GROUP CAUS
ActiveSummary
GROUP CAUS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €870,713 and a net result of €96,401. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 65% of 81 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▼-25
Solvency78▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity ample (current ratio 2.15 against 2.23 in 2024; short-term debt: 40.1% and cash: 12.3% of total assets), and 47.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 50
Relative position
BE, all sectors
reference
Water transport (NACE 50)
about 39% 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
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
52.8%
Return on assets
5.8%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-12-2025, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
32 d early
2023
2 d early
2022
1 d early
2021
56 d early
2020
44 d early
2019
16 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 28 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 41% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 30 December (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 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 Is the workforce growing, and do people stay?Employer check 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 What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 company by equity in West Flanders, Water transport sector
Equity
€870,713=
2024 · €870,713
Total assets
€1.7m▲ 2.1%
2024 · €1.6m
Net result
€96,401▼ 27.3%
2024 · €132,537
Working capital
€762,195▲ 2.0%
2024 · €747,066
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 50, Water transport, 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€533,045▲ 14.8%€194,929▼ 63.4%€163,628▼ 16.1%€176,012▲ 7.6%€187,934▲ 6.8%
Net result€412,640above the sector's middle half▼ 5.9%€129,006within the sector's middle half▼ 68.7%€115,392within the sector's middle half▼ 10.6%€132,537within the sector's middle half▲ 14.9%€96,401within the sector's middle half▼ 27.3%
Equity€870,713within the sector's middle half▲ 44.4%€870,713within the sector's middle half=€870,713within the sector's middle half=€870,713within the sector's middle half=€870,713within the sector's middle half=
Total assets€1.7mwithin the sector's middle half▼ 0.1%€1.6mwithin the sector's middle half▼ 1.8%€1.9mwithin the sector's middle half▲ 19.2%€1.6mwithin the sector's middle half▼ 17.0%€1.7mwithin the sector's middle half▲ 2.1%
Debt€791,969▼ 25.4%€762,804▼ 3.7%€1.1m▲ 41.1%€746,368▼ 30.7%€779,747▲ 4.5%
Working capital€794,970above the sector's middle half▲ 56.5%€745,964within the sector's middle half▼ 6.2%€742,997within the sector's middle half▼ 0.4%€747,066within the sector's middle half▲ 0.5%€762,195within the sector's middle half▲ 2.0%
Solvency52.4%within the sector's middle half▲ 16.1pp53.3%within the sector's middle half▲ 0.9pp44.7%within the sector's middle half▼ 8.6pp53.8%within the sector's middle half▲ 9.1pp52.8%within the sector's middle half▼ 1.1pp
Current ratio2.38within the sector's middle half▲ 0.782.30within the sector's middle half▼ 0.081.81within the sector's middle half▼ 0.492.23within the sector's middle half▲ 0.412.15within the sector's middle half▼ 0.08
Return on assets (ROA)24.8%above the sector's middle half▼ 1.5pp7.9%within the sector's middle half▼ 16.9pp5.9%within the sector's middle half▼ 2.0pp8.2%within the sector's middle half▲ 2.3pp5.8%within the sector's middle half▼ 2.4pp
Staff (FTE)30above the sector's middle half▼ 7.7%30.3above the sector's middle half▲ 1.0%31.2above the sector's middle half▲ 3.0%29.3above the sector's middle half▼ 6.1%30.7above the sector's middle half▲ 4.8%
above
within
below
the middle half (P25 to P75) of NACE 50, Water transport, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 7% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€226,080 ▼ 13.4%
Current assets
€1.4m ▲ 5.0%
Equity and liabilities €1.7m
Equity
€870,713 =
Debt
€779,747 ▲ 4.5%
Debt's share of the balance-sheet total rises from 46.2% to 47.2%. Debt is higher.
Key figures and ratios
EBITDA
€224,730▲
2024 · €214,731
Cash flow
€133,197▼
2024 · €171,256
Debt to equity
0.90▲
2024 · 0.86
ROE
11.1%▼
2024 · 15.2%
Interest coverage
3.32▼
2024 · 19.62
Debt ≤ 1 year
€662,185▲
2024 · €608,913
Debt > 1 year
€115,554▼
2024 · €137,455
Income taxes
€36,987▼
2024 · €48,682
Staff costs
€1.4m▲
2024 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
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 497,662 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 20,129 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1.2m | €1.4m | €1.3m | €1.4m | ▲ 6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,378 | €36,196 | €37,059 | €38,719 | €36,796 | ▼ 5.0% |
| Other operating charges640/8 | - | €53,223 | €12,138 | €2,860 | €75,798 | ▲ 2,550% |
| Non-recurring operating charges66A | - | €5,563 | €0 | - | - | - |
| Gross operating margin9900 | €1.8m | €1.5m | €1.6m | €1.5m | €1.7m | ▲ 10.8% |
| Operating profit (loss)9901 | €533,045 | €194,929 | €163,628 | €176,012 | €187,934 | ▲ 6.8% |
| Financial income75/76B | - | €2,800 | €11,151 | €16,150 | €13,061 | ▼ 19.1% |
| Recurring financial income75 | €4,823 | €2,800 | €11,151 | €16,150 | €13,061 | ▼ 19.1% |
| Financial charges65/66B | - | €22,185 | €20,715 | €10,943 | €67,607 | ▲ 518% |
| Recurring financial charges65 | €25,144 | €22,185 | €20,715 | €10,943 | €67,607 | ▲ 518% |
| Profit (loss) for the period before taxes9903 | €512,723 | €175,544 | €154,064 | €181,219 | €133,388 | ▼ 26.4% |
| Income taxes67/77 | €100,083 | €46,538 | €38,672 | €48,682 | €36,987 | ▼ 24.0% |
| Profit (loss) for the period9904 | €412,640 | €129,006 | €115,392 | €132,537 | €96,401 | ▼ 27.3% |
| Profit (loss) for the period to be appropriated9905 | €412,640 | €129,006 | €115,392 | €132,537 | €96,401 | ▼ 27.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.6m | €1.9m | €1.6m | €1.7m | ▲ 2.1% |
| Fixed assets21/28 | €293,511 | €315,254 | €291,731 | €261,102 | €226,080 | ▼ 13.4% |
| Tangible fixed assets22/27 | €293,511 | €315,254 | €291,731 | €261,102 | €226,080 | ▼ 13.4% |
| Land and buildings22 | - | €141,431 | €133,705 | €125,980 | €118,254 | ▼ 6.1% |
| Plant, machinery and equipment23 | - | €145,891 | €139,107 | €124,850 | €105,608 | ▼ 15.4% |
| Furniture and vehicles24 | - | €27,932 | €18,918 | €10,272 | €2,218 | ▼ 78.4% |
| Current assets29/58 | €1.4m | €1.3m | €1.7m | €1.4m | €1.4m | ▲ 5.0% |
| Amounts receivable within one year40/41 | €398,184 | €674,041 | €1.2m | €1.1m | €1.2m | ▲ 9.3% |
| Trade receivables40 | - | €229,081 | €423,355 | €636,518 | €546,213 | ▼ 14.2% |
| Other amounts receivable41 | - | €444,960 | €780,953 | €456,457 | €648,863 | ▲ 42.2% |
| Cash at bank and in hand54/58 | €939,119 | €622,443 | €429,524 | €239,892 | €202,384 | ▼ 15.6% |
| Deferred charges and accrued income490/1 | - | €21,780 | €21,797 | €23,112 | €26,920 | ▲ 16.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.6m | €1.9m | €1.6m | €1.7m | ▲ 2.1% |
| Equity10/15 | €870,713 | €870,713 | €870,713 | €870,713 | €870,713 | = |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €852,113 | €852,113 | €852,113 | €852,113 | €852,113 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | - | €364,000 | €364,000 | €364,000 | €364,000 | = |
| Distributable reserves133 | - | €486,253 | €486,253 | €488,113 | €488,113 | = |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €791,969 | €762,804 | €1.1m | €746,368 | €779,747 | ▲ 4.5% |
| Amounts payable after more than one year17 | €216,928 | €190,505 | €164,014 | €137,455 | €115,554 | ▼ 15.9% |
| Financial debts170/4 | - | €190,505 | €164,014 | €137,455 | €115,554 | ▼ 15.9% |
| Amounts payable within one year42/48 | €574,201 | €572,300 | €912,633 | €608,913 | €662,185 | ▲ 8.7% |
| Current portion of amounts payable after more than one year42 | - | €26,423 | €26,491 | €26,559 | €21,901 | ▼ 17.5% |
| Financial debts43 | - | - | - | - | €150,000 | - |
| Credit institutions430/8 | - | - | - | - | €150,000 | - |
| Trade debts44 | €251,304 | €284,745 | €475,871 | €306,495 | €270,947 | ▼ 11.6% |
| Suppliers440/4 | - | €284,745 | €475,871 | €306,495 | €270,947 | ▼ 11.6% |
| Taxes, remuneration and social security45 | - | €132,126 | €294,879 | €143,322 | €122,937 | ▼ 14.2% |
| Taxes450/3 | - | €47,196 | €27,477 | €3,582 | €5,151 | ▲ 43.8% |
| Remuneration and social security454/9 | - | €84,930 | €267,402 | €139,740 | €117,787 | ▼ 15.7% |
| Other amounts payable47/48 | - | €129,006 | €115,392 | €132,537 | €96,401 | ▼ 27.3% |
| Accrued charges and deferred income492/3 | - | €0 | - | - | €2,008 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €412,640 | €129,006 | €115,392 | €132,537 | €96,401 | ▼ 27.3% |
| + Depreciation and write-downs630 | €38,378 | €36,196 | €37,059 | €38,719 | €36,796 | ▼ 5.0% |
| Operating cash flow (approximation) | €451,018 | €165,202 | €152,451 | €171,256 | €133,197 | ▼ 22.2% |
| Investment in fixed assets (approximation) | - | -€57,938 | -€13,536 | -€8,090 | -€1,774 | ▲ 78.1% |
| Change in cash | - | -€316,676 | -€192,919 | -€189,632 | -€37,507 | ▲ 80.2% |
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
16-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
30-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
06-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
18-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
30-06
Financial
Highest result since 2019net €438,552 ▲2,469%
Net result €438,552, the highest in the series.
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
21-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 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, Brugge · 1 establishment unit since 2002
Ground area
1,014 m²
Building footprint
525 m²
Volume, LiDAR
4,223 m³
Parcel 31016D0710/00V003, Flanders · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
AMBUTRA
since 20022.114.437.177
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31016D0710/00V003 | Flanders | 1,013 m² | 1 · 525 m² | 9.8 m · 3 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.
Structure & network
Owners and holdings
1 ownerChain of control
- GT NEW HARBOUR
- GROUP CAUS
Highest known parent: GT NEW HARBOUR. The sources do not say who stands above it.
Owners 1
- GT NEW HARBOURparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,073 EUR awarded · 873 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 252 EUR | 207 EUR |
| 2024 | 1 | 290 EUR | 467 EUR |
| 2023 | 1 | 531 EUR | 199 EUR |
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Of 96 companies in sector 50100 we hold annual accounts for 38. 19 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
Founded05-09-2002
Fiscal year end30-06
Activities, NACEBEL 2025
49320Non-scheduled passenger transport by road
49330On-demand passenger transport by chauffeured vehicle
50100Water transport
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478266913
Also
9925:BE0478266913
Registered
16-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.