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CETRACO

Active
Public limited companyfounded 197650 years activeD'Herbouvillekaai 42, 2020 Antwerpen, BelgiumKBO/BCE: BE 0416.594.016
Summary

CETRACO has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.3m and a net result of -€136,044. Equity is shrinking by about 13% per year across the filed fiscal years. Its solvency ranks better than 80% of 1,150 sector peers (NACE 82, fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).

Overview

Activity
Office administrative and support services
NACE 82100Logistics services NACE 52250
1 site
Size
€8.2mturnover 2025
Staff
44.9 FTE
Equity
€10.3m
Loss
-€136,044
Financial health
81 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.5%
Structure
Parent
HERFURTH & CO · 99.99%
Holdings
10
  • Herfurth Shipbrokers BVDirector · permanent representative V. Maldague
  • NJ Company bvDirector · permanent representative O. d'Hoop
Accounts filed 3 days late1 of 20 deeds read
Why 81raises risk1 change of registered office in 24 monthsLiquidity: current ratio 2.99, cash €6,345Latest accounts 3 days late; 1 of the last 3 latelowers riskSize: turnover €8.2m, 44.9 FTE, total assets €12.8mShow the evidence

Checked score

Score 2025
81 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 44% of its sector peers (NACE 82, small)
Financial strength · tick = 2024
Average
Solvency 100=
equity 81.1% of total assets
Liquidity 45-5
short-term debt 18.3% · cash 0.0%
Profitability 18-4
return on assets -1.1%
Bankruptcy probability, 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%

About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (1,116 companies)
Last 24 months 11-2024: 0.3% 12-2024: 0.3%● unchanged vs 11-2024 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025lowest value 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.6%▲ +0.3 percentage points vs 03-2025 05-2025: 0.6%● unchanged vs 04-2025 06-2025: 0.6%● unchanged vs 05-2025 07-2025: 0.6%● unchanged vs 06-2025 08-2025: 0.5%▼ -0.1 percentage points vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 0.6%▲ +0.1 percentage points vs 07-2026highest value 09-2026: 0.5%▼ -0.1 percentage points vs 08-2026 10-2026: 0.5%● unchanged vs 09-2026
Credit up to €800,000 at 30 days acceptable
Liquidity ample (current ratio 2.99 against 4.21 in 2024; short-term debt: 18.3% and cash: 0% of total assets), and 18.9% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 82, small): better than 89% on solvency, 35% on liquidity, 9% on profitability and 44% on growth.

The bankruptcy probability was computed on 08-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
−lowers risk+raises risk○neutral
raises risk · 1 change of registered office in 24 months
Belgian State Gazette
raises risk · Liquidity: current ratio 2.99, cash €6,345
NBB · annual accounts
lowers risk · Size: turnover €8.2m, 44.9 FTE, total assets €12.8m
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
raises risk · Latest accounts 3 days late; 1 of the last 3 late
NBB · filings
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 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 filings
Deviation from the deadline
2025
3 days late
2024
15 days early
2023
61 days late
2022
8 days late
2021
31 days early
2020
33 days early
2019
27 days late
← 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 3 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.

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. Usually files around 3 August (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven months
Position in the running window
09-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Reappointments: Herfurth Shipbrokers BV (director) and…State Gazette act
  2. Annual accounts filedfiscal year 2025 · full…
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Caution: From profit to loss in 2025after €479,754 in 2024 -€136,044 View
  • Caution: Among the weakest 11% on net resultsector median €47,986 · 1,151 companies -€136,044 View
  • Controlled by HERFURTH & COitself parent of 7 companies 99.99% View
  • Positive: 3 years of growth in a rowturnover 2025: €8.2m 3 years View
  • Active since 1976founded 24-06-1976 50 years View

By topic

Financials

Fiscal year
2025
Turnover
€8.2m
Loss
-€136,044
Solvency
81.1%
Turnover▲ 6.1%
Net result
20182025
Go to Financials

Board & ownership

Board
2 members
Parent
HERFURTH & CO · 99.99%
  • Herfurth Shipbrokers BVDirector
  • NJ Company bvDirector
Go to Board & ownership

Timeline

Events
15
Since
2017
Next accounts
by 31-07-2027
  1. 31-12-2024Liquidity triples
  2. 30-09-2024Annual accounts filed
  3. 31-12-2023Back to profit
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Office administrative and support servicesNACE 82100
Founded
24-06-1976
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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