CINQ
ActiveSummary
CINQ has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €176,086 and a net result of €26,811. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 64% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78=
Solvency75▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 1.95 against 2.03 in 2024; short-term debt: 47.2% and cash: 52.2% of total assets), and 49.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 →
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
neutral · Filed after the deadline
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 29-09-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2026
not confirmed
2025
29 d late
2024
1 d early
2023
36 d late
2022
6 d early
2021
1 d early
2020
12 d early
← 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 8 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, micro schema
Equity
€176,086▲ 7.7%
2024 · €163,561
Total assets
€349,792▲ 10.0%
2024 · €318,056
Net result
€26,811▲ 16.9%
2024 · €22,941
Working capital
€157,528▲ 9.4%
2024 · €144,055
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€4,532▼ 84.3%€88,171▲ 1,846%€72,885▼ 17.3%€30,203▼ 58.6%€28,179▼ 6.7%
Net result€2,551▼ 87.4%€70,410▲ 2,660%€53,910▼ 23.4%€22,941▼ 57.4%€26,811▲ 16.9%
Equity€43,585▲ 6.2%€113,996▲ 162%€154,906▲ 35.9%€163,561▲ 5.6%€176,086▲ 7.7%
Total assets€165,182▼ 10.0%€251,484▲ 52.2%€366,004▲ 45.5%€318,056▼ 13.1%€349,792▲ 10.0%
Debt€121,597▼ 14.6%€137,489▲ 13.1%€211,099▲ 53.5%€154,496▼ 26.8%€173,706▲ 12.4%
Working capital€39,194▲ 17.0%€106,059▲ 171%€140,377▲ 32.4%€144,055▲ 2.6%€157,528▲ 9.4%
Staff (FTE)3.84▲ 5.3%4.5▲ 12.5%
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 three years in a row; 2025 is 7% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €349,792
Fixed assets
€27,063 ▼ 20.9%
Current assets
€322,729 ▲ 13.7%
Equity and liabilities €349,792
Equity
€176,086 ▲ 7.7%
Debt
€173,706 ▲ 12.4%
Debt's share of the balance-sheet total rises from 48.6% to 49.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€38,401▼
2024 · €39,629
Cash flow
€37,033▲
2024 · €32,366
Current ratio
1.95▼
2024 · 2.03
Quick ratio
1.28▲
2024 · 1.21
Debt to equity
0.99▲
2024 · 0.94
ROE
15.2%▲
2024 · 14.0%
ROA
7.7%▲
2024 · 7.2%
Interest coverage
22.46=
2024 · 22.45
Debt ≤ 1 year
€165,201▲
2024 · €139,798
Debt > 1 year
€8,505▼
2024 · €14,697
Income taxes
€10,738▼
2024 · €11,929
Staff costs
€101,306▲
2024 · €99,255
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
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 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 | - | - | - | €13,575 | - | - |
| Remuneration, social security and pensions62 | - | €81,741 | €91,780 | €99,255 | €101,306 | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €987 | €1,142 | €6,879 | €9,426 | €10,222 | ▲ 8.5% |
| Other operating charges640/8 | - | €22,420 | €16,542 | €13,880 | €1,529 | ▼ 89.0% |
| Gross operating margin9900 | €81,441 | €193,473 | €188,087 | €152,763 | €141,236 | ▼ 7.5% |
| Operating profit (loss)9901 | €4,532 | €88,171 | €72,885 | €30,203 | €28,179 | ▼ 6.7% |
| Financial income75/76B | - | €4,064 | €5,237 | €6,431 | €11,081 | ▲ 72.3% |
| Recurring financial income75 | €137 | €4,064 | €5,237 | €6,431 | €11,081 | ▲ 72.3% |
| Financial charges65/66B | - | €1,018 | €1,495 | €1,765 | €1,710 | ▼ 3.1% |
| Recurring financial charges65 | €960 | €1,018 | €1,495 | €1,765 | €1,710 | ▼ 3.1% |
| Profit (loss) for the period before taxes9903 | €3,709 | €91,217 | €76,627 | €34,869 | €37,549 | ▲ 7.7% |
| Income taxes67/77 | €1,157 | €20,806 | €22,717 | €11,929 | €10,738 | ▼ 10.0% |
| Profit (loss) for the period9904 | €2,551 | €70,410 | €53,910 | €22,941 | €26,811 | ▲ 16.9% |
| Profit (loss) for the period to be appropriated9905 | €2,551 | €70,410 | €53,910 | €22,941 | €26,811 | ▲ 16.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €165,182 | €251,484 | €366,004 | €318,056 | €349,792 | ▲ 10.0% |
| Fixed assets21/28 | €6,540 | €10,085 | €43,628 | €34,203 | €27,063 | ▼ 20.9% |
| Tangible fixed assets22/27 | €6,540 | €10,085 | €43,628 | €34,203 | €27,063 | ▼ 20.9% |
| Plant, machinery and equipment23 | - | €4,539 | €3,898 | €3,257 | €2,617 | ▼ 19.7% |
| Furniture and vehicles24 | - | €897 | €33,008 | €24,972 | €19,221 | ▼ 23.0% |
| Other tangible fixed assets26 | - | €4,649 | €6,722 | €5,974 | €5,225 | ▼ 12.5% |
| Current assets29/58 | €158,642 | €241,399 | €322,376 | €283,854 | €322,729 | ▲ 13.7% |
| Stocks and contracts in progress3 | €89,084 | €89,637 | €134,815 | €114,362 | €112,013 | ▼ 2.1% |
| Stocks30/36 | - | €89,637 | €134,815 | €114,362 | €112,013 | ▼ 2.1% |
| Amounts receivable within one year40/41 | €28,599 | €19,599 | €30,863 | €10,628 | €24,247 | ▲ 128% |
| Trade receivables40 | - | - | €11,264 | €10,628 | €22,037 | ▲ 107% |
| Other amounts receivable41 | - | €19,599 | €19,599 | - | €2,210 | - |
| Cash at bank and in hand54/58 | €40,958 | €132,163 | €153,506 | €155,448 | €182,518 | ▲ 17.4% |
| Deferred charges and accrued income490/1 | - | - | €3,192 | €3,415 | €3,950 | ▲ 15.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €165,182 | €251,484 | €366,004 | €318,056 | €349,792 | ▲ 10.0% |
| Equity10/15 | €43,585 | €113,996 | €154,906 | €163,561 | €176,086 | ▲ 7.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €11,583 | €11,583 | €51,583 | €74,083 | €74,083 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €9,723 | €49,723 | €72,223 | €72,223 | = |
| Profit (loss) carried forward14 | €13,402 | €83,813 | €84,723 | €70,878 | €83,403 | ▲ 17.7% |
| Amounts payable17/49 | €121,597 | €137,489 | €211,099 | €154,496 | €173,706 | ▲ 12.4% |
| Amounts payable after more than one year17 | - | - | €20,735 | €14,697 | €8,505 | ▼ 42.1% |
| Financial debts170/4 | - | - | €20,735 | €14,697 | €8,505 | ▼ 42.1% |
| Amounts payable within one year42/48 | €119,448 | €135,339 | €181,999 | €139,798 | €165,201 | ▲ 18.2% |
| Current portion of amounts payable after more than one year42 | - | - | €5,887 | €6,038 | €6,193 | ▲ 2.6% |
| Trade debts44 | €55,391 | €73,948 | €78,372 | €71,514 | €114,215 | ▲ 59.7% |
| Suppliers440/4 | - | €73,948 | €78,372 | €71,514 | €114,215 | ▲ 59.7% |
| Taxes, remuneration and social security45 | - | €32,830 | €50,628 | €9,835 | €10,962 | ▲ 11.5% |
| Taxes450/3 | - | €29,100 | €50,628 | €9,280 | €5,936 | ▼ 36.0% |
| Remuneration and social security454/9 | - | €3,729 | - | €555 | €5,027 | ▲ 806% |
| Other amounts payable47/48 | - | €28,561 | €47,112 | €52,412 | €33,831 | ▼ 35.5% |
| Accrued charges and deferred income492/3 | - | €2,149 | €8,364 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,551 | €70,410 | €53,910 | €22,941 | €26,811 | ▲ 16.9% |
| + Depreciation and write-downs630 | €987 | €1,142 | €6,879 | €9,426 | €10,222 | ▲ 8.5% |
| Operating cash flow (approximation) | €3,538 | €71,553 | €60,789 | €32,366 | €37,033 | ▲ 14.4% |
| Investment in fixed assets (approximation) | - | -€4,687 | -€40,422 | €0 | -€3,083 | - |
| Change in cash | - | €91,205 | €21,343 | €1,942 | €27,070 | ▲ 1,294% |
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
29-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 36 days late
31-01
Financial
Equity above €150,000Eq €154,906 ▲35.9%
4 profitable years in a row build equity to €154,906.
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-01
Financial
Highest result since 2019net €70,410 ▲2,660%
Operating result €88,171, net result €70,410, both a record.
31-01
Financial
Equity above €100,000Eq €113,996 ▲162%
3 profitable years in a row build equity to €113,996.
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-01
Financial
Back to profitnet €20,170
Net result €20,170 after one loss-making year.
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 30 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2017
29-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Waterloo · 1 establishment unit since 2007
Ground area
2,356 m²
Building footprint
1,181 m²
Volume, LiDAR
13,101 m³
2 parcels, Wallonia · tallest building 13.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ROUSEL
since 20072.160.480.010
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763L0424/00D000 | Wallonia | 1,273 m² | 1 · 1,069 m² | 13.0 m · 4 fl. |
| 25762G0614/00_000indicative | Wallonia | 1,083 m² | 1 · 112 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 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 6,495 companies in sector 47716 we hold annual accounts for 2,439. 1,816 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-02-2007
Fiscal year end31-01
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
46423Wholesale of clothing, excluding workwear and underwear
47711Retail sale of women's outerwear
47714Retail trade
47715Retail trade
47722Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0887538023
Also
9925:BE0887538023
Registered
07-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.