Ciphera
ActiveSummary
Ciphera has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12,853 and a net result of €10,353. Its solvency ranks better than 52% of 21,166 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 18-09-2024 Normal situation
- Activity
- Computer programming NACE 62100and 2 others
- Establishment unit
- 2.363.791.713 1831 Machelen (Brab.), since 18-09-2024
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- BAIG Muhammad UsmanDirector
- BAIG Muhammad Usman100 sharesdeed of 20-09-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €20,503
- Turnover
- ≈ €110,000
- estimated
- Profit
- €10,353
- Equity
- €12,853
- Total assets
- €20,890
Score breakdownraises risk1 change of registered office in 24 monthsFounded in 2024lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Liquidity: current ratio 2.36, cash €3,313Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, micro). It does better than 54% of them on solvency, 33% on liquidity and 63% on profitability.
The bankruptcy probability was computed on 04-11-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €1,808 |
| Financial fixed assets | €200 |
| Depreciation and write-downs of the year | €85 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85 |
| Other operating charges640/8 | €1,585 |
| Gross operating margin9900 | €20,503 |
| Operating profit (loss)9901 | €18,833 |
| Financial income75/76B | €15 |
| Recurring financial income75 | €15 |
| Financial charges65/66B | €3,269 |
| Recurring financial charges65 | €3,269 |
| Profit (loss) for the period before taxes9903 | €15,579 |
| Income taxes67/77 | €5,226 |
| Profit (loss) for the period9904 | €10,353 |
| Profit (loss) for the period to be appropriated9905 | €10,353 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €20,890 | |
| Fixed assets21/28 | €1,923 | |
| Tangible fixed assets22/27 | €1,723 | |
| Furniture and vehicles24 | €1,723 | |
| Financial fixed assets28 | €200 | |
| Current assets29/58 | €18,967 | |
| Amounts receivable within one year40/41 | €15,317 | |
| Trade receivables40 | €7,446 | |
| Other amounts receivable41 | €7,871 | |
| Cash at bank and in hand54/58 | €3,313 | |
| Deferred charges and accrued income490/1 | €337 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €20,890 | |
| Equity10/15 | €12,853 | |
| Contributions10/11 | €2,500 | |
| Reserves13 | €10,353 | |
| Distributable reserves133 | €10,353 | |
| Amounts payable17/49 | €8,037 | |
| Amounts payable within one year42/48 | €8,037 | |
| Trade debts44 | €2,811 | |
| Suppliers440/4 | €2,811 | |
| Taxes, remuneration and social security45 | €5,226 | |
| Taxes450/3 | €5,226 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €10,353 |
| + Depreciation and write-downs630 | €85 |
| Operating cash flow (approximation) | €10,439 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as Ciphera has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Ciphera itself is lower: 0.3% within 12 months. It rests on far more data about Ciphera than the profile alone.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for Ciphera. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00260448 |
Board & ownership
Directors
Owners and capital
Shareholders
- BAIG Muhammad Usman 100 shares (100%) · €2,500 in cash
Capital transactions
- 20-09-2024 Incorporation · €2,500 · 100 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 20-09-2024 (in Dutch)
Network & group
Ciphera shares no director with another company.
Companies at the same address
8 other companies- NIONIX CONSTRUCT Registered office · since 10-08-2026Founded in 2026 1041.113.668
- AMM Company Registered office · since 02-04-2026Founded in 2026 1036.445.295
- Saerens, Arne (sole trader) Establishment · since 04-11-2019Founded in 2019 0736.950.669
- Bushido Enterprises Establishment · since 03-09-2019Founded in 2019 · total assets €679,891 (2025) 0731.939.135
- Faelli, Adrien (sole trader) Establishment · since 01-02-2019Founded in 2019 0841.732.841
- Havaux, Valérie (sole trader) Establishment · since 03-09-2012Founded in 2012 0848.295.583
- Monolith Consult Establishment · since 15-07-2011Founded in 2011 · total assets €3.7m (2025) 0837.931.728
- Bultinck, Lieven (sole trader) Establishment · since 01-10-2009Founded in 2009 0821.804.091
Connections & network
1 current directorThe network starts from the directors of Ciphera. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
27-05
Gazette deed
Registered office moved from Antwerp to DiegemNew registered office: De Kleetlaan 2, 1831 Diegem · Previous registered office: Frankrijklei 5, 2000 Antwerpen2 points ▸
- Board meeting, 06-02-2026
- Registered-office move, De Kleetlaan 2, 1831 Diegem
20-09
Gazette deed
IncorporationFounding capital of €2,500, 100 shares · Appointment: BAIG Muhammad Usman (director) · Registered office clause: Frankrijklei 5, 2000 Antwerpen5 points ▸
- Incorporation, 17-09-2024
- Founding capital, €2,500, 100 shares
- Registered office clause, Frankrijklei 5, 2000 Antwerpen
- Director appointment, BAIG Muhammad Usman
- Power of attorney, Plutus Accountants & Advisors BV
- The deed holds 1 more point.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- Frankrijklei 5, 2000 Antwerpen until 09-02-2026 · deed of 27-05-2026
Activities
NACEBEL 2025Codes under NACEBEL 2008
18 activities
- Het ontwerpen en programmeren van computerprogramma's
- Het ontwikkelen, onderhouden en beheren van webportalen, websites en webshops
- Het ontwikkelen, verkopen, verdelen, online plaatsen van software, apps en software as a service
- Het verlenen van advies aan de gebruikers m.b.t. informatica, informatietechnologie, soorten computers (hardware) en hun configuratie en de toepassing van bijbehorende programmatuur (software)
- Het ontwikkelen, kopen, verkopen, beheren, in waarde stellen, in licentie nemen of geven van licenties, octrooien, knowhow en andere intellectuele rechten
- Beheer van computerfaciliteiten
- Activiteiten van systeemintegrators
- Overige diensten op het gebied van informatietechnologie en computers
- Gegevensverwerking, web- en serverhosting en aanverwante activiteiten
- Permanent beheren van en werken met de gegevensverwerkende apparatuur van derden
- Samenstelling van databanken door samenbrengen en al dan niet interpreteren van bestaande gegevens uit verschillende bronnen: uurroosters, industriële catalogi, wetenschappelijke gegevens, enz.
- Opslag van gegevens door middel van een computerrecord in een bepaald formaat
- Terbeschikkingstelling van databanken
- Detailhandel in computers, randapparatuur, ICT-apparatuur en software
- Vervaardiging, ontwikkeling, installatie, onderhoud en reparatie van soft- en hardware, randapparatuur en kantoormachines
- Consultancy activiteiten in de algemene zin van het woord
- In de meeste ruime betekenis van het woord, het verlenen van diensten of prestaties op technisch, commercieel, juridisch en financieel gebied, onder meer het verstrekken van advies inzake bedrijfsbeheer, team- en bedrijfsmanagement en teamcoaching
- Ontwikkelen, doceren en organiseren van cursussen, opleidingen, studiedagen, workshops en events in de meest ruime betekenis
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23015B0161/00A006 | Flanders | 9,429 m² | 1 · 2,601 m² | 30.5 m · 8 |