CIGADIAL
ActiveSummary
CIGADIAL has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €169,570 and a net result of €13,366. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 57% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▲+25
Solvency88▼-8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 2.56 against 3.26 in 2024; short-term debt: 37.4% and cash: 3% of total assets), and 37.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
62.6%
Return on assets
4.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-05-2026, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
56 d early
2023
76 d early
2022
67 d early
2021
72 d early
2020
57 d early
2019
56 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 64 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 25 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€169,570▲ 8.6%
2024 · €156,204
Total assets
€270,721▲ 23.6%
2024 · €218,974
Net result
€13,366▲ 2,973%
2024 · €435
Working capital
€157,518▲ 11.3%
2024 · €141,590
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 70, Activities of head offices; management consultancy activities, 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€17,260=€3,642▼ 78.9%€8,368▲ 130%€1,706▼ 79.6%€717▼ 57.9%
Net result€23,302within the sector's middle half▲ 1,072%€1,980below the sector's middle half▼ 91.5%€10,359within the sector's middle half▲ 423%€435below the sector's middle half▼ 95.8%€13,366within the sector's middle half▲ 2,973%
Equity€143,429within the sector's middle half▲ 19.4%€145,409within the sector's middle half▲ 1.4%€155,769within the sector's middle half▲ 7.1%€156,204within the sector's middle half▲ 0.3%€169,570within the sector's middle half▲ 8.6%
Total assets€232,372within the sector's middle half▲ 19.0%€235,230within the sector's middle half▲ 1.2%€226,588within the sector's middle half▼ 3.7%€218,974within the sector's middle half▼ 3.4%€270,721within the sector's middle half▲ 23.6%
Debt€88,943▲ 18.2%€89,821▲ 1.0%€70,819▼ 21.2%€62,771▼ 11.4%€101,152▲ 61.1%
Working capital€120,086within the sector's middle half▲ 48.7%€124,977within the sector's middle half▲ 4.1%€138,269above the sector's middle half▲ 10.6%€141,590above the sector's middle half▲ 2.4%€157,518above the sector's middle half▲ 11.3%
Solvency61.7%within the sector's middle half▲ 0.2pp61.8%within the sector's middle half▲ 0.1pp68.7%within the sector's middle half▲ 6.9pp71.3%within the sector's middle half▲ 2.6pp62.6%within the sector's middle half▼ 8.7pp
Current ratio2.35within the sector's middle half▲ 0.282.39within the sector's middle half▲ 0.042.95within the sector's middle half▲ 0.563.26within the sector's middle half▲ 0.302.56within the sector's middle half▼ 0.70
Return on assets (ROA)10.0%within the sector's middle half▲ 9.0pp0.8%below the sector's middle half▼ 9.2pp4.6%within the sector's middle half▲ 3.7pp0.2%below the sector's middle half▼ 4.4pp4.9%within the sector's middle half▲ 4.7pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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 has fallen two years in a row; 2025 is 58% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €270,721
Fixed assets
€12,051 ▼ 17.5%
Current assets
€258,670 ▲ 26.6%
Equity and liabilities €270,721
Equity
€169,570 ▲ 8.6%
Debt
€101,152 ▲ 61.1%
Debt's share of the balance-sheet total rises from 28.7% to 37.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3,280▼
2024 · €4,613
Cash flow
€15,929▲
2024 · €3,343
Debt to equity
0.60▲
2024 · 0.40
ROE
7.9%▲
2024 · 0.3%
Interest coverage
-0.45▼
2024 · 0.76
Debt ≤ 1 year
€101,152▲
2024 · €62,771
Income taxes
€3,317▲
2024 · €1,787
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
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 497,340 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 17,040 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €17,196 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,292 | €2,910 | €2,910 | €2,908 | €2,563 | ▼ 11.9% |
| Other operating charges640/8 | €682 | €609 | €668 | €687 | €707 | ▲ 2.9% |
| Gross operating margin9900 | €21,234 | €7,161 | €11,947 | €5,300 | €3,987 | ▼ 24.8% |
| Operating profit (loss)9901 | €17,260 | €3,642 | €8,368 | €1,706 | €717 | ▼ 57.9% |
| Financial income75/76B | €4,203 | €6,767 | €7,114 | €6,594 | €8,638 | ▲ 31.0% |
| Recurring financial income75 | €4,203 | €6,767 | €7,114 | €6,594 | €8,638 | ▲ 31.0% |
| Financial charges65/66B | -€6,844 | €5,972 | €477 | €6,078 | -€7,328 | ▼ 221% |
| Recurring financial charges65 | -€6,844 | €5,972 | €477 | €6,078 | -€7,328 | ▼ 221% |
| Profit (loss) for the period before taxes9903 | €28,307 | €4,437 | €15,004 | €2,222 | €16,683 | ▲ 651% |
| Income taxes67/77 | €5,005 | €2,456 | €4,645 | €1,787 | €3,317 | ▲ 85.6% |
| Profit (loss) for the period9904 | €23,302 | €1,980 | €10,359 | €435 | €13,366 | ▲ 2,973% |
| Profit (loss) for the period to be appropriated9905 | €23,302 | €1,980 | €10,359 | €435 | €13,366 | ▲ 2,973% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €232,372 | €235,230 | €226,588 | €218,974 | €270,721 | ▲ 23.6% |
| Fixed assets21/28 | €23,343 | €20,432 | €17,522 | €14,614 | €12,051 | ▼ 17.5% |
| Tangible fixed assets22/27 | €23,343 | €20,432 | €17,522 | €14,614 | €12,051 | ▼ 17.5% |
| Land and buildings22 | €22,302 | €19,740 | €17,177 | €14,614 | €12,051 | ▼ 17.5% |
| Furniture and vehicles24 | €1,040 | €693 | €345 | €0 | - | - |
| Current assets29/58 | €209,029 | €214,798 | €209,066 | €204,360 | €258,670 | ▲ 26.6% |
| Amounts receivable within one year40/41 | - | - | €4,940 | €2,278 | €2,231 | ▼ 2.1% |
| Trade receivables40 | - | - | €4,940 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €2,278 | €2,231 | ▼ 2.1% |
| Current investments50/53 | €189,435 | €190,106 | €191,616 | €186,666 | €247,584 | ▲ 32.6% |
| Cash at bank and in hand54/58 | €19,225 | €23,852 | €11,719 | €14,888 | €8,059 | ▼ 45.9% |
| Deferred charges and accrued income490/1 | €369 | €840 | €792 | €528 | €797 | ▲ 51.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €232,372 | €235,230 | €226,588 | €218,974 | €270,721 | ▲ 23.6% |
| Equity10/15 | €143,429 | €145,409 | €155,769 | €156,204 | €169,570 | ▲ 8.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €81,400 | €81,400 | €91,400 | €91,400 | €104,700 | ▲ 14.6% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €75,200 | €75,200 | €85,200 | €85,200 | €98,500 | ▲ 15.6% |
| Profit (loss) carried forward14 | €29 | €2,009 | €2,369 | €2,804 | €2,870 | ▲ 2.4% |
| Amounts payable17/49 | €88,943 | €89,821 | €70,819 | €62,771 | €101,152 | ▲ 61.1% |
| Amounts payable within one year42/48 | €88,943 | €89,821 | €70,797 | €62,771 | €101,152 | ▲ 61.1% |
| Financial debts43 | - | - | - | €1,014 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €1,014 | €0 | ▼ 100% |
| Trade debts44 | €129 | €716 | €578 | €3,706 | €313 | ▼ 91.6% |
| Suppliers440/4 | €129 | €716 | €578 | €3,706 | €313 | ▼ 91.6% |
| Taxes, remuneration and social security45 | €4,491 | €5,962 | €1,701 | €548 | €676 | ▲ 23.4% |
| Taxes450/3 | €4,491 | €5,962 | €1,701 | €548 | €676 | ▲ 23.4% |
| Other amounts payable47/48 | €84,322 | €83,143 | €68,518 | €57,503 | €100,163 | ▲ 74.2% |
| Accrued charges and deferred income492/3 | - | - | €22 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,302 | €1,980 | €10,359 | €435 | €13,366 | ▲ 2,973% |
| + Depreciation and write-downs630 | €3,292 | €2,910 | €2,910 | €2,908 | €2,563 | ▼ 11.9% |
| Operating cash flow (approximation) | €26,594 | €4,891 | €13,270 | €3,343 | €15,929 | ▲ 377% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €4,627 | -€12,134 | €3,169 | -€6,829 | ▼ 315% |
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
2026
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €155,769 ▲7.1%
4 profitable years in a row build equity to €155,769.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €23,302 ▲1,072%
Operating result €17,260, net result €23,302, both a record.
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €1,989
Net result €1,989 after 2 loss-making years.
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€9,960
Net result drops to -€9,960, the lowest in the series; recovery starts the following year.
16-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Edegem · 1 establishment unit since 1999
Ground area
722 m²
Building footprint
106 m²
Volume, LiDAR
707 m³
Parcel 11472C0172/00K000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Willem Herreynsstraat 12, 2650 Edegem
since 19992.091.271.597
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11472C0172/00K000 | Flanders | 722 m² | 1 · 105 m² | 8.6 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
967600Y5GDKU4A9WT493
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 40,717 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
Founded23-02-1999
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465508443
Also
9925:BE0465508443
Registered
17-11-2025
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.