CPSE
ActiveSummary
CPSE has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €971k and a net result of €1k. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 40% of 435 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability69▲+15
Solvency66▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity ample (current ratio 12.53 against 8.7 in 2023; short-term debt: 2.8% and cash: 19.8% of total assets), but 59.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Sector 85
lower
← fewer bankruptcies
more bankruptcies →
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
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
40.5%
Return on assets
0%
Age of the figures
14 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-07-2025 was due by 28-02-2026 and was filed on 02-01-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2023
274 d late
2022
248 d late
2021
30 d late
2020
23 d late
2019
32 d early
2018
7 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-07-2026 and is due by 28-02-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-07-2026 close24-09-2026 today28-02-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1k
2023 · €-40k
2019: €65k
2020: €32k
2021: €31k
2022: €-34k
2023: €-40k
2019 → 2025
Working capital
€784k▲ 2.2%
2023 · €768k
2019: €745k
2020: €698k
2021: €746k
2022: €795k
2023: €768k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232025Trend
Equity€1.00M-€1.03M▲ 2.6%€1.01M▼ 1.6%€974k▼ 3.9%€971k▼ 0.3%
Operating result€43k-€38k▼ 13.1%€-29k€-38k▼ 29.7%€-5k▲ 87.5%
Net result€32k-€31k▼ 5.4%€-34k€-40k▼ 18.3%€1k
Result per fiscal year
Operating resultNet result
The operating result is €-5k in 2025, compared with €-38k in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €2.40M
Fixed assets
€1.54M ▼ 6.5%
Current assets
€852k ▼ 1.8%
Equity and liabilities €2.40M
Equity
€971k ▼ 0.3%
Provisions
€117k =
Debt
€1.31M ▼ 8.4%
Debt's share of the balance-sheet total falls from 56.7% to 54.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€117k▲
2023 · €73k
Cash flow
€123k▲
2023 · €71k
Current ratio
12.53▲
2023 · 8.70
Debt to equity
1.35▼
2023 · 1.47
ROE
0.1%▲
2023 · -4.1%
ROA
0.0%▲
2023 · -1.6%
Interest coverage
6.77▲
2023 · 4.51
Debt ≤ 1 year
€68k▼
2023 · €100k
Debt > 1 year
€1.10M▼
2023 · €1.21M
Income taxes
€0=
2023 · €0
Staff costs
€2.11M▼
2023 · €2.14M
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 2023 · 52 lines
Balance sheet
Code20232025
Assets
Total assets20/58€2.52M€2.40M▼
Fixed assets21/28€1.65M€1.54M▼
Tangible fixed assets22/27€1.65M€1.54M▼
Land and buildings22€1.61M€1.51M▼
Plant, machinery and equipment23€0€419▲
Furniture and vehicles24€46k€31k▼
Financial fixed assets28€2k€2k=
Current assets29/58€867k€852k▼
Amounts receivable within one year40/41€38k€21k▼
Trade receivables40€20k€19k▼
Other amounts receivable41€17k€3k▼
Current investments50/53€351k€351k=
Cash at bank and in hand54/58€461k€475k▲
Deferred charges and accrued income490/1€17k€5k▼
Equity and liabilities
Total equity and liabilities10/49€2.52M€2.40M▼
Equity10/15€974k€971k▼
Reserves13€30k€30k=
Profit (loss) carried forward14€878k€888k▲
Investment grants15€65k€53k▼
Provisions and deferred taxes16€117k€117k=
Provisions for liabilities and charges160/5€117k€117k=
Major repairs and maintenance162€90k€90k=
Environmental obligations163€13k€13k=
Other liabilities and charges164/5€15k€15k=
Amounts payable17/49€1.43M€1.31M▼
Amounts payable after more than one year17€1.21M€1.10M▼
Financial debts170/4€1.21M€1.10M▼
Amounts payable within one year42/48€100k€68k▼
Current portion of amounts payable after more than one year42€61k€55k▼
Trade debts44€30k€4k▼
Suppliers440/4€30k€4k▼
Taxes, remuneration and social security45€8k€9k▲
Taxes450/3€725€222▼
Remuneration and social security454/9€8k€9k▲
Accrued charges and deferred income492/3€116k€139k▲
Income statement
Code20232025
Non-recurring operating income76A€400-
Remuneration, social security and pensions62€2.14M€2.11M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€110k€121k▲
Non-recurring operating charges66A€12k€16k▲
Gross operating margin9900€2.22M€2.24M▲
Operating profit (loss)9901€-38k€-5k▲
Financial income75/76B€14k€23k▲
Recurring financial income75€12k€23k▲
Non-recurring financial income76B€2k-
Financial charges65/66B€16k€17k▲
Recurring financial charges65€16k€17k▲
Profit (loss) for the period before taxes9903€-40k€1k▲
Income taxes67/77€0€0=
Profit (loss) for the period9904€-40k€1k▲
Profit (loss) for the period to be appropriated9905€-40k€1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€878k€888k▲
Profit (loss) brought forward from the previous period14P€918k€887k▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-07
Financial
Back to profitnet €1k
Net result €1k after 2 loss-making years.
2024
29-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 274 days late
2023
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 248 days late
31-07
Financial
Weakest financial yearnet €-40k
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
23-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
31-07
Financial
Equity above €1MEq €1.00M ▲5.4%
2 profitable years in a row build equity to €1.00M.
28-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
21-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 194 days late
10-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 559 days late
2016
07-03
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Liège · 2 establishment units since 2007
Ground area
1,586 m²
Building footprint
346 m²
Volume, LiDAR
3,671 m³
Parcel 62302B0125/00Y020, Wallonia · tallest building 13.4 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
COURS POUR EDUCATEURS EN FONCTION
since 20072.167.078.780
COURS POUR EDUCATEURS EN FONCTION
since 20072.169.238.219
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62302B0125/00Y020 | Wallonia | 1,586 m² | 1 · 346 m² | 13.4 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Wallonia-Brussels Federation
2021 to 2025 · 34 entries · 201,193 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 13 | 48,816 EUR |
| 2024 | 17 | 67,127 EUR |
| 2023 | 3 | 62,216 EUR |
| 2021 | 1 | 23,034 EUR |
Budget allocations
Subventions forfaitaires
Provision pour la stratégie numérique dans l'enseignement
Initiatives dans le domaine de l’Enseignement pour adultes
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ACTION FRANCOPHONE POUR LA FORMATION
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Of 3,018 companies in sector 85592 we hold annual accounts for 987. 497 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded09-06-1983
Fiscal year end31-07
Activities, NACEBEL 2025
85592Vocational training
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.