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CValue

Active Private limited company (pre-2019)founded 2010active for 15 yearsKapel ter Bede 8, 8500 KortrijkKBO/BCE: BE 0831.776.978
CValue
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Overview

Lifetime

14 annual accounts with figures on one time axis
peak €57,091 (2012)
€54,759▲ 68.9%
lowest -€4,761 (2018)
€29,615▲ 84.3%
peak €110,777 (2025)
€110,777▲ 36.5%
€22,376▲ 33.2%
Board1 name since 2022
1 directorVanfleteren Christophe
Documentsfilings and deeds
22-04-20268 days before the deadline
2025micro format
Gross margin from €32,417 to €54,759Result from €16,068 to €29,615Equity from €81,163 to €110,777Debts from €16,804 to €22,376Cash from €37,457 to €71,761

Key points

from the 2025 annual accounts

Equity

€110,777 ▲ 36.5%

CValue has made a profit without a break since 2020.

Turnover

≈ €160,000 estimated

The micro format states no turnover.

Filings

14 annual accounts since 2012
deadline201520202025

The 2017 accounts came 294 days late. The other nine of the last ten were filed on time.

Checked score

97
Excellent
Financially stronger than 79% of micro companies in computing infrastructure and information services (NACE 63)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 2,946 companies (NACE 63, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025highest value 05-2025: < 0.1%▼ -0.1 percentage points vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026lowest value 09-2026: < 0.1%● unchanged vs 08-2026lowest value 10-2026: < 0.1%● unchanged vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026

Financial strength
Strong

100=equity 83.2% of total assets
96+2short-term debt 16.3% · cash 53.9%
97+8return on assets 22.2%

Score breakdown

lowers risk
Liquidity: current ratio 5.50, cash €71,761
Equity €110,777 (83.2% of total assets)
Sector: Computing infrastructure, data processing, hosting and other information service activities (NACE 63)
Figures for financial year 2025 (filed on 28-04-2026)
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 63, micro). It does better than 86% of them on solvency, 88% on liquidity, 67% on profitability and 74% on growth.

The bankruptcy probability was computed on 08-11-2026 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 30-09-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 34,693 companies had the same profile as CValue has now. Each dot stands for 87 companies, two years later.

95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
  • 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 CValue itself: < 0.1% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 CValue. 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

Credit of up to €10,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 5.5 (5.36 in 2024), above the usual 1.5. Short-term debt is 16.3% and cash 53.9% of total assets. 16.8% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

5 signals, none raises the risk
Five signals.
lowers riskneutral
lowers risk · Liquidity: current ratio 5.50, cash €71,761
NBB · annual accounts
lowers risk · Equity €110,777 (83.2% of total assets)
NBB · annual accounts
lowers risk · Sector: Computing infrastructure, data processing, hosting and other information service activities (NACE 63)
KBO
lowers risk · Figures for financial year 2025 (filed on 28-04-2026)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 22-04-2026, 8 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
8 days early
2024
8 days early
2023
7 days early
2022
5 days early
2021
31 days early
2020
1 day early
2019
on the day
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 9 days before the deadline. In the sector (NACE 63), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 22 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
30-09-2026 year end09-11-2026 today30-04-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

VC
Vanfleteren Christophe
Director
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0831776978
Incorporation published on 14-12-2010 · Gazette deed
First establishment Kapel ter Bede 8, Kortrijk
All 22 events

Comparable companies

same main activity, similar in size and age
Company
CValue Kortrijk €133,153 €54,759 83.2% -
DENK FREELANCE Lichtervelde €140,373 €51,382 60.8% 0
AKAPIVO Nijlen €118,603 €47,873 68.1% -
CORECO Aalst €111,833 €54,079 78.5% -
SQUARE ONE Sint-Truiden €149,143 €56,422 74.8% -
SEMSITIVITY Forest €153,365 €69,201 75.8% -
ALL BURO SOLUTIONS Bruges €162,081 €36,587 70.9% -

These companies have the same main activity as CValue: computing infrastructure, data processing, hosting and related activities (NACE 63100). They are comparable in size and age: total assets between €112,000 and €162,000, founded between 2008 and 2013.

Official details

Source: KBO
Status
Active since 09-12-2010Normal situation
Activity
Computing infrastructure, data processing, hosting and related activitiesNACE 63100and 2 others
Establishment unit
2.194.213.7398500 Kortrijk, since 09-12-2010
Financial year end
30 September
Peppol
Reachable since 20-12-2024
Company details

Annual accounts to 30-09-2025

€54,759▲ 68.9%
€29,615▲ 84.3%
€110,777▲ 36.5%
€133,153▲ 35.9%
Filing
Filed on 22-04-2026, 8 days before the end of the filing period
Financials

Insights on CValue

CValue files the micro format. That format states no turnover. The gross margin fell from €57,091 in 2012 to €54,759 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 22-04-2026, 8 days before the deadline
€54,759
▲ 68.9%
€45,356
▲ 96.4%
€29,615
▲ 84.3%
€97,851
▲ 48.5%
83.2%
▲ 0.3 percentage points
5.50
▲ 0.14

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €160,000. Estimated: probably between €110,000 and €290,000.

Balance sheet

balance sheet total €133,153 on 30-09-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

83.2%

Higher than 80% of 2,301 companies in 2025.

5.50

Higher than 79% of 2,198 companies in 2025.

22.2%

Higher than 62% of 2,232 companies in 2025.

CValue Middle half of the sector 80% of the sector Micro accounts in computing infrastructure and information services (NACE 63)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012
Balance sheet: assets
20/58 133,15397,96784,14099,38978,124103,26790,274102,03799,750104,26497,19476,10184,38778,613
21/28 13,56616,98625,74830,4116,63010,70814,76719,17427,1928,6969,74212,66416,87629,208
22/27 13,56616,98625,74830,4116,63010,70814,76719,17427,1928,6969,74212,66416,87629,208
22 ---9991902814381,7853,1554,5545,0836,3542,737
23 4,5001,2151,858--33066005761,15368391057401
24 9,06615,77123,89030,4026,53110,18913,82718,73624,8314,3884,5056,67010,46426,070
29/58 119,58780,98158,39368,97871,49492,55975,50782,86372,55895,56887,45263,43667,51149,405
40/41 28,42913,03722,07217,63811,91824,13733,30379,79817,06720,53727,27314,8214,98523,057
40 28,42913,03021,73016,6046,04920,98833,30365,0438,92120,53727,27314,4844,98523,057
41 073421,0345,8693,150-14,7558,145--337--
54/58 71,76137,45724,38541,20958,77567,64041,4403,06550,49175,03160,17848,61662,52626,348
490/1 19,39730,48711,93610,131800781764-5,000-----
Balance sheet: equity and liabilities
10/49 133,15397,96784,14099,38978,124103,26790,274102,03799,750104,26497,19476,10184,38778,613
10/15 110,77781,16365,81753,93149,30462,34568,91569,26174,02269,58161,64344,47143,62134,073
10/11 12,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,400
100 ------18,60018,60018,60018,60018,60018,60018,60018,600
101 ------6,2006,2006,2006,2006,2006,2006,2006,200
13 98,37768,76353,41741,53136,90449,94556,51556,86161,62257,18149,24332,07131,22121,673
130/1 1,8601,8601,8601,8601,8601,860--------
130 ------1,8601,8601,8601,8601,8601,8601,8601,860
1311 1,8601,8601,8601,8601,8601,860--------
132 ----4,75015,50015,50015,50015,50015,50015,50015,50015,50010,750
133 96,51766,90351,55739,67130,29432,58539,15539,50144,26239,82131,88314,71113,8619,063
14 00------------
17/49 22,37616,80418,32345,45828,82040,92221,36032,77625,72834,68435,55131,63040,76644,540
17 ---3,149--------2,2889,010
170/4 ---3,149--------2,2889,010
42/48 21,73615,10717,46141,73228,82040,44120,96232,26525,72834,68435,55131,63038,47835,530
42 -03,1497,506-------2,2886,7226,516
44 867458854,976282,0541,2618,2163,8479,59810,47416,5957,5727,556
440/4 867458854,976282,0541,2618,2163,8479,59810,47416,5957,5727,556
45 14,5698,0918,1616,4673,61310,2008,16416,00712,89911,45512,7691,5417,2458,981
450/3 14,5698,0918,1616,4673,61310,2008,16416,00712,89911,45512,7691,5417,2458,981
47/48 6,3006,5596,06622,78325,17928,18711,5388,0428,98213,63012,30811,20716,93912,478
492/3 6401,697863577-481397511------
Income statement
76A ---49----------
9900 54,75932,41727,82010,30914,16725,3909,30612,08012,44718,58334,22915,94326,98857,091
630 8,8258,7628,5885,8707,5087,4757,35010,06010,4624,8297,00612,22112,33226,246
640/8 5795635325415425559094,553464586577576959472
66A ---468----------
9901 45,35623,09218,7003,4306,11717,3601,047-2,5321,52113,16826,6463,14513,69630,373
75/76B 9464-11,765371275,697102196318164141
75 9464-03712747102196318164141
76B ---11,765----5,650-----
65/66B 1,1665761,0738591336148071,6792859029971,3011,6582,203
65 1,1665761,0738591336148071,6792859029971,3011,6582,203
9903 44,28422,58017,62714,3375,98816,753241-4,1846,93212,36925,8452,16212,20328,311
67/77 14,6706,5124,9084,4684,6445,3505885772,4914,4318,6731,3122,6546,638
9904 29,61516,06812,7199,8691,34411,403-347-4,7614,4427,93817,1728509,54821,673
789 ---4,75010,750---------
689 ------------4,75010,750
9905 29,61516,06812,71914,61912,09411,403-347-4,7614,4427,93817,1728504,79810,923
Appropriation of the result
9906 29,61516,06812,71914,61912,09411,403-347-4,7614,4427,93817,1728504,79810,923
791/2 07228335,24214,38517,9723474,761------
691/2 29,61516,06812,71914,61912,09411,403--4,4427,93817,1728504,79810,923
6920 -------------1,860
6921 29,61516,06812,71914,61912,09411,403--4,4427,93817,1728504,7989,063
694/7 07228335,24214,38517,972--------
694 07228335,24214,38517,972--------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 22-04-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
30-09-2025 micro format 22-04-2026 2026-00090266 PDF
30-09-2024 micro format 22-04-2025 2025-00072247 PDF
30-09-2023 micro format 23-04-2024 2024-00068682 PDF
30-09-2022 micro format 25-04-2023 2023-00067985 PDF
30-09-2021 micro format 30-03-2022 2022-09000594 PDF
30-09-2020 micro format 29-04-2021 2021-13300363 PDF
30-09-2019 micro format 30-04-2020 2020-10900329 PDF
30-09-2018 micro format 29-04-2019 2019-11200556 PDF
30-09-2017 micro format 18-02-2019 2019-05200169 PDF
30-09-2016 abbreviated format 30-03-2017 2017-07800128 PDF
30-09-2015 abbreviated format 30-03-2016 2016-08000350 PDF
30-09-2014 abbreviated format 25-03-2015 2015-07000298 PDF
30-09-2013 abbreviated format 26-03-2014 2014-07900405 PDF
30-09-2012 abbreviated format 26-04-2013 2013-10000012 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012
54,18031,85427,2889,30013,62524,8368,3987,52811,98317,99733,65215,36726,02856,619
38,43924,83021,30715,7398,85218,8787,0045,29914,90312,76724,17813,07121,88147,919
5,40503,92531,1503,4293,4162,9442,04228,9583,7834,0848,010055,454
34,30413,072-16,824-17,567-8,86526,20038,375-47,426-24,54014,85311,563-13,91136,178-
97,85165,87340,93227,24642,67452,11854,54450,59846,83060,88551,90131,80629,03313,874
83.2%82.8%78.2%54.3%63.1%60.4%76.3%67.9%74.2%66.7%63.4%58.4%51.7%43.3%
5.505.363.341.652.482.293.602.572.822.762.462.011.751.39
0.200.210.280.840.580.660.310.470.350.500.580.710.931.31
26.7%19.8%19.3%18.3%2.7%18.3%-0.5%-6.9%6.0%11.4%27.9%1.9%21.9%63.6%
22.2%16.4%15.1%9.9%1.7%11.0%-0.4%-4.7%4.5%7.6%17.7%1.1%11.3%27.6%
46.4755.3525.4310.83----------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item30-09-202530-09-202430-09-202330-09-2022
Tangible fixed assets€5,405-€3,925€31,150
€8,825€8,762€8,588€5,870

Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)

Insights on CValue

The operating result for 2025 is 96% higher than in 2024 and the highest since 2012. It is the third rise in a row, after the fall in 2022.

Debt's share of the balance-sheet total falls from 17.2% to 16.8%. Equity and debt are higher.

Board & ownership

Board

1 director
Vanfleteren Christophe
Director
listed in the 2025 annual accounts, filed on 22-04-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Vanfleteren Christophe
Director
Boardmandate already running before its first mention
Mandates as a list
  • Vanfleteren Christophe
    • Director, since before 30-09-2022

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€12,400
Source
2025 annual accounts

Network & group

No group

CValue has no parent and no holdings in its annual accounts. Vanfleteren Christophe is the only director. CValue shares no director with another company.

The LEI register names no parent.

Timeline

Timeline

22 events since 2010

Deadline for the 2026 accounts: 30-04-2027

2026
Annual accounts 2025 filed PDFmicro format · 8 days before the deadline
2025
Highest result from 2012 to 2025 net €29,615 ▲84.3% The operating result of €45,356 and the net result of €29,615 are both a record.
Equity above €100,000 equity €110,777 ▲36.5% After 6 profitable years in a row, equity reaches €110,777.
Annual accounts 2024 filed PDFmicro format · 8 days before the deadline
2024
Registered in the Peppol Directory Reachable for e-invoices through 0208:0831776978
Annual accounts 2023 filed PDFmicro format · 7 days before the deadline
2023
Liquidity doubles current ratio 3.34 The current ratio rises from 1.65 to 3.34. Short-term debt falls from €41,732 to €17,461.
Annual accounts 2022 filed PDFmicro format · 5 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 31 days before the deadline
2021
Annual accounts 2020 filed PDFmicro format · 1 day before the deadline
2020
Back to profit net €11,403 The net result is €11,403, after 2 loss-making years.
Annual accounts 2019 filed PDFmicro format · on the deadline day
2019
Annual accounts 2018 filed PDFmicro format · 1 day before the deadline
Annual accounts 2017 filed PDFmicro format · 294 days late
2018
Weakest financial year net -€4,761 The net result drops to -€4,761, the lowest from 2012 to 2025. It recovers the following year.
2017
Annual accounts 2016 filed PDFabbreviated format · 31 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 31 days before the deadline
2015
Annual accounts 2014 filed PDFabbreviated format · 36 days before the deadline
2014
Annual accounts 2013 filed PDFabbreviated format · 35 days before the deadline
2013
Annual accounts 2012 filed PDFabbreviated format · 4 days before the deadline
2010
Incorporation PDFpublished on 14-12-2010
First establishment Kapel ter Bede 8, Kortrijk

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 9 December 2010, CValue was incorporated.1 Total assets went from €90,274 in 2019 to €133,153 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2025

Company details

Identity

Enterprise number
0831.776.978
VAT number
BE 0831.776.978
Peppol ID
0208:0831776978
Other Peppol ID
9925:BE0831776978
LEI code
8945002S32KSWMYFT658 live in the LEI register
Legal form
Private limited company (pre-2019)
Status
Active, normal situation
Founded
09-12-2010
Financial year
ends on 30 September
Peppol
Reachable since 20-12-2024Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
CValue in Dutch
Entity type
Legal entity

Activities

NACEBEL 2025
63100 Computing infrastructure, data processing, hosting and related activities main activity
62900 Other information technology and computer services
63910 Web portal activities
Codes under NACEBEL 2008
63110 Computing infrastructure, data processing, hosting and other information service activities main activity
62090 Computer programming, consultancy and related activities
63120 Computing infrastructure, data processing, hosting and other information service activities

Registered office and establishments

1 establishment
Establishment Since Unit number
Kapel ter Bede 8 registered office 8500 Kortrijk 09-12-2010 2.194.213.739

Buildings and parcels at the address

Ground area
819 m²
Buildings
169 m²
Volume, LiDAR
735 m³
Tallest building
7.3 m
Buildings to scale, each on its own parcel
169 m², 7.3 m 169 m², 7.3 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
34353B0314/00L002819 m² 1 · 169 m² 7.3 m · 1

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