,236 | -51.4% | - |
| NEXUS BUILDING SOLUTIONS Ixelles | €11,293 | -€64,916 | -765.0% | - |
| Weerts Logistic Park XXXIV Tongeren-Borgloon | €12,395 | -€13,762 | -7.9% | - |
| GLAIN PROJECTS Hasselt | €13,067 | -€219 | 93.2% | - |
These companies have the same main activity as CERFMEN: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €8,710 and €13,100, founded between 2021 and 2022.
Official details
Source: KBO- Status
- Active since 10-09-2021Normal situation
- Activity
- Development of residential building projectsNACE 68121and 1 other
- Establishment unit
- 2.344.453.2774653 Herve, since 10-09-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 26-11-2025
Annual accounts 2025
- €10,347▼ 88.6%
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on CERFMEN
CERFMEN files the micro format. That format states no turnover. The gross margin fell from -€3,482 in 2022 to -€16,139 in 2025.
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 CERFMEN
- What is the company number of CERFMEN?
- The company number of CERFMEN is 0773.754.845. The VAT number is the same number with BE in front: BE 0773.754.845.
- Where is CERFMEN based?
- The registered office is at Noblehaye 150, 4653 Herve.Company details
- What does CERFMEN do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of CERFMEN?
- CERFMEN is a private limited company (BV).
- When was CERFMEN founded?
- CERFMEN was founded on 10-09-2021.
- Is CERFMEN still active?
- Yes, CERFMEN is an active enterprise in the KBO register.
- What is the turnover of CERFMEN?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is CERFMEN profitable?
- In financial year 2025, CERFMEN made a loss of €19,822.
- Where can I find the annual accounts of CERFMEN?
- CERFMEN filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CERFMEN due?
- CERFMEN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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