CQS
ActiveSummary
CQS has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €110,909 and a net result of €30,104. Equity has been growing by about 3.5% per year since 2018. Its solvency ranks better than 71% of 257 sector peers (NACE 27, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-03-2007 Normal situation
- Registered office
- 35 active companies are registered at this address 4 started in the 12 months before. Source: KBO register, as of 4 November 2026.
- Activity
- Manufacture of electrical equipment NACE 27510and 1 other
- Joint committee
- 149.01 Paritair Subcomité voor de elektriciens: installatie en distributie · annual accounts 2022
- Establishment unit
- 2.165.202.524 7850 Enghien, since 01-04-2007
- Financial year end
- 31 December
- Peppol
- Reachable since 30-08-2023
Board and ownership
Board
- L’HOIR Johnny Gilles GustaveDirector · since 29-03-2007
- TIEST Antoine Louis Pierre Bernard ChrisDirector · since 29-09-2023
Shareholders
- L’HOIR Johnny Gilles Gustave60 sharesact of 09-10-2023
- TIEST Antoine Louis Pierre Bernard Chris40 sharesact of 09-10-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- €68,936
- ▲ 62.7%
- Turnover
- ≈ €210,000
- estimated
- Profit
- €30,104
- ▲ 491%
- Equity
- €110,909
- ▲ 22.1%
- Total assets
- €161,086
- ▲ 7.4%
- Employees on 31-12-2025
- 1
- =
- 2025 accounts filed 11 days after the deadline
Score breakdownraises riskLast filed accounts filed 11 days late; 1 of the last 3 accounts latelowers riskLiquidity: current ratio 3.13, cash €32,713Founded in 2007Equity €110,909 (68.9% of total assets)Show the evidence
Checked score
Score 2025
96
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 74% of micro companies in electrical equipment (NACE 27)
Financial strength · tick: 2024
Strong
Solvency
94+8
equity 68.9% of total assets
Liquidity
67+10
short-term debt 24.0% · cash 20.3%
Profitability
92+31
return on assets 18.7%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 5.9%
01-2025: 9.9%▲ +4.0 percentage points vs 12-2024highest value
02-2025: 3.5%▼ -6.4 percentage points vs 01-2025
03-2025: 3.5%● unchanged vs 02-2025
04-2025: 3.7%▲ +0.2 percentage points vs 03-2025
05-2025: 3.6%▼ -0.1 percentage points vs 04-2025
06-2025: 3.4%▼ -0.2 percentage points vs 05-2025
07-2025: 3.5%▲ +0.1 percentage points vs 06-2025
08-2025: 3.9%▲ +0.4 percentage points vs 07-2025
09-2025: 4.7%▲ +0.8 percentage points vs 08-2025
10-2025: 0.8%▼ -3.9 percentage points vs 09-2025
11-2025: 0.3%▼ -0.5 percentage points vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.3 percentage points vs 07-2026
09-2026: 0.1%▼ -0.5 percentage points vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Credit of up to €10,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.13 (2.59 in 2024), above the usual 1.5. Short-term debt is 24% and cash 20.3% of total assets. 31.1% of the assets are financed with debt and provisions.
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 27, micro). It does better than 71% of them on solvency, 70% on liquidity, 82% on profitability and 74% on growth.
The bankruptcy probability was computed on 04-11-2026 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).
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 11 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
11 days late
2024
29 days late
2023
156 days late
2022
64 days late
2021
5 days late
2020
27 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 46 days after the deadline. In the sector (NACE 27), the median for financial year 2024 was 6 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 35 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 11 days after the deadline Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00392928.
Annual accounts 2025 filed on 11-08-2026 at the NBB all 19 filings
Turnover
≈ €210,000
Estimated: probably between €140,000 and €360,000
EBIT margin
Not included in this filing
Net result
€30,104▲ 491%
2024 · €5,096
Working capital
€82,263▲ 39.8%
2024 · €58,829
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€44,669
▲ 331%
2025
20182025
Net result
€30,104
▲ 491%
2025
middle half of the sector
20182025
Equity
€110,909
▲ 22.1%
2025
middle half of the sector
20182025
Total assets
€161,086
▲ 7.4%
2025
middle half of the sector
20182025
Debt
€50,177
▼ 15.3%
2025
20182025
Working capital
€82,263
▲ 39.8%
2025
middle half of the sector
20182025
Solvency
68.9%
▲ 8.3pp
2025
middle half of the sector
20182025
Current ratio
3.13
▲ 0.54
2025
middle half of the sector
20182025
Return on assets (ROA)
18.7%
▲ 15.3pp
2025
highest quarter of the sector
20182025
Staff (FTE)
0.6
▼ 25.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€23,545-€18,779▼ 20.2%-€34,738€24,739€24,377▼ 1.5%-€25,184€10,374€44,669▲ 331%
Net result€15,050-€15,495▲ 3.0%-€38,679below the sector's middle half€29,254within the sector's middle half€8,666within the sector's middle half▼ 70.4%-€8,149below the sector's middle half€5,096within the sector's middle half€30,104within the sector's middle half▲ 491%
Equity€79,123-€94,618▲ 19.6%€55,939below the sector's middle half▼ 40.9%€85,193below the sector's middle half▲ 52.3%€93,859below the sector's middle half▲ 10.2%€85,710within the sector's middle half▼ 8.7%€90,806within the sector's middle half▲ 5.9%€110,909within the sector's middle half▲ 22.1%
Total assets€139,632-€164,958▲ 18.1%€184,047below the sector's middle half▲ 11.6%€191,244below the sector's middle half▲ 3.9%€177,597below the sector's middle half▼ 7.1%€177,617within the sector's middle half=€150,020within the sector's middle half▼ 15.5%€161,086within the sector's middle half▲ 7.4%
Debt€60,509-€70,340▲ 16.2%€128,108▲ 82.1%€106,051▼ 17.2%€83,738▼ 21.0%€91,908▲ 9.8%€59,214▼ 35.6%€50,177▼ 15.3%
Working capital€76,778-€81,239▲ 5.8%€39,700below the sector's middle half▼ 51.1%€70,600below the sector's middle half▲ 77.8%€86,997within the sector's middle half▲ 23.2%€54,540within the sector's middle half▼ 37.3%€58,829within the sector's middle half▲ 7.9%€82,263within the sector's middle half▲ 39.8%
Solvency56.7%-57.4%▲ 0.7pp30.4%within the sector's middle half▼ 27.0pp44.5%within the sector's middle half▲ 14.2pp52.8%within the sector's middle half▲ 8.3pp48.3%within the sector's middle half▼ 4.6pp60.5%within the sector's middle half▲ 12.3pp68.9%within the sector's middle half▲ 8.3pp
Current ratio2.28-2.45▲ 0.171.38within the sector's middle half▼ 1.071.78within the sector's middle half▲ 0.402.12within the sector's middle half▲ 0.341.96within the sector's middle half▼ 0.162.59within the sector's middle half▲ 0.633.13within the sector's middle half▲ 0.54
Return on assets (ROA)10.8%-9.4%▼ 1.4pp-21.0%below the sector's middle half▼ 30.4pp15.3%above the sector's middle half▲ 36.3pp4.9%within the sector's middle half▼ 10.4pp-4.6%below the sector's middle half▼ 9.5pp3.4%within the sector's middle half▲ 8.0pp18.7%above the sector's middle half▲ 15.3pp
Staff (FTE)0.9-1▲ 11.1%1below the sector's middle half=1.8below the sector's middle half▲ 80.0%0.6below the sector's middle half▼ 66.7%0.5▼ 16.7%0.8▲ 60.0%0.6▼ 25.0%
above
within
below
The sector band is the middle half of the companies in Manufacture of electrical equipment (NACE 27). 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 operating result for 2025 is 4.3 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €161,086
Fixed assets
€40,158 ▼ 25.8%
Current assets
€120,928 ▲ 26.1%
Equity and liabilities €161,086
Equity
€110,909 ▲ 22.1%
Debt
€50,177 ▼ 15.3%
Debt's share of the balance-sheet total falls from 39.5% to 31.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€63,112▲
2024 · €26,960
Cash flow
€48,546▲
2024 · €21,682
Quick ratio
2.93▲
2024 · 2.43
Debt to equity
0.45▼
2024 · 0.65
ROE
27.1%▲
2024 · 5.6%
Interest coverage
11.05▲
2024 · 4.55
Debt ≤ 1 year
€38,665▲
2024 · €37,076
Debt > 1 year
€11,512▼
2024 · €22,138
Income taxes
€8,855▲
2024 · -€612
Staff costs
€5,557▼
2024 · €15,244
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | - | 1 | 1 |
| part-time | 1 | - | 1 | - | - |
| in full-time equivalents | 1.8 | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 0.6 | 0.5 | 0.8 | 0.6 |
| Joined | - | 0 | - | 1 | 2 |
| Left | - | 1 | - | 1 | 2 |
| Training hours | - | - | - | - | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,199 | €925 | €77,352 | €6,602 | €4,486 |
| Depreciation and write-downs of the year | €10,756 | €4,823 | €13,430 | €16,586 | €18,442 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,094 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €7,656 | €5,876 | €22,004 | €15,244 | €5,557 | ▼ 63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,742 | €7,552 | €9,269 | €10,756 | €4,823 | €13,430 | €16,586 | €18,442 | ▲ 11.2% |
| Other operating charges640/8 | - | - | - | €1,961 | €2,590 | €4,411 | €160 | €267 | ▲ 67.2% |
| Non-recurring operating charges66A | - | - | - | €3,419 | €408 | - | - | - | - |
| Gross operating margin9900 | €44,256 | €46,753 | €27,205 | €48,531 | €38,074 | €14,660 | €42,364 | €68,936 | ▲ 62.7% |
| Operating profit (loss)9901 | €23,545 | €18,779 | -€34,738 | €24,739 | €24,377 | -€25,184 | €10,374 | €44,669 | ▲ 331% |
| Financial income75/76B | - | - | - | €7,309 | €3,045 | €25,319 | €34 | - | - |
| Recurring financial income75 | €4,174 | €4,334 | €3,411 | €2,586 | €3,045 | €2,344 | €34 | - | - |
| Non-recurring financial income76B | - | - | - | €4,723 | - | €22,975 | - | - | - |
| Financial charges65/66B | - | - | - | €2,663 | €14,825 | €12,024 | €5,925 | €5,711 | ▼ 3.6% |
| Recurring financial charges65 | €3,099 | €2,425 | €2,352 | €2,663 | €1,877 | €3,223 | €5,925 | €5,711 | ▼ 3.6% |
| Non-recurring financial charges66B | - | - | - | - | €12,948 | €8,801 | - | - | - |
| Profit (loss) for the period before taxes9903 | €24,620 | €20,688 | -€33,679 | €29,385 | €12,597 | -€11,889 | €4,484 | €38,958 | ▲ 769% |
| Income taxes67/77 | €9,570 | €5,193 | €5,000 | €131 | €3,931 | -€3,740 | -€612 | €8,855 | - |
| Profit (loss) for the period9904 | €15,050 | €15,495 | -€38,679 | €29,254 | €8,666 | -€8,149 | €5,096 | €30,104 | ▲ 491% |
| Profit (loss) for the period to be appropriated9905 | €15,050 | €15,495 | -€38,679 | €29,254 | €8,666 | -€8,149 | €5,096 | €30,104 | ▲ 491% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €139,632 | €164,958 | €184,047 | €191,244 | €177,597 | €177,617 | €150,020 | €161,086 | ▲ 7.4% |
| Fixed assets21/28 | €2,865 | €27,684 | €39,677 | €29,818 | €12,972 | €66,204 | €54,114 | €40,158 | ▼ 25.8% |
| Tangible fixed assets22/27 | €1,805 | €26,624 | €38,617 | €28,758 | €11,912 | €65,144 | €53,054 | €39,098 | ▼ 26.3% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,218 | €968 | ▼ 20.5% |
| Furniture and vehicles24 | - | - | - | €28,758 | €11,912 | €2,722 | €4,463 | €5,806 | ▲ 30.1% |
| Leasing and similar rights25 | - | - | - | - | - | €62,422 | €47,373 | €32,325 | ▼ 31.8% |
| Financial fixed assets28 | €1,060 | €1,060 | €1,060 | €1,060 | €1,060 | €1,060 | €1,060 | €1,060 | = |
| Current assets29/58 | €136,767 | €137,274 | €144,370 | €161,426 | €164,625 | €111,413 | €95,906 | €120,928 | ▲ 26.1% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €5,683 | €7,783 | ▲ 37.0% |
| Stocks30/36 | - | - | - | - | - | - | €5,683 | €7,783 | ▲ 37.0% |
| Amounts receivable within one year40/41 | €133,792 | €132,599 | €139,397 | €154,814 | €149,133 | €105,359 | €62,525 | €74,220 | ▲ 18.7% |
| Trade receivables40 | - | - | - | €97,142 | €93,580 | €39,582 | €37,722 | €58,280 | ▲ 54.5% |
| Other amounts receivable41 | - | - | - | €57,672 | €55,553 | €65,777 | €24,803 | €15,940 | ▼ 35.7% |
| Cash at bank and in hand54/58 | - | - | - | - | €9,710 | €2,655 | €19,908 | €32,713 | ▲ 64.3% |
| Deferred charges and accrued income490/1 | - | - | - | €6,612 | €5,782 | €3,399 | €7,790 | €6,212 | ▼ 20.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €139,632 | €164,958 | €184,047 | €191,244 | €177,597 | €177,617 | €150,020 | €161,086 | ▲ 7.4% |
| Equity10/15 | €79,123 | €94,618 | €55,939 | €85,193 | €93,859 | €85,710 | €90,806 | €110,909 | ▲ 22.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Other1109/19 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €16,860 | ▲ 806% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €15,000 | - |
| Profit (loss) carried forward14 | €58,663 | €74,158 | €35,479 | €64,733 | €73,399 | €65,250 | €70,346 | €75,449 | ▲ 7.3% |
| Amounts payable17/49 | €60,509 | €70,340 | €128,108 | €106,051 | €83,738 | €91,908 | €59,214 | €50,177 | ▼ 15.3% |
| Amounts payable after more than one year17 | - | €14,305 | €23,438 | €15,225 | €6,110 | €35,035 | €22,138 | €11,512 | ▼ 48.0% |
| Financial debts170/4 | - | - | - | €15,225 | €6,110 | €35,035 | €22,138 | €11,512 | ▼ 48.0% |
| Amounts payable within one year42/48 | €59,989 | €56,035 | €104,670 | €90,826 | €77,628 | €56,873 | €37,076 | €38,665 | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,202 | €3,769 | €14,464 | €12,897 | €10,626 | ▼ 17.6% |
| Financial debts43 | - | - | - | €10,169 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €10,169 | - | - | - | - | - |
| Trade debts44 | €34,435 | €21,734 | €41,591 | €45,810 | €53,987 | €13,627 | €18,243 | €15,064 | ▼ 17.4% |
| Suppliers440/4 | - | - | - | €45,810 | €53,987 | €13,627 | €18,243 | €15,064 | ▼ 17.4% |
| Taxes, remuneration and social security45 | - | - | - | €21,645 | €19,872 | €28,781 | €1,723 | €2,420 | ▲ 40.4% |
| Taxes450/3 | - | - | - | €10,580 | €14,626 | €25,480 | €902 | €1,275 | ▲ 41.3% |
| Remuneration and social security454/9 | - | - | - | €11,065 | €5,246 | €3,301 | €822 | €1,146 | ▲ 39.5% |
| Other amounts payable47/48 | - | - | - | €5,000 | - | - | €4,213 | €10,555 | ▲ 151% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,050 | €15,495 | -€38,679 | €29,254 | €8,666 | -€8,149 | €5,096 | €30,104 | ▲ 491% |
| + Depreciation and write-downs630 | €3,742 | €7,552 | €9,269 | €10,756 | €4,823 | €13,430 | €16,586 | €18,442 | ▲ 11.2% |
| Operating cash flow (approximation) | €18,792 | €23,047 | -€29,410 | €40,010 | €13,489 | €5,280 | €21,682 | €48,546 | ▲ 124% |
| Investment in fixed assets (approximation) | - | -€32,371 | -€21,262 | -€897 | €12,023 | -€66,662 | -€4,495 | -€4,486 | ▲ 0.2% |
| Change in cash | - | - | - | - | - | -€7,055 | €17,252 | €12,805 | ▼ 25.8% |
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, 34,693 companies had the same profile as CQS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of CQS itself: 0.1% within 12 months.
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 34,693 companies, not a prediction for CQS. 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.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-08-2026 | 2026-00392928 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00483994 | |
| 31-12-2023 | micro format | 03-01-2025 | 2025-00629896 | |
| 31-12-2022 | full format | 03-10-2023 | 2023-00467711 | |
| 31-12-2021 | full format | 05-08-2022 | 2022-20271824 | |
| 31-12-2020 | full format | 27-08-2021 | 2021-56500384 | |
| 31-12-2019 | full format | 31-08-2020 | 2020-49600256 | |
| 31-12-2018 | full format | 30-07-2019 | 2019-41000297 | |
| 31-12-2017 | full format | 07-08-2018 | 2018-43800559 | |
| 31-12-2016 | full format | 04-08-2017 | 2017-41300459 |
Board & ownership
Directors
Directors
2 directors, last change in 2023
L’HOIR Johnny Gilles Gustave
Current
Director (not named in the articles) · since 29-03-2007 · earlier manager, until 09-10-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 11-08-2026
TIEST Antoine Louis Pierre Bernard Chris
Current
Director (not named in the articles) · since 29-09-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 11-08-2026
Owners and capital
Shareholders
Stated in the act
act of 09-10-2023 ↗
- L’HOIR Johnny Gilles Gustave 60 shares
- TIEST Antoine Louis Pierre Bernard Chris 40 shares
Capital transactions
Capital over time
- 09-10-2023 Converted to unavailable equity · €20,460
Mandate history
2 people, 2 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| L’HOIR Johnny Gilles Gustave |
|
| TIEST Antoine Louis Pierre Bernard Chris |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant et moitié acquéreurs proportionnellement si plusieurs, mêmes formalités si non actionnaires de plein droit”
Articles of association, deed of 09-10-2023 (in French)
Network & group
CQS shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of CQS. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
11-08
micro format · 11 days late
2025
31-12
Financial
Highest result from 2018 to 2025net €30,104 ▲491%
The operating result of €44,669 and the net result of €30,104 are both a record.
31-12
Financial
Equity above €100,000equity €110,909 ▲22.1%
After 2 profitable years in a row, equity reaches €110,909.
29-08
micro format · 29 days late
03-01
micro format · 156 days late
2024
31-12
Financial
Back to profitnet €5,096
The net result is €5,096, after one loss-making year.
2023
09-10
Gazette deed
Registered office moved to EnghienNew seat: Grand Place Pierre Delannoy 50, 7850 Enghien · Change of role: L’HOIR Johnny Gilles Gustave, from manager to director · Appointment: TIEST Antoine Louis Pierre Bernard Chris (director)12 points ▸
Gazette deed
Registered office moved to Enghien
New seat: Grand Place Pierre Delannoy 50, 7850 Enghien · Change of role: L’HOIR Johnny Gilles Gustave, from manager to director · Appointment: TIEST Antoine Louis Pierre Bernard Chris (director)12 points ▸
- General meeting, 29-09-2023
- L’HOIR Johnny Gilles Gustave holds 60 shares
- TIEST Antoine Louis Pierre Bernard Chris holds 40 shares
- Legal-form conversion, from private limited company (pre-2019) to private limited company
- Registered-office move, Grand Place Pierre Delannoy 50, 7850 Enghien
- Power of attorney, Laurent SNYERS
- Director resignation, L’HOIR Johnny Gilles Gustave (manager)
- Director discharge, L’HOIR Johnny Gilles Gustave
- Board rule, 2
- Director appointment, L’HOIR Johnny Gilles Gustave (director (not named in the articles))
- Director appointment, TIEST Antoine Louis Pierre Bernard Chris (director (not named in the articles))
- Registered office clause, Place Pierre Delannoy 50, 7850 Enghien
- The act holds 3 more points.
03-10
full format · 64 days late
2022
05-08
full format · 5 days late
2021
31-12
Financial
Back to profitnet €29,254
The net result is €29,254, after one loss-making year.
27-08
full format · 27 days late
2020
31-12
Financial
Weakest financial yearnet -€38,679
The net result drops to -€38,679, the lowest from 2018 to 2025. It recovers the following year.
Show earlier events
31-08
full format · 31 days late
2019
30-07
full format · 1 day before the deadline
2018
07-08
full format · 7 days late
2017
04-08
full format · 4 days late
2007
06-04
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
CQS in French
Enterprise number
0888.348.170
Legal form
Private limited company
Status
Active, normale toestand
Founded
29-03-2007
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 09-10-2023 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Wallonne”
deed of 09-10-2023 (in French)Registered office and establishments
Registered office
Place Pierre Delannoy 50, 7850 Enghien, Belgium
Establishment unit
CQS SPRL, Place Pierre Delannoy 50, 7850 Enghien since 01-04-2007 · unit number 2.165.202.524 28250 Manufacture of machinery and equipment not elsewhere classified
Activities
NACEBEL 2025VAT activities
27510
Manufacture of electrical equipment main activity
Social security (RSZ) activities
52100
Warehousing and storage main activity
Codes under NACEBEL 2008
VAT activities
27510
Manufacture of electrical equipment main activity
Social security (RSZ) activities
52100
Warehousing and support activities for transportation main activity
Codes under NACEBEL 2003
29710
main activity
Joint committee
149.01 Paritair Subcomité voor de elektriciens: installatie en distributie annual accounts 2022
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 09-10-2023 (in French)
“Toutes activités dans le domaine de la réfrigération et des énergies tant au niveau des études, de la recherche que de la fourniture de…”
3 activities
- Toutes activités dans le domaine de la réfrigération et des énergies tant au niveau des études, de la recherche que de la fourniture de solutions complètes
- La conception, la création, l'achat, la vente, la production, la représentation, la commercialisation de tous objets, articles, produits, marchandises, supports, programmes, licences en relation directe ou indirecte avec l'activité principale mais pas exclusivement
- Tous les travaux et conseils en gestion et maintenance de matériels frigorifiques ainsi qu'à l'installation et optimalisation des installations
Invoicing and payment
VAT number
BE 0888.348.170
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Cannot be placed on the map
This address was not found in the Belgian address register (BOSA BEST).
Place Pierre Delannoy 507850 Enghien