CONDYCAN
ActiveSummary
CONDYCAN has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €160,752 and a net result of €12,125. Equity is growing by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 52% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72=
Solvency61▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.09 against 0.19 in 2024; short-term debt: 63.3% and cash: 4.1% of total assets), and 63.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
36.3%
Return on assets
2.7%
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
9 d early
2023
15 d early
2022
45 d early
2021
19 d early
2020
23 d early
2019
28 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€160,752▲ 8.2%
2024 · €148,627
Total assets
€442,480▼ 12.3%
2024 · €504,734
Net result
€12,125▼ 14.7%
2024 · €14,207
Working capital
-€254,432▲ 10.3%
2024 · -€283,609
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3,274€15,820▲ 383%€26,957▲ 70.4%€16,296▼ 39.5%€16,374▲ 0.5%
Net result€3,249€14,210▲ 337%€26,840▲ 88.9%€14,207▼ 47.1%€12,125▼ 14.7%
Equity€93,371▲ 3.6%€107,581▲ 15.2%€134,421▲ 24.9%€148,627▲ 10.6%€160,752▲ 8.2%
Total assets€489,544▲ 0.6%€463,651▼ 5.3%€497,499▲ 7.3%€504,734▲ 1.5%€442,480▼ 12.3%
Debt€396,173▼ 0.1%€356,070▼ 10.1%€363,079▲ 2.0%€356,107▼ 1.9%€281,729▼ 20.9%
Working capital-€361,433▲ 5.9%-€326,553▲ 9.7%-€320,443▲ 1.9%-€283,609▲ 11.5%-€254,432▲ 10.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 0% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €442,480
Fixed assets
€416,886 ▼ 4.4%
Current assets
€25,594 ▼ 62.7%
Equity and liabilities €442,480
Equity
€160,752 ▲ 8.2%
Debt
€281,729 ▼ 20.9%
Debt's share of the balance-sheet total falls from 70.6% to 63.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35,611▲
2024 · €35,533
Cash flow
€31,362▼
2024 · €33,444
Current ratio
0.09▼
2024 · 0.19
Debt to equity
1.75▼
2024 · 2.40
ROE
7.5%▼
2024 · 9.6%
ROA
2.7%▼
2024 · 2.8%
Interest coverage
171.38▼
2024 · 194.13
Debt ≤ 1 year
€280,026▼
2024 · €352,219
Debt > 1 year
€1,600▼
2024 · €3,800
Income taxes
€4,042▲
2024 · €1,906
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,154 | €18,154 | €18,299 | €19,237 | €19,237 | = |
| Other operating charges640/8 | €3,980 | €4,098 | €4,478 | €4,631 | €4,776 | ▲ 3.1% |
| Gross operating margin9900 | €25,408 | €38,072 | €49,734 | €40,164 | €40,387 | ▲ 0.6% |
| Operating profit (loss)9901 | €3,274 | €15,820 | €26,957 | €16,296 | €16,374 | ▲ 0.5% |
| Financial charges65/66B | €25 | €1,611 | €117 | €183 | €208 | ▲ 13.5% |
| Recurring financial charges65 | €25 | €1,611 | €117 | €183 | €208 | ▲ 13.5% |
| Profit (loss) for the period before taxes9903 | €3,249 | €14,210 | €26,840 | €16,113 | €16,166 | ▲ 0.3% |
| Income taxes67/77 | - | - | - | €1,906 | €4,042 | ▲ 112% |
| Profit (loss) for the period9904 | €3,249 | €14,210 | €26,840 | €14,207 | €12,125 | ▼ 14.7% |
| Profit (loss) for the period to be appropriated9905 | €3,249 | €14,210 | €26,840 | €14,207 | €12,125 | ▼ 14.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €489,544 | €463,651 | €497,499 | €504,734 | €442,480 | ▼ 12.3% |
| Fixed assets21/28 | €459,311 | €441,157 | €455,360 | €436,123 | €416,886 | ▼ 4.4% |
| Tangible fixed assets22/27 | €459,311 | €441,157 | €455,360 | €436,123 | €416,886 | ▼ 4.4% |
| Land and buildings22 | €459,311 | €441,157 | €455,360 | €436,123 | €416,886 | ▼ 4.4% |
| Current assets29/58 | €30,233 | €22,494 | €42,139 | €68,610 | €25,594 | ▼ 62.7% |
| Amounts receivable within one year40/41 | - | €5,455 | €0 | €5,656 | €6,552 | ▲ 15.8% |
| Trade receivables40 | - | €5,455 | €0 | €62 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €5,594 | €6,552 | ▲ 17.1% |
| Cash at bank and in hand54/58 | €26,994 | €13,826 | €40,940 | €61,769 | €18,159 | ▼ 70.6% |
| Deferred charges and accrued income490/1 | €3,239 | €3,213 | €1,199 | €1,186 | €883 | ▼ 25.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €489,544 | €463,651 | €497,499 | €504,734 | €442,480 | ▼ 12.3% |
| Equity10/15 | €93,371 | €107,581 | €134,421 | €148,627 | €160,752 | ▲ 8.2% |
| Contributions10/11 | €138,600 | €138,600 | €138,600 | €138,600 | €138,600 | = |
| Reserves13 | €1,851 | - | - | - | - | - |
| Distributable reserves133 | €1,851 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€47,080 | -€31,019 | -€4,179 | €10,027 | €22,152 | ▲ 121% |
| Amounts payable17/49 | €396,173 | €356,070 | €363,079 | €356,107 | €281,729 | ▼ 20.9% |
| Amounts payable after more than one year17 | €2,400 | €2,400 | €0 | €3,800 | €1,600 | ▼ 57.9% |
| Other amounts payable178/9 | €2,400 | €2,400 | €0 | €3,800 | €1,600 | ▼ 57.9% |
| Amounts payable within one year42/48 | €391,666 | €349,047 | €362,582 | €352,219 | €280,026 | ▼ 20.5% |
| Trade debts44 | €382 | €1,047 | €12,182 | €4,219 | €26 | ▼ 99.4% |
| Suppliers440/4 | €382 | €1,047 | €12,182 | €4,219 | €26 | ▼ 99.4% |
| Other amounts payable47/48 | €391,283 | €348,000 | €350,400 | €348,000 | €280,000 | ▼ 19.5% |
| Accrued charges and deferred income492/3 | €2,107 | €4,624 | €497 | €88 | €102 | ▲ 16.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,249 | €14,210 | €26,840 | €14,207 | €12,125 | ▼ 14.7% |
| + Depreciation and write-downs630 | €18,154 | €18,154 | €18,299 | €19,237 | €19,237 | = |
| Operating cash flow (approximation) | €21,403 | €32,363 | €45,138 | €33,444 | €31,362 | ▼ 6.2% |
| Investment in fixed assets (approximation) | - | €0 | -€32,502 | €0 | €0 | - |
| Change in cash | - | -€13,168 | €27,114 | €20,828 | -€43,610 | ▼ 309% |
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
State Gazette act
Appointments: Quentin Impens (director) and Antonio Cerullo (director)3 facts ▸
State Gazette act
Appointments: Quentin Impens (director) and Antonio Cerullo (director)
3 facts ▸
- General meeting, 24-08-2026
- Director appointment, Quentin Impens (director)
- Director appointment, Antonio Cerullo (director)
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €150,000Eq €160,752 ▲8.2%
5 profitable years in a row build equity to €160,752.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €26,840 ▲88.9%
Operating result €26,957, net result €26,840, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100,000Eq €107,581 ▲15.2%
2 profitable years in a row build equity to €107,581.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €3,249
Net result €3,249 after 3 loss-making years.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
Show earlier events
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
12-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 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
Antonio Cerullo
CurrentDirector · since 24-08-2026
Quentin Impens
CurrentDirector · since 24-08-2026
24-08-2026
Antonio Cerullo: Appointed as Director
24-08-2026
Quentin Impens: Appointed as Director
Not every act has been read: a resignation may be missing here
5 of this company's 6 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, Brussel · 1 establishment unit since 1992
Ground area
3,060 m²
Building footprint
176 m²
Volume, LiDAR
747 m³
Parcel 21815D0004/00P006, Brussels · tallest building 9.3 m, ±1 floor. Linked by address, not a title deed.
22
companies at this address
See who is registered here
1 establishment unit
Laneaustraat 119-133, 1020 Brussel
since 19922.102.874.084
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21815D0004/00P006 | Brussels | 3,060 m² | 1 · 175 m² | 9.2 m · 1 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.
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Of 4,238 companies in sector 47789 we hold annual accounts for 1,019. 811 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
Founded04-09-1992
Fiscal year end31-12
Activities, NACEBEL 2025
47789Other retail sale of new goods
Scores and ratios are computed by Checked and are not a credit decision.