CMSVG
ActiveFrom the official registers: KBO 20 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of CMSVG is 3.6% (moderate). The 2025 annual accounts show equity of €22,423 and a net result of €57,143. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 25% of 4,785 sector peers (NACE 56, financial year 2025). The company has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
KBO- Status
- Active since 07-12-2005 Normal situation
- Activity
- Full-service restaurants NACE 56111and 2 others
- Establishment unit
- 2.167.344.442 2440 Geel, since 07-12-2005
- Financial year end
- 31 December
- Peppol
- Reachable since 03-12-2025
Board and ownership
- CAFO BVDirector · since 10-02-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 3.6%
- Gross margin
- €1.1m
- ▼ 3.7%
- Turnover
- ≈ €1.8m
- estimated
- Profit
- €57,143
- Equity
- €22,423
- Total assets
- €428,139
- ▼ 20.1%
- Staff
- 34.8 FTE
- ▼ 5.7%
Score breakdownraises risk1 of the last 3 accounts late1 change of registered office in 24 monthsSector: Food and beverage service activities (NACE 56)Equity €22,423 (5.2% of total assets)Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 56, small). It does better than 20% of them on solvency, 2% on liquidity, 34% on profitability and 96% on growth.
The bankruptcy probability was computed on 31-10-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 13 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 20 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a profit of €34,642, after a loss of €2,655 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Comparable companies
These companies have the same main activity as CMSVG: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €512,000 and €667,000, founded between 2001 and 2008.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| CMSVG Geel | 2005 | €0.4m | €0.02m | €1.1m | - | €0.06m | 34.8 | 2025 |
| PEDAVI Blankenberge | 2001 | €0.5m | €0.2m | €1.0m | - | €0.3m | 27.5 | 2025 |
| LOTELING SCHILDE Schilde | 2004 | €0.7m | €0 | €1.8m | - | €0.1m | 33.3 | 2024 |
| JAWI Antwerpen | 2008 | €0.5m | €0.3m | €0.8m | €1.9m | €0.06m | 22.6 | 2025 |
| 'T VOORHUYS Antwerpen | 2002 | €0.6m | €0.1m | €1.3m | - | €0.1m | 24 | 2025 |
| NEW LARGO Ukkel | 2002 | €0.6m | €0.4m | €1.1m | - | -€0.02m | 27.8 | 2025 |
| TRAITEUR : LA TRUITE D'ARGENT Tournai | 2001 | €0.5m | -€0.06m | €0.8m | - | -€0.1m | 26.8 | 2026 |
They were chosen from the 12,110 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 496 companies had the same profile as CMSVG has now. Two years later, 1.2% had gone bankrupt and 95.4% were still going.
- Small
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CMSVG itself is higher: 3.6% within 12 months. It rests on far more data about CMSVG than the profile alone.
Test of the method
The method was tested on the 497,445 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 496 companies, not a prediction for CMSVG. 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.
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €3,665 awarded · €3,665 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,000 | €1,000 |
| 2024 | 1 | €266 | €266 |
| 2023 | 1 | €266 | €266 |
| 2022 | 1 | €2,133 | €2,133 |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.002m | €0 | €0.02m | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.8m | €1.0m | €1.1m | €1.0m | ▼ 7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.09m | €0.07m | €0.04m | €0.02m | €0.02m | €0.02m | ▲ 9.2% |
| Other operating charges640/8 | - | - | - | €0.004m | €0.007m | €0.01m | €0.008m | €0.01m | ▲ 17.0% |
| Non-recurring operating charges66A | - | - | - | €0.02m | €0 | €247 | €0 | - | - |
| Gross operating margin9900 | €1.0m | €0.9m | €0.6m | €0.8m | €0.7m | €0.9m | €1.1m | €1.1m | ▼ 3.7% |
| Operating profit (loss)9901 | €0.06m | -€0.2m | €0.08m | €0.2m | -€0.1m | -€0.09m | -€0.003m | €0.03m | - |
| Financial income75/76B | - | - | - | €0.007m | €0.006m | €0.007m | €0.009m | €0.04m | ▲ 419% |
| Recurring financial income75 | €0.002m | €0.02m | €0.02m | €0.007m | €0.006m | €0.007m | €0.009m | €0.04m | ▲ 419% |
| Financial charges65/66B | - | - | - | €0.008m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 4.1% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.01m | €0.008m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 4.1% |
| Profit (loss) for the period before taxes9903 | €0.05m | -€0.2m | €0.09m | €0.2m | -€0.1m | -€0.1m | -€0.02m | €0.06m | - |
| Income taxes67/77 | €0.001m | €0.001m | €0.001m | €0.003m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 28.0% |
| Profit (loss) for the period9904 | €0.05m | -€0.2m | €0.08m | €0.2m | -€0.2m | -€0.1m | -€0.02m | €0.06m | - |
| Profit (loss) for the period to be appropriated9905 | €0.05m | -€0.2m | €0.08m | €0.2m | -€0.2m | -€0.1m | -€0.02m | €0.06m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €758,776 | €737,295 | €583,856 | €788,522 | €589,570 | €489,011 | €535,564 | €428,139 | ▼ 20.1% |
| Fixed assets21/28 | €277,235 | €267,814 | €183,368 | €118,449 | €108,057 | €97,263 | €141,723 | €97,259 | ▼ 31.4% |
| Tangible fixed assets22/27 | €277,085 | €267,664 | €183,218 | €118,299 | €107,907 | €91,113 | €141,073 | €96,609 | ▼ 31.5% |
| Land and buildings22 | - | - | - | €47,523 | €37,267 | €31,841 | €29,256 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €19,062 | €10,834 | €7,448 | €33,256 | €24,920 | ▼ 25.1% |
| Furniture and vehicles24 | - | - | - | €18,313 | €14,779 | €10,611 | €8,007 | €6,204 | ▼ 22.5% |
| Other tangible fixed assets26 | - | - | - | €33,400 | €45,027 | €41,213 | €70,554 | €65,485 | ▼ 7.2% |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | €6,150 | €650 | €650 | = |
| Current assets29/58 | €481,541 | €469,481 | €400,488 | €670,073 | €481,513 | €391,749 | €393,842 | €330,880 | ▼ 16.0% |
| Stocks and contracts in progress3 | €59,495 | €49,654 | €59,317 | €63,895 | €100,573 | €195,250 | €233,921 | €239,455 | ▲ 2.4% |
| Stocks30/36 | - | - | - | €63,895 | €100,573 | €195,250 | €233,921 | €239,455 | ▲ 2.4% |
| Amounts receivable within one year40/41 | €181,990 | €328,403 | €292,919 | €105,823 | €171,332 | €47,028 | €56,950 | €72,654 | ▲ 27.6% |
| Trade receivables40 | - | - | - | €34,489 | €36,804 | €31,388 | €31,873 | €27,682 | ▼ 13.1% |
| Other amounts receivable41 | - | - | - | €71,334 | €134,528 | €15,640 | €25,077 | €44,972 | ▲ 79.3% |
| Cash at bank and in hand54/58 | €229,803 | €78,839 | €46,797 | €495,932 | €194,570 | €147,571 | €101,763 | €14,225 | ▼ 86.0% |
| Deferred charges and accrued income490/1 | - | - | - | €4,422 | €15,038 | €1,899 | €1,208 | €4,546 | ▲ 276% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €758,776 | €737,295 | €583,856 | €788,522 | €589,570 | €489,011 | €535,564 | €428,139 | ▼ 20.1% |
| Equity10/15 | €163,552 | -€60,505 | €23,923 | €231,633 | €80,991 | -€17,138 | -€34,333 | €22,423 | - |
| Contributions10/11 | €168,600 | €168,600 | - | €168,600 | €168,600 | €168,600 | €168,600 | €168,600 | = |
| 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 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€6,908 | -€230,965 | -€146,537 | €61,173 | -€89,469 | -€187,598 | -€204,793 | -€148,037 | ▲ 27.7% |
| Amounts payable17/49 | €595,224 | €797,800 | €559,934 | €556,889 | €508,579 | €506,150 | €569,897 | €405,716 | ▼ 28.8% |
| Amounts payable after more than one year17 | €74,023 | €47,883 | €87,166 | €188,248 | €116,433 | €104,392 | €93,106 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €188,248 | €116,433 | €104,392 | €93,106 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €521,201 | €745,920 | €472,658 | €368,641 | €390,462 | €401,569 | €469,991 | €405,716 | ▼ 13.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €92,241 | €144,311 | €102,041 | €11,286 | €18,230 | ▲ 61.5% |
| Financial debts43 | - | - | - | €108,687 | €5,897 | €9,170 | €18,533 | €12,382 | ▼ 33.2% |
| Credit institutions430/8 | - | - | - | €108,687 | €5,897 | €9,170 | €18,533 | €12,382 | ▼ 33.2% |
| Trade debts44 | €139,575 | €263,852 | €134,742 | €94,455 | €119,821 | €132,150 | €150,145 | €180,377 | ▲ 20.1% |
| Suppliers440/4 | - | - | - | €94,455 | €119,821 | €132,150 | €150,145 | €180,377 | ▲ 20.1% |
| Taxes, remuneration and social security45 | - | - | - | €73,258 | €95,912 | €102,681 | €134,631 | €107,585 | ▼ 20.1% |
| Taxes450/3 | - | - | - | €21,138 | €24,450 | €24,296 | €27,679 | €17,747 | ▼ 35.9% |
| Remuneration and social security454/9 | - | - | - | €52,120 | €71,462 | €78,385 | €106,952 | €89,839 | ▼ 16.0% |
| Other amounts payable47/48 | - | - | - | €0 | €24,521 | €55,526 | €155,396 | €87,142 | ▼ 43.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | €1,684 | €190 | €6,801 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,411 | -€224,057 | €84,428 | €207,710 | -€150,641 | -€98,130 | -€17,194 | €57,143 | - |
| + Depreciation and write-downs630 | €95,570 | €99,574 | €85,722 | €72,260 | €37,752 | €24,121 | €21,577 | €23,567 | ▲ 9.2% |
| Operating cash flow (approximation) | €140,981 | -€124,483 | €170,150 | €279,970 | -€112,890 | -€74,009 | €4,383 | €80,710 | ▲ 18× |
| Investment in fixed assets (approximation) | - | -€90,154 | -€1,277 | -€7,340 | -€27,360 | -€13,326 | -€66,037 | €20,897 | - |
| Change in cash | - | -€150,964 | -€32,042 | €449,135 | -€301,362 | -€46,999 | -€45,808 | -€87,538 | ▼ 91.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 06-07-2026 | 2026-00281119 | NBB |
| 31-12-2024 | abbreviated format | 30-09-2025 | 2025-00527108 | |
| 31-12-2023 | abbreviated format | 05-07-2024 | 2024-00231252 | |
| 31-12-2022 | abbreviated format | 27-07-2023 | 2023-00279084 | |
| 31-12-2021 | abbreviated format | 26-08-2022 | 2022-20330134 | |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-45300371 | |
| 31-12-2019 | abbreviated format | 30-09-2020 | 2020-58600033 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-61600282 | |
| 31-12-2017 | abbreviated format | 28-09-2018 | 2018-66800520 | |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-51000235 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerChain of control
- CAFO
- CMSVG
Owners 1
- CAFOparentSourceaccounts CAFO 2025100%
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bestuursorgaan, 1”“Vaste of evenredige vergoeding, vergoeding bestuurders”
Articles of association, deed of 24-02-2023 (in Dutch)
Network & group
Connections & network
1 current directorThe network starts from the directors of CMSVG. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
16-09
Gazette deed
Permanent representative: Cedric MertensRegistered-office move3 points ▸
- Board meeting, 22-08-2025
- Registered-office move, Markt 52, 2440 Geel
- Permanent representative, Cedric Mertens
24-02
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsCapital conversion3 points ▸
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “van rechtswege omgezet, artikel 39,§2,tweede lid,wet 23-03-2019” (deed in Dutch)
- Capital conversion, “opheffing, volledig” (deed in Dutch)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 20259 activities
- Het uitbaten van een restaurant met inbegrip van eet en drankgelegenheid,en het inrichten en verzorgen van eet-en feestmalen,binnen-en buitenshuis.
- Het uitbaten van een bar,café,herberg,taverne,het schenken van dranken,zowel alcoholische als niet alcoholische,de verkoop van tabak,sigaren,sigaretten en suikergoedwaren.
- Het uitbaten van een restaurant,met levering van spijzen en dranken en het inrichten en verzorgen van banketten,feesten.
- Het uitbaten van een tearoom,snackbar,cafétaria,houdende levering van lichte maaltijden,versnaperingen,gebak,wafels,pannenkoeken,roomijs,consumptieijs en belegde broodjes.
- Het uitbaten van drankgelegenheid,met organisatie van degustaties van wijnen en andere dranken,ontspanningsgelegenheid,roepzaal en verhuring van divers materiaal.
- Het inrichten van vertoningen,cabaret,dancing,het ter beschikking stellen van het etablissement als feestzaal.
- Het uitbaten van een horecabedrijf in de meest uitgebreide zin van het woord.
- Het produceren,vervaardigen of laten vervaardigen,uitbaten,verhandelen,invoeren en uitvoeren van alle goederen,producten,materialen,materieel en diensten die verband houden met haar voorwerp.
- Groot en kleinhandel in wijnen,likeuren,tabak,sigaren,sigaretten,en confiserie.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteDual-learning approval
5 live approvals · 5 endedShow 5 ended approvals
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13008H0485/00A000 | Flanders | 275 m² | 1 · 463 m² | 14.9 m · 2 |