CHAMADE
ActiveSummary
CHAMADE has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of €187,509. Equity is growing by about 7% per year across the filed financial years. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €2.1m
- Profit
- €187,509
Why 96raises riskNo main activity registeredlowers riskSize: total assets €2.2mEquity €2.1m (98.1% of total assets)Liquidity: current ratio 8.52, cash €353,173Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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, small): better than 82% on solvency, 89% on liquidity, 61% on profitability and 56% on growth.
The bankruptcy probability was computed on 21-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 71 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Liquidity more than doubledcurrent ratio 11.51
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 35% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
- 2022 Net result +142% on 2021. The accounts now follow the micro format, last year the abbreviated format.
Peer companies
Historical observationOf the 20,139 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 20,139 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €5,823 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €131,107 | €138,740 | €123,303 | €19,044 | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €6,809 | €19,354 | €29,018 | €23,708 | €26,854 | ▲ 13.3% |
| Gross operating margin9900 | €723,841 | €826,507 | €160,543 | €219,411 | €563,616 | €446,355 | €227,564 | €301,185 | ▲ 32.4% |
| Operating profit (loss)9901 | €305,477 | €326,775 | -€153,497 | €187,735 | €544,262 | €417,337 | €203,856 | €274,331 | ▲ 34.6% |
| Financial income75/76B | - | - | - | €18 | €0 | - | - | - | - |
| Recurring financial income75 | €37 | €3 | €47 | €18 | €0 | - | - | - | - |
| Non-recurring financial income76B | - | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €1,197 | €384 | €666 | €927 | €385 | ▼ 58.5% |
| Recurring financial charges65 | €2,197 | €1,774 | €1,171 | €1,197 | €334 | €666 | €927 | €385 | ▼ 58.5% |
| Non-recurring financial charges66B | - | - | - | - | €50 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €303,316 | €331,545 | -€154,200 | €186,556 | €543,877 | €416,672 | €202,929 | €273,946 | ▲ 35.0% |
| Income taxes67/77 | €108,306 | €115,720 | €3,214 | €26,453 | €156,750 | €125,555 | €63,841 | €86,437 | ▲ 35.4% |
| Profit (loss) for the period9904 | €195,011 | €215,825 | -€157,414 | €160,102 | €387,127 | €291,117 | €139,088 | €187,509 | ▲ 34.8% |
| Profit (loss) for the period to be appropriated9905 | €195,011 | €215,825 | -€157,414 | €160,102 | €387,127 | €291,117 | €139,088 | €187,509 | ▲ 34.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.6m | €1.7m | €1.5m | €1.6m | €2.0m | €2.1m | €2.1m | €2.2m | ▲ 2.3% |
| Fixed assets21/28 | €1.5m | €1.5m | €1.4m | €1.3m | €1.6m | €1.8m | €1.8m | €1.8m | = |
| Tangible fixed assets22/27 | €1.5m | €1.5m | €1.4m | €1.3m | €1.6m | €1.8m | €1.8m | €1.8m | = |
| Land and buildings22 | - | - | - | €1.2m | €1.5m | €1.6m | €1.6m | €1.6m | = |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Furniture and vehicles24 | - | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0 | - | - |
| Current assets29/58 | €0.09m | €0.3m | €0.1m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 15.6% |
| Stocks and contracts in progress3 | €0.001m | €0.001m | €0.001m | €0 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.03m | €0.03m | €0.005m | €0.02m | €0.005m | €0.005m | €0 | - | - |
| Trade receivables40 | - | - | - | €0.02m | €0.005m | €0.005m | €0 | - | - |
| Other amounts receivable41 | - | - | - | €0.001m | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €0.06m | €0.2m | €0.1m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 15.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €366 | €0 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.6m | €1.7m | €1.5m | €1.6m | €2.0m | €2.1m | €2.1m | €2.2m | ▲ 2.3% |
| Equity10/15 | €1.4m | €1.6m | €1.4m | €1.6m | €1.9m | €2.1m | €2.1m | €2.1m | ▲ 1.6% |
| Contributions10/11 | €0.06m | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.04m | ▼ 32.3% |
| Revaluation surpluses12 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Reserves13 | €0.5m | €0.7m | €0.7m | €0.8m | €1.2m | €1.2m | €1.2m | €1.3m | ▲ 4.3% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.006m | €0.006m | €0.006m | €0 | - | - |
| Distributable reserves133 | - | - | - | €0.8m | €1.2m | €1.2m | €1.2m | €1.3m | ▲ 4.3% |
| Profit (loss) carried forward14 | €87 | €79 | -€0.2m | -€0.07m | -€0.2m | -€0.006m | €0 | €0 | - |
| Amounts payable17/49 | €0.2m | €0.2m | €0.1m | €0.03m | €0.07m | €0.06m | €0.03m | €0.04m | ▲ 56.3% |
| Amounts payable after more than one year17 | €0.05m | €0.03m | €0.006m | €0 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.09m | €0.03m | €0.07m | €0.06m | €0.03m | €0.04m | ▲ 56.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.006m | €0 | - | - | - | - |
| Trade debts44 | €0.05m | €0.05m | €0.02m | €0.001m | €385 | €15 | €148 | €284 | ▲ 92.5% |
| Suppliers440/4 | - | - | - | €0.001m | €385 | €15 | €148 | €284 | ▲ 92.5% |
| Advances received on contracts in progress46 | - | - | - | €0 | €0.004m | €0.007m | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.01m | €0.05m | €0.02m | €0.03m | ▲ 44.4% |
| Taxes450/3 | - | - | - | €0.02m | €0.01m | €0.05m | €0.02m | €0.03m | ▲ 44.4% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.004m | €0.05m | €0 | €0.003m | €0.007m | ▲ 165% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €195,011 | €215,825 | -€157,414 | €160,102 | €387,127 | €291,117 | €139,088 | €187,509 | ▲ 34.8% |
| + Depreciation and write-downs630 | €131,107 | €138,740 | €123,303 | €19,044 | - | - | - | - | - |
| Operating cash flow (approximation) | €326,118 | €354,566 | -€34,111 | €179,146 | €387,127 | €291,117 | €139,088 | €187,509 | ▲ 34.8% |
| Investment in fixed assets (approximation) | - | -€118,051 | -€38,876 | €28,021 | -€319,044 | -€160,000 | €661 | €0 | ▼ 100% |
| Change in cash | - | €186,069 | -€105,984 | €117,317 | €51,098 | €7,528 | -€12,978 | €47,705 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 13-05-2026 | 2026-00114724 |
| 31-12-2024 | micro format | 08-05-2025 | 2025-00093788 |
| 31-12-2023 | micro format | 27-05-2024 | 2024-00098688 |
| 31-12-2022 | micro format | 22-05-2023 | 2023-00098649 |
| 31-12-2021 | abbreviated format | 17-05-2022 | 2022-20032484 |
| 31-12-2020 | abbreviated format | 25-05-2021 | 2021-15100037 |
| 31-12-2019 | abbreviated format | 03-06-2020 | 2020-14500149 |
| 31-12-2018 | abbreviated format | 20-05-2019 | 2019-14200091 |
| 31-12-2017 | abbreviated format | 30-07-2018 | 2018-41400034 |
| 31-12-2016 | abbreviated format | 19-05-2017 | 2017-12800572 |
Subsidies and aid
Flemish government
2022 · 1 entry · €46,420 awarded · €46,420 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| De Brauwer,Philippe |
|
| De Brauwer,Vincent |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
15-07
Gazette deed
Resignations: De Brauwer,Vincent (director) and De Brauwer,Philippe (director)Amendment of the articles · Director discharge · Power of attorney8 facts ▸
- General meeting, 03-07-2024
- Amendment of the articles
- Amendment of the articles, 8
- Director resignation, De Brauwer,Vincent (director)
- Director resignation, De Brauwer,Philippe (director)
- Director discharge, De Brauwer,Vincent
- Director discharge, De Brauwer,Philippe
- Power of attorney, Charlotte Tomme
Show earlier events
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 21 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44809I0718/00F006 | Flanders | 276 m² | 1 · 276 m² | 24.3 m · 7 |
How the parcels are linked
Articles of association
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Alle machten om eventuele statutenwijziging authentiek te doen vaststellen, 2” (deed in Dutch)
Read from the deeds: 1 provision, deed of 15-07-2024