S.E.T.E.
ActiveSummary
S.E.T.E. has been active since 1990 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2025 annual accounts show equity of €78,778 and a net result of €6,902. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 88% of 7098 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+5
Solvency100=
Growth36=
Track record92
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 8.56 against 7.75 in 2024; short-term debt: 9.8% and cash: 55.4% of total assets), and 9.8% 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 · 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
90.2%
Return on assets
7.9%
Age of the figures
9 mo
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 30-05-2026, 62 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
62 d early
2024
25 d late
2023
36 d late
2022
28 d late
2021
10 d late
2020
54 d late
2019
138 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 33 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Strikeout withdrawal
Checked, nothing found (1)
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 25 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€25,269▼ 17.7%
2019 · €30,701
EBIT margin
152.4%
Net result
€6,902▲ 112%
2024 · €3,262
Working capital
€64,868▼ 2.2%
2024 · €66,361
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€25,269
Operating result€38,503▲ 190%€1,931▼ 95.0%€418▼ 78.4%€5,223▲ 1,150%€8,894▲ 70.3%
Net result€20,163within the sector's middle half▲ 120%€920within the sector's middle half▼ 95.4%-€147within the sector's middle half€3,262within the sector's middle half€6,902within the sector's middle half▲ 112%
EBIT margin152.4%
Equity€67,840within the sector's middle half▲ 42.3%€68,761within the sector's middle half▲ 1.4%€68,613within the sector's middle half▼ 0.2%€71,876within the sector's middle half▲ 4.8%€78,778within the sector's middle half▲ 9.6%
Total assets€94,994within the sector's middle half▼ 2.9%€82,920within the sector's middle half▼ 12.7%€82,121within the sector's middle half▼ 1.0%€81,764within the sector's middle half▼ 0.4%€87,355within the sector's middle half▲ 6.8%
Debt€27,154▲ 58.5%€14,159▼ 47.9%€13,507▼ 4.6%€9,888▼ 26.8%€8,577▼ 13.3%
Working capital€67,324within the sector's middle half▼ 16.5%€65,638within the sector's middle half▼ 2.5%€63,435within the sector's middle half▼ 3.4%€66,361within the sector's middle half▲ 4.6%€64,868within the sector's middle half▼ 2.2%
Solvency71.4%within the sector's middle half▲ 22.7pp82.9%above the sector's middle half▲ 11.5pp83.6%above the sector's middle half▲ 0.6pp87.9%above the sector's middle half▲ 4.4pp90.2%above the sector's middle half▲ 2.3pp
Current ratio3.49within the sector's middle half▼ 2.225.65above the sector's middle half▲ 2.175.72above the sector's middle half▲ 0.077.75above the sector's middle half▲ 2.038.56above the sector's middle half▲ 0.81
Return on assets (ROA)21.2%within the sector's middle half▲ 11.9pp1.1%within the sector's middle half▼ 20.1pp-0.2%below the sector's middle half▼ 1.3pp4.0%within the sector's middle half▲ 4.2pp7.9%within the sector's middle half▲ 3.9pp
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.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 70% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €87,355
Fixed assets
€13,910 ▲ 149%
Current assets
€73,445 ▼ 3.6%
Equity and liabilities €87,355
Equity
€78,778 ▲ 9.6%
Debt
€8,577 ▼ 13.3%
Debt's share of the balance-sheet total falls from 12.1% to 9.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,625▲
2024 · €5,877
Cash flow
€7,633▲
2024 · €3,917
Debt to equity
0.11▼
2024 · 0.14
ROE
8.8%▲
2024 · 4.5%
Interest coverage
23.06▲
2024 · 15.25
Debt ≤ 1 year
€8,576▼
2024 · €9,827
Income taxes
€1,575=
2024 · €1,575
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% 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
0.5%
went bankrupt
5.9%
stopped otherwise
93%
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 0.3% 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 497,338 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% | 1.9% |
| 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 31,370 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €25,269 | - | - | - | - | - |
| Non-recurring operating income76A | €32,998 | - | - | - | €6,278 | - |
| Goods, raw materials, services and sundry goods60/61 | €17,039 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48 | €361 | €441 | €654 | €731 | ▲ 11.7% |
| Other operating charges640/8 | €2,678 | €2,534 | €2,426 | €3,281 | €3,340 | ▲ 1.8% |
| Gross operating margin9900 | €41,229 | €4,826 | €3,285 | €9,158 | €12,965 | ▲ 41.6% |
| Operating profit (loss)9901 | €38,503 | €1,931 | €418 | €5,223 | €8,894 | ▲ 70.3% |
| Financial income75/76B | €10 | - | €0 | - | €0 | - |
| Recurring financial income75 | €10 | - | €0 | - | €0 | - |
| Financial charges65/66B | €265 | €345 | €358 | €385 | €417 | ▲ 8.3% |
| Recurring financial charges65 | €265 | €345 | €358 | €385 | €417 | ▲ 8.3% |
| Profit (loss) for the period before taxes9903 | €38,248 | €1,586 | €60 | €4,837 | €8,477 | ▲ 75.2% |
| Income taxes67/77 | €18,085 | €666 | €207 | €1,575 | €1,575 | = |
| Profit (loss) for the period9904 | €20,163 | €920 | -€147 | €3,262 | €6,902 | ▲ 112% |
| Profit (loss) for the period to be appropriated9905 | €20,163 | €920 | -€147 | €3,262 | €6,902 | ▲ 112% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €94,994 | €82,920 | €82,121 | €81,764 | €87,355 | ▲ 6.8% |
| Fixed assets21/28 | €579 | €3,171 | €5,247 | €5,576 | €13,910 | ▲ 149% |
| Tangible fixed assets22/27 | €579 | €3,171 | €5,247 | €5,576 | €13,910 | ▲ 149% |
| Land and buildings22 | - | €2,801 | €4,649 | €5,289 | €13,773 | ▲ 160% |
| Plant, machinery and equipment23 | €579 | €370 | €598 | €287 | €137 | ▼ 52.1% |
| Current assets29/58 | €94,415 | €79,748 | €76,874 | €76,188 | €73,445 | ▼ 3.6% |
| Amounts receivable after more than one year29 | - | - | €13,500 | - | - | - |
| Other amounts receivable291 | - | - | €13,500 | - | - | - |
| Amounts receivable within one year40/41 | €1,771 | €1,599 | €3,892 | €21,357 | €24,710 | ▲ 15.7% |
| Trade receivables40 | - | - | €1,000 | - | - | - |
| Other amounts receivable41 | €1,771 | €1,599 | €2,892 | €21,357 | €24,710 | ▲ 15.7% |
| Cash at bank and in hand54/58 | €90,812 | €77,877 | €58,459 | €53,704 | €48,380 | ▼ 9.9% |
| Deferred charges and accrued income490/1 | €1,832 | €272 | €1,023 | €1,127 | €354 | ▼ 68.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €94,994 | €82,920 | €82,121 | €81,764 | €87,355 | ▲ 6.8% |
| Equity10/15 | €67,840 | €68,761 | €68,613 | €71,876 | €78,778 | ▲ 9.6% |
| Contributions10/11 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Capital10 | €37,184 | €37,184 | €37,184 | €37,184 | - | - |
| Issued capital100 | €37,184 | €37,184 | €37,184 | €37,184 | - | - |
| Outside capital11 | - | - | - | - | €37,184 | - |
| Other1109/19 | - | - | - | - | €37,184 | - |
| Reserves13 | €10,493 | €10,493 | €10,493 | €13,756 | €13,756 | = |
| Distributable reserves133 | €10,493 | €10,493 | €10,493 | €13,756 | €13,756 | = |
| Profit (loss) carried forward14 | €20,163 | €21,083 | €20,936 | €20,936 | €27,838 | ▲ 33.0% |
| Amounts payable17/49 | €27,154 | €14,159 | €13,507 | €9,888 | €8,577 | ▼ 13.3% |
| Amounts payable within one year42/48 | €27,091 | €14,110 | €13,440 | €9,827 | €8,576 | ▼ 12.7% |
| Trade debts44 | €16,618 | €4,726 | €192 | €2,423 | €1,172 | ▼ 51.6% |
| Suppliers440/4 | €16,618 | €4,726 | €192 | €2,423 | €1,172 | ▼ 51.6% |
| Taxes, remuneration and social security45 | - | - | - | €1,575 | €1,575 | = |
| Taxes450/3 | - | - | - | €1,575 | €1,575 | = |
| Other amounts payable47/48 | €10,472 | €9,384 | €13,248 | €5,829 | €5,829 | = |
| Accrued charges and deferred income492/3 | €63 | €49 | €68 | €62 | €0 | ▼ 99.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,163 | €920 | -€147 | €3,262 | €6,902 | ▲ 112% |
| + Depreciation and write-downs630 | €48 | €361 | €441 | €654 | €731 | ▲ 11.7% |
| Operating cash flow (approximation) | €20,210 | €1,281 | €294 | €3,917 | €7,633 | ▲ 94.9% |
| Investment in fixed assets (approximation) | - | -€2,953 | -€2,516 | -€984 | -€9,064 | ▼ 821% |
| Change in cash | - | -€12,934 | -€19,419 | -€4,754 | -€5,324 | ▼ 12.0% |
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
30-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Back to profitnet €3,262
Net result €3,262 after one loss-making year.
05-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 36 days late
2023
31-12
Financial
Weakest financial yearnet -€147
Net result drops to -€147, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
31-12
Financial
Highest result since 2020net €20,163 ▲120%
Operating result €38,503, net result €20,163, both a record.
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 54 days late
2020
16-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 138 days late
2019
08-03
KBO administration
Strikeout withdrawal
event 15-02-2019
15-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 199 days late
08-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 557 days late
08-02
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 922 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Liège
Ground area
78 m²
Building footprint
41 m²
Volume, LiDAR
649 m³
Parcel 62063B0690/00C000, Wallonia · tallest building 18.6 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62063B0690/00C000 | Wallonia | 78 m² | 1 · 41 m² | 18.6 m · 5 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 2,710 companies in sector 73200 we hold annual accounts for 1,787. 1,276 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
Founded18-06-1990
Fiscal year end31-12
Activities, NACEBEL 2025
73200Market research and public opinion polling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440793734
Registered
12-05-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.