CERGAS
ActiveCERGAS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.45M and a net result of €1.20M. Equity is growing by ~32.5% per year across the filed fiscal years. Its solvency ranks better than 31% of 4149 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability59=
Solvency45=
Growth84▼-1
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230k at 30 days acceptable
Liquidity short (current ratio 0.79 against 0.84 in 2024; short-term debt: 59.7% and cash: 1.5% of total assets), and 80.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.8%
Return on assets
5.3%
Age of the figures
9 mo
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
24 d early
2023
15 d early
2022
24 d late
2021
66 d late
2020
25 d late
2019
105 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€144.81M▲ 15.3%
2024 · €125.60M
2019: €50.68M
2020: €39.05M
2021: €60.10M
2022: €70.06M
2023: €85.15M
2024: €125.60M
2019 → 2025
EBIT margin
1.0%=
2024 · 1.0%
2019: 0.3%
2020: 0.9%
2021: 0.8%
2022: 0.9%
2023: 0.7%
2024: 1.0%
2019 → 2025
Net result
€1.20M▲ 38.0%
2024 · €871k
2018: €54k
2019: €79k
2020: €243k
2021: €1.02M
2022: €428k
2023: €296k
2024: €871k
2018 → 2025
Working capital
€-2.83M▼ 90.8%
2024 · €-1.48M
2018: €-312k
2019: €-241k
2020: €13k
2021: €556k
2022: €-572k
2023: €-776k
2024: €-1.48M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€60.10M-€70.06M▲ 16.6%€85.15M▲ 21.5%€125.60M▲ 47.5%€144.81M▲ 15.3%
Equity€1.96M-€2.29M▲ 17.0%€2.50M▲ 8.8%€3.30M▲ 32.1%€4.45M▲ 35.1%
Operating result€466k-€614k▲ 31.7%€565k▼ 8.0%€1.30M▲ 130%€1.45M▲ 11.2%
Net result€1.02M-€428k▼ 58.2%€296k▼ 30.9%€871k▲ 194%€1.20M▲ 38.0%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22.54M
Fixed assets
€11.93M▲ 42.7%
Current assets
€10.61M▲ 37.1%
Equity and liabilities €22.54M
Equity
€4.45M▲ 35.1%
Debt
€18.09M▲ 41.3%
The debt ratio rises from 79.5% to 80.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.86M▲
2024 · €1.69M
Cash flow
€1.61M▲
2024 · €1.26M
Solvency
19.8%▼
2024 · 20.5%
Current ratio
0.79▼
2024 · 0.84
Quick ratio
0.74▼
2024 · 0.81
Debt / equity
4.06▲
2024 · 3.88
ROE
27.0%▲
2024 · 26.4%
ROA
5.3%▼
2024 · 5.4%
Interest coverage
11.24▼
2024 · 12.36
Debt
€18.09M▲
2024 · €12.80M
Debt ≤ 1 year
€13.44M▲
2024 · €9.23M
Debt > 1 year
€4.52M▲
2024 · €3.58M
Income taxes
€338k▲
2024 · €319k
Staff costs
€804k▲
2024 · €653k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€16.10M€22.54M▲
Fixed assets21/28€8.36M€11.93M▲
Intangible fixed assets21€5k€191k▲
Tangible fixed assets22/27€2.07M€1.92M▼
Land and buildings22€892k€786k▼
Plant, machinery and equipment23€329k€295k▼
Furniture and vehicles24€170k€189k▲
Leasing and similar rights25€660k€634k▼
Other tangible fixed assets26€14k€13k▼
Financial fixed assets28€6.29M€9.82M▲
Affiliated companies280/1€6.29M€9.82M▲
Participating interests280€6.29M€9.82M▲
Current assets29/58€7.74M€10.61M▲
Amounts receivable after more than one year29€737k€519k▼
Other amounts receivable291€737k€519k▼
Stocks and contracts in progress3€308k€621k▲
Stocks30/36€308k€621k▲
Goods purchased for resale34€308k€621k▲
Amounts receivable within one year40/41€6.40M€9.14M▲
Trade receivables40€6.40M€7.41M▲
Other amounts receivable41€2k€1.73M▲
Cash at bank and in hand54/58€279k€334k▲
Deferred charges and accrued income490/1€17k-
Equity and liabilities
Total equity and liabilities10/49€16.10M€22.54M▲
Equity10/15€3.30M€4.45M▲
Contributions10/11€25k€25k=
Reserves13€392k€749k▲
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Tax-exempt reserves132€389k€747k▲
Profit (loss) carried forward14€2.80M€3.61M▲
Investment grants15€78k€68k▼
Amounts payable17/49€12.80M€18.09M▲
Amounts payable after more than one year17€3.58M€4.52M▲
Financial debts170/4€3.58M€4.52M▲
Credit institutions173€3.58M€4.52M▲
Amounts payable within one year42/48€9.23M€13.44M▲
Current portion of amounts payable after more than one year42€947k€1.20M▲
Financial debts43€2.02M€2.47M▲
Credit institutions430/8€515k€467k▼
Other loans439€1.50M€2.00M▲
Trade debts44€5.63M€9.39M▲
Suppliers440/4€5.63M€9.39M▲
Taxes, remuneration and social security45€202k€264k▲
Taxes450/3€126k€176k▲
Remuneration and social security454/9€76k€88k▲
Other amounts payable47/48€425k€120k▼
Accrued charges and deferred income492/3-€124k
Income statement
Code20242025
Operating income70/76A€125.99M€145.19M▲
Turnover70€125.60M€144.81M▲
Other operating income74€242k€383k▲
Non-recurring operating income76A€152k€3k▼
Operating charges60/66A€124.69M€143.74M▲
Goods for resale, raw materials and consumables60€121.94M€141.14M▲
Purchases600/8€121.95M€141.45M▲
Change in stocks: decrease (increase)609€-8k€-313k▼
Services and other goods61€1.69M€1.33M▼
Remuneration, social security and pensions62€653k€804k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€388k€413k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-11k€-4k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-57k-
Other operating charges640/8€69k€46k▼
Non-recurring operating charges66A€21k€13k▼
Operating profit (loss)9901€1.30M€1.45M▲
Financial income75/76B€34k€266k▲
Recurring financial income75€34k€266k▲
Income from financial fixed assets750€560€250k▲
Income from current assets751€21k€4k▼
Other financial income752/9€12k€12k▼
Financial charges65/66B€146k€174k▲
Recurring financial charges65€146k€174k▲
Debt charges650€137k€166k▲
Other financial charges652/9€9k€8k▼
Profit (loss) for the period before taxes9903€1.19M€1.54M▲
Income taxes67/77€319k€338k▲
Taxes670/3€319k€338k▲
Profit (loss) for the period9904€871k€1.20M▲
Transfer to tax-exempt reserves689€370k€358k▼
Profit (loss) for the period to be appropriated9905€500k€843k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.86M€3.64M▲
Profit (loss) brought forward from the previous period14P€2.36M€2.80M▲
Profit to be distributed694/7€60k€35k▼
Return on contributions (dividend)694€60k€35k▼
Social balance
Average headcount (FTE)908716.018.0▲
The notes to these accounts (62 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €1.20M ▲38%
Operating result €1.45M, net result €1.20M, both a record.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 24 days late
2022
31-12
Financial
Equity above €2MEq €2.29M ▲17%
5 profitable years in a row build equity to €2.29M.
05-10
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema · 66 days late
2021
31-12
Financial
Equity above €1MEq €1.96M ▲107%
4 profitable years in a row build equity to €1.96M.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema · 25 days late
2020
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 105 days late
2019
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 42 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Cerfontaine · 3 establishment units since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Basse-Flandre(Cer) 115630 CerfontaineGround area
9,180 m²
Building footprint
1,604 m²
3 parcels, Wallonia. Linked by address, not a title deed.
3 establishment units
Rue Basse-Flandre(Cer) 11, 5630 Cerfontaine
since 19992.091.228.245
Cergas
since 20172.266.307.703
Cergas
since 20172.266.307.802
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93039B0138/00P000 | Wallonia | 8,070 m² | 1 · 1,361 m² | - |
| 93053A0334/00N002 | Wallonia | 601 m² | 1 · 116 m² | - |
| 93010B0510/00F000 | Wallonia | 508 m² | 1 · 127 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
549300MKY24WJSG15B42
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PLUSQUIN BRANDSTOFFEN
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CFdC
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VERWORST
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Of 3,235 companies in sector 47781 we hold annual accounts for 744. 246 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-04-1999
Fiscal year end31-12
Activities, NACEBEL
46810Wholesale of solid, liquid and gaseous fuels and related products
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
52481
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.