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CEZAM

Active
Public limited companyfounded 199827 yrs activeRue de la Girafe,Sensenruth 40, 6832 Bouillon, BelgiumKBO/BCE: BE 0464.520.627
Summary

The computed 12-month bankruptcy probability of CEZAM is 7.5% (elevated). The annual accounts of CEZAM for fiscal year 2024 show a net loss of 88% of the equity at the start of that year. The 2024 annual accounts show equity of €254,278 and a net result of -€1.9m. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 7% of 211 sector peers (fiscal year 2024). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
CEZAMActiveChecked score 32/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of rubber and plastic products
NACE 22230NACE 25230NACE 51871
#7 company by total assets in Bouillon1 site
Size
€13.3mturnover 2024
Staff
7.3 FTE
Equity
€254,278
Loss
-€1.9m
Financial health
32 Weak Checked score 2024
Bankruptcy chance 12 m
7.5%
Structure
Parent
LUXOSTIUM GROUP · 100%
Holdings
3
Accounts 64 d overdue0 of 3 deeds read
Why 32- Liquidity: current ratio 0.81, cash €11,675, halved- 1 financial year not filed after the legal deadline; latest accounts 140 days late; 3 of the last 3 late- Loss of €1.9m (FY 2024)- Equity €254,278 (3.3% of total assets)Show the evidence

Checked score

Score 2024
32 / 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 10% of its sector peers (NACE 22, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Weak
Solvency 28-22
equity 3.3% of total assets
Liquidity 0-15
short-term debt 89.9% · cash 0.1%
Profitability 0-59
return on assets -24.8%
Bankruptcy probability, 12 months
7.5% Elevated
0%0.5%1.5%4%10%≥ 25%

About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (355 companies)
Last 24 months 11-2024: 1.0% 12-2024: 1.0%● 0.0% vs 11-2024 01-2025: 1.0%● 0.0% vs 12-2024 02-2025: 1.0%▼ -3.2% vs 01-2025 03-2025: 1.0%▼ -1.0% vs 02-2025lowest value 04-2025: 1.0%● 0.0% vs 03-2025lowest value 05-2025: 1.0%▲ +0.5% vs 04-2025 06-2025: 1.0%▲ +0.4% vs 05-2025 07-2025: 1.1%▲ +17.2% vs 06-2025 08-2025: 1.6%▲ +40.7% vs 07-2025 09-2025: 1.8%▲ +15.5% vs 08-2025 10-2025: 2.4%▲ +32.3% vs 09-2025 11-2025: 2.5%▲ +2.0% vs 10-2025 12-2025: 2.8%▲ +12.3% vs 11-2025 01-2026: 6.9%▲ +150% vs 12-2025 02-2026: 6.9%▼ -1.1% vs 01-2026 03-2026: 6.8%▼ -1.3% vs 02-2026 04-2026: 6.8%● 0.0% vs 03-2026 05-2026: 6.5%▼ -3.8% vs 04-2026 06-2026: 6.6%▲ +1.5% vs 05-2026 07-2026: 6.5%▼ -1.0% vs 06-2026 08-2026: 6.9%▲ +5.4% vs 07-2026 09-2026: 6.8%▼ -0.9% vs 08-2026 10-2026: 7.5%▲ +9.5% vs 09-2026highest value
  • Liquidity: current ratio 0.81, cash €11,675, halved raises the probability
  • 1 financial year not filed after the legal deadline; latest accounts 140 days late; 3 of the last 3 late raises the probability
  • Loss of €1.9m (FY 2024) raises the probability
  • Equity €254,278 (3.3% of total assets) raises the probability
Credit up to €8,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.81 against 1.02 in 2023; short-term debt: 89.9% and cash: 0.1% of total assets), and 96.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 22, micro). Better than this share of them on solvency 16%, liquidity 3%, profitability 7%, growth against the median 14%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Liquidity: current ratio 0.81, cash €11,675, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 financial year not filed after the legal deadline; latest accounts 140 days late; 3 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Loss of €1.9m (FY 2024)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Equity €254,278 (3.3% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 211 sector peers (2024).
NBB · sector comparison
Position among 211 sector peers
Solvency
better than 7%
← weakest strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-12-2025, 140 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
140 d late
2023
69 d late
2022
60 d late
2021
31 d late
2020
19 d late
2019
16 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 51 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 34% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2024 · full…
  2. Weakest financial yearnet -€1.9m
  3. Annual accounts filedfiscal year 2023 · full…

Key points

  • Caution: Equity fell in 2024from €2.2m to €254,278 ▼ 88.4% View
  • Caution: Among the weakest 6% on net resultsector median €213,258 · 211 companies -€1.9m View
  • Caution: Accounts not fileddeadline was 31-07-2026 64 d late View
  • Controlled by LUXOSTIUM GROUPitself parent of 2 companies 100% View

By topic

Financials

Fiscal year
2024
Turnover
€13.3m
Loss
-€1.9m
Solvency
3.3%
Turnover▼ 13.9%
Net result
20182024
Go to Financials

Timeline

Events
15
Since
2017
  1. 18-12-2025Annual accounts filed
  2. 31-12-2024Weakest financial year
  3. 08-10-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of rubber and plastic productsNACE 22230
Founded
13-11-1998
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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