Active BE 0765.658.810Public limited company

CM4Cure

Avenue de l'Hôpital 1 ·4000 Liège, Belgium· 5 yrs active

Sector: NACE 72101 (72101)

Conclusion Checked

The computed 12-month bankruptcy probability of CM4Cure is 0.7% (low). The 2025 annual accounts show equity of €1.77M and a net result of €-152k. Equity is growing by ~19.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 78 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€1.77M
Net result	€-152k
Staff (FTE)	9.4
Better than sector	44%

Snowflake analysis 5 axes · computed by Checked

55 / 100

Mixed profile: strong on stability, weaker on profitability.

Health 56

Profitability 0

Solvency 72

Growth 52

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

0.7% Low

0%0,5%1,5%4%10%≥25%

Young company +Lower-failure-rate sector −Lower-risk legal form −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 3 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.

Administratively compliant

No FOD Economie strikeouts (UBO, accounts, address, activity).

Administrative Flags 0 events

No administrative flags

Health barometer FY 2025 · computed

56 / 100 Fair

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview5 NBB filings

Annual accounts filed on 29-04-2026 with the NBB · fiscal year 2025 · volledig

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~19.6%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 72 · compared across all schema types (micro, abbreviated and full combined)

Metric	This company	Sector median	Position in the sector
Solvency	38.8%	48.3%	better than 44% of 78 sector peers
Net result	€-152k	€17k	better than 16% of 77 sector peers
Equity	€1.77M	€70k	better than 89% of 78 sector peers
Gross operating margin	€627k	€49k	better than 95% of 74 sector peers
Total assets	€4.57M	€234k	better than 89% of 78 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€-155k

+57.5% far below sector median

Net profit

€-152k

+57.6% far below sector median

Cash flow

€-111k

+65.6% far below sector median

Total assets

€4.57M

+3.1% far above sector median

Equity

€1.77M

+5.6% far above sector median

Working capital

€159k

-87.4% +196% vs sector

Employees (FTE)

9

+22.1% 21-25

Staff costs

€780k

+24.5% 21-25

Income taxes

€-48k

+2.4% far below sector median

Debt

€2.80M

+1.5% far above sector median

Debt ≤ 1y

€301k

-31.7% +186% vs sector

Debt > 1y

€2.49M

+7.9% far above sector median

Current ratio

1.53

-60.4% -13% vs sector

Quick ratio

1.53

-60.4% -6% vs sector

Solvency

38.8%

+2.5% -2% vs sector

Debt / equity

1.58

-3.9% +139% vs sector

ROE

-8.6%

+59.8% far below sector median

ROA

-3.3%

+58.8% far below sector median

Interest coverage

-24.62

+58.3% far below sector median

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Revenue	-
EBITDA	€-155k
Net profit	€-152k
Cash flow	€-111k
Staff costs	€780k
Income taxes	€-48k
Dividends	-
Total assets	€4.57M
Equity	€1.77M
Debt	€2.80M
of which ≤ 1y	€301k
of which > 1y	€2.49M
Working capital	€159k
Employees (FTE)	9.4

Ratios (computed)

	2025
Current ratio	1.53
Quick ratio	1.53
Working capital ratio	3.5%
Solvency	38.8%
Debt / equity	1.58
Long-term debt ratio	1.41
Interest coverage	-24.62
Gross margin	-
Net margin	-
ROA	-3.3%
ROE	-8.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	60d
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €4.11M · 89.9% Current assets €460k · 10.1%

Equity & liabilities

Equity €1.77M · 38.8% Debt €2.80M · 61.2%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€4.57M
Fixed assets	21/28	€4.11M
Formation expenses	20	€415
Intangible fixed assets	21	€4.02M
Tangible fixed assets	22/27	€92k
Current assets	29/58	€460k
Amounts receivable within one year	40/41	€70k
Cash & bank	54/58	€229k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€4.57M
Equity	10/15	€1.77M
Contributions / capital	10/11	€1.05M
Accumulated profits (losses)	14	€-573k
Amounts payable	17/49	€2.80M
Amounts payable after one year	17	€2.49M
Amounts payable within one year	42/48	€301k
Trade debts payable within one year	44	€151k
Income statement
Gross operating margin	9900	€627k
Operating result	9901	€-197k
Financial income	75	€3k
Financial charges	65	€6k
Result before taxes	9903	€-200k
Income taxes	67/77	€-48k
Net result for the period	9904	€-152k
Result to be appropriated	9905	€-152k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	72101
Legal form	Public limited company(014)
Incorporation	25-03-2021
Status	Active
Postal code	4000

Establishment units 1 location

CMD-COAT

Avenue de l'Hôpital 1, 4000 LiègeSpeur- en ontwikkelingswerk op biotechnologisch gebied

since 20212.316.309.916

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62826D0504/00R002 ProtectedMonument	Wallonia	1.4 ha	1 · 2.3 ha	48.9 m · 8 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Updates 7 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

29-04-2026

NBB filing Annual accounts filed

fiscal year 2025 · volledig

2025

24-06-2025

NBB filing Annual accounts filed

fiscal year 2024 · volledig

05-03-2025

State Gazette act Director changes

2024

10-04-2024

NBB filing Annual accounts filed

fiscal year 2023 · volledig

2023

04-04-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

09-03-2023

State Gazette act Capital & shares

Roland STIERS

2022

29-03-2022

NBB filing Annual accounts filed

fiscal year 2021 · micro

Belgisch Staatsblad, acts 2 acts

Capital history · 1

09-03-2023

Capital change

All acts · 2 updated 1 year ago

2025

05-03-2025 Colm McCarthy appointed as director (executive) Director changes

Colm McCarthy, Directeur

Original publication ↗

Technical details

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2023

09-03-2023 Capital increase of €450,000 to €1,050,200 Capital & shares·Roland STIERS

€600.200 → €1.050.200

Notary: Roland STIERS · Liège

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

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Company registry (CBE) Crossroads Bank

Activities

Speur- en ontwikkelingswerk op biotechnologisch gebied72101Speur- en ontwikkelingswerk op biotechnologisch gebied72110

Primary activity highlighted.

Names & trade names

Legal nameFR

CM4Cure

Registered office

Avenue de l'Hôpital 1

4000 Liège, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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