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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 20 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
CSE H2 from Waterloo, company number BE0534754961, closed financial year 2025 with a result of € -74,331 after tax. Compared with financial year 2024, the result moved from € -43,291 to € -74,331. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 8, 2026.
€ -266,657
▼ € 74,331 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -74,331
▼ 72 % more loss than in 2024
Profit after tax over the fiscal year.
€ 22,068
▼ 75% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -287,117.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 122,618
▲ 2% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 911 days on average.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | € 364,545 | - | - | |
| Profit after taxes | € -242,040 | € 72,545 | € -43,291 | € -74,331 | ▼ € 31,040 |
| Equity | € -233,980 | € -149,035 | € -192,326 | € -266,657 | ▼ € 74,331 |
| Total debts | € 933,644 | € 429,211 | € 421,346 | € 430,563 | ▲ 2% |
| Cash | € 309,182 | € 146,136 | € 90,002 | € 22,068 | ▼ 75% |
| Retained profit | € -242,040 | € -169,495 | € -212,786 | € -287,117 | ▼ € 74,331 |
| Balance sheet total | € 699,664 | € 280,176 | € 229,020 | € 163,907 | ▼ 28% |
Key figures of CSE H2, 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 CSE H2?
What happened at CSE H2 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 74,331. Source: NBB ↗
- Absolute Consulting SRL stepped down as director. NBB
- HEWIMA SRL became a director. NBB
- Xavier Pierlet SRL became a director. NBB
- Keystone SRL became a director. NBB
- Absolute Consulting SRL became a director. NBB
- New establishment in Charleroi. KBO
- Start of the company according to the CBE. KBO
In short
From € 242,040 loss in 2022 to € 74,331 loss in 2025.
Best year ever: 2023, with € 72,545 profit.
Management
The stake of HOLDMAISY, JEC INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CSE H2Behind CSE H2 are Xavier Pierlet SRL, HEWIMA SRL and Keystone SRL. The shares are held by HOLDMAISY (99.5%) and JEC INVEST (0.5%).
Directors
According to the 2025 annual accounts
Director · represented by Xavier Pierlet
Also active at: OTTIGNIMMO, MECCO-GOSSENT, HD17 HOLDING, ALIPHIL, HD17 IMMO, BELMONT PROPERTIES, C-IMMO, BRENTIMMO +26 more
since 2022
Director · represented by Guillaume Beuscart
Also active at: OTTIGNIMMO, MESTDAGH, HD17 HOLDING, ALIPHIL, SUPALI, HD17 IMMO, SUPERLOG, BELMONT PROPERTIES +28 more
since 2025
Director · represented by Thomas Rihoux
Also active at: OTTIGNIMMO, MECCO-GOSSENT, ALIPHIL, SUPALI, BELMONT PROPERTIES, C-IMMO, BRENTIMMO, LUXIS - M +25 more
since 2022
Director · represented by Olivier Beguin
Also active at: I.D., THOMAS & PIRON HOME, ORTHOPEDIE TOUSSAINT, OTTIGNIMMO, Galère, Sporsystem, MECCO-GOSSENT, Société anonyme WAUTERS NV +50 more
since 2022 · until 2025
Shareholders
99.5%
0.5%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Drève Richelle 161 Bât.D box 19
1410 Waterloo
Avenue Jean Mermoz 1 box 4
6041 Charleroi
Active since 4 July 2013
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →MECCO-GOSSENT same network
€ 5.3 million revenue · 2025
ALIPHIL same network
€ 164,090 revenue · 2025
SUPALI same network
€ 8,600 revenue · 2025
BELMONT PROPERTIES same network
BRENTIMMO same network
+17 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
- 0534.754.961
- VAT number
- BE 0534.754.961
- Registered office
- Drève Richelle 161 Bât.D bus 19, 1410 Waterloo
- Names & denominations
- CSE H2
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 28 May 2013
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Bemiddeling in verband met exploitatie van en handel in onroerend goed
Bemiddeling bij de aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis
Algemene bouw van residentiële gebouwen