S.D.A.
ActiveSummary
S.D.A. has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €254,547 and a net result of €1,902. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 93% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+67
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 16.84 against 13.27 in 2024; short-term debt: 5.7% and cash: 57.3% of total assets), and 5.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
94.3%
Return on assets
0.7%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
7 d early
2022
25 d early
2021
2 d early
2020
on the day
2019
7 d early
← 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 6 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 28 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€254,547▲ 0.8%
2024 · €252,645
Total assets
€269,980▼ 0.6%
2024 · €271,539
Net result
€1,902
2024 · -€34,616
Working capital
€244,469▲ 5.5%
2024 · €231,797
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€42,193▼ 39.2%€54,318▲ 28.7%€17,220▼ 68.3%-€35,377€928
Net result€35,107above the sector's middle half▼ 38.1%€40,649above the sector's middle half▲ 15.8%€7,692within the sector's middle half▼ 81.1%-€34,616below the sector's middle half€1,902within the sector's middle half
Equity€238,920above the sector's middle half▲ 17.2%€279,569above the sector's middle half▲ 17.0%€287,261above the sector's middle half▲ 2.8%€252,645above the sector's middle half▼ 12.1%€254,547above the sector's middle half▲ 0.8%
Total assets€273,270within the sector's middle half▲ 8.9%€309,325within the sector's middle half▲ 13.2%€325,509within the sector's middle half▲ 5.2%€271,539within the sector's middle half▼ 16.6%€269,980within the sector's middle half▼ 0.6%
Debt€34,350▼ 27.3%€29,756▼ 13.4%€38,248▲ 28.5%€18,894▼ 50.6%€15,433▼ 18.3%
Working capital€184,747above the sector's middle half▲ 27.3%€236,224above the sector's middle half▲ 27.9%€254,116above the sector's middle half▲ 7.6%€231,797above the sector's middle half▼ 8.8%€244,469above the sector's middle half▲ 5.5%
Solvency87.4%above the sector's middle half▲ 6.2pp90.4%above the sector's middle half▲ 3.0pp88.2%above the sector's middle half▼ 2.1pp93.0%above the sector's middle half▲ 4.8pp94.3%above the sector's middle half▲ 1.2pp
Current ratio6.38above the sector's middle half▲ 2.318.94above the sector's middle half▲ 2.567.64above the sector's middle half▼ 1.2913.27above the sector's middle half▲ 5.6216.84above the sector's middle half▲ 3.57
Return on assets (ROA)12.8%within the sector's middle half▼ 9.7pp13.1%above the sector's middle half▲ 0.3pp2.4%within the sector's middle half▼ 10.8pp-12.7%below the sector's middle half▼ 15.1pp0.7%within the sector's middle half▲ 13.5pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
The operating result returns to profit in 2025: €928 after a loss of €35,377 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €269,980
Fixed assets
€10,078 ▼ 51.7%
Current assets
€259,902 ▲ 3.7%
Equity and liabilities €269,980
Equity
€254,547 ▲ 0.8%
Debt
€15,433 ▼ 18.3%
Debt's share of the balance-sheet total falls from 7.0% to 5.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€11,698▲
2024 · -€23,080
Cash flow
€12,672▲
2024 · -€22,319
Quick ratio
13.38▲
2024 · 10.93
Debt to equity
0.06▼
2024 · 0.07
ROE
0.7%▲
2024 · -13.7%
Interest coverage
140.94▲
2024 · -339.41
Debt ≤ 1 year
€15,433▼
2024 · €18,894
Income taxes
€137▲
2024 · €119
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 17,027 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,854 | €12,796 | €12,147 | €12,297 | €10,770 | ▼ 12.4% |
| Other operating charges640/8 | €362 | €445 | €856 | €789 | €818 | ▲ 3.7% |
| Gross operating margin9900 | €58,409 | €67,559 | €30,223 | -€22,291 | €12,516 | ▲ 156% |
| Operating profit (loss)9901 | €42,193 | €54,318 | €17,220 | -€35,377 | €928 | ▲ 103% |
| Financial income75/76B | €1,161 | €899 | €592 | €948 | €1,194 | ▲ 25.9% |
| Recurring financial income75 | €1,161 | €899 | €592 | €948 | €1,194 | ▲ 25.9% |
| Financial charges65/66B | €144 | €75 | €78 | €68 | €83 | ▲ 22.1% |
| Recurring financial charges65 | €144 | €75 | €78 | €68 | €83 | ▲ 22.1% |
| Profit (loss) for the period before taxes9903 | €43,210 | €55,142 | €17,734 | -€34,497 | €2,039 | ▲ 106% |
| Income taxes67/77 | €8,103 | €14,493 | €10,042 | €119 | €137 | ▲ 15.1% |
| Profit (loss) for the period9904 | €35,107 | €40,649 | €7,692 | -€34,616 | €1,902 | ▲ 105% |
| Profit (loss) for the period to be appropriated9905 | €35,107 | €40,649 | €7,692 | -€34,616 | €1,902 | ▲ 105% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €273,270 | €309,325 | €325,509 | €271,539 | €269,980 | ▼ 0.6% |
| Fixed assets21/28 | €54,173 | €43,345 | €33,145 | €20,848 | €10,078 | ▼ 51.7% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €54,123 | €43,295 | €33,095 | €20,798 | €10,028 | ▼ 51.8% |
| Land and buildings22 | €7,395 | €5,916 | €4,467 | €3,019 | €1,570 | ▼ 48.0% |
| Plant, machinery and equipment23 | €18,550 | €16,485 | €14,268 | €10,883 | €8,068 | ▼ 25.9% |
| Furniture and vehicles24 | €28,178 | €20,894 | €14,360 | €6,896 | €390 | ▼ 94.3% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €219,097 | €265,980 | €292,364 | €250,691 | €259,902 | ▲ 3.7% |
| Stocks and contracts in progress3 | €26,908 | €22,501 | €46,934 | €44,131 | €53,476 | ▲ 21.2% |
| Stocks30/36 | €26,908 | €22,501 | €46,934 | €44,131 | €53,476 | ▲ 21.2% |
| Amounts receivable within one year40/41 | €14,615 | €2,913 | €5,613 | - | €6,760 | - |
| Trade receivables40 | €11,732 | €761 | €1,832 | - | €6,760 | - |
| Other amounts receivable41 | €2,883 | €2,152 | €3,781 | - | - | - |
| Current investments50/53 | - | - | - | - | €45,075 | - |
| Cash at bank and in hand54/58 | €177,574 | €240,566 | €239,817 | €206,560 | €154,591 | ▼ 25.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €273,270 | €309,325 | €325,509 | €271,539 | €269,980 | ▼ 0.6% |
| Equity10/15 | €238,920 | €279,569 | €287,261 | €252,645 | €254,547 | ▲ 0.8% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €218,920 | €259,569 | €267,261 | €232,645 | €234,547 | ▲ 0.8% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | €216,920 | €257,569 | €265,261 | €230,645 | €232,547 | ▲ 0.8% |
| Amounts payable17/49 | €34,350 | €29,756 | €38,248 | €18,894 | €15,433 | ▼ 18.3% |
| Amounts payable within one year42/48 | €34,350 | €29,756 | €38,248 | €18,894 | €15,433 | ▼ 18.3% |
| Trade debts44 | €16,150 | €4,251 | €19,228 | €9,705 | €9,879 | ▲ 1.8% |
| Suppliers440/4 | €16,150 | €4,251 | €19,228 | €9,705 | €9,879 | ▲ 1.8% |
| Advances received on contracts in progress46 | €16,200 | €8,500 | €12,913 | €4,500 | €800 | ▼ 82.2% |
| Taxes, remuneration and social security45 | €2,000 | €17,005 | €6,107 | €2,119 | €2,140 | ▲ 1.0% |
| Taxes450/3 | - | €15,005 | €4,107 | €119 | €140 | ▲ 17.6% |
| Remuneration and social security454/9 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Other amounts payable47/48 | - | - | - | €2,570 | €2,614 | ▲ 1.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,107 | €40,649 | €7,692 | -€34,616 | €1,902 | ▲ 105% |
| + Depreciation and write-downs630 | €15,854 | €12,796 | €12,147 | €12,297 | €10,770 | ▼ 12.4% |
| Operating cash flow (approximation) | €50,961 | €53,445 | €19,839 | -€22,319 | €12,672 | ▲ 157% |
| Investment in fixed assets (approximation) | - | -€1,968 | -€1,947 | €0 | €0 | - |
| Change in cash | - | €62,992 | -€749 | -€33,257 | -€51,969 | ▼ 56.3% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €1,902
Net result €1,902 after one loss-making year.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet -€34,616
Net result drops to -€34,616, the lowest in the series; recovery starts the following year.
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €56,689 ▲163%
Operating result €69,389, net result €56,689, both a record.
30-09
Financial
Equity above €200,000Eq €203,813 ▲38.5%
3 profitable years in a row build equity to €203,813.
23-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 4 days late
2017
26-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ichtegem · 1 establishment unit since 2003
Ground area
1,697 m²
Building footprint
469 m²
Volume, LiDAR
2,306 m³
Parcel 35006A0262/00T002, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
DEN ATELIER
since 20032.112.233.101
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35006A0262/00T002 | Flanders | 1,697 m² | 1 · 469 m² | 9.1 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 1,567 companies in sector 46900 we hold annual accounts for 920. 672 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
Founded05-09-1990
Fiscal year end30-09
Activities, NACEBEL 2025
46900Non-specialised wholesale trade
46494Wholesale of non-electrical household articles
47552Retail sale of lighting equipment
Contact
Website
www.denatelier.com
E-mail
info@denatelier.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441331786
Also
9925:BE0441331786
Registered
06-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.