Ciselek
ActiveSummary
Ciselek has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69,259 and a net result of €5,965. Equity is growing by about 18% per year across the filed financial years. Its solvency ranks better than 36% of 34,807 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €69,259
- Profit
- €5,965
Why 92raises riskSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 1.43, cash €159,226Founded in 2014Size: total assets €203,899Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 43, micro): better than 36% on solvency, 63% on liquidity, 43% on profitability and 13% on growth.
The bankruptcy probability was computed on 30-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 14 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Equity above €100,000equity €104,127 ▲17.1%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 66% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 10,904 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.2% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 10,904 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €8,700 | - | €0 | €14 | €87 | ▲ 507% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,812 | €2,760 | €6,126 | €8,054 | €8,420 | €8,041 | €12,024 | €8,327 | ▼ 30.8% |
| Other operating charges640/8 | - | - | - | €131 | €132 | €139 | €179 | €83 | ▼ 53.7% |
| Gross operating margin9900 | €9,251 | €8,896 | €29,989 | €29,866 | €32,090 | €37,208 | €32,548 | €15,311 | ▼ 53.0% |
| Operating profit (loss)9901 | €6,293 | €5,854 | €23,675 | €21,682 | €23,538 | €29,028 | €20,345 | €6,902 | ▼ 66.1% |
| Financial income75/76B | - | - | - | - | €0 | €53 | €739 | €722 | ▼ 2.2% |
| Recurring financial income75 | €68 | €5 | €3 | - | €0 | €53 | €739 | €722 | ▼ 2.2% |
| Financial charges65/66B | - | - | - | €2,108 | €2,699 | €4,333 | €53 | €40 | ▼ 23.0% |
| Recurring financial charges65 | €21 | €40 | €1,589 | €2,108 | €2,699 | €4,333 | €53 | €40 | ▼ 23.0% |
| Non-recurring financial charges66B | - | - | - | - | - | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €6,339 | €5,819 | €22,088 | €19,574 | €20,839 | €24,748 | €21,031 | €7,584 | ▼ 63.9% |
| Income taxes67/77 | €1,095 | €1,580 | €2,037 | €2,941 | €4,771 | €5,517 | €4,995 | €1,618 | ▼ 67.6% |
| Profit (loss) for the period9904 | €5,244 | €4,239 | €20,052 | €16,632 | €16,068 | €19,231 | €16,036 | €5,965 | ▼ 62.8% |
| Profit (loss) for the period to be appropriated9905 | €5,244 | €4,239 | €20,052 | €16,632 | €16,068 | €19,231 | €16,036 | €5,965 | ▼ 62.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €56,283 | €63,674 | €96,092 | €144,123 | €171,935 | €198,040 | €205,422 | €203,899 | ▼ 0.7% |
| Fixed assets21/28 | €5,502 | €5,757 | €9,481 | €30,462 | €22,042 | €15,435 | €7,853 | €11,153 | ▲ 42.0% |
| Tangible fixed assets22/27 | €5,502 | €5,757 | €9,481 | €30,462 | €22,042 | €15,435 | €7,853 | €11,153 | ▲ 42.0% |
| Plant, machinery and equipment23 | - | - | - | €5,081 | €3,072 | €2,874 | €1,200 | €10,306 | ▲ 759% |
| Furniture and vehicles24 | - | - | - | €25,381 | €18,971 | €12,561 | €6,653 | €847 | ▼ 87.3% |
| Current assets29/58 | €50,781 | €57,918 | €86,611 | €113,661 | €149,892 | €182,605 | €197,569 | €192,746 | ▼ 2.4% |
| Stocks and contracts in progress3 | €7,190 | €6,223 | €6,049 | €1,549 | €1,549 | €1,100 | €1,210 | €4,200 | ▲ 247% |
| Stocks30/36 | - | - | - | €1,549 | €1,549 | €1,100 | €1,210 | €4,200 | ▲ 247% |
| Amounts receivable within one year40/41 | €5,600 | €6,452 | €28,589 | €9,361 | €6,288 | €7,088 | €14,995 | €17,330 | ▲ 15.6% |
| Trade receivables40 | - | - | - | €835 | - | €5,774 | €5,057 | €7,397 | ▲ 46.3% |
| Other amounts receivable41 | - | - | - | €8,526 | €6,288 | €1,314 | €9,938 | €9,933 | = |
| Cash at bank and in hand54/58 | €35,491 | €42,792 | €48,974 | €102,751 | €142,056 | €174,417 | €181,364 | €159,226 | ▼ 12.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €11,991 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €56,283 | €63,674 | €96,092 | €144,123 | €171,935 | €198,040 | €205,422 | €203,899 | ▼ 0.7% |
| Equity10/15 | €23,528 | €26,967 | €46,218 | €74,451 | €89,719 | €88,950 | €104,127 | €69,259 | ▼ 33.5% |
| Contributions10/11 | €6,200 | €6,200 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €15,468 | €18,907 | €38,158 | €53,991 | €69,259 | €68,490 | €83,667 | €48,799 | ▼ 41.7% |
| Amounts payable17/49 | €32,755 | €36,708 | €49,874 | €69,673 | €82,216 | €109,090 | €101,295 | €134,640 | ▲ 32.9% |
| Amounts payable within one year42/48 | €32,755 | €36,708 | €49,874 | €69,673 | €82,216 | €109,090 | €101,295 | €134,640 | ▲ 32.9% |
| Trade debts44 | €1,411 | €197 | €3,255 | €4,191 | €5,000 | - | €1,509 | €505 | ▼ 66.6% |
| Suppliers440/4 | - | - | - | €4,191 | €5,000 | - | €1,509 | €505 | ▼ 66.6% |
| Taxes, remuneration and social security45 | - | - | - | €4,754 | €5,420 | €9,512 | €2,416 | €9,294 | ▲ 285% |
| Taxes450/3 | - | - | - | €4,754 | €5,420 | €9,512 | €2,416 | €9,294 | ▲ 285% |
| Other amounts payable47/48 | - | - | - | €60,728 | €71,796 | €99,578 | €97,370 | €124,841 | ▲ 28.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,244 | €4,239 | €20,052 | €16,632 | €16,068 | €19,231 | €16,036 | €5,965 | ▼ 62.8% |
| + Depreciation and write-downs630 | €2,812 | €2,760 | €6,126 | €8,054 | €8,420 | €8,041 | €12,024 | €8,327 | ▼ 30.8% |
| Operating cash flow (approximation) | €8,056 | €6,999 | €26,178 | €24,686 | €24,488 | €27,272 | €28,060 | €14,292 | ▼ 49.1% |
| Investment in fixed assets (approximation) | - | -€3,015 | -€9,850 | -€29,035 | €0 | -€1,434 | -€4,442 | -€11,626 | ▼ 162% |
| Change in cash | - | €7,301 | €6,182 | €53,778 | €39,305 | €32,361 | €6,947 | -€22,138 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00318026 |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00230999 |
| 31-12-2023 | micro format | 08-07-2024 | 2024-00222254 |
| 31-12-2022 | micro format | 07-07-2023 | 2023-00221317 |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20302781 |
| 31-12-2020 | micro format | 15-07-2021 | 2021-36200358 |
| 31-12-2019 | micro format | 13-07-2020 | 2020-29600572 |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59600586 |
| 31-12-2017 | micro format | 16-03-2018 | 2018-07200145 |
| 31-12-2016 | micro format | 05-07-2017 | 2017-29200575 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €105 awarded · €396 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €105 | €105 |
| 2023 | 1 | €0 | €291 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Pardon Cis |
|
Owners and capital
Capital and shareholders
- 14-11-2023 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
14-11
Gazette deed
Resignation: Pardon Cis (manager)Appointment: Pardon Cis (director) · Amendment of the articles · Capital conversion9 facts ▸
- General meeting, 24-10-2023
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigenvermogensrekening” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigenvermogensrekening, vormen en meerderheden statutenwijziging” (deed in Dutch)
- Power of attorney, Paul VERHAVERT
- Director resignation, Pardon Cis (manager)
- Director appointment, Pardon Cis (director (not named in the articles))
- Other provision, director discharge, “kwijting voor uitoefening mandaat” (deed in Dutch)
- Registered office clause, “Mechelbaan 15,2801 Mecheleneffen, Zesde besluit” (deed in Dutch)
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0543.743.594
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12012C0483/00B000 | Flanders | 1,173 m² | 1 · 112 m² | 9.7 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De im- en export, de distributie, de verhuur, het ontwerpen, het fabriceren, installeren, herstellen en onderhouden van alle apparaten…” (deed in Dutch)
17 activities (deed in Dutch)
- De im- en export, de distributie, de verhuur, het ontwerpen, het fabriceren, installeren, herstellen en onderhouden van alle apparaten, machines, installaties, inrichtingen en onderdelen ervan, van welke aard ook, doch voornamelijk in verband met telefonie, audio, video, fotografie, elektriciteit, elektronica, mechanica, speelgoed en meubilair
- De aan- en verkoop, de klein- en groothandel, de in- en uitvoer in alle elektronicamateriaal, elektrisch materiaal, TV, Hifi, video, computers, promotiekledij
- Het deelnemen aan het bestuur van vennootschappen als mandataris, alsmede het waarnemen van de functie van vereffenaar van vennootschappen
- De uitbating van een kantoor voor mecanografische werken: het omvat het opmaken van computerprogramma’s en de uitvoering van werken op computer, alsmede de handel in hard- en software, inbegrepen de verhuur ervan
- Bedrijven en administraties bij te staan en te adviseren bij de uitvoering van hun activiteiten, zowel commercieel, industrieel als financieel; dit omvat tevens taken van administratieve, juridische en fiscale aard met vertrouwelijk karakter
- Alle handelingen die verband houden met transport van goederen
- Verhuur van discobar
- Het spelen als DJ
- Het opbouwen, afbraak, assistentie en advies hieromtrent op festivals
- Het bedrukken, bestickering van kledij
- De financiering en het management van Belgische of buitenlandse vennootschappen
- Het ter beschikking stellen van alle hulpmiddelen, methodes en materialen die derden-opdrachtgevers verlangen in binnen- en buitenland, hetzij bij hen hetzij bij onze instellingen
- Het recruteren, testen en selecteren van personeel
- Het geven van cursussen en opleidingen, het organiseren van studiedagen en studiereizen, het uitgeven van artikels en boeken
- Het optreden als organisator bij manifestaties van wetenschappelijke of culturele aard
- Het aankopen en verkopen, ruilen, huren en verhuren, zowel in binnen- als buitenland, van alle onroerende goederen en alle goederen in verband met of dienstig voor bureeluitrusting, omvattende onder meer: bureelmeubilair, kantoormachines, toestellen en materieel, met inbegrip van wagens, computers, boeken, tijdschriften, papierwaren en andere kantoorbehoeften, dit alles in de meest ruime zin
- Import, export en handel in wijnen
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Ciselek
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, administratieve zetels,agentschappen,werkhuizen,stapelplaatsen,bijkantoren in België of buitenland bij enkel besluit…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Artikel 11. Bevoegdheden van het bestuursorgaan Als er slechts één bestuurder is, is het geheel van de bevoegdheden van de bestuurders aan…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, één of meer bestuurders” (deed in Dutch)“Bedrag vaste of evenredige vergoeding, algemene kosten” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Afstand onder levenden en overdracht bij overlijden, geen rechtsmiddel open tegen beslissing derde deskundige” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of June at 11:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing algemene vergadering beslissende in vormen vereist voor statutenwijziging, op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Ontbinding om welke reden en op welk ogenblik ook, een of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen” (deed in Dutch)