S.E. TRACK
ActiveSummary
S.E. TRACK has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €349k and a net result of €171k. Equity is growing by ~36.6% per year across the filed fiscal years. Its solvency ranks better than 47% of 3136 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+11
Solvency55▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.4 in 2024; short-term debt: 35.9% and cash: 2.5% of total assets), and 70.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
29.8%
Return on assets
14.6%
Age of the figures
9 mo
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
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 29-07-2026, 2 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
2 d early
2024
6 d early
2023
29 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€349k▲ 68.1%
2024 · €207k
2023: €197klowest in 3 years
2024: €207k▲ +5.3% vs 2023
2025: €349k▲ +68.1% vs 2024highest in 3 years
2023 → 2025
Total assets
€1.17M▲ 58.1%
2024 · €740k
2023: €565klowest in 3 years
2024: €740k▲ +31.0% vs 2023
2025: €1.17M▲ +58.1% vs 2024highest in 3 years
2023 → 2025
Net result
€171k▲ 322%
2024 · €41k
2023: €53k
2024: €41k▼ -22.9% vs 2023lowest in 3 years
2025: €171k▲ +322% vs 2024highest in 3 years
2023 → 2025
Working capital
€102k▼ 3.8%
2024 · €106k
2023: €93klowest in 3 years
2024: €106k▲ +13.7% vs 2023highest in 3 years
2025: €102k▼ -3.8% vs 2024
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€197k-€207k▲ 5.3%€349k▲ 68.1%
2023: €197klowest in 3 years
2024: €207k▲ +5.3% vs 2023
2025: €349k▲ +68.1% vs 2024highest in 3 years
Operating result€73k-€52k▼ 29.2%€248k▲ 377%
2023: €73k
2024: €52k▼ -29.2% vs 2023lowest in 3 years
2025: €248k▲ +377% vs 2024highest in 3 years
Net result€53k-€41k▼ 22.9%€171k▲ 322%
2023: €53k
2024: €41k▼ -22.9% vs 2023lowest in 3 years
2025: €171k▲ +322% vs 2024highest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 377% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.17M
Fixed assets
€648k ▲ 76.1%
Current assets
€521k ▲ 40.2%
Equity and liabilities €1.17M
Equity
€349k ▲ 68.1%
Debt
€821k ▲ 54.2%
Debt's share of the balance-sheet total falls from 72.0% to 70.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€401k▲
2024 · €153k
Cash flow
€324k▲
2024 · €141k
Current ratio
1.24▼
2024 · 1.40
Debt to equity
2.35▼
2024 · 2.57
ROE
49.1%▲
2024 · 19.5%
ROA
14.6%▲
2024 · 5.5%
Interest coverage
22.21▲
2024 · 12.85
Debt ≤ 1 year
€420k▲
2024 · €266k
Debt > 1 year
€401k▲
2024 · €266k
Income taxes
€64k▲
2024 · €5k
Staff costs
€251k▲
2024 · €117k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€740k€1.17M▲
Fixed assets21/28€368k€648k▲
Tangible fixed assets22/27€368k€648k▲
Plant, machinery and equipment23€39k€52k▲
Furniture and vehicles24€234k€534k▲
Leasing and similar rights25€49k€21k▼
Other tangible fixed assets26€46k€42k▼
Current assets29/58€372k€521k▲
Amounts receivable within one year40/41€316k€485k▲
Trade receivables40€220k€362k▲
Other amounts receivable41€96k€122k▲
Cash at bank and in hand54/58€45k€29k▼
Deferred charges and accrued income490/1€10k€7k▼
Equity and liabilities
Total equity and liabilities10/49€740k€1.17M▲
Equity10/15€207k€349k▲
Contributions10/11€50€50=
Reserves13€207k€349k▲
Tax-exempt reserves132€13k€13k=
Distributable reserves133€195k€336k▲
Amounts payable17/49€532k€821k▲
Amounts payable after more than one year17€266k€401k▲
Financial debts170/4€202k€355k▲
Other amounts payable178/9€64k€46k▼
Amounts payable within one year42/48€266k€420k▲
Current portion of amounts payable after more than one year42€124k€159k▲
Trade debts44€107k€194k▲
Suppliers440/4€107k€194k▲
Taxes, remuneration and social security45€35k€67k▲
Taxes450/3€19k€40k▲
Remuneration and social security454/9€16k€27k▲
Income statement
Code20242025
Remuneration, social security and pensions62€117k€251k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€101k€153k▲
Other operating charges640/8€18k€34k▲
Gross operating margin9900€287k€685k▲
Operating profit (loss)9901€52k€248k▲
Financial income75/76B€5k€5k▲
Recurring financial income75€5k€5k▲
Financial charges65/66B€12k€18k▲
Recurring financial charges65€12k€18k▲
Profit (loss) for the period before taxes9903€45k€235k▲
Income taxes67/77€5k€64k▲
Profit (loss) for the period9904€41k€171k▲
Profit (loss) for the period to be appropriated9905€41k€171k▲
Appropriation of the result
Profit (loss) to be appropriated9906€41k€171k▲
Transfer to equity691/2€11k€141k▲
To other reserves6921€11k€141k▲
Profit to be distributed694/7€30k€30k=
Directors or managers695€30k€30k=
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €21k | - | - | - |
| Remuneration, social security and pensions62 | €20k | €117k | €251k | ▲ 115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €83k | €101k | €153k | ▲ 51.8% |
| Other operating charges640/8 | €9k | €18k | €34k | ▲ 87.0% |
| Gross operating margin9900 | €185k | €287k | €685k | ▲ 139% |
| Operating profit (loss)9901 | €73k | €52k | €248k | ▲ 377% |
| Financial income75/76B | €3k | €5k | €5k | ▲ 2.9% |
| Recurring financial income75 | €3k | €5k | €5k | ▲ 2.9% |
| Financial charges65/66B | €11k | €12k | €18k | ▲ 52.0% |
| Recurring financial charges65 | €11k | €12k | €18k | ▲ 52.0% |
| Profit (loss) for the period before taxes9903 | €66k | €45k | €235k | ▲ 422% |
| Income taxes67/77 | €14k | €5k | €64k | ▲ 1,309% |
| Profit (loss) for the period9904 | €53k | €41k | €171k | ▲ 322% |
| Profit (loss) for the period to be appropriated9905 | €53k | €41k | €171k | ▲ 322% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €565k | €740k | €1.17M | ▲ 58.1% |
| Fixed assets21/28 | €303k | €368k | €648k | ▲ 76.1% |
| Tangible fixed assets22/27 | €303k | €368k | €648k | ▲ 76.1% |
| Plant, machinery and equipment23 | €33k | €39k | €52k | ▲ 32.2% |
| Furniture and vehicles24 | €194k | €234k | €534k | ▲ 128% |
| Leasing and similar rights25 | €76k | €49k | €21k | ▼ 57.5% |
| Other tangible fixed assets26 | - | €46k | €42k | ▼ 8.1% |
| Current assets29/58 | €262k | €372k | €521k | ▲ 40.2% |
| Amounts receivable within one year40/41 | €180k | €316k | €485k | ▲ 53.2% |
| Trade receivables40 | €107k | €220k | €362k | ▲ 64.6% |
| Other amounts receivable41 | €72k | €96k | €122k | ▲ 27.1% |
| Cash at bank and in hand54/58 | €50k | €45k | €29k | ▼ 36.1% |
| Deferred charges and accrued income490/1 | €32k | €10k | €7k | ▼ 25.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €565k | €740k | €1.17M | ▲ 58.1% |
| Equity10/15 | €197k | €207k | €349k | ▲ 68.1% |
| Contributions10/11 | €50 | €50 | €50 | = |
| Reserves13 | €197k | €207k | €349k | ▲ 68.1% |
| Tax-exempt reserves132 | €13k | €13k | €13k | = |
| Distributable reserves133 | €184k | €195k | €336k | ▲ 72.5% |
| Amounts payable17/49 | €368k | €532k | €821k | ▲ 54.2% |
| Amounts payable after more than one year17 | €198k | €266k | €401k | ▲ 50.7% |
| Financial debts170/4 | €194k | €202k | €355k | ▲ 75.7% |
| Other amounts payable178/9 | €4k | €64k | €46k | ▼ 28.1% |
| Amounts payable within one year42/48 | €169k | €266k | €420k | ▲ 57.6% |
| Current portion of amounts payable after more than one year42 | €103k | €124k | €159k | ▲ 27.9% |
| Trade debts44 | €58k | €107k | €194k | ▲ 81.7% |
| Suppliers440/4 | €58k | €107k | €194k | ▲ 81.7% |
| Taxes, remuneration and social security45 | €8k | €35k | €67k | ▲ 89.5% |
| Taxes450/3 | €2k | €19k | €40k | ▲ 108% |
| Remuneration and social security454/9 | €6k | €16k | €27k | ▲ 67.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €53k | €41k | €171k | ▲ 322% |
| + Depreciation and write-downs630 | €83k | €101k | €153k | ▲ 51.8% |
| Operating cash flow (approximation) | €135k | €141k | €324k | ▲ 130% |
| Investment in fixed assets (approximation) | - | €-166k | €-433k | ▼ 161% |
| Change in cash | - | €-4k | €-16k | ▼ 273% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €171k ▲322%
Operating result €248k, net result €171k, both a record.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €41k ▼22.9%
Net result drops to €41k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €200kEq €207k ▲5.3%
2 profitable years in a row build equity to €207k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 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, Middelkerke · 1 establishment unit since 2011
Ground area
4,178 m²
Building footprint
388 m²
Volume, LiDAR
1,775 m³
2 parcels, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
S.E. TRACK
since 20112.204.494.848
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35018C0119/00F000 | Flanders | 3,098 m² | 1 · 202 m² | 8.0 m · 1 fl. |
| 35018C0518/00L000 | Flanders | 1,080 m² | 1 · 187 m² | 10.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,949 EUR awarded · 1,813 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 158 EUR | 158 EUR |
| 2024 | 1 | 234 EUR | 98 EUR |
| 2023 | 1 | 1,557 EUR | 1,557 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteMiddelkerke2.204.494.848
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Of 20,587 companies in sector 01500 we hold annual accounts for 1,149. 935 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
Founded25-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
01500Mixed farming
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.