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 8 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Canelo from Gistel, company number BE0643747824, closed financial year 2025 with a result of € 67,544 after tax. For that financial year Canelo recorded a gross margin of € 166,235 and equity of € 188,459. Compared with financial year 2024, the result moved from € 70,915 to € 67,544. The company is profitable. 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 September 7, 2026.
€ 188,459
▲ 56% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 67,544
▼ 5% vs 2024
Profit after tax over the fiscal year.
€ 20,429
▲ 28% 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 € 138,459.
Debts at end 2025
€ 871,667
▼ 8% vs 2024
€ 87,190 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 1,469
▼ 34% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 20,085
▲ 6% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Gross margin | € 171,723 | € 166,235 | ▼ 3% |
| Profit after taxes | € 70,915 | € 67,544 | ▼ 5% |
| Equity | € 120,915 | € 188,459 | ▲ 56% |
| Total debts | € 1,372,393 | € 1,293,906 | ▼ 6% |
| Cash | € 16,016 | € 20,429 | ▲ 28% |
| Land & buildings | € 1,476,481 | € 1,439,216 | ▼ 3% |
| Retained profit | € 70,915 | € 138,459 | ▲ 95% |
| Dividend | € 26,135 | € 0 | ▼ 100% |
| Bank debt | € 950,908 | € 871,667 | ▼ 8% |
| Balance sheet total | € 1,493,308 | € 1,482,365 | ▼ 1% |
Key figures of Canelo, fiscal years 2024 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 Canelo?
What happened at Canelo in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 67,544 (▼ 5% vs 2024). filed late Source: NBB ↗
- RIA DEGRAUWE became a director. NBB
- New establishment in Gistel. KBO
- Start of the company according to the CBE. KBO
- GEERT STEEN became a director. NBB
In short
From € 70,915 profit in 2024 to € 67,544 profit in 2025.
Paid € 72,686 in corporate taxes since 2024.
Best year ever: 2024, with € 70,915 profit.
Paid out € 26,135 in dividends to the owners in total.
Management
Behind Canelo are GEERT STEEN and RIA DEGRAUWE. The same people are also behind STEEN ELEKTRICITEIT. GEERT STEEN is also behind STEEN & VDK TECHNIEKEN, GLOBAL REX 2 and LAPIS SOLAR.
Directors
According to the 2025 annual accounts
GEERT STEEN
Director
Also active at: STEEN ELEKTRICITEIT, STEEN & VDK TECHNIEKEN, GLOBAL REX 2, LAPIS SOLAR
since 2015
since 2021
Establishments
Establishment units
Physical locations of this company
Provincieweg 55
8470 Gistel
Provincieweg 69
8470 Gistel
Active since 1 December 2015
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0643.747.824
- VAT number
- BE 0643.747.824
- Registered office
- Provincieweg 55, 8470 Gistel
- Names & denominations
- Canelo
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 December 2015
- Peppol
- Active · Active since 6 Jan 2026
- Activities · NACE
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