DE CEUSTER
ActiveSummary
DE CEUSTER has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €259,323 and a net result of €15,848. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 80% of 26049 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▲+3
Solvency95▲+4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 3.31 against 2.93 in 2023; short-term debt: 30.3% and cash: 1.6% of total assets), and 30.3% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
61 d late
2022
54 d late
2021
153 d late
2020
92 d late
2019
108 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 88 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€259,323▲ 6.5%
2023 · €243,475
Total assets
€371,824▲ 0.7%
2023 · €369,080
Net result
€15,848▲ 119%
2023 · €7,248
Working capital
€259,323▲ 7.2%
2023 · €241,959
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result€7,287▲ 83.2%-€3,049-€4,188▼ 37.3%€10,187€22,119▲ 117%
Net result€5,287within the sector's middle half▲ 114%-€4,263below the sector's middle half-€5,205below the sector's middle half▼ 22.1%€7,248within the sector's middle half€15,848within the sector's middle half▲ 119%
Equity€245,694above the sector's middle half▲ 2.2%€241,431above the sector's middle half▼ 1.7%€236,227above the sector's middle half▼ 2.2%€243,475above the sector's middle half▲ 3.1%€259,323above the sector's middle half▲ 6.5%
Total assets€361,947above the sector's middle half▲ 3.9%€362,030above the sector's middle half=€348,879above the sector's middle half▼ 3.6%€369,080above the sector's middle half▲ 5.8%€371,824above the sector's middle half▲ 0.7%
Debt€116,253▲ 7.7%€120,598▲ 3.7%€112,653▼ 6.6%€125,605▲ 11.5%€112,501▼ 10.4%
Working capital€239,474above the sector's middle half▲ 2.9%€236,779above the sector's middle half▼ 1.1%€233,142above the sector's middle half▼ 1.5%€241,959above the sector's middle half▲ 3.8%€259,323above the sector's middle half▲ 7.2%
Solvency67.9%above the sector's middle half▼ 1.1pp66.7%above the sector's middle half▼ 1.2pp67.7%above the sector's middle half▲ 1.0pp66.0%above the sector's middle half▼ 1.7pp69.7%above the sector's middle half▲ 3.8pp
Current ratio3.06above the sector's middle half▼ 0.102.96above the sector's middle half▼ 0.103.07above the sector's middle half▲ 0.112.93above the sector's middle half▼ 0.143.31above the sector's middle half▲ 0.38
Return on assets (ROA)1.5%within the sector's middle half▲ 0.8pp-1.2%within the sector's middle half▼ 2.6pp-1.5%within the sector's middle half▼ 0.3pp2.0%within the sector's middle half▲ 3.5pp4.3%within the sector's middle half▲ 2.3pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 117% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €371,824
Equity
€259,323 ▲ 6.5%
Debt
€112,501 ▼ 10.4%
Debt's share of the balance-sheet total falls from 34.0% to 30.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€23,636▲
2023 · €11,755
Cash flow
€17,365▲
2023 · €8,816
Quick ratio
0.09▼
2023 · 0.13
Debt to equity
0.43▼
2023 · 0.52
ROE
6.1%▲
2023 · 3.0%
Interest coverage
32.07▲
2023 · 12.04
Debt ≤ 1 year
€112,501▼
2023 · €125,605
Income taxes
€6,005▲
2023 · €2,053
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 17,027 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,568 | €1,568 | €1,568 | €1,568 | €1,517 | ▼ 3.3% |
| Other operating charges640/8 | - | €1,679 | €1,026 | €1,110 | €1,149 | ▲ 3.6% |
| Gross operating margin9900 | €10,328 | €197 | -€1,594 | €12,865 | €24,785 | ▲ 92.7% |
| Operating profit (loss)9901 | €7,287 | -€3,049 | -€4,188 | €10,187 | €22,119 | ▲ 117% |
| Financial income75/76B | - | €96 | €173 | €90 | €471 | ▲ 423% |
| Recurring financial income75 | €212 | €96 | €173 | €90 | €471 | ▲ 423% |
| Financial charges65/66B | - | €893 | €770 | €976 | €737 | ▼ 24.5% |
| Recurring financial charges65 | €475 | €893 | €770 | €976 | €737 | ▼ 24.5% |
| Profit (loss) for the period before taxes9903 | €7,025 | -€3,846 | -€4,785 | €9,301 | €21,853 | ▲ 135% |
| Income taxes67/77 | €1,738 | €416 | €419 | €2,053 | €6,005 | ▲ 193% |
| Profit (loss) for the period9904 | €5,287 | -€4,263 | -€5,205 | €7,248 | €15,848 | ▲ 119% |
| Profit (loss) for the period to be appropriated9905 | €5,287 | -€4,263 | -€5,205 | €7,248 | €15,848 | ▲ 119% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €361,947 | €362,030 | €348,879 | €369,080 | €371,824 | ▲ 0.7% |
| Fixed assets21/28 | €6,220 | €4,652 | €3,084 | €1,517 | - | - |
| Tangible fixed assets22/27 | €6,220 | €4,652 | €3,084 | €1,517 | - | - |
| Furniture and vehicles24 | - | €4,652 | €3,084 | €1,517 | - | - |
| Current assets29/58 | €355,727 | €357,377 | €345,795 | €367,563 | €371,824 | ▲ 1.2% |
| Stocks and contracts in progress3 | €346,837 | €344,601 | €338,062 | €351,098 | €362,015 | ▲ 3.1% |
| Stocks30/36 | - | €344,601 | €338,062 | €351,098 | €362,015 | ▲ 3.1% |
| Amounts receivable within one year40/41 | €3,139 | €3,772 | €1,314 | €1,573 | €1,303 | ▼ 17.2% |
| Trade receivables40 | - | €50 | €169 | €1,008 | €1,303 | ▲ 29.2% |
| Other amounts receivable41 | - | €3,722 | €1,145 | €565 | - | - |
| Cash at bank and in hand54/58 | €3,134 | €7,000 | €4,247 | €12,545 | €6,091 | ▼ 51.4% |
| Deferred charges and accrued income490/1 | - | €2,005 | €2,172 | €2,347 | €2,415 | ▲ 2.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €361,947 | €362,030 | €348,879 | €369,080 | €371,824 | ▲ 0.7% |
| Equity10/15 | €245,694 | €241,431 | €236,227 | €243,475 | €259,323 | ▲ 6.5% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €138,193 | €138,193 | €138,193 | €138,193 | €138,193 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €136,333 | €136,333 | €136,333 | €136,333 | = |
| Profit (loss) carried forward14 | €88,901 | €84,638 | €79,433 | €86,682 | €102,530 | ▲ 18.3% |
| Amounts payable17/49 | €116,253 | €120,598 | €112,653 | €125,605 | €112,501 | ▼ 10.4% |
| Amounts payable within one year42/48 | €116,253 | €120,598 | €112,653 | €125,605 | €112,501 | ▼ 10.4% |
| Trade debts44 | €18,048 | €24,315 | €19,889 | €26,505 | €9,802 | ▼ 63.0% |
| Suppliers440/4 | - | €24,315 | €19,889 | €26,505 | €9,802 | ▼ 63.0% |
| Advances received on contracts in progress46 | - | - | - | €1,061 | €1,484 | ▲ 39.9% |
| Taxes, remuneration and social security45 | - | €2,154 | €2,659 | €5,371 | €10,108 | ▲ 88.2% |
| Taxes450/3 | - | €2,154 | €1,492 | €2,053 | €8,436 | ▲ 311% |
| Remuneration and social security454/9 | - | - | €1,167 | €3,318 | €1,672 | ▼ 49.6% |
| Other amounts payable47/48 | - | €94,129 | €90,105 | €92,667 | €91,107 | ▼ 1.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,287 | -€4,263 | -€5,205 | €7,248 | €15,848 | ▲ 119% |
| + Depreciation and write-downs630 | €1,568 | €1,568 | €1,568 | €1,568 | €1,517 | ▼ 3.3% |
| Operating cash flow (approximation) | €6,855 | -€2,695 | -€3,637 | €8,816 | €17,365 | ▲ 97.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | €3,866 | -€2,752 | €8,298 | -€6,454 | ▼ 178% |
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
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Highest result since 2018net €15,848 ▲119%
Operating result €22,119, net result €15,848, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Back to profitnet €7,248
Net result €7,248 after 2 loss-making years.
23-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 54 days late
2022
31-12
Financial
Weakest financial yearnet -€5,205
Net result drops to -€5,205, the lowest in the series; recovery starts the following year.
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 153 days late
2021
31-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 92 days late
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 108 days late
2019
15-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 137 days late
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 60 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Heist-op-den-Berg · 1 establishment unit since 1978
Ground area
557 m²
Building footprint
341 m²
Volume, LiDAR
1,493 m³
Parcel 12017A0201/00T004, Flanders · tallest building 22.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
DE CEUSTER BVBA
since 19782.014.669.907
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12017A0201/00T004 | Flanders | 557 m² | 1 · 340 m² | 22.4 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.
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Of 2,016 companies in sector 47770 we hold annual accounts for 899. 678 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)
Founded10-02-1978
Fiscal year end31-12
Activities, NACEBEL 2025
47770Retail sale of watches and jewellery
95250Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418047828
Also
9925:BE0418047828
Registered
18-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.