CHEEMACOM
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 45 days after the deadline Filed on 14 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00526404.
Annual accounts 2025 filed on 14-09-2026 at the NBB all 20 filings
Turnover
€243,436▲ 9.2%
2019 · €223,026
EBIT margin
1.1%▼ 0.5pp
2019 · 1.5%
Net result
€4,969▲ 791%
2024 · €558
Working capital
€8,700▲ 133%
2024 · €3,731
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€7,174
▲ 498%
2025
20182025
Net result
€4,969
▲ 791%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€45,996
▲ 12.1%
2025
lowest quarter of the sector
20182025
Total assets
€122,197
▼ 0.3%
2025
lowest quarter of the sector
20182025
Debt
€76,200
▼ 6.6%
2025
20182025
Working capital
€8,700
▲ 133%
2025
middle half of the sector
20182025
Solvency
37.6%
▲ 4.2pp
2025
middle half of the sector
20182025
Current ratio
1.11
▲ 0.07
2025
middle half of the sector
20182025
Return on assets (ROA)
4.1%
▲ 3.6pp
2025
middle half of the sector
20182025
Staff (FTE)
0.4
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€281,831-€223,026▼ 20.9%€243,436▲ 9.2%
Operating result€2,809-€3,450▲ 22.8%€2,558▼ 25.9%€4,841▲ 89.3%€6,249▲ 29.1%€7,381▲ 18.1%€1,200▼ 83.7%€7,174▲ 498%
Net result€2,183-€2,111▼ 3.3%€2,090within the sector's middle half▼ 1.0%€3,294within the sector's middle half▲ 57.6%€4,212within the sector's middle half▲ 27.9%€5,152within the sector's middle half▲ 22.3%€558within the sector's middle half▼ 89.2%€4,969within the sector's middle half▲ 791%
EBIT margin1.0%-1.5%▲ 0.6pp1.1%▼ 0.5pp
Equity€23,609-€25,721▲ 8.9%€27,811within the sector's middle half▲ 8.1%€31,105within the sector's middle half▲ 11.8%€35,317within the sector's middle half▲ 13.5%€40,470within the sector's middle half▲ 14.6%€41,027within the sector's middle half▲ 1.4%€45,996below the sector's middle half▲ 12.1%
Total assets€121,434-€151,262▲ 24.6%€227,209within the sector's middle half▲ 50.2%€174,129within the sector's middle half▼ 23.4%€222,618within the sector's middle half▲ 27.8%€175,248within the sector's middle half▼ 21.3%€122,611within the sector's middle half▼ 30.0%€122,197below the sector's middle half▼ 0.3%
Debt€97,824-€125,542▲ 28.3%€199,398▲ 58.8%€143,024▼ 28.3%€187,300▲ 31.0%€134,778▼ 28.0%€81,584▼ 39.5%€76,200▼ 6.6%
Working capital€6,493-€1,205▼ 81.4%€4,955within the sector's middle half▲ 311%€10,514within the sector's middle half▲ 112%-€16,380below the sector's middle half€3,173within the sector's middle half€3,731within the sector's middle half▲ 17.6%€8,700within the sector's middle half▲ 133%
Solvency19.4%-17.0%▼ 2.4pp12.2%within the sector's middle half▼ 4.8pp17.9%within the sector's middle half▲ 5.6pp15.9%within the sector's middle half▼ 2.0pp23.1%within the sector's middle half▲ 7.2pp33.5%within the sector's middle half▲ 10.4pp37.6%within the sector's middle half▲ 4.2pp
Current ratio1.07-1.01▼ 0.061.02within the sector's middle half▲ 0.021.07within the sector's middle half▲ 0.050.91within the sector's middle half▼ 0.161.02within the sector's middle half▲ 0.111.05within the sector's middle half▲ 0.021.11within the sector's middle half▲ 0.07
Return on assets (ROA)1.8%-1.4%▼ 0.4pp0.9%within the sector's middle half▼ 0.5pp1.9%within the sector's middle half▲ 1.0pp1.9%within the sector's middle half=2.9%within the sector's middle half▲ 1.0pp0.5%within the sector's middle half▼ 2.5pp4.1%within the sector's middle half▲ 3.6pp
Staff (FTE)0.4below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 6 times that of 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €122,197
Fixed assets
€37,296 =
Current assets
€84,900 ▼ 0.5%
Equity and liabilities €122,197
Equity
€45,996 ▲ 12.1%
Debt
€76,200 ▼ 6.6%
Debt's share of the balance-sheet total falls from 66.5% to 62.4%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
0.68▲
2024 · 0.43
Debt to equity
1.66▼
2024 · 1.99
ROE
10.8%▲
2024 · 1.4%
Debt ≤ 1 year
€76,200▼
2024 · €81,584
Income taxes
€1,653▲
2024 · €496
Staff costs
€6,764
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 2 |
| part-time | 2 |
| in full-time equivalents | 1.1 |
| Average over the year, in full-time equivalents | 0.2 |
| On a permanent contract | 2 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | €33,171 | - | - | - |
| Depreciation and write-downs of the year | €2,265 | €2,065 | €2,010 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €281,831 | €223,026 | €243,436 | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €3,560 | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | - | €6,764 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €337 | €2,100 | €2,155 | €2,265 | €2,065 | €2,010 | - | - | - |
| Other operating charges640/8 | - | - | - | €825 | €957 | €1,090 | €1,106 | €1,066 | ▼ 3.6% |
| Gross operating margin9900 | €3,493 | €6,599 | €5,498 | €7,932 | €9,271 | €10,481 | €2,306 | €15,004 | ▲ 551% |
| Operating profit (loss)9901 | €2,809 | €3,450 | €2,558 | €4,841 | €6,249 | €7,381 | €1,200 | €7,174 | ▲ 498% |
| Financial charges65/66B | - | - | - | €771 | €372 | €337 | €147 | €552 | ▲ 277% |
| Recurring financial charges65 | €626 | €644 | €467 | €771 | €372 | €337 | €147 | €552 | ▲ 277% |
| Profit (loss) for the period before taxes9903 | €2,183 | €2,806 | €2,090 | €4,070 | €5,877 | €7,045 | €1,054 | €6,622 | ▲ 529% |
| Income taxes67/77 | - | €695 | - | €776 | €1,664 | €1,892 | €496 | €1,653 | ▲ 233% |
| Profit (loss) for the period9904 | €2,183 | €2,111 | €2,090 | €3,294 | €4,212 | €5,152 | €558 | €4,969 | ▲ 791% |
| Profit (loss) for the period to be appropriated9905 | €2,183 | €2,111 | €2,090 | €3,294 | €4,212 | €5,152 | €558 | €4,969 | ▲ 791% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €121,434 | €151,262 | €227,209 | €174,129 | €222,618 | €175,248 | €122,611 | €122,197 | ▼ 0.3% |
| Fixed assets21/28 | €17,116 | €24,516 | €22,856 | €20,591 | €51,697 | €37,296 | €37,296 | €37,296 | = |
| Tangible fixed assets22/27 | €600 | €8,000 | €6,340 | €4,075 | €2,010 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €4,075 | €2,010 | - | - | - | - |
| Financial fixed assets28 | €16,516 | €16,516 | €16,516 | €16,516 | €49,687 | €37,296 | €37,296 | €37,296 | = |
| Current assets29/58 | €104,318 | €126,746 | €204,353 | €153,538 | €170,920 | €137,951 | €85,315 | €84,900 | ▼ 0.5% |
| Stocks and contracts in progress3 | €73,920 | €99,920 | €103,920 | €106,512 | €60,920 | €67,120 | €50,120 | €32,920 | ▼ 34.3% |
| Stocks30/36 | - | - | - | €73,920 | €60,920 | €67,120 | €50,120 | €32,920 | ▼ 34.3% |
| Contracts in progress37 | - | - | - | €32,592 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €12,426 | €8,756 | €66,913 | €18,118 | €61,658 | €53,886 | €29,416 | €51,980 | ▲ 76.7% |
| Trade receivables40 | - | - | - | €12,053 | €59,887 | €26,638 | €26,011 | €50,943 | ▲ 95.9% |
| Other amounts receivable41 | - | - | - | €6,065 | €1,771 | €27,248 | €3,405 | €1,037 | ▼ 69.5% |
| Cash at bank and in hand54/58 | €17,972 | €18,071 | €33,520 | €28,908 | €48,342 | €16,946 | €5,779 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €121,434 | €151,262 | €227,209 | €174,129 | €222,618 | €175,248 | €122,611 | €122,197 | ▼ 0.3% |
| Equity10/15 | €23,609 | €25,721 | €27,811 | €31,105 | €35,317 | €40,470 | €41,027 | €45,996 | ▲ 12.1% |
| Contributions10/11 | €7,210 | €7,210 | €7,210 | €7,210 | €7,210 | €7,210 | €7,210 | €7,210 | = |
| Contributions outside capital11 | - | - | - | €7,210 | €7,210 | €7,210 | €7,210 | €7,210 | = |
| Other1109/19 | - | - | - | €7,210 | €7,210 | €7,210 | €7,210 | €7,210 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €14,539 | €16,651 | €18,741 | €22,035 | €26,247 | €31,400 | €31,957 | €36,926 | ▲ 15.5% |
| Amounts payable17/49 | €97,824 | €125,542 | €199,398 | €143,024 | €187,300 | €134,778 | €81,584 | €76,200 | ▼ 6.6% |
| Amounts payable within one year42/48 | €97,824 | €125,542 | €199,398 | €143,024 | €187,300 | €134,778 | €81,584 | €76,200 | ▼ 6.6% |
| Financial debts43 | - | - | - | - | - | - | - | €4,330 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €4,330 | - |
| Trade debts44 | €8,992 | €1,210 | €14,618 | €2,110 | €2,501 | €19,355 | €48,465 | €47,684 | ▼ 1.6% |
| Suppliers440/4 | - | - | - | €2,110 | €2,501 | €19,355 | €48,465 | €47,684 | ▼ 1.6% |
| Advances received on contracts in progress46 | - | - | - | €136,318 | €178,990 | €111,867 | €26,785 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €776 | €5,809 | €3,557 | €2,468 | €2,679 | ▲ 8.5% |
| Taxes450/3 | - | - | - | €776 | €5,809 | €3,557 | €2,468 | €2,087 | ▼ 15.4% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €592 | - |
| Other amounts payable47/48 | - | - | - | €3,820 | - | - | €3,865 | €21,507 | ▲ 456% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,183 | €2,111 | €2,090 | €3,294 | €4,212 | €5,152 | €558 | €4,969 | ▲ 791% |
| + Depreciation and write-downs630 | €337 | €2,100 | €2,155 | €2,265 | €2,065 | €2,010 | - | - | - |
| Operating cash flow (approximation) | €2,519 | €4,211 | €4,245 | €5,559 | €6,277 | €7,162 | €558 | €4,969 | ▲ 791% |
| Investment in fixed assets (approximation) | - | -€9,500 | -€495 | €0 | -€33,171 | €12,391 | €0 | €0 | - |
| Change in cash | - | €99 | €15,449 | -€4,612 | €19,434 | -€31,396 | -€11,166 | - | - |
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, 17,041 companies had the same profile as CHEEMACOM has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CHEEMACOM itself is higher: 1.1% within 12 months. It rests on far more data about CHEEMACOM than the profile alone.
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 17,041 companies, not a prediction for CHEEMACOM. 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.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-09-2026 | 2026-00526404 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00290640 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00291903 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00423237 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20237924 | |
| 31-12-2020 | micro format | 18-08-2021 | 2021-50000431 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-48400428 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-40400253 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-39100239 | |
| 31-12-2016 | micro format | 23-08-2017 | 2017-48200144 |