CN MANAGEMENT
ActiveSummary
CN MANAGEMENT has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€21,412) and a net result of -€24,412. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 8% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 10-01-2022 Normal situation
- Registered office
- 12 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.326.666.150 1050 Brussel, since 10-01-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 30-12-2025
Board and ownership
- CAMENSCHI IurieDirector · since 27-12-2021
- CAMENSCHI NicolaeDirector · since 27-12-2021
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.5%
- Gross margin
- €147,635
- ▼ 0.2%
- Turnover
- ≈ €240,000
- estimated
- Loss
- €24,412
- Equity
- -€21,412
- Total assets
- €233,169
- ▼ 45.4%
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equity1 change of registered office in 24 monthsNegative equity -€21,412lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €233,169Show the evidence
Checked score
About 1 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 70, micro). It does better than 7% of them on solvency, 2% on liquidity, 11% on profitability and 3% on growth.
The bankruptcy probability was computed on 02-11-2026 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 4 accounts on average 19 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 19-06-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is 12% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €86,743 | - | - |
| Depreciation and write-downs of the year | - | €1,426 | €21,686 | €0 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,426 | €21,686 | €0 | ▼ 100% |
| Other operating charges640/8 | €1,013 | €1,290 | €632 | €7,591 | ▲ 12× |
| Non-recurring operating charges66A | - | - | - | €29,332 | - |
| Gross operating margin9900 | €118,365 | €98,499 | €147,943 | €147,635 | ▼ 0.2% |
| Operating profit (loss)9901 | €117,353 | €95,783 | €125,626 | €110,711 | ▼ 11.9% |
| Financial income75/76B | - | €124 | €848 | €300 | ▼ 64.6% |
| Recurring financial income75 | - | €124 | €848 | €300 | ▼ 64.6% |
| Financial charges65/66B | €245 | €657 | €70,185 | €134,824 | ▲ 92.1% |
| Recurring financial charges65 | €245 | €657 | €70,185 | €134,824 | ▲ 92.1% |
| Non-recurring financial charges66B | - | - | - | €0 | - |
| Profit (loss) for the period before taxes9903 | €117,108 | €95,250 | €56,288 | -€23,812 | - |
| Income taxes67/77 | €24,438 | €19,345 | €11,870 | €600 | ▼ 94.9% |
| Profit (loss) for the period9904 | €92,670 | €75,905 | €44,419 | -€24,412 | - |
| Profit (loss) for the period to be appropriated9905 | €92,670 | €75,905 | €44,419 | -€24,412 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €188,992 | €420,747 | €426,848 | €233,169 | ▼ 45.4% |
| Fixed assets21/28 | - | €85,317 | €63,631 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | €85,317 | €63,631 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €85,317 | €63,631 | €0 | ▼ 100% |
| Current assets29/58 | €188,992 | €335,431 | €363,217 | €233,169 | ▼ 35.8% |
| Amounts receivable within one year40/41 | €187,261 | €325,060 | €351,223 | €217,535 | ▼ 38.1% |
| Trade receivables40 | €1,157 | €0 | €77,195 | €7,303 | ▼ 90.5% |
| Other amounts receivable41 | €186,104 | €325,060 | €274,028 | €210,232 | ▼ 23.3% |
| Cash at bank and in hand54/58 | €1,086 | €6,160 | €7,248 | €2,011 | ▼ 72.2% |
| Deferred charges and accrued income490/1 | €645 | €4,211 | €4,746 | €13,622 | ▲ 187% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €188,992 | €420,747 | €426,848 | €233,169 | ▼ 45.4% |
| Equity10/15 | €95,670 | €171,575 | €215,993 | -€21,412 | - |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €92,670 | €168,575 | €212,993 | -€24,412 | - |
| Amounts payable17/49 | €93,322 | €249,173 | €210,855 | €254,581 | ▲ 20.7% |
| Amounts payable after more than one year17 | - | €62,205 | €30,443 | €0 | ▼ 100% |
| Financial debts170/4 | - | €62,205 | €30,443 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €93,322 | €186,968 | €170,578 | €254,581 | ▲ 49.2% |
| Current portion of amounts payable after more than one year42 | - | €30,317 | €31,762 | €30,443 | ▼ 4.2% |
| Financial debts43 | - | - | - | €32,845 | - |
| Credit institutions430/8 | - | - | - | €32,845 | - |
| Trade debts44 | €2,655 | €53,154 | €27,115 | €18,204 | ▼ 32.9% |
| Suppliers440/4 | €2,655 | €53,154 | €27,115 | €18,204 | ▼ 32.9% |
| Taxes, remuneration and social security45 | €43,454 | €61,444 | €39,539 | €29,292 | ▼ 25.9% |
| Taxes450/3 | €43,454 | €61,444 | €39,539 | €29,292 | ▼ 25.9% |
| Other amounts payable47/48 | €47,213 | €42,053 | €72,163 | €143,798 | ▲ 99.3% |
| Accrued charges and deferred income492/3 | - | - | €9,834 | €0 | ▼ 100% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,670 | €75,905 | €44,419 | -€24,412 | - |
| + Depreciation and write-downs630 | - | €1,426 | €21,686 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €92,670 | €77,331 | €66,104 | -€24,412 | - |
| Investment in fixed assets (approximation) | - | - | €0 | €63,631 | - |
| Change in cash | - | €5,074 | €1,089 | -€5,237 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as CN MANAGEMENT has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CN MANAGEMENT itself is lower: 1.5% within 12 months. It rests on far more data about CN MANAGEMENT than the profile alone.
Test of the method
The method was tested on the 497,446 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 7,639 companies, not a prediction for CN MANAGEMENT. 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.
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- end not dated
| Name | Functions and periods |
|---|---|
| CAMENSCHI Iurie |
|
| CAMENSCHI Nicolae |
|
| CAMENSCHI Iure |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “2”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Articles of association, deed of 12-01-2022 (in French)
Network & group
Board mandates elsewhere
2 board mandatesCompanies at the same address
11 other companies- Devel, Simon (sole trader) Establishment · since 2026 1042115441
- Fédérations des Marchands Immobiliers Belgique Registered office · since 2025 1027398759
- CYGO-Renov Registered office · since 2023 1001603093
- CYGO-Terra Registered office · since 2023 1001602501
- KPM Properties Registered office · since 2023 0804314793
- MP EMPIRE AGENCY Registered office · since 2023 0795462554
- Jabry, Sana (sole trader) Establishment · since 2023 0797825790
- LOISA CONSULTING Establishment · since 2019 0726438344
- C.N.G. INVESTMENT Registered office · since 2017 0677871038
- MANGOO PICKLE Establishment · since 2017 0554721422
Connections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
25-09
Gazette deed
Registered office moved from Laeken to BruxellesNew seat: 1000 Bruxelles, Avenue Louise 123 · Previous seat: 1020 Laeken (Bruxelles-Ville), Avenue de la Reine 2342 points ▸
- General meeting, 03-06-2025
- Registered-office move, 1000 Bruxelles, Avenue Louise 123
12-01
Gazette deed
IncorporationAppointments: CAMENSCHI Iure (director) and CAMENSCHI Nicolae (director) · Founder · Founding capital9 points ▸
- Incorporation, 27-12-2021
- Founder, CAMENSCHI Iurie (comparant)
- Founder, CAMENSCHI Nicolae (comparant)
- Founding capital, €3,000
- Bank account, “société en formation, dépôt des apports en espèces” (deed in French)
- Registered office clause, “1020 Bruxelles (Laeken), avenue de la Reine 234” (deed in French)
- Director appointment, CAMENSCHI Iure (director (not named in the articles))
- Director appointment, CAMENSCHI Nicolae (director (not named in the articles))
- Pre-incorporation commitments, “takeover, tous engagements et obligations et toutes activités entreprises par l’un ou l’autre des comparants au nom et pour compte de la société en formation” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- 1020 Laeken (Bruxelles-Ville) until 03-06-2025 · act of 25-09-2025
Activities
NACEBEL 2025Codes under NACEBEL 2008
8 activities
- La gestion en général et l’exercice de toutes activités de services et de management au sens le plus large du terme,à toutes personnes physiques ou morales quelconques ; exécuter tous mandats sous forme d’études d’organisations,d’expertises,d’actes et de conseils techniques ou autres dans tout domaine ; toute contribution à l’établissement et au développement d’entreprises et en particulier de dispenser des avis financiers,techniques,commerciaux,industriels ou administratifs dans le sens le plus large du terme,fournir des conseils,assistances,agir en tant qu’intermédiaire,exécuter des services sur le plan de l’administration et des finances,de la vente,de la production,des techniques d’organisation et de distribution commerciale,industriels,... L’achat,l’administration,la vente de toutes valeurs mobilières et immobilières,de tous droits sociaux et d’une manière plus générale toutes opérations de gestion du portefeuille ainsi constitué,la constitution et la valorisation d’un patrimoine immobilier,fournir des prestations de services en tant que cabinet-conseil. Toutes opérations en affaire industrielle et d’agent commercial dans le cadre de conseils en intermédiation et facilitation de projets
- L'acquisition,la gestion,la cession et la location sous toute forme,de biens immobiliers;
- L'acquisition,la gestion et la vente (cession) de participations dans d'autres sociétés tant en Belgique qu'à l'étranger;
- La mise à disposition de firmes et sociétés,qu'elle y détienne ou non des parts,de : prêts ; services d'assistance et de conseil dans les domaines de la gestion financière,sociale,fiscale,administrative et informatique et en matière d'opérations fiduciaires,pour autant que la loi l'autorise ; tous les services de nature commerciale tant pour son propre compte qu'au nom de tierces parties. Ceci englobe les services financiers,administratifs,techniques et sociaux,accompagnés par la gestion,l'assistance et les conseils,pour autant que la loi l'autorise;
- La réalisation d'études de divers problèmes en rapport avec l'établissement et la mise en œuvre de projet de tout type,tant en Belgique qu'à l'étranger,de nature administrative,organisationnelle,financière,légale,planographique ou technique,et toutes activités connexes,pour autant que la loi l'autorise ; la société peut fournir des services sous quelque forme que ce soit,à toutes personnes physiques ou morales,et peut également mener des transactions financières connexes.
- La réalisation de toutes opérations de gestion,l'exécution de mandats et fonctions en rapport direct ou indirect avec l'objet de la société,
- L'acquisition,l'utilisation et le traitement de brevets,licences,royalties et marques commerciales;
- L'exécution de toutes transactions pour commission ou en tant que courtier,y compris toute action comme garant ou caution ; elle peut également agir en tant que garant pour des tierces parties ou porter comme garant,accorder des avances ou des prêts,et octroyer des hypothèques et autres garanties.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0059/00M003 | Brussels | 353 m² | 1 · 355 m² | 28.1 m · 7 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.