Equity
€5.6m ▲ 86.5%
Equity rose in 2025 from €3.0m to €5.6m.
S.E.B.E.R.
Overview
Lifetime
19 annual accounts with figures on one time axis, 29 filings since 1996peak €878,761 (2017)
€152,007▲ 12.4%
lowest -€734,067 (2022)
€52,790▼ 11.8%
peak €5.6m (2025)
€5.6m▲ 86.5%
€522,885▲ 34.8%
Board4 names since 2019
1 directorPhilippe BOUTE
Documentsfilings and deeds
10-06-202651 days before the deadline
2025micro format
Gross margin from €135,257 to €152,007Annee Comptable 05-08Equity from €3.0m to €5.6mDebts from €387,874 to €522,885Investments €2.6mCash from €4,550 to €102,041
Key points
from the 2025 annual accountsTurnover
≈ €220,000 estimated
The accounts state no turnover.
Debts
€522,885 ▲ 34.8%
Debts rose by €135,011 in 2025.
Liquidity
20.37 was 15.24 in 2024
Short-term debts fell from €78,874 to €70,147.
Filings
29 annual accounts since 1996
Eight of the last ten came late. The 2019 accounts came latest: 88 days after the end of the period.
Position in the sector
€5.6m
More equity than 95% of companies in real estate. Sector median €73,122 · 17,201 companies.
Checked score
96
Excellent
Financially stronger than 68% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.1%▼ -0.1 percentage points vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.2%▲ +0.1 percentage points vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.3%▲ +0.1 percentage points vs 12-2025
02-2026: 0.6%▲ +0.3 percentage points vs 01-2026
03-2026: 0.7%▲ +0.1 percentage points vs 02-2026
04-2026: 1.3%▲ +0.6 percentage points vs 03-2026
05-2026: 1.4%▲ +0.1 percentage points vs 04-2026
06-2026: 1.6%▲ +0.2 percentage points vs 05-2026highest value
07-2026: 0.1%▼ -1.5 percentage points vs 06-2026lowest value
08-2026: 0.1%● unchanged vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 20.37, cash €102,041
No registered site in the KBO
lowers risk
Size: total assets €6.2m
Figures for financial year 2025 (filed on 10-06-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small). It does better than 92% of them on solvency, 71% on liquidity and 42% on profitability.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,887 companies had the same profile as S.E.B.E.R. has now. Each dot stands for 5 companies, two years later.
97.9%
were still trading
2.0%
stopped another way
0.1%
went bankrupt
That fits the bankruptcy probability of S.E.B.E.R. itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,887 companies, not a prediction for S.E.B.E.R.. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €500,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 20.37 (15.24 in 2024), above the usual 1.5. Short-term debt is 1.1% and cash 1.6% of total assets. 9.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
18192122232425
2018 to 2025 · latest year €5.6m
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 days early
2024
39 days early
2023
28 days late
2022
27 days late
2021
17 days late
2019
88 days late
2018
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 14 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0437426646
Annee Comptable
Gazette deed
Resignation: SAS MALDIVES 3 (director general)
Appointment: Philippe BOUTE (director) · Director discharge: SAS MALDIVES 3 · General meeting of 30-01-2021 · Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointments
Legal-form conversion: to private limited company · Board composition: MALDIVES 3 (director (not named in the articles)) · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| S.E.B.E.R. Ixelles | €6.2m | €152,007 | 90.5% | - |
| IMMOBILIÈRE DE MEISE Woluwe-Saint-Pierre | €6.0m | €156,472 | 49.5% | - |
| IMMO HANKAR Uccle | €6.5m | €137,561 | 2.1% | - |
| LMNE Kraainem | €6.0m | €145,485 | 49.8% | - |
| I.M. INVEST Hasselt | €5.6m | €149,529 | 89.1% | 0 |
| O - INVEST Olen | €5.4m | €154,091 | 65.3% | - |
| MALITHO Ghent | €6.1m | €140,316 | 24.8% | - |
These companies have the same main activity as S.E.B.E.R.: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €5.4m and €6.5m, founded between 1986 and 1993.
Official details
Source: KBO- Status
- Active since 03-05-1989Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €152,007
- €52,790
- €5.6m
- €6.2m
- Filing
- Filed on 10-06-2026, 51 days before the end of the filing period
Insights on S.E.B.E.R.
S.E.B.E.R. files the micro format. That format states no turnover. The gross margin rose from €73,429 in 2006 to €152,007 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 10-06-2026, 51 days before the deadline€152,007
▲ 12.4%
€49,638
▼ 35.4%
€52,790
▼ 11.8%
€1.4m
▲ 20.9%
90.5%
▲ 3.8 percentage points
20.37
▲ 5.12
The turnover shown is an estimate from the gross margin.
Turnover ≈ €220,000. Estimated: probably between €170,000 and €300,000.
Balance sheet
balance sheet total €6.2m on 31-12-2025What the company ownsHow it is paid for
in €m
in euro
Position in the sector
90.5%
Higher than 92% of 17,185 companies in 2025.
20.37
Higher than 95% of 16,482 companies in 2025.
0.9%
Higher than 45% of 16,861 companies in 2025.
S.E.B.E.R.
Middle half of the sector
80% of the sector
Micro accounts in real estate (NACE 68)
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
6.2m | 3.5m | 3.4m | 3.4m | 4.2m | 3.9m | 4.0m | 3.9m | 4.9m | 5.6m | 5.8m | 5.8m | 5.6m | 5.0m | 4.3m | 3.9m | 3.0m | 2.2m | 1.6m | |
21/28 |
4.8m | 2.3m | 2.3m | 2.3m | 2.3m | 2.4m | 2.4m | 2.4m | 2.5m | 1.0m | 1.0m | 1.1m | 1.4m | 1.6m | 1.7m | 1.6m | 1.5m | 938,980 | 792,246 | |
22/27 |
3.3m | 750,867 | 785,778 | 810,679 | 810,966 | 854,593 | 893,634 | 928,359 | 1.0m | 1.0m | 1.0m | 1.1m | 1.3m | 1.5m | 1.6m | 1.6m | 1.5m | 914,229 | 767,495 | |
22 |
3.2m | 747,440 | 785,778 | 810,679 | 810,966 | 854,593 | 893,634 | 928,359 | 1.0m | 1.0m | 1.0m | 1.1m | 1.3m | 1.5m | 1.6m | 1.6m | 1.4m | 736,866 | 609,384 | |
24 |
2,902 | 3,427 | - | - | - | - | - | - | 175 | 349 | 524 | 1,072 | 1,620 | 1,048 | 1,400 | 1,752 | 1,572 | - | 302 | |
26 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 154,247 | 177,364 | 157,809 | |
28 |
1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 1.5m | 767 | 767 | 767 | 144,751 | 144,751 | 144,751 | 24,752 | 24,751 | 24,751 | 24,751 | |
29/58 |
1.4m | 1.2m | 1.1m | 1.1m | 1.8m | 1.5m | 1.6m | 1.5m | 2.4m | 4.6m | 4.7m | 4.7m | 4.2m | 3.4m | 2.6m | 2.3m | 1.4m | 1.3m | 808,741 | |
29 |
- | - | - | - | - | - | - | 1.3m | - | - | - | - | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | - | - | 26,164 | - | - | - | - | - | - | - | - | - | - | - | |
291 |
- | - | - | - | - | - | - | 1.3m | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
1.3m | 1.2m | 1.1m | 1.1m | 1.8m | 1.5m | 1.6m | - | 2.4m | 4.6m | 4.7m | 4.6m | 4.2m | 3.4m | 2.6m | 2.3m | 1.4m | 1.2m | 799,248 | |
40 |
5,417 | 27,873 | 22,256 | 21,079 | 22,136 | - | - | - | 26,164 | 31,253 | 74,624 | 120,214 | 26,964 | 51,157 | 59,664 | 15,558 | 4,649 | 21,027 | 18,794 | |
41 |
1.3m | 1.2m | 1.1m | 1.0m | 1.8m | 1.5m | 1.6m | - | 2.4m | 4.5m | 4.7m | 4.5m | 4.1m | 3.3m | 2.6m | 2.3m | 1.4m | 1.2m | 780,454 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 37 | 37 | 37 | 37 | 35 | 34 | |
54/58 |
102,041 | 4,550 | 3,752 | 11,996 | 3,346 | 1,225 | 902 | 184,990 | 28,874 | 11,618 | 10,220 | 82,241 | 2,983 | 3,170 | 14,479 | 5,542 | 10,171 | 11,499 | 9,459 | |
490/1 |
1,319 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
6.2m | 3.5m | 3.4m | 3.4m | 4.2m | 3.9m | 4.0m | 3.9m | 4.9m | 5.6m | 5.8m | 5.8m | 5.6m | 5.0m | 4.3m | 3.9m | 3.0m | 2.2m | 1.6m | |
10/15 |
5.6m | 3.0m | 2.9m | 2.9m | 3.7m | 3.7m | 3.8m | 3.7m | 2.5m | 1.1m | 1.1m | 1.1m | 908,019 | 844,192 | 813,783 | 864,278 | 888,818 | 848,048 | 864,877 | |
10/11 |
3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 1.5m | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
10 |
3.0m | 3.0m | 3.0m | 3.0m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 3.0m | 1.5m | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
12 |
2.5m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
490,482 | 503,134 | 511,568 | 520,002 | 528,437 | 541,088 | 549,522 | 259,816 | 268,251 | 276,685 | 285,119 | 294,095 | 314,399 | 331,486 | 348,573 | 365,660 | 382,747 | 206,123 | 217,399 | |
130/1 |
300,000 | 300,000 | 300,000 | 300,000 | 300,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
300,000 | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
132 |
125,659 | 138,310 | 146,745 | 155,179 | 163,613 | 176,265 | 184,699 | 193,133 | 201,567 | 210,002 | 218,436 | 227,412 | 247,716 | 264,803 | 281,890 | 298,977 | 316,064 | 139,440 | 150,715 | |
133 |
64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | 64,823 | |
14 |
-434,478 | -499,919 | -568,175 | -576,004 | 149,629 | 174,044 | 207,609 | 412,603 | 733,103 | 807,594 | 791,461 | 758,837 | 575,019 | 494,106 | 446,610 | 480,018 | 487,470 | 623,325 | 628,878 | |
16 |
64,705 | 71,219 | 75,562 | 79,905 | 84,248 | 90,763 | 95,106 | 99,449 | 103,792 | 108,135 | 112,478 | 117,100 | 127,554 | 136,353 | 145,151 | 153,950 | 162,748 | 71,801 | 77,607 | |
168 |
64,705 | 71,219 | 75,562 | 79,905 | 84,248 | 90,763 | 95,106 | 99,449 | 103,792 | 108,135 | 112,478 | 117,100 | 127,554 | 136,353 | 145,151 | 153,950 | 162,748 | 71,801 | 77,607 | |
17/49 |
522,885 | 387,874 | 372,541 | 367,284 | 401,169 | 63,056 | 166,872 | 120,682 | 2.3m | 4.4m | 4.6m | 4.6m | 4.6m | 4.0m | 3.4m | 2.9m | 1.9m | 1.3m | 658,504 | |
17 |
448,604 | 309,000 | 309,000 | 309,000 | 309,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
170/4 |
448,604 | 309,000 | 309,000 | 309,000 | 309,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
70,147 | 78,874 | 63,541 | 58,284 | 91,357 | 63,056 | 166,872 | 120,682 | 2.3m | 3.7m | 3.8m | 4.0m | 4.6m | 4.0m | 3.4m | 2.9m | 1.9m | 1.3m | 658,504 | |
43 |
9,446 | 13,310 | 13,000 | 23,000 | 48,000 | - | - | - | 2.2m | 3.5m | 3.5m | 3.7m | 4.5m | 4.0m | 3.2m | 2.8m | 1.8m | 1.2m | 593,154 | |
430/8 |
9,136 | - | - | - | - | - | - | - | 279,962 | 200,000 | - | 130,000 | 460,000 | 480,000 | 480,000 | 480,000 | 480,000 | 180,000 | - | |
439 |
310 | 13,310 | 13,000 | 23,000 | 48,000 | - | - | - | 1.9m | 3.3m | 3.5m | 3.6m | 4.0m | 3.5m | 2.7m | 2.3m | 1.3m | 970,099 | 593,154 | |
44 |
17,073 | 29,473 | 21,804 | 14,780 | 21,475 | 13,451 | 16,362 | 2,708 | 9,149 | 6,130 | 8,194 | 2,271 | 7,350 | 446 | 65,443 | 1,345 | 460 | 20,587 | 2,714 | |
440/4 |
17,073 | 29,473 | 21,804 | 14,780 | 21,475 | 13,451 | 16,362 | 2,708 | 9,149 | 6,130 | 8,194 | 2,271 | 7,350 | 446 | 65,443 | 1,345 | 460 | 20,587 | 2,714 | |
45 |
62 | 71 | 67 | 4 | - | 46,630 | 142,536 | 110,000 | 110,737 | 60,000 | 116,430 | 58,386 | 48,000 | - | 40,000 | 92,000 | 129,500 | 98,000 | 50,000 | |
450/3 |
62 | 71 | 67 | 4 | - | 46,630 | 142,536 | 110,000 | 110,737 | 60,000 | 116,430 | 58,386 | 48,000 | - | 40,000 | 92,000 | 129,500 | 98,000 | 50,000 | |
47/48 |
43,565 | 36,020 | 28,670 | 20,500 | 21,882 | 2,975 | 7,975 | 7,975 | 29,127 | 88,462 | 220,949 | 245,447 | 4,653 | 43,637 | 58,137 | 4,637 | 4,636 | 4,636 | 12,636 | |
492/3 |
4,134 | - | - | - | 812 | - | - | - | - | 735,418 | 735,418 | 593,669 | 765 | 1,428 | - | - | - | - | - | |
| Income statement | ||||||||||||||||||||
76A |
- | - | - | - | - | - | 350,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
9900 |
152,007 | 135,257 | 75,513 | 115,933 | 52,292 | 14,386 | -209,973 | 878,761 | -7,178 | 160,362 | 401,836 | 783,432 | 170,392 | 153,084 | 82,302 | 75,736 | 194,959 | 40,846 | 73,429 | |
630 |
61,084 | 42,863 | 42,465 | 40,320 | 56,812 | 44,966 | 46,915 | 46,021 | 55,578 | 52,338 | 49,133 | 59,881 | 71,628 | 74,395 | 73,249 | 71,954 | 65,635 | 58,082 | 49,761 | |
640/8 |
41,284 | 15,543 | 14,720 | 14,771 | 15,963 | 14,581 | 14,196 | 15,974 | 17,653 | 17,090 | 15,989 | 18,047 | 17,887 | 17,604 | 17,306 | 16,710 | 34,858 | 14,125 | 15,433 | |
66A |
- | - | - | 773,999 | - | - | - | 1.1m | - | - | - | 143,984 | - | - | - | - | - | - | - | |
9901 |
49,638 | 76,852 | 18,329 | -713,157 | -20,483 | -45,162 | -271,084 | -330,832 | -80,409 | 90,934 | 336,714 | 705,504 | 80,877 | 61,085 | -8,252 | -12,928 | 94,466 | -31,361 | 8,235 | |
75/76B |
36,449 | 270 | 227 | 121 | 16 | 393 | 352,503 | 1,388 | 737,654 | 3,889 | 0 | 18 | 159,313 | 102,083 | 80,494 | 90,804 | 95,036 | 51,283 | 20,608 | |
75 |
36,449 | 270 | 227 | 121 | 16 | 393 | 2,503 | 1,388 | 737,654 | 3,889 | 0 | 18 | 159,313 | 102,083 | 80,494 | 90,804 | 95,036 | 51,283 | 20,608 | |
76B |
- | - | - | - | - | - | 350,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
39,750 | 21,572 | 23,437 | 25,370 | 23,114 | 1,573 | 1,051 | 3,833 | 744,514 | 5,521 | 147,688 | 157,050 | 185,146 | 141,558 | 131,535 | 111,214 | 57,785 | 42,557 | 12,948 | |
65 |
39,750 | 21,572 | 23,437 | 25,370 | 23,114 | 1,573 | 1,051 | 3,833 | 9,095 | 5,521 | 147,688 | 157,050 | 185,146 | 141,558 | 131,535 | 111,214 | 57,785 | 42,557 | 12,948 | |
66B |
- | - | - | - | - | - | - | - | 735,418 | - | - | - | - | - | - | - | - | - | - | |
9903 |
46,337 | 55,550 | -4,881 | -738,406 | -43,581 | -46,342 | 80,369 | -333,277 | -87,269 | 89,302 | 189,026 | 404,488 | 55,045 | 21,610 | -59,293 | -33,338 | 131,717 | -22,635 | 15,895 | |
780 |
6,514 | 4,343 | 4,343 | 4,343 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
67/77 |
62 | 71 | 67 | 4 | - | - | - | - | - | 6,946 | 0 | 11,430 | 17 | 0 | - | - | - | - | - | |
9904 |
52,790 | 59,822 | -605 | -734,067 | -37,067 | -41,999 | 84,712 | -328,934 | -82,926 | 86,699 | 193,648 | 403,514 | 63,827 | 30,409 | -50,495 | -24,539 | 131,717 | -16,829 | 15,895 | |
789 |
12,651 | 8,434 | 8,434 | 8,434 | 12,651 | 8,434 | 8,434 | 8,434 | 8,434 | 8,434 | 8,976 | 20,304 | 17,087 | 17,087 | 17,087 | 17,087 | 25,885 | 11,276 | 14,689 | |
689 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 293,458 | - | - | |
9905 |
65,441 | 68,256 | 7,830 | -725,633 | -24,415 | -33,565 | 93,146 | -320,499 | -74,492 | 95,134 | 202,624 | 423,817 | 80,914 | 47,496 | -33,408 | -7,452 | -135,855 | -5,553 | 30,584 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-434,478 | -499,919 | -568,175 | -576,004 | 149,629 | 174,044 | 505,749 | 412,603 | 733,103 | 886,594 | 961,461 | 998,837 | 575,019 | 494,106 | 446,610 | 480,018 | 487,470 | 623,325 | 628,878 | |
14P |
-499,919 | -568,175 | -576,004 | 149,629 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | 298,140 | - | - | - | - | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | 298,140 | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | 79,000 | 170,000 | 240,000 | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | - | - | 79,000 | 170,000 | 240,000 | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The accounts for 10 older financial years (1996-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 10-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-06-2026 | 2026-00150312 | |
| 30-06-2024 | micro format | 23-12-2024 | 2024-00624515 | |
| 30-06-2023 | micro format | 28-02-2024 | 2024-00037831 | |
| 30-06-2022 | micro format | 27-02-2023 | 2023-00034136 | |
| 30-06-2021 | micro format | 17-02-2022 | 2022-05900117 | |
| 31-12-2019 | full format | 27-10-2020 | 2020-63900455 | |
| 31-12-2018 | full format | 28-08-2019 | 2019-53100178 | |
| 31-12-2017 | micro format | 21-08-2018 | 2018-48000268 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-59400424 | |
| 31-12-2015 | full format | 30-08-2016 | 2016-53200513 | |
| 31-12-2014 | full format | 24-08-2015 | 2015-45900458 | |
| 31-12-2013 | full format | 26-09-2014 | 2014-60600157 | |
| 31-12-2012 | full format | 29-08-2013 | 2013-51400434 | |
| 31-12-2011 | full format | 23-08-2012 | 2012-44400181 | |
| 31-12-2010 | full format | 10-08-2011 | 2011-39200475 | |
| 31-12-2009 | full format | 23-08-2010 | 2010-43000282 | |
| 31-12-2008 | full format | 06-08-2009 | 2009-54200337 | |
| 31-12-2007 | full format | 25-08-2008 | 2008-59800241 | |
| 31-12-2006 | full format | 23-08-2007 | 2007-58700232 | |
| 31-12-2005 | full format | 30-08-2006 | 2006-69803029 | |
| 31-12-2004 | full format | 28-07-2005 | 2005-58403849 | |
| 31-12-2003 | full format | 30-07-2004 | 2004-55403544 | |
| 31-12-2002 | full format | 28-07-2003 | 2003-51701599 | |
| 31-12-2001 | full format | 14-05-2003 | 2003-14301893 | |
| 31-12-2000 | full format | 19-10-2001 | 2001-64800185 | |
| 31-12-1999 | full format | 24-10-2000 | 2000-66800107 | |
| 31-12-1998 | full format | 27-09-1999 | 1999-48903189 | |
| 31-12-1997 | full format | 18-06-1999 | 1999-19602796 | |
| 31-12-1996 | full format | 18-06-1999 | 1999-19602805 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 110,723 | 119,715 | 60,794 | -672,838 | 36,329 | -196 | -224,169 | -284,811 | -24,831 | 143,272 | 385,847 | 765,385 | 152,505 | 135,480 | 64,996 | 59,026 | 160,101 | 26,720 | 57,995 | ||
| 113,874 | 102,685 | 41,860 | -693,748 | 19,745 | 2,967 | 131,627 | -282,913 | -27,348 | 139,037 | 242,781 | 463,394 | 135,454 | 104,803 | 22,754 | 47,415 | 197,352 | 41,253 | 65,656 | ||
| 15,948 | 7,952 | 17,563 | 54,888 | 22,349 | 5,926 | 12,190 | 1,950 | 1.6m | 47,455 | 6,869 | 14,166 | 4,491 | 11,460 | 132,942 | 176,967 | 724,129 | 204,816 | 121,265 | ||
| 97,491 | 798 | -8,244 | 8,650 | - | 322 | -184,088 | 156,117 | 17,255 | 1,399 | -72,021 | 79,258 | -187 | -11,309 | 8,937 | -4,630 | -1,327 | 2,040 | - | ||
| 1.4m | 1.1m | 1.0m | 1.0m | 1.8m | 1.5m | 1.5m | 1.3m | 100,465 | 920,309 | 912,070 | 679,121 | -404,127 | -655,730 | -741,702 | -622,716 | -484,366 | -19,132 | 150,237 | ||
| 90.5% | 86.7% | 86.8% | 86.8% | 88.3% | 96.0% | 93.5% | 94.3% | 51.0% | 19.7% | 19.0% | 18.4% | 16.2% | 16.8% | 18.7% | 22.0% | 29.9% | 38.7% | 54.0% | ||
| 20.37 | 15.24 | 17.26 | 18.38 | 20.18 | 24.02 | 9.74 | 12.13 | 1.04 | 1.25 | 1.24 | 1.17 | 0.91 | 0.84 | 0.78 | 0.79 | 0.75 | 0.98 | 1.23 | ||
| 0.09 | 0.13 | 0.13 | 0.12 | 0.11 | 0.02 | 0.04 | 0.03 | 0.92 | 3.99 | 4.17 | 4.32 | 5.02 | 4.78 | 4.16 | 3.36 | 2.16 | 1.50 | 0.76 | ||
| 0.9% | 2.0% | 0.0% | -24.9% | -1.0% | -1.1% | 2.3% | -9.0% | -3.3% | 7.9% | 17.7% | 37.7% | 7.0% | 3.6% | -6.2% | -2.8% | 14.8% | -2.0% | 1.8% | ||
| 0.9% | 1.7% | 0.0% | -21.6% | -0.9% | -1.1% | 2.1% | -8.5% | -1.7% | 1.5% | 3.4% | 6.9% | 1.1% | 0.6% | -1.2% | -0.6% | 4.4% | -0.8% | 1.0% | ||
| 2.79 | 5.55 | 2.59 | -26.52 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €15,948 | €7,952 | €17,563 | €54,888 |
| €61,084 | €42,863 | €42,465 | €40,320 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on S.E.B.E.R.
The operating result for 2025 is 35% lower than in 2024.
Debt's share of the balance-sheet total falls from 11.2% to 8.4%. Equity and debt are higher.
Large changes and their cause
- 2022 Net result -1,880% on 2021. The previous financial year ran 18 months, this one 12.
Board & ownership
Board
1 director, last change in 2021Director
appointed by deed of 22-02-2021
6-year term from 2021
listed in the 2025 annual accounts, filed on 10-06-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 01-02-2021
Mandates through the years
4 names, the dashed line is todayBoardEarlierRest of the termmandate already running before its first mentionend not dated
Mandates as a list
- Philippe BOUTE
- Director, appointed by deed of 22-02-2021, still in office
- SAS MALDIVES 3
- Director general, until 22-02-2021
- SASMALDIVES3
- Manager, appointed by deed of 23-01-2020, no longer listed in the 2025 annual accounts
- Jean-Marc Bricart
- Manager, until 30-06-2019
Control
Capital
- Capital
- €3,000,000
- Shares
- 28,512
- Contribution per share
- €105
- Equity per share
- €196 in 2025
- Source
- 2025 annual accounts
Articles of association
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 01-02-2021 (in French)
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “L'assemblée qui nomme fixe leur nombre, la durée de leur mandat et, en cas de pluralité, leurs pouvoirs, si la personne morale est…”deed of 01-02-2021 (in French)
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Valeur fixée par un expert choisi de commun accord ou, à défaut, par le Président du Tribunal de l'Entreprise du siège social, statuant…”deed of 01-02-2021 (in French)
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 15:00deed of 05-08-2025
Network & group
Holdings
own 2025 accountsThis companyS.E.B.E.R.1 holding, 1 country
2025 accounts
Belgium 1 Equity Result
- BE BLACK HORSE PROMOTION98% -€238,826 result €626,186
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
At the same address
Paul Emile Jansonstraat 52, 1050 Ixelles · 7 other companies| FONDATION DEMEURES ET CHATEAUX
registered office since 24-12-1998 · founded in 1998 |
2.5 FTE (2025) 0464.811.330 |
| BLACK HORSE PROMOTIONS
registered office since 28-12-2005 · founded in 2005 · negative equity (2025) |
total assets €843,047 (2025) 0878.314.214 |
| Openlaw
establishment since 03-07-2018 · founded in 2018 · accounts filed late |
total assets €183,923 (2024) 0699.542.818 |
| ASSURANCES BRUNO LEGRAIN
establishment since 23-01-2013 · founded in 2013 · accounts filed late |
turnover €46,241 (2021) 0502.712.990 |
| SPRL SOCIETE LAMINE
establishment since 18-04-2002 · founded in 2001 · accounts filed late |
total assets €140,315 (2024) 0475.418.378 |
| EDUCONSENT ASBL
registered office since 02-10-2023 |
founded in 2021 0777.781.434 |
| Goossenaerts, Alexander (sole trader)
establishment since 02-12-1996 |
founded in 1996 0823.884.742 |
Holdings and subsidiaries
1 holdingHoldings 1
Share, source and own figures per holding (1)
- BLACK HORSE PROMOTIONSsubsidiaryEquity -€238,826 Profit of €626,186 in 2025 (profit of €34,617 in 2024) Checked score 56Sourceown accounts 202598%
Holdings through the years 2006 to 2025
| Name | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BLACK HORSE PROMOTIONS | 39% | 97% | 98% | ||||||||||||||||
Source: list of holdings in its own accounts
Board mandates elsewhere
2 board mandatesBoard mandates of S.E.B.E.R.S.E.B.E.R. sits on their board2
Connections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
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Timeline
Timeline
46 events since 1989Board
Capital
Filings
Financial
19901995200020052010201520202025
2026
Registered in the Peppol Directory Reachable for e-invoices through 0208:0437426646
Annual accounts 2025 filed PDFmicro format · 51 days before the deadline
2025
Equity above €5m equity €5.6m ▲86.5% After 2 profitable years in a row, equity reaches €5.6m.
Annee Comptable2 points ▸
- General meeting, 25-06-2025
- 28,512 shares
- The deed holds 2 more points.
2024
Annual accounts 2024 filed PDFmicro format · 39 days before the deadline
Back to profit net €59,822 The net result is €59,822, after 4 loss-making years.
Annual accounts 2023 filed PDFmicro format · 28 days late
2023
Annual accounts 2022 filed PDFmicro format · 27 days late
2022
Weakest financial year net -€734,067 The net result drops to -€734,067, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2021 filed PDFmicro format · 17 days late
2021
Resignation: SAS MALDIVES 3 (director general)Appointment: Philippe BOUTE (director) · Director discharge: SAS MALDIVES 3 · General meeting of 30-01-20214 points ▸
- General meeting, 30-01-2021
- Director resignation, SAS MALDIVES 3 (director general)
- Director discharge, SAS MALDIVES 3
- Director appointment, Philippe BOUTE
Amendment of the articles · Legal-form change · Resignations & appointmentsLegal-form conversion: to private limited company · Board composition: MALDIVES 3 (director (not named in the articles))4 points ▸
- Legal-form conversion, to private limited company
- Capital conversion, 24-12-2020
- Registered office clause, rue Paul-Emile Janson 52, 1050 Ixelles
- Board composition, MALDIVES 3 (director (not named in the articles))
- The deed holds 6 more points.
2020
Annual accounts 2019 filed PDFfull format · 88 days late
New managerSASMALDIVES3 appointed, JEAN-MARC BRICART resigned · Permanent representative: JEAN-MARC BRICART · General meeting of 27-06-20194 points ▸
- General meeting, 27-06-2019
- Director resignation, JEAN-MARC BRICART (manager)
- Director appointment, SASMALDIVES3 (manager)
- Permanent representative, JEAN-MARC BRICART
2019
Liquidity more than doubled current ratio 24.02 The current ratio rises from 9.74 to 24.02. Short-term debt falls from €166,872 to €63,056.
Annual accounts 2018 filed PDFfull format · 28 days late
2018
Back to profit net €84,712 The net result is €84,712, after 2 loss-making years.
Annual accounts 2017 filed PDFmicro format · 21 days late
2017
Liquidity more than 11 times current ratio 12.13 The current ratio rises from 1.04 to 12.13. Short-term debt falls from €2.3m to €120,682.
Annual accounts 2016 filed PDFmicro format · 31 days late
2016
Equity above €2m equity €2.5m ▲128% Equity rises from €1.1m to €2.5m.
Annual accounts 2015 filed PDFfull format · 30 days late
2015
Annual accounts 2014 filed PDFfull format · 24 days late
2014
Annual accounts 2013 filed PDFfull format · 57 days late
2013
Highest result from 2006 to 2025 net €403,514 ▲532% The operating result of €705,504 and the net result of €403,514 are both a record.
Equity above €1m equity €1.1m ▲18% After 3 profitable years in a row, equity reaches €1.1m.
Annual accounts 2012 filed PDFfull format · 29 days late
2012
Annual accounts 2011 filed PDFfull format · 23 days late
2011
Back to profit net €30,409 The net result is €30,409, after 2 loss-making years.
Annual accounts 2010 filed PDFfull format · 10 days late
2010
Annual accounts 2009 filed PDFfull format · 23 days late
2009
Annual accounts 2008 filed PDFfull format · 6 days late
2008
Back to profit net €131,717 The net result is €131,717, after one loss-making year.
Annual accounts 2007 filed PDFfull format · 25 days late
2007
Annual accounts 2006 filed PDFfull format · 23 days late
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
Annual accounts 1996 filed PDFfull format
Annual accounts 1997 filed PDFfull format
1989
Incorporation published on 01-06-1989
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0437.426.646
- VAT number
- BE 0437.426.646
- Peppol ID
- 0208:0437426646
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 03-05-1989
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 15:00deed of 05-08-2025
- Peppol
- Reachable since 21-10-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- S.E.B.E.R. in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 01-02-2021 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région de Bruxelles-Capitale”deed of 01-02-2021 (in French)
Activities
NACEBEL 202568201
Renting and operating of own or leased residential real estate, excluding social housing main activity
Codes under NACEBEL 2008
68201
Real estate activities main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Distribuer à ses actionnaires un avantage patrimonial direct ou indirect; La société peut être administrateur, gérant ou liquidateur; La…”deed of 01-02-2021 (in French)
6 activities
- Distribuer à ses actionnaires un avantage patrimonial direct ou indirect.
- La société peut être administrateur, gérant ou liquidateur.
- La société peut donner à bail ses installations et exploitations ou les donner à gérer à des tiers, en tout ou en partie.
- La société a aussi pour objet la réalisation, pour son compte propre, de toutes opérations foncières et immobilières et notamment:
- L'achat, la vente, l'échange, la construction, la reconstruction, la démolition, la transformation, l'exploitation, la location et la gérance de tous immeubles bâtis, meublés ou non;
- L'achat, la vente, l'échange, la mise en valeur, le lotissement, l'exploitation, la location et l'affermage de tous immeubles non bâtis.
Registered office and establishments
| Paul Emile Jansonstraat 52 registered office 1050 Ixelles |
Buildings and parcels at the address
- Ground area
- 224 m²
- Buildings
- 224 m²
- Volume, LiDAR
- 3,606 m³
- Tallest building
- 22.2 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21447B0212/00Y003 | 224 m² | 1 · 224 m² | 22.1 m · 6 |