CSA MANAGEMENT
ActiveSummary
CSA MANAGEMENT has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €504,673 and a net result of €102,144. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 85% of 12788 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 3.28 against 1.89 in 2024; short-term debt: 11% and cash: 20.3% of total assets), and 13.5% of the assets are financed with debt.
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Signals
Four 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer 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
86.5%
Return on assets
17.5%
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 29-07-2026, 2 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
2 d early
2024
40 d early
2023
1 d early
2022
36 d early
2021
6 d late
2020
5 d early
2019
7 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 10 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€504,673▲ 16.1%
2024 · €434,529
Total assets
€583,132▲ 9.4%
2024 · €532,827
Net result
€102,144▲ 17.2%
2024 · €87,123
Working capital
€146,148▲ 115%
2024 · €67,881
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€24,269▼ 45.1%€60,714▲ 150%€94,029▲ 54.9%€55,882▼ 40.6%€69,115▲ 23.7%
Net result€34,831▲ 8.8%€92,145▲ 165%€97,528▲ 5.8%€87,123▼ 10.7%€102,144▲ 17.2%
Equity€287,733▲ 13.8%€349,878▲ 21.6%€397,406▲ 13.6%€434,529▲ 9.3%€504,673▲ 16.1%
Total assets€364,578▼ 6.3%€415,250▲ 13.9%€497,214▲ 19.7%€532,827▲ 7.2%€583,132▲ 9.4%
Debt€76,845▼ 43.5%€65,371▼ 14.9%€99,807▲ 52.7%€98,298▼ 1.5%€78,459▼ 20.2%
Working capital-€35,354▲ 26.0%€18,308€22,329▲ 22.0%€67,881▲ 204%€146,148▲ 115%
Staff (FTE)0.2▼ 77.8%
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 24% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €583,132
Fixed assets
€372,794 ▼ 4.2%
Current assets
€210,339 ▲ 46.3%
Equity and liabilities €583,132
Equity
€504,673 ▲ 16.1%
Debt
€78,459 ▼ 20.2%
Debt's share of the balance-sheet total falls from 18.4% to 13.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€86,978▲
2024 · €73,318
Cash flow
€120,007▲
2024 · €104,558
Current ratio
3.28▲
2024 · 1.89
Debt to equity
0.16▼
2024 · 0.23
ROE
20.2%▲
2024 · 20.0%
ROA
17.5%▲
2024 · 16.4%
Interest coverage
35.62▼
2024 · 49.55
Debt ≤ 1 year
€64,191▼
2024 · €75,932
Debt > 1 year
€14,268▼
2024 · €22,366
Income taxes
€24,529▲
2024 · €17,286
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €2,244 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,633 | €10,582 | €6,333 | €17,436 | €17,863 | ▲ 2.5% |
| Other operating charges640/8 | €425 | €637 | €987 | €954 | €520 | ▼ 45.5% |
| Gross operating margin9900 | €35,570 | €71,933 | €101,348 | €74,272 | €87,499 | ▲ 17.8% |
| Operating profit (loss)9901 | €24,269 | €60,714 | €94,029 | €55,882 | €69,115 | ▲ 23.7% |
| Financial income75/76B | €20,000 | €50,003 | €30,000 | €50,006 | €60,000 | ▲ 20.0% |
| Recurring financial income75 | €20,000 | €50,003 | €30,000 | €50,006 | €60,000 | ▲ 20.0% |
| Non-recurring financial income76B | - | - | - | - | €0 | - |
| Financial charges65/66B | €1,326 | €804 | €1,157 | €1,480 | €2,442 | ▲ 65.0% |
| Recurring financial charges65 | €1,326 | €804 | €1,157 | €1,480 | €2,442 | ▲ 65.0% |
| Profit (loss) for the period before taxes9903 | €42,944 | €109,913 | €122,872 | €104,409 | €126,673 | ▲ 21.3% |
| Income taxes67/77 | €8,113 | €17,768 | €25,343 | €17,286 | €24,529 | ▲ 41.9% |
| Profit (loss) for the period9904 | €34,831 | €92,145 | €97,528 | €87,123 | €102,144 | ▲ 17.2% |
| Profit (loss) for the period to be appropriated9905 | €34,831 | €92,145 | €97,528 | €87,123 | €102,144 | ▲ 17.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €364,578 | €415,250 | €497,214 | €532,827 | €583,132 | ▲ 9.4% |
| Fixed assets21/28 | €345,150 | €336,028 | €405,211 | €389,014 | €372,794 | ▼ 4.2% |
| Tangible fixed assets22/27 | €25,150 | €16,028 | €85,211 | €69,014 | €52,794 | ▼ 23.5% |
| Furniture and vehicles24 | €25,150 | €16,028 | €75,233 | €60,058 | €44,860 | ▼ 25.3% |
| Other tangible fixed assets26 | - | - | €9,977 | €8,956 | €7,934 | ▼ 11.4% |
| Financial fixed assets28 | €320,000 | €320,000 | €320,000 | €320,000 | €320,000 | = |
| Current assets29/58 | €19,428 | €79,221 | €92,003 | €143,813 | €210,339 | ▲ 46.3% |
| Amounts receivable within one year40/41 | - | €8,382 | €19,481 | €19,481 | €544 | ▼ 97.2% |
| Trade receivables40 | - | €8,150 | €19,481 | €19,481 | €533 | ▼ 97.3% |
| Other amounts receivable41 | - | €232 | - | - | €11 | - |
| Current investments50/53 | - | - | - | - | €90,718 | - |
| Cash at bank and in hand54/58 | €18,964 | €70,417 | €71,995 | €121,725 | €118,595 | ▼ 2.6% |
| Deferred charges and accrued income490/1 | €464 | €422 | €527 | €2,607 | €481 | ▼ 81.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €364,578 | €415,250 | €497,214 | €532,827 | €583,132 | ▲ 9.4% |
| Equity10/15 | €287,733 | €349,878 | €397,406 | €434,529 | €504,673 | ▲ 16.1% |
| Contributions10/11 | €200,000 | €201,410 | €201,410 | €201,410 | €201,410 | = |
| Reserves13 | €33,410 | €82,000 | €142,000 | €192,000 | €262,000 | ▲ 36.5% |
| Non-distributable reserves130/1 | €1,410 | - | - | - | - | - |
| Other1319 | €1,410 | - | - | - | - | - |
| Distributable reserves133 | €32,000 | €82,000 | €142,000 | €192,000 | €262,000 | ▲ 36.5% |
| Profit (loss) carried forward14 | €54,323 | €66,468 | €53,996 | €41,119 | €41,263 | ▲ 0.3% |
| Amounts payable17/49 | €76,845 | €65,371 | €99,807 | €98,298 | €78,459 | ▼ 20.2% |
| Amounts payable after more than one year17 | €22,062 | €4,458 | €30,134 | €22,366 | €14,268 | ▼ 36.2% |
| Financial debts170/4 | €22,062 | €4,458 | €30,134 | €22,366 | €14,268 | ▼ 36.2% |
| Amounts payable within one year42/48 | €54,782 | €60,913 | €69,674 | €75,932 | €64,191 | ▼ 15.5% |
| Current portion of amounts payable after more than one year42 | €35,033 | €17,605 | €7,451 | €7,768 | €8,098 | ▲ 4.3% |
| Trade debts44 | €2,232 | €6,141 | €2,853 | €1,422 | €750 | ▼ 47.3% |
| Suppliers440/4 | €2,232 | €6,141 | €2,853 | €1,422 | €750 | ▼ 47.3% |
| Taxes, remuneration and social security45 | €14,819 | €2,820 | €9,307 | €14,005 | €21,407 | ▲ 52.9% |
| Taxes450/3 | €14,819 | €2,820 | €9,307 | €14,005 | €21,407 | ▲ 52.9% |
| Other amounts payable47/48 | €2,698 | €34,348 | €50,063 | €52,738 | €33,936 | ▼ 35.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,831 | €92,145 | €97,528 | €87,123 | €102,144 | ▲ 17.2% |
| + Depreciation and write-downs630 | €8,633 | €10,582 | €6,333 | €17,436 | €17,863 | ▲ 2.5% |
| Operating cash flow (approximation) | €43,464 | €102,726 | €103,861 | €104,558 | €120,007 | ▲ 14.8% |
| Investment in fixed assets (approximation) | - | -€1,460 | -€75,515 | -€1,239 | -€1,643 | ▼ 32.6% |
| Change in cash | - | €51,454 | €1,577 | €49,730 | -€3,130 | ▼ 106% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €102,144 ▲17.2%
Net result €102,144, the highest in the series.
31-12
Financial
Equity above €500,000Eq €504,673 ▲16.1%
7 profitable years in a row build equity to €504,673.
21-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 1.30
Current ratio from 0.35 to 1.30.
06-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 6 days late
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2019
31-12
Financial
Back to profitnet €38,230
Net result €38,230 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gesves · 1 establishment unit since 2016
Ground area
3,391 m²
Building footprint
141 m²
Parcel 92042E0466/00A000, Wallonia. Linked by address, not a title deed.
1 establishment unit
CSA Management
since 20162.257.760.815
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92042E0466/00A000 | Wallonia | 3,391 m² | 1 · 141 m² | - |
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
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2022 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2022 annual accounts of CSA MANAGEMENT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 12,174 companies in sector 69201 we hold annual accounts for 7,638. 5,487 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
Founded04-10-2016
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Contact
E-mail
carine.charles@gmail.com
Phone
+3281570395
E-invoicing
Reachable via Peppol
Peppol ID
0208:0664686560
Also
9925:BE0664686560
Registered
04-04-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.