Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 14.6 to 10.5.
Financials
Financial year 2025
CERCO from Braine-le-Comte, company number BE0427703088, closed financial year 2025 with a result of € 105,914 after tax. For that financial year CERCO recorded revenue of € 5.2 million and equity of € 5.2 million. Compared with financial year 2024, the result moved from € 364,945 to € 105,914. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 28, 2026.
€ 5.2 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 105,914
▼ 71% vs 2024
Profit after tax over the fiscal year.
€ 643,949
▼ 15% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 5.1 million.
People and assets in 2025
10.5
▼ 3.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 630,028
▼ 22% vs 2024
€ 60,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 139,234
▼ 40% vs 2024
Of which on lease € 66,052.
Debts at end 2025
€ 121,212
▼ 23% vs 2024
€ 37,188 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 516,402
▼ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 45 days on average.
€ 109,479
▼ 59% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 6,968,382 | € 5,163,662 | ▼ 26% |
| Gross margin | € 1,488,554 | € 1,957,614 | - | - | |
| Profit after taxes | € 504,856 | € 787,344 | € 364,945 | € 105,914 | ▼ 71% |
| Equity | € 3,999,470 | € 4,686,110 | € 5,051,054 | € 5,156,968 | ▲ 2% |
| Total debts | € 3,834,737 | € 2,571,091 | € 1,578,684 | € 2,459,424 | ▲ 56% |
| Cash | € 1,518,544 | € 931,774 | € 753,359 | € 643,949 | ▼ 15% |
| Land & buildings | € 285,414 | € 262,373 | € 239,332 | € 216,291 | ▼ 10% |
| Retained profit | € 3,896,766 | € 4,584,110 | € 4,949,054 | € 5,054,968 | ▲ 2% |
| Dividend | € 40,000 | € 100,000 | € 0 | € 0 | |
| Bank debt | € 72,897 | € 191,939 | € 157,172 | € 121,212 | ▼ 23% |
| Balance sheet total | € 8,258,509 | € 7,692,025 | € 6,928,085 | € 7,842,261 | ▲ 13% |
| Employees (FTE) | 14.8 | 14.6 | 14.2 | 10.5 | ▼ 3.7 |
Key figures of CERCO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to CERCO?
What happened at CERCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- C.E.I.I. SA stepped down as director. NBB
- Guy PEETERS stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 105,914 (▼ 71% vs 2024). filed late Source: NBB ↗
- C.E.I.I. SA became a director. NBB
- Guy PEETERS became a director. NBB
- New establishment in Braine-le-Comte. KBO
- Start of the company according to the CBE. KBO
In short
From € 504,856 profit in 2022 to € 105,914 profit in 2025.
Paid € 512,090 in corporate taxes since 2022.
Best year ever: 2023, with € 787,344 profit.
On average € 134,100 of value added per employee in 2023.
Management
The stake of COMPAGNIE EUROPEENNE IMMOBILIERE ET D'INVESTISSEMENT, FINANCIERE MARCURE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CERCOThe shares are held by COMPAGNIE EUROPEENNE IMMOBILIERE ET D'INVESTISSEMENT (42.8%) and FINANCIERE MARCURE (42.8%). It owns 100% of GEOPROBE, 50% of SWALMEC and 33.3% of CARRIERES DE LA THURE itself.
Directors
According to the 2025 annual accounts
Director · represented by Virginie PEETERS
Also active at: SOCIETE WALLONNE DE LOCATION DE MATERIEL ET D'EXPLOITATION DE CARRIERES, GEOPROBE ENVIRONMENTAL TECHNOLOGIES
since 2023 · until 2029
Guy PEETERS
Managing director
Also active at: Carrières de la Thure, COMPAGNIE EUROPEENNE IMMOBILIERE ET D'INVESTISSEMENT
since 2023 · until 2029
Shareholders
Participations
Establishments
Establishment units
Physical locations of this company
Chaussée de Bruxelles(Hennuyères) 206-208
7090 Braine-le-Comte
Chaussée de Bruxelles 206
7090 Braine-le-Comte
Active since 25 September 1985
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0427.703.088
- VAT number
- BE 0427.703.088
- Registered office
- Chaussée de Bruxelles(Hennuyères) 206-208, 7090 Braine-le-Comte
- Names & denominations
- CERCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 4 September 1985
- Peppol
- Active · Active since 21 Oct 2026
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