CF-SYSTEM (0546.854.920), Inactive: financials and annual accounts

CF-SYSTEM

KBO/BCE: BE 0546.854.920

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Balance sheet: assets
Total assets`20/58`	446,706	393,599	362,777	320,215	522,609	437,572	151,789	245,524	350,563	386,144	576,120
Fixed assets`21/28`	-	-	-	-	-	825	121,439	220,837	278,933	368,506	451,545
Intangible fixed assets`21`	-	-	-	-	-	-	119,789	220,837	278,933	363,591	441,715
Tangible fixed assets`22/27`	-	-	-	-	-	825	1,650	-	-	4,915	9,830
Furniture and vehicles`24`	-	-	-	-	-	-	-	-	-	4,915	9,830
Other tangible fixed assets`26`	-	-	-	-	-	825	1,650	-	-	-	-
Current assets`29/58`	446,706	393,599	362,777	320,215	522,609	436,747	30,349	24,687	71,630	17,639	124,575
Stocks and contracts in progress`3`	481	22,978	25,215	20,014	22,050	9,760	-	-	-	2,590	10,990
Stocks`30/36`	481	22,978	25,215	20,014	22,050	9,760	-	-	-	2,590	10,990
Amounts receivable within one year`40/41`	358,085	319,368	281,325	178,988	340,041	163,781	835	2,257	4,790	5,208	40,683
Trade receivables`40`	69,134	32,108	2,039	3,267	112,587	134,650	-	1,403	1,981	695	27,149
Other amounts receivable`41`	288,951	287,260	279,286	175,721	227,454	29,131	835	855	2,809	4,513	13,534
Cash at bank and in hand`54/58`	88,140	51,253	51,059	114,928	154,234	239,330	5,920	4,607	54,753	3,719	72,902
Deferred charges and accrued income`490/1`	-	0	5,179	6,284	6,284	23,876	23,594	17,823	12,087	6,122	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	446,706	393,599	362,777	320,215	522,609	437,572	151,789	245,524	350,563	386,144	576,120
Equity`10/15`	424,429	390,720	359,424	296,140	410,079	303,261	-436,918	-248,142	-88,111	-81,939	131,137
Contributions`10/11`	201,504	201,504	201,504	201,504	201,504	201,504	201,504	201,504	201,504	18,600	18,600
Capital`10`	201,504	201,504	201,504	201,504	201,504	-	-	-	-	-	-
Issued capital`100`	201,504	201,504	201,504	201,504	201,504	201,504	201,504	201,504	201,504	18,600	18,600
Reserves`13`	222,925	189,216	157,920	20,150	20,150	20,150	-	-	-	-	-
Non-distributable reserves`130/1`	20,150	20,150	20,150	20,150	20,150	20,150	-	-	-	-	-
Legal reserve`130`	20,150	20,150	20,150	20,150	20,150	20,150	-	-	-	-	-
Distributable reserves`133`	202,775	169,066	137,770	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-	-	0	74,486	188,425	81,606	-678,063	-528,929	-408,539	-259,103	-37,463
Investment grants`15`	-	-	-	-	-	-	39,641	79,282	118,924	158,565	150,000
Amounts payable`17/49`	22,277	2,879	3,353	24,074	112,530	134,312	588,706	493,666	438,674	468,083	444,983
Amounts payable after more than one year`17`	-	-	-	-	-	-	346,255	329,516	314,050	169,444	252,778
Financial debts`170/4`	-	-	-	-	-	-	346,255	329,516	314,050	169,444	252,778
Amounts payable within one year`42/48`	22,277	2,879	3,353	24,074	112,530	134,312	242,451	164,150	124,624	298,639	192,206
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	-	69,444	104,167	83,333
Financial debts`43`	-	-	-	-	-	-	220,000	115,500	-	-	-
Credit institutions`430/8`	-	-	-	-	-	-	220,000	115,500	-	-	-
Trade debts`44`	8,697	2,879	3,304	23,205	112,530	132,684	16,040	42,379	48,425	49,123	108,153
Suppliers`440/4`	8,697	2,879	3,304	23,205	112,530	132,684	16,040	42,379	48,425	49,123	108,153
Taxes, remuneration and social security`45`	13,580	0	49	869	-	1,628	6,412	6,271	6,754	43,725	719
Taxes`450/3`	13,580	0	49	869	-	-	-	-	-	12,872	-
Remuneration and social security`454/9`	-	-	-	-	-	1,628	6,412	6,271	6,754	30,853	719
Other amounts payable`47/48`	-	-	-	-	-	-	-	-	-	101,624	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	350,950	-	-	-	-	-	-
Gross operating margin`9900`	50,923	34,224	62,723	-118,789	94,872	905,505	-6,434	13,003	-28,598	-58,231	-11,826
Remuneration, social security and pensions`62`	-	-	-	-	-	7,702	53,494	51,805	55,501	99,866	6,378
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	-	-	-	-	825	101,873	101,873	101,048	97,373	95,813	4,915
Other operating charges`640/8`	4,314	2,403	493	455	449	348	348	348	348	348	695
Non-recurring operating charges`66A`	-	-	-	-	-	18,741	-	-	-	-	-
Operating profit (loss)`9901`	46,609	31,821	62,229	-119,244	93,598	776,842	-162,149	-140,197	-181,819	-254,257	-23,814
Financial income`75/76B`	2,813	2,782	847	5,614	1,168	39,641	39,641	39,668	39,641	39,650	47
Recurring financial income`75`	2,813	2,782	847	5,614	1,168	39,641	39,641	39,668	39,641	39,650	47
Financial charges`65/66B`	2,489	3,307	-207	309	-29,645	36,363	26,271	19,469	6,780	6,821	13,694
Recurring financial charges`65`	2,489	3,307	-207	309	-29,645	36,363	26,271	19,469	6,780	6,821	13,694
Profit (loss) for the period before taxes`9903`	46,933	31,296	63,284	-113,939	124,411	780,120	-148,779	-119,998	-148,958	-221,428	-37,461
Income taxes`67/77`	13,224	-	-	-	17,592	301	356	392	477	213	2
Profit (loss) for the period`9904`	33,709	31,296	63,284	-113,939	106,819	779,820	-149,134	-120,390	-149,435	-221,641	-37,463
Profit (loss) for the period to be appropriated`9905`	33,709	31,296	63,284	-113,939	106,819	779,820	-149,134	-120,390	-149,435	-221,641	-37,463
Appropriation of the result
Profit (loss) to be appropriated`9906`	33,709	31,296	137,770	74,486	188,425	101,757	-678,063	-528,929	-408,539	-259,103	-37,463
Profit (loss) brought forward from the previous period`14P`	-	0	74,486	188,425	81,606	-	-	-	-	-	-
Transfer to equity`691/2`	33,709	31,296	137,770	-	-	20,150	-	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	20,150	-	-	-	-	-
To other reserves`6921`	33,709	31,296	137,770	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	0	0	0	-	-	0.5	0.5	0.5	0.5	1	0.1
Hours worked`1013`	-	-	-	-	-	213	837	825	874	1,707	114
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	26-06-2026	2026-00204272	PDF
31-12-2024	abbreviated format	10-06-2025	2025-00127730	PDF
31-12-2023	abbreviated format	11-07-2024	2024-00233229	PDF
31-12-2022	abbreviated format	08-06-2023	2023-00112806	PDF
31-12-2021	abbreviated format	28-07-2022	2022-20234118	PDF
31-12-2020	abbreviated format	29-07-2021	2021-41500422	PDF
31-12-2019	abbreviated format	08-06-2020	2020-15000085	PDF
31-12-2018	abbreviated format	04-06-2019	2019-15200473	PDF
31-12-2017	abbreviated format	08-06-2018	2018-16500164	PDF
31-12-2016	abbreviated format	20-06-2017	2017-18400379	PDF
31-12-2015	abbreviated format	29-06-2016	2016-23200433	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBITDA	-	-	-	-	94,423	878,715	-60,275	-39,149	-84,446	-158,444	-18,899
Cash flow	-	-	-	-	107,644	881,693	-47,261	-19,342	-52,063	-125,828	-32,548
Investment in fixed assets (approximation)	-	-	-	-	0	-18,741	2,475	42,952	7,800	32,773	456,460
Change in cash	36,887	194	-63,870	-39,306	-85,096	233,410	1,313	-50,146	51,034	-69,184	-
Working capital	424,429	390,720	359,424	296,140	410,079	302,435	-212,102	-139,463	-52,994	-281,000	-67,630
Solvency	95.0%	99.3%	99.1%	92.5%	78.5%	69.3%	-287.8%	-101.1%	-25.1%	-21.2%	22.8%
Current ratio	20.05	-	-	13.30	4.64	3.25	0.13	0.15	0.57	0.06	0.65
Quick ratio	20.03	-	-	12.47	4.45	3.18	0.13	0.15	0.57	0.05	0.59
Debt to equity	0.05	0.01	0.01	0.08	0.27	0.44	-	-	-	-	3.39
ROE	7.9%	8.0%	17.6%	-38.5%	26.0%	257.1%	-	-	-	-	-28.6%
ROA	7.5%	8.0%	17.4%	-35.6%	20.4%	178.2%	-98.3%	-49.0%	-42.6%	-57.4%	-6.5%
Interest coverage	-	-	-	-	-3.19	-	-	-	-	-	-

CF-SYSTEM

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE

Filed annual accounts

Filings

Key figures and ratios

Insights on CF-SYSTEM