CERISE
ActiveSummary
CERISE has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €36,729 and a net result of €18,689. Equity is shrinking by ~21.3% per year across the filed fiscal years. Its solvency ranks better than 27% of 1235 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▲+10
Solvency46▲+9
Growth38=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.15 against 0.09 in 2023; short-term debt: 72.8% and cash: 6.7% of total assets), and 79.3% of the assets are financed with debt.
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Signals
Six 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 18
Relative position
BE, all sectors
reference
Printing and reproduction of recorded media (NACE 18)
about 11% 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
20.7%
Return on assets
10.5%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €36,729
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-08-2025, 13 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
13 d late
2023
6 d late
2022
18 d late
2021
19 d late
2020
25 d late
2019
57 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 4 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€26,396▲ 9.0%
2020 · €24,225
EBIT margin
-43.8%▲ 43.5pp
2020 · -87.3%
Net result
€18,689▲ 320%
2023 · €4,454
Working capital
-€109,859▲ 17.4%
2023 · -€132,947
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€24,225▼ 43.1%€26,396▲ 9.0%
Operating result-€21,145▼ 51.3%-€11,553▲ 45.4%-€8,569▲ 25.8%-€925▲ 89.2%€13,414
Net result-€20,350below the sector's middle half▼ 53.7%-€10,844below the sector's middle half▲ 46.7%-€7,880below the sector's middle half▲ 27.3%€4,454within the sector's middle half€18,689within the sector's middle half▲ 320%
EBIT margin-87.3%▼ 54.5pp-43.8%▲ 43.5pp
Equity€41,317within the sector's middle half▼ 33.0%€30,474within the sector's middle half▼ 26.2%€22,594within the sector's middle half▼ 25.9%€22,543within the sector's middle half▼ 0.2%€36,729within the sector's middle half▲ 62.9%
Total assets€200,695within the sector's middle half▼ 9.1%€191,393within the sector's middle half▼ 4.6%€185,574within the sector's middle half▼ 3.0%€181,452within the sector's middle half▼ 2.2%€177,667within the sector's middle half▼ 2.1%
Debt€144,248▲ 0.8%€146,680▲ 1.7%€149,630▲ 2.0%€146,449▼ 2.1%€129,368▼ 11.7%
Working capital-€136,857below the sector's middle half▼ 8.6%-€138,178below the sector's middle half▼ 1.0%-€141,798below the sector's middle half▼ 2.6%-€132,947below the sector's middle half▲ 6.2%-€109,859below the sector's middle half▲ 17.4%
Solvency20.6%within the sector's middle half▼ 7.3pp15.9%within the sector's middle half▼ 4.7pp12.2%below the sector's middle half▼ 3.7pp12.4%below the sector's middle half▲ 0.2pp20.7%within the sector's middle half▲ 8.2pp
Current ratio0.05below the sector's middle half▼ 0.070.06below the sector's middle half▲ 0.010.05below the sector's middle half▼ 0.010.09below the sector's middle half▲ 0.040.15below the sector's middle half▲ 0.06
Return on assets (ROA)-10.1%below the sector's middle half▼ 4.1pp-5.7%below the sector's middle half▲ 4.5pp-4.2%below the sector's middle half▲ 1.4pp2.5%within the sector's middle half▲ 6.7pp10.5%within the sector's middle half▲ 8.1pp
Staff (FTE)0.3
above
within
below
the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €13,414 after a loss of €925 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €177,667
Fixed assets
€158,159 ▼ 5.8%
Current assets
€19,509 ▲ 44.5%
Equity and liabilities €177,667
Equity
€36,729 ▲ 62.9%
Provisions
€11,570 ▼ 7.1%
Debt
€129,368 ▼ 11.7%
Debt's share of the balance-sheet total falls from 80.7% to 72.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€23,206▲
2023 · €8,867
Cash flow
€28,481▲
2023 · €14,246
Debt to equity
3.52▼
2023 · 6.50
ROE
50.9%▲
2023 · 19.8%
Interest coverage
159.19▲
2023 · 90.99
Debt ≤ 1 year
€129,368▼
2023 · €146,449
Staff costs
€3,648▲
2023 · €3,344
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,815 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,815 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €24,225 | €26,396 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €27,691 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €3,770 | €6,222 | €3,344 | €3,648 | ▲ 9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,412 | €10,412 | €9,694 | €9,792 | €9,792 | = |
| Other operating charges640/8 | - | €868 | €1,407 | €1,656 | €1,130 | ▼ 31.7% |
| Gross operating margin9900 | -€5,696 | €3,496 | €8,755 | €13,867 | €27,985 | ▲ 102% |
| Operating profit (loss)9901 | -€21,145 | -€11,553 | -€8,569 | -€925 | €13,414 | ▲ 1,550% |
| Financial income75/76B | - | - | - | €83 | €27 | ▼ 66.9% |
| Recurring financial income75 | €0 | - | - | €83 | €27 | ▼ 66.9% |
| Financial charges65/66B | - | €97 | €123 | €97 | €146 | ▲ 49.6% |
| Recurring financial charges65 | €95 | €97 | €123 | €97 | €146 | ▲ 49.6% |
| Profit (loss) for the period before taxes9903 | -€21,240 | -€11,650 | -€8,692 | -€940 | €13,295 | ▲ 1,514% |
| Transfer from deferred taxes780 | - | €890 | €890 | €5,394 | €5,394 | = |
| Income taxes67/77 | - | €83 | €78 | - | - | - |
| Profit (loss) for the period9904 | -€20,350 | -€10,844 | -€7,880 | €4,454 | €18,689 | ▲ 320% |
| Transfer from tax-exempt reserves789 | - | €4,504 | €4,504 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€15,846 | -€6,340 | -€3,376 | €4,454 | €18,689 | ▲ 320% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €200,695 | €191,393 | €185,574 | €181,452 | €177,667 | ▼ 2.1% |
| Fixed assets21/28 | €193,304 | €182,892 | €177,742 | €167,950 | €158,159 | ▼ 5.8% |
| Tangible fixed assets22/27 | €193,304 | €182,892 | €177,342 | €167,550 | €157,759 | ▼ 5.8% |
| Land and buildings22 | - | €182,892 | €177,342 | €167,550 | €157,759 | ▼ 5.8% |
| Furniture and vehicles24 | - | €0 | - | - | - | - |
| Financial fixed assets28 | - | - | €400 | €400 | €400 | = |
| Current assets29/58 | €7,391 | €8,501 | €7,832 | €13,502 | €19,509 | ▲ 44.5% |
| Amounts receivable within one year40/41 | €3,081 | €3,164 | €4,075 | €7,338 | €7,465 | ▲ 1.7% |
| Trade receivables40 | - | €3,114 | €4,075 | €7,338 | €6,581 | ▼ 10.3% |
| Other amounts receivable41 | - | €50 | - | - | €884 | - |
| Cash at bank and in hand54/58 | €4,310 | €5,337 | €3,362 | €5,814 | €11,918 | ▲ 105% |
| Deferred charges and accrued income490/1 | - | - | €395 | €350 | €126 | ▼ 64.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €200,695 | €191,393 | €185,574 | €181,452 | €177,667 | ▼ 2.1% |
| Equity10/15 | €41,317 | €30,474 | €22,594 | €22,543 | €36,729 | ▲ 62.9% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €76,762 | €72,258 | €67,754 | €63,250 | €58,746 | ▼ 7.1% |
| Non-distributable reserves130/1 | - | €194 | €194 | €194 | €194 | = |
| Reserves not available under the articles1311 | - | €194 | €194 | €194 | €194 | = |
| Tax-exempt reserves132 | - | €72,064 | €67,560 | €63,056 | €58,552 | ▼ 7.1% |
| Profit (loss) carried forward14 | -€54,037 | -€60,377 | -€63,753 | -€59,299 | -€40,609 | ▲ 31.5% |
| Provisions and deferred taxes16 | €15,130 | €14,240 | €13,350 | €12,460 | €11,570 | ▼ 7.1% |
| Deferred taxes168 | - | €14,240 | €13,350 | €12,460 | €11,570 | ▼ 7.1% |
| Amounts payable17/49 | €144,248 | €146,680 | €149,630 | €146,449 | €129,368 | ▼ 11.7% |
| Amounts payable within one year42/48 | €144,248 | €146,680 | €149,630 | €146,449 | €129,368 | ▼ 11.7% |
| Trade debts44 | €1,286 | €4,078 | €5,414 | €402 | €155 | ▼ 61.4% |
| Suppliers440/4 | - | €4,078 | €5,414 | €402 | €155 | ▼ 61.4% |
| Advances received on contracts in progress46 | - | - | - | €6,377 | - | - |
| Taxes, remuneration and social security45 | - | €701 | €357 | €313 | - | - |
| Taxes450/3 | - | €701 | €357 | €313 | - | - |
| Remuneration and social security454/9 | - | €0 | - | - | - | - |
| Other amounts payable47/48 | - | €141,900 | €143,859 | €139,357 | €129,213 | ▼ 7.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,350 | -€10,844 | -€7,880 | €4,454 | €18,689 | ▲ 320% |
| + Depreciation and write-downs630 | €10,412 | €10,412 | €9,694 | €9,792 | €9,792 | = |
| Operating cash flow (approximation) | -€9,938 | -€432 | €1,815 | €14,246 | €28,481 | ▲ 99.9% |
| Investment in fixed assets (approximation) | - | €0 | -€4,545 | €0 | €0 | - |
| Change in cash | - | €1,028 | -€1,975 | €2,452 | €6,104 | ▲ 149% |
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
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
31-12
Financial
Highest result since 2018net €18,689 ▲320%
Operating result €13,414, net result €18,689, both a record.
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
2023
31-12
Financial
Back to profitnet €4,454
Net result €4,454 after 5 loss-making years.
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet -€20,350
Net result drops to -€20,350, the lowest in the series; recovery starts the following year.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
31-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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 · 1 establishment unit since 1990
Ground area
2,797 m²
Building footprint
113 m²
Parcel 93068C0249/00M000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue de la Tannerie(Sen) 222, 5630 Cerfontaine
since 19902.048.187.068
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93068C0249/00M000 | Wallonia | 2,797 m² | 1 · 113 m² | - |
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 2,856 companies in sector 18130 we hold annual accounts for 832. 663 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
Founded21-05-1990
Fiscal year end31-12
Activities, NACEBEL 2025
18130Pre-press and pre-media services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440447009
Also
9925:BE0440447009
Registered
07-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.