CUVELIER & Co
ActiveSummary
CUVELIER & Co has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €189,934 and a net result of -€3,072. Equity is growing by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 55% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-1
Solvency86▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity short (current ratio 0.14 against 0.59 in 2024; short-term debt: 9.2% and cash: 1.3% of total assets), and 38.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
61.5%
Return on assets
-1%
Age of the figures
18 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 18-11-2025, 18 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
18 d late
2024
35 d early
2023
22 d early
2022
68 d early
2021
204 d late
2020
9 d late
2019
29 d early
← 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 11 days after 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 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 9 October (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€189,934▼ 1.6%
2024 · €193,006
Total assets
€309,042▼ 14.8%
2024 · €362,865
Net result
-€3,072
2024 · €545
Working capital
-€24,343▼ 6.4%
2024 · -€22,888
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Operating result€90,152▲ 235%€7,846▼ 91.3%€29,826▲ 280%€6,316▼ 78.8%€950▼ 85.0%
Net result€63,187above the sector's middle half▲ 338%€3,518within the sector's middle half▼ 94.4%€19,885within the sector's middle half▲ 465%€545below the sector's middle half▼ 97.3%-€3,072below the sector's middle half
Equity€169,078within the sector's middle half▲ 59.7%€172,597within the sector's middle half▲ 2.1%€192,461within the sector's middle half▲ 11.5%€193,006within the sector's middle half▲ 0.3%€189,934within the sector's middle half▼ 1.6%
Total assets€403,421within the sector's middle half▲ 3.3%€373,022within the sector's middle half▼ 7.5%€397,021within the sector's middle half▲ 6.4%€362,865within the sector's middle half▼ 8.6%€309,042within the sector's middle half▼ 14.8%
Debt€147,382▼ 16.9%€122,269▼ 17.0%€130,799▲ 7.0%€106,012▼ 19.0%€65,175▼ 38.5%
Working capital-€49,043below the sector's middle half▲ 48.8%-€48,195below the sector's middle half▲ 1.7%-€31,673below the sector's middle half▲ 34.3%-€22,888below the sector's middle half▲ 27.7%-€24,343below the sector's middle half▼ 6.4%
Solvency41.9%within the sector's middle half▲ 14.8pp46.3%within the sector's middle half▲ 4.4pp48.5%within the sector's middle half▲ 2.2pp53.2%within the sector's middle half▲ 4.7pp61.5%within the sector's middle half▲ 8.3pp
Current ratio0.47below the sector's middle half▲ 0.310.36below the sector's middle half▼ 0.110.53below the sector's middle half▲ 0.160.59below the sector's middle half▲ 0.070.14below the sector's middle half▼ 0.45
Return on assets (ROA)15.7%within the sector's middle half▲ 12.0pp0.9%below the sector's middle half▼ 14.7pp5.0%within the sector's middle half▲ 4.1pp0.2%below the sector's middle half▼ 4.9pp-1.0%below the sector's middle half▼ 1.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 85% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €309,042
Fixed assets
€304,921 ▼ 7.4%
Current assets
€4,121 ▼ 87.7%
Equity and liabilities €309,042
Equity
€189,934 ▼ 1.6%
Provisions
€53,933 ▼ 15.5%
Debt
€65,175 ▼ 38.5%
Debt's share of the balance-sheet total falls from 29.2% to 21.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€33,874▼
2024 · €40,034
Cash flow
€29,852▼
2024 · €34,262
Debt to equity
0.34▼
2024 · 0.55
ROE
-1.6%▼
2024 · 0.3%
Interest coverage
6.82▼
2024 · 7.14
Debt ≤ 1 year
€28,464▼
2024 · €56,493
Debt > 1 year
€36,711▼
2024 · €49,413
Income taxes
€1,469▼
2024 · €2,579
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 12,321 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,139 | €27,813 | €30,035 | €33,717 | €32,924 | ▼ 2.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€23,089 | - | - | - | - | - |
| Other operating charges640/8 | €1,761 | €2,813 | €4,783 | €4,353 | €1,917 | ▼ 56.0% |
| Gross operating margin9900 | €93,963 | €38,472 | €64,644 | €44,387 | €35,791 | ▼ 19.4% |
| Operating profit (loss)9901 | €90,152 | €7,846 | €29,826 | €6,316 | €950 | ▼ 85.0% |
| Financial income75/76B | €506 | €32 | €41 | - | - | - |
| Recurring financial income75 | €506 | €32 | €41 | - | - | - |
| Financial charges65/66B | €5,287 | €2,982 | €4,497 | €5,606 | €4,967 | ▼ 11.4% |
| Recurring financial charges65 | €5,287 | €2,982 | €4,497 | €5,606 | €4,967 | ▼ 11.4% |
| Profit (loss) for the period before taxes9903 | €85,370 | €4,897 | €25,370 | €710 | -€4,017 | ▼ 666% |
| Transfer from deferred taxes780 | €1,291 | €1,304 | €2,292 | €2,414 | €2,414 | = |
| Transfer to deferred taxes680 | €9,674 | - | €4,750 | - | - | - |
| Income taxes67/77 | €13,801 | €2,683 | €3,027 | €2,579 | €1,469 | ▼ 43.0% |
| Profit (loss) for the period9904 | €63,187 | €3,518 | €19,885 | €545 | -€3,072 | ▼ 664% |
| Transfer from tax-exempt reserves789 | €2,944 | €2,982 | €5,943 | €7,241 | €7,241 | = |
| Transfer to tax-exempt reserves689 | €29,081 | - | €14,249 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €37,050 | €6,500 | €11,579 | €7,786 | €4,169 | ▼ 46.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €403,421 | €373,022 | €397,021 | €362,865 | €309,042 | ▼ 14.8% |
| Fixed assets21/28 | €360,025 | €345,430 | €361,591 | €329,260 | €304,921 | ▼ 7.4% |
| Tangible fixed assets22/27 | €359,362 | €344,766 | €360,928 | €328,597 | €304,258 | ▼ 7.4% |
| Land and buildings22 | €303,500 | €295,838 | €294,462 | €269,017 | €247,704 | ▼ 7.9% |
| Plant, machinery and equipment23 | €803 | €514 | €24,030 | €21,376 | €18,945 | ▼ 11.4% |
| Furniture and vehicles24 | €4,031 | €2,710 | €1,630 | €2,031 | €6,066 | ▲ 199% |
| Other tangible fixed assets26 | €51,028 | €45,705 | €40,805 | €36,174 | €31,542 | ▼ 12.8% |
| Financial fixed assets28 | €663 | €663 | €663 | €663 | €663 | = |
| Current assets29/58 | €43,396 | €27,593 | €35,430 | €33,605 | €4,121 | ▼ 87.7% |
| Amounts receivable within one year40/41 | €14,764 | €24,929 | €24,248 | €14,997 | - | - |
| Trade receivables40 | €14,602 | €24,929 | €23,275 | €14,997 | - | - |
| Other amounts receivable41 | €162 | - | €973 | - | - | - |
| Cash at bank and in hand54/58 | €28,632 | €2,035 | €10,444 | €17,842 | €4,121 | ▼ 76.9% |
| Deferred charges and accrued income490/1 | - | €628 | €738 | €766 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €403,421 | €373,022 | €397,021 | €362,865 | €309,042 | ▼ 14.8% |
| Equity10/15 | €169,078 | €172,597 | €192,461 | €193,006 | €189,934 | ▼ 1.6% |
| Contributions10/11 | €26,250 | €26,250 | €26,250 | €26,250 | €26,250 | = |
| Reserves13 | €105,845 | €142,864 | €161,149 | €163,908 | €156,666 | ▼ 4.4% |
| Non-distributable reserves130/1 | €2,804 | €2,804 | €2,804 | €2,804 | €2,804 | = |
| Reserves not available under the articles1311 | €2,804 | €2,804 | €2,804 | €2,804 | €2,804 | = |
| Tax-exempt reserves132 | €43,041 | €40,060 | €48,345 | €41,104 | €33,863 | ▼ 17.6% |
| Distributable reserves133 | €60,000 | €100,000 | €110,000 | €120,000 | €120,000 | = |
| Profit (loss) carried forward14 | €36,983 | €3,483 | €5,062 | €2,848 | €7,017 | ▲ 146% |
| Provisions and deferred taxes16 | €86,961 | €78,157 | €73,760 | €63,847 | €53,933 | ▼ 15.5% |
| Provisions for liabilities and charges160/5 | €70,530 | €63,030 | €56,155 | €48,655 | €41,155 | ▼ 15.4% |
| Pensions and similar obligations160 | €28,780 | €28,780 | €28,780 | €28,780 | €28,780 | = |
| Other liabilities and charges164/5 | €41,750 | €34,250 | €27,375 | €19,875 | €12,375 | ▼ 37.7% |
| Deferred taxes168 | €16,431 | €15,127 | €17,605 | €15,192 | €12,778 | ▼ 15.9% |
| Amounts payable17/49 | €147,382 | €122,269 | €130,799 | €106,012 | €65,175 | ▼ 38.5% |
| Amounts payable after more than one year17 | €54,942 | €46,482 | €63,697 | €49,413 | €36,711 | ▼ 25.7% |
| Financial debts170/4 | €54,942 | €46,482 | €63,697 | €49,413 | €36,711 | ▼ 25.7% |
| Amounts payable within one year42/48 | €92,439 | €75,787 | €67,103 | €56,493 | €28,464 | ▼ 49.6% |
| Current portion of amounts payable after more than one year42 | €8,295 | €8,461 | €13,916 | €14,283 | €12,702 | ▼ 11.1% |
| Financial debts43 | - | €202 | €1,290 | €784 | - | - |
| Credit institutions430/8 | - | €202 | €1,290 | €784 | - | - |
| Trade debts44 | €22,101 | €29,011 | €29,842 | €28,216 | €11,107 | ▼ 60.6% |
| Suppliers440/4 | €22,101 | €29,011 | €29,842 | €28,216 | €11,107 | ▼ 60.6% |
| Advances received on contracts in progress46 | - | €821 | - | - | - | - |
| Taxes, remuneration and social security45 | €24,432 | €13,775 | €8,510 | €4,929 | €4,282 | ▼ 13.1% |
| Taxes450/3 | €24,432 | €13,775 | €8,510 | €4,929 | €4,282 | ▼ 13.1% |
| Other amounts payable47/48 | €37,611 | €23,517 | €13,545 | €8,281 | €373 | ▼ 95.5% |
| Accrued charges and deferred income492/3 | - | - | - | €106 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €63,187 | €3,518 | €19,885 | €545 | -€3,072 | ▼ 664% |
| + Depreciation and write-downs630 | €25,139 | €27,813 | €30,035 | €33,717 | €32,924 | ▼ 2.4% |
| Operating cash flow (approximation) | €88,326 | €31,332 | €49,919 | €34,262 | €29,852 | ▼ 12.9% |
| Investment in fixed assets (approximation) | - | -€13,218 | -€46,196 | -€1,387 | -€8,585 | ▼ 519% |
| Change in cash | - | -€26,596 | €8,408 | €7,398 | -€13,721 | ▼ 285% |
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
2025
18-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
23-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 204 days late
2021
31-03
Financial
Highest result since 2019net €63,187 ▲338%
Operating result €90,152, net result €63,187, both a record.
31-03
Financial
Equity above €150,000Eq €169,078 ▲59.7%
2 profitable years in a row build equity to €169,078.
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
31-03
Financial
Back to profitnet €14,438
Net result €14,438 after one loss-making year.
31-03
Financial
Equity above €100,000Eq €105,891 ▲15.8%
Equity rises from €91,453 to €105,891.
2019
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
06-10
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 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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, Rochefort · 1 establishment unit since 2001
Ground area
2,153 m²
Building footprint
370 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
DECLIC
since 20012.097.897.588
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91024B0097/00P000 | Wallonia | 1,183 m² | 1 · 188 m² | - |
| 91024C0055/00R000 | Wallonia | 970 m² | 1 · 182 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
JMP Technics
BE 0658.741.351
Tielt · Eq €189,934
ACTUMANAGEMENT
BE 0885.145.685
Thuin · Eq €189,929
Isabelle SWOLFS
BE 0743.482.036
Ottignies-Louvain-la-Neuve · Eq €189,943
LB Management Consulting
BE 1011.530.351
Arendonk · Eq €189,943
ROZANOWSKI CONSULTING
BE 0767.532.294
Schaarbeek · Eq €189,921
Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 40,240 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
Founded22-01-2001
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473926162
Registered
25-11-2025
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.