CERFMEN
ActiveSummary
The annual accounts of CERFMEN for fiscal year 2024 show a net loss of 62% of the equity at the start of that year. The 2024 annual accounts show equity of €2k and a net result of €-4k. Equity is growing by ~82% per year across the filed fiscal years. Its solvency ranks better than 23% of 19356 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability14▼-86
Solvency27▼-28
Growth78=
Track record94
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.93 against 0.79 in 2023; short-term debt: 97.5% and cash: 5.9% of total assets), and 97.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
2.5%
Return on assets
-4%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 19356 sector peers (2024).
NBB · sector comparisonPosition among 19356 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
41 d early
2022
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€2k▼ 62.2%
2023 · €6k
2022: €-3klowest in 3 years
2023: €6k▲ +269% vs 2022highest in 3 years
2024: €2k▼ -62.2% vs 2023
2022 → 2024
Total assets
€91k▲ 364%
2023 · €20k
2022: €133khighest in 3 years
2023: €20k▼ -85.3% vs 2022lowest in 3 years
2024: €91k▲ +364% vs 2023
2022 → 2024
Net result
€-4k
2023 · €9k
2022: €-6klowest in 3 years
2023: €9k▲ +245% vs 2022highest in 3 years
2024: €-4k▼ -139% vs 2023
2022 → 2024
Working capital
€-6k▼ 105%
2023 · €-3k
2022: €-5k
2023: €-3k▲ +36.5% vs 2022highest in 3 years
2024: €-6k▼ -105% vs 2023lowest in 3 years
2022 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€-3k-€6k€2k▼ 62.2%
2022: €-3klowest in 3 years
2023: €6k▲ +269% vs 2022highest in 3 years
2024: €2k▼ -62.2% vs 2023
Operating result€-6k-€11k€-4k
2022: €-6klowest in 3 years
2023: €11k▲ +269% vs 2022highest in 3 years
2024: €-4k▼ -134% vs 2023
Net result€-6k-€9k€-4k
2022: €-6klowest in 3 years
2023: €9k▲ +245% vs 2022highest in 3 years
2024: €-4k▼ -139% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €4k after €11k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €91k
Fixed assets
€8k ▼ 7.1%
Current assets
€83k ▲ 665%
Equity and liabilities €91k
Equity
€2k ▼ 62.2%
Debt
€89k ▲ 547%
Debt's share of the balance-sheet total rises from 69.9% to 97.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-257▼
2023 · €13k
Cash flow
€-311▼
2023 · €12k
Current ratio
0.93▲
2023 · 0.79
Quick ratio
0.06▼
2023 · 0.79
Debt to equity
39.75▲
2023 · 2.32
ROE
-164.6%▼
2023 · 159.1%
ROA
-4.0%▼
2023 · 47.9%
Interest coverage
-4.76▼
2023 · 214.41
Debt ≤ 1 year
€89k▲
2023 · €14k
Income taxes
€0▼
2023 · €1k
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 · 2024 against 2023 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€20k€91k▲
Fixed assets21/28€9k€8k▼
Tangible fixed assets22/27€9k€8k▼
Plant, machinery and equipment23€551€2k▲
Furniture and vehicles24€8k€6k▼
Current assets29/58€11k€83k▲
Stocks and contracts in progress3€0€77k▲
Stocks30/36€0€75k▲
Contracts in progress37-€2k
Amounts receivable within one year40/41€0-
Other amounts receivable41€0-
Cash at bank and in hand54/58€10k€5k▼
Deferred charges and accrued income490/1€435€5▼
Equity and liabilities
Total equity and liabilities10/49€20k€91k▲
Equity10/15€6k€2k▼
Contributions10/11€3k€3k=
Reserves13€3k€3k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€0€-4k▼
Amounts payable17/49€14k€89k▲
Amounts payable within one year42/48€14k€89k▲
Trade debts44€236€88▼
Suppliers440/4€236€88▼
Taxes, remuneration and social security45€1k€1k=
Taxes450/3€1k€1k=
Other amounts payable47/48€12k€87k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€228€920▲
Gross operating margin9900€13k€663▼
Operating profit (loss)9901€11k€-4k▼
Financial charges65/66B€60€54▼
Recurring financial charges65€60€54▼
Profit (loss) for the period before taxes9903€11k€-4k▼
Income taxes67/77€1k€0▼
Profit (loss) for the period9904€9k€-4k▼
Profit (loss) for the period to be appropriated9905€9k€-4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€-4k▼
Profit (loss) brought forward from the previous period14P€-6k€0▲
Transfer to equity691/2€3k€0▼
To other reserves6921€3k€0▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €3k | ▲ 57.4% |
| Other operating charges640/8 | €695 | €228 | €920 | ▲ 303% |
| Gross operating margin9900 | €-3k | €13k | €663 | ▼ 94.9% |
| Operating profit (loss)9901 | €-6k | €11k | €-4k | ▼ 134% |
| Financial charges65/66B | €159 | €60 | €54 | ▼ 9.9% |
| Recurring financial charges65 | €159 | €60 | €54 | ▼ 9.9% |
| Profit (loss) for the period before taxes9903 | €-6k | €11k | €-4k | ▼ 134% |
| Income taxes67/77 | - | €1k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €-6k | €9k | €-4k | ▼ 139% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €9k | €-4k | ▼ 139% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €133k | €20k | €91k | ▲ 364% |
| Formation expenses20 | €0 | - | - | - |
| Fixed assets21/28 | €1k | €9k | €8k | ▼ 7.1% |
| Tangible fixed assets22/27 | €1k | €9k | €8k | ▼ 7.1% |
| Land and buildings22 | €0 | - | - | - |
| Plant, machinery and equipment23 | - | €551 | €2k | ▲ 322% |
| Furniture and vehicles24 | €1k | €8k | €6k | ▼ 29.1% |
| Current assets29/58 | €132k | €11k | €83k | ▲ 665% |
| Stocks and contracts in progress3 | €67k | €0 | €77k | - |
| Stocks30/36 | €67k | €0 | €75k | - |
| Contracts in progress37 | - | - | €2k | - |
| Amounts receivable within one year40/41 | €4k | €0 | - | - |
| Other amounts receivable41 | €4k | €0 | - | - |
| Cash at bank and in hand54/58 | €61k | €10k | €5k | ▼ 48.2% |
| Deferred charges and accrued income490/1 | €435 | €435 | €5 | ▼ 98.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €133k | €20k | €91k | ▲ 364% |
| Equity10/15 | €-3k | €6k | €2k | ▼ 62.2% |
| Contributions10/11 | €3k | €3k | €3k | = |
| Reserves13 | - | €3k | €3k | = |
| Distributable reserves133 | - | €3k | €3k | = |
| Profit (loss) carried forward14 | €-6k | €0 | €-4k | - |
| Amounts payable17/49 | €137k | €14k | €89k | ▲ 547% |
| Amounts payable within one year42/48 | €137k | €14k | €89k | ▲ 547% |
| Trade debts44 | €61k | €236 | €88 | ▼ 62.9% |
| Suppliers440/4 | €61k | €236 | €88 | ▼ 62.9% |
| Taxes, remuneration and social security45 | - | €1k | €1k | = |
| Taxes450/3 | - | €1k | €1k | = |
| Other amounts payable47/48 | €76k | €12k | €87k | ▲ 617% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €9k | €-4k | ▼ 139% |
| + Depreciation and write-downs630 | €2k | €2k | €3k | ▲ 57.4% |
| Operating cash flow (approximation) | €-4k | €12k | €-311 | ▼ 103% |
| Investment in fixed assets (approximation) | - | €-10k | €-3k | ▲ 72.2% |
| Change in cash | - | €-50k | €-5k | ▲ 90.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Herve · 1 establishment unit since 2021
Ground area
3,425 m²
Building footprint
88 m²
Volume, LiDAR
702 m³
Parcel 63010B0084/00C000, Wallonia · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CERFMEN
since 20212.344.453.277
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63010B0084/00C000 | Wallonia | 3,425 m² | 1 · 88 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 1,380 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-09-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
85532Education
Scores and ratios are computed by Checked and are not a credit decision.