Equity
-€2.1m
Debts exceed assets in financial year 2025.
CINESCOPE
Lifetime
15 annual accounts with figures on one time axispeak €2.3m (2011)
€409,929▼ 68.6%
lowest -€1.3m (2020)
-€753,355▼ €779,901
peak €913,934 (2019)
-€2.1m▼ €753,355
€3.9m▲ 8.6%
peak 44.7 FTE (2017)
10.2 FTE▼ 20.9%
Board11 names since 2019
2 directorsHoedervangers Jacques and 1 other
Owners5 names in the annual accounts
100%Pathé Belgique and 1 other
Documentsfilings and deeds
24-07-20267 days before the deadline
2025abbreviated format
Gross margin from €1.3m to €409,929Loss of €753,355Staff from 12.9 FTE to 10.2 FTEReappointment: EY Réviseurs d'Entreprises SRL (statutory audi… 18-09Resignation: Anne-Laure Julienne (director) 10-03Equity from -€1.3m to -€2.1m
Key points
from the 2025 annual accountsResult
-€753,355 -€753,355
From profit to loss in 2025, after a profit of €26,546 in 2024.
Debts
€3.9m 211% of the balance sheet
Suppliers 22%Taxes and wages 3%Other 75%
Staff
10.2 FTE from 44.7 in 2017
Between 2017 and 2025, 77% of the full-time equivalents disappeared.
Filings
15 annual accounts 16 filings since 2011
Two of the last ten came late. The 2024 accounts came latest: 144 days after the end of the period.
Position in the sector
-€753,355
Lower net result than 95% of companies in film, video and music. Sector median €5,356 · 508 companies.
Checked score
50
Fair
Financially stronger than 10% of small companies in film, video and music (NACE 59)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.4% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 177 companies (NACE 59, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 0.9%● unchanged vs 02-2025
04-2025: 0.8%▼ -0.1 percentage points vs 03-2025
05-2025: 0.9%▲ +0.1 percentage points vs 04-2025
06-2025: 0.8%▼ -0.1 percentage points vs 05-2025
07-2025: 0.9%▲ +0.1 percentage points vs 06-2025
08-2025: 1.1%▲ +0.2 percentage points vs 07-2025
09-2025: 0.7%▼ -0.4 percentage points vs 08-2025
10-2025: 0.7%● unchanged vs 09-2025lowest value
11-2025: 0.7%● unchanged vs 10-2025lowest value
12-2025: 0.7%● unchanged vs 11-2025lowest value
01-2026: 0.8%▲ +0.1 percentage points vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.9%▲ +0.1 percentage points vs 06-2026
08-2026: 2.4%▲ +1.5 percentage points vs 07-2026highest value
09-2026: 2.4%● unchanged vs 08-2026highest value
10-2026: 2.4%● unchanged vs 09-2026highest value
11-2026: 2.4%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€2.1m
Loss of €753,355 (financial year 2025)
1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 0.22, cash €503,607
Calculation
The band follows from the bankruptcy probability. 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 (NACE 59, small). It does better than 3% of them on solvency, 26% on liquidity, 3% on profitability and 8% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 598 companies had the same profile as CINESCOPE has now. Each dot stands for 2 companies, two years later.
83.3%
were still trading
6.0%
stopped another way
9.4%
went bankrupt
Another 1.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CINESCOPE itself: 2.4% within 12 months.
Test of the method
The method was tested on the 497,447 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 598 companies, not a prediction for CINESCOPE. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.22 (0.39 in 2024), below 1. Short-term debt is 211.2% and cash 27.1% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€2.1m
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 24-07-2026, 7 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
7 days early
2024
25 days late
2023
7 days early
2022
6 days early
2021
20 days early
2020
25 days late
2019
32 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days before the deadline. In the sector (NACE 59), the median for financial year 2024 was 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
HJ
Hoedervangers Jacques
Director, since 19-06-2024
- Pathé Belgique 100%score 83equity €58.8m (2025) · annual accounts 2025
- Pathé SAS consolidatesannual accounts 2025
Recent changes
Reappointment: EY Réviseurs d'Entreprises SRL (statutory auditor)
Gazette deed
Resignation: Anne-Laure Julienne (director)
Appointment: Marion Giral (director) · General meeting of 31-01-2025 · Gazette deed
2 directors appointed, 1 resignation
Resignation: David Epstein (daily management delegate) · Appointments: Jules Seydoux (daily management delegate) and Abraham Van-Den-Broek (daily management delegate) · Board meeting of 14-10-2024 · Gazette deed
1 director appointed, 1 resignation
Resignation: Pathé Holding BV · Permanent representative: Aurélien Bosc · Appointment: Jacques Hoendervangers · General meeting of 19-06-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CINESCOPE Ottignies-Louvain-la-Neuve | - | - | -111.9% | 10.2 |
| ART ET CINEMA Ixelles | - | - | 53.6% | 9.9 |
| FOR&VER Mouscron | - | - | 17.8% | 5.1 |
| GALERIES Brussels | - | - | -18.8% | 9.8 |
| STADSBIOSCOOP CARTOONS Ghent | €1.6m | 9.0% | 50.5% | 7 |
| STADSBIOSCOPEN LUMIÈRE Ghent | €1.8m | 1.9% | 11.4% | 9.3 |
| IMAGIX TOURNAI Tournai | - | - | 47.5% | 8.6 |
These companies have the same main activity as CINESCOPE: motion picture, video and television programme production, sound recording and music publishing activities (NACE 59140). They are comparable in size and age: total assets between €529,000 and €6.8m, founded between 2005 and 2017.
Official details
Source: KBO- Status
- Active since 17-02-2010Normal situation
- Activity
- Motion picture, video and television programme production, sound recording and music publishing activitiesNACE 59140
- Establishment unit
- 2.185.663.0891348 Ottignies-Louvain-la-Neuve, since 17-02-2010
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €960,000estimated
- €1.9m▼ 19.3%
- Employeeson 31-12-2025
- 13▲ 18.2%
- Filing
- Filed on 24-07-2026, 7 days before the end of the filing period
Insights on CINESCOPE
CINESCOPE files the abbreviated format. That format states no turnover. The gross margin fell from €2.3m in 2011 to €409,929 in 2025.
The balance sheet grew most from 2022 to 2024 through fixed assets.
Pathé Belgique holds all the shares. In November 2024, the Official Gazette published the appointment of Abraham Van-Den-Broek as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CINESCOPE
- What is the company number of CINESCOPE?
- The company number of CINESCOPE is 0823.226.825. The VAT number is the same number with BE in front: BE 0823.226.825.
- Where is CINESCOPE based?
- The registered office is at Grand-Place 55, 1348 Ottignies-Louvain-la-Neuve.Company details
- What does CINESCOPE do?
- According to the KBO register, the main activity is motion picture, video and television programme production, sound recording and music publishing activities (NACE 59140).
- What is the legal form of CINESCOPE?
- CINESCOPE is a private limited company (BV).
- When was CINESCOPE founded?
- CINESCOPE was founded on 17-02-2010.
- Is CINESCOPE still active?
- Yes, CINESCOPE is an active enterprise in the KBO register.
- How many employees does CINESCOPE have?
- CINESCOPE had an average of 10.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of CINESCOPE?
- The turnover in financial year 2025 is ≈ €960,000. This figure is estimated from the gross margin of €409,929 and 2,275 comparable companies of the same size. It probably lies between €580,000 and €1.6m. It is a rough estimate.
- Is CINESCOPE profitable?
- In financial year 2025, CINESCOPE made a loss of €753,355.
- Where can I find the annual accounts of CINESCOPE?
- CINESCOPE filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CINESCOPE due?
- CINESCOPE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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