S.I.W.
ActiveS.I.W. has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €980k and a net result of €71. Equity is shrinking by ~3.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2022
Profitability0=
Solvency67▼-33
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days only on tighter terms
Liquidity short (current ratio 0.1 against 3.88 in 2022), and 27.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
72.6%
Return on assets
0%
Age of the figures
10 mo
neutral · Filed after the deadline
The financial year that closed on 01-11-2025 was due by 01-06-2026 and was filed on 30-06-2026, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
29 d late
2022
58 d late
2021
58 d late
2020
117 d late
2019
112 d late
2018
35 d late
2017
8 d late
← before the deadline
after the deadline →
Financials · fiscal year 2025, micro schema
Equity
€980k▼ 7.8%
2022 · €1.06M
2018: €1.25M
2019: €1.21M
2020: €1.14M
2021: €1.09M
2022: €1.06M
2018 → 2025
Total assets
€1.35M▼ 12.1%
2022 · €1.54M
2018: €1.87M
2019: €2.08M
2020: €1.65M
2021: €1.73M
2022: €1.54M
2018 → 2025
Net result
€71
2022 · €-22k
2018: €-15k
2019: €-42k
2020: €313k
2021: €-58k
2022: €-22k
2018 → 2025
Working capital
€-114k
2022 · €23k
2018: €104k
2019: €199k
2020: €325k
2021: €27k
2022: €23k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222025Trend
Equity€1.21M-€1.14M▼ 5.3%€1.09M▼ 5.1%€1.06M▼ 2.1%€980k▼ 7.8%
Operating result€-35k-€449k€-62k€-24k▲ 61.4%€-53k▼ 123%
Net result€-42k-€313k€-58k€-22k▲ 62.0%€71
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €53k in 2025 against €24k in 2022; the loss grows.
Balance-sheet composition
2025 in colour, 2022 as the grey bar beneath
Assets €1.35M
Fixed assets
€1.34M▼ 11.2%
Current assets
€13k▼ 57.8%
Equity and liabilities €1.35M
Equity
€980k▼ 7.8%
Provisions
€57k▼ 72.2%
Debt
€313k▲ 17.1%
The debt ratio rises from 17.4% to 23.2%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-34k▼
2022 · €243
Cash flow
€20k▲
2022 · €2k
Solvency
72.6%▲
2022 · 69.2%
Current ratio
0.10▼
2022 · 3.88
Quick ratio
0.10▼
2022 · 3.88
Debt / equity
0.32▲
2022 · 0.25
ROE
0.0%▲
2022 · -2.1%
ROA
0.0%▲
2022 · -1.4%
Interest coverage
-2.91▼
2022 · 0.05
Debt
€313k▲
2022 · €267k
Debt ≤ 1 year
€127k▲
2022 · €8k
Debt > 1 year
€185k▼
2022 · €259k
Income taxes
€73k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2022
Balance sheet
Code20222025
Assets
Total assets20/58€1.54M€1.35M▼
Fixed assets21/28€1.51M€1.34M▼
Tangible fixed assets22/27€424k€365k▼
Land and buildings22€424k€364k▼
Furniture and vehicles24-€674
Financial fixed assets28€1.08M€972k▼
Current assets29/58€31k€13k▼
Stocks and contracts in progress3€1€1=
Stocks30/36€1€1=
Amounts receivable within one year40/41€28k€3k▼
Trade receivables40€28k€3k▼
Cash at bank and in hand54/58€3k€9k▲
Deferred charges and accrued income490/1€174€1k▲
Equity and liabilities
Total equity and liabilities10/49€1.54M€1.35M▼
Equity10/15€1.06M€980k▼
Contributions10/11€529k€529k=
Capital10€529k€529k=
Issued capital100€529k€529k=
Revaluation surpluses12€100k€100k=
Reserves13€786k€349k▼
Tax-exempt reserves132€573k€136k▼
Distributable reserves133€213k€213k=
Profit (loss) carried forward14€-352k€2k▲
Provisions and deferred taxes16€206k€57k▼
Deferred taxes168€206k€57k▼
Amounts payable17/49€267k€313k▲
Amounts payable after more than one year17€259k€185k▼
Financial debts170/4€255k€178k▼
Other amounts payable178/9€4k€7k▲
Amounts payable within one year42/48€8k€127k▲
Current portion of amounts payable after more than one year42-€22k
Trade debts44€3k€32k▲
Suppliers440/4€3k€32k▲
Taxes, remuneration and social security45-€73k
Taxes450/3-€73k
Other amounts payable47/48€5k-
Accrued charges and deferred income492/3€196€892▲
Income statement
Code20222025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€19k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€2k€-31k▼
Operating profit (loss)9901€-24k€-53k▼
Financial income75/76B€6-
Recurring financial income75€6-
Financial charges65/66B€5k€12k▲
Recurring financial charges65€5k€12k▲
Profit (loss) for the period before taxes9903€-29k€-65k▼
Transfer from deferred taxes780€6k€138k▲
Income taxes67/77-€73k
Profit (loss) for the period9904€-22k€71▲
Transfer from tax-exempt reserves789€15k€411k▲
Profit (loss) for the period to be appropriated9905€-7k€411k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-352k€2k▲
Profit (loss) brought forward from the previous period14P€-345k€-410k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
01-11
Financial
Back to profitnet €71
Net result €71 after 2 loss-making years.
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 3.88
Current ratio from 1.16 to 3.88; short-term debt falls from €170k to €8k.
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 58 days late
2021
31-12
Financial
Weakest financial yearnet €-58k ▼119%
Net result drops to €-58k, the lowest in the series; recovery starts the following year.
25-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 117 days late
2020
31-12
Financial
Back to profitnet €313k
Net result €313k after 2 loss-making years.
31-12
Financial
Liquidity times 6current ratio 12.29
Current ratio from 1.99 to 12.29; short-term debt falls from €200k to €29k.
20-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 112 days late
2019
04-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 35 days late
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
22-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 53 days late
2016
12-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 12 days late
2015
09-12
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 131 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2020
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-01-2020
Imvil: Resigned as Director
10-11-2016
Alain Demesse: Resigned as Director
06-10-2016
Anna Principato: Resigned as Managing director
06-10-2016
Anna Principato: Resigned as Director
Location & real-estate footprint
Registered office, Elsene · 2 establishment units since 1986
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Waaglaan 561050 ElseneGround area
542 m²
Building footprint
340 m²
Volume, LiDAR
4,109 m³
Parcel 21446D0181/00X009, Brussels · tallest building 18.1 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
S.I.W. SOCIETE ANONYME
since 19862.035.688.916
S.I.W. SA
since 20102.185.106.330
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21446D0181/00X009 | Brussels | 542 m² | 1 · 340 m² | 18.1 m · 5 fl. |
Linked by address, not proof of ownership
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.
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded31-10-1985
Fiscal year end01-11
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.