Checked.be
Active
BE 0863.411.153Private limited company
CGK
Baronstraat 89 ·8870 Izegem, Belgium· 22 yrs active
Sector: Business and other management consultancy
(70200)
Conclusion
CGK has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €321k and a net result of €36k. Equity is growing by ~37.1% per year across the filed fiscal years. Its solvency ranks better than 26% of 31061 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €321k |
| Net result | €36k |
| Better than sector | 26% |
| Active | 22 yrs |
Financial profile
62
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
48
Profitability
56
Solvency
28
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2004, 22 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.
Checked score
48
/ 100
Fair
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.
Indicative credit limit
€15k
estimate, not credit advice
Score history
15
2021
56
2022
56
2023
43
2024
48
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.77 (< 1.0)
-10
Leverage
Debt/equity 3.30 (> 3.0)
-10
Profitability
ROE 11% (≥ 10%)
+10
Interest coverage
Interest coverage 7.9× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-02-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~37.1%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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 70, Activities of head offices; management consultancy activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 23.3% | 55.9% | |
| Net result | €36k | €27k | |
| Equity | €321k | €83k | |
| Gross operating margin | €223k | €53k | |
| Total assets | €1.38M | €186k |
€212k
-0.4%
21-25
€36k
-56.6%
21-25
€166k
-0.6%
21-25
€1.38M
-0.9%
21-25
€321k
+12.6%
21-25
€-93k
+33.9%
21-25
€20k
-32.7%
21-25
€1.06M
-4.4%
21-25
€396k
+17.6%
21-25
€658k
-14.1%
21-25
0.77
+31.4%
21-25
0.76
+31.6%
21-25
23.3%
+13.6%
21-25
3.30
-15.1%
21-25
11.2%
-61.4%
21-25
2.6%
-56.2%
21-25
7.92
-36.0%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €212k | €213k | €244k | €91k | €82k |
| Net profit | €36k | €82k | €111k | €37k | €-6k |
| Cash flow | €166k | €167k | €181k | €91k | €45k |
| Staff costs | - | - | - | - | - |
| Income taxes | €20k | €29k | €53k | €886 | €7k |
| Dividends | - | - | - | - | - |
| Total assets | €1.38M | €1.39M | €987k | €905k | €739k |
| Equity | €321k | €285k | €202k | €92k | €54k |
| Debt | €1.06M | €1.11M | €784k | €813k | €684k |
| of which ≤ 1y | €396k | €337k | €361k | €330k | €309k |
| of which > 1y | €658k | €767k | €420k | €483k | €375k |
| Working capital | €-93k | €-141k | €-125k | €-119k | €-155k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.77 | 0.58 | 0.66 | 0.64 | 0.50 |
| Quick ratio | 0.76 | 0.58 | 0.64 | 0.61 | 0.50 |
| Working capital ratio | -6.7% | -10.1% | -12.6% | -13.1% | -20.9% |
| Solvency | 23.3% | 20.5% | 20.5% | 10.1% | 7.4% |
| Debt / equity | 3.30 | 3.89 | 3.87 | 8.87 | 6.88 |
| Long-term debt ratio | 2.05 | 2.69 | 2.07 | 5.27 | 6.88 |
| Interest coverage | 7.92 | 12.37 | 22.53 | 20.13 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 2.6% | 5.9% | 11.2% | 4.1% | -0.7% |
| ROE | 11.2% | 28.9% | 54.7% | 40.5% | -10.1% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.38M | €1.39M | €987k | €905k | €739k |
| Fixed assets | 21/28 | €1.08M | €1.20M | €750k | €693k | €584k |
| Tangible fixed assets | 22/27 | €1.08M | €1.20M | €750k | €693k | €584k |
| Current assets | 29/58 | €303k | €196k | €237k | €212k | €155k |
| Stocks & contracts in progress | 3 | €629 | €623 | €7k | €12k | €2k |
| Amounts receivable within one year | 40/41 | €269k | €156k | €182k | €183k | €117k |
| Cash & bank | 54/58 | €26k | €38k | €46k | €14k | €36k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.38M | €1.39M | €987k | €905k | €739k |
| Equity | 10/15 | €321k | €285k | €202k | €92k | €54k |
| Contributions / capital | 10/11 | €60k | €60k | €60k | €60k | - |
| Reserves | 13 | €230k | €194k | €111k | - | - |
| Accumulated profits (losses) | 14 | €31k | €31k | €31k | €32k | €-6k |
| Amounts payable | 17/49 | €1.06M | €1.11M | €784k | €813k | €684k |
| Amounts payable after one year | 17 | €658k | €767k | €420k | €483k | €375k |
| Amounts payable within one year | 42/48 | €396k | €337k | €361k | €330k | €309k |
| Trade debts payable within one year | 44 | €154k | €93k | €152k | €133k | €124k |
| Income statement | ||||||
| Gross operating margin | 9900 | €223k | €223k | €255k | €100k | €91k |
| Operating result | 9901 | €82k | €128k | €173k | €37k | €31k |
| Financial income | 75 | €663 | €852 | €1k | €3k | €2k |
| Financial charges | 65 | €27k | €17k | €11k | €5k | €4k |
| Result before taxes | 9903 | €56k | €112k | €164k | €38k | €30k |
| Income taxes | 67/77 | €20k | €29k | €53k | €886 | €7k |
| Net result for the period | 9904 | €36k | €82k | €111k | €37k | €22k |
| Result to be appropriated | 9905 | €36k | €82k | €111k | €37k | €22k |
Directors & mandates
Current directors & mandates
-
Geert DepuisDirectorState Gazette act 25301591 (08-01-2025)Current08-01-2025 → present
2 events
- 08-01-2025 Resigned· Director
- 08-01-2025 Appointed· Director
Legal Structure
| NACE primary | Business and other management consultancy(70200) |
| Legal form | Private limited company(610) |
| Incorporation | 13-02-2004 |
| Status | Active |
| Postal code | 8870 |
Establishment units
CGK
since 20042.136.785.680
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36492A0200/00P003 | Flanders | 1,610 m² | 1 · 575 m² | - |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
09-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 9 days late
2025
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
08-01
State Gazette act
Statutes amendment
v3.2
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2021net €111k ▲198%
Operating result €173k, net result €111k, both a record.
30-06
Financial
Equity above €200kEq €202k ▲121%
2 profitable years in a row build equity to €202k.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
09-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
2020
24-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 14 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 1 year ago
2025
08-01-2025 Articles of association amended
Summary:
v3.2
Technical details
{
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"name_change": {
"new": "",
"old": "",
"changed": false
},
"seat_change": {
"changed": false
},
"object_change": {
"changed": true
},
"subject_company": {
"kbo": "0863.411.153",
"name_full": "CGK"
},
"legal_form_change": {
"new": "Besloten vennootschap",
"old": "Besloten vennootschap met beperkte aansprakelijkheid",
"changed": false
}
}Credit advice
Company registry (CBE)
Activities
Business and other management consultancy70200Business consulting702207414270322Combined facilities support activities81100
Names & trade names
| Legal nameNL | CGK |
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