CATHIE ASSOCIATES
ActiveSummary
CATHIE ASSOCIATES has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.08M and a net result of €222k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 38% of 728 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▼-11
Solvency58▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity tight (current ratio 1.46 against 1.43 in 2024; short-term debt: 67.2% and cash: 0% of total assets), and 67.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 71
Relative position
BE, all sectors
reference
Sector 71
lower
← 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
32.8%
Return on assets
6.8%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.08M
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
77 d late
2023
64 d late
2022
8 d late
2021
40 d late
2020
87 d late
2019
60 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€222k▼ 46.4%
2024 · €414k
2018: €26k
2019: €72k
2020: €-239k
2021: €49k
2022: €276k
2023: €215k
2024: €414k
2018 → 2025
Working capital
€1.02M▲ 29.0%
2024 · €789k
2018: €322k
2019: €418k
2020: €315k
2021: €345k
2022: €181k
2023: €379k
2024: €789k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-51k-€225k€439k▲ 95.5%€854k▲ 94.3%€1.08M▲ 26.0%
Operating result€43k-€303k▲ 602%€317k▲ 4.5%€554k▲ 75.1%€330k▼ 40.5%
Net result€49k-€276k▲ 461%€215k▼ 22.1%€414k▲ 93.1%€222k▼ 46.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 41% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.28M
Fixed assets
€58k ▼ 9.9%
Current assets
€3.22M ▲ 22.8%
Equity and liabilities €3.28M
Equity
€1.08M ▲ 26.0%
Debt
€2.20M ▲ 20.2%
Debt's share of the balance-sheet total falls from 68.2% to 67.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€344k▼
2024 · €564k
Cash flow
€237k▼
2024 · €424k
Current ratio
1.46▲
2024 · 1.43
Quick ratio
1.11▼
2024 · 1.11
Debt to equity
2.05▼
2024 · 2.15
ROE
20.6%▼
2024 · 48.5%
ROA
6.8%▼
2024 · 15.4%
Interest coverage
13.07▼
2024 · 21.24
Debt ≤ 1 year
€2.20M▲
2024 · €1.83M
Income taxes
€103k▼
2024 · €166k
Staff costs
€1.53M▼
2024 · €1.64M
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.69M€3.28M▲
Fixed assets21/28€65k€58k▼
Tangible fixed assets22/27€38k€52k▲
Furniture and vehicles24€38k€52k▲
Financial fixed assets28€27k€7k▼
Current assets29/58€2.62M€3.22M▲
Stocks and contracts in progress3€583k€782k▲
Contracts in progress37€583k€782k▲
Amounts receivable within one year40/41€2.00M€2.40M▲
Trade receivables40€1.35M€2.40M▲
Other amounts receivable41€653k-
Cash at bank and in hand54/58€29€16▼
Deferred charges and accrued income490/1€41k€43k▲
Equity and liabilities
Total equity and liabilities10/49€2.69M€3.28M▲
Equity10/15€854k€1.08M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€34k€34k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€10k€10k=
Distributable reserves133€18k€18k=
Profit (loss) carried forward14€757k€979k▲
Amounts payable17/49€1.83M€2.20M▲
Amounts payable within one year42/48€1.83M€2.20M▲
Trade debts44€1.43M€1.00M▼
Suppliers440/4€1.43M€1.00M▼
Taxes, remuneration and social security45€407k€576k▲
Taxes450/3€147k€252k▲
Remuneration and social security454/9€259k€324k▲
Other amounts payable47/48-€626k
Income statement
Code20242025
Remuneration, social security and pensions62€1.64M€1.53M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€15k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€187€57k▲
Other operating charges640/8€12k€9k▼
Gross operating margin9900€2.22M€1.95M▼
Operating profit (loss)9901€554k€330k▼
Financial income75/76B€52k€21k▼
Recurring financial income75€52k€21k▼
Financial charges65/66B€27k€26k▼
Recurring financial charges65€27k€26k▼
Profit (loss) for the period before taxes9903€580k€325k▼
Income taxes67/77€166k€103k▼
Profit (loss) for the period9904€414k€222k▼
Profit (loss) for the period to be appropriated9905€414k€222k▼
Appropriation of the result
Profit (loss) to be appropriated9906€757k€979k▲
Profit (loss) brought forward from the previous period14P€343k€757k▲
Social balance
Average headcount (FTE)908711.010.3▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €1MEq €1.08M ▲26%
5 profitable years in a row build equity to €1.08M.
16-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 77 days late
2024
31-12
Financial
Highest result since 2018net €414k ▲93.1%
Operating result €554k, net result €414k, both a record.
31-12
Financial
Equity above €500kEq €854k ▲94.3%
4 profitable years in a row build equity to €854k.
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 64 days late
2023
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 8 days late
2022
31-12
Financial
Equity above €200kEq €225k
2 profitable years in a row build equity to €225k.
09-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 40 days late
2021
31-12
Financial
Back to profitnet €49k
Net result €49k after one loss-making year.
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 87 days late
2020
31-12
Financial
Weakest financial yearnet €-239k ▼433%
Net result drops to €-239k, the lowest in the series; recovery starts the following year.
Show earlier events
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 60 days late
2019
31-12
Financial
Equity above €100kEq €139k ▲107%
2 profitable years in a row build equity to €139k.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
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.
Directors · office · real estate
Directors
18 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, Machelen (Brab.) · 1 establishment unit since 2005
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Jan Mommaertslaan 221831 Machelen (Brab.)Ground area
1.5 ha
Building footprint
1,365 m²
Volume, LiDAR
15,633 m³
Parcel 23015B0161/00D006, Flanders · tallest building 20.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CATHIE ASSOCIATES
since 20052.144.891.516
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23015B0161/00D006 | Flanders | 1.5 ha | 1 · 1,365 m² | 20.2 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 to 2023 · 2 entries · 2,045 EUR awarded · 2,045 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 980 EUR | 980 EUR |
| 2022 | 1 | 1,065 EUR | 1,065 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
European research
2 projects · 73,008 EUR EU contributionProgrammes
Seventh Framework Programme
Horizon Europe
Projects
Geotechnical design solutions for the offshore renewable wave energy industry
Improve offshore infrastructure resilience against geohazards towards a changing climate
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Of 11,550 companies in sector 71121 we hold annual accounts for 6,563. 3,315 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded21-01-2005
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
5 entriesWebsite:www.cathie-associates.com
Phone:+32 2 712 95 30
Fax:+32 2 712 95 31
Phone:02/712 95 38
Fax:02/712 95 30