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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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
HOLDING CIS from Brussel, company number BE0811480125, closed financial year 2025 with a result of € -9,431 after tax. Compared with financial year 2024, the result moved from € -9,348 to € -9,431. 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 April 28, 2026.
€ -51,456
▼ € 9,431 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -9,431
▼ 1 % more loss than in 2024
Profit after tax over the fiscal year.
€ 9,537
▼ 43% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -17.7 million.
Debts at end 2025
€ 55,697
▲ 4% vs 2024
Loans from banks and other lenders, long and short.
€ 4,800
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -19,483,145 | € -8,767 | € -9,348 | € -9,431 | ▼ € 83 |
| Equity | € -23,910 | € -32,677 | € -42,025 | € -51,456 | ▼ € 9,431 |
| Total debts | € 30,813 | € 54,778 | € 58,710 | € 60,993 | ▲ 4% |
| Cash | € 6,903 | € 22,101 | € 16,685 | € 9,537 | ▼ 43% |
| Retained profit | € -17,645,965 | € -17,654,732 | € -17,664,080 | € -17,673,511 | |
| Bank debt | € 25,127 | € 50,865 | € 53,542 | € 55,697 | ▲ 4% |
| Balance sheet total | € 6,903 | € 22,101 | € 16,685 | € 9,537 | ▼ 43% |
Key figures of HOLDING CIS, 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 HOLDING CIS?
What happened at HOLDING CIS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 9,431. Source: NBB ↗
- Nadezhda Znak stepped down as director. NBB
- Aleksey Ilyushchenko stepped down as director. NBB
- Dirk Terweduwe stepped down as director. NBB
- Ronny Matton stepped down as director. NBB
- Frank Vanwingh stepped down as director. NBB
- Stefaan Van Boxstael stepped down as director. NBB
- New establishment in Brussel. KBO
In short
From € 19.5 million loss in 2022 to € 9,431 loss in 2025.
Paid € 72 in corporate taxes since 2022.
Management
The shares are held by DUCROIRE (67%) and JSC INWEST-POLICY (33%). It owns 100% of PROTECTA TRADE INSURANCE LLC itself.
Directors
According to the 2025 annual accounts
Nadezhda Znak
Director
· until 2026
Aleksey Ilyushchenko
Director
· until 2026
Dirk Terweduwe
Director
· until 2026
Ronny Matton
Director
· until 2026
Frank Vanwingh
Director
· until 2026
Stefaan Van Boxstael
Director
· until 2026
Shareholders
67%
JSC INWEST-POLICY
33%
Participations
PROTECTA TRADE INSURANCE LLC
100%
Establishments
Establishment units
Physical locations of this company
Montoyerstraat 3
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →Delcredere same network
Chenex
IMMO MONTOYER
€ 4.7 million revenue · 2025
Credendo Group
AGENTSCHAP VOOR BUITENLANDSE HANDEL
+1 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
- 0811.480.125
- VAT number
- BE 0811.480.125
- Registered office
- Montoyerstraat 3, 1000 Brussel
- Names & denominations
- HOLDING CIS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 April 2009
- Peppol
- Not registered