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Complete company report
Generated 11-07-2026
Active BE 0802.543.752Private limited company

CSAD

Rue Couture(DON) 144 ·6536 Thuin, Belgium· 3 yrs active
Sector: NACE 85510 (85510)
Conclusion Checked

The computed 12-month bankruptcy probability of CSAD is 0.6% (low). The 2024 annual accounts show equity of €4k and a net result of €-6k. Its solvency ranks better than 22% of 798 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 1 annual account.
Key figures
Equity €4k
Net result €-6k
Staff (FTE) 1.3
Better than sector 22%
Snowflake analysis 5 axes · computed by Checked
Health23Profitability0Solvency3Growth50Stability79
31 / 100

Fragile profile, watch profitability in particular.

Health 23
Profitability 0
Solvency 3
Growth 50
Stability 79
Bankruptcy probability (12 mo) Checked model v1 · free
0.6% Low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector −Young company +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
More than 3 years active
Founded in 2023, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2024 · computed
23 / 100 Critical
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview1 NBB filings
Annual accounts filed on 27-09-2025 with the NBB · fiscal year 2024 · micro
Sector comparison
Fiscal year 2024 · NACE 85 · compared within the same schema type (micro schema)
Metric This company Sector median Position in the sector
Solvency 4.1% 40.2%
better than 22% of 798 sector peers
Net result €-6k €7k
better than 15% of 796 sector peers
Equity €4k €19k
better than 27% of 798 sector peers
Gross operating margin €64k €18k
better than 82% of 797 sector peers
Staff costs €47k €17k
higher than 71% of 156 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Fiscal year2024
Revenue-
EBITDA€13k
Net profit€-6k
Cash flow€12k
Staff costs€47k
Income taxes€537
Dividends-
Total assets€95k
Equity€4k
Debt€91k
of which ≤ 1y€91k
of which > 1y-
Working capital€-64k
Employees (FTE)1.3
Ratios (computed)
2024
Current ratio0.30
Quick ratio0.09
Working capital ratio-67.5%
Solvency4.1%
Debt / equity23.33
Long-term debt ratio-
Interest coverage46.03
Gross margin-
Net margin-
ROA-6.5%
ROE-157.3%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€95k
Fixed assets 21/28€68k
Tangible fixed assets 22/27€68k
Current assets 29/58€27k
Stocks & contracts in progress 3€19k
Amounts receivable within one year 40/41€7k
Cash & bank 54/58€2k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€95k
Equity 10/15€4k
Contributions / capital 10/11€10k
Accumulated profits (losses) 14€-6k
Amounts payable 17/49€91k
Amounts payable within one year 42/48€91k
Trade debts payable within one year 44€15k
Income statement
Gross operating margin 9900€64k
Operating result 9901€-5k
Financial income 75€16
Financial charges 65€272
Result before taxes 9903€-6k
Income taxes 67/77€537
Net result for the period 9904€-6k
Result to be appropriated 9905€-6k
Ratios computed by Checked.
Legal Structure
NACE primary 85510
Legal form Private limited company(610)
Incorporation08-06-2023
StatusActive
Postal code6536
Establishment units 1 location
CSAD
Rue Couture(DON) 144, 6536 ThuinFokken en houden van paarden en andere paardachtigen
since 20232.346.239.364
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
56019B0247/00X000 Wallonia 1.4 ha - -
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 1 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
27-09-2025
NBB filing Annual accounts filed
fiscal year 2024 · micro
Credit advice verdict per customer and amount

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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AI-generated from Checked data; indicative, not legal or investment advice.
Company registry (CBE) Crossroads Bank
Activities
Sport- en recreatieonderwijs85510Sport- en recreatieonderwijs85510Activiteiten van paardensportclubs93127Activiteiten van paardensportclubs93127Fokken van paarden en andere paardachtigen01430Fokken en houden van paarden en andere paardachtigen01430Ondersteunende activiteiten in verband met de veeteelt01620Ondersteunende activiteiten in verband met de veeteelt01620Verhuur en exploitatie van eigen of geleasd niet-residentieel onroerend goed, exclusief terreinen68203Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen68203Activiteiten van paardensportclubs93127Activiteiten van paardensportclubs93127Africhten van huisdieren96094Africhten van huisdieren96994
Primary activity highlighted.
Names & trade names
Legal nameFR CSAD
Registered office
Rue Couture(DON) 144
6536 Thuin, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative