CMF CONSTRUCTION
ActiveSummary
CMF CONSTRUCTION has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €279k and a net result of €24k. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+18
Solvency66▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity tight (current ratio 1.42 against 1.25 in 2024; short-term debt: 30.7% and cash: 4.3% of total assets), and 58.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
41.4%
Return on assets
3.6%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
30 d late
2023
23 d late
2022
189 d late
2021
156 d late
2020
181 d late
2019
26 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€279k▲ 9.6%
2024 · €254k
2018: €73klowest in 8 years
2019: €129k▲ +76.3% vs 2018
2020: €177k▲ +36.8% vs 2019
2021: €249k▲ +40.6% vs 2020
2022: €246k▼ -1.1% vs 2021
2023: €245k▼ -0.5% vs 2022
2024: €254k▲ +3.8% vs 2023
2025: €279k▲ +9.6% vs 2024highest in 8 years
2018 → 2025
Total assets
€673k▼ 0.5%
2024 · €677k
2018: €231klowest in 8 years
2019: €339k▲ +46.6% vs 2018
2020: €642k▲ +89.2% vs 2019
2021: €706k▲ +9.9% vs 2020highest in 8 years
2022: €689k▼ -2.3% vs 2021
2023: €578k▼ -16.2% vs 2022
2024: €677k▲ +17.1% vs 2023
2025: €673k▼ -0.5% vs 2024
2018 → 2025
Net result
€24k▲ 161%
2024 · €9k
2018: €50k
2019: €56k▲ +12.8% vs 2018
2020: €48k▼ -14.9% vs 2019
2021: €72k▲ +50.8% vs 2020highest in 8 years
2022: €-3k▼ -104% vs 2021lowest in 8 years
2023: €-1k▲ +54.0% vs 2022
2024: €9k▲ +836% vs 2023
2025: €24k▲ +161% vs 2024
2018 → 2025
Working capital
€88k▲ 60.1%
2024 · €55k
2018: €27klowest in 8 years
2019: €76k▲ +185% vs 2018
2020: €50k▼ -34.9% vs 2019
2021: €116k▲ +132% vs 2020highest in 8 years
2022: €97k▼ -16.5% vs 2021
2023: €89k▼ -7.7% vs 2022
2024: €55k▼ -38.4% vs 2023
2025: €88k▲ +60.1% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€249k-€246k▼ 1.1%€245k▼ 0.5%€254k▲ 3.8%€279k▲ 9.6%
2021: €249k
2022: €246k▼ -1.1% vs 2021
2023: €245k▼ -0.5% vs 2022lowest in 5 years
2024: €254k▲ +3.8% vs 2023
2025: €279k▲ +9.6% vs 2024highest in 5 years
Operating result€105k-€5k▼ 95.6%€14k▲ 192%€25k▲ 79.9%€55k▲ 122%
2021: €105khighest in 5 years
2022: €5k▼ -95.6% vs 2021lowest in 5 years
2023: €14k▲ +192% vs 2022
2024: €25k▲ +79.9% vs 2023
2025: €55k▲ +122% vs 2024
Net result€72k-€-3k€-1k▲ 54.0%€9k€24k▲ 161%
2021: €72khighest in 5 years
2022: €-3k▼ -104% vs 2021lowest in 5 years
2023: €-1k▲ +54.0% vs 2022
2024: €9k▲ +836% vs 2023
2025: €24k▲ +161% vs 2024
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 122% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €673k
Fixed assets
€379k ▼ 6.7%
Current assets
€295k ▲ 8.7%
Equity and liabilities €673k
Equity
€279k ▲ 9.6%
Debt
€395k ▼ 6.6%
Debt's share of the balance-sheet total falls from 62.4% to 58.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€82k▲
2024 · €51k
Cash flow
€51k▲
2024 · €35k
Current ratio
1.42▲
2024 · 1.25
Debt to equity
1.42▼
2024 · 1.66
ROE
8.8%▲
2024 · 3.7%
ROA
3.6%▲
2024 · 1.4%
Interest coverage
5.98▲
2024 · 4.17
Debt ≤ 1 year
€207k▼
2024 · €216k
Debt > 1 year
€188k▼
2024 · €206k
Income taxes
€16k▲
2024 · €3k
Staff costs
€171▲
2024 · €9
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€677k€673k▼
Fixed assets21/28€406k€379k▼
Tangible fixed assets22/27€406k€379k▼
Land and buildings22€348k€343k▼
Plant, machinery and equipment23€9k€4k▼
Furniture and vehicles24€48k€32k▼
Current assets29/58€271k€295k▲
Amounts receivable within one year40/41€256k€254k▼
Trade receivables40€246k€241k▼
Other amounts receivable41€10k€13k▲
Cash at bank and in hand54/58€6k€29k▲
Deferred charges and accrued income490/1€8k€12k▲
Equity and liabilities
Total equity and liabilities10/49€677k€673k▼
Equity10/15€254k€279k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€234k€258k▲
Amounts payable17/49€422k€395k▼
Amounts payable after more than one year17€206k€188k▼
Financial debts170/4€206k€188k▼
Amounts payable within one year42/48€216k€207k▼
Current portion of amounts payable after more than one year42€18k€19k▲
Trade debts44€102k€82k▼
Suppliers440/4€102k€82k▼
Taxes, remuneration and social security45€77k€87k▲
Taxes450/3€9k€18k▲
Remuneration and social security454/9€68k€70k▲
Other amounts payable47/48€19k€19k▲
Income statement
Code20242025
Remuneration, social security and pensions62€9€171▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€27k▲
Other operating charges640/8€31k€23k▼
Gross operating margin9900€81k€105k▲
Operating profit (loss)9901€25k€55k▲
Financial income75/76B€386€50▼
Recurring financial income75€386€50▼
Financial charges65/66B€12k€14k▲
Recurring financial charges65€12k€14k▲
Profit (loss) for the period before taxes9903€13k€41k▲
Income taxes67/77€3k€16k▲
Profit (loss) for the period9904€9k€24k▲
Profit (loss) for the period to be appropriated9905€9k€24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€234k€258k▲
Profit (loss) brought forward from the previous period14P€224k€234k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €260 | €125 | €11 | €9 | €171 | ▲ 1,808% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28k | €28k | €28k | €26k | €27k | ▲ 3.9% |
| Other operating charges640/8 | €2k | €15k | €11k | €31k | €23k | ▼ 24.4% |
| Gross operating margin9900 | €135k | €48k | €53k | €81k | €105k | ▲ 29.1% |
| Operating profit (loss)9901 | €105k | €5k | €14k | €25k | €55k | ▲ 122% |
| Financial income75/76B | €1 | - | €157 | €386 | €50 | ▼ 87.0% |
| Recurring financial income75 | €1 | - | €157 | €386 | €50 | ▼ 87.0% |
| Financial charges65/66B | €5k | €5k | €5k | €12k | €14k | ▲ 12.4% |
| Recurring financial charges65 | €5k | €5k | €5k | €12k | €14k | ▲ 12.4% |
| Profit (loss) for the period before taxes9903 | €100k | €29 | €9k | €13k | €41k | ▲ 219% |
| Income taxes67/77 | €28k | €3k | €10k | €3k | €16k | ▲ 376% |
| Profit (loss) for the period9904 | €72k | €-3k | €-1k | €9k | €24k | ▲ 161% |
| Profit (loss) for the period to be appropriated9905 | €72k | €-3k | €-1k | €9k | €24k | ▲ 161% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €706k | €689k | €578k | €677k | €673k | ▼ 0.5% |
| Fixed assets21/28 | €312k | €294k | €280k | €406k | €379k | ▼ 6.7% |
| Tangible fixed assets22/27 | €312k | €294k | €280k | €406k | €379k | ▼ 6.7% |
| Land and buildings22 | €251k | €246k | €240k | €348k | €343k | ▼ 1.6% |
| Plant, machinery and equipment23 | €28k | €30k | €21k | €9k | €4k | ▼ 58.3% |
| Furniture and vehicles24 | €33k | €19k | €19k | €48k | €32k | ▼ 33.3% |
| Leasing and similar rights25 | €164 | €0 | €0 | - | - | - |
| Current assets29/58 | €393k | €395k | €297k | €271k | €295k | ▲ 8.7% |
| Stocks and contracts in progress3 | €3k | €38k | €20k | - | - | - |
| Stocks30/36 | €3k | €38k | €20k | - | - | - |
| Amounts receivable within one year40/41 | €360k | €331k | €253k | €256k | €254k | ▼ 0.8% |
| Trade receivables40 | €249k | €270k | €234k | €246k | €241k | ▼ 2.2% |
| Other amounts receivable41 | €111k | €62k | €19k | €10k | €13k | ▲ 33.6% |
| Cash at bank and in hand54/58 | €30k | €21k | €20k | €6k | €29k | ▲ 347% |
| Deferred charges and accrued income490/1 | €386 | €5k | €5k | €8k | €12k | ▲ 42.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €706k | €689k | €578k | €677k | €673k | ▼ 0.5% |
| Equity10/15 | €249k | €246k | €245k | €254k | €279k | ▲ 9.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | - | - | - | - | - |
| Issued capital100 | €19k | - | - | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €229k | €226k | €224k | €234k | €258k | ▲ 10.5% |
| Amounts payable17/49 | €457k | €443k | €333k | €422k | €395k | ▼ 6.6% |
| Amounts payable after more than one year17 | €179k | €145k | €125k | €206k | €188k | ▼ 9.0% |
| Financial debts170/4 | €179k | €145k | €125k | €206k | €188k | ▼ 9.0% |
| Amounts payable within one year42/48 | €278k | €298k | €208k | €216k | €207k | ▼ 4.3% |
| Current portion of amounts payable after more than one year42 | €26k | €27k | €20k | €18k | €19k | ▲ 4.2% |
| Trade debts44 | €96k | €113k | €82k | €102k | €82k | ▼ 20.0% |
| Suppliers440/4 | €96k | €113k | €82k | €102k | €82k | ▼ 20.0% |
| Taxes, remuneration and social security45 | €115k | €96k | €61k | €77k | €87k | ▲ 13.0% |
| Taxes450/3 | €110k | €78k | €16k | €9k | €18k | ▲ 96.3% |
| Remuneration and social security454/9 | €4k | €18k | €46k | €68k | €70k | ▲ 1.9% |
| Other amounts payable47/48 | €41k | €62k | €45k | €19k | €19k | ▲ 1.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72k | €-3k | €-1k | €9k | €24k | ▲ 161% |
| + Depreciation and write-downs630 | €28k | €28k | €28k | €26k | €27k | ▲ 3.9% |
| Operating cash flow (approximation) | €100k | €25k | €27k | €35k | €51k | ▲ 45.4% |
| Investment in fixed assets (approximation) | - | €-10k | €-14k | €-151k | €0 | ▲ 100% |
| Change in cash | - | €-9k | €-998 | €-14k | €22k | ▲ 261% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Back to profitnet €9k
Net result €9k after 2 loss-making years.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
05-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 189 days late
2023
03-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 156 days late
2022
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 181 days late
2021
31-12
Financial
Highest result since 2018net €72k ▲50.8%
Operating result €105k, net result €72k, both a record.
31-12
Financial
Equity above €200kEq €249k ▲40.6%
4 profitable years in a row build equity to €249k.
2020
31-12
Financial
Equity above €150kEq €177k ▲36.8%
3 profitable years in a row build equity to €177k.
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
Show earlier events
2019
31-12
Financial
Equity above €100kEq €129k ▲76.3%
2 profitable years in a row build equity to €129k.
11-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 72 days late
2018
04-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 65 days late
2017
15-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 46 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 22 acts read
About the unread acts
We know of 22 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
22 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 2013
Ground area
856 m²
Building footprint
131 m²
Volume, LiDAR
1,313 m³
2 parcels, Wallonia · tallest building 15.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CMF CONSTRUCTION
since 20132.223.336.109
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92021C0160/00S016 | Wallonia | 625 m² | 1 · 67 m² | 8.8 m · 3 fl. |
| 92094A0186/00L008 | Wallonia | 231 m² | 1 · 64 m² | 15.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 8,454 companies in sector 43120 we hold annual accounts for 3,231. 2,472 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-04-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43350Other building finishing work
43422Screed work
43910Bricklaying and masonry work
Scores and ratios are computed by Checked and are not a credit decision.