CULD
ActiveFrom the official registers: KBO 13 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
CULD has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51,338 and a net result of €11,495. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 56% of 21,130 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 29-02-2012 Normal situation
- Activity
- Computer programming NACE 62100and 5 others
- Establishment unit
- 2.208.401.572 2300 Turnhout, since 06-03-2012
- Financial year end
- 31 March
- Peppol
- Reachable since 21-11-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €68,178
- ▼ 4.4%
- Turnover
- ≈ €160,000
- estimated
- Profit
- €11,495
- ▼ 43.2%
- Equity
- €51,338
- ▲ 28.9%
- Total assets
- €78,113
- ▲ 6.0%
- Staff
- 1 FTE
- =
Score breakdownraises riskFigures for financial year 2025 (filed on 09-10-2025)lowers riskLiquidity: current ratio 2.82, cash €63,798Sector: Computer programming, consultancy and related activities (NACE 62)Size: total assets €78,113Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, micro). It does better than 58% of them on solvency, 70% on liquidity, 50% on profitability and 71% on growth.
The bankruptcy probability was computed on 31-10-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 6 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
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Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 02-10-2025 PDF all 13 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 25% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Comparable companies
These companies have the same main activity as CULD: computer programming (NACE 62100). They are comparable in size and age: total assets between €64,300 and €97,200, founded between 2011 and 2014.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| CULD Turnhout | 2012 | €78,113 | €51,338 | €68,178 | €11,495 | 2025 |
| ERGONOMIC Brussel | 2013 | €82,261 | -€29,473 | €69,523 | -€835 | 2024 |
| EVOLVE CONSULTING Izegem | 2012 | €97,226 | €52,616 | €66,069 | €35,853 | 2025 |
| PP COMPUTING Ukkel | 2013 | €83,908 | €66,090 | €58,416 | €45,685 | 2025 |
| INTO OBJECTS Leuven | 2014 | €87,472 | €18,600 | €75,396 | €57,989 | 2025 |
| REVISAT Nazareth-De Pinte | 2011 | €69,022 | €26,527 | €56,136 | €34,155 | 2025 |
| IT SIMPLY WORKS Mechelen | 2012 | €64,337 | €51,704 | €51,195 | €34,008 | 2025 |
They were chosen from the 9,111 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 34,693 companies had the same profile as CULD has now. Two years later, 0.7% had gone bankrupt and 95.3% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of CULD itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 CULD. 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €35,315 | €41,703 | €44,317 | €47,028 | ▲ 6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,789 | €4,838 | €2,366 | €2,366 | €2,366 | €1,087 | €1,743 | ▲ 60.4% |
| Other operating charges640/8 | - | - | - | €593 | €697 | €751 | €595 | ▼ 20.8% |
| Gross operating margin9900 | €27,816 | €10,638 | €25,729 | €50,826 | €67,545 | €71,330 | €68,178 | ▼ 4.4% |
| Operating profit (loss)9901 | €2,586 | -€18,038 | -€7,868 | €12,551 | €22,780 | €25,174 | €18,812 | ▼ 25.3% |
| Financial income75/76B | - | - | - | €65 | €224 | €111 | €5 | ▼ 95.6% |
| Recurring financial income75 | €1,523 | €191 | €65 | €65 | €224 | €111 | €5 | ▼ 95.6% |
| Financial charges65/66B | - | - | - | €2,149 | €662 | €455 | €176 | ▼ 61.2% |
| Recurring financial charges65 | €940 | €293 | €1,558 | €2,149 | €662 | €455 | €176 | ▼ 61.2% |
| Profit (loss) for the period before taxes9903 | €3,170 | -€18,139 | -€9,361 | €10,468 | €22,341 | €24,831 | €18,640 | ▼ 24.9% |
| Income taxes67/77 | €1,373 | €117 | €233 | €237 | €6,235 | €4,600 | €7,145 | ▲ 55.3% |
| Profit (loss) for the period9904 | €1,797 | -€18,256 | -€9,594 | €10,230 | €16,106 | €20,231 | €11,495 | ▼ 43.2% |
| Profit (loss) for the period to be appropriated9905 | €1,797 | -€18,256 | -€9,594 | €10,230 | €16,106 | €20,231 | €11,495 | ▼ 43.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €48,862 | €30,391 | €26,148 | €31,225 | €49,022 | €73,705 | €78,113 | ▲ 6.0% |
| Fixed assets21/28 | €10,468 | €7,997 | €5,630 | €3,264 | €898 | €3,500 | €4,400 | ▲ 25.7% |
| Tangible fixed assets22/27 | €10,468 | €7,997 | €5,630 | €3,264 | €898 | €3,500 | €4,400 | ▲ 25.7% |
| Plant, machinery and equipment23 | - | - | - | - | - | €1,038 | €618 | ▼ 40.5% |
| Furniture and vehicles24 | - | - | - | €1,371 | €898 | €2,462 | €3,782 | ▲ 53.6% |
| Other tangible fixed assets26 | - | - | - | €1,893 | - | - | - | - |
| Current assets29/58 | €38,394 | €22,394 | €20,518 | €27,961 | €48,124 | €70,206 | €73,713 | ▲ 5.0% |
| Amounts receivable within one year40/41 | €26,799 | €14,064 | €14,256 | €3,133 | €12,473 | €23,557 | €9,763 | ▼ 58.6% |
| Trade receivables40 | - | - | - | €3,133 | €12,231 | €22,157 | €9,263 | ▼ 58.2% |
| Other amounts receivable41 | - | - | - | - | €242 | €1,400 | €500 | ▼ 64.3% |
| Cash at bank and in hand54/58 | €11,294 | €8,331 | €6,230 | €24,691 | €35,423 | €46,505 | €63,798 | ▲ 37.2% |
| Deferred charges and accrued income490/1 | - | - | - | €138 | €229 | €144 | €152 | ▲ 5.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €48,862 | €30,391 | €26,148 | €31,225 | €49,022 | €73,705 | €78,113 | ▲ 6.0% |
| Equity10/15 | €21,126 | €2,870 | -€6,724 | €3,506 | €19,612 | €39,843 | €51,338 | ▲ 28.9% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €1,126 | €1,087 | €1,087 | €1,087 | €1,087 | €19,843 | €31,338 | ▲ 57.9% |
| Non-distributable reserves130/1 | - | - | - | €1,087 | €1,087 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,087 | €1,087 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €19,843 | €31,338 | ▲ 57.9% |
| Profit (loss) carried forward14 | - | -€18,217 | -€27,811 | -€17,580 | -€1,474 | - | - | - |
| Amounts payable17/49 | €27,736 | €27,521 | €32,872 | €27,719 | €29,409 | €33,862 | €26,775 | ▼ 20.9% |
| Amounts payable after more than one year17 | €652 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €26,881 | €26,559 | €28,559 | €27,158 | €29,409 | €33,262 | €26,175 | ▼ 21.3% |
| Trade debts44 | €1,191 | €8,903 | €4,062 | €5,902 | €7,864 | €14,056 | €5,288 | ▼ 62.4% |
| Suppliers440/4 | - | - | - | €5,902 | €7,864 | €14,056 | €5,288 | ▼ 62.4% |
| Taxes, remuneration and social security45 | - | - | - | €17,176 | €16,163 | €15,986 | €19,237 | ▲ 20.3% |
| Taxes450/3 | - | - | - | €5,881 | €3,959 | €4,582 | €6,583 | ▲ 43.7% |
| Remuneration and social security454/9 | - | - | - | €11,295 | €12,204 | €11,403 | €12,655 | ▲ 11.0% |
| Other amounts payable47/48 | - | - | - | €4,080 | €5,383 | €3,221 | €1,650 | ▼ 48.8% |
| Accrued charges and deferred income492/3 | - | - | - | €562 | - | €600 | €600 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,797 | -€18,256 | -€9,594 | €10,230 | €16,106 | €20,231 | €11,495 | ▼ 43.2% |
| + Depreciation and write-downs630 | €4,789 | €4,838 | €2,366 | €2,366 | €2,366 | €1,087 | €1,743 | ▲ 60.4% |
| Operating cash flow (approximation) | €6,585 | -€13,418 | -€7,228 | €12,597 | €18,473 | €21,318 | €13,238 | ▼ 37.9% |
| Investment in fixed assets (approximation) | - | -€2,367 | €0 | €0 | €0 | -€3,689 | -€2,643 | ▲ 28.3% |
| Change in cash | - | -€2,963 | -€2,100 | €18,460 | €10,732 | €11,082 | €17,293 | ▲ 56.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 02-10-2025 | 2025-00536566 | |
| 31-03-2024 | micro format | 25-10-2024 | 2024-00518532 | |
| 31-03-2023 | micro format | 28-09-2023 | 2023-00459268 | |
| 31-03-2022 | micro format | 27-10-2022 | 2022-20475264 | |
| 31-03-2021 | micro format | 30-11-2021 | 2021-79000253 | |
| 31-03-2020 | micro format | 08-11-2020 | 2020-69300232 | |
| 31-03-2019 | micro format | 29-10-2019 | 2019-71600323 | |
| 31-03-2018 | micro format | 31-10-2018 | 2018-71400243 | |
| 31-03-2017 | micro format | 15-03-2018 | 2018-06900036 | |
| 31-03-2016 | abbreviated format | 30-12-2016 | 2016-71900516 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 16-11-2023 Converted to unavailable equity · €20,000
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Blockx Steffan |
|
| Horemans Ruben |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Vaste of evenredige vergoeding, algemene kosten los van representatie- reis- en verplaatsingskosten”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Kandidaat-overdrager en zich verzettende aandeelhouders ieder voor helft, commissaris of,als er geen commissaris is,door bestuursorgaan…”
Articles of association, deed of 16-11-2023 (in Dutch)
Network & group
CULD shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of CULD. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
16-11
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsCapital conversion · Reserve release · Director in office7 points ▸
- Other provision, “prijs dienstverlening voorgaande volmacht, voldoende ingelicht” (deed in Dutch)
- General meeting, 25-10-2023
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “beschikbaar maken, statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Director in office, Blockx Steffan Mariette Louis (director)
- Director in office, Horemans Ruben (director)
- Amendment of the articles
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202515 activities
- Het ontwerpen van webshop muurstickers,muurbekleding,groothandel en kleinhandel(vooral online);
- Webdesign,web development,webhosting,domeinnamen,prepress,alle soorten drukwerk(uitbesteding aan drukkerijen),online marketing,grafisch ontwerpen,zoekmachine-optimalisatie,search engine advertising(adwords),e-mailmarketing,software development(mobile,apps,websites,…),belettering,productfotografie,fotobewerking,fotografie(algemeen);
- Grootformaat-drukwerk,carwrapping,belettering,interieur/winkelinrichting en plaatsing,standenbouw zowel in eigen beheer als in onderaannemingen
- Dienstverlening in de meest ruime zin;
- Klein- en groothandel in computers en computermaterialen,printers,kassa’s,kopijmachines en fototoestellen;
- Klein- en groothandel in papier,fotopapier en aanverwanten.
- De exploitatie van een ontwerp en publiciteitsbureau in allerlei vormen,namelijk:
- Het uitvoeren van research met het oog op commerciële efficiëntie,het uitbaten van een octrooi,marketing en adviesbureau;
- Het inrichten en beheren van een ontwerp en publiciteitsbureau voor uitvoering in opdracht van de industrie en andere takken van de economie,de vennootschap kan daartoe vereiste en zich opdringende begeleidings- en uitwerkingsmiddelen aanwenden;
- Het inrichten en organiseren van jaar- en handelsbeurzen,tentoonstellingen en soortgelijke commerciële manifestaties,kortom,alles wat met verkoop en marktcommunicatie te maken heeft;
- De uitbating van een grafisch bureau en uitgeversbedrijf met aanwending van alle andere daartoe vereiste materialen,middelen en technisch vereist materiaal,zoals ondermeer doch niet beperkend:het beheren van een drukkerij,foto- en filmstudio,een repro- en fotogravure;
- Het uitbaten,beheren en promoten van een video- en filmbedrijf,opname en verkoop van video,film en klank;
- DTP bureau,desktop publishing productie van websites,web-design en database ontwikkeling;
- Advies,begeleiding en organisatie van events;
- De aankoop,verwerking en verkoop van producten,nodig tot of afkomstig van de hiervoor vermelde activiteiten.Alle beletteringsactiviteiten,large format printing,car-wrapping,alle vormen en levering van reclame,spandoeken en werfdoeken,sign,indoor- en outdoor publiciteitsuitingen,interieur aankleding en restyling in de ruimste zin van zijn betekenis.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13040B0863/00S000 | Flanders | 704 m² | 1 · 401 m² | 9.2 m · 2 |