CERTIFER BELGORAIL
The computed 12-month bankruptcy probability of CERTIFER BELGORAIL is 0.2% (very low). The 2025 annual accounts show equity of €10.26M and a net result of €1.92M. Equity is growing by ~19.2% per year across the filed fiscal years. Its solvency ranks better than 75% of 56 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €10.26M |
| Net result | €1.92M |
| Staff (FTE) | 29.1 |
| Better than sector | 75% |
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 71.0% | 48.3% | |
| Net result | €1.92M | €31k | |
| Equity | €10.26M | €187k | |
| Total assets | €14.45M | €477k |
Show 14 other metrics
| Fiscal year | 2025 |
|---|---|
| Deposit | volledig |
| Revenue | €18.88M |
| EBITDA | €2.58M |
| Net profit | €1.92M |
| Cash flow | €2.01M |
| Staff costs | €4.79M |
| Income taxes | €521k |
| Dividends | - |
| Total assets | €14.45M |
| Equity | €10.26M |
| Debt | €4.18M |
| of which ≤ 1y | €3.92M |
| of which > 1y | €264k |
| Working capital | €5.78M |
| Employees (FTE) | 29.1 |
| 2025 | |
|---|---|
| Current ratio | 2.48 |
| Quick ratio | 2.40 |
| Working capital ratio | 40.0% |
| Solvency | 71.0% |
| Debt / equity | 0.41 |
| Long-term debt ratio | 0.03 |
| Interest coverage | 322.38 |
| Gross margin | - |
| Net margin | 10.1% |
| ROA | 13.3% |
| ROE | 18.7% |
| EBITDA margin | 13.7% |
| Days sales outstanding | 140d |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (25 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €14.45M |
| Fixed assets | 21/28 | €4.74M |
| Tangible fixed assets | 22/27 | €130k |
| Financial fixed assets | 28 | €4.61M |
| Current assets | 29/58 | €9.70M |
| Stocks & contracts in progress | 3 | €300k |
| Amounts receivable within one year | 40/41 | €7.38M |
| Cash & bank | 54/58 | €2.01M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €14.45M |
| Equity | 10/15 | €10.26M |
| Contributions / capital | 10/11 | €450k |
| Reserves | 13 | €45k |
| Accumulated profits (losses) | 14 | €9.77M |
| Amounts payable | 17/49 | €4.18M |
| Amounts payable after one year | 17 | €264k |
| Amounts payable within one year | 42/48 | €3.92M |
| Trade debts payable within one year | 44 | €2.74M |
| Income statement | ||
| Turnover | 70 | €18.88M |
| Operating result | 9901 | €2.48M |
| Financial income | 75 | €22k |
| Financial charges | 65 | €70k |
| Result before taxes | 9903 | €2.44M |
| Income taxes | 67/77 | €521k |
| Net result for the period | 9904 | €1.92M |
| Result to be appropriated | 9905 | €1.92M |
-
Bruno GstachDirectorState Gazette act 24082543 (31-05-2024)Current31-05-2024 → present
-
Pierre Serge KadziolaDirectorState Gazette act 21361890 (19-10-2021)Current19-10-2021 → present
-
TORALIUS SRLLegal entityManaging directorState Gazette act 20105024 (11-09-2020)Current11-09-2020 → present
2 events
- 11-09-2020 Appointed· Managing director
- 11-09-2020 Appointed· Director
Historic, not recently confirmed (12)
-
Marc VAN OVERMEIREDirectorState Gazette act 18109493 (13-07-2018)Not recently confirmedlast confirmed in an act from 2018
5 events
- 19-10-2021 Resigned· Director
- 13-07-2018 Appointed· Director
- 06-03-2017 Resigned· Director
- 10-05-2016 Appointed· Director
- 08-05-2015 Appointed· Director
-
Georges HegoDirectorState Gazette act 17134240 (21-09-2017)Not recently confirmedlast confirmed in an act from 2017
-
Pierre KadziolaDirectorState Gazette act 17134240 (21-09-2017)Not recently confirmedlast confirmed in an act from 2017
-
BMS&C°, société civileAuditorState Gazette act 17052772 (13-04-2017)Not recently confirmedlast confirmed in an act from 2017
-
Jarı RENNEBOOGDirectorState Gazette act 16063701 (10-05-2016)Not recently confirmedlast confirmed in an act from 2016
-
Andy WILLAERTDirectorState Gazette act 15085302 (17-06-2015)Not recently confirmedlast confirmed in an act from 2015
-
Guy JACQUESDirectorState Gazette act 15065359 (08-05-2015)Not recently confirmedlast confirmed in an act from 2015
-
Guy VERNIEUWEDirectorState Gazette act 15065359 (08-05-2015)Not recently confirmedlast confirmed in an act from 2015
-
Johan VAN DEN BUSSCHEDirectorState Gazette act 15065359 (08-05-2015)Not recently confirmedlast confirmed in an act from 2015
3 events
- 08-05-2015 Appointed· Director
- 30-06-2011 Resigned· Director
- 07-06-2010 Appointed· Director
-
Patrick STEYAERTDirectorState Gazette act 15065359 (08-05-2015)Not recently confirmedlast confirmed in an act from 2015
2 events
- 08-05-2015 Appointed· Director
- 15-09-2010 Appointed· Director
-
Pol CABYDirectorState Gazette act 11097687 (30-06-2011)Not recently confirmedlast confirmed in an act from 2011
-
BVBA Antoine MartensLegal entityDirectorState Gazette act 10081013 (07-06-2010)Not recently confirmedlast confirmed in an act from 2010
Permanent representatives (3)
-
Bruno GstachReprésentant permanent de apave developpement sasState Gazette act 21361890 (19-10-2021)Permanent representative19-10-2021 → present
-
Jean-Marc Georges Germain DupasReprésentant permanent de toraliusState Gazette act 21361890 (19-10-2021)Permanent representative19-10-2021 → present
-
Marc Van OvermeireReprésentant permanent de bensamerState Gazette act 21361890 (19-10-2021)Permanent representative19-10-2021 → present
Former directors (18)
-
Jacques CouvertDirectorState Gazette act 21361890 (19-10-2021)Former21-09-2017 → 31-05-2024
3 events
- 31-05-2024 Resigned· Director
- 19-10-2021 Appointed· Director
- 21-09-2017 Appointed· Director
-
Hego Georges Ernest ClaudeDirectorState Gazette act 21361890 (19-10-2021)Former- → 19-10-2021
-
Stéphane TorrezDirectorState Gazette act 17134240 (21-09-2017)Former21-09-2017 → 19-10-2021
2 events
- 19-10-2021 Resigned· Director
- 21-09-2017 Appointed· Director
-
Jean-Marc DupasDirectorState Gazette act 17134240 (21-09-2017)Former21-09-2017 → 11-09-2020
2 events
- 11-09-2020 Resigned· Director
- 21-09-2017 Appointed· Director
-
Gilles PascaultDirectorState Gazette act 17134240 (21-09-2017)Former21-09-2017 → 13-07-2018
2 events
- 13-07-2018 Resigned· Director
- 21-09-2017 Appointed· Director
| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| Paul MOREAUCurrent Commissaire |
- | 20-04-2023 → present |
Show 1 earlier auditors
| Michel DELBROUCK Commissaire succeeded by Paul MOREAU in 2023 |
- | 08-05-2015 → 20-04-2023 |
| NACE primary | Overige technische testen en toetsen(71209) |
| Legal form | Public limited company(014) |
| Incorporation | 11-06-2004 |
| Status | Active |
| Postal code | 1000 |
Parcels 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.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21808H1372/00K000 | Brussels | 2,159 m² | 1 · 2,113 m² | 88.8 m · 7 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
We know of 29 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
31-05-2024 1 director appointed, 1 resigning
- Bruno Gstach, Bestuurder
- Jacques Couvert, Bestuurder
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}20-04-2023 Paul MOREAU appointed as commissaire
- Paul MOREAU, Commissaire
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- Bruno Gstach, Représentant permanent de apave developpement sas
- Marc Van Overmeire, Représentant permanent de bensamer
- Jacques Couvert, Bestuurder
- Pierre Serge Kadziola, Bestuurder
- Jean-Marc Georges Germain Dupas, Représentant permanent de toralius
- Stéphane Torrez, Bestuurder
- Marc Van Overmeire, Bestuurder
- Hego Georges Ernest Claude, Bestuurder
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}11-09-2020 2 directors appointed, 1 resigning
- TORALIUS SRL, Gedelegeerd bestuurder
- TORALIUS SRL, Bestuurder
- Jean-Marc Dupas, Bestuurder
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}13-07-2018 1 director appointed, 1 resigning
- Marc VAN OVERMEIRE, Bestuurder
- Gilles PASCAULT, Bestuurder
Technical details
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}21-09-2017 6 directors appointed, 6 resigning
- Jacques Couvert, Bestuurder
- Pierre Kadziola, Bestuurder
- Gilles Pascault, Bestuurder
- Stéphane Torrez, Bestuurder
- Georges Hego, Bestuurder
- Jean-Marc Dupas, Bestuurder
- Daniel Derochette, Bestuurder
- Peter Van Gaelen, Bestuurder
Technical details
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}13-04-2017 BMS&C°, société civile appointed as auditor
- BMS&C°, société civile, Auditor
Technical details
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}03-04-2017 Registered office moved within Bruxelles
- Rue Ravenstein 60 - 1000 Bruxelles → Tour Sablon (15ème étage), rue Joseph Stevens 7, 1000 Bruxelles
Technical details
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}06-03-2017 3 directors appointed, 3 resigning
- Bernard HERNANDEZ, Bestuurder
- Ben VAN ROOSE, Bestuurder
- Kris VEKEMAN, Bestuurder
- Jan RENNEBOOG, Bestuurder
- Marc VAN OVERMEIRE, Bestuurder
- Yves CARELS, Bestuurder
Technical details
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}20-12-2016 Jan RENNEBOOG resigns as director
- Jan RENNEBOOG, Bestuurder
Technical details
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}10-05-2016 6 directors appointed
- Daniel DEROCHETTE, Bestuurder
- Jarı RENNEBOOG, Bestuurder
- Marc VAN OVERMEIRE, Bestuurder
- Yves CARELS, Bestuurder
- Peter VAN GAELEN, Bestuurder
- MACLA SPRL, Bestuurder
Technical details
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- MACLA SPRL, Bestuurder
- VAN STEENBERGEN, Bestuurder
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- MACLA SPRL, Bestuurder
- Roger VAN STEENBERGEN, Bestuurder
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- Andy WILLAERT, Bestuurder
- Peter VAN GAELEN, Bestuurder
- Etienne DEBLON, Bestuurder
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- Michel DELBROUCK, Commissaire
- Jan RENNEBOOG, Bestuurder
- Johan VAN DEN BUSSCHE, Bestuurder
- Marc VAN OVERMEIRE, Bestuurder
- Guy JACQUES, Bestuurder
- Patrick STEYAERT, Bestuurder
- Guy VERNIEUWE, Bestuurder
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}30-06-2011 1 director appointed, 1 resigning
- Pol CABY, Bestuurder
- Johan VAN DEN BUSSCHE, Bestuurder
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}15-09-2010 1 director appointed, 1 resigning
- Patrick STEYAERT, Bestuurder
- Antoine MARTENS, Bestuurder
Technical details
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}07-06-2010 2 directors appointed, 2 resigning
- Johan VAN DEN BUSSCHE, Bestuurder
- BVBA Antoine Martens, Bestuurder
- Leo PARYS, Bestuurder
- Antoine MARTENS, Bestuurder
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}| Legal nameFR | CERTIFER BELGORAIL |
| Trade nameFR | CERTIFER |