CERDO
ActiveSummary
CERDO has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €590k and a net result of €13k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 35% of 7777 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+1
Solvency57▼-9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity tight (current ratio 1.14 against 1.54 in 2024; short-term debt: 42.4% and cash: 0.5% of total assets), and 68.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
31.9%
Return on assets
0.7%
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 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
on the day
2023
on the day
2022
on the day
2021
3 d early
2020
1 d late
2019
16 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€590k▼ 19.4%
2024 · €732k
2019: €510k
2020: €526k
2021: €618k
2022: €631k
2023: €731k
2024: €732k
2019 → 2025
Total assets
€1.85M▲ 3.8%
2024 · €1.78M
2019: €1.33M
2020: €1.37M
2021: €1.45M
2022: €1.51M
2023: €1.97M
2024: €1.78M
2019 → 2025
Net result
€13k▲ 1,116%
2024 · €1k
2019: €20k
2020: €17k
2021: €92k
2022: €73k
2023: €99k
2024: €1k
2019 → 2025
Working capital
€108k▼ 64.1%
2024 · €301k
2019: €304k
2020: €278k
2021: €375k
2022: €265k
2023: €211k
2024: €301k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€618k-€631k▲ 2.1%€731k▲ 15.8%€732k▲ 0.1%€590k▼ 19.4%
Operating result€150k-€96k▼ 35.9%€127k▲ 32.5%€62k▼ 51.5%€46k▼ 25.9%
Net result€92k-€73k▼ 20.6%€99k▲ 36.3%€1k▼ 98.9%€13k▲ 1,116%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 26% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.85M
Fixed assets
€957k ▲ 3.6%
Current assets
€893k ▲ 4.0%
Equity and liabilities €1.85M
Equity
€590k ▼ 19.4%
Debt
€1.26M ▲ 19.9%
Debt's share of the balance-sheet total rises from 59.0% to 68.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€177k▲
2024 · €174k
Cash flow
€145k▲
2024 · €114k
Current ratio
1.14▼
2024 · 1.54
Quick ratio
1.00▼
2024 · 1.36
Debt to equity
2.14▲
2024 · 1.44
ROE
2.2%▲
2024 · 0.1%
ROA
0.7%▲
2024 · 0.1%
Interest coverage
7.39▼
2024 · 7.54
Debt ≤ 1 year
€785k▲
2024 · €558k
Debt > 1 year
€474k▼
2024 · €493k
Income taxes
€9k▼
2024 · €38k
Staff costs
€112k▲
2024 · €56k
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 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.78M€1.85M▲
Fixed assets21/28€924k€957k▲
Intangible fixed assets21€2k€1k▼
Tangible fixed assets22/27€921k€955k▲
Land and buildings22€30k€44k▲
Plant, machinery and equipment23€44k€93k▲
Furniture and vehicles24€427k€431k▲
Other tangible fixed assets26€419k€386k▼
Assets under construction and advance payments27€500€500=
Financial fixed assets28€1k€1k=
Current assets29/58€859k€893k▲
Stocks and contracts in progress3€101k€108k▲
Stocks30/36€101k€108k▲
Amounts receivable within one year40/41€743k€764k▲
Trade receivables40€529k€538k▲
Other amounts receivable41€214k€226k▲
Cash at bank and in hand54/58€4k€9k▲
Deferred charges and accrued income490/1€11k€11k▲
Equity and liabilities
Total equity and liabilities10/49€1.78M€1.85M▲
Equity10/15€732k€590k▼
Contributions10/11€6k€6k=
Reserves13€725k€584k▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€725k€584k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€1.05M€1.26M▲
Amounts payable after more than one year17€493k€474k▼
Financial debts170/4€493k€474k▼
Amounts payable within one year42/48€558k€785k▲
Current portion of amounts payable after more than one year42€140k€139k▼
Financial debts43€12k€9k▼
Credit institutions430/8€12k€9k▼
Trade debts44€378k€345k▼
Suppliers440/4€378k€345k▼
Advances received on contracts in progress46-€60k
Taxes, remuneration and social security45€25k€18k▼
Taxes450/3€18k€12k▼
Remuneration and social security454/9€7k€7k▼
Other amounts payable47/48€3k€213k▲
Accrued charges and deferred income492/3€0€2k▲
Income statement
Code20242025
Non-recurring operating income76A-€15k
Remuneration, social security and pensions62€56k€112k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€113k€131k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€51k
Other operating charges640/8€8k€9k▲
Non-recurring operating charges66A€50k€0▼
Gross operating margin9900€289k€350k▲
Operating profit (loss)9901€62k€46k▼
Financial income75/76B€295€491▲
Recurring financial income75€295€491▲
Financial charges65/66B€23k€24k▲
Recurring financial charges65€23k€24k▲
Profit (loss) for the period before taxes9903€39k€22k▼
Income taxes67/77€38k€9k▼
Profit (loss) for the period9904€1k€13k▲
Profit (loss) for the period to be appropriated9905€1k€13k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1k€13k▲
Transfer from equity791/2-€155k
Transfer to equity691/2€1k€13k▲
To other reserves6921€1k€13k▲
Profit to be distributed694/7-€155k
Return on contributions (dividend)694-€155k
Social balance
Average headcount (FTE)90871.01.7▲
The notes to these accounts (30 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
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Weakest financial yearnet €1k ▼98.9%
Net result drops to €1k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €99k ▲36.3%
Net result €99k, the highest in the series.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 1 day late
2020
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
16-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-01
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 2 acts read
About the unread acts
We know of 2 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
2 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, Torhout · 1 establishment unit since 1993
Ground area
1.2 ha
Building footprint
131 m²
Volume, LiDAR
748 m³
Parcel 31523H0679/00X000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
C E R D O
since 19932.063.315.011
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31523H0679/00X000 | Flanders | 1.2 ha | 1 · 131 m² | 7.3 m · 2 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 · 432 EUR awarded · 432 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 198 EUR | 198 EUR |
| 2022 | 1 | 234 EUR | 234 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteTorhout2.063.315.011
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Of 4,271 companies in sector 43230 we hold annual accounts for 1,240. 690 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 formPrivate limited company
Founded30-07-1993
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
43230Insulation installation
01461Pig breeding farms
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.