CERTEX
ActiveSummary
CERTEX has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.1m and a net result of €59,138. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 93% of 231 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▲+1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220,000 at 30 days acceptable
Liquidity ample (current ratio 7.09 against 7.09 in 2024; short-term debt: 14.1% and cash: 0% of total assets), and 14.1% 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 · 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
85.9%
Return on assets
1.6%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Waste collection, recovery and disposal activities (NACE 38)
about 10% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 04-05-2026, 4 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
4 d late
2024
5 d late
2023
4 d early
2022
2 d early
2021
1 d early
2020
2 d early
2019
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average on the deadline day; the sector median for financial year 2024 is 8 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 29 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€59,138▲ 5.8%
2024 · €55,894
Working capital
€3.1m▲ 1.9%
2024 · €3.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, 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
Line20212022202320242025
Operating result-€10,687▲ 99.5%-€6,921▲ 35.2%€129,042-€8,494-€6,665▲ 21.5%
Net result€51,228within the sector's middle half€52,374within the sector's middle half▲ 2.2%€192,201within the sector's middle half▲ 267%€55,894within the sector's middle half▼ 70.9%€59,138within the sector's middle half▲ 5.8%
Equity€2.7mabove the sector's middle half▲ 1.9%€2.6mwithin the sector's middle half▼ 4.2%€3.0mabove the sector's middle half▲ 16.3%€3.1mwithin the sector's middle half▲ 1.9%€3.1mwithin the sector's middle half▲ 1.9%
Total assets€3.1mwithin the sector's middle half▲ 1.1%€3.2mwithin the sector's middle half▲ 2.3%€3.5mwithin the sector's middle half▲ 10.1%€3.6mwithin the sector's middle half▲ 1.8%€3.6mwithin the sector's middle half▲ 1.9%
Debt€413,789▼ 4.3%€597,780▲ 44.5%€496,651▼ 16.9%€502,379▲ 1.2%€511,599▲ 1.8%
Working capital€2.7mabove the sector's middle half▲ 1.9%€2.6mwithin the sector's middle half▼ 2.3%€3.0mabove the sector's middle half▲ 14.1%€3.1mwithin the sector's middle half▲ 1.9%€3.1mwithin the sector's middle half▲ 1.9%
Solvency86.7%above the sector's middle half▲ 0.8pp81.2%above the sector's middle half▼ 5.5pp85.8%above the sector's middle half▲ 4.6pp85.9%above the sector's middle half▲ 0.1pp85.9%above the sector's middle half=
Current ratio7.51above the sector's middle half▲ 0.405.81above the sector's middle half▼ 1.707.04above the sector's middle half▲ 1.237.09above the sector's middle half▲ 0.047.09above the sector's middle half▲ 0.01
Return on assets (ROA)1.6%within the sector's middle half▲ 68.3pp1.6%within the sector's middle half=5.5%within the sector's middle half▲ 3.8pp1.6%within the sector's middle half▼ 3.9pp1.6%within the sector's middle half▲ 0.1pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2024 Net result -71% on 2023. The accounts now follow the full schema, last year the abbreviated schema.
- 2023 Net result +267% on 2022. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6,665 in 2025 against €8,494 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.6m
Fixed assets
€1,029 =
Current assets
€3.6m ▲ 1.9%
Equity and liabilities €3.6m
Equity
€3.1m ▲ 1.9%
Debt
€511,599 ▲ 1.8%
Debt's share of the balance-sheet total stays at 14.1%.
Key figures and ratios
Debt to equity
0.16▼
2024 · 0.16
ROE
1.9%▲
2024 · 1.8%
Debt ≤ 1 year
€511,599▲
2024 · €502,379
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 14,733 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €137,323 | €0 | - | - |
| Other operating charges640/8 | €1,561 | €76 | €2,115 | €1,225 | €1,385 | ▲ 13.0% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | -€9,126 | -€6,846 | €131,157 | -€7,269 | -€5,280 | ▲ 27.4% |
| Operating profit (loss)9901 | -€10,687 | -€6,921 | €129,042 | -€8,494 | -€6,665 | ▲ 21.5% |
| Financial income75/76B | €62,510 | €62,342 | €63,528 | €64,798 | €66,094 | ▲ 2.0% |
| Recurring financial income75 | €62,510 | €62,342 | €63,528 | €64,798 | €66,094 | ▲ 2.0% |
| Financial charges65/66B | €595 | €3,046 | €368 | €410 | €291 | ▼ 29.0% |
| Recurring financial charges65 | €595 | €3,046 | €368 | €410 | €291 | ▼ 29.0% |
| Profit (loss) for the period before taxes9903 | €51,228 | €52,374 | €192,201 | €55,894 | €59,138 | ▲ 5.8% |
| Profit (loss) for the period9904 | €51,228 | €52,374 | €192,201 | €55,894 | €59,138 | ▲ 5.8% |
| Profit (loss) for the period to be appropriated9905 | €51,228 | €52,374 | €192,201 | €55,894 | €59,138 | ▲ 5.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.1m | €3.2m | €3.5m | €3.6m | €3.6m | ▲ 1.9% |
| Fixed assets21/28 | €1,029 | €1,029 | €1,029 | €1,029 | €1,029 | = |
| Financial fixed assets28 | €1,029 | €1,029 | €1,029 | €1,029 | €1,029 | = |
| Current assets29/58 | €3.1m | €3.2m | €3.5m | €3.6m | €3.6m | ▲ 1.9% |
| Amounts receivable within one year40/41 | €3.1m | €3.2m | €3.5m | €3.6m | €3.6m | ▲ 1.9% |
| Trade receivables40 | - | - | - | - | €1,952 | - |
| Other amounts receivable41 | €3.1m | €3.2m | €3.5m | €3.6m | €3.6m | ▲ 1.9% |
| Cash at bank and in hand54/58 | €8 | €0 | €12 | €11 | €1 | ▼ 87.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.1m | €3.2m | €3.5m | €3.6m | €3.6m | ▲ 1.9% |
| Equity10/15 | €2.7m | €2.6m | €3.0m | €3.1m | €3.1m | ▲ 1.9% |
| Contributions10/11 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Capital10 | €0 | - | - | - | - | - |
| Issued capital100 | €0 | - | - | - | - | - |
| Outside capital11 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Other1109/19 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Reserves13 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Profit (loss) carried forward14 | -€3.7m | -€3.7m | -€3.5m | -€3.4m | -€3.4m | ▲ 1.7% |
| Investment grants15 | €2.7m | €2.5m | €2.7m | €2.7m | €2.7m | = |
| Amounts payable17/49 | €413,789 | €597,780 | €496,651 | €502,379 | €511,599 | ▲ 1.8% |
| Amounts payable after more than one year17 | - | €50,958 | €0 | - | - | - |
| Financial debts170/4 | - | €50,958 | €0 | - | - | - |
| Amounts payable within one year42/48 | €413,789 | €546,822 | €496,651 | €502,379 | €511,599 | ▲ 1.8% |
| Current portion of amounts payable after more than one year42 | - | €114,870 | €233,832 | €233,832 | €229,832 | ▼ 1.7% |
| Trade debts44 | €377,539 | €375,007 | €242,368 | €238,179 | €238,757 | ▲ 0.2% |
| Suppliers440/4 | €377,539 | €375,007 | €242,368 | €238,179 | €238,757 | ▲ 0.2% |
| Other amounts payable47/48 | €36,251 | €56,945 | €20,451 | €30,368 | €43,010 | ▲ 41.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51,228 | €52,374 | €192,201 | €55,894 | €59,138 | ▲ 5.8% |
| Operating cash flow (approximation) | €51,228 | €52,374 | €192,201 | €55,894 | €59,138 | ▲ 5.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€8 | €12 | -€1 | -€10 | ▼ 978% |
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
Next filing, fiscal year 2026, expected by
2026
04-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 4 days late
2025
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 5 days late
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Highest result since 2018net €192,201 ▲267%
Operating result €129,042, net result €192,201, both a record.
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €51,228
Net result €51,228 after 3 loss-making years.
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Weakest financial yearnet -€2.0m
Net result drops to -€2.0m, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity times 22914current ratio 7.11
Current ratio from 0.00 to 7.11; short-term debt falls from €4.0m to €432,597.
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Seneffe
Ground area
1,012 m²
Building footprint
244 m²
Parcel 52003B0364/00N000, Wallonia. Linked by address, not a title deed.
54
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52003B0364/00N000 | Wallonia | 1,012 m² | 1 · 244 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 978 companies in sector 38210 we hold annual accounts for 587. 373 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-12-1975
Fiscal year end30-09
Activities, NACEBEL 2025
38210Materials recovery from waste
E-invoicing
Not found in the Peppol register
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.