cf2
ActiveSummary
cf2 has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of -€78,089. Equity has been growing by about 12% per year since 2019. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-02-2019 Normal situation
- Registered office
- 12 active companies are registered at this address Source: KBO register, as of 2 November 2026.
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.287.907.821 3660 Oudsbergen, since 02-04-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Board and ownership
Shareholders
- Vaessen Ben75%annual accounts 2021
- Vandebroek Kurt25%annual accounts 2021
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- -€48,031
- ▼ 451%
- Loss
- €78,089
- ▼ 68.4%
- Equity
- €1.2m
- ▼ 6.0%
- Total assets
- €1.5m
- ▲ 5.6%
- 2025 accounts filed 31 days after the deadline
Net result +68%: other schema
Score breakdownraises riskLast filed accounts filed 31 days late; 1 of the last 3 accounts lateLoss of €78,089, the second in a row (financial year 2025)lowers riskSize: total assets €1.5mNo main activity registeredShow the evidence
Checked score
Score 2025
86
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 38% of micro companies without a NACE code
Financial strength · tick: 2024
Average
Solvency
100=
equity 81.7% of total assets
Liquidity
48-10
short-term debt 18.3% · cash 2.6%
Profitability
12+12
return on assets -5.2%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025lowest value
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.2%▲ +0.1 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.4%▲ +0.2 percentage points vs 07-2026highest value
09-2026: 0.3%▼ -0.1 percentage points vs 08-2026
10-2026: 0.2%▼ -0.1 percentage points vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.64 (2.46 in 2024), below 1. Short-term debt is 18.3% and cash 2.6% of total assets. 18.3% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 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 (no NACE code, micro). It does better than 81% of them on solvency, 31% on liquidity, 13% on profitability and 29% on growth.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€78,089
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filingsDeviation from the deadline
2025
31 days late
2024
28 days late
2023
30 days late
2022
18 days early
2021
19 days early
2020
15 days early
2019
17 days early
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 3 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (4 of the last 5 accounts filed within 46 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00476893.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 7 filings
Amounts without an identifiable currency are taken as euros.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€78,089▲ 68.4%
2024 · -€247,503
Working capital
-€97,609
2024 · €171,497
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a loss of €57,566, larger than the loss of €14,047 in 2024.
Operating result-€0.06m
2025
Net result-€0.08m
2025
Total assets€1.5m
2025
Equity€1.2m
2025
Debt€0.3m
2025
Working capital-€0.1m
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.05m--€0.07m▼ 43.2%-€0.2m▼ 220%-€0.06m▲ 75.4%-€0.02m▲ 73.0%-€0.01m▲ 10.7%-€0.06m▼ 310%
Net result-€0.05m--€0.07m▼ 39.3%-€0.2m▼ 234%-€0.3m▼ 6.7%-€0.1m▲ 51.6%-€0.2m▼ 103%-€0.08m▲ 68.4%
Equity€0.2m-€0.9m▲ 341%€1.2m▲ 41.5%€1.5m▲ 17.6%€1.5m▲ 6.0%€1.3m▼ 16.0%€1.2m▼ 6.0%
Total assets€0.2m-€0.9m▲ 314%€1.3m▲ 36.9%€1.6m▲ 22.4%€1.6m▼ 2.1%€1.4m▼ 8.6%€1.5m▲ 5.6%
Debt€0.03m-€0.07m▲ 130%€0.05m▼ 22.9%€0.1m▲ 138%€0.003m▼ 97.6%€0.1m▲ 39×€0.3m▲ 135%
Working capital€0.03m-€0.3m▲ 657%€0.4m▲ 47.4%€0.3m▼ 33.8%€0.4m▲ 54.1%€0.2m▼ 56.7%-€0.1m
Large changes and their cause
- 2025 Net result +68% on 2024. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.3m ▲ 17.3%
Current assets
€177,179 ▼ 38.6%
Equity and liabilities €1.5m
Equity
€1.2m ▼ 6.0%
Debt
€274,788 ▲ 135%
Debt's share of the balance-sheet total rises from 8.2% to 18.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€54,235▼
2024 · -€9,753
Cash flow
-€74,758▲
2024 · -€243,210
Current ratio
0.64▼
2024 · 2.46
Debt to equity
0.22▲
2024 · 0.09
ROE
-6.4%▲
2024 · -19.0%
ROA
-5.2%▲
2024 · -17.4%
Interest coverage
-2.58▲
2024 · -15.42
Debt ≤ 1 year
€274,788▲
2024 · €117,069
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | €233,684 | €505,450 | €51,413 | €214,909 | €194,347 |
| Depreciation and write-downs of the year | €4,478 | €6,607 | €6,942 | €4,294 | €3,331 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €63,421 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,648 | €3,612 | €4,478 | €6,607 | €6,942 | €4,294 | €3,331 | ▼ 22.4% |
| Other operating charges640/8 | - | - | €410 | €930 | €1,022 | €1,030 | €6,204 | ▲ 503% |
| Gross operating margin9900 | -€48,679 | -€69,975 | -€232,022 | -€50,769 | -€7,758 | -€8,724 | -€48,031 | ▼ 451% |
| Operating profit (loss)9901 | -€51,675 | -€73,996 | -€236,909 | -€58,305 | -€15,723 | -€14,047 | -€57,566 | ▼ 310% |
| Financial income75/76B | - | - | €5,897 | €24,222 | €5,041 | €673 | €479 | ▼ 28.8% |
| Recurring financial income75 | €1,264 | €4,027 | €5,897 | €24,222 | €5,041 | €673 | €479 | ▼ 28.8% |
| Financial charges65/66B | - | - | €4,635 | €217,410 | €111,002 | €234,129 | €21,002 | ▼ 91.0% |
| Recurring financial charges65 | €319 | €687 | €4,635 | €161,144 | €15,714 | €633 | €21,002 | ▲ 33× |
| Non-recurring financial charges66B | - | - | - | €56,266 | €95,288 | €233,497 | - | - |
| Profit (loss) for the period before taxes9903 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,684 | -€247,503 | -€78,089 | ▲ 68.4% |
| Income taxes67/77 | €0 | €0 | - | - | €28 | - | - | - |
| Profit (loss) for the period9904 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,712 | -€247,503 | -€78,089 | ▲ 68.4% |
| Profit (loss) for the period to be appropriated9905 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,712 | -€247,503 | -€78,089 | ▲ 68.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.2m | €0.9m | €1.3m | €1.6m | €1.6m | €1.4m | €1.5m | ▲ 5.6% |
| Formation expenses20 | €0.01m | €0.02m | €0.02m | €0.02m | €0.01m | €0.006m | €0.003m | ▼ 54.3% |
| Fixed assets21/28 | €0.2m | €0.6m | €0.8m | €1.2m | €1.1m | €1.1m | €1.3m | ▲ 17.3% |
| Intangible fixed assets21 | €0 | €0 | - | - | - | - | - | - |
| Financial fixed assets28 | €0.2m | €0.6m | €0.8m | €1.2m | €1.1m | €1.1m | €1.3m | ▲ 17.3% |
| Current assets29/58 | €0.06m | €0.3m | €0.4m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 38.6% |
| Amounts receivable after more than one year29 | - | - | €0.1m | €0.08m | - | - | - | - |
| Trade receivables290 | - | - | €0.1m | €0.08m | - | - | - | - |
| Stocks and contracts in progress3 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.001m | €0.004m | €0.04m | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 30.9% |
| Trade receivables40 | - | - | €0.03m | €0.03m | €0.1m | €0.04m | €0.01m | ▼ 73.4% |
| Other amounts receivable41 | - | - | €0.003m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 20.6% |
| Current investments50/53 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.01m | €0.2m | €0.3m | €0.04m | €0.1m | €0.09m | €0.04m | ▼ 56.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.005m | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.2m | €0.9m | €1.3m | €1.6m | €1.6m | €1.4m | €1.5m | ▲ 5.6% |
| Equity10/15 | €0.2m | €0.9m | €1.2m | €1.5m | €1.5m | €1.3m | €1.2m | ▼ 6.0% |
| Contributions10/11 | €0.3m | €1.0m | €1.6m | €2.1m | €2.3m | €2.3m | €2.3m | = |
| Capital10 | - | - | €1.6m | €2.1m | €2.3m | €2.3m | €2.3m | = |
| Issued capital100 | - | - | €2.0m | €2.3m | €2.3m | €2.3m | €2.3m | = |
| Uncalled capital101 | - | - | €0.4m | €0.2m | - | - | - | - |
| Profit (loss) carried forward14 | -€0.05m | -€0.1m | -€0.4m | -€0.6m | -€0.7m | -€1.0m | -€1.1m | ▼ 8.0% |
| Amounts payable17/49 | €0.03m | €0.07m | €0.05m | €0.1m | €0.003m | €0.1m | €0.3m | ▲ 135% |
| Amounts payable within one year42/48 | €0.03m | €0.07m | €0.05m | €0.1m | €0.003m | €0.1m | €0.3m | ▲ 135% |
| Trade debts44 | €0.03m | €0.002m | €0.03m | €0.07m | - | €0.004m | €0.01m | ▲ 269% |
| Suppliers440/4 | - | - | €0.03m | €0.07m | - | €0.004m | €0.01m | ▲ 269% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €0.03m | - |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €0.004m | - |
| Taxes450/3 | - | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | €0.02m | €0.06m | €0.003m | €0.1m | €0.2m | ▲ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€50,730 | -€70,655 | -€235,646 | -€251,493 | -€121,712 | -€247,503 | -€78,089 | ▲ 68.4% |
| + Depreciation and write-downs630 | €2,648 | €3,612 | €4,478 | €6,607 | €6,942 | €4,294 | €3,331 | ▼ 22.4% |
| Operating cash flow (approximation) | -€48,081 | -€67,044 | -€231,168 | -€244,887 | -€114,770 | -€243,210 | -€74,758 | ▲ 69.3% |
| Investment in fixed assets (approximation) | - | -€451,573 | -€238,162 | -€360,790 | €36,933 | €14,294 | -€197,678 | - |
| Change in cash | - | €204,987 | €64,497 | -€243,748 | €70,114 | -€19,810 | -€49,644 | ▼ 151% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00476893 | |
| 31-12-2024 | abbreviated format | 28-08-2025 | 2025-00425993 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00417652 | |
| 31-12-2022 | abbreviated format | 13-07-2023 | 2023-00233028 | |
| 31-12-2021 | abbreviated format | 12-07-2022 | 2022-20174889 | |
| 31-12-2020 | abbreviated format | 16-07-2021 | 2021-37300012 | |
| 31-12-2019 | abbreviated format | 14-07-2020 | 2020-30400399 |
Board & ownership
Directors
Directors
Owners and capital
Shareholders
2 ownersOwners 2
- Vaessen Bennatural personSourceown accounts 202175%
- Vandebroek Kurtnatural personSourceown accounts 202125%
Capital transactions
Shareholders according to the deeds
After the capital increase
act of 28-11-2022 ↗
- VAESSEN Ben Eugène Jos 210,000 shares · €52,500 in cash
- VANDEBROEK Kurt 70,000 shares · €17,500 in cash
Capital over time
- 28-11-2022 Capital increase of €280,000 · to €2,280,000 · 280,000 new shares at €1 per share · in cash
Network & group
Companies at the same address
11 other companies- Tattenejum Registered office · since 2025 1025146379
- Tattenejum Registered office · since 2022 0789443606
- ALU COINVEST Registered office · since 2021 0779319774
- ZENZYVILLE Registered office · since 2021 0771427241
- PROJECT STADSGRAAF Registered office · since 2021 0759999651
- Q-LANA EUROPE Registered office · since 2021 0759596310
- VI SOLAR INVEST Registered office · since 2010 0829017527
- BABECO Registered office · since 1994 0445728163
- OMMERSTEIN Establishment · since 1992 0446657680
- KREON Registered office · since 1986 0422344235
Connections & network
See the function holders in the KBO register.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-08
full format · 31 days late
2025
28-08
abbreviated format · 28 days late
2024
30-08
abbreviated format · 30 days late
2023
31-12
Financial
Liquidity more than 43 timescurrent ratio 133.59
The current ratio rises from 3.07 to 133.59. Short-term debt falls from €124,448 to €2,988.
13-07
abbreviated format · 18 days before the deadline
2022
31-12
Financial
Weakest financial yearnet -€251,493
The net result drops to -€251,493, the lowest from 2019 to 2025. It recovers the following year.
28-11
Gazette deed
Capital increase of €280,000 to €2,280,000Bank account · Director discharge · Amendment of the articles12 points ▸
Gazette deed
Capital increase of €280,000 to €2,280,000
Bank account · Director discharge · Amendment of the articles12 points ▸
- General meeting, 24-11-2022
- Other provision, “afstand verslagen bij inbreng in geld, verslag raad van bestuur en verslag bedrijfsrevisor zoals voorzien in paragraaf 1 van artikel 7:179” (deed in Dutch)
- Capital increase, €280,000
- Capital contribution, €52,500
- Capital contribution, €17,500
- Bank account, “[*], [*]” (deed in Dutch)
- Other provision, “vaststelling gedeeltelijke volstorting kapitaalverhoging”, 280000 (deed in Dutch)
- Capital, €2,280,000
- Director discharge, raad van bestuur
- Amendment of the articles, 5
- Power of attorney
- Power of attorney, Herbert HOUBEN
12-07
abbreviated format · 19 days before the deadline
2021
31-12
Financial
Equity above €1mequity €1.2m ▲41.5%
Equity rises from €878,615 to €1.2m.
16-07
abbreviated format · 15 days before the deadline
2020
31-12
Financial
Liquidity more than doubledcurrent ratio 4.89
The current ratio rises from 2.18 to 4.89.
31-12
Financial
Equity above €500,000equity €878,615 ▲341%
Equity rises from €199,270 to €878,615.
14-07
abbreviated format · 17 days before the deadline
2019
11-02
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
cf2 in Dutch
Enterprise number
0719.971.513
Legal form
Public limited company
Status
Active, normale toestand
Founded
07-02-2019
Entity type
Legal entity
Registered office and establishments
Registered office
Industrieweg-Noord 1152, 3660 Oudsbergen, Belgium
Establishment unit
cf2, Industrieweg-Noord 1152, 3660 Oudsbergen since 02-04-2019 · unit number 2.287.907.82164210 Activities of holding companies
E-mail
andre.bomans@vaessenindustries.com
Phone
089 51 96 49
Invoicing and payment
VAT number
BE 0719.971.513
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
1.7 ha
Building footprint
8,655 m²
Building volume
40,829 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71562B0905/00L006 | Flanders | 1.7 ha | 1 · 8,655 m² | 8.5 m · 2 |