Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2019 to 2025 closed with a loss. 2023 was the heaviest.
In July 2024, 6,908 companies had the same profile as CISTINE has now. Each dot stands for 18 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 6,908 companies, not a prediction for CISTINE. 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.
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.
| Company | ||||
|---|---|---|---|---|
| CISTINE Chièvres | €6,966 | -€1,358 | -695.3% | - |
| FIRST CONSEIL Uccle | €7,481 | -€1,347 | -238.9% | - |
| Natthida Antwerp | €8,737 | -€31,548 | -1536.0% | - |
| NOUXEP BE Ixelles | €5,729 | -€1,569 | -3051.4% | - |
| YECO INVEST Orp-Jauche | €10,020 | -€308 | -122.8% | - |
| CHATEAU DE LA GRENOUILLE Avelgem | €11,259 | €1,189 | -1709.4% | - |
| GO MODE Nivelles | €3,888 | -€3,176 | 100.0% | - |
These companies have the same main activity as CISTINE: retail sale of women's outerwear (NACE 47711). They are comparable in size and age: total assets between €3,890 and €11,300, founded between 2009 and 2014.
CISTINE files the micro format. That format states no turnover. The gross margin fell from €2,657 in 2012 to -€1,358 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Lower than 95% of 22,939 companies in 2025.
Lower than 95% of 22,068 companies in 2025.
Lower than 95% of 22,218 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2020 | 2019 | 2018 | 2016 | 2015 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
6,966 | 18,482 | 18,630 | 50,993 | 19,498 | 23,599 | 52,175 | 62,742 | 66,331 | 68,078 | |
21/28 |
- | 5,588 | 13,624 | 40,114 | 7,653 | 11,110 | 17,132 | 22,106 | 29,989 | 35,033 | |
22/27 |
- | 5,588 | 13,624 | 40,114 | 7,653 | 11,110 | 17,132 | 22,106 | 29,989 | 35,033 | |
23 |
- | - | - | 3,952 | 7,168 | 10,384 | 16,817 | 20,033 | 23,768 | 26,739 | |
24 |
- | 5,588 | 13,624 | 36,162 | 485 | 726 | 315 | 2,073 | 6,221 | 8,294 | |
29/58 |
6,966 | 12,895 | 5,006 | 10,879 | 11,845 | 12,489 | 35,043 | 40,636 | 36,342 | 33,045 | |
3 |
1,500 | 1,500 | 1,500 | 10,595 | 11,845 | 10,233 | 28,697 | 33,937 | 33,937 | 29,597 | |
30/36 |
1,500 | 1,500 | 1,500 | 10,595 | 11,845 | 10,233 | 28,697 | 33,937 | 33,937 | 29,597 | |
40/41 |
5,466 | 11,395 | 3,173 | - | - | - | 6,346 | 6,699 | - | 3,214 | |
40 |
5,466 | 11,395 | 3,173 | - | - | - | 6,346 | 6,699 | - | 3,083 | |
41 |
- | - | - | - | - | - | - | - | - | 131 | |
54/58 |
- | - | - | 90 | - | 2,256 | - | - | 2,405 | 234 | |
490/1 |
- | - | 333 | 194 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
6,966 | 18,482 | 18,630 | 50,993 | 19,498 | 23,599 | 52,175 | 62,742 | 66,331 | 68,078 | |
10/15 |
-48,436 | -42,531 | -51,165 | -6,761 | 3,361 | 5,339 | 1,933 | 1,822 | 511 | 307 | |
10/11 |
14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 11,600 | 11,600 | 7,200 | 7,200 | |
100 |
- | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | 4,000 | 4,000 | 7,000 | 7,000 | 11,400 | 11,400 | |
11 |
- | - | - | 14,600 | - | - | - | - | - | - | |
1109/19 |
- | - | - | 14,600 | - | - | - | - | - | - | |
14 |
-63,036 | -57,131 | -65,765 | -21,361 | -11,239 | -9,261 | -9,667 | -9,778 | -6,689 | -6,893 | |
17/49 |
55,402 | 61,014 | 69,795 | 57,754 | 16,137 | 18,260 | 50,242 | 60,920 | 65,820 | 67,771 | |
17 |
- | - | - | - | - | - | 7,233 | 12,840 | 25,135 | 36,291 | |
170/4 |
- | - | - | - | - | - | 7,233 | 12,840 | 25,135 | 36,291 | |
42/48 |
55,402 | 61,014 | 69,705 | 57,754 | 16,137 | 18,260 | 43,009 | 48,080 | 40,685 | 31,480 | |
42 |
- | - | - | - | - | 1,877 | 5,607 | 5,455 | 11,156 | 10,815 | |
43 |
14,609 | 14,609 | 14,594 | 1,063 | 2,199 | - | 3,876 | 1,568 | 3,701 | - | |
430/8 |
14,609 | 14,609 | 14,594 | 1,063 | 2,199 | - | 3,876 | 1,568 | 3,701 | - | |
44 |
2,340 | 3,838 | 13,150 | 16,671 | 5,800 | 7,497 | 23,599 | 27,206 | 14,765 | 19,881 | |
440/4 |
2,340 | 3,838 | 13,150 | 16,671 | 5,800 | 7,497 | 23,599 | 27,206 | 14,765 | 19,881 | |
45 |
748 | 600 | 859 | 2,839 | 6,906 | 7,386 | 3,740 | 7,957 | 6,063 | 784 | |
450/3 |
748 | 600 | 859 | 2,839 | 6,906 | 7,386 | 3,740 | 7,957 | 6,063 | 784 | |
47/48 |
37,705 | 41,966 | 41,102 | 37,181 | 1,232 | 1,500 | 6,187 | 5,894 | 5,000 | - | |
492/3 |
- | - | 90 | - | - | - | - | - | - | - | |
| Income statement | |||||||||||
9900 |
-1,358 | 224 | -14,741 | 8,162 | 3,987 | 6,687 | 7,853 | 3,823 | 8,543 | 2,657 | |
630 |
4,018 | 8,036 | 8,036 | 7,721 | 3,457 | 3,457 | 5,368 | 5,290 | 5,045 | 5,045 | |
640/8 |
528 | 697 | 1,382 | 3,645 | 700 | 1,160 | 979 | 959 | 877 | 1,128 | |
9901 |
-5,905 | -8,509 | -24,159 | -3,204 | -170 | 2,070 | 1,506 | -2,426 | 2,621 | -3,516 | |
65/66B |
- | 511 | 370 | 6,918 | 1,808 | 1,132 | 1,395 | 3,078 | 2,417 | 3,377 | |
65 |
- | 511 | 370 | 6,918 | 1,808 | 1,132 | 1,395 | 3,078 | 2,417 | 3,377 | |
9903 |
-5,905 | -9,020 | -24,530 | -10,122 | -1,978 | 938 | 111 | -5,504 | 204 | -6,893 | |
67/77 |
- | 127 | - | - | - | - | - | - | - | - | |
9904 |
-5,905 | -9,147 | -24,530 | -10,122 | -1,978 | 938 | 111 | -5,504 | 204 | -6,893 | |
9905 |
-5,905 | -9,147 | -24,530 | -10,122 | -1,978 | 938 | 111 | -5,504 | 204 | -6,893 | |
| Appropriation of the result | |||||||||||
9906 |
-63,036 | -57,131 | -65,765 | -21,361 | -11,239 | -9,261 | -9,667 | -9,778 | -6,689 | -6,893 | |
14P |
-57,131 | -47,984 | -41,235 | - | - | - | - | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-08-2026.
2025 annual accounts filed 28 days after the deadline. Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00456164.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00456164 | |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00474198 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00412156 | |
| 31-12-2020 | full format | 30-09-2021 | 2021-70900509 | |
| 31-12-2019 | full format | 17-11-2020 | 2020-70900083 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-61300596 | |
| 31-12-2016 | full format | 27-09-2017 | 2017-63900475 | |
| 31-12-2015 | full format | 17-08-2016 | 2016-43100472 | |
| 31-12-2013 | full format | 29-08-2014 | 2014-51800040 | |
| 31-12-2012 | full format | 08-01-2014 | 2014-00300450 |
| Line | Trend | 2025 | 2024 | 2023 | 2020 | 2019 | 2018 | 2016 | 2015 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -1,887 | -473 | -16,123 | 4,517 | 3,287 | 5,527 | 6,874 | 2,864 | 7,666 | 1,529 | ||
| -1,887 | -1,111 | -16,493 | -2,401 | 1,479 | 4,395 | 5,479 | -214 | 5,249 | -1,848 | ||
| -1,569 | 0 | - | 40,182 | 0 | 413 | 394 | 2,452 | 1 | 40,078 | ||
| - | - | - | - | - | - | - | - | 2,171 | - | ||
| -48,436 | -48,119 | -64,699 | -46,875 | -4,292 | -5,771 | -7,966 | -7,444 | -4,343 | 1,565 | ||
| -695.3% | -230.1% | -274.6% | -13.3% | 17.2% | 22.6% | 3.7% | 2.9% | 0.8% | 0.5% | ||
| 0.13 | 0.21 | 0.07 | 0.19 | 0.73 | 0.68 | 0.81 | 0.85 | 0.89 | 1.05 | ||
| 0.10 | 0.19 | 0.05 | 0.00 | 0.00 | 0.12 | 0.15 | 0.14 | 0.06 | 0.11 | ||
| - | - | - | - | 4.80 | 3.42 | 25.99 | 33.44 | - | - | ||
| - | - | - | - | -58.9% | 17.6% | 5.7% | -302.1% | - | - | ||
| -84.8% | -49.5% | -131.7% | -19.8% | -10.1% | 4.0% | 0.2% | -8.8% | 0.3% | -10.1% | ||
| - | -0.93 | -43.53 | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €5,905, smaller than the loss of €8,509 in 2024.
Equity is negative. Debt (€55,402) exceeds the balance-sheet total (€6,966).
CISTINE has no parent and no holdings in its annual accounts. is the only director. CISTINE shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Ô secret des filles registered office Ch.de St-Ghislain 214, 7950 Chièvres | 16-12-2011 | 2.204.884.333 |
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