Equity
-€92,812
Debts exceed assets in financial year 2024.
C.S.D. BELUX
Lifetime
1 annual account with figurespeak €863,323 (2024)
€863,323
lowest -€142,812 (2024)
-€142,812
peak -€92,812 (2024)
-€92,812
€1.0m
peak 12.6 FTE (2024)
12.6 FTE
Board4 names since 2023
3 directorsBOSTEELS Ken and 2 others
Owners2 names in the annual accounts
Documentsfilings and deeds
17-07-202514 days before the deadline
2024financial year
Loss of €142,812First year with figures
Key points
from the 2024 annual accountsDebts
€1.0m 110% of the balance sheet
Financial debts 41%Suppliers 39%Taxes and wages 10%Other 9%
Of this, €603,171 falls due within a year.
Position in the sector
-10.0%
Lower solvency than 95% of companies in machinery and equipment. Sector median 40.8% · 317 companies.
Checked score
32
Weak
Financially stronger than 6% of small companies in machinery and equipment (NACE 28)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
6.5% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 291 companies (NACE 28, small).
About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.5%lowest value
01-2025: 2.5%● unchanged vs 12-2024lowest value
02-2025: 2.8%▲ +0.3 percentage points vs 01-2025
03-2025: 2.8%● unchanged vs 02-2025
04-2025: 2.7%▼ -0.1 percentage points vs 03-2025
05-2025: 2.7%● unchanged vs 04-2025
06-2025: 3.1%▲ +0.4 percentage points vs 05-2025
07-2025: 3.1%● unchanged vs 06-2025
08-2025: 3.8%▲ +0.7 percentage points vs 07-2025
09-2025: 3.8%● unchanged vs 08-2025
10-2025: 3.8%● unchanged vs 09-2025
11-2025: 3.8%● unchanged vs 10-2025
12-2025: 3.8%● unchanged vs 11-2025
01-2026: 3.8%● unchanged vs 12-2025
02-2026: 3.6%▼ -0.2 percentage points vs 01-2026
03-2026: 3.4%▼ -0.2 percentage points vs 02-2026
04-2026: 3.5%▲ +0.1 percentage points vs 03-2026
05-2026: 3.5%● unchanged vs 04-2026
06-2026: 3.4%▼ -0.1 percentage points vs 05-2026
07-2026: 3.6%▲ +0.2 percentage points vs 06-2026
08-2026: 4.5%▲ +0.9 percentage points vs 07-2026
09-2026: 4.8%▲ +0.3 percentage points vs 08-2026
10-2026: 6.5%▲ +1.7 percentage points vs 09-2026highest value
11-2026: 6.5%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Figures for financial year 2024 (filed on 17-07-2025)
Size: 12.6 FTE, total assets €932,026
Loss of €142,812 (financial year 2024)
1 financial year not filed after the legal deadline
Restart pattern
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 28, small). It does better than 3% of them on solvency, 11% on liquidity and 3% on profitability.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 490 companies had the same profile as C.S.D. BELUX has now. Each dot is one company, two years later.
88.6%
were still trading
3.9%
stopped another way
6.7%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of C.S.D. BELUX itself: 6.5% within 12 months.
Test of the method
The method was tested on the 497,447 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 490 companies, not a prediction for C.S.D. BELUX. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.36, below 1. Short-term debt is 64.7% and cash 1.1% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-07-2025, 14 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2024
14 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its 2024 accounts 14 days before the deadline. In the sector (NACE 28), the median for financial year 2024 was 11 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (1)
Restart pattern
1 indication
A company was founded shortly before or after the bankruptcy of another, with a director in both or at the same registered office.
- FoundedThis companystart date 29-06-2023
This company was founded 54 days before the bankruptcy of C.S.D.. The annual accounts of both list Be-Plan as director.
- Be-Plan listed as director in the annual accounts of both
- Similar name
This is a pattern, not a judgment. A new start after a bankruptcy is often entirely legitimate. The facts come from the KBO register, the Belgian Official Gazette, the director data and the annual accounts at the NBB. The same name in two sets of accounts is not necessarily the same person. What the facts mean is for you to look into.
Board and ownership
BK
BOSTEELS Ken
Director, since 27-06-2023
PE
Product Engineering & Management
Director, since 27-06-2023
- GO 4 IMMO 41.89%score 54equity -€106,712 (2026) · 31-03-2026 annual accounts of GO 4 IMMO
- Be-Plan 33%score 56equity -€159,605 (2025) · 30-06-2023 annual accounts of Be-Plan
- PRODUCTION ENGINEERING & MANAGEMENTscore 98equity €255,977 (2026) · deed of 10-07-2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0803375873
New managing director
STB Management BV appointed, BE-PLAN resigned · General meeting of 31-08-2025 · Gazette deed
Capital increase · Amendment of the articles
Contributions: GO 4 IMMO (€78,000, 4,680 shares); BE-PLAN (€20,000, 1,200 shares); PRODUCTION ENGINEERING & MANAGEMENT (€78,000, 4,680 shares) · GO 4 IMMO holds 5,680 shares · BE-PLAN is a shareholder · General meeting of 20-02-2025 · Gazette deed
First establishment
Avenue Zénobe Gramme 34, Wavre
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| C.S.D. BELUX Wavre | €0.9m | €863,323 | -10.0% | 12.6 |
| A.G.Mat Fernelmont | €1.3m | €799,071 | 31.6% | 9 |
| Heliovision Lubbeek | €1.3m | €574,174 | 19.6% | 7.2 |
| Maxy Broches Tubize | €0.6m | €594,462 | 25.1% | 14.8 |
| CYAGO Kortrijk | €2.1m | €588,294 | 19.0% | 4.9 |
| Solhyd Bierbeek | €3.6m | €283,242 | 93.9% | 7.5 |
| Industrial Cobotics Zulte | €0.7m | €507,322 | 19.2% | 3.9 |
These companies have the same main activity as C.S.D. BELUX: manufacture of machinery and equipment not elsewhere classified (NACE 28990). They are comparable in size and age: total assets between €617,000 and €3.6m, founded between 2018 and 2023.
Official details
Source: KBO- Status
- Active since 29-06-2023Normal situation
- Activity
- Manufacture of machinery and equipment not elsewhere classifiedNACE 28990and 1 other
- Establishment unit
- 2.350.170.7351300 Wavre, since 01-07-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 27-03-2026
Annual accounts 2024
- ≈ €2.0mestimated
- €932,026
- Employeeson 31-12-2024
- 13
- Filing
- Filed on 17-07-2025, 14 days before the end of the filing period
Insights on C.S.D. BELUX
The computed 12-month bankruptcy probability of C.S.D. BELUX is 6.5% (elevated). The 2024 annual accounts show negative equity (-€92,812) and a net result of -€142,812.
Its solvency ranks better than 5% of 317 sector peers (NACE 28, financial year 2024). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about C.S.D. BELUX
- What is the company number of C.S.D. BELUX?
- The company number of C.S.D. BELUX is 0803.375.873. The VAT number is the same number with BE in front: BE 0803.375.873.
- Where is C.S.D. BELUX based?
- The registered office is at Avenue Zénobe Gramme 34, 1300 Wavre.Company details
- What does C.S.D. BELUX do?
- According to the KBO register, the main activity is manufacture of machinery and equipment not elsewhere classified (NACE 28990).
- What is the legal form of C.S.D. BELUX?
- C.S.D. BELUX is a private limited company (BV).
- When was C.S.D. BELUX founded?
- C.S.D. BELUX was founded on 29-06-2023.
- Is C.S.D. BELUX still active?
- Yes, C.S.D. BELUX is an active enterprise in the KBO register.
- How many employees does C.S.D. BELUX have?
- C.S.D. BELUX had an average of 12.6 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of C.S.D. BELUX?
- The turnover in financial year 2024 is ≈ €2.0m. This figure is estimated from the gross margin of €863,323 and 2,275 comparable companies of the same size. It probably lies between €1.2m and €3.5m. It is a rough estimate.
- Is C.S.D. BELUX profitable?
- In financial year 2024, C.S.D. BELUX made a loss of €142,812.
- Where can I find the annual accounts of C.S.D. BELUX?
- C.S.D. BELUX filed 1 annual account with the National Bank of Belgium, for financial year 2024.
Next steps
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