CGM
ActiveSummary
The computed 12-month bankruptcy probability of CGM is 2.9% (moderate). The annual accounts of CGM for financial year 2024 show a net loss of 117% of total assets and of 67% of the equity at the start of that year. The 2024 annual accounts show equity of €1,654 and a net result of -€3,325. Equity has been shrinking by about 195% per year since 2022. If that trend continues, it turns negative around financial year 2025. Its solvency ranks better than 75% of 18,734 sector peers (NACE 56, financial year 2024). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-02-2022 Normal situation
- Activity
- Limited-service restaurants, excluding mobile food services NACE 56112and 5 others
- Establishment unit
- 2.330.336.413 3770 Riemst, since 25-04-2022
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
- Marx GlennDirector · since 18-02-2022
- Marx Glenn100 sharesact of 23-02-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.9%
- Gross margin
- -€2,576
- ▲ 81.8%
- Loss
- €3,325
- ▼ 79.4%
- Equity
- €1,654
- ▼ 66.8%
- Total assets
- €2,836
- ▼ 61.8%
- 2025 accounts not filed, 96 days past the deadline
Score breakdownraises riskFigures for financial year 2024 (filed on 25-07-2025)Founded in 2022Sector: Food and beverage service activities (NACE 56)lowers riskLiquidity: current ratio 1.88, cash €1,558, halvedShow the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 (NACE 56, micro). It does better than 75% of them on solvency, 83% on liquidity, 8% on profitability and 11% on growth.
The bankruptcy probability was computed on 04-11-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 20 days before the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 22-07-2025 PDF all 3 filings
Every figure per financial year
The operating result for 2024 is a loss of €3,271, smaller than the loss of €16,049 in 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 2022 | 2023 | 2024 |
|---|---|---|---|
| Tangible fixed assets | €2,140 | - | - |
| Depreciation and write-downs of the year | €382 | €571 | €571 |
Source: notes to the 2022 to 2024 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €382 | €571 | €571 | = |
| Other operating charges640/8 | €732 | €1,312 | €124 | ▼ 90.6% |
| Gross operating margin9900 | €4,687 | -€14,166 | -€2,576 | ▲ 81.8% |
| Operating profit (loss)9901 | €3,573 | -€16,049 | -€3,271 | ▲ 79.6% |
| Financial income75/76B | €0 | €83 | - | - |
| Recurring financial income75 | €0 | €83 | - | - |
| Financial charges65/66B | €287 | €245 | €54 | ▼ 78.0% |
| Recurring financial charges65 | €287 | €245 | €54 | ▼ 78.0% |
| Profit (loss) for the period before taxes9903 | €3,286 | -€16,212 | -€3,325 | ▲ 79.5% |
| Income taxes67/77 | €701 | -€107 | - | - |
| Profit (loss) for the period9904 | €2,584 | -€16,105 | -€3,325 | ▲ 79.4% |
| Profit (loss) for the period to be appropriated9905 | €2,584 | -€16,105 | -€3,325 | ▲ 79.4% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €27,010 | €7,415 | €2,836 | ▼ 61.8% |
| Fixed assets21/28 | €1,758 | €1,187 | €616 | ▼ 48.1% |
| Tangible fixed assets22/27 | €1,758 | €1,187 | €616 | ▼ 48.1% |
| Plant, machinery and equipment23 | €923 | €710 | €496 | ▼ 30.1% |
| Furniture and vehicles24 | €834 | €477 | €119 | ▼ 75.0% |
| Current assets29/58 | €25,253 | €6,228 | €2,220 | ▼ 64.4% |
| Stocks and contracts in progress3 | €4,214 | - | - | - |
| Stocks30/36 | €4,214 | - | - | - |
| Amounts receivable within one year40/41 | €3,092 | €2,666 | €662 | ▼ 75.2% |
| Trade receivables40 | €3,092 | €2,666 | €363 | ▼ 86.4% |
| Other amounts receivable41 | - | - | €299 | - |
| Cash at bank and in hand54/58 | €17,947 | €3,528 | €1,558 | ▼ 55.8% |
| Deferred charges and accrued income490/1 | - | €35 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €27,010 | €7,415 | €2,836 | ▼ 61.8% |
| Equity10/15 | €21,084 | €4,979 | €1,654 | ▼ 66.8% |
| Contributions10/11 | €18,500 | €18,500 | €18,500 | = |
| Capital10 | €18,500 | €18,500 | €18,500 | = |
| Issued capital100 | €18,500 | €18,500 | €18,500 | = |
| Reserves13 | €2,584 | - | - | - |
| Distributable reserves133 | €2,584 | - | - | - |
| Profit (loss) carried forward14 | - | -€13,521 | -€16,846 | ▼ 24.6% |
| Amounts payable17/49 | €5,926 | €2,436 | €1,181 | ▼ 51.5% |
| Amounts payable within one year42/48 | €5,926 | €2,397 | €1,181 | ▼ 50.7% |
| Trade debts44 | €1,616 | €1,144 | €124 | ▼ 89.2% |
| Suppliers440/4 | €1,616 | €1,144 | €124 | ▼ 89.2% |
| Taxes, remuneration and social security45 | €3,060 | €99 | - | - |
| Taxes450/3 | €2,060 | €99 | - | - |
| Remuneration and social security454/9 | €1,000 | - | - | - |
| Other amounts payable47/48 | €1,249 | €1,153 | €1,057 | ▼ 8.3% |
| Accrued charges and deferred income492/3 | - | €39 | - | - |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,584 | -€16,105 | -€3,325 | ▲ 79.4% |
| + Depreciation and write-downs630 | €382 | €571 | €571 | = |
| Operating cash flow (approximation) | €2,967 | -€15,534 | -€2,754 | ▲ 82.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€14,419 | -€1,969 | ▲ 86.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,223 companies had the same profile as CGM has now. Two years later, 87.8% were still going and 3.4% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CGM itself: 2.9% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,223 companies, not a prediction for CGM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- Marx Glenn 100 shares (100%)
Capital transactions
- 23-02-2022 Incorporation · €18,500 · 100 shares
Articles of association
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- 100 shares
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 23-02-2022 (in Dutch)
Network & group
CGM shares no director with another company.
Companies at the same address
3 other companiesConnections & network
1 current directorThe network starts from the directors of CGM. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
23-02
Gazette deed
IncorporationFounding capital of €18,500, 100 shares · Founder: Marx Glenn · Appointment: Marx Glenn (director)4 points ▸
- Registered office clause, Klein Lafeltstraat 52, 3770 Riemst
- Director appointment, Marx Glenn (director (not named in the articles))
- Founder, Marx Glenn
- Founding capital, €18,500, 100 shares
- The act holds 5 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 73066A0568/00G002 | Flanders | 832 m² | 1 · 104 m² | 10.1 m · 2 |