CGEM
ActiveSummary
CGEM has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €578,668 and a net result of €134,390. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 54% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+3
Solvency85▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity short (current ratio 0.55 against 1.18 in 2024; short-term debt: 40.1% and cash: 18.5% of total assets), and 40.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
59.9%
Return on assets
13.9%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 08-10-2025, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
on the day
2023
on the day
2022
on the day
2021
2 d late
2020
1 d early
2019
on the day
← 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 before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€223,968
EBIT margin
20.3%
Net result
€134,390▲ 45.8%
2024 · €92,143
Working capital
-€175,128
2024 · €28,006
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€223,968
Operating result€45,532▲ 181%€66,086▲ 45.1%€72,089▲ 9.1%€134,422▲ 86.5%€200,817▲ 49.4%
Net result€28,029▲ 231%€42,932▲ 53.2%€48,054▲ 11.9%€92,143▲ 91.8%€134,390▲ 45.8%
EBIT margin20.3%
Equity€261,150▲ 12.0%€304,082▲ 16.4%€352,136▲ 15.8%€444,279▲ 26.2%€578,668▲ 30.2%
Total assets€475,857▲ 2.5%€648,457▲ 36.3%€702,393▲ 8.3%€799,718▲ 13.9%€966,535▲ 20.9%
Debt€214,707▼ 7.2%€344,375▲ 60.4%€350,257▲ 1.7%€355,439▲ 1.5%€387,867▲ 9.1%
Working capital€219,862▲ 27.6%-€83,259-€25,113▲ 69.8%€28,006-€175,128
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 49% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €966,535
Fixed assets
€753,796 ▲ 22.3%
Current assets
€212,739 ▲ 16.0%
Equity and liabilities €966,535
Equity
€578,668 ▲ 30.2%
Debt
€387,867 ▲ 9.1%
Debt's share of the balance-sheet total falls from 44.4% to 40.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€263,103▲
2024 · €175,337
Cash flow
€196,676▲
2024 · €133,058
Current ratio
0.55▼
2024 · 1.18
Debt to equity
0.67▼
2024 · 0.80
ROE
23.2%▲
2024 · 20.7%
ROA
13.9%▲
2024 · 11.5%
Interest coverage
71.39▲
2024 · 47.43
Debt ≤ 1 year
€387,867▲
2024 · €155,439
Income taxes
€64,559▲
2024 · €38,650
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,792 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €223,968 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,944 | €28,553 | €36,878 | €40,915 | €62,286 | ▲ 52.2% |
| Other operating charges640/8 | - | €46,069 | €3,515 | €3,841 | €3,993 | ▲ 4.0% |
| Gross operating margin9900 | €71,781 | €140,708 | €112,482 | €179,178 | €267,097 | ▲ 49.1% |
| Operating profit (loss)9901 | €45,532 | €66,086 | €72,089 | €134,422 | €200,817 | ▲ 49.4% |
| Financial income75/76B | - | €1 | €0 | €68 | €1,817 | ▲ 2,590% |
| Recurring financial income75 | €0 | €1 | €0 | €68 | €1,817 | ▲ 2,590% |
| Financial charges65/66B | - | €3,685 | €3,685 | €3,697 | €3,685 | ▼ 0.3% |
| Recurring financial charges65 | €57 | €3,685 | €3,685 | €3,697 | €3,685 | ▼ 0.3% |
| Profit (loss) for the period before taxes9903 | €41,774 | €62,402 | €68,404 | €130,793 | €198,949 | ▲ 52.1% |
| Income taxes67/77 | €13,744 | €19,470 | €20,350 | €38,650 | €64,559 | ▲ 67.0% |
| Profit (loss) for the period9904 | €28,029 | €42,932 | €48,054 | €92,143 | €134,390 | ▲ 45.8% |
| Profit (loss) for the period to be appropriated9905 | €28,029 | €42,932 | €48,054 | €92,143 | €134,390 | ▲ 45.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €475,857 | €648,457 | €702,393 | €799,718 | €966,535 | ▲ 20.9% |
| Fixed assets21/28 | €241,288 | €587,341 | €577,248 | €616,273 | €753,796 | ▲ 22.3% |
| Tangible fixed assets22/27 | €241,288 | €587,341 | €577,248 | €616,273 | €753,796 | ▲ 22.3% |
| Land and buildings22 | - | €498,391 | €483,793 | €469,330 | €588,362 | ▲ 25.4% |
| Plant, machinery and equipment23 | - | €84,182 | €87,608 | €110,861 | €133,125 | ▲ 20.1% |
| Furniture and vehicles24 | - | €4,768 | €5,847 | €36,082 | €32,310 | ▼ 10.5% |
| Current assets29/58 | €234,569 | €61,116 | €125,145 | €183,445 | €212,739 | ▲ 16.0% |
| Amounts receivable within one year40/41 | €21,937 | €32,937 | €77,510 | €79,557 | €32,075 | ▼ 59.7% |
| Trade receivables40 | - | €32,114 | €55,766 | €66,992 | €32,055 | ▼ 52.2% |
| Other amounts receivable41 | - | €823 | €21,744 | €12,565 | €20 | ▼ 99.8% |
| Cash at bank and in hand54/58 | €211,957 | €13,687 | €46,671 | €102,171 | €178,858 | ▲ 75.1% |
| Deferred charges and accrued income490/1 | - | €14,492 | €963 | €1,718 | €1,806 | ▲ 5.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €475,857 | €648,457 | €702,393 | €799,718 | €966,535 | ▲ 20.9% |
| Equity10/15 | €261,150 | €304,082 | €352,136 | €444,279 | €578,668 | ▲ 30.2% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €242,550 | €285,482 | €333,536 | €425,679 | €560,068 | ▲ 31.6% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €283,622 | €331,676 | €423,819 | €558,208 | ▲ 31.7% |
| Amounts payable17/49 | €214,707 | €344,375 | €350,257 | €355,439 | €387,867 | ▲ 9.1% |
| Amounts payable after more than one year17 | €200,000 | €200,000 | €200,000 | €200,000 | - | - |
| Other amounts payable178/9 | - | €200,000 | €200,000 | €200,000 | - | - |
| Amounts payable within one year42/48 | €14,707 | €144,375 | €150,257 | €155,439 | €387,867 | ▲ 150% |
| Trade debts44 | €627 | €6,219 | €6,231 | €44,638 | €12,314 | ▼ 72.4% |
| Suppliers440/4 | - | €6,219 | €6,231 | €44,638 | €12,314 | ▼ 72.4% |
| Taxes, remuneration and social security45 | - | €14,454 | €10,222 | €19,653 | €44,978 | ▲ 129% |
| Taxes450/3 | - | €14,454 | €10,222 | €19,653 | €44,978 | ▲ 129% |
| Other amounts payable47/48 | - | €123,701 | €133,805 | €91,147 | €330,574 | ▲ 263% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,029 | €42,932 | €48,054 | €92,143 | €134,390 | ▲ 45.8% |
| + Depreciation and write-downs630 | €22,944 | €28,553 | €36,878 | €40,915 | €62,286 | ▲ 52.2% |
| Operating cash flow (approximation) | €50,973 | €71,485 | €84,932 | €133,058 | €196,676 | ▲ 47.8% |
| Investment in fixed assets (approximation) | - | -€374,606 | -€26,786 | -€79,939 | -€199,810 | ▼ 150% |
| Change in cash | - | -€198,270 | €32,984 | €55,500 | €76,687 | ▲ 38.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Highest result since 2019net €134,390 ▲45.8%
Operating result €200,817, net result €134,390, both a record.
31-03
Financial
Equity above €500,000Eq €578,668 ▲30.2%
7 profitable years in a row build equity to €578,668.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
31-03
Financial
Liquidity doublescurrent ratio 15.95
Current ratio from 6.50 to 15.95; short-term debt falls from €31,332 to €14,707.
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Weakest financial yearnet €8,478 ▼86.9%
Net result drops to €8,478, the lowest in the series; recovery starts the following year.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
27-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
28-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Charleroi · 1 establishment unit since 2010
Ground area
475 m²
Building footprint
93 m²
Volume, LiDAR
1,036 m³
Parcel 52050A0227/00M005, Wallonia · tallest building 13.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CGEM
since 20102.194.129.508
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52050A0227/00M005 | Wallonia | 475 m² | 1 · 92 m² | 13.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
NED FIN BVBA
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ORBING
BE 0860.037.533
Leuven · Eq €578,643
SOHO
BE 0471.479.584
Antwerpen · Eq €578,709
QUARTO
BE 0454.166.074
Sprimont · Eq €578,741
COMPRO BELGIUM
BE 0473.573.992
Hoegaarden · Eq €578,583
Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 33,434 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-12-2010
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0831819639
Also
9925:BE0831819639
Registered
21-11-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.