ACTIVE

CMS

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Financial year 2025 · closed on 30/06/2025

Net result

-3,8 k €

+50.0% YoY

Gross margin

-7,6 k €

-1.7% YoY

Equity

184,8 k €

-2.0% YoY

What does CMS do?

CMS is a Private company with limited liability incorporated in 2004. Its main activity is: Management consultancy activities. Its registered office is in Sint-Niklaas.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0866.962.640

Incorporation

27/08/2004

Legal form

Private company with limited liability

Registered office

Molendreef 35
9111 Sint-Niklaas · FlandreSee on map

Contributed capital

182 400,00 €

Latest accounts

30/06/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

Solid equityLow riskGood liquidity

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-7,6 k €	-1.7%	-7,4 k €	+6.6%	-7,9 k €	+22.2%	-10,2 k €	+4.0%	-10,6 k €	+48.0%	-20,4 k €	-28.3%	-15,9 k €	-330%	6,9 k €	-72.8%	25,5 k €	-28.2%	35,6 k €	-68.4%	112,6 k €	+222%	34,9 k €	+392%	7,1 k €	+3011%	-243,6 €	-102%	15,7 k €	+9.3%	14,4 k €	-25.2%	19,2 k €	+104%	9,4 k €	+77.7%	5,3 k €
EBITDA	-7,9 k €	-1.8%	-7,8 k €	+6.6%	-8,3 k €	+21.0%	-10,5 k €	+4.3%	-11,0 k €	+47.3%	-20,8 k €	-17.5%	-17,7 k €	-367%	6,6 k €	-73.6%	25,1 k €	-28.6%	35,2 k €	-68.6%	112,0 k €	+285%	29,1 k €	+364%	6,3 k €	+470%	-1,7 k €	-113%	12,9 k €	-5.4%	13,6 k €	-24.7%	18,0 k €	+103%	8,9 k €	+78.4%	5,0 k €
Operating result	-7,9 k €	-1.8%	-7,8 k €	+52.9%	-16,5 k €	+11.8%	-18,7 k €	+2.5%	-19,2 k €	+34.9%	-29,4 k €	-6.9%	-27,5 k €	-664%	4,9 k €	-72.1%	17,5 k €	-39.2%	28,7 k €	-72.9%	106,0 k €	+222%	33,0 k €	+494%	5,5 k €	+148%	-11,5 k €	-3327%	-336,9 €	-101%	-168,0 €	-101%	14,7 k €	+1336%	-1,2 k €	-127%	4,3 k €
Net result	-3,8 k €	+50.0%	-7,7 k €	+49.4%	-15,2 k €	+19.3%	-18,8 k €	+2.1%	-19,2 k €	+34.9%	-29,6 k €	-6.7%	-27,7 k €	-905%	3,4 k €	-71.4%	12,1 k €	-44.4%	21,7 k €	-70.2%	72,9 k €	+234%	21,8 k €	+637%	3,0 k €	+125%	-11,7 k €	-234%	-3,5 k €	-66.0%	-2,1 k €	-121%	10,0 k €	+744%	-1,5 k €	-151%	3,0 k €
Balance sheet
Equity	184,8 k €	-2.0%	188,7 k €	-3.9%	196,4 k €	-7.2%	211,6 k €	-8.2%	230,4 k €	-7.7%	249,6 k €	-10.6%	279,2 k €	-9.0%	306,9 k €	+1.1%	303,5 k €	+4.1%	291,4 k €	+8.0%	269,7 k €	+903%	26,9 k €	+429%	5,1 k €	+139%	2,1 k €	-84.6%	13,8 k €	-27.0%	18,9 k €	-16.4%	22,6 k €	+58.8%	14,2 k €	-9.8%	15,8 k €
Total assets	228,3 k €	-1.6%	232,1 k €	-2.7%	238,6 k €	-7.6%	258,3 k €	-8.3%	281,6 k €	-10.0%	313,0 k €	-12.8%	359,0 k €	-10.4%	400,4 k €	+14.6%	349,5 k €	+0.5%	347,7 k €	+7.2%	324,5 k €	+541%	50,6 k €	+155%	19,8 k €	+43.3%	13,8 k €	-54.1%	30,2 k €	-45.3%	55,1 k €	+41.6%	39,0 k €	+11.2%	35,0 k €	+70.1%	20,6 k €
Cash	73,3 k €	-5.0%	77,2 k €	-37.3%	123,1 k €	-15.9%	146,4 k €	-8.0%	159,2 k €	-13.2%	183,4 k €	-14.6%	214,9 k €	-5.0%	226,3 k €	+36.8%	165,5 k €	+6.5%	155,3 k €	+12.4%	138,2 k €	+415%	26,9 k €	+309%	6,6 k €	+268%	1,8 k €	-21.1%	2,3 k €	+2.8%	2,2 k €	-87.5%	17,6 k €	+571%	2,6 k €	-55.1%	5,8 k €
Debts	43,5 k €	+0.5%	43,3 k €	+2.6%	42,2 k €	-9.4%	46,6 k €	-8.1%	50,7 k €	-19.4%	63,0 k €	-17.7%	76,6 k €	-17.7%	93,0 k €	+110%	44,4 k €	-14.9%	52,1 k €	+4.0%	50,1 k €	+150%	20,0 k €	+35.8%	14,8 k €	+25.9%	11,7 k €	-28.6%	16,4 k €	-54.7%	36,3 k €	+122%	16,4 k €	-21.3%	20,8 k €	+332%	4,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 3 ended

Active mandates

MIGUEL CALEWAERT

Mandate

Active

Ended mandates

MICHEL CALEWAERT

Manager

Ended

MIGUEL CALEWAERT

Director

Ended

MIGUEL CALEWAERT

Manager

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	01/07/2024	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	30/01/2026	31/01/2025	30/01/2024	23/12/2022	28/12/2021	30/12/2020
General meeting	31/12/2025	31/12/2024	31/12/2023	30/11/2022	30/11/2021	30/11/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	31/12/2025	30/01/2026	Dutch	PDF
Abridged model	30/06/2024	31/12/2024	31/01/2025	Dutch	PDF
Abridged model	30/06/2023	31/12/2023	30/01/2024	Dutch	PDF
Abridged model	30/06/2022	30/11/2022	23/12/2022	Dutch	PDF
Abridged model	30/06/2021	30/11/2021	28/12/2021	Dutch	PDF
Abridged model	30/06/2020	30/11/2020	30/12/2020	Dutch	PDF
Abridged model	30/06/2019	30/11/2019	31/12/2019	Dutch	PDF
Abridged model	30/06/2018	30/11/2018	21/12/2018	Dutch	PDF
Abridged model	30/06/2017	30/11/2017	29/12/2017	Dutch	PDF
Abridged model	30/06/2016	30/11/2016	28/12/2016	Dutch	PDF
Abridged model	30/06/2015	30/11/2015	29/12/2015	Dutch	PDF
Abridged model	31/12/2013	16/06/2014	03/07/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	25/06/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	16/07/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	20/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	23/06/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	17/07/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	23/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	17/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 3 ended

Active mandates

MIGUEL CALEWAERT

Mandate

Active

Ended mandates

MICHEL CALEWAERT

Manager

Ended

MIGUEL CALEWAERT

Director

Ended

MIGUEL CALEWAERT

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office13/05/2026
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares21/10/2014
BENAMING - DOEL - KAPITAAL - AANDELEN - ALGEMENE VERGADERING - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates12/05/2005
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/11/2004
ONTSLAGEN - BENOEMINGEN
PDF
Other06/09/2004
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025-3,8 k €↑
2025
Name changeCALEWAERT MANAGEMENT SERVICES
2024
Annual accounts 2024-7,7 k €↑
2023
Annual accounts 2023-15,2 k €↑
2022
Annual accounts 2022-18,8 k €↑
2022
Name changeCMS
2021
Annual accounts 2021-19,2 k €↑
2020
Annual accounts 2020-29,6 k €↓
2019
Annual accounts 2019-27,7 k €↓
2018
Annual accounts 20183,4 k €↓
2017
Annual accounts 201712,1 k €↓
2016
Annual accounts 201621,7 k €↓
2015
Annual accounts 201572,9 k €↑
2013
Annual accounts 201321,8 k €↑
2012
Annual accounts 20123,0 k €↑
2011
Annual accounts 2011-11,7 k €↓
2010
Annual accounts 2010-3,5 k €↓
2009
Annual accounts 2009-2,1 k €↓
2008
Annual accounts 200810,0 k €↑
2007
Annual accounts 2007-1,5 k €↓
2006
Annual accounts 20063,0 k €
27/08/2004
IncorporationPrivate company with limited liability

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

CMS

Overview

What does CMS do?

Trend over 19 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