Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 35 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
CEFIMA from Waregem, company number BE0454123217, closed financial year 2025 with a result of € -170,873 after tax. For that financial year CEFIMA recorded a gross margin of € -44,186 and equity of € 2.8 million. Compared with financial year 2024, the result moved from € 94,446 to € -170,873. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 27, 2026.
€ 2.8 million
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -170,873
▼ still € 94,446 profit in 2024
Profit after tax over the fiscal year.
€ 34,498
▼ 83% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.1 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 55,746
▼ 39% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 60,000
▼ 67% vs 2024
Loans from banks and other lenders, long and short.
€ 114,954
▲ € 105,662 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 535
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 223,641 | € 212,529 | € 231,865 | € -44,186 | ▼ € 276,051 |
| Profit after taxes | € 93,107 | € 61,855 | € 94,446 | € -170,873 | ▼ € 265,318 |
| Equity | € 2,957,578 | € 2,969,434 | € 2,973,879 | € 2,803,006 | ▼ 6% |
| Total debts | € 1,043,712 | € 837,344 | € 783,548 | € 665,459 | ▼ 15% |
| Cash | € 294,866 | € 108,901 | € 207,605 | € 34,498 | ▼ 83% |
| Land & buildings | € 3,037,971 | € 3,017,307 | € 2,769,473 | € 2,708,942 | ▼ 2% |
| Retained profit | € 2,207,578 | € 2,219,434 | € 2,223,879 | € 2,053,006 | ▼ 8% |
| Dividend | € 80,000 | € 50,000 | € 90,000 | € 0 | ▼ 100% |
| Bank debt | € 420,000 | € 300,000 | € 180,000 | € 60,000 | ▼ 67% |
| Balance sheet total | € 4,001,290 | € 3,806,777 | € 3,757,427 | € 3,468,465 | ▼ 8% |
Key figures of CEFIMA, 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 CEFIMA?
What happened at CEFIMA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- ManaMax BV stepped down as director. NBB
- Valérie De Clerck stepped down as director. NBB
- STEENHOUT NV stepped down as director. NBB
- BERCOFIN NV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 170,873 (▼ € 265,318 vs 2024). filed late Source: NBB ↗
- ManaMax BV became a director. NBB
- Valérie De Clerck became a director. NBB
- BERCOFIN NV became a director. NBB
In short
From € 93,107 profit in 2022 to € 170,873 loss in 2025.
Paid € 25,131 in corporate taxes since 2022.
Best year ever: 2024, with € 94,446 profit.
Paid out € 220,000 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of REINVEST II, BERCOFIN comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CEFIMAThe shares are held by REINVEST II (100%) and BERCOFIN (100%).
Directors
According to the 2025 annual accounts
Managing director · represented by Véronique Santens
since 2018 · until 2027
Director · represented by Maxime De Clerck
Also active at: TER LEMBEEK INTERNATIONAL, Beaulieu Real Estate, BURCHTDAM, IMMOWILLCO, BERCOFIN, AMPLA HOUSE PROPERTIES, MAHY, Lease Estate +2 more
since 2019 · until 2027
Chairman of the board · represented by Dominiek De Clerck
Also active at: TER LEMBEEK INTERNATIONAL, IMMOWILLCO, BEAULIEU INTERNATIONAL GROUP, B.I.G COORDINATION CENTER, BERCOFIN, The Waterfront Collection
since 2015 · until 2027
Shareholders
100%
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Mannebeekstraat 33
8790 Waregem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0454.123.217
- VAT number
- BE 0454.123.217
- Registered office
- Mannebeekstraat 33, 8790 Waregem
- Names & denominations
- CEFIMA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 December 1994
- Peppol
- Active · Active since 22 Dec 2025
- Activities · NACE
Activiteiten van incasso- en kredietbureaus
Incassobureaus en onderzoek naar de kredietwaardigheid