ACTIVE

LE CERF

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Financial year 2025 · closed on 30/06/2025

Net result

-11,9 k €

-716.4% YoY

Gross margin

56,4 k €

+39.2% YoY

Equity

52,6 k €

-18.5% YoY

What does LE CERF do?

LE CERF is a Private limited company incorporated in 2009. Its main activity is: Manufacture of bread; manufacture of fresh pastry goods and cakes. Its registered office is in Beloeil.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0809.137.574

Incorporation

16/01/2009

Legal form

Private limited company

Registered office

Rue des Prés (Bas) 5
7971 Beloeil · WallonieSee on map

Contributed capital

22 000,00 €

Latest accounts

30/06/2025

Activities (NACE)

10712Manufacture of bread; manufacture of fresh pastry goods and cakes· main 10712Manufacture of bread; manufacture of fresh pastry goods and cakes

Signals

Solid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	56,4 k €	+39.2%	40,5 k €	+31.3%	30,9 k €	-44.3%	55,5 k €	-28.1%	77,2 k €	-23.3%	100,6 k €	+20.3%	83,6 k €	+6.3%	78,6 k €	+71.3%	45,9 k €	-37.5%	73,4 k €	+16.6%	63 k €	+71.7%	36,7 k €	+20.6%	30,4 k €	-22.9%	39,4 k €	+23.9%	31,8 k €	-28.1%	44,3 k €
EBITDA	3,8 k €	-75.4%	15,6 k €	+116%	7,2 k €	+119%	3,3 k €	-81.1%	17,5 k €	-26.7%	23,8 k €	+0.8%	23,7 k €	+0.9%	23,4 k €	+128%	10,3 k €	-48.5%	20 k €	-10.8%	22,4 k €	+189%	7,7 k €	-54.2%	16,9 k €	-3.6%	17,5 k €	+126%	7,8 k €	+39.3%	5,6 k €
Operating result	-11,4 k €	-468%	3,1 k €	+219%	-2,6 k €	+13.4%	-3 k €	-127%	11,2 k €	-24.7%	14,8 k €	+18.9%	12,5 k €	-2.3%	12,8 k €	+1843%	-732 €	-108%	9,3 k €	-29.7%	13,2 k €	+736%	-2,1 k €	-139%	5,3 k €	-42.1%	9,2 k €	+1762%	-556 €	-286%	299,3 €
Net result	-11,9 k €	-716%	1,9 k €	+150%	-3,9 k €	+34.0%	-5,9 k €	-179%	7,4 k €	-47.7%	14,2 k €	+48.7%	9,6 k €	+7.1%	8,9 k €	+422%	-2,8 k €	-176%	3,7 k €	-68.1%	11,5 k €	+397%	-3,9 k €	-238%	2,8 k €	-41.1%	4,8 k €	+295%	-2,4 k €	-67.6%	-1,5 k €
Balance sheet
Equity	52,6 k €	-18.5%	64,5 k €	+3.1%	62,6 k €	-5.8%	66,4 k €	-8.1%	72,3 k €	+11.5%	64,9 k €	+28.1%	50,7 k €	+23.3%	41,1 k €	+27.8%	32,2 k €	-7.9%	34,9 k €	+11.7%	31,3 k €	+58.0%	19,8 k €	-16.3%	23,7 k €	+13.4%	20,9 k €	+29.5%	16,1 k €	-13.1%	18,5 k €
Total assets	129,5 k €	+15.5%	112,1 k €	+1.6%	110,3 k €	+17.1%	94,2 k €	-19.6%	117,3 k €	+19.4%	98,2 k €	+2.0%	96,3 k €	+7.0%	90 k €	+14.7%	78,5 k €	-18.8%	96,7 k €	+11.2%	87 k €	+15.4%	75,4 k €	-3.9%	78,4 k €	-9.9%	87,1 k €	-19.0%	107,5 k €	+3.0%	104,4 k €
Cash	3,7 k €	-63.0%	10 k €	+251%	2,8 k €	-9.1%	3,1 k €	-86.0%	22,3 k €	+168%	8,3 k €	-30.1%	11,9 k €	+273%	3,2 k €	+35300%	9 €	-92.2%	115 €	-60.1%	288 €	-90.9%	3,2 k €		–		1,9 k €	0.0%	1,9 k €	-96.3%	52,9 k €
Debts	76,9 k €	+61.6%	47,6 k €	-0.5%	47,8 k €	+71.8%	27,8 k €	-38.1%	45 k €	+34.9%	33,3 k €	-27.0%	45,7 k €	-6.6%	48,9 k €	+5.5%	46,3 k €	-16.5%	55,5 k €	-0.4%	55,7 k €	+0.2%	55,6 k €	+1.5%	54,8 k €	-17.3%	66,2 k €	-27.5%	91,4 k €	+6.5%	85,8 k €
Other
Workforce	–		–		–		–		2,0 ETP	-16.7%	2,4 ETP	+41.2%	1,7 ETP	+13.3%	1,5 ETP	+25.0%	1,2 ETP	0.0%	1,2 ETP	-29.4%	1,7 ETP	+13.3%	1,5 ETP	+114%	0,7 ETP	-22.2%	0,9 ETP	-25.0%	1,2 ETP	+9.1%	1,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 2 ended

Active mandates

Paule Vander Borght

Manager · since 16 janvier 2009

Active

Ended mandates

Paule VANDER BORGHT

Manager · since 01 janvier 2009

Ended

Paule Vander Borght

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/02/2026	21/02/2025	11/03/2024	31/03/2023	03/02/2022	02/02/2021
General meeting	03/10/2025	04/10/2024	06/10/2023	07/10/2022	01/10/2021	02/10/2020
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/06/2025	03/10/2025	27/02/2026	French	PDF
Micro model	30/06/2024	04/10/2024	21/02/2025	French	PDF
Micro model	30/06/2023	06/10/2023	11/03/2024	French	PDF
Micro model	30/06/2022	07/10/2022	31/03/2023	French	PDF
Abridged model	30/06/2021	01/10/2021	03/02/2022	French	PDF
Abridged model	30/06/2020	02/10/2020	02/02/2021	French	PDF
Abridged model	30/06/2019	04/10/2019	31/01/2020	French	PDF
Abridged model	30/06/2018	05/10/2018	31/01/2019	French	PDF
Abridged model	30/06/2017	06/10/2017	05/12/2017	French	PDF
Abridged model	30/06/2016	07/10/2016	30/01/2017	French	PDF
Abridged model	30/06/2015	05/12/2015	29/01/2016	French	PDF
Abridged model	30/06/2014	05/12/2014	30/01/2015	French	PDF
Abridged model	30/06/2013	31/10/2013	07/01/2014	French	PDF
Abridged model	30/06/2012	30/11/2012	11/09/2013	French	PDF
Abridged model	30/06/2011	28/11/2011	11/09/2013	French	PDF
Abridged model	30/06/2010	29/10/2010	26/11/2010	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 30/06/2025 · 1 active · 2 ended

Active mandates

Paule Vander Borght

Manager · since 16 janvier 2009

Active

Ended mandates

Paule VANDER BORGHT

Manager · since 01 janvier 2009

Ended

Paule Vander Borght

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - OBJET - DEMISSIONS, NOMINATIONS
PDF
Other30/01/2009
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025-11,9 k €↓
2024
Annual accounts 20241,9 k €↑
2023
Annual accounts 2023-3,9 k €↑
2022
Annual accounts 2022-5,9 k €↓
2021
Annual accounts 20217,4 k €↓
2020
Annual accounts 202014,2 k €↑
2019
Annual accounts 20199,6 k €↑
2018
Annual accounts 20188,9 k €↑
2017
Annual accounts 2017-2,8 k €↓
2016
Annual accounts 20163,7 k €↓
2015
Annual accounts 201511,5 k €↑
2014
Annual accounts 2014-3,9 k €↓
2013
Annual accounts 20132,8 k €↓
2012
Annual accounts 20124,8 k €↑
2011
Annual accounts 2011-2,4 k €↓
2010
Annual accounts 2010-1,5 k €
16/01/2009
IncorporationPrivate 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

LE CERF

Overview

What does LE CERF do?

Trend over 16 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