S-F CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of S-F CONSTRUCT is 2.6% (moderate). For S-F CONSTRUCT, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€36,256) and a net result of -€2,298. Equity is shrinking by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 33680 sector peers (fiscal year 2023). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability21▲+21
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
-299.8%
Return on assets
-19%
Age of the figures
33 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 28-05-2024, 64 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
64 d early
2022
12 d early
2021
59 d early
2020
15 d early
2019
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 31 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2023, micro schema
Turnover
€125,857
EBIT margin
7.3%
Net result
-€2,298▲ 88.4%
2022 · -€19,791
Working capital
-€11,756▲ 6.9%
2022 · -€12,631
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20192020202120222023
Turnover€125,857
Operating result-€5,622€9,250-€1,724-€19,799▼ 1,048%-€1,721▲ 91.3%
Net result-€9,478€5,263within the sector's middle half-€2,385below the sector's middle half-€19,791below the sector's middle half▼ 730%-€2,298below the sector's middle half▲ 88.4%
EBIT margin7.3%
Equity-€29,446▼ 47.5%-€24,182below the sector's middle half▲ 17.9%-€26,567below the sector's middle half▼ 9.9%-€33,958below the sector's middle half▼ 27.8%-€36,256below the sector's middle half▼ 6.8%
Total assets€50,115▲ 31.9%€70,854within the sector's middle half▲ 41.4%€54,796below the sector's middle half▼ 22.7%€11,923below the sector's middle half▼ 78.2%€12,093below the sector's middle half▲ 1.4%
Debt€79,560▲ 37.3%€95,037▲ 19.5%€81,363▼ 14.4%€45,881▼ 43.6%€48,349▲ 5.4%
Working capital-€8,976▼ 1,773%-€12,084below the sector's middle half▼ 34.6%-€12,060below the sector's middle half▲ 0.2%-€12,631below the sector's middle half▼ 4.7%-€11,756below the sector's middle half▲ 6.9%
Solvency-58.8%▼ 6.2pp-34.1%below the sector's middle half▲ 24.6pp-48.5%below the sector's middle half▼ 14.4pp-284.8%below the sector's middle half▼ 236.3pp-299.8%below the sector's middle half▼ 15.0pp
Current ratio0.84▼ 0.150.82below the sector's middle half▼ 0.020.79below the sector's middle half▼ 0.030.41below the sector's middle half▼ 0.380.51below the sector's middle half▲ 0.10
Return on assets (ROA)-18.9%▼ 83.2pp7.4%within the sector's middle half▲ 26.3pp-4.4%below the sector's middle half▼ 11.8pp-166.0%below the sector's middle half▼ 161.6pp-19.0%below the sector's middle half▲ 147.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,721 in 2023 against €19,799 in 2022; the loss shrinks.
Key figures and ratios
EBITDA
€1,452▲
2022 · -€14,897
Cash flow
€875▲
2022 · -€14,890
Debt to equity
-1.33▲
2022 · -1.35
Interest coverage
2.52▲
2022 · -20.69
Debt ≤ 1 year
€23,849▲
2022 · €21,381
Debt > 1 year
€24,500=
2022 · €24,500
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €125,857 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,682 | €4,671 | €6,192 | €4,901 | €3,173 | ▼ 35.3% |
| Other operating charges640/8 | - | - | €449 | €450 | €109 | ▼ 75.8% |
| Gross operating margin9900 | -€495 | €14,369 | €4,916 | -€14,448 | €1,561 | ▲ 111% |
| Operating profit (loss)9901 | -€5,622 | €9,250 | -€1,724 | -€19,799 | -€1,721 | ▲ 91.3% |
| Financial income75/76B | - | - | €372 | €728 | €0 | ▼ 100.0% |
| Recurring financial income75 | €711 | €419 | €372 | €728 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | - | €1,033 | €720 | €576 | ▼ 20.0% |
| Recurring financial charges65 | €4,567 | €4,406 | €1,033 | €720 | €576 | ▼ 20.0% |
| Profit (loss) for the period before taxes9903 | -€9,478 | €5,263 | -€2,385 | -€19,791 | -€2,298 | ▲ 88.4% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€9,478 | €5,263 | -€2,385 | -€19,791 | -€2,298 | ▲ 88.4% |
| Profit (loss) for the period to be appropriated9905 | -€9,478 | €5,263 | -€2,385 | -€19,791 | -€2,298 | ▲ 88.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €50,115 | €70,854 | €54,796 | €11,923 | €12,093 | ▲ 1.4% |
| Fixed assets21/28 | €4,030 | €16,184 | €9,992 | €3,173 | - | - |
| Tangible fixed assets22/27 | €4,030 | €16,184 | €9,992 | €3,173 | - | - |
| Plant, machinery and equipment23 | - | - | €797 | €212 | - | - |
| Furniture and vehicles24 | - | - | €9,195 | €2,960 | - | - |
| Current assets29/58 | €46,085 | €54,670 | €44,803 | €8,750 | €12,093 | ▲ 38.2% |
| Stocks and contracts in progress3 | €12,547 | €12,547 | €12,547 | - | - | - |
| Stocks30/36 | - | - | €12,547 | - | - | - |
| Amounts receivable within one year40/41 | €22,527 | €17,911 | €32,255 | €5,680 | €1,984 | ▼ 65.1% |
| Trade receivables40 | - | - | €29,708 | €5,680 | €1,984 | ▼ 65.1% |
| Other amounts receivable41 | - | - | €2,548 | - | - | - |
| Cash at bank and in hand54/58 | €11 | €24,212 | €1 | €3,070 | €10,109 | ▲ 229% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €50,115 | €70,854 | €54,796 | €11,923 | €12,093 | ▲ 1.4% |
| Equity10/15 | -€29,446 | -€24,182 | -€26,567 | -€33,958 | -€36,256 | ▼ 6.8% |
| Contributions10/11 | €6,200 | - | €6,200 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€35,646 | -€30,382 | -€32,767 | -€52,558 | -€54,856 | ▼ 4.4% |
| Amounts payable17/49 | €79,560 | €95,037 | €81,363 | €45,881 | €48,349 | ▲ 5.4% |
| Amounts payable after more than one year17 | €24,500 | €28,283 | €24,500 | €24,500 | €24,500 | = |
| Financial debts170/4 | - | - | €24,500 | €24,500 | €24,500 | = |
| Amounts payable within one year42/48 | €55,060 | €66,754 | €56,863 | €21,381 | €23,849 | ▲ 11.5% |
| Current portion of amounts payable after more than one year42 | - | - | €3,783 | - | - | - |
| Financial debts43 | - | - | €986 | - | - | - |
| Credit institutions430/8 | - | - | €986 | - | - | - |
| Trade debts44 | €35,333 | €15,410 | €22,604 | €5,140 | €1,714 | ▼ 66.6% |
| Suppliers440/4 | - | - | €22,604 | €5,140 | €1,714 | ▼ 66.6% |
| Taxes, remuneration and social security45 | - | - | €1,232 | €1,179 | €297 | ▼ 74.8% |
| Taxes450/3 | - | - | €82 | €1,179 | €297 | ▼ 74.8% |
| Remuneration and social security454/9 | - | - | €1,150 | - | - | - |
| Other amounts payable47/48 | - | - | €28,258 | €15,062 | €21,837 | ▲ 45.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,478 | €5,263 | -€2,385 | -€19,791 | -€2,298 | ▲ 88.4% |
| + Depreciation and write-downs630 | €4,682 | €4,671 | €6,192 | €4,901 | €3,173 | ▼ 35.3% |
| Operating cash flow (approximation) | -€4,796 | €9,935 | €3,807 | -€14,890 | €875 | ▲ 106% |
| Investment in fixed assets (approximation) | - | -€16,826 | €0 | €1,918 | - | - |
| Change in cash | - | €24,201 | -€24,211 | €3,069 | €7,039 | ▲ 129% |
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
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€19,791
Net result drops to -€19,791, the lowest in the series; recovery starts the following year.
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €5,263
Net result €5,263 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
04-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
06-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Ranst · 1 establishment unit since 2007
Ground area
2,967 m²
Building footprint
198 m²
Volume, LiDAR
931 m³
Parcel 11035A0167/00L000, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SF Construct
since 20072.161.699.042
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11035A0167/00L000 | Flanders | 2,966 m² | 1 · 198 m² | 6.3 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded23-03-2007
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43332Laying of wooden floor and wall coverings
43350Other building finishing work
Contact
E-mail
info@denherman.be
Phone
+32496252375
Fax
+3233221375
Phone
0476/65.22.73Ranst
E-invoicing
Not found in the Peppol register
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.