ACTIVE

C.E.L.

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Financial year 2025 · closed on 31/12/2025

Net result

265,8 k €

-37.7% YoY

Gross margin

401,1 k €

-3.1% YoY

Equity

8,8 M €

+3.1% YoY

Workforce

0,0 ETP

What does C.E.L. do?

C.E.L. is a Public limited company incorporated in 1992. Its registered office is in Roeselare.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.542.360

Incorporation

27/05/1992

Legal form

Public limited company

Registered office

Brugsesteenweg 264b
8800 Roeselare · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	401,1 k €	-3.1%	414,1 k €	-66.3%	1,2 M €	+2.2%	1,2 M €	-9.1%	1,3 M €	+11.8%	1,2 M €	+8.2%	1,1 M €	+27.1%	861,1 k €	+1.0%	852,9 k €	+1.4%	841,1 k €	-1.5%	854,1 k €	+53.5%	556,5 k €	-48.7%	1,1 M €	-6.2%	1,2 M €	+5.1%	1,1 M €	-0.4%	1,1 M €	-10.6%	1,2 M €	+0.5%	1,2 M €
EBITDA	334,6 k €	-5.7%	354,8 k €	-64.4%	996,8 k €	-1.8%	1 M €	-9.8%	1,1 M €	+8.9%	1 M €	+10.3%	936,4 k €	+29.8%	721,3 k €	+2.0%	707 k €	-0.0%	707,1 k €	-3.1%	729,5 k €	+69.8%	429,5 k €	-55.1%	957,3 k €	+51.0%	633,9 k €	+12.3%	564,3 k €	-2.5%	579 k €	-18.1%	707,1 k €	-0.1%	707,9 k €
Operating result	236,2 k €	+0.3%	235,4 k €	-62.4%	625,6 k €	-2.0%	638,2 k €	-13.6%	739,1 k €	-1.1%	747,1 k €	+20.6%	619,5 k €	+39.2%	445 k €	+0.8%	441,6 k €	+18.4%	372,8 k €	+0.9%	369,3 k €	+202%	122,4 k €	-50.5%	247,3 k €	-28.0%	343,5 k €	+30.1%	264,1 k €	-21.6%	336,7 k €	-26.4%	457,7 k €	-2.2%	468 k €
Net result	265,8 k €	-37.7%	426,6 k €	-21.8%	545,7 k €	+8.6%	502,3 k €	-3.2%	518,7 k €	+9.3%	474,7 k €	-3.3%	490,8 k €	+81.3%	270,7 k €	+12.7%	240,3 k €	-39.2%	395,3 k €	+6.5%	371,1 k €	+96.1%	189,3 k €	-45.5%	347,5 k €	-36.8%	549,4 k €	+72.1%	319,2 k €	-24.4%	422,5 k €	+25.9%	335,7 k €	-30.6%	483,6 k €
Balance sheet
Equity	8,8 M €	+3.1%	8,5 M €	-41.0%	14,4 M €	+3.9%	13,9 M €	+3.8%	13,4 M €	+11.9%	11,9 M €	+4.1%	11,5 M €	+1.6%	11,3 M €	+2.5%	11 M €	+2.2%	10,8 M €	+3.8%	10,4 M €	+3.7%	10 M €	+1.9%	9,8 M €	+3.7%	9,5 M €	+6.2%	8,9 M €	+3.7%	8,6 M €	+5.4%	8,2 M €	+3.5%	7,9 M €
Total assets	9 M €	+3.0%	8,8 M €	-40.5%	14,7 M €	+3.7%	14,2 M €	+3.0%	13,8 M €	+11.6%	12,3 M €	+1.4%	12,2 M €	+4.3%	11,7 M €	+5.7%	11 M €	+1.9%	10,8 M €	+3.6%	10,5 M €	+0.0%	10,4 M €	-7.1%	11,2 M €	+17.5%	9,6 M €	+5.5%	9,1 M €	+3.9%	8,7 M €	+3.5%	8,4 M €	+2.0%	8,3 M €
Cash	4,1 M €	+7.9%	3,8 M €	+64.1%	2,3 M €	+62.3%	1,4 M €	+56.1%	914 k €	+47.7%	618,8 k €	+500%	103,2 k €	-87.2%	808,5 k €	-33.0%	1,2 M €	-68.7%	3,9 M €	+22.9%	3,1 M €	-3.2%	3,2 M €	-17.9%	3,9 M €	-2.9%	4,1 M €	+5.3%	3,9 M €	-5.2%	4,1 M €	+148%	1,6 M €	+7.4%	1,5 M €
Debts	39 k €	+81.4%	21,5 k €	-48.7%	41,9 k €	-32.0%	61,6 k €	-54.3%	135 k €	+475%	23,5 k €	-93.7%	374,1 k €	+1236%	28 k €	+20.8%	23,2 k €	-18.4%	28,4 k €	+15.3%	24,6 k €	+53.0%	16,1 k €	-98.9%	1,4 M €	+1381%	95,8 k €	-32.8%	142,7 k €	+10.6%	129,1 k €	-38.9%	211,2 k €	-5.3%	222,9 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		0,4 ETP	-97.0%	13,5 ETP	-0.7%	13,6 ETP	+5.4%	12,9 ETP	-1.5%	13,1 ETP	-2.2%	13,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 23 ended

Active mandates

CONNY CNUDDE

Managing director · until 07 juin 2027

Active

EMILIA RAMBOER

Managing director · until 07 juin 2027

Active

LAURA RAMBOER

Managing director · until 07 juin 2027

Active

Ended mandates

Conny CNUDDE

Director · since 07 juin 2021 · until 07 juin 2027

Ended

EMILIA RAMBOER

Director · since 07 juin 2021 · until 07 juin 2027

Ended

LAURA RAMBOER

Director · since 07 juin 2021 · until 07 juin 2027

Ended

Conny CNUDDE

Chairman of the board of directors · since 13 février 2015 · until 01 juin 2020

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	30/09/2025	29/07/2024	25/09/2023	08/07/2022	29/07/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	06/06/2022	07/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	01/06/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2024	02/06/2025	30/09/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	29/07/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	25/09/2023	Dutch	PDF
Abridged model	31/12/2021	06/06/2022	08/07/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	29/07/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	26/10/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	29/07/2019	Dutch	PDF
Abridged model	31/12/2017	04/06/2018	27/07/2018	Dutch	PDF
Abridged model	31/12/2016	06/06/2017	11/07/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	29/08/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	03/07/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	17/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	22/06/2009	30/07/2009	Dutch	PDF
Abridged model	31/12/2007	14/07/2008	29/07/2008	Dutch	PDF
Abridged model	31/12/2006	06/08/2007	21/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 23 ended

Active mandates

CONNY CNUDDE

Managing director · until 07 juin 2027

Active

EMILIA RAMBOER

Managing director · until 07 juin 2027

Active

LAURA RAMBOER

Managing director · until 07 juin 2027

Active

Ended mandates

Conny CNUDDE

Director · since 07 juin 2021 · until 07 juin 2027

Ended

EMILIA RAMBOER

Director · since 07 juin 2021 · until 07 juin 2027

Ended

LAURA RAMBOER

Director · since 07 juin 2021 · until 07 juin 2027

Ended

Conny CNUDDE

Chairman of the board of directors · since 13 février 2015 · until 01 juin 2020

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring13/05/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Restructuring14/06/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates20/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Other24/01/2018
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/04/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/01/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2006
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025265,8 k €↓
2024
Annual accounts 2024426,6 k €↓
2023
Annual accounts 2023545,7 k €↑
2022
Annual accounts 2022502,3 k €↓
2021
Annual accounts 2021518,7 k €↑
2018
Annual accounts 2018474,7 k €↓
2017
Annual accounts 2017490,8 k €↑
2016
Annual accounts 2016270,7 k €↑
2015
Annual accounts 2015240,3 k €↓
2014
Annual accounts 2014395,3 k €↑
2013
Annual accounts 2013371,1 k €↑
2012
Annual accounts 2012189,3 k €↓
2011
Annual accounts 2011347,5 k €↓
2010
Annual accounts 2010549,4 k €↑
2009
Annual accounts 2009319,2 k €↓
2008
Annual accounts 2008422,5 k €↑
2007
Annual accounts 2007335,7 k €↓
2006
Annual accounts 2006483,6 k €
27/05/1992
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

C.E.L.

Overview

What does C.E.L. do?

Trend over 18 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline