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 35 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
CYGES from Olne, company number BE0688552718, closed financial year 2026 with a result of € 150,130 after tax. For that financial year CYGES recorded a gross margin of € 297,389 and equity of € 401,164. Compared with financial year 2025, the result moved from € 151,364 to € 150,130. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 5, 2026.
€ 401,164
▲ 5% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 150,130
▼ 1% vs 2025
Profit after tax over the fiscal year.
€ 159,726
▲ 18% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 130,000 paid out
87 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2026
€ 19,259
▼ 34% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 783,123
▼ 13% vs 2025
€ 102,680 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 4,421
▼ 22% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 17,134
▼ 10% vs 2025
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 365,871 | € 282,577 | € 301,354 | € 297,389 | ▼ 1% |
| Profit after taxes | € 223,433 | € 152,525 | € 151,364 | € 150,130 | ▼ 1% |
| Equity | € 110,345 | € 262,869 | € 381,034 | € 401,164 | ▲ 5% |
| Total debts | € 1,520,963 | € 1,355,446 | € 1,266,718 | € 1,221,046 | ▼ 4% |
| Cash | € 160,042 | € 72,756 | € 135,150 | € 159,726 | ▲ 18% |
| Land & buildings | € 542,468 | € 550,687 | € 534,522 | € 496,535 | ▼ 7% |
| Retained profit | € 20,345 | € 172,869 | € 31,034 | € 51,164 | ▲ 65% |
| Dividend | € 324,000 | € 0 | € 293,200 | € 130,000 | ▼ 56% |
| Bank debt | € 1,108,297 | € 1,019,897 | € 902,840 | € 783,123 | ▼ 13% |
| Balance sheet total | € 1,631,308 | € 1,618,315 | € 1,647,752 | € 1,622,210 | ▼ 2% |
Key figures of CYGES, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to CYGES?
What happened at CYGES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 150,130 (▼ 1% vs 2025). Source: NBB ↗
- New establishment in Olne. KBO
- Start of the company according to the CBE. KBO
In short
From € 223,433 profit in 2023 to € 150,130 profit in 2026.
Paid € 229,647 in corporate taxes since 2023.
Best year ever: 2023, with € 223,433 profit.
Paid out € 747,200 in dividends to the owners in total.
Management
Behind CYGES is Marc DELSEMME. It owns 16.7% of ARTIS VISIONARIA itself.
Directors
According to the 2026 annual accounts
Establishments
Establishment units
Physical locations of this company
Chemin du Moulin 5
4877 Olne
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0688.552.718
- VAT number
- BE 0688.552.718
- Registered office
- Chemin du Moulin 5, 4877 Olne
- Names & denominations
- CYGES
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 17 January 2018
- Peppol
- Active · Active since 12 Sept 2025
- Activities · NACE
Activiteiten van holdings
Holdings