CS MAG
ActiveSummary
The computed 12-month bankruptcy probability of CS MAG is 2.0% (moderate). The 2025 annual accounts show negative equity (-€293,766) and a net result of -€120,717. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 10522 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability3▲+3
Solvency0▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.42 against 0.63 in 2024; short-term debt: 99.2% and cash: 8.3% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-30.6%
Return on assets
-12.6%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€293,766
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
30 d late
2023
30 d late
2022
29 d late
2021
20 d early
2020
27 d late
2019
18 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 20 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 29 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€4.7m
EBIT margin
-1.8%
Net result
-€120,717▲ 18.5%
2024 · -€148,155
Working capital
-€554,815▼ 123%
2024 · -€248,411
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€4.7m
Operating result€13,737▲ 57.3%-€85,318€38,293-€118,074-€40,076▲ 66.1%
Net result€13,236within the sector's middle half▼ 8.4%-€100,537below the sector's middle half€3,015within the sector's middle half-€148,155below the sector's middle half-€120,717below the sector's middle half▲ 18.5%
EBIT margin-1.8%
Equity€72,629within the sector's middle half▲ 22.3%-€27,909below the sector's middle half-€24,894below the sector's middle half▲ 10.8%-€173,049below the sector's middle half▼ 595%-€293,766below the sector's middle half▼ 69.8%
Total assets€621,522above the sector's middle half▲ 54.4%€944,819above the sector's middle half▲ 52.0%€927,769above the sector's middle half▼ 1.8%€824,824above the sector's middle half▼ 11.1%€959,504within the sector's middle half▲ 16.3%
Debt€548,893▲ 60.0%€972,728▲ 77.2%€952,663▼ 2.1%€997,873▲ 4.7%€1.3m▲ 25.6%
Working capital€54,791within the sector's middle half▼ 45.1%-€76,165below the sector's middle half-€94,948below the sector's middle half▼ 24.7%-€248,411below the sector's middle half▼ 162%-€554,815below the sector's middle half▼ 123%
Solvency11.7%within the sector's middle half▼ 3.1pp-3.0%below the sector's middle half▼ 14.6pp-2.7%below the sector's middle half▲ 0.3pp-21.0%below the sector's middle half▼ 18.3pp-30.6%below the sector's middle half▼ 9.6pp
Current ratio1.11within the sector's middle half▼ 0.320.87within the sector's middle half▼ 0.240.85within the sector's middle half▼ 0.030.63below the sector's middle half▼ 0.210.42below the sector's middle half▼ 0.22
Return on assets (ROA)2.1%within the sector's middle half▼ 1.5pp-10.6%below the sector's middle half▼ 12.8pp0.3%within the sector's middle half▲ 11.0pp-18.0%below the sector's middle half▼ 18.3pp-12.6%below the sector's middle half▲ 5.4pp
Staff (FTE)18▲ 8.4%17.4▼ 3.3%8.9▼ 48.9%0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €40,076 in 2025 against €118,074 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €959,504
Fixed assets
€562,530 ▲ 43.1%
Current assets
€396,973 ▼ 8.1%
Key figures and ratios
EBITDA
-€19,314▲
2024 · -€101,721
Cash flow
-€99,955▲
2024 · -€131,802
Quick ratio
0.13▼
2024 · 0.25
Debt to equity
-4.27▲
2024 · -5.77
Interest coverage
-0.23▲
2024 · -3.18
Debt ≤ 1 year
€951,788▲
2024 · €680,181
Debt > 1 year
€295,777▼
2024 · €317,692
Income taxes
-€3,000▼
2024 · €0
Staff costs
€605,148▲
2024 · €493,633
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 598 companies that looked in July 2024 the way this one looks now, 9.4% went bankrupt within 24 months and 83% are still going.
- Small
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
9.4%
went bankrupt
6.0%
stopped otherwise
83%
still going
A further 1.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 598 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €4.7m | - | - | - | - |
| Non-recurring operating income76A | €14,913 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €4.2m | - | - | - | - |
| Remuneration, social security and pensions62 | €509,133 | €532,543 | €578,282 | €493,633 | €605,148 | ▲ 22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,798 | €11,113 | €16,353 | €16,353 | €20,762 | ▲ 27.0% |
| Other operating charges640/8 | €9,122 | €13,191 | €8,943 | €7,522 | €11,245 | ▲ 49.5% |
| Non-recurring operating charges66A | €2,884 | €56,894 | €0 | - | - | - |
| Gross operating margin9900 | €546,674 | €528,423 | €641,871 | €399,434 | €597,079 | ▲ 49.5% |
| Operating profit (loss)9901 | €13,737 | -€85,318 | €38,293 | -€118,074 | -€40,076 | ▲ 66.1% |
| Financial income75/76B | €9,672 | €598 | €4,000 | €1,953 | €1,377 | ▼ 29.5% |
| Recurring financial income75 | €9,672 | €2 | €3 | €1,953 | €1,377 | ▼ 29.5% |
| Non-recurring financial income76B | - | €596 | €3,996 | €0 | - | - |
| Financial charges65/66B | €5,131 | €12,226 | €31,971 | €32,033 | €85,018 | ▲ 165% |
| Recurring financial charges65 | €5,131 | €12,226 | €31,971 | €32,033 | €85,018 | ▲ 165% |
| Profit (loss) for the period before taxes9903 | €18,278 | -€96,946 | €10,322 | -€148,155 | -€123,717 | ▲ 16.5% |
| Income taxes67/77 | €5,042 | €3,591 | €7,307 | €0 | -€3,000 | - |
| Profit (loss) for the period9904 | €13,236 | -€100,537 | €3,015 | -€148,155 | -€120,717 | ▲ 18.5% |
| Profit (loss) for the period to be appropriated9905 | €13,236 | -€100,537 | €3,015 | -€148,155 | -€120,717 | ▲ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €621,522 | €944,819 | €927,769 | €824,824 | €959,504 | ▲ 16.3% |
| Fixed assets21/28 | €65,311 | €425,760 | €409,407 | €393,054 | €562,530 | ▲ 43.1% |
| Intangible fixed assets21 | - | - | - | - | €97,452 | - |
| Tangible fixed assets22/27 | €65,311 | €425,760 | €409,407 | €393,054 | €465,078 | ▲ 18.3% |
| Land and buildings22 | €56,979 | €418,964 | €404,894 | €390,824 | €459,846 | ▲ 17.7% |
| Plant, machinery and equipment23 | €647 | €1,077 | €556 | €36 | €2,160 | ▲ 5,959% |
| Furniture and vehicles24 | €7,685 | €5,719 | €3,957 | €2,194 | €3,073 | ▲ 40.0% |
| Current assets29/58 | €556,211 | €519,059 | €518,362 | €431,770 | €396,973 | ▼ 8.1% |
| Stocks and contracts in progress3 | €140,416 | €242,983 | €247,126 | €264,425 | €272,545 | ▲ 3.1% |
| Stocks30/36 | €140,416 | €242,983 | €247,126 | €264,425 | €272,545 | ▲ 3.1% |
| Amounts receivable within one year40/41 | €213,272 | €156,390 | €173,626 | €39,463 | €44,829 | ▲ 13.6% |
| Trade receivables40 | €78,471 | €41,316 | €119,835 | €0 | €4,605 | - |
| Other amounts receivable41 | €134,802 | €115,074 | €53,791 | €39,463 | €40,224 | ▲ 1.9% |
| Cash at bank and in hand54/58 | €202,501 | €119,685 | €97,610 | €86,865 | €79,599 | ▼ 8.4% |
| Deferred charges and accrued income490/1 | €21 | - | - | €41,017 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €621,522 | €944,819 | €927,769 | €824,824 | €959,504 | ▲ 16.3% |
| Equity10/15 | €72,629 | -€27,909 | -€24,894 | -€173,049 | -€293,766 | ▼ 69.8% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | €20,000 | €20,000 | - | - | - | - |
| Issued capital100 | €20,000 | €20,000 | - | - | - | - |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Legal reserve130 | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €50,629 | -€49,909 | -€46,894 | -€195,049 | -€315,766 | ▼ 61.9% |
| Amounts payable17/49 | €548,893 | €972,728 | €952,663 | €997,873 | €1.3m | ▲ 25.6% |
| Amounts payable after more than one year17 | €47,473 | €360,382 | €339,353 | €317,692 | €295,777 | ▼ 6.9% |
| Financial debts170/4 | €47,473 | €360,382 | €339,353 | €317,692 | €295,777 | ▼ 6.9% |
| Amounts payable within one year42/48 | €501,420 | €595,224 | €613,309 | €680,181 | €951,788 | ▲ 39.9% |
| Current portion of amounts payable after more than one year42 | €24,180 | €26,977 | €19,212 | €18,907 | €20,199 | ▲ 6.8% |
| Financial debts43 | €14,115 | - | - | - | - | - |
| Credit institutions430/8 | €14,115 | - | - | - | - | - |
| Trade debts44 | €341,835 | €210,540 | €223,032 | €342,088 | €573,282 | ▲ 67.6% |
| Suppliers440/4 | €341,835 | €210,540 | €223,032 | €342,088 | €573,282 | ▲ 67.6% |
| Taxes, remuneration and social security45 | €59,482 | €46,989 | €62,067 | €9,287 | €5,478 | ▼ 41.0% |
| Taxes450/3 | €7,327 | €3,058 | €1,868 | €7,774 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €52,155 | €43,931 | €60,198 | €1,513 | €5,478 | ▲ 262% |
| Other amounts payable47/48 | €61,809 | €310,719 | €308,999 | €309,899 | €352,829 | ▲ 13.9% |
| Accrued charges and deferred income492/3 | - | €17,122 | €0 | - | €5,704 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,236 | -€100,537 | €3,015 | -€148,155 | -€120,717 | ▲ 18.5% |
| + Depreciation and write-downs630 | €11,798 | €11,113 | €16,353 | €16,353 | €20,762 | ▲ 27.0% |
| Operating cash flow (approximation) | €25,034 | -€89,424 | €19,368 | -€131,802 | -€99,955 | ▲ 24.2% |
| Investment in fixed assets (approximation) | - | -€371,562 | €0 | €0 | -€190,239 | - |
| Change in cash | - | -€82,816 | -€22,076 | -€10,745 | -€7,266 | ▲ 32.4% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Weakest financial yearnet -€148,155
Net result drops to -€148,155, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €3,015
Net result €3,015 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
18-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
31-12
Financial
Highest result since 2018net €43,984 ▲299%
Operating result €49,069, net result €43,984, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Floreffe · 3 establishment units since 2020
Ground area
6,435 m²
Building footprint
813 m²
Volume, LiDAR
3,023 m³
4 parcels, Wallonia · tallest building 12.8 m, ±4 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
3 establishment units
SUN 7 PRESSE
since 20202.296.982.071
SUN 7 PRESSE
since 20202.296.982.170
SUN7
since 20202.308.122.324
4 parcels
Wallonia
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92045A0008/00A000 | Wallonia | 4,611 m² | 1 · 184 m² | 8.2 m · 2 fl. |
| 92088C0150/00Y002 | Wallonia | 945 m² | 1 · 453 m² | - |
| 25091A1199/00A000 | Wallonia | 450 m² | - | - |
| 25112D0255/00M002 | Wallonia | 429 m² | 1 · 176 m² | 12.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
3 sitesLa Bruyère2.308.122.324
Rixensart2.296.982.170
Wavre2.296.982.071
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Of 2,341 companies in sector 47621 we hold annual accounts for 1,245. 1,098 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
Founded21-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
47621Retail sale of newspapers and periodicals
47260Retail trade
77229Renting and leasing of other personal and household goods
92000Gambling and betting activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0644704263
Also
9925:BE0644704263
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.