CITRACO
ActiveSummary
CITRACO has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €50,887 and a net result of €18,354. Equity is growing by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 86% of 14258 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 2.54 against 0.16 in 2024; short-term debt: 18.2% and cash: 4.1% of total assets), and 18.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.8%
Return on assets
29.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-05-2026, 64 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
64 d early
2024
53 d late
2023
1 d early
2022
4 d late
2021
82 d late
2020
31 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 4 August (4 of the last 5 filed years within 68 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#2 oldest company in Merksplas, Real estate sector
Equity
€50,887▲ 56.4%
2024 · €32,533
Total assets
€62,201▲ 61.3%
2024 · €38,551
Net result
€18,354▲ 62.9%
2024 · €11,266
Working capital
€17,375
2024 · -€5,032
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€4,660-€11,230▼ 141%€11,944€16,349▲ 36.9%€23,520▲ 43.9%
Net result-€7,163within the sector's middle half-€13,153below the sector's middle half▼ 83.6%€10,748within the sector's middle half€11,266within the sector's middle half▲ 4.8%€18,354within the sector's middle half▲ 62.9%
Equity€23,671within the sector's middle half▼ 23.2%€10,518below the sector's middle half▼ 55.6%€21,266within the sector's middle half▲ 102%€32,533within the sector's middle half▲ 53.0%€50,887within the sector's middle half▲ 56.4%
Total assets€192,080within the sector's middle half▼ 3.8%€43,340below the sector's middle half▼ 77.4%€43,874below the sector's middle half▲ 1.2%€38,551below the sector's middle half▼ 12.1%€62,201below the sector's middle half▲ 61.3%
Debt€168,409▼ 0.2%€32,822▼ 80.5%€22,608▼ 31.1%€6,019▼ 73.4%€11,314▲ 88.0%
Working capital-€78,161below the sector's middle half▼ 103%-€30,743within the sector's middle half▲ 60.7%-€20,491within the sector's middle half▲ 33.3%-€5,032within the sector's middle half▲ 75.4%€17,375within the sector's middle half
Solvency12.3%within the sector's middle half▼ 3.1pp24.3%within the sector's middle half▲ 11.9pp48.5%within the sector's middle half▲ 24.2pp84.4%above the sector's middle half▲ 35.9pp81.8%above the sector's middle half▼ 2.6pp
Current ratio0.00below the sector's middle half▼ 0.240.06below the sector's middle half▲ 0.060.09below the sector's middle half▲ 0.030.16below the sector's middle half▲ 0.072.54within the sector's middle half▲ 2.37
Return on assets (ROA)-3.7%below the sector's middle half▼ 5.5pp-30.3%below the sector's middle half▼ 26.6pp24.5%above the sector's middle half▲ 54.8pp29.2%above the sector's middle half▲ 4.7pp29.5%above the sector's middle half▲ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 44% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62,201
Fixed assets
€33,513 ▼ 10.8%
Current assets
€28,688 ▲ 2,807%
Equity and liabilities €62,201
Equity
€50,887 ▲ 56.4%
Debt
€11,314 ▲ 88.0%
Debt's share of the balance-sheet total rises from 15.6% to 18.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€27,572▲
2024 · €20,541
Cash flow
€22,407▲
2024 · €15,458
Debt to equity
0.22▲
2024 · 0.19
ROE
36.1%▲
2024 · 34.6%
Interest coverage
718.58▲
2024 · 535.49
Debt ≤ 1 year
€11,314▲
2024 · €6,019
Income taxes
€5,127▲
2024 · €5,045
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 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% | 1.0% |
| 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% 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 31,371 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,000 | €15,014 | €5,161 | €4,192 | €4,052 | ▼ 3.3% |
| Other operating charges640/8 | €2,007 | €1,339 | €1,260 | €1,460 | €1,048 | ▼ 28.2% |
| Non-recurring operating charges66A | - | €12,428 | €0 | - | - | - |
| Gross operating margin9900 | €19,347 | €17,551 | €18,364 | €22,002 | €28,620 | ▲ 30.1% |
| Operating profit (loss)9901 | -€4,660 | -€11,230 | €11,944 | €16,349 | €23,520 | ▲ 43.9% |
| Financial charges65/66B | €2,097 | €758 | €39 | €38 | €38 | = |
| Recurring financial charges65 | €2,097 | €758 | €39 | €38 | €38 | = |
| Profit (loss) for the period before taxes9903 | -€6,757 | -€11,988 | €11,905 | €16,311 | €23,481 | ▲ 44.0% |
| Income taxes67/77 | €406 | €1,165 | €1,157 | €5,045 | €5,127 | ▲ 1.6% |
| Profit (loss) for the period9904 | -€7,163 | -€13,153 | €10,748 | €11,266 | €18,354 | ▲ 62.9% |
| Profit (loss) for the period to be appropriated9905 | -€7,163 | -€13,153 | €10,748 | €11,266 | €18,354 | ▲ 62.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €192,080 | €43,340 | €43,874 | €38,551 | €62,201 | ▲ 61.3% |
| Fixed assets21/28 | €191,703 | €41,261 | €41,757 | €37,565 | €33,513 | ▼ 10.8% |
| Tangible fixed assets22/27 | €191,703 | €41,261 | €41,757 | €37,565 | €33,513 | ▼ 10.8% |
| Land and buildings22 | €176,630 | €38,521 | €36,097 | €33,674 | €31,250 | ▼ 7.2% |
| Plant, machinery and equipment23 | €4,895 | €2,740 | €5,659 | €3,891 | €2,263 | ▼ 41.9% |
| Furniture and vehicles24 | €10,178 | €0 | €0 | - | - | - |
| Current assets29/58 | €377 | €2,079 | €2,117 | €987 | €28,688 | ▲ 2,807% |
| Amounts receivable within one year40/41 | - | - | €843 | €843 | €26,151 | ▲ 3,001% |
| Other amounts receivable41 | - | - | €843 | €843 | €26,151 | ▲ 3,001% |
| Cash at bank and in hand54/58 | €377 | €2,079 | €1,274 | €144 | €2,538 | ▲ 1,668% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €192,080 | €43,340 | €43,874 | €38,551 | €62,201 | ▲ 61.3% |
| Equity10/15 | €23,671 | €10,518 | €21,266 | €32,533 | €50,887 | ▲ 56.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | €18,600 | €18,600 | - | - | - | - |
| Other1109/19 | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €2,666 | €13,933 | €32,287 | ▲ 132% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | €2,666 | €13,933 | €32,287 | ▲ 132% |
| Profit (loss) carried forward14 | €3,211 | -€9,942 | €0 | - | - | - |
| Amounts payable17/49 | €168,409 | €32,822 | €22,608 | €6,019 | €11,314 | ▲ 88.0% |
| Amounts payable after more than one year17 | €89,871 | €0 | - | - | - | - |
| Financial debts170/4 | €89,871 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €78,538 | €32,822 | €22,608 | €6,019 | €11,314 | ▲ 88.0% |
| Current portion of amounts payable after more than one year42 | €27,610 | €687 | €0 | - | - | - |
| Trade debts44 | €2,874 | €176 | €425 | €188 | €1,142 | ▲ 509% |
| Suppliers440/4 | €2,874 | €176 | €425 | €188 | €1,142 | ▲ 509% |
| Taxes, remuneration and social security45 | €2,928 | €817 | €0 | €5,045 | €10,171 | ▲ 102% |
| Taxes450/3 | €2,928 | €817 | €0 | €5,045 | €10,171 | ▲ 102% |
| Other amounts payable47/48 | €45,126 | €31,143 | €22,183 | €787 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,163 | -€13,153 | €10,748 | €11,266 | €18,354 | ▲ 62.9% |
| + Depreciation and write-downs630 | €22,000 | €15,014 | €5,161 | €4,192 | €4,052 | ▼ 3.3% |
| Operating cash flow (approximation) | €14,837 | €1,861 | €15,909 | €15,458 | €22,407 | ▲ 44.9% |
| Investment in fixed assets (approximation) | - | €135,428 | -€5,657 | €0 | €0 | - |
| Change in cash | - | €1,702 | -€804 | -€1,131 | €2,394 | ▲ 312% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-06
State Gazette act
Resignations: Michel Caron, Sylvia Misseghers and Véronique Van BogaertAppointments: Elbotech BV (director) and Nancy Vervoort (director) · Permanent representative: Eric Lanslots · Power of attorney17 facts ▸
State Gazette act
Resignations: Michel Caron, Sylvia Misseghers and Véronique Van Bogaert
Appointments: Elbotech BV (director) and Nancy Vervoort (director) · Permanent representative: Eric Lanslots · Power of attorney17 facts ▸
- Director resignation, Michel Caron (director)
- Director resignation, Sylvia Misseghers (director)
- Other statement, interim discharge of directors, eerstvolgende gewone algemene vergadering
- Director resignation, Véronique Van Bogaert (director)
- Director appointment, Elbotech BV (director)
- Permanent representative, Eric Lanslots (permanent representative)
- Director appointment, Nancy Vervoort (director)
- Power of attorney, Niels Van den Heuvel
- Power of attorney, Sanne Van den Abbeele
- Power of attorney, Romy Verbrugghe
- Power of attorney, Kato Wouters
- Other statement, compliance with legal deposit requirement for concentration of shares, artikel 2:8, §4 WVV
- +5 further facts in this act
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €18,354 ▲62.9%
Operating result €23,520, net result €18,354, both a record.
31-12
Financial
Liquidity times 15current ratio 2.54
Current ratio from 0.16 to 2.54.
22-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 53 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €10,748
Net result €10,748 after 2 loss-making years.
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
2022
31-12
Financial
Weakest financial yearnet -€13,153
Net result drops to -€13,153, the lowest in the series; recovery starts the following year.
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 82 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
Show earlier events
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
03-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 3 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts 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.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Board 2
ELBOTECH
CurrentDirector · since 13-05-2026 · Private limited company · perm. rep.: Eric Lanslots
Nancy Vervoort
CurrentDirector · since 13-05-2026
Permanent representatives 1
Eric Lanslots
CurrentPermanent representative · since 13-05-2026 · for ELBOTECH
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Merksplas · 1 establishment unit since 1990
Ground area
3,220 m²
Building footprint
195 m²
Volume, LiDAR
1,256 m³
Parcel 13023I0029/00N000, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
CITRACO CVBA
since 19902.048.431.647
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13023I0029/00N000 | Flanders | 3,220 m² | 1 · 195 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
5 people since 2002, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ELBOTECH |
|
| Nancy Vervoort |
|
| Michel Caron |
|
| Sylvia Misseghers |
|
| Véronique Van Bogaert |
|
Structure & network
Connections & network
16 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Identification & contact
Identification
Legal formPrivate limited company
Founded29-05-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440598249
Registered
10-06-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.