Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 40 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
84 other companies have their registered office at the same address; threshold 10.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
CETIM PROJECTS from Watermaal-Bosvoorde, company number BE0457885530, closed financial year 2025 with a result of € 1.2 million after tax. For that financial year CETIM PROJECTS recorded a gross margin of € -172,878 and equity of € 94,277. Compared with financial year 2024, the result moved from € 599,367 to € 1.2 million. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 9, 2026.
€ 94,277
▲ € 720,639 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.2 million
▲ 104% vs 2024
Profit after tax over the fiscal year.
€ 467,452
▼ 31% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 500,000 paid out
41 % of the profit went to the shareholders, the rest stayed in the company.
Debts at end 2025
€ 15,556
▼ 36% vs 2024
€ 9,237 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 38,559
▼ 77% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -303,908 | € -615,039 | € -245,414 | € -172,878 | ▲ € 72,537 |
| Profit after taxes | € 795,775 | € -2,507,061 | € 599,367 | € 1,220,639 | ▲ 104% |
| Equity | € 1,281,331 | € -1,225,729 | € -626,362 | € 94,277 | ▲ € 720,639 |
| Total debts | € 16,954,614 | € 11,744,381 | € 11,977,534 | € 1,160,263 | ▼ 90% |
| Cash | € 426,155 | € 616,696 | € 674,501 | € 467,452 | ▼ 31% |
| Retained profit | € 1,216,138 | € -1,290,922 | € -691,555 | € 29,084 | ▲ € 720,639 |
| Dividend | € 0 | € 0 | € 0 | € 500,000 | |
| Bank debt | € 41,012 | € 112,873 | € 24,392 | € 15,556 | ▼ 36% |
| Balance sheet total | € 18,235,946 | € 10,518,652 | € 11,351,171 | € 1,254,540 | ▼ 89% |
Key figures of CETIM PROJECTS, 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 CETIM PROJECTS?
What happened at CETIM PROJECTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Immopub SRL stepped down as director. NBB
- Pascal Baltus SRL stepped down as director. NBB
- Philing sa ( ex Guardiola sa) stepped down as director. NBB
- Harmont Invest SRL stepped down as director. NBB
- Vfranco SRL stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.2 million (▲ 104% vs 2024). Source: NBB ↗
- Re-Invest SA stepped down as director. NBB
- Vincent Domier srl SRL stepped down as director. NBB
In short
From € 795,775 profit in 2022 to € 1.2 million profit in 2025.
Best year ever: 2025, with € 1.2 million profit.
Paid out € 500,000 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 Philing, HUGUES CISELET, VFRANCO, PASCAL BALTUS, EXTIM comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CETIM PROJECTSThe shares are held by Philing (33.2%), HUGUES CISELET (14.3%), VFRANCO (10.1%), PASCAL BALTUS (10%) and EXTIM (3%). It owns 40% of Diarios do Oceano activdades Imob. LDA, 37.4% of Unidorm Residencias para Estutandes SA, 26.5% of Libertgnosis Inv Imob. & Turis. SA, 25% of Oise Investimentos e Gestao , SA and 25% of Growing Springs Inv Imob.e Turis. SA itself.
Directors
According to the 2025 annual accounts
since 2023 · until 2029
Director · represented by Vincent Doumier
Also active at: Etilux, LCEBE, B.B.L.C., CODIC INTERNATIONAL, NOMAINVEST, JCMLA HOLDING, CETIM, COFIR
since 2023 · until 2024
Chairman of the board · represented by Brigitte Gouder de Beauregard
Also active at: ANDEL, CETIM, CETIM Student RE
since 2023 · until 2024
since 2023 · until 2029
Director · represented by Marc Van Doornick
Also active at: HELIVENTURE FTO, INYTIUM, Lucky Cycle, The Belgian Pie Company, Bon Group, CETIM, HELICOFIN, DSGI +7 more
since 2023 · until 2029
since 2023 · until 2029
since 2023 · until 2029
Shareholders
Participations
Diarios do Oceano activdades Imob. LDA
40%
Unidorm Residencias para Estutandes SA
37.4%
Libertgnosis Inv Imob. & Turis. SA
26.5%
Oise Investimentos e Gestao , SA
25%
Growing Springs Inv Imob.e Turis. SA
25%
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 181
1170 Watermaal-Bosvoorde
Terhulpsesteenweg 130
1000 Brussel
Active since 20 May 1996
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 84 companies are registered at this address.
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€ 36.7 million revenue · 2024
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€ 18.8 million revenue · 2025
Maison de la solidarité
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Tob
+79 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0457.885.530
- VAT number
- BE 0457.885.530
- Registered office
- Terhulpsesteenweg 181, 1170 Watermaal-Bosvoorde
- Names & denominations
- CETIM PROJECTS · CETIM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 9 May 1996
- Peppol
- Not registered
- Activities · NACE
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis