CYGNOR
ActiveSummary
CYGNOR has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €189k and a net result of €986. Equity is growing by ~20.5% per year across the filed fiscal years. Its solvency ranks better than 68% of 13417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+4
Solvency76▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity short (current ratio 0.47 against 0.69 in 2024; short-term debt: 43.1% and cash: 5.5% of total assets), and 48.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
51.3%
Return on assets
0.3%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-07-2026, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
5 d early
2024
30 d late
2023
69 d late
2022
on the day
2021
on the day
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€189k▲ 0.5%
2024 · €188k
2018: €53k
2019: €73k▲ +38.0% vs 2018
2020: €42k▼ -42.2% vs 2019lowest in 8 years
2021: €82k▲ +93.5% vs 2020
2022: €159k▲ +93.0% vs 2021
2023: €198k▲ +24.9% vs 2022highest in 8 years
2024: €188k▼ -5.1% vs 2023
2025: €189k▲ +0.5% vs 2024
2018 → 2025
Total assets
€369k▼ 3.6%
2024 · €382k
2018: €166klowest in 8 years
2019: €218k▲ +31.7% vs 2018
2020: €255k▲ +16.9% vs 2019
2021: €255k▼ -0.1% vs 2020
2022: €345k▲ +35.3% vs 2021
2023: €348k▲ +0.8% vs 2022
2024: €382k▲ +9.9% vs 2023highest in 8 years
2025: €369k▼ -3.6% vs 2024
2018 → 2025
Net result
€986
2024 · €-10k
2018: €2k
2019: €29k▲ +1083% vs 2018
2020: €-31k▼ -206% vs 2019lowest in 8 years
2021: €40k▲ +228% vs 2020
2022: €76k▲ +92.4% vs 2021highest in 8 years
2023: €40k▼ -48.3% vs 2022
2024: €-10k▼ -126% vs 2023
2025: €986▲ +110% vs 2024
2018 → 2025
Working capital
€-85k▼ 79.4%
2024 · €-47k
2018: €-33k
2019: €-8k▲ +76.8% vs 2018
2020: €22k▲ +394% vs 2019
2021: €-3k▼ -116% vs 2020
2022: €37k▲ +1161% vs 2021
2023: €53k▲ +44.1% vs 2022highest in 8 years
2024: €-47k▼ -189% vs 2023
2025: €-85k▼ -79.4% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€82k-€159k▲ 93.0%€198k▲ 24.9%€188k▼ 5.1%€189k▲ 0.5%
2021: €82klowest in 5 years
2022: €159k▲ +93.0% vs 2021
2023: €198k▲ +24.9% vs 2022highest in 5 years
2024: €188k▼ -5.1% vs 2023
2025: €189k▲ +0.5% vs 2024
Operating result€47k-€102k▲ 119%€62k▼ 38.9%€-9k€3k
2021: €47k
2022: €102k▲ +119% vs 2021highest in 5 years
2023: €62k▼ -38.9% vs 2022
2024: €-9k▼ -114% vs 2023lowest in 5 years
2025: €3k▲ +138% vs 2024
Net result€40k-€76k▲ 92.4%€40k▼ 48.3%€-10k€986
2021: €40k
2022: €76k▲ +92.4% vs 2021highest in 5 years
2023: €40k▼ -48.3% vs 2022
2024: €-10k▼ -126% vs 2023lowest in 5 years
2025: €986▲ +110% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3k after a loss of €9k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €369k
Fixed assets
€295k ▲ 6.8%
Current assets
€74k ▼ 30.4%
Equity and liabilities €369k
Equity
€189k ▲ 0.5%
Provisions
€8k =
Debt
€171k ▼ 7.8%
Debt's share of the balance-sheet total falls from 48.7% to 46.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€45k▲
2024 · €31k
Cash flow
€43k▲
2024 · €30k
Current ratio
0.47▼
2024 · 0.69
Debt to equity
0.91▼
2024 · 0.99
ROE
0.5%▲
2024 · -5.4%
ROA
0.3%▲
2024 · -2.6%
Interest coverage
16.81▲
2024 · 13.71
Debt ≤ 1 year
€159k▲
2024 · €153k
Debt > 1 year
€13k▼
2024 · €24k
Income taxes
€357▲
2024 · €-1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€382k€369k▼
Fixed assets21/28€276k€295k▲
Tangible fixed assets22/27€276k€295k▲
Plant, machinery and equipment23€17k€12k▼
Furniture and vehicles24€13k€17k▲
Other tangible fixed assets26€246k€266k▲
Current assets29/58€106k€74k▼
Amounts receivable within one year40/41€75k€45k▼
Trade receivables40€65k€34k▼
Other amounts receivable41€11k€11k▲
Cash at bank and in hand54/58€28k€20k▼
Deferred charges and accrued income490/1€3k€9k▲
Equity and liabilities
Total equity and liabilities10/49€382k€369k▼
Equity10/15€188k€189k▲
Contributions10/11€19k€19k=
Reserves13€180k€180k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€178k€178k=
Profit (loss) carried forward14€-10k€-9k▲
Provisions and deferred taxes16€8k€8k=
Provisions for liabilities and charges160/5€8k€8k=
Major repairs and maintenance162€8k€8k=
Amounts payable17/49€186k€171k▼
Amounts payable after more than one year17€24k€13k▼
Financial debts170/4€24k€13k▼
Amounts payable within one year42/48€153k€159k▲
Current portion of amounts payable after more than one year42€10k€4k▼
Trade debts44€51k€56k▲
Suppliers440/4€51k€56k▲
Advances received on contracts in progress46€12k€17k▲
Taxes, remuneration and social security45€16k€16k▼
Taxes450/3€16k€16k▼
Remuneration and social security454/9€30-
Other amounts payable47/48€64k€66k▲
Accrued charges and deferred income492/3€9k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€40k€42k▲
Other operating charges640/8€4k€3k▼
Gross operating margin9900€35k€48k▲
Operating profit (loss)9901€-9k€3k▲
Financial income75/76B€85€611▲
Recurring financial income75€85€611▲
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€-11k€1k▲
Income taxes67/77€-1k€357▲
Profit (loss) for the period9904€-10k€986▲
Profit (loss) for the period to be appropriated9905€-10k€986▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€-9k▲
Profit (loss) brought forward from the previous period14P-€-10k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32k | €38k | €40k | €40k | €42k | ▲ 4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €-357 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €1k | - | - | - | - | - |
| Other operating charges640/8 | - | €2k | €4k | €4k | €3k | ▼ 32.1% |
| Gross operating margin9900 | €80k | €141k | €105k | €35k | €48k | ▲ 35.9% |
| Operating profit (loss)9901 | €47k | €102k | €62k | €-9k | €3k | ▲ 138% |
| Financial income75/76B | - | €5 | €135 | €85 | €611 | ▲ 620% |
| Recurring financial income75 | - | €5 | €135 | €85 | €611 | ▲ 620% |
| Financial charges65/66B | €3k | €3k | €2k | €2k | €3k | ▲ 18.6% |
| Recurring financial charges65 | €3k | €3k | €2k | €2k | €3k | ▲ 18.6% |
| Profit (loss) for the period before taxes9903 | €44k | €99k | €60k | €-11k | €1k | ▲ 112% |
| Income taxes67/77 | €4k | €23k | €21k | €-1k | €357 | ▲ 135% |
| Profit (loss) for the period9904 | €40k | €76k | €40k | €-10k | €986 | ▲ 110% |
| Profit (loss) for the period to be appropriated9905 | €40k | €76k | €40k | €-10k | €986 | ▲ 110% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €255k | €345k | €348k | €382k | €369k | ▼ 3.6% |
| Fixed assets21/28 | €203k | €232k | €214k | €276k | €295k | ▲ 6.8% |
| Intangible fixed assets21 | €189 | - | - | - | - | - |
| Tangible fixed assets22/27 | €203k | €232k | €214k | €276k | €295k | ▲ 6.8% |
| Plant, machinery and equipment23 | €28k | €22k | €20k | €17k | €12k | ▼ 28.5% |
| Furniture and vehicles24 | €10k | €17k | €16k | €13k | €17k | ▲ 27.4% |
| Other tangible fixed assets26 | €165k | €193k | €178k | €246k | €266k | ▲ 8.1% |
| Current assets29/58 | €52k | €113k | €134k | €106k | €74k | ▼ 30.4% |
| Amounts receivable within one year40/41 | €26k | €17k | €55k | €75k | €45k | ▼ 40.2% |
| Trade receivables40 | €25k | €14k | €54k | €65k | €34k | ▼ 47.3% |
| Other amounts receivable41 | €837 | €3k | €1k | €11k | €11k | ▲ 3.7% |
| Cash at bank and in hand54/58 | €20k | €79k | €73k | €28k | €20k | ▼ 27.8% |
| Deferred charges and accrued income490/1 | €5k | €17k | €7k | €3k | €9k | ▲ 185% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €255k | €345k | €348k | €382k | €369k | ▼ 3.6% |
| Equity10/15 | €82k | €159k | €198k | €188k | €189k | ▲ 0.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €64k | €140k | €180k | €180k | €180k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €62k | €138k | €178k | €178k | €178k | = |
| Profit (loss) carried forward14 | - | - | - | €-10k | €-9k | ▲ 9.8% |
| Provisions and deferred taxes16 | €8k | €8k | €8k | €8k | €8k | = |
| Provisions for liabilities and charges160/5 | €8k | €8k | €8k | €8k | €8k | = |
| Major repairs and maintenance162 | €8k | €8k | €8k | €8k | €8k | = |
| Amounts payable17/49 | €165k | €178k | €142k | €186k | €171k | ▼ 7.8% |
| Amounts payable after more than one year17 | €75k | €65k | €37k | €24k | €13k | ▼ 47.1% |
| Financial debts170/4 | €75k | €65k | €37k | €24k | €13k | ▼ 47.1% |
| Amounts payable within one year42/48 | €55k | €76k | €81k | €153k | €159k | ▲ 3.5% |
| Current portion of amounts payable after more than one year42 | €10k | €9k | €10k | €10k | €4k | ▼ 58.0% |
| Trade debts44 | €17k | €18k | €35k | €51k | €56k | ▲ 8.6% |
| Suppliers440/4 | €17k | €18k | €35k | €51k | €56k | ▲ 8.6% |
| Advances received on contracts in progress46 | €17k | €10k | €10k | €12k | €17k | ▲ 46.3% |
| Taxes, remuneration and social security45 | €5k | €32k | €25k | €16k | €16k | ▼ 0.8% |
| Taxes450/3 | €5k | €32k | €25k | €16k | €16k | ▼ 0.6% |
| Remuneration and social security454/9 | - | - | €549 | €30 | - | - |
| Other amounts payable47/48 | €6k | €7k | €780 | €64k | €66k | ▲ 2.4% |
| Accrued charges and deferred income492/3 | €35k | €37k | €23k | €9k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40k | €76k | €40k | €-10k | €986 | ▲ 110% |
| + Depreciation and write-downs630 | €32k | €38k | €40k | €40k | €42k | ▲ 4.5% |
| Operating cash flow (approximation) | €72k | €114k | €79k | €30k | €43k | ▲ 43.0% |
| Investment in fixed assets (approximation) | - | €-66k | €-21k | €-102k | €-60k | ▲ 41.0% |
| Change in cash | - | €59k | €-7k | €-45k | €-8k | ▲ 82.7% |
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
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €986
Net result €986 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €76k ▲92.4%
Operating result €102k, net result €76k, both a record.
31-12
Financial
Equity above €150kEq €159k ▲93%
2 profitable years in a row build equity to €159k.
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €40k
Net result €40k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €-31k
Net result drops to €-31k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
Show earlier events
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Gent · 1 establishment unit since 2013
Ground area
6,730 m²
Building footprint
3,781 m²
Volume, LiDAR
23,070 m³
Parcel 44017C0729/00T008, Flanders · tallest building 14.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Blanc Fixe
since 20132.219.939.624
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017C0729/00T008 | Flanders | 6,730 m² | 1 · 3,781 m² | 14.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 5,159 EUR awarded · 5,159 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 5,159 EUR | 5,159 EUR |
Schemes
Vlaams Beschermingsmechanisme 11 (stopgezet)
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Of 7,502 companies in sector 56210 we hold annual accounts for 2,446. 1,773 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 (pre-2019)
Founded21-02-2013
Fiscal year end31-12
Activities, NACEBEL 2025
56210Event catering
74120Graphic design and visual communication
74130Interior design
74140Other specialised design activities
74201Photography, excluding press photography
81300Landscape service activities
82300Organisation of conventions and trade shows
Scores and ratios are computed by Checked and are not a credit decision.