Cetex Sud
ActiveSummary
The computed 12-month bankruptcy probability of Cetex Sud is 1.6% (moderate). The 2025 annual accounts show equity of €1.21M and a net result of €198k. Equity is growing by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 63% of 4157 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability66▲+1
Solvency73▲+2
Growth73▲+12
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity tight (current ratio 1.29 against 1.27 in 2024; short-term debt: 51.4% and cash: 6% of total assets), and 51.8% of the assets are financed with debt.
Credit advice 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 · 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
48.2%
Return on assets
7.8%
Age of the figures
9 mo
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
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
21 d early
2023
27 d early
2022
19 d early
2021
13 d early
2020
23 d early
2019
74 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€11.47M▲ 4.0%
2024 · €11.02M
2018: €6.11M
2019: €6.34M
2020: €4.95M
2021: €7.13M
2022: €8.64M
2023: €9.68M
2024: €11.02M
2018 → 2025
EBIT margin
2.6%▲ 0.3pp
2024 · 2.2%
2018: 1.6%
2019: 2.9%
2020: 0.3%
2021: 2.1%
2022: 1.8%
2023: 2.3%
2024: 2.2%
2018 → 2025
Net result
€198k▲ 8.2%
2024 · €183k
2018: €116k
2019: €140k
2020: €22k
2021: €125k
2022: €101k
2023: €159k
2024: €183k
2018 → 2025
Working capital
€381k▲ 22.0%
2024 · €312k
2018: €555k
2019: €880k
2020: €980k
2021: €575k
2022: €699k
2023: €912k
2024: €312k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€7.13M-€8.64M▲ 21.2%€9.68M▲ 12.0%€11.02M▲ 13.9%€11.47M▲ 4.0%
Equity€1.41M-€1.51M▲ 7.2%€1.67M▲ 10.6%€1.02M▼ 39.0%€1.21M▲ 19.4%
Operating result€150k-€152k▲ 1.8%€221k▲ 44.7%€244k▲ 10.8%€294k▲ 20.3%
Net result€125k-€101k▼ 19.5%€159k▲ 58.4%€183k▲ 14.5%€198k▲ 8.2%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 20% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.52M
Fixed assets
€843k ▲ 14.7%
Current assets
€1.67M ▲ 14.0%
Equity and liabilities €2.52M
Equity
€1.21M ▲ 19.4%
Debt
€1.30M ▲ 9.7%
Debt's share of the balance-sheet total falls from 53.9% to 51.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€592k▲
2024 · €483k
Cash flow
€495k▲
2024 · €421k
Current ratio
1.29▲
2024 · 1.27
Quick ratio
0.38▲
2024 · 0.37
Debt to equity
1.07▼
2024 · 1.17
ROE
16.3%▼
2024 · 18.0%
ROA
7.8%▼
2024 · 8.3%
Interest coverage
1738.45▲
2024 · 728.04
Debt ≤ 1 year
€1.29M▲
2024 · €1.16M
Income taxes
€104k▲
2024 · €73k
Staff costs
€1.68M▲
2024 · €1.63M
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 · 2025 against 2024 · 69 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.20M€2.52M▲
Fixed assets21/28€735k€843k▲
Intangible fixed assets21€258k€187k▼
Tangible fixed assets22/27€355k€533k▲
Plant, machinery and equipment23€14k€28k▲
Furniture and vehicles24€26k€18k▼
Other tangible fixed assets26€315k€488k▲
Financial fixed assets28€123k€123k=
Other financial fixed assets284/8€123k€123k=
Amounts receivable and cash guarantees285/8€123k€123k=
Current assets29/58€1.47M€1.67M▲
Stocks and contracts in progress3€1.04M€1.19M▲
Stocks30/36€1.04M€1.19M▲
Goods purchased for resale34€1.04M€1.19M▲
Amounts receivable within one year40/41€284k€337k▲
Trade receivables40€38k€97k▲
Other amounts receivable41€245k€239k▼
Cash at bank and in hand54/58€143k€152k▲
Equity and liabilities
Total equity and liabilities10/49€2.20M€2.52M▲
Equity10/15€1.02M€1.21M▲
Contributions10/11€200k€200k=
Capital10€200k€200k=
Issued capital100€200k€200k=
Reserves13€816k€1.01M▲
Non-distributable reserves130/1€20k€20k=
Legal reserve130€20k€20k=
Distributable reserves133€796k€993k▲
Amounts payable17/49€1.19M€1.30M▲
Amounts payable within one year42/48€1.16M€1.29M▲
Trade debts44€495k€249k▼
Suppliers440/4€495k€249k▼
Taxes, remuneration and social security45€397k€376k▼
Taxes450/3€118k€95k▼
Remuneration and social security454/9€279k€281k▲
Other amounts payable47/48€264k€668k▲
Accrued charges and deferred income492/3€32k€11k▼
Income statement
Code20242025
Operating income70/76A€11.10M€11.51M▲
Turnover70€11.02M€11.47M▲
Other operating income74€77k€42k▼
Operating charges60/66A€10.86M€11.21M▲
Goods for resale, raw materials and consumables60€5.37M€5.66M▲
Purchases600/8€5.37M€5.80M▲
Change in stocks: decrease (increase)609€-3k€-143k▼
Services and other goods61€3.61M€3.57M▼
Remuneration, social security and pensions62€1.63M€1.68M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€238k€298k▲
Other operating charges640/8€9k€9k▲
Operating profit (loss)9901€244k€294k▲
Financial income75/76B€12k€7k▼
Recurring financial income75€12k€7k▼
Income from current assets751€11k€7k▼
Other financial income752/9€879-
Financial charges65/66B€714€341▼
Recurring financial charges65€714€341▼
Debt charges650€663€341▼
Other financial charges652/9€50-
Profit (loss) for the period before taxes9903€256k€301k▲
Income taxes67/77€73k€104k▲
Taxes670/3€73k€104k▲
Profit (loss) for the period9904€183k€198k▲
Profit (loss) for the period to be appropriated9905€183k€198k▲
Appropriation of the result
Profit (loss) to be appropriated9906€183k€198k▲
Transfer from equity791/2€832k-
From reserves792€832k-
Transfer to equity691/2€183k€198k▲
To other reserves6921€183k€198k▲
Profit to be distributed694/7€832k-
Return on contributions (dividend)694€832k-
Social balance
Average headcount (FTE)908724.224.9▲
The notes to these accounts (41 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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 10 days late
2025
31-12
Financial
Highest result since 2018net €198k ▲8.2%
Operating result €294k, net result €198k, both a record.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €22k ▼84%
Net result drops to €22k, the lowest in the series; recovery starts the following year.
13-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 74 days late
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
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.
Directors · office · real estate
Directors
8 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, Lebbeke · 9 establishment units since 2014
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.
Kouterbaan 449280 LebbekeGround area
12.5 ha
Building footprint
5.4 ha
Volume, LiDAR
412,551 m³
9 parcels, Brussels, Flanders, Wallonia · tallest building 27.7 m, ±6 floors. Linked by address, not a title deed.
9 establishment units
Caroline Biss
since 20142.233.809.436
Caroline Biss
since 20142.233.809.535
Caroline Biss
since 20142.233.809.634
Caroline Biss
since 20142.233.809.733
Caroline Biss
since 20142.233.810.327
Caroline Biss
since 20152.264.896.847
Show 3 more locations
Caroline Biss
since 20182.269.362.114
Caroline Biss
since 20212.318.620.692
Caroline Biss
since 20212.318.620.791
9 parcels
Flanders
4
(44.4%)
Wallonia
3
(33.3%)
Brussels
2
(22.2%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46445D1155/00R000 | Flanders | 10.8 ha | 1 · 5.0 ha | 18.2 m · 2 fl. |
| 42011A0442/00D002 | Flanders | 1.0 ha | 1 · 3,541 m² | 9.1 m · 2 fl. |
| 21674C0095/00N007 | Brussels | 5,552 m² | - | - |
| 41002A0336/00D000 | Flanders | 350 m² | 1 · 246 m² | 14.1 m · 3 fl. |
| 92094C1341/00C000 | Wallonia | 247 m² | 1 · 59 m² | - |
| 13453T0050/00L000 | Flanders | 232 m² | 1 · 232 m² | 16.3 m · 2 fl. |
| 21807G0136/00Z000 | Brussels | 185 m² | 1 · 117 m² | 27.7 m · 6 fl. |
| 25110A0240/00_000 | Wallonia | 162 m² | 1 · 146 m² | 12.4 m · 3 fl. |
| 62803A1134/00E000 | Wallonia | 146 m² | 1 · 103 m² | 18.2 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 8
9 of 9 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Lebbeke
controls
Cetex SudBE 0560.708.993
Recognitions · licences · registrations
Legal Entity Identifier
699400J5OS5FEXBVGC16
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Of 2,210 companies in sector 47711 we hold annual accounts for 888. 349 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded26-08-2014
Fiscal year end31-12
Activities, NACEBEL 2025
47711Retail sale of women's outerwear
47120Other non-specialised retail sale
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.