Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of Cennox Managed Services is 0.5% (very low). The 2024 annual accounts show equity of €2.59M and a net result of €-555k. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 36% of 295 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 4 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.5%
Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Young company
+Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Trust signals
2 signalsMore than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
Turnover€22.80M+15.9%
EBIT margin-1.8%-4.0pp
Net result€-555k
Working capital€-714k
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 23-09-2025 with the NBB · fiscal year 2024 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~3.2%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 62, Computer programming & consultancy · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 23.2% | 43.1% | |
| Net result | €-555k | €28k | |
| Equity | €2.59M | €79k | |
| Staff costs | €9.27M | €400k | |
| Employees (FTE) | 141.7 | 5.9 |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P36
Stable position over 2021-2024
· n=149-295
P5
Weakening position over 2021-2024
· n=149-295
P89
Stable position over 2021-2024
· n=149-295
P90
Stable position over 2021-2024
· n=73-147
Describes the position versus peers, not a forecast.
€22.80M
+15.9%
21-24
€-292k
-
far below sector median
€-555k
-
far below sector median
€-434k
-
far below sector median
€11.16M
+13.2%
far above sector median
€2.59M
-17.6%
far above sector median
€-714k
-
far below sector median
142
+3.6%
far above sector median
€9.27M
+3.4%
far above sector median
€52k
-81.3%
far above sector median
€8.56M
+28.0%
far above sector median
€8.49M
+31.6%
far above sector median
0.92
-22.2%
-54% vs sector
0.90
-21.7%
-45% vs sector
23.2%
-27.2%
-53% vs sector
3.30
+55.3%
+225% vs sector
-21.4%
-
far below sector median
-5.0%
-
far below sector median
-2.4%
-
21-24
-1.3%
-
21-24
-2.18
-
far below sector median
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Revenue | €22.80M |
| EBITDA | €-292k |
| Net profit | €-555k |
| Cash flow | €-434k |
| Staff costs | €9.27M |
| Income taxes | €52k |
| Dividends | - |
| Total assets | €11.16M |
| Equity | €2.59M |
| Debt | €8.56M |
| of which ≤ 1y | €8.49M |
| of which > 1y | - |
| Working capital | €-714k |
| Employees (FTE) | 141.7 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.92 |
| Quick ratio | 0.90 |
| Working capital ratio | -6.4% |
| Solvency | 23.2% |
| Debt / equity | 3.30 |
| Long-term debt ratio | - |
| Interest coverage | -2.18 |
| Gross margin | 59.9% |
| Net margin | -2.4% |
| ROA | -5.0% |
| ROE | -21.4% |
| EBITDA margin | -1.3% |
| Days sales outstanding | 103d |
| Days payable outstanding | 210d |
| Inventory turnover | 53.85 |
| Days inventory (DSI) | 7d |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €11.16M |
| Fixed assets | 21/28 | €3.38M |
| Intangible fixed assets | 21 | €693k |
| Tangible fixed assets | 22/27 | €106k |
| Financial fixed assets | 28 | €2.59M |
| Current assets | 29/58 | €7.77M |
| Stocks & contracts in progress | 3 | €170k |
| Amounts receivable within one year | 40/41 | €7.13M |
| Cash & bank | 54/58 | €268k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €11.16M |
| Equity | 10/15 | €2.59M |
| Contributions / capital | 10/11 | €2.36M |
| Accumulated profits (losses) | 14 | €238k |
| Amounts payable | 17/49 | €8.56M |
| Amounts payable within one year | 42/48 | €8.49M |
| Trade debts payable within one year | 44 | €5.27M |
| Income statement | ||
| Turnover | 70 | €22.80M |
| Operating result | 9901 | €-412k |
| Financial income | 75 | €43k |
| Financial charges | 65 | €134k |
| Result before taxes | 9903 | €-503k |
| Income taxes | 67/77 | €52k |
| Net result for the period | 9904 | €-555k |
| Result to be appropriated | 9905 | €-555k |
You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed0
/ 100
Critical
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
5 directorsCurrent directors & mandates
-
Current02-07-2025 → present
-
Current02-07-2025 → present
-
Current02-06-2021 → present
Former directors (2)
-
Former02-06-2021 → 01-12-2023
2 events
- 01-12-2023 Resigned· Director
- 02-06-2021 Appointed· Director
-
Former- → 01-01-2023
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
1 auditor| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| CV RSM InterAuditCurrent Statutory auditor · represented by Karine Morris |
- | 01-02-2021 → present |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten(62200) |
| Legal form | Private limited company(610) |
| Incorporation | 03-12-2020 |
| Status | Active |
| Postal code | 1800 |
Structure & network
Connections & network
3 connected companiesNetwork connections
Shared address
→
Shared address
→
Shared address
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
1 locationRadiatorenstraat 41, 1800 Vilvoorde
since 20202.311.524.054
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area6,812 m²
Buildings1
Building footprint6,288 m²
Volume (LiDAR)56,607 m³
Tallest building13.1 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23643E0099/00F002 | Flanders | 6,812 m² | 1 · 6,288 m² | 13.1 m · 3 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
9 acts Address history · 1
23-09-2021
v3.2
All acts · 9
updated 6 months ago
2026
30-01-2026 2 directors appointed
2024
02-05-2024 Karine Morris reappointed as statutory auditor
22-03-2024 Jeroen Wagemans resigns as director
2023
17-08-2023 Chetan Patil resigns as director
2021
24-12-2021 Articles of association amended
Summary:
v3.2
23-09-2021 Registered office moved from Groot-Bijgaarden to Vilvoorde
- Stationsstraat 30, 1702 Groot-Bijgaarden → Radiatorenstraat 41, 1800 Vilvoorde
Summary:
v3.2
18-06-2021 2 directors appointed
- DE PREST Frederiek Patrick Andy, Bestuurder
- WAGEMANS Jeroen, Bestuurder
Summary:
v3.2
01-02-2021 Karine Morris appointed as statutory auditor
2020
07-12-2020 Incorporation of a new BV
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes37
/ 100
Fragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Health
0
Profitability
4
Solvency
31
Growth
57
Stability
94
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Computerconsultancy-activiteiten62020Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten62200Elektrotechnische installatiewerken aan gebouwen43211Algemene elektrotechnische installatiewerken43211Detailhandel in ICT-apparatuur47400Detailhandel in computers, randapparatuur en software in gespecialiseerde winkels47410Callcenters82200Activiteiten van callcenters82200Reparatie en onderhoud van computers en communicatieapparatuur95100Reparatie van computers en randapparatuur95110
Primary activity highlighted.
Names & trade names
| Legal nameNL | Cennox Managed Services |
Registered office
Radiatorenstraat 41
1800 Vilvoorde, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.