CISEAUX
ActiveSummary
CISEAUX has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€13,855) and a net result of €2,735. Equity has been growing by about 12% per year since 2018. Its solvency ranks better than 5% of 1,376 sector peers (NACE 96, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-10-2010 Normal situation
- Activity
- Hairdressing and barber services NACE 96210
- Establishment unit
- 2.192.700.044 1210 Sint-Joost-ten-Node, since 20-10-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 29-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €3,429
- ▲ 316×
- Turnover
- ≈ €31,000
- estimated
- Profit
- €2,735
- Equity
- -€13,855
- ▲ 16.5%
- Total assets
- €2,402
- ▲ 48.4%
- Negative equity on 31-12-2025
- 2025 accounts filed 30 days after the deadline
Score breakdownraises riskCapped at 59: negative equityNegative equity -€13,855lowers riskSize: total assets €2,402Founded in 2010Liquidity: current ratio 0.09, cash €1,034Show 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 96, micro). It does better than 11% of them on solvency, 47% on liquidity, 93% on profitability and 64% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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
The company filed its last 7 accounts on average 15 days after the deadline. In the sector (NACE 96), the median for financial year 2024 was on the deadline day, and 48% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00489117.
Annual accounts 2025 filed on 30-08-2026 at the NBB all 15 filings
Every figure per financial year
The operating result for 2025 is a profit of €2,996, after a loss of €377 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €348 | €365 | €569 | €387 | €433 | ▲ 11.7% |
| Gross operating margin9900 | -€1,717 | -€2,913 | -€4,369 | €2,487 | €5,142 | €6,082 | €11 | €3,429 | ▲ 316× |
| Operating profit (loss)9901 | -€2,064 | -€3,433 | -€4,716 | €2,140 | €4,777 | €5,512 | -€377 | €2,996 | - |
| Financial income75/76B | - | - | - | €1,500 | - | - | - | €1 | - |
| Recurring financial income75 | - | - | €6,000 | €1,500 | - | - | - | €1 | - |
| Financial charges65/66B | - | - | - | €201 | €364 | €283 | €218 | €261 | ▲ 20.1% |
| Recurring financial charges65 | €208 | €201 | €222 | €201 | €364 | €283 | €218 | €261 | ▲ 20.1% |
| Profit (loss) for the period before taxes9903 | -€2,273 | -€3,634 | €1,062 | €3,439 | €4,413 | €5,230 | -€594 | €2,735 | - |
| Profit (loss) for the period9904 | -€2,273 | -€3,634 | €1,062 | €3,439 | €4,413 | €5,230 | -€594 | €2,735 | - |
| Profit (loss) for the period to be appropriated9905 | -€2,273 | -€3,634 | €1,062 | €3,439 | €4,413 | €5,230 | -€594 | €2,735 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4,006 | €2,220 | €3,846 | €2,482 | €2,055 | €3,299 | €1,618 | €2,402 | ▲ 48.4% |
| Fixed assets21/28 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €3,006 | €1,220 | €2,846 | €1,482 | €1,055 | €2,299 | €618 | €1,402 | ▲ 127% |
| Amounts receivable within one year40/41 | €125 | €878 | €1,176 | €422 | €289 | €289 | €433 | €368 | ▼ 14.9% |
| Trade receivables40 | - | - | - | €181 | - | - | €238 | €182 | ▼ 23.6% |
| Other amounts receivable41 | - | - | - | €242 | €289 | €289 | €195 | €187 | ▼ 4.3% |
| Cash at bank and in hand54/58 | €2,880 | €342 | €1,670 | €1,060 | €766 | €2,010 | €186 | €1,034 | ▲ 457% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4,006 | €2,220 | €3,846 | €2,482 | €2,055 | €3,299 | €1,618 | €2,402 | ▲ 48.4% |
| Equity10/15 | -€27,506 | -€30,140 | -€29,078 | -€25,639 | -€21,226 | -€15,996 | -€16,590 | -€13,855 | ▲ 16.5% |
| Contributions10/11 | €8,700 | €9,700 | €9,700 | €9,700 | €9,700 | €9,700 | €9,700 | €9,700 | = |
| Contributions outside capital11 | - | - | - | €9,700 | €9,700 | €9,700 | €9,700 | €9,700 | = |
| Other1109/19 | - | - | - | €9,700 | €9,700 | €9,700 | €9,700 | €9,700 | = |
| Profit (loss) carried forward14 | -€36,206 | -€39,840 | -€38,778 | -€35,339 | -€30,926 | -€25,696 | -€26,290 | -€23,555 | ▲ 10.4% |
| Amounts payable17/49 | €31,511 | €32,360 | €32,924 | €28,121 | €23,280 | €19,295 | €18,208 | €16,257 | ▼ 10.7% |
| Amounts payable within one year42/48 | €31,511 | €32,360 | €32,924 | €28,121 | €23,280 | €19,295 | €18,208 | €16,257 | ▼ 10.7% |
| Trade debts44 | €610 | €889 | €125 | €62 | €914 | €901 | €155 | €73 | ▼ 52.8% |
| Suppliers440/4 | - | - | - | €62 | €914 | €901 | €155 | €73 | ▼ 52.8% |
| Taxes, remuneration and social security45 | - | - | - | €816 | €786 | €350 | €676 | - | - |
| Taxes450/3 | - | - | - | €816 | €786 | €350 | €676 | - | - |
| Other amounts payable47/48 | - | - | - | €27,242 | €21,580 | €18,045 | €17,377 | €16,184 | ▼ 6.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,273 | -€3,634 | €1,062 | €3,439 | €4,413 | €5,230 | -€594 | €2,735 | - |
| Operating cash flow (approximation) | -€2,273 | -€3,634 | €1,062 | €3,439 | €4,413 | €5,230 | -€594 | €2,735 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,539 | €1,329 | -€611 | -€294 | €1,245 | -€1,825 | €848 | - |
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, 3,632 companies had the same profile as CISEAUX has now. Two years later, 91.8% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CISEAUX itself is lower: 0.3% within 12 months. It rests on far more data about CISEAUX 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 3,632 companies, not a prediction for CISEAUX. 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.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-08-2026 | 2026-00489117 | |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00311270 | |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00261577 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00428038 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20408600 | |
| 31-12-2020 | micro format | 16-08-2021 | 2021-49200032 | |
| 31-12-2019 | micro format | 21-08-2020 | 2020-43100223 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60200387 | |
| 31-12-2017 | micro format | 27-07-2018 | 2018-40500573 | |
| 31-12-2016 | micro format | 17-07-2017 | 2017-31800567 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 28-12-2023 Converted to available equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DURAN Neslihan |
|
Network & group
CISEAUX shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of CISEAUX. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
28-12
Gazette deed
Change of role: DURAN Neslihan, from manager to directorCapital conversion · Amendment of the articles · Capital9 points ▸
- General meeting, 22-12-2023
- Other provision, “adaptation des statuts au Code des sociétés et des associations, Première Résolution” (deed in French)
- Capital conversion, “fonds disponibles pour distribution” (deed in French)
- Amendment of the articles
- Other provision, “Forme légale–Dénomination–Siège–Objet–Durée, Titre I” (deed in French)
- Capital
- Director resignation, DURAN Neslihan (manager)
- Director appointment, DURAN Neslihan (director (not named in the articles))
- Director discharge, DURAN Neslihan
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21014A0337/00C003 | Brussels | 303 m² | 1 · 103 m² | 22.3 m · 5 |
| 21818E0096/00A004 | Brussels | 198 m² | 1 · 77 m² | 13.8 m · 4 |