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 43 % of short-term debt in 2025; threshold 65 %.
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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
CGM 48 from Blégny, company number BE0753730283, closed financial year 2025 with a result of € -2,131 after tax. For that financial year CGM 48 recorded a gross margin of € 34,214 and equity of € -45,776. Compared with financial year 2024, the result moved from € -7,884 to € -2,131. 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 6, 2026.
€ -45,776
▼ € 2,131 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2,131
▲ 73 % less loss than in 2024
Profit after tax over the fiscal year.
€ 10,228
▲ 74% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -55,976.
People and assets in 2025
€ 5,038
▼ 14% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 376,437
▼ 6% vs 2024
€ 22,989 is repaid this year. At this pace the long-term loan is gone in ≈ 16 years.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 26,364 | € 24,962 | € 29,035 | € 34,214 | ▲ 18% |
| Profit after taxes | € -10,097 | € -11,793 | € -7,884 | € -2,131 | ▲ € 5,753 |
| Equity | € -23,967 | € -35,760 | € -43,645 | € -45,776 | ▼ € 2,131 |
| Total debts | € 646,289 | € 637,676 | € 622,133 | € 604,008 | ▼ 3% |
| Cash | € 1,422 | € 2,547 | € 5,862 | € 10,228 | ▲ 74% |
| Land & buildings | € 613,760 | € 589,778 | € 564,314 | € 538,851 | ▼ 5% |
| Retained profit | € -34,167 | € -45,960 | € -53,845 | € -55,976 | ▼ € 2,131 |
| Bank debt | € 443,747 | € 421,583 | € 399,148 | € 376,437 | ▼ 6% |
| Balance sheet total | € 622,321 | € 601,915 | € 578,489 | € 558,232 | ▼ 4% |
Key figures of CGM 48, 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 CGM 48?
What happened at CGM 48 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 2,131. Source: NBB ↗
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 10,097 loss in 2022 to € 2,131 loss in 2025.
Management
Behind CGM 48 are LIONEL GYSEN and Mathieu MANNESBERG. LIONEL GYSEN is also behind B&G. Mathieu MANNESBERG is also behind IMMOHERVE, JGMM, LFO INVEST and HENOVA.
Directors
According to the 2025 annual accounts
Establishments
Establishment units
Physical locations of this company
Rue de Heuseux 32
4671 Blégny
Bld Emile-de-Laveleye 48
4020 Liège
Active since 7 September 2020
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0753.730.283
- VAT number
- BE 0753.730.283
- Registered office
- Rue de Heuseux 32, 4671 Blégny
- Names & denominations
- CGM 48
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 7 September 2020
- Peppol
- Not registered