BE-SF
ActiveSummary
BE-SF has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,822 and a net result of €81,717. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 7114 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+29
Solvency36▲+36
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.39 against 0.57 in 2024; short-term debt: 70.4% of total assets), and 89.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
10.8%
Return on assets
55.7%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 7114 sector peers (2025).
NBB · sector comparisonPosition among 7114 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-03-2026, 149 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
149 d early
2024
56 d early
2023
61 d early
2022
67 d early
2021
59 d early
2020
51 d early
2019
3 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 63 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 1 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€15,822
2024 · -€65,895
Total assets
€146,644▲ 141%
2024 · €60,870
Net result
€81,717▲ 462%
2024 · €14,545
Working capital
€40,478
2024 · -€40,886
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€22,783▲ 101%€8,481▼ 62.8%-€110,429€27,567€88,472▲ 221%
Net result€20,326within the sector's middle half▲ 206%€9,833within the sector's middle half▼ 51.6%-€122,495below the sector's middle half€14,545within the sector's middle half€81,717above the sector's middle half▲ 462%
Equity€31,072within the sector's middle half▲ 189%€53,306within the sector's middle half▲ 71.6%-€80,440below the sector's middle half-€65,895below the sector's middle half▲ 18.1%€15,822within the sector's middle half
Total assets€118,621within the sector's middle half▲ 81.3%€224,211within the sector's middle half▲ 89.0%€136,493within the sector's middle half▼ 39.1%€60,870within the sector's middle half▼ 55.4%€146,644within the sector's middle half▲ 141%
Debt€87,548▲ 60.2%€170,905▲ 95.2%€216,933▲ 26.9%€126,764▼ 41.6%€130,823▲ 3.2%
Working capital€25,442within the sector's middle half▲ 223%€45,379within the sector's middle half▲ 78.4%-€63,519below the sector's middle half-€40,886below the sector's middle half▲ 35.6%€40,478within the sector's middle half
Solvency26.2%within the sector's middle half▲ 9.8pp23.8%within the sector's middle half▼ 2.4pp-58.9%below the sector's middle half▼ 82.7pp-108.3%below the sector's middle half▼ 49.3pp10.8%below the sector's middle half▲ 119.0pp
Current ratio1.45within the sector's middle half▲ 0.241.39within the sector's middle half▼ 0.060.59below the sector's middle half▼ 0.810.57below the sector's middle half▼ 0.021.39within the sector's middle half▲ 0.83
Return on assets (ROA)17.1%within the sector's middle half▲ 7.0pp4.4%within the sector's middle half▼ 12.7pp-89.7%below the sector's middle half▼ 94.1pp23.9%within the sector's middle half▲ 113.6pp55.7%above the sector's middle half▲ 31.8pp
Staff (FTE)3.5▲ 45.8%4.4▲ 25.7%5.3▲ 20.5%3.3▼ 37.7%4.5▲ 36.4%
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 221% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €146,644
Fixed assets
€2,964 ▼ 60.7%
Current assets
€143,681 ▲ 169%
Equity and liabilities €146,644
Equity
€15,822
Debt
€130,823
Debt finances 89.2% of the balance-sheet total.
Key figures and ratios
EBITDA
€94,244▲
2024 · €34,875
Cash flow
€87,488▲
2024 · €21,853
Quick ratio
0.64▲
2024 · 0.13
Debt to equity
8.27▲
2024 · -1.92
ROE
516.5%
Interest coverage
10.88▲
2024 · 2.74
Debt ≤ 1 year
€103,203▲
2024 · €94,220
Income taxes
€423▼
2024 · €435
Staff costs
€252,848▲
2024 · €189,200
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.4%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,053 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €113,078 | €174,896 | €230,047 | €189,200 | €252,848 | ▲ 33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,038 | €17,420 | €17,247 | €7,308 | €5,772 | ▼ 21.0% |
| Other operating charges640/8 | €12,924 | €3,409 | €3,095 | €18,665 | €1,717 | ▼ 90.8% |
| Gross operating margin9900 | €161,824 | €204,206 | €139,959 | €242,740 | €348,809 | ▲ 43.7% |
| Operating profit (loss)9901 | €22,783 | €8,481 | -€110,429 | €27,567 | €88,472 | ▲ 221% |
| Financial income75/76B | €292 | €237 | €55 | €147 | €2,326 | ▲ 1,484% |
| Recurring financial income75 | €292 | €237 | €55 | €147 | €2,326 | ▲ 1,484% |
| Financial charges65/66B | €2,692 | €6,526 | €11,649 | €12,734 | €8,659 | ▼ 32.0% |
| Recurring financial charges65 | €2,692 | €6,526 | €11,649 | €12,734 | €8,659 | ▼ 32.0% |
| Profit (loss) for the period before taxes9903 | €20,383 | €2,193 | -€122,023 | €14,980 | €82,139 | ▲ 448% |
| Income taxes67/77 | €57 | -€7,641 | €473 | €435 | €423 | ▼ 2.8% |
| Profit (loss) for the period9904 | €20,326 | €9,833 | -€122,495 | €14,545 | €81,717 | ▲ 462% |
| Profit (loss) for the period to be appropriated9905 | €20,326 | €9,833 | -€122,495 | €14,545 | €81,717 | ▲ 462% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €118,621 | €224,211 | €136,493 | €60,870 | €146,644 | ▲ 141% |
| Fixed assets21/28 | €36,614 | €63,741 | €45,466 | €7,536 | €2,964 | ▼ 60.7% |
| Tangible fixed assets22/27 | €36,454 | €63,581 | €43,656 | €7,376 | €2,804 | ▼ 62.0% |
| Plant, machinery and equipment23 | €2,026 | €8,456 | €5,796 | €2,166 | €1,271 | ▼ 41.3% |
| Furniture and vehicles24 | €4,533 | €31,752 | €28,972 | - | - | - |
| Leasing and similar rights25 | €29,894 | €23,372 | €8,889 | €5,211 | €1,533 | ▼ 70.6% |
| Financial fixed assets28 | €160 | €160 | €1,810 | €160 | €160 | = |
| Current assets29/58 | €82,007 | €160,470 | €91,027 | €53,333 | €143,681 | ▲ 169% |
| Stocks and contracts in progress3 | €50,000 | €50,000 | €5,000 | €41,345 | €78,000 | ▲ 88.7% |
| Stocks30/36 | €50,000 | €50,000 | €5,000 | €41,345 | €78,000 | ▲ 88.7% |
| Amounts receivable within one year40/41 | €29,270 | €100,490 | €83,890 | €10,364 | €62,729 | ▲ 505% |
| Trade receivables40 | €21,244 | €57,206 | €55,988 | €3,100 | €44,688 | ▲ 1,342% |
| Other amounts receivable41 | €8,026 | €43,284 | €27,902 | €7,264 | €18,040 | ▲ 148% |
| Cash at bank and in hand54/58 | - | €6,317 | - | - | - | - |
| Deferred charges and accrued income490/1 | €2,736 | €3,663 | €2,136 | €1,625 | €2,952 | ▲ 81.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €118,621 | €224,211 | €136,493 | €60,870 | €146,644 | ▲ 141% |
| Equity10/15 | €31,072 | €53,306 | -€80,440 | -€65,895 | €15,822 | ▲ 124% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €24,872 | €34,706 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | €23,012 | €32,846 | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | - | - | -€100,900 | -€86,355 | -€4,638 | ▲ 94.6% |
| Amounts payable17/49 | €87,548 | €170,905 | €216,933 | €126,764 | €130,823 | ▲ 3.2% |
| Amounts payable after more than one year17 | €30,984 | €47,890 | €32,810 | €15,036 | - | - |
| Financial debts170/4 | €30,984 | €47,890 | €32,810 | €15,036 | - | - |
| Amounts payable within one year42/48 | €56,564 | €115,091 | €154,545 | €94,220 | €103,203 | ▲ 9.5% |
| Current portion of amounts payable after more than one year42 | €8,533 | €14,313 | €20,894 | €14,824 | €14,194 | ▼ 4.3% |
| Financial debts43 | €10,680 | €48,657 | €76,787 | €47,647 | €53,571 | ▲ 12.4% |
| Credit institutions430/8 | €10,680 | €48,657 | €76,787 | €47,647 | €53,571 | ▲ 12.4% |
| Trade debts44 | €32,270 | €40,034 | €46,349 | €22,837 | €26,378 | ▲ 15.5% |
| Suppliers440/4 | €32,270 | €40,034 | €46,349 | €22,837 | €26,378 | ▲ 15.5% |
| Taxes, remuneration and social security45 | €5,082 | €12,088 | €10,515 | €8,911 | €9,060 | ▲ 1.7% |
| Taxes450/3 | €2,061 | €530 | - | €907 | €3,708 | ▲ 309% |
| Remuneration and social security454/9 | €3,021 | €11,558 | €10,515 | €8,004 | €5,351 | ▼ 33.1% |
| Accrued charges and deferred income492/3 | - | €7,924 | €29,578 | €17,508 | €27,620 | ▲ 57.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,326 | €9,833 | -€122,495 | €14,545 | €81,717 | ▲ 462% |
| + Depreciation and write-downs630 | €13,038 | €17,420 | €17,247 | €7,308 | €5,772 | ▼ 21.0% |
| Operating cash flow (approximation) | €33,364 | €27,253 | -€105,249 | €21,853 | €87,488 | ▲ 300% |
| Investment in fixed assets (approximation) | - | -€44,547 | €1,028 | €30,622 | -€1,199 | ▼ 104% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €81,717 ▲462%
Operating result €88,472, net result €81,717, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.39
Current ratio from 0.57 to 1.39.
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €14,545
Net result €14,545 after one loss-making year.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€122,495
Net result drops to -€122,495, the lowest in the series; recovery starts the following year.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €6,633
Net result €6,633 after 2 loss-making years.
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
Show earlier events
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Jodoigne · 1 establishment unit since 2014
Ground area
884 m²
Building footprint
127 m²
Volume, LiDAR
705 m³
Parcel 25064C0263/00E000, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BE-SF
since 20142.236.256.806
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25064C0263/00E000 | Wallonia | 884 m² | 1 · 127 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,907. 4,387 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-09-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43333Wallpapering and laying of floor and wall coverings in other materials
73300Public relations and communication consultancy
42110Construction of roads and motorways
43331Floor and wall tiling
43332Laying of wooden floor and wall coverings
43422Screed work
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0563403714
Registered
08-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.