NORMAL SITUATION

CF-System

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Financial year 2025 · closed on 31/12/2025
Net result
33,7 k €
+7.7% YoY
Gross margin
50,9 k €
+48.8% YoY
Equity
424,4 k €
+8.6% YoY
Workforce
0,0 ETP

Company — Normal situation.

Strike-off: 18 août 2026

What does CF-System do?

CF-System is a Public limited company incorporated in 2014.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0546.854.920
Incorporation
25/02/2014
Legal form
Public limited company
Contributed capital
201 504,01 €
Latest accounts
31/12/2025
Average workforce
0,0 ETP
Joint committees (1)
  • 200
Signals
ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 11 financial years

20252024202320222021202020192018201720162015
Income statement
Gross margin50,9 k €34,2 k €62,7 k €-118,8 k €94,9 k €905,5 k €-6,4 k €13 k €-28,6 k €-58,2 k €-11,8 k €
EBITDA46,6 k €31,8 k €62,2 k €-119,2 k €94,4 k €878,7 k €-60,3 k €-39,1 k €-84,4 k €-158,4 k €-18,9 k €
Operating result46,6 k €31,8 k €62,2 k €-119,2 k €93,6 k €776,8 k €-162,1 k €-140,2 k €-181,8 k €-254,3 k €-23,8 k €
Net result33,7 k €31,3 k €63,3 k €-113,9 k €106,8 k €779,8 k €-149,1 k €-120,4 k €-149,4 k €-221,6 k €-37,5 k €
Balance sheet
Equity424,4 k €390,7 k €359,4 k €296,1 k €410,1 k €303,3 k €-436,9 k €-248,1 k €-88,1 k €-81,9 k €131,1 k €
Total assets446,7 k €393,6 k €362,8 k €320,2 k €522,6 k €437,6 k €151,8 k €245,5 k €350,6 k €386,1 k €576,1 k €
Cash88,1 k €51,3 k €51,1 k €114,9 k €154,2 k €239,3 k €5,9 k €4,6 k €54,8 k €3,7 k €72,9 k €
Debts22,3 k €2,9 k €3,4 k €24,1 k €112,5 k €134,3 k €588,7 k €493,7 k €438,7 k €468,1 k €445 k €
Other
Workforce0,0 ETP0,0 ETP0,0 ETP––0,5 ETP0,5 ETP0,5 ETP0,5 ETP1,0 ETP0,1 ETP
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 25 ended

Active mandates

Hospidex Group

Director · since 17 décembre 2025 · until 17 décembre 2031 · 0764.882.018

Represented by Bart Cauberghe

Active
CLEAR ROUND

Director · 0783.405.058

Represented by Jean Marc Mahieu

Active

Ended mandates

Hospidex Group

Director · since 03 mai 2023 · 0764.882.018

Represented by Francis Gielen

Ended
HBJS

Director · since 21 octobre 2020 · 0756.642.362

Represented by Jean Schoevaerts

Ended
Jean Schoevaerts

Director · since 01 janvier 2020 · until 25 mai 2020

Ended
VANINVEST

Chairman of the board of directors · since 01 janvier 2020 · until 25 mai 2020 · 0466.997.887

Represented by Julie Vandeputte

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date26/06/202610/06/202511/07/202408/06/202328/07/202229/07/2021
General meeting26/05/202627/05/202528/06/202426/05/202330/06/202230/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

11 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202526/05/202626/06/2026DutchPDF
Abridged model31/12/202427/05/202510/06/2025DutchPDF
Abridged model31/12/202328/06/202411/07/2024DutchPDF
Abridged model31/12/202226/05/202308/06/2023DutchPDF
Abridged model31/12/202130/06/202228/07/2022DutchPDF
Abridged model31/12/202030/06/202129/07/2021DutchPDF
Abridged model31/12/201926/05/202008/06/2020DutchPDF
Abridged model31/12/201828/05/201904/06/2019DutchPDF
Abridged model31/12/201729/05/201808/06/2018DutchPDF
Abridged model31/12/201626/05/201720/06/2017DutchPDF
Abridged model31/12/201527/05/201629/06/2016DutchPDF
Estimate

Indicative valuation

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 · 2 active · 25 ended

Active mandates

Hospidex Group

Director · since 17 décembre 2025 · until 17 décembre 2031 · 0764.882.018

Represented by Bart Cauberghe

Active
CLEAR ROUND

Director · 0783.405.058

Represented by Jean Marc Mahieu

Active

Ended mandates

Hospidex Group

Director · since 03 mai 2023 · 0764.882.018

Represented by Francis Gielen

Ended
HBJS

Director · since 21 octobre 2020 · 0756.642.362

Represented by Jean Schoevaerts

Ended
Jean Schoevaerts

Director · since 01 janvier 2020 · until 25 mai 2020

Ended
VANINVEST

Chairman of the board of directors · since 01 janvier 2020 · until 25 mai 2020 · 0466.997.887

Represented by Julie Vandeputte

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Restructuring26/08/2026
    MET FUSIE DOOR OVERNEMING GELIJKGESTELDE VERRICHTING
    PDF
  • Restructuring15/06/2026
    RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ... - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates30/01/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares28/03/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DOEL - KAPITAAL - AANDELEN
    PDF
  • Mandates01/06/2023
    MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates05/11/2020
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office24/07/2020
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates19/06/2020
    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

Timeline

  1. 2025
    Annual accounts 202533,7 k €↑
  2. 2024
    Annual accounts 202431,3 k €↓
  3. 2023
    Annual accounts 202363,3 k €↑
  4. 2022
    Annual accounts 2022-113,9 k €↓
  5. 2021
    Annual accounts 2021106,8 k €↓
  6. 2020
    Annual accounts 2020779,8 k €↑
  7. 2019
    Annual accounts 2019-149,1 k €↓
  8. 2018
    Annual accounts 2018-120,4 k €↑
  9. 2017
    Annual accounts 2017-149,4 k €↑
  10. 2016
    Annual accounts 2016-221,6 k €↓
  11. 2015
    Annual accounts 2015-37,5 k €
  12. 25/02/2014
    IncorporationPublic limited company