Summary
HOLDING CISPA is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.2m and a net result of €227,544. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 78% of 5585 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 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
3 d late
2024
21 d late
2023
26 d late
2022
34 d early
2021
8 d late
2020
13 d late
2019
21 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 2 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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. Usually files around 8 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€3.2m▲ 6.8%
2024 · €3.0m
Net result
€227,544▲ 740%
2024 · €27,073
Total assets
€3.9m▼ 3.4%
2024 · €4.0m
Solvency
82.3%▲ 7.8pp
2024 · 74.5%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Turnover
Operating result€58,362▲ 73.7%€95,729▲ 64.0%€94,597▼ 1.2%€94,349▼ 0.3%€93,416▼ 1.0%
Net result€406,858above the sector's middle half▲ 231%€375,975above the sector's middle half▼ 7.6%€412,266above the sector's middle half▲ 9.7%€27,073within the sector's middle half▼ 93.4%€227,544above the sector's middle half▲ 740%
Equity€3.7mabove the sector's middle half▲ 12.4%€3.8mabove the sector's middle half▲ 2.3%€3.3mabove the sector's middle half▼ 13.6%€3.0mabove the sector's middle half▼ 7.2%€3.2mabove the sector's middle half▲ 6.8%
Total assets€3.7mwithin the sector's middle half▲ 6.3%€3.8mwithin the sector's middle half▲ 2.2%€4.2mabove the sector's middle half▲ 10.1%€4.0mwithin the sector's middle half▼ 3.6%€3.9mwithin the sector's middle half▼ 3.4%
Debt€57,322▼ 76.3%€52,659▼ 8.1%€949,807▲ 1,704%€1.0m▲ 8.6%€690,722▼ 33.0%
Working capital€288,908within the sector's middle half▲ 174%€370,876above the sector's middle half▲ 28.4%€754,208above the sector's middle half▲ 103%€588,803above the sector's middle half▼ 21.9%€493,512above the sector's middle half▼ 16.2%
Solvency98.5%above the sector's middle half▲ 5.4pp98.6%above the sector's middle half▲ 0.2pp77.4%within the sector's middle half▼ 21.2pp74.5%within the sector's middle half▼ 2.9pp82.3%above the sector's middle half▲ 7.8pp
Current ratio6.68above the sector's middle half▼ 3.018.44above the sector's middle half▲ 1.7715.29above the sector's middle half▲ 6.8410.07above the sector's middle half▼ 5.2221.47above the sector's middle half▲ 11.40
Return on assets (ROA)10.9%within the sector's middle half▲ 7.4pp9.9%within the sector's middle half▼ 1.0pp9.8%within the sector's middle half=0.7%within the sector's middle half▼ 9.1pp5.8%within the sector's middle half▲ 5.1pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Net result +231% on 2020. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 1% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.9m
Fixed assets
€3.4m =
Current assets
€517,623 ▼ 20.8%
Equity and liabilities €3.9m
Equity
€3.2m ▲ 6.8%
Debt
€690,722 ▼ 33.0%
Debt's share of the balance-sheet total falls from 25.5% to 17.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
7.1%▲
2024 · 0.9%
Debt ≤ 1 year
€24,111▼
2024 · €64,916
Debt > 1 year
€666,611▼
2024 · €966,217
Income taxes
€7,384▼
2024 · €10,025
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €1,163 | €1,066 | €1,177 | €1,193 | €1,230 | ▲ 3.1% |
| Gross operating margin9900 | €59,525 | €96,795 | €95,773 | €95,543 | €94,646 | ▼ 0.9% |
| Operating profit (loss)9901 | €58,362 | €95,729 | €94,597 | €94,349 | €93,416 | ▼ 1.0% |
| Financial income75/76B | €401,473 | €299,775 | €399,700 | €1,745 | €201,076 | ▲ 11,423% |
| Recurring financial income75 | €401,473 | €299,775 | €399,700 | €1,745 | €201,076 | ▲ 11,423% |
| Financial charges65/66B | €330 | €249 | €27,381 | €58,997 | €59,564 | ▲ 1.0% |
| Recurring financial charges65 | €330 | €249 | €27,381 | €58,997 | €59,564 | ▲ 1.0% |
| Profit (loss) for the period before taxes9903 | €459,505 | €395,255 | €466,915 | €37,098 | €234,928 | ▲ 533% |
| Income taxes67/77 | €52,647 | €19,280 | €54,650 | €10,025 | €7,384 | ▼ 26.3% |
| Profit (loss) for the period9904 | €406,858 | €375,975 | €412,266 | €27,073 | €227,544 | ▲ 740% |
| Profit (loss) for the period to be appropriated9905 | €406,858 | €375,975 | €412,266 | €27,073 | €227,544 | ▲ 740% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.7m | €3.8m | €4.2m | €4.0m | €3.9m | ▼ 3.4% |
| Fixed assets21/28 | €3.4m | €3.4m | €3.4m | €3.4m | €3.4m | = |
| Financial fixed assets28 | €3.4m | €3.4m | €3.4m | €3.4m | €3.4m | = |
| Current assets29/58 | €339,797 | €420,692 | €806,989 | €653,719 | €517,623 | ▼ 20.8% |
| Amounts receivable within one year40/41 | €8,062 | €67,940 | €357,631 | €140,736 | €215,377 | ▲ 53.0% |
| Trade receivables40 | - | - | - | - | €265 | - |
| Other amounts receivable41 | €8,062 | €67,940 | €357,631 | €140,736 | €215,112 | ▲ 52.8% |
| Current investments50/53 | €59,890 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Cash at bank and in hand54/58 | €271,845 | €102,155 | €198,763 | €262,388 | €52,245 | ▼ 80.1% |
| Deferred charges and accrued income490/1 | - | €597 | €596 | €595 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.7m | €3.8m | €4.2m | €4.0m | €3.9m | ▼ 3.4% |
| Equity10/15 | €3.7m | €3.8m | €3.3m | €3.0m | €3.2m | ▲ 6.8% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €3.6m | €3.6m | €3.1m | €2.9m | €3.0m | ▲ 6.2% |
| Distributable reserves133 | €3.6m | €3.6m | €3.1m | €2.9m | €3.0m | ▲ 6.2% |
| Profit (loss) carried forward14 | €6,319 | €47,294 | €47,294 | €47,294 | €74,839 | ▲ 58.2% |
| Amounts payable17/49 | €57,322 | €52,659 | €949,807 | €1.0m | €690,722 | ▼ 33.0% |
| Amounts payable after more than one year17 | €6,433 | €2,843 | €897,026 | €966,217 | €666,611 | ▼ 31.0% |
| Other amounts payable178/9 | €6,433 | €2,843 | €897,026 | €966,217 | €666,611 | ▼ 31.0% |
| Amounts payable within one year42/48 | €50,889 | €49,816 | €52,782 | €64,916 | €24,111 | ▼ 62.9% |
| Trade debts44 | €35 | €29 | €9 | €51 | €274 | ▲ 437% |
| Suppliers440/4 | €35 | €29 | €9 | €51 | €274 | ▲ 437% |
| Taxes, remuneration and social security45 | €50,854 | €49,788 | €52,773 | €64,865 | €23,837 | ▼ 63.3% |
| Taxes450/3 | €50,854 | €49,788 | €52,773 | €64,865 | €23,837 | ▼ 63.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €406,858 | €375,975 | €412,266 | €27,073 | €227,544 | ▲ 740% |
| Operating cash flow (approximation) | €406,858 | €375,975 | €412,266 | €27,073 | €227,544 | ▲ 740% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€169,690 | €96,608 | €63,625 | -€210,143 | ▼ 430% |
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
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 3 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 21.47
Current ratio from 10.07 to 21.47; short-term debt falls from €64,916 to €24,111.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 21 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 26 days late
2023
31-12
Financial
Highest result since 2018net €412,266 ▲9.7%
Net result €412,266, the highest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 8 days late
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
2020
31-12
Financial
Liquidity times 24current ratio 9.69
Current ratio from 0.40 to 9.69; short-term debt falls from €410,236 to €12,121.
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €23,230 ▼91.1%
Net result drops to €23,230, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gent · 1 establishment unit since 2010
Ground area
256 m²
Building footprint
256 m²
Volume, LiDAR
1,593 m³
Parcel 44038A0757/00Z000, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Brugsesteenweg 583, 9030 Gent
since 20102.195.382.786
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44038A0757/00Z000 | Flanders | 256 m² | 1 · 256 m² | 10.2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
99.93%
According to the 2025 annual accounts of HOLDING CISPA and those 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.
Recognitions · licences · registrations
Legal Entity Identifier
984500C8D8E65B2D5406
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 9,510 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
Founded14-12-2010
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0831867347
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.