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 1 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 14 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
27 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
DW Cefaly Holding from Liège, company number BE0725837241, closed financial year 2025 with a result of € -29.6 million after tax. Compared with financial year 2024, the result moved from € -127,162 to € -29.6 million. 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 October 19, 2026.
€ -399,673
▼ € 29.6 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -29.6 million
▼ 23181 % more loss than in 2024
Profit after tax over the fiscal year.
€ 3,645
▼ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -36.5 million.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 13,753
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 75 days on average.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -195,623 | € -106,578 | € -127,162 | € -29,605,099 | ▼ € 29.5 million |
| Equity | € 29,439,166 | € 29,332,587 | € 29,205,426 | € -399,673 | ▼ € 29.6 million |
| Total debts | € 343,847 | € 350,514 | € 378,653 | € 463,897 | ▲ 23% |
| Cash | € 6,200 | € 5,925 | € 4,196 | € 3,645 | ▼ 13% |
| Retained profit | € -6,657,812 | € -6,764,390 | € -6,891,552 | € -36,496,651 | ▼ € 29.6 million |
| Balance sheet total | € 29,907,936 | € 29,867,988 | € 29,866,259 | € 64,224 | ▼ € 29.8 million |
Key figures of DW Cefaly Holding, 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 DW Cefaly Holding?
What happened at DW Cefaly Holding in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 29.6 million. filed late Source: NBB ↗
- Brenda Pei-Lin Yang became a director. NBB
- Luke Christopher Duster became a director. NBB
- Andrew Page became a director. NBB
- Gabriel Becher became a director. NBB
- Andrew Carragher became a director. NBB
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 195,623 loss in 2022 to € 29.6 million loss in 2025.
Paid € 14,579 in corporate taxes since 2022.
Pays suppliers within 75 days on average.
Management
Behind DW Cefaly Holding are Brenda Pei-Lin Yang, Andrew Page, Gabriel Becher, Andrew Carragher and Luke Christopher Duster. It owns 100% of DW Intermediate Luxco Company S.a.r.l itself.
Directors
According to the 2025 annual accounts
Brenda Pei-Lin Yang
Director
since 2026
since 2025
since 2019
Andrew Carragher
Director
since 2019
Luke Christopher Duster
Director
since 2026
Establishments
Establishment units
Physical locations of this company
Boulevard de Patience et Beaujonc 3
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 27 companies are registered at this address.
All companies at this address →EYED PHARMA
€ 10.5 million revenue · 2025
Hyloris Developments
€ 5.1 million revenue · 2025
ONCORADIOMICS
€ 2.4 million gross margin · 2025
DERMAX
€ 1.6 million revenue · 2025
Hyloris
€ 384,852 revenue · 2025
+22 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
- 0725.837.241
- VAT number
- BE 0725.837.241
- Registered office
- Boulevard de Patience et Beaujonc 3, 4000 Liège
- Names & denominations
- DW Cefaly Holding · DW Cefaly
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 29 April 2019
- Peppol
- Active · Active since 1 Jan 2001