CMA CGM BELGIUM · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of CMA CGM BELGIUM is 0.4% (very low). The 2024 annual accounts show equity of €534k and a net result of €1.09M. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 22% of 105 sector peers (fiscal year 2024). The company has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

2 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 105 sector peers (2024).

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 24 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

A punctual record breaks

This company filed 3 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-10-2025, 62 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	01-10-2025	62 d late	2025-00539648
31-12-2023	31-07-2024	29-07-2024	2 d early	2024-00324695
31-12-2022	31-07-2023	21-06-2023	40 d early	2023-00152403
31-12-2021	31-07-2022	25-07-2022	6 d early	2022-20226058
31-12-2020	31-07-2021	11-10-2021	72 d late	2021-71500305
31-12-2019	31-07-2020	20-08-2020	20 d late	2020-42400219
31-12-2018	31-07-2019	09-01-2020	162 d late	2020-00500330
31-12-2017	31-07-2018	04-09-2018	35 d late	2018-60000572
31-12-2016	31-07-2017	29-06-2017	32 d early	2017-24500027
31-12-2015	31-07-2016	30-06-2016	31 d early	2016-28000120

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 1985, 41 years in business.

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 strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.4% Very low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Long track record −Lower-risk legal form −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€22.88M+8.6%

EBIT margin3.7%-0.4pp

Net result€1.09M+42.1%

Working capital€515k-55.1%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 01-10-2025 with the NBB · fiscal year 2024 · volledig

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 6 fiscal years (±0%/year).

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 52 · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	6.0%	27.0%	better than 22% of 105 sector peers
Net result	€1.09M	€35k	better than 86% of 105 sector peers
Equity	€534k	€440k	better than 53% of 105 sector peers
Staff costs	€18.54M	€705k	higher than 91% of 74 sector peers
Employees (FTE)	181.5	16.7	better than 88% of 66 sector peers

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).

Solvency P22

Stable position over 2020-2024 · n=54-105

Net result P86

Stable position over 2020-2024 · n=54-105

Equity P53

Stable position over 2020-2024 · n=54-105

Staff costs P91

Stable position over 2022-2024 · n=64-74

Describes the position versus peers, not a forecast.

Revenue

€22.88M

+8.6% 18-24

EBITDA

€994k

-2.8% 18-24

Net profit

€1.09M

+42.1% 18-24

Cash flow

€1.23M

+35.1% 18-24

Total assets

€8.90M

-50.7% 18-24

Equity

€534k

-59.0% 18-24

Working capital

€515k

-55.1% 18-24

Employees (FTE)

182

-9.1% 18-24

Show 14 other metrics

Staff costs

€18.54M

+5.9% 18-24

Income taxes

€532k

-10.2% 18-24

Dividends

€1.09M

+0.6% 18-24

Debt

€8.03M

-51.4% 18-24

Debt ≤ 1y

€8.03M

-51.4% 18-24

Current ratio

1.06

-0.5% 18-24

Quick ratio

1.06

-0.5% 18-24

Solvency

6.0%

-16.8% 18-24

Debt / equity

15.04

+18.7% 18-24

ROE

204.7%

+246.7% 18-24

ROA

12.3%

+188.4% 18-24

Net margin

4.8%

+30.8% 18-24

EBITDA margin

4.3%

-10.5% 18-24

Interest coverage

92.67

+1475.1% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	volledig
Revenue	€22.88M
EBITDA	€994k
Net profit	€1.09M
Cash flow	€1.23M
Staff costs	€18.54M
Income taxes	€532k
Dividends	€1.09M
Total assets	€8.90M
Equity	€534k
Debt	€8.03M
of which ≤ 1y	€8.03M
of which > 1y	-
Working capital	€515k
Employees (FTE)	181.5

Ratios (computed)

	2024
Current ratio	1.06
Quick ratio	1.06
Working capital ratio	5.8%
Solvency	6.0%
Debt / equity	15.04
Long-term debt ratio	-
Interest coverage	92.67
Gross margin	-
Net margin	4.8%
ROA	12.3%
ROE	204.7%
EBITDA margin	4.3%
Days sales outstanding	84d
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €353k · 4.0% Current assets €8.54M · 96.0%

Equity & liabilities

Equity €534k · 6.0% Provisions €334k · 3.8% Debt €8.03M · 90.2%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€8.90M
Fixed assets	21/28	€353k
Intangible fixed assets	21	€196k
Tangible fixed assets	22/27	€147k
Financial fixed assets	28	€10k
Current assets	29/58	€8.54M
Amounts receivable within one year	40/41	€8.22M
Cash & bank	54/58	€309k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€8.90M
Equity	10/15	€534k
Contributions / capital	10/11	€350k
Reserves	13	€184k
Provisions & deferred taxes	16	€334k
Amounts payable	17/49	€8.03M
Amounts payable within one year	42/48	€8.03M
Trade debts payable within one year	44	€2.76M
Income statement
Turnover	70	€22.88M
Operating result	9901	€854k
Financial income	75	€905k
Financial charges	65	€134k
Result before taxes	9903	€1.62M
Income taxes	67/77	€532k
Net result for the period	9904	€1.09M
Result to be appropriated	9905	€1.09M

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

75 / 100 Excellent

050100

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.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Directors

Directors & mandates

16 directors

26 of this company's 27 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.

Current directors & mandates

Arnaud Alexandre Louis Thibault
Director
State Gazette act 26009348 (20-01-2026)

Current
01-12-2025 → present
Toon Pierré
Daily management
State Gazette act 25076658 (18-06-2025)

Current
01-05-2025 → present
Ludovic Marcel Jean Claude Renou
Director
State Gazette act 26104224 (14-08-2026)

Current
20-11-2024 → present
2 events
- 15-07-2026 Mandate renewed· Director
- 20-11-2024 Appointed· Director
DekoseaLegal entity
Director· perm. rep.: Patrick Kockx
State Gazette act 24156265 (30-10-2024)

Current
01-02-2020 → present
4 events
- 25-07-2024 Mandate renewed· Director
- 25-07-2024 Mandate renewed· Managing director
- 01-02-2020 Appointed· Managing director
- 01-02-2020 Appointed· Director

Historic, not recently confirmed (1)

These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.

Farid T. Salem
Director
State Gazette act 15054606 (15-04-2015)

Not recently confirmed
last confirmed in an act from 2015

Former directors (11)

Christophe Colloc
Director
State Gazette act 24169358 (29-11-2024)

Former
03-10-2024 → 01-12-2025
2 events
- 01-12-2025 Resigned· Director
- 03-10-2024 Appointed· Director
Jean-Philippe Thenoz
Daily management
State Gazette act 25019578 (06-02-2025)

Former
30-09-2013 → 01-05-2025
4 events
- 01-05-2025 Resigned· Daily management
- 15-01-2025 Appointed· Daily management
- 01-03-2018 Resigned· Director
- 30-09-2013 Appointed· Director
Audrey Dolhen
Director
State Gazette act 23007996 (17-01-2023)

Former
15-11-2022 → 20-11-2024
2 events
- 20-11-2024 Resigned· Director
- 15-11-2022 Appointed· Director
Flavien Leleux
Director
State Gazette act 19117108 (30-08-2019)

Former
22-10-2018 → 15-11-2022
2 events
- 15-11-2022 Resigned· Director
- 22-10-2018 Appointed· Director
Mathäus FRIEDBERG
Director
State Gazette act 18075037 (11-05-2018)

Former
01-03-2018 → 07-12-2020
2 events
- 07-12-2020 Resigned· Director
- 01-03-2018 Appointed· Director

6 further former directors in the mandate history. Available in Kantoor S. See plans →

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.

Statutory auditor

6 auditors

Statutory auditor	IRE/IBR number	Tenure
EY Bedrijfsrevisoren BVCurrent Statutory auditor · represented by Koen De Nijs	-	09-07-2024 → present

Show 5 earlier auditors

Deloitte Statutory auditor · represented by Luc Van Coppenolle succeeded by Ernst & Young Bedrijfsrevisoren BV in 2020	-	15-04-2015 → 29-06-2020
Deloitte bedrijfsrevisoren CVBA Statutory auditor · represented by Luc Van Coppenolle	-	14-06-2018 → 29-06-2020
Ernst & Young Bedrijfsrevisoren BV Statutory auditor · represented by Christoph Oris succeeded by EY Bedrijfsrevisoren BV in 2024	-	29-06-2020 → 09-07-2024
PricewaterhouseCoopers Bedrijfsrevisoren BCVBA Statutory auditor · represented by Thomas Scheyvaerts succeeded by Deloitte in 2015	-	17-07-2013 → 15-04-2015
PWC Statutory auditor · represented by Tom Scheyvaerts	-	- → 15-04-2015

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	Logistieke diensten(52250)
Legal form	Public limited company(014)
Incorporation	21-06-1985
Status	Active
Postal code	2030

Structure & network

Connections & network

1 connected company

Group structure

Dekosea

Sits on the board · 1 subsidiary · 1 location

Control→

Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.

Ownership & control

1 party

Control over this companysits on this company's board1

Dekosea

1 subsidiary · 1 location

controls

CMA CGM BELGIUMBE 0427.388.730

Each band states what its claims rest on. A board seat is influence over the board, not ownership. Court mandates (receiver, interim administrator) and liquidation mandates do not link companies and are therefore absent here; they belong under Directors & mandates.

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

2 companies at this address See who is registered here

Establishment units

1 location

DELMAS BELGIUM (Division of CCB NV)

Klipperstraat 15, 2030 Antwerpenhet laden en lossen van goederen en van bagage van reizigers in zeehavens

since 19852.027.436.491

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area2,846 m²

Buildings1

Building footprint839 m²

Volume (LiDAR)19,044 m³

Tallest building27.1 m · ±8 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

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.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11807G2116/00C002	Flanders	2,846 m²	1 · 839 m²	27.1 m · 8 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

Belgian State Gazette · acts

1 of 27 acts read

Of the 27 Belgian State Gazette acts we know for this company, 1 has been read. The other 26 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

What every Belgian State Gazette publication actually says, each act broken down into appointments, capital movements, seat moves and statute amendments.

2026

14-08-2026 General meeting · Director reappointment · Mandate compensation

4 facts