D C.E.L.
ActiveSummary
The computed 12-month bankruptcy probability of D C.E.L. is 3.3% (moderate). The 2025 annual accounts show equity of €5,498 and a net result of €1,998. Its solvency ranks better than 13% of 34,946 sector peers (NACE 43, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 25-09-2024 Normal situation
- Activity
- Insulation installation NACE 43230and 4 others
- Establishment unit
- 2.365.447.641 4100 Seraing, since 25-09-2024
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- ENGLEBERT David Louis Marie-Thérèse GhislainDirector · since 25-09-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 3.3%
- Gross margin
- €3,648
- Turnover
- ≈ €36,000
- estimated
- Profit
- €1,998
- Equity
- €5,498
- Total assets
- €63,664
- 2025 accounts filed 18 days after the deadline
Score breakdownraises riskFounded in 20241 change of registered office in 24 monthsEquity €5,498 (8.6% of total assets)lowers riskFigures for financial year 2025 (filed on 19-08-2026)Show the evidence
Checked score
About 3 in 100 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 43, micro). It does better than 13% of them on solvency, 6% on liquidity and 44% on profitability.
The bankruptcy probability was computed on 01-11-2026 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.
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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Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 18 days after the deadline Filed on 18 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00404642.
Annual accounts 2025 filed on 18-08-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €3,568 |
| Depreciation and write-downs of the year | €803 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as D C.E.L.: insulation installation (NACE 43230). They are comparable in size and age: total assets between €39,500 and €94,400, founded between 2023 and 2025.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | Financial year |
|---|---|---|---|---|---|---|---|
| D C.E.L. Seraing | 2024 | €63,664 | €5,498 | €3,648 | - | €1,998 | 2025 |
| COELHO CONSTRUCT Pajottegem | 2024 | €48,690 | €3,952 | €5,764 | - | €2,952 | 2025 |
| ECO PROFILE Brussel | 2025 | €49,642 | €4,173 | €4,953 | - | €2,173 | 2025 |
| CAJ CONSTRUCT Vorst | 2024 | €94,368 | €58,261 | €6,173 | - | €866 | 2025 |
| SP HVAC Jette | 2023 | €57,539 | €4,414 | €6,355 | €292,007 | -€6,166 | 2026 |
| STM Sint-Jans-Molenbeek | 2023 | €39,505 | €17,782 | €5,861 | - | -€1,738 | 2025 |
| NLC Dour | 2023 | €53,452 | €5,872 | €8,800 | - | €7,066 | 2025 |
They were chosen from the 1,186 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, 2,135 companies had the same profile as D C.E.L. has now. Two years later, 5.2% had gone bankrupt and 92.1% were still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of D C.E.L. itself: 3.3% 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 2,135 companies, not a prediction for D C.E.L.. 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 | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €803 |
| Other operating charges640/8 | €5 |
| Gross operating margin9900 | €3,648 |
| Operating profit (loss)9901 | €2,841 |
| Financial income75/76B | €91 |
| Recurring financial income75 | €91 |
| Financial charges65/66B | €92 |
| Recurring financial charges65 | €92 |
| Profit (loss) for the period before taxes9903 | €2,840 |
| Income taxes67/77 | €842 |
| Profit (loss) for the period9904 | €1,998 |
| Profit (loss) for the period to be appropriated9905 | €1,998 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €63,664 | |
| Fixed assets21/28 | €2,765 | |
| Tangible fixed assets22/27 | €2,765 | |
| Plant, machinery and equipment23 | €1,211 | |
| Furniture and vehicles24 | €1,554 | |
| Current assets29/58 | €60,900 | |
| Stocks and contracts in progress3 | €12,500 | |
| Stocks30/36 | €12,500 | |
| Amounts receivable within one year40/41 | €42,254 | |
| Trade receivables40 | €32,504 | |
| Other amounts receivable41 | €9,750 | |
| Cash at bank and in hand54/58 | €5,216 | |
| Deferred charges and accrued income490/1 | €929 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €63,664 | |
| Equity10/15 | €5,498 | |
| Contributions10/11 | €3,500 | |
| Profit (loss) carried forward14 | €1,998 | |
| Amounts payable17/49 | €58,167 | |
| Amounts payable within one year42/48 | €58,167 | |
| Trade debts44 | €50,632 | |
| Suppliers440/4 | €50,632 | |
| Taxes, remuneration and social security45 | €7,535 | |
| Taxes450/3 | €2,922 | |
| Remuneration and social security454/9 | €4,613 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €1,998 |
| + Depreciation and write-downs630 | €803 |
| Operating cash flow (approximation) | €2,800 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-08-2026 | 2026-00404642 | NBB |
Board & ownership
Directors
Owners and capital
Shareholders
- ENGLEBERT David Louis Marie-Thérèse Ghislain 100 shares (100%) · €3,500 in cash
Capital transactions
- 27-09-2024 Incorporation · €3,500 · 100 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Rémunération des administrateurs, l’assemblée générale décide si le mandat d’administrateur est ou non exercé gratuitement”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 27-09-2024 (in French)
Network & group
D C.E.L. shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of D C.E.L.. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
04-02
Gazette deed
Registered office moved from Liège to Boncelles2 points ▸
- General meeting, 21-10-2024
- Registered-office move, route du Condroz 104/11 à 4100 Boncelles
27-09
Gazette deed
IncorporationStarting capital €3,500 · Appointment: ENGLEBERT David Louis Marie-Thérèse Ghislain (director) · Permanent representative: ENGLEBERT David Louis Marie-Thérèse Ghislain · Founder14 points ▸
- Incorporation, 24-09-2024
- Founder, ENGLEBERT David Louis Marie-Thérèse Ghislain
- Other provision, “plan financier, capitaux propres de départ justifiés” (deed in French)
- Other provision, “responsabilite fondateurs, faillite si capitaux propres de départ manifestement insuffisants” (deed in French)
- Founding capital, €3,500
- ENGLEBERT David Louis Marie-Thérèse Ghislain holds all the shares
- General meeting, “comparant, à dater du dépôt au greffe d’une expédition de l’acte constitutif, conformément à la loi” (deed in French)
- Registered office clause, “Rue de Fléron”, 146/001, “4020 Liège (Jupille-sur-Meuse)” (deed in French)
- Board rule, 1
- Director appointment, ENGLEBERT David Louis Marie-Thérèse Ghislain (director (not named in the articles))
- Permanent representative, ENGLEBERT David Louis Marie-Thérèse Ghislain
- Pre-incorporation commitments, “takeover, tous les engagements ainsi que les obligations qui en résultent, et toutes les activités entreprises depuis le 1er septembre deux mille vingt-quatre p…” (deed in French)
- The act holds 2 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
10 activities
- Isolation
- Installation de stores et bannes
- Menuiserie
- Pose de revêtements en bois de sols et de murs
- Vitrerie
- Travaux de couverture
- Parachèvement
- Travaux de charpente, zinguerie
- Maçonnerie
- Serrurerie
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 1014.123.815
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62019B0173/00R000 | Wallonia | 4,667 m² | 1 · 1,739 m² | 9.3 m · 2 |