Equity
€554,783 ▲ 121%
Equity rose in 2025 from €250,946 to €554,783.
CIPAS
Lifetime
13 annual accounts with figures on one time axispeak €555,213 (2025)
€555,213▲ 130%
lowest -€8,385 (2017)
€303,837▲ 656%
peak €554,783 (2025)
€554,783▲ 121%
€2.2m▲ 310%
peak 1.8 FTE (2020)
-not published
Board2 names since 2021
1 directorFAES Pascal
Documentsfilings and deeds
26-08-202626 days late
2025micro format
Gross margin from €240,977 to €555,213Result from €40,170 to €303,837Equity from €250,946 to €554,783Debts from €541,797 to €2.2mInvestments €2.3mCash from €98,495 to €51,983
Key points
from the 2025 annual accountsDebts
€2.2m ▲ 310%
Debts rose by €1.7m in 2025.
Investments
€2.5m 23.3 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 279.0% higher than in 2024.
Liquidity
0.09 was 0.86 in 2024
Short-term debts rose from €182,511 to €769,632.
Filings
13 annual accounts since 2013
Eight of the last ten came late. The 2019 accounts came latest: 52 days after the end of the period.
Position in the sector
€303,837
Higher net result than 95% of companies in rental and leasing. Sector median €5,256 · 1,848 companies.
Net result +656%: one-off income
Checked score
91
Excellent
Financially stronger than 63% of small companies in rental and leasing (NACE 77)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 466 companies (NACE 77, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%lowest value
01-2025: 0.1%▲ +0.1 percentage points vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: < 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: 0.1%▲ +0.1 percentage points vs 01-2026
03-2026: 0.2%▲ +0.1 percentage points vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.3%▲ +0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.8%▲ +0.4 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.6 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
1 change of registered office in 24 months
Liquidity: current ratio 0.09, cash €51,983
lowers risk
Size: total assets €2.9m
Figures for financial year 2025 (filed on 02-09-2026)
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 77, small). It does better than 31% of them on solvency, 42% on liquidity, 82% on profitability and 96% 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 very low class on 30-06-2025, 0.1% 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, 2,609 companies had the same profile as CIPAS has now. Each dot stands for 7 companies, two years later.
96.8%
were still trading
2.1%
stopped another way
1.0%
went bankrupt
That fits the bankruptcy probability of CIPAS itself: 0.2% 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 2,609 companies, not a prediction for CIPAS. 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
Credit of up to €50,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.09 (0.86 in 2024), below 1. Short-term debt is 26.8% and cash 1.8% of total assets. 80.7% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 26 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
26 days late
2024
3 days early
2023
29 days late
2022
10 days late
2021
11 days late
2020
31 days late
2019
52 days late
← 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 22 days after the deadline. In the sector (NACE 77), the median for financial year 2024 was 3 days before the deadline, and 39% 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 11 August (5 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
Recent changes
Appointment: Cindy Alen (director)
General meeting of 01-01-2026 · Gazette deed
Registered office moved from Lommel to Dessel
New registered office: Boeretangsedreef 98, 2480 Dessel · Previous registered office: Rembert Dodoensstraat 29, 3920 Lommel · General meeting of 05-09-2025 · Gazette deed
Resignation: FAES Pascal (manager)
Reappointment: FAES Pascal (director) · Director discharge: FAES Pascal · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0847415061
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CIPAS Dessel | €2.9m | €0.6m | 19.3% | - |
| PRICE & QUALITY FUN & CONSTRUCTION Zwevegem | €3.3m | €0.5m | 9.8% | 5 |
| M-Fitness Deinze | €2.6m | €0.6m | 8.6% | - |
| EUROPACENTER Kluisbergen | €2.6m | €0.4m | 21.1% | 2.4 |
| ALL PARTY TENTS Bilzen-Hoeselt | €1.7m | €0.6m | 22.6% | - |
| AA-RODEO Koksijde | €1.8m | €0.3m | 29.2% | - |
| SATELLITE ICE BENELUX Ostend | €2.4m | €1.4m | 35.2% | 8.2 |
These companies have the same main activity as CIPAS: renting and leasing of sports and recreation goods (NACE 77210). They are comparable in size and age: total assets between €1.7m and €3.3m, founded between 2007 and 2014.
Official details
Source: KBO- Status
- Active since 12-07-2012Normal situation
- Activity
- Renting and leasing of sports and recreation goodsNACE 77210and 7 others
- Establishment unit
- 2.211.207.5452480 Dessel, since 16-07-2012
- Financial year end
- 31 December
- Peppol
- Reachable since 24-11-2023
Annual accounts 2025
- ≈ €1.1mestimated
- €2.9m▲ 262%
- ≈ 0 FTEestimated
- Filing
- Filed on 26-08-2026
Insights on CIPAS
CIPAS files the micro format. That format states no turnover. The gross margin rose from €68,752 in 2013 to €555,213 in 2025.
The balance sheet grew most in 2025 through fixed assets, financed with long-term debt.
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 CIPAS
- What is the company number of CIPAS?
- The company number of CIPAS is 0847.415.061. The VAT number is the same number with BE in front: BE 0847.415.061.
- Where is CIPAS based?
- The registered office is at Boeretangsedreef 98, 2480 Dessel.Company details
- What does CIPAS do?
- According to the KBO register, the main activity is renting and leasing of sports and recreation goods (NACE 77210).
- What is the legal form of CIPAS?
- CIPAS is a private limited company (BV).
- When was CIPAS founded?
- CIPAS was founded on 12-07-2012.
- Is CIPAS still active?
- Yes, CIPAS is an active enterprise in the KBO register.
- How many employees does CIPAS have?
- CIPAS had an average of 2.7 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of CIPAS?
- The turnover in financial year 2025 is ≈ €1.1m. This figure is estimated from the gross margin of €555,213 and 879 comparable companies of the same size. It probably lies between €780,000 and €1.6m. It is a rough estimate.
- Is CIPAS profitable?
- In financial year 2025, CIPAS made a profit of €303,837.
- Where can I find the annual accounts of CIPAS?
- CIPAS filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CIPAS due?
- CIPAS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See which support similar companies received that this one did not.Subsidies Compare this company with its sector.Sector benchmark
See how customers, suppliers and banks see your own company and what to improve first.