Ciem
ActiveSummary
Ciem has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.9m and a net result of €1.1m. Equity is shrinking by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 46% of 9268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+40
Solvency53▲+2
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270,000 at 30 days acceptable
Liquidity ample (current ratio 7.35 against 14.7 in 2024; short-term debt: 9.4% and cash: 8.4% of total assets), but 72.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.8%
Return on assets
7.8%
Age of the figures
18 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €3.9m
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
6 d early
2021
2 d early
2020
1 d early
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€3.9m▲ 17.6%
2024 · €3.4m
Total assets
€14.2m▲ 11.8%
2024 · €12.7m
Net result
€1.1m
2024 · -€227,987
Working capital
€8.5m▲ 10.5%
2024 · €7.7m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€267,272▲ 43.4%-€434,774▼ 62.7%-€242,399▲ 44.2%-€321,357▼ 32.6%€1.2m
Net result-€528,857▲ 12.6%-€473,773▲ 10.4%€161,918-€227,987€1.1m
Equity€4.3m▼ 18.6%€3.4m▼ 20.8%€3.6m▲ 4.7%€3.4m▼ 6.4%€3.9m▲ 17.6%
Total assets€12.3m▼ 2.4%€11.9m▼ 3.5%€12.2m▲ 3.1%€12.7m▲ 3.9%€14.2m▲ 11.8%
Debt€8.0m▲ 9.3%€8.5m▲ 5.9%€8.7m▲ 2.4%€9.4m▲ 8.1%€10.3m▲ 9.7%
Working capital€7.1m▼ 1.0%€7.2m▲ 0.7%€7.4m▲ 2.7%€7.7m▲ 3.9%€8.5m▲ 10.5%
Staff (FTE)4.7=4.4▼ 6.4%3.3▼ 25.0%3.5▲ 6.1%3.8▲ 8.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1.2m after a loss of €321,357 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.2m
Fixed assets
€4.4m ▼ 2.0%
Current assets
€9.8m ▲ 19.2%
Equity and liabilities €14.2m
Equity
€3.9m ▲ 17.6%
Debt
€10.3m ▲ 9.7%
Debt's share of the balance-sheet total falls from 73.6% to 72.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.5m▲
2024 · -€110,261
Cash flow
€1.3m▲
2024 · -€16,891
Current ratio
7.35▼
2024 · 14.70
Quick ratio
7.35▼
2024 · 14.70
Debt to equity
2.60▼
2024 · 2.79
ROE
28.0%▲
2024 · -6.8%
ROA
7.8%▲
2024 · -1.8%
Interest coverage
3.38▲
2024 · -0.12
Debt ≤ 1 year
€1.3m▲
2024 · €560,399
Debt > 1 year
€6.7m=
2024 · €6.7m
Income taxes
€393,867▲
2024 · €1,279
Staff costs
€331,684▼
2024 · €388,346
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €78 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €348,507 | €290,467 | €388,346 | €331,684 | ▼ 14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €337,920 | €309,476 | €255,687 | €211,096 | €215,041 | ▲ 1.9% |
| Other operating charges640/8 | - | €42,037 | €42,861 | €34,373 | €66,359 | ▲ 93.1% |
| Non-recurring operating charges66A | - | €43,522 | €0 | - | - | - |
| Gross operating margin9900 | €459,412 | €308,769 | €346,617 | €312,458 | €1.9m | ▲ 493% |
| Operating profit (loss)9901 | -€267,272 | -€434,774 | -€242,399 | -€321,357 | €1.2m | ▲ 486% |
| Financial income75/76B | - | €620,836 | €925,693 | €996,611 | €918,706 | ▼ 7.8% |
| Recurring financial income75 | €405,905 | €620,836 | €925,693 | €996,611 | €918,706 | ▼ 7.8% |
| Non-recurring financial income76B | - | - | - | - | €0 | - |
| Financial charges65/66B | - | €658,713 | €520,293 | €901,961 | €659,551 | ▼ 26.9% |
| Recurring financial charges65 | €666,305 | €606,463 | €520,293 | €901,961 | €430,583 | ▼ 52.3% |
| Non-recurring financial charges66B | - | €52,250 | €0 | - | €228,967 | - |
| Profit (loss) for the period before taxes9903 | -€527,672 | -€472,650 | €163,001 | -€226,707 | €1.5m | ▲ 762% |
| Income taxes67/77 | €1,185 | €1,123 | €1,083 | €1,279 | €393,867 | ▲ 30,687% |
| Profit (loss) for the period9904 | -€528,857 | -€473,773 | €161,918 | -€227,987 | €1.1m | ▲ 585% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €734 | - |
| Profit (loss) for the period to be appropriated9905 | -€528,857 | -€473,773 | €161,918 | -€227,987 | €1.1m | ▲ 585% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.3m | €11.9m | €12.2m | €12.7m | €14.2m | ▲ 11.8% |
| Fixed assets21/28 | €4.9m | €4.5m | €4.4m | €4.5m | €4.4m | ▼ 2.0% |
| Intangible fixed assets21 | - | - | €2,667 | €1,482 | €297 | ▼ 80.0% |
| Tangible fixed assets22/27 | €2.4m | €2.3m | €2.3m | €2.3m | €2.2m | ▼ 3.8% |
| Land and buildings22 | - | €2.3m | €2.2m | €2.3m | €2.1m | ▼ 5.7% |
| Plant, machinery and equipment23 | - | €6,015 | €12,929 | €8,652 | €5,835 | ▼ 32.6% |
| Furniture and vehicles24 | - | €36,833 | €25,724 | €21,486 | €67,690 | ▲ 215% |
| Financial fixed assets28 | €2.5m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Current assets29/58 | €7.4m | €7.4m | €7.8m | €8.2m | €9.8m | ▲ 19.2% |
| Stocks and contracts in progress3 | €10 | €10 | €10 | €10 | €10 | = |
| Stocks30/36 | - | €10 | €10 | €10 | €10 | = |
| Amounts receivable within one year40/41 | €4.1m | €2.5m | €2.1m | €2.2m | €2.0m | ▼ 10.7% |
| Trade receivables40 | - | €313,426 | €251,849 | €237,678 | €51,816 | ▼ 78.2% |
| Other amounts receivable41 | - | €2.2m | €1.8m | €2.0m | €1.9m | ▼ 2.6% |
| Current investments50/53 | €3.0m | €4.7m | €5.2m | €5.4m | €6.5m | ▲ 20.2% |
| Cash at bank and in hand54/58 | €219,404 | €189,089 | €484,145 | €440,832 | €1.2m | ▲ 171% |
| Deferred charges and accrued income490/1 | - | €49,310 | €85,800 | €149,711 | €119,433 | ▼ 20.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.3m | €11.9m | €12.2m | €12.7m | €14.2m | ▲ 11.8% |
| Equity10/15 | €4.3m | €3.4m | €3.6m | €3.4m | €3.9m | ▲ 17.6% |
| Contributions10/11 | €5.7m | €5.3m | €5.3m | €5.3m | €5.3m | = |
| Capital10 | - | €5.3m | €5.3m | €5.3m | €5.3m | = |
| Issued capital100 | - | €5.3m | €5.3m | €5.3m | €5.3m | = |
| Reserves13 | €174,668 | €174,668 | €174,668 | €174,668 | €173,935 | ▼ 0.4% |
| Non-distributable reserves130/1 | - | €169,104 | €169,104 | €169,104 | €169,104 | = |
| Legal reserve130 | - | €148,393 | €148,393 | €148,393 | €148,393 | = |
| Reserves not available under the articles1311 | - | €20,711 | €20,711 | €20,711 | €20,711 | = |
| Tax-exempt reserves132 | - | €734 | €734 | €734 | €0 | ▼ 100% |
| Distributable reserves133 | - | €4,831 | €4,831 | €4,831 | €4,831 | = |
| Profit (loss) carried forward14 | -€1.6m | -€2.1m | -€1.9m | -€2.1m | -€1.6m | ▲ 27.6% |
| Amounts payable17/49 | €8.0m | €8.5m | €8.7m | €9.4m | €10.3m | ▲ 9.7% |
| Amounts payable after more than one year17 | €6.7m | €6.7m | €6.7m | €6.7m | €6.7m | = |
| Financial debts170/4 | - | €5.1m | €5.1m | €5.1m | €6.7m | ▲ 32.5% |
| Trade debts175 | - | €1.7m | €1.7m | €1.7m | - | - |
| Amounts payable within one year42/48 | €244,294 | €204,604 | €407,770 | €560,399 | €1.3m | ▲ 139% |
| Trade debts44 | €47,714 | €34,946 | €48,047 | €75,004 | €26,919 | ▼ 64.1% |
| Suppliers440/4 | - | €34,946 | €48,047 | €75,004 | €26,919 | ▼ 64.1% |
| Taxes, remuneration and social security45 | - | €58,062 | €36,081 | €51,668 | €416,276 | ▲ 706% |
| Taxes450/3 | - | €5,858 | €2,309 | €873 | €370,305 | ▲ 42,314% |
| Remuneration and social security454/9 | - | €52,204 | €33,773 | €50,795 | €45,971 | ▼ 9.5% |
| Other amounts payable47/48 | - | €111,596 | €323,642 | €433,727 | €893,422 | ▲ 106% |
| Accrued charges and deferred income492/3 | - | €1.5m | €1.5m | €2.1m | €2.2m | ▲ 6.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€528,857 | -€473,773 | €161,918 | -€227,987 | €1.1m | ▲ 585% |
| + Depreciation and write-downs630 | €337,920 | €309,476 | €255,687 | €211,096 | €215,041 | ▲ 1.9% |
| Operating cash flow (approximation) | -€190,937 | -€164,298 | €417,605 | -€16,891 | €1.3m | ▲ 7,920% |
| Investment in fixed assets (approximation) | - | €136,065 | -€226,028 | -€248,718 | -€126,656 | ▲ 49.1% |
| Change in cash | - | -€30,315 | €295,056 | -€43,313 | €755,434 | ▲ 1,844% |
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
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Back to profitnet €1.1m
Net result €1.1m after one loss-making year.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Back to profitnet €161,918
Net result €161,918 after 3 loss-making years.
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€604,969
Net result drops to -€604,969, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity doublescurrent ratio 32.18
Current ratio from 15.97 to 32.18; short-term debt falls from €497,351 to €231,564.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
23-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
25-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 1957
Ground area
2,141 m²
Building footprint
1,737 m²
Volume, LiDAR
14,852 m³
Parcel 44807G0155/00Z002, Flanders · tallest building 20.9 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
CIEM
since 19572.005.895.365
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0155/00Z002 | Flanders | 2,141 m² | 1 · 1,737 m² | 20.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
549300QURQ5R1WU3L996
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Of 9,143 companies in sector 68201 we hold annual accounts for 6,769. 3,472 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-03
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
46190Agents in non-specialised wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.