Checked.be
Active
BE 0433.303.453Private limited company
S.E. PROJECTS
Middelmolenlaan 88 ·2100 Antwerpen, Belgium· 38 yrs active
Sector: Activities of head offices
(70100)
Conclusion
S.E. PROJECTS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €381k and a net result of €15k. Equity is growing by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 58% of 8073 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €381k |
| Net result | €15k |
| Better than sector | 58% |
| Active | 38 yrs |
Financial profile
76
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
19
Solvency
99
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1988, 38 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€35k
estimate, not credit advice
Score history
86
2021
94
2022
94
2023
86
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 3.35 (≥ 1.5)
+10
Quick ratio
Quick ratio 3.35 (≥ 1.0)
+5
Leverage
Debt/equity 0.60 (< 1.0)
+10
Profitability
ROE 4%
+3
Interest coverage
Interest coverage 5.4× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 23-04-2025 with the NBB · fiscal year 2024 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~4.6%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 62.4% | 53.8% | |
| Net result | €15k | €46k | |
| Equity | €381k | €443k | |
| Gross operating margin | €66k | €99k | |
| Total assets | €611k | €1.12M |
€62k
-10.9%
21-24
€15k
-32.3%
21-24
€47k
-15.4%
21-24
€611k
-4.1%
21-24
€381k
+4.0%
21-24
€98k
-8.5%
21-24
€3k
+14.6%
21-24
€230k
-15.1%
21-24
€42k
-5.6%
21-24
€183k
-17.2%
21-24
3.35
-2.1%
21-24
3.35
-2.1%
21-24
62.4%
+8.4%
21-24
0.60
-18.4%
21-24
3.8%
-34.9%
21-24
2.4%
-29.4%
21-24
5.40
-17.3%
21-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €62k | €70k | €55k | €48k |
| Net profit | €15k | €22k | €12k | €4k |
| Cash flow | €47k | €56k | €44k | €35k |
| Staff costs | - | - | - | - |
| Income taxes | €3k | €3k | €-418 | €3k |
| Dividends | - | - | - | - |
| Total assets | €611k | €637k | €656k | €649k |
| Equity | €381k | €367k | €345k | €334k |
| Debt | €230k | €271k | €311k | €316k |
| of which ≤ 1y | €42k | €44k | €45k | €34k |
| of which > 1y | €183k | €221k | €260k | €279k |
| Working capital | €98k | €107k | €106k | €105k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 3.35 | 3.42 | 3.32 | 4.08 |
| Quick ratio | 3.35 | 3.42 | 3.32 | 4.08 |
| Working capital ratio | 16.0% | 16.8% | 16.1% | 16.1% |
| Solvency | 62.4% | 57.6% | 52.6% | 51.4% |
| Debt / equity | 0.60 | 0.74 | 0.90 | 0.95 |
| Long-term debt ratio | 0.48 | 0.60 | 0.75 | 0.84 |
| Interest coverage | 5.40 | 6.53 | 4.99 | 4.95 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 2.4% | 3.4% | 1.8% | 0.6% |
| ROE | 3.8% | 5.9% | 3.4% | 1.2% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €611k | €637k | €656k | €649k |
| Fixed assets | 21/28 | €471k | €486k | €505k | €511k |
| Tangible fixed assets | 22/27 | €471k | €486k | €505k | €511k |
| Current assets | 29/58 | €140k | €151k | €151k | €139k |
| Amounts receivable within one year | 40/41 | €59k | €37k | €136k | €129k |
| Cash & bank | 54/58 | €16k | €19k | €15k | €10k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €611k | €637k | €656k | €649k |
| Equity | 10/15 | €381k | €367k | €345k | €334k |
| Contributions / capital | 10/11 | €275k | €275k | €275k | €275k |
| Reserves | 13 | €106k | €91k | €54k | €54k |
| Accumulated profits (losses) | 14 | - | €1k | €17k | €5k |
| Amounts payable | 17/49 | €230k | €271k | €311k | €316k |
| Amounts payable after one year | 17 | €183k | €221k | €260k | €279k |
| Amounts payable within one year | 42/48 | €42k | €44k | €45k | €34k |
| Trade debts payable within one year | 44 | €3k | €4k | €7k | €4k |
| Income statement | |||||
| Gross operating margin | 9900 | €66k | €74k | €62k | €53k |
| Operating result | 9901 | €29k | €35k | €22k | €16k |
| Financial income | 75 | €159 | - | - | €23 |
| Financial charges | 65 | €11k | €11k | €11k | €10k |
| Result before taxes | 9903 | €18k | €24k | €11k | €7k |
| Income taxes | 67/77 | €3k | €3k | €-418 | €3k |
| Net result for the period | 9904 | €15k | €22k | €12k | €4k |
| Result to be appropriated | 9905 | €15k | €22k | €12k | €4k |
Directors & mandates
Current directors & mandates
-
SEL PaulDirectorState Gazette act 23444067 (04-12-2023)Current04-12-2023 → present
Legal Structure
| NACE primary | Activities of head offices(70100) |
| Legal form | Private limited company(610) |
| Incorporation | 10-02-1988 |
| Status | Active |
| Postal code | 2100 |
Establishment units
S.E. PROJECTS
since 19882.036.766.606
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11012A0280/00T004 | Flanders | 240 m² | 1 · 211 m² | 8.7 m · 1 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
23-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2021net €22k ▲86%
Operating result €35k, net result €22k, both a record.
04-12
State Gazette act
Director changes
Tania PORTIER
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
16-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 77 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2023
04-12-2023 SEL Paul appointed as director
- SEL Paul, Bestuurder
Notary:
Tania PORTIER · MalleFirm:
Notariaat Noma
Technical details
{
"events": [
{
"kind": "substantive_delegation",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "SEL Paul John Marie",
"address": "2900 Schoten, Louis Vervoortlaan 41",
"birth_date": "1956-03-26",
"profession": null,
"birth_place": "Mortsel"
},
"reason": null,
"subkind": "additional",
"via_org": null,
"statutory": "niet_statutair",
"compensated": false,
"effective_date": null,
"evidence_quote": "",
"decharge_status": null,
"mandate_duration": {
"kind": "indefinite",
"value": null
},
"rep_rotation_new_rep": null,
"rep_rotation_old_rep": null,
"effective_date_qualifier": null
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": "23444067",
"name": "SEL Paul",
"address": null,
"birth_date": null,
"profession": null,
"birth_place": null
},
"reason": null,
"subkind": "additional",
"via_org": null,
"statutory": "niet_statutair",
"compensated": false,
"effective_date": null,
"evidence_quote": "",
"decharge_status": null,
"mandate_duration": {
"kind": "indefinite",
"value": null
},
"rep_rotation_new_rep": null,
"rep_rotation_old_rep": null,
"effective_date_qualifier": null
}
],
"notary": {
"name": "Tania PORTIER",
"firm_city": null,
"firm_name": "Notariaat Noma",
"office_city": "Malle",
"is_associated": true
},
"act_meta": {
"language": "nl",
"pub_date": "2023-12-04",
"filing_date": "2023-11-30",
"act_kind_objet": "Onderwerp akte:"
},
"decisions": [
{
"body": "buitengewone_algemene_vergadering",
"date": "2023-11-27",
"unanimous": true
}
],
"is_correction": false,
"subject_company": {
"kbo": "0433.303.453",
"name_full": "S.E. PROJECTS",
"legal_form": "BV"
},
"publication_proxy": {
"kind": "org",
"org_kbo": "0805.413.665",
"org_name": "Notariaat Noma",
"person_name": null,
"org_rep_person_name": null,
"person_role_at_subject": null
},
"co_filed_documents": [
"Afschrift van de akte",
"Verslag bestuursorgaan",
"Geco\u00F6rdineerde statuten"
],
"corrected_publication_numac": null
}Credit advice
Company registry (CBE)
Activities
Activities of head offices70100
Names & trade names
| Legal nameNL | S.E. PROJECTS |
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