CI-WAY
ActiveSummary
CI-WAY has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €46,836 and a net result of €4,823. Equity is growing by ~26.9% per year across the filed fiscal years. Its solvency ranks better than 34% of 26038 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71▼-5
Solvency39▼-35
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.16 against 1.9 in 2023; short-term debt: 85.7% and cash: 3.4% of total assets), and 85.7% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
14.3%
Return on assets
1.5%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-11-2025, 105 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
105 d late
2023
128 d late
2022
230 d late
2021
248 d late
2020
46 d early
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 116 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€46,836▲ 11.5%
2023 · €42,012
Total assets
€327,981▲ 280%
2023 · €86,409
Net result
€4,823▼ 6.4%
2023 · €5,155
Working capital
€45,846▲ 15.1%
2023 · €39,832
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€8,636▲ 148%€39,638▲ 359%-€4,200€13,771€8,861▼ 35.7%
Net result€8,497within the sector's middle half▲ 143%€37,726above the sector's middle half▲ 344%-€5,539below the sector's middle half€5,155within the sector's middle half€4,823within the sector's middle half▼ 6.4%
Equity€4,574within the sector's middle half€42,300within the sector's middle half▲ 825%€36,761within the sector's middle half▼ 13.1%€42,012within the sector's middle half▲ 14.3%€46,836within the sector's middle half▲ 11.5%
Total assets€100,753within the sector's middle half▲ 979%€80,625within the sector's middle half▼ 20.0%€86,517within the sector's middle half▲ 7.3%€86,409within the sector's middle half▼ 0.1%€327,981above the sector's middle half▲ 280%
Debt€96,179▲ 625%€38,324▼ 60.2%€49,756▲ 29.8%€44,397▼ 10.8%€281,145▲ 533%
Working capital-€7,802within the sector's middle half▼ 98.9%€34,700within the sector's middle half€33,938within the sector's middle half▼ 2.2%€39,832within the sector's middle half▲ 17.4%€45,846within the sector's middle half▲ 15.1%
Solvency4.5%below the sector's middle half▲ 46.6pp52.5%within the sector's middle half▲ 47.9pp42.5%within the sector's middle half▼ 10.0pp48.6%within the sector's middle half▲ 6.1pp14.3%within the sector's middle half▼ 34.3pp
Current ratio0.92within the sector's middle half▲ 0.211.91within the sector's middle half▲ 0.991.68within the sector's middle half▼ 0.221.90within the sector's middle half▲ 0.221.16within the sector's middle half▼ 0.73
Return on assets (ROA)8.4%within the sector's middle half▼ 28.9pp46.8%above the sector's middle half▲ 38.4pp-6.4%below the sector's middle half▼ 53.2pp6.0%within the sector's middle half▲ 12.4pp1.5%within the sector's middle half▼ 4.5pp
Staff (FTE)3.11.3▼ 58.1%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 36% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €327,981
Fixed assets
€990 ▼ 54.6%
Current assets
€326,992 ▲ 288%
Equity and liabilities €327,981
Equity
€46,836 ▲ 11.5%
Debt
€281,145 ▲ 533%
Debt's share of the balance-sheet total rises from 51.4% to 85.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€10,052▼
2023 · €17,685
Cash flow
€6,015▼
2023 · €9,069
Debt to equity
6.00▲
2023 · 1.06
ROE
10.3%▼
2023 · 12.3%
Interest coverage
15.58▼
2023 · 19.09
Debt ≤ 1 year
€281,145▲
2023 · €44,397
Income taxes
€3,393▼
2023 · €7,691
Staff costs
€19,340▼
2023 · €27,380
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,984 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.3%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,341 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% 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 3,984 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €16 | €25,181 | €27,380 | €19,340 | ▼ 29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,953 | €4,776 | €4,777 | €3,914 | €1,191 | ▼ 69.6% |
| Other operating charges640/8 | - | €436 | €496 | €3,881 | €4,347 | ▲ 12.0% |
| Gross operating margin9900 | €11,220 | €44,866 | €26,254 | €48,946 | €33,740 | ▼ 31.1% |
| Operating profit (loss)9901 | €8,636 | €39,638 | -€4,200 | €13,771 | €8,861 | ▼ 35.7% |
| Financial income75/76B | - | €1 | €12 | €1 | - | - |
| Recurring financial income75 | - | €1 | €12 | €1 | - | - |
| Financial charges65/66B | - | €877 | €1,350 | €926 | €645 | ▼ 30.4% |
| Recurring financial charges65 | €139 | €877 | €1,350 | €926 | €645 | ▼ 30.4% |
| Profit (loss) for the period before taxes9903 | €8,497 | €38,763 | -€5,539 | €12,845 | €8,216 | ▼ 36.0% |
| Income taxes67/77 | - | €1,036 | - | €7,691 | €3,393 | ▼ 55.9% |
| Profit (loss) for the period9904 | €8,497 | €37,726 | -€5,539 | €5,155 | €4,823 | ▼ 6.4% |
| Profit (loss) for the period to be appropriated9905 | €8,497 | €37,726 | -€5,539 | €5,155 | €4,823 | ▼ 6.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €100,753 | €80,625 | €86,517 | €86,409 | €327,981 | ▲ 280% |
| Fixed assets21/28 | €12,376 | €7,600 | €2,824 | €2,181 | €990 | ▼ 54.6% |
| Tangible fixed assets22/27 | €12,376 | €7,600 | €2,824 | €2,181 | €990 | ▼ 54.6% |
| Furniture and vehicles24 | - | €7,600 | €2,824 | €2,181 | €990 | ▼ 54.6% |
| Current assets29/58 | €88,376 | €73,024 | €83,694 | €84,228 | €326,992 | ▲ 288% |
| Amounts receivable within one year40/41 | €5,303 | €58,621 | €72,035 | €73,693 | €315,780 | ▲ 329% |
| Trade receivables40 | - | €58,621 | €60,733 | €47,843 | €204,595 | ▲ 328% |
| Other amounts receivable41 | - | - | €11,302 | €25,850 | €111,186 | ▲ 330% |
| Cash at bank and in hand54/58 | €83,074 | €14,323 | €10,218 | €9,286 | €11,211 | ▲ 20.7% |
| Deferred charges and accrued income490/1 | - | €80 | €1,441 | €1,248 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €100,753 | €80,625 | €86,517 | €86,409 | €327,981 | ▲ 280% |
| Equity10/15 | €4,574 | €42,300 | €36,761 | €42,012 | €46,836 | ▲ 11.5% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €62,069 | €62,069 | = |
| Capital10 | - | €61,973 | €61,973 | €62,069 | €62,069 | = |
| Issued capital100 | - | €61,973 | €61,973 | €62,069 | €62,069 | = |
| Profit (loss) carried forward14 | -€57,400 | -€19,673 | -€25,212 | -€20,057 | -€15,234 | ▲ 24.0% |
| Amounts payable17/49 | €96,179 | €38,324 | €49,756 | €44,397 | €281,145 | ▲ 533% |
| Amounts payable within one year42/48 | €96,179 | €38,324 | €49,756 | €44,397 | €281,145 | ▲ 533% |
| Current portion of amounts payable after more than one year42 | - | - | €933 | €933 | €933 | = |
| Trade debts44 | €84,549 | €14,180 | €11,602 | €10,813 | €224,986 | ▲ 1,981% |
| Suppliers440/4 | - | €14,180 | €11,602 | €10,813 | €224,986 | ▲ 1,981% |
| Taxes, remuneration and social security45 | - | €3,103 | €5,945 | €15,456 | €21,607 | ▲ 39.8% |
| Taxes450/3 | - | €3,103 | €1,191 | €8,039 | €11,311 | ▲ 40.7% |
| Remuneration and social security454/9 | - | - | €4,754 | €7,417 | €10,296 | ▲ 38.8% |
| Other amounts payable47/48 | - | €21,042 | €31,275 | €17,194 | €33,619 | ▲ 95.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,497 | €37,726 | -€5,539 | €5,155 | €4,823 | ▼ 6.4% |
| + Depreciation and write-downs630 | €1,953 | €4,776 | €4,777 | €3,914 | €1,191 | ▼ 69.6% |
| Operating cash flow (approximation) | €10,451 | €42,502 | -€762 | €9,069 | €6,015 | ▼ 33.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€3,271 | €0 | ▲ 100% |
| Change in cash | - | -€68,751 | -€4,105 | -€932 | €1,925 | ▲ 307% |
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
2025
13-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 105 days late
2024
06-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 128 days late
17-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 230 days late
2023
31-12
Financial
Back to profitnet €5,155
Net result €5,155 after one loss-making year.
05-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 248 days late
2022
31-12
Financial
Weakest financial yearnet -€5,539
Net result drops to -€5,539, the lowest in the series; recovery starts the following year.
2021
31-12
Financial
Highest result since 2018net €37,726 ▲344%
Operating result €39,638, net result €37,726, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.91
Current ratio from 0.92 to 1.91; short-term debt falls from €96,179 to €38,324.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
20-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 204 days late
2019
31-12
Financial
Back to profitnet €3,490
Net result €3,490 after one loss-making year.
Show earlier events
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
No directors read yet: 0 of 8 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Jans-Molenbeek · 2 establishment units since 2024
Ground area
5.8 ha
Building footprint
3.8 ha
Volume, LiDAR
290,876 m³
3 parcels, Brussels · tallest building 48.1 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
LA SIGNATURE BY SALVATORE
since 20242.366.241.556
LA SIGNATURE BY SALVATORE
since 20252.377.940.350
3 parcels
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21001A0250/00C000 | Brussels | 5.8 ha | 1 · 3.8 ha | 48.1 m · 3 fl. |
| 21308H0112/02C002 | Brussels | 226 m² | 1 · 173 m² | 18.4 m · 4 fl. |
| 21524C0267/00G002 | Brussels | 218 m² | 1 · 79 m² | 13.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,388 companies in this sector we hold annual accounts for 1,159. 802 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded05-07-1995
Fiscal year end31-12
Activities, NACEBEL 2025
47761Retail sale of flowers, plants, seeds and fertilisers
46220Wholesale trade
46319Wholesale of fruit and vegetables, excluding potatoes
47210Retail sale of fruit and vegetables
47789Other retail sale of new goods
77226Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455575049
Also
9925:BE0455575049
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.