CEZAR CONSTRUCTION · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of CEZAR CONSTRUCTION is 0.8% (low). The 2025 annual accounts show equity of €37k and a net result of €4k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 62% of 2905 sector peers (fiscal year 2025). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 8 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 30-09. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-09-2025, that is 30-04-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-09-2025	30-04-2026	27-04-2026	3 d early	2026-00088808
30-09-2024	30-04-2025	05-05-2025	5 d late	2025-00093134
30-09-2023	30-04-2024	30-04-2024	on the day	2024-00079205
30-09-2022	30-04-2023	02-05-2023	2 d late	2023-00080174
30-09-2021	30-04-2022	30-04-2022	on the day	2022-20018113
30-09-2020	30-04-2021	27-07-2021	88 d late	2021-41800355
30-09-2019	30-04-2020	06-05-2020	6 d late	2020-11700496
30-09-2018	30-04-2019	29-03-2019	32 d early	2019-08900388
30-09-2017	30-04-2018	03-04-2018	27 d early	2018-09400353
30-09-2014	30-04-2015	31-03-2015	30 d early	2015-08800491

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2007, 18 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.8% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Long track record −Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€4k-87.2%

Working capital€36k-10.7%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 27-04-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~117% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	53.0%	43.4%	better than 62% of 2905 sector peers
Net result	€4k	€13k	better than 28% of 2904 sector peers
Equity	€37k	€44k	better than 44% of 2905 sector peers
Gross operating margin	€19k	€39k	better than 29% of 2902 sector peers
Total assets	€70k	€115k	better than 30% of 2905 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P62

Stable position over 2020-2025 · n=1740-11120

Net result P28

Improving position over 2020-2025 · n=1734-11103

Equity P44

Improving position over 2020-2025 · n=1743-11124

Gross operating margin P29

Improving position over 2020-2025 · n=1732-11092

Describes the position versus peers, not a forecast.

EBITDA

€18k

-62.0% 18-25

Net profit

€4k

-87.2% 18-25

Cash flow

€14k

-64.5% 18-25

Total assets

€70k

-66.8% 18-25

Equity

€37k

+10.5% 18-25

Working capital

€36k

-10.7% 18-25

Income taxes

€1k

-81.9% 18-25

Debt

€33k

-81.5% 18-25

Show 9 other metrics

Debt ≤ 1y

€31k

-80.5% 18-25

Debt > 1y

€2k

-89.1% 18-25

Current ratio

2.18

+73.3% 18-25

Quick ratio

0.89

-29.6% 18-25

Solvency

53.0%

+233.1% 18-25

Debt / equity

0.89

-83.2% 18-25

ROE

9.5%

-88.4% 18-25

ROA

5.0%

-61.4% 18-25

Interest coverage

4.84

-63.3% 18-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€18k
Net profit	€4k
Cash flow	€14k
Staff costs	-
Income taxes	€1k
Dividends	-
Total assets	€70k
Equity	€37k
Debt	€33k
of which ≤ 1y	€31k
of which > 1y	€2k
Working capital	€36k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	2.18
Quick ratio	0.89
Working capital ratio	51.7%
Solvency	53.0%
Debt / equity	0.89
Long-term debt ratio	0.06
Interest coverage	4.84
Gross margin	-
Net margin	-
ROA	5.0%
ROE	9.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €3k · 4.4% Current assets €67k · 95.6%

Equity & liabilities

Equity €37k · 53.0% Debt €33k · 47.0%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€70k
Fixed assets	21/28	€3k
Tangible fixed assets	22/27	€3k
Current assets	29/58	€67k
Stocks & contracts in progress	3	€40k
Amounts receivable within one year	40/41	€26k
Cash & bank	54/58	€1k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€70k
Equity	10/15	€37k
Contributions / capital	10/11	€6k
Reserves	13	€11k
Accumulated profits (losses)	14	€20k
Amounts payable	17/49	€33k
Amounts payable after one year	17	€2k
Amounts payable within one year	42/48	€31k
Trade debts payable within one year	44	€3k
Income statement
Gross operating margin	9900	€19k
Operating result	9901	€8k
Financial income	75	€128
Financial charges	65	€4k
Result before taxes	9903	€5k
Income taxes	67/77	€1k
Net result for the period	9904	€4k
Result to be appropriated	9905	€4k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

81 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Jan De Trochstraat 481703 Dilbeek

Establishment units

1 location

Cezar Construction

Hogenbosstraat 3, 1082 Sint-Agatha-Berchemaanleggen en onderhouden van tuinen, parken en het groene gedeelte van sportvelden.

since 20072.167.889.028

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area1,422 m²

Buildings2

Building footprint196 m²

Volume (LiDAR)1,311 m³

Tallest building10.4 m · ±3 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23070C0281/00L000	Flanders	1,348 m²	1 · 138 m²	8.2 m · 2 fl.
21342B0022/00D002	Brussels	74 m²	1 · 58 m²	10.3 m · 3 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 6 acts read

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.