S.D.E.
ActiveSummary
S.D.E. has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €188,748 and a net result of €16,146. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 72% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-2
Solvency85▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 5.22 against 6.79 in 2024; short-term debt: 6.6% and cash: 1.5% of total assets), and 40% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
60%
Return on assets
5.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-12-2025, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 d early
2024
42 d early
2023
on the day
2022
28 d late
2021
150 d late
2020
on the day
2019
1 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 14 days after the deadline; the sector median for financial year 2024 is 7 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€188,748▲ 9.4%
2024 · €172,601
Total assets
€314,726▲ 5.3%
2024 · €298,979
Net result
€16,146▼ 21.4%
2024 · €20,547
Working capital
€88,186▼ 44.7%
2024 · €159,605
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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€18,196▼ 21.6%€21,501▲ 18.2%€30,391▲ 41.3%€27,568▼ 9.3%€21,014▼ 23.8%
Net result€11,592within the sector's middle half▼ 14.1%€14,046within the sector's middle half▲ 21.2%€21,091within the sector's middle half▲ 50.2%€20,547within the sector's middle half▼ 2.6%€16,146within the sector's middle half▼ 21.4%
Equity€123,917within the sector's middle half▲ 10.3%€137,963within the sector's middle half▲ 11.3%€159,054within the sector's middle half▲ 15.3%€172,601within the sector's middle half▲ 8.5%€188,748within the sector's middle half▲ 9.4%
Total assets€244,814within the sector's middle half▲ 2.2%€264,959within the sector's middle half▲ 8.2%€285,724within the sector's middle half▲ 7.8%€298,979within the sector's middle half▲ 4.6%€314,726within the sector's middle half▲ 5.3%
Debt€56,292▼ 10.1%€62,391▲ 10.8%€62,065▼ 0.5%€61,773▼ 0.5%€61,373▼ 0.6%
Working capital€91,021▲ 9.3%€140,476▲ 54.3%€161,778▲ 15.2%€159,605▼ 1.3%€88,186▼ 44.7%
Solvency50.6%within the sector's middle half▲ 3.7pp52.1%within the sector's middle half▲ 1.5pp55.7%within the sector's middle half▲ 3.6pp57.7%within the sector's middle half▲ 2.1pp60.0%within the sector's middle half▲ 2.2pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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
The operating result has fallen two years in a row; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €314,726
Fixed assets
€205,636 ▲ 83.9%
Current assets
€109,090 ▼ 41.7%
Equity and liabilities €314,726
Equity
€188,748 ▲ 9.4%
Provisions
€64,605 =
Debt
€61,373 ▼ 0.6%
Debt's share of the balance-sheet total falls from 20.7% to 19.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31,932▼
2024 · €35,398
Cash flow
€27,064▼
2024 · €28,377
Current ratio
5.22▼
2024 · 6.79
Debt to equity
0.33▼
2024 · 0.36
ROE
8.6%▼
2024 · 11.9%
ROA
5.1%▼
2024 · 6.9%
Interest coverage
15.94▼
2024 · 28.76
Debt ≤ 1 year
€20,904▼
2024 · €27,573
Debt > 1 year
€40,469▲
2024 · €33,925
Income taxes
€7,463▲
2024 · €6,306
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 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 31,324 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,545 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,115 | €10,587 | €6,894 | €7,830 | €10,918 | ▲ 39.4% |
| Other operating charges640/8 | €2,466 | €2,909 | €3,542 | €3,261 | €2,556 | ▼ 21.6% |
| Gross operating margin9900 | €31,777 | €34,997 | €40,827 | €38,659 | €34,487 | ▼ 10.8% |
| Operating profit (loss)9901 | €18,196 | €21,501 | €30,391 | €27,568 | €21,014 | ▼ 23.8% |
| Financial income75/76B | €594 | €2,162 | €2,853 | €516 | €4,598 | ▲ 791% |
| Recurring financial income75 | €594 | €2,162 | €2,853 | €516 | €4,598 | ▲ 791% |
| Financial charges65/66B | €2,156 | €2,877 | €1,435 | €1,231 | €2,003 | ▲ 62.7% |
| Recurring financial charges65 | €2,156 | €2,877 | €1,435 | €1,231 | €2,003 | ▲ 62.7% |
| Profit (loss) for the period before taxes9903 | €16,634 | €20,786 | €31,809 | €26,853 | €23,609 | ▼ 12.1% |
| Income taxes67/77 | €5,042 | €6,740 | €10,718 | €6,306 | €7,463 | ▲ 18.3% |
| Profit (loss) for the period9904 | €11,592 | €14,046 | €21,091 | €20,547 | €16,146 | ▼ 21.4% |
| Profit (loss) for the period to be appropriated9905 | €11,592 | €14,046 | €21,091 | €20,547 | €16,146 | ▼ 21.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €244,814 | €264,959 | €285,724 | €298,979 | €314,726 | ▲ 5.3% |
| Fixed assets21/28 | €115,964 | €105,377 | €100,546 | €111,800 | €205,636 | ▲ 83.9% |
| Tangible fixed assets22/27 | €96,164 | €85,577 | €80,746 | €92,000 | €81,083 | ▼ 11.9% |
| Land and buildings22 | €92,300 | €85,577 | €78,855 | €72,133 | €65,411 | ▼ 9.3% |
| Plant, machinery and equipment23 | - | - | - | €2,965 | €2,656 | ▼ 10.4% |
| Furniture and vehicles24 | €3,864 | - | €1,891 | €16,903 | €13,016 | ▼ 23.0% |
| Financial fixed assets28 | €19,800 | €19,800 | €19,800 | €19,800 | €124,554 | ▲ 529% |
| Current assets29/58 | €128,850 | €159,582 | €185,178 | €187,179 | €109,090 | ▼ 41.7% |
| Amounts receivable within one year40/41 | €126,850 | €148,201 | €166,828 | €182,298 | €101,846 | ▼ 44.1% |
| Trade receivables40 | - | €2,693 | €6,578 | €14,934 | €5,963 | ▼ 60.1% |
| Other amounts receivable41 | €126,850 | €145,508 | €160,250 | €167,364 | €95,883 | ▼ 42.7% |
| Current investments50/53 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Cash at bank and in hand54/58 | - | €9,381 | €13,633 | €2,105 | €4,639 | ▲ 120% |
| Deferred charges and accrued income490/1 | - | - | €2,717 | €775 | €605 | ▼ 22.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €244,814 | €264,959 | €285,724 | €298,979 | €314,726 | ▲ 5.3% |
| Equity10/15 | €123,917 | €137,963 | €159,054 | €172,601 | €188,748 | ▲ 9.4% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €97,859 | €109,859 | €136,859 | €154,009 | €170,156 | ▲ 10.5% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | €96,000 | €108,000 | €135,000 | €152,150 | €168,297 | ▲ 10.6% |
| Profit (loss) carried forward14 | €7,466 | €9,512 | €3,603 | - | - | - |
| Provisions and deferred taxes16 | €64,605 | €64,605 | €64,605 | €64,605 | €64,605 | = |
| Provisions for liabilities and charges160/5 | €64,605 | €64,605 | €64,605 | €64,605 | €64,605 | = |
| Pensions and similar obligations160 | €64,605 | €64,605 | €64,605 | €64,605 | €64,605 | = |
| Amounts payable17/49 | €56,292 | €62,391 | €62,065 | €61,773 | €61,373 | ▼ 0.6% |
| Amounts payable after more than one year17 | €10,335 | €43,285 | €38,665 | €33,925 | €40,469 | ▲ 19.3% |
| Financial debts170/4 | €10,335 | €43,285 | €38,665 | €33,925 | €40,469 | ▲ 19.3% |
| Amounts payable within one year42/48 | €37,829 | €19,106 | €23,400 | €27,573 | €20,904 | ▼ 24.2% |
| Current portion of amounts payable after more than one year42 | €18,595 | €4,505 | €4,621 | €4,740 | €8,207 | ▲ 73.2% |
| Financial debts43 | €13,116 | - | - | - | - | - |
| Credit institutions430/8 | €13,116 | - | - | - | - | - |
| Trade debts44 | - | €19 | €117 | €5,911 | €3,236 | ▼ 45.3% |
| Suppliers440/4 | - | €19 | €117 | €5,911 | €3,236 | ▼ 45.3% |
| Taxes, remuneration and social security45 | €6,118 | €14,582 | €18,662 | €9,922 | €9,462 | ▼ 4.6% |
| Taxes450/3 | €6,118 | €14,582 | €18,662 | €9,922 | €9,462 | ▼ 4.6% |
| Other amounts payable47/48 | - | - | - | €7,000 | - | - |
| Accrued charges and deferred income492/3 | €8,128 | - | - | €274 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,592 | €14,046 | €21,091 | €20,547 | €16,146 | ▼ 21.4% |
| + Depreciation and write-downs630 | €11,115 | €10,587 | €6,894 | €7,830 | €10,918 | ▲ 39.4% |
| Operating cash flow (approximation) | €22,707 | €24,633 | €27,985 | €28,377 | €27,064 | ▼ 4.6% |
| Investment in fixed assets (approximation) | - | €0 | -€2,063 | -€19,085 | -€104,754 | ▼ 449% |
| Change in cash | - | - | €4,252 | -€11,528 | €2,534 | ▲ 122% |
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
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
20-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2019net €21,091 ▲50.2%
Operating result €30,391, net result €21,091, both a record.
30-06
Financial
Equity above €150,000Eq €159,054 ▲15.3%
5 profitable years in a row build equity to €159,054.
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
30-06
Financial
Liquidity doublescurrent ratio 8.35
Current ratio from 3.41 to 8.35; short-term debt falls from €37,829 to €19,106.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 150 days late
2021
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Equity above €100,000Eq €112,325 ▲13.7%
2 profitable years in a row build equity to €112,325.
01-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 1 day late
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-01
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.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Dendermonde · 1 establishment unit since 1995
Ground area
1,471 m²
Building footprint
209 m²
Volume, LiDAR
1,074 m³
Parcel 42002B0489/00Z000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Zevenhoevenstraat (BAA) 43, 9200 Dendermonde
since 19952.072.698.770
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42002B0489/00Z000 | Flanders | 1,471 m² | 1 · 209 m² | 8.4 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-06-2025 list no shareholders, and no other source names one.
Holdings 1
-
99%
According to the annual accounts to 30-06-2025 of S.D.E. and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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IMMOBILIERE LE VIAGER
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LAMEIRE INVEST
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,907. 5,197 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded13-07-1995
Fiscal year end30-06
Activities, NACEBEL 2025
68310Real estate agency activities
49410Freight transport by road
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455711047
Also
9925:BE0455711047
Registered
25-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.