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S.I.W.

Active
Public limited companyfounded 1985active for 41 yearsWaaglaan 56, 1050 Elsene, BelgiumKBO/BCE: BE 0428.026.554
Summary

S.I.W. has been active since 1985 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €979,930 and a net result of €71. Equity has been shrinking by about 3.6% per year since 2018. The computed 12-month bankruptcy probability is 0.2% (very low).

Overview

Official details

Source: KBO
Status
Active since 31-10-1985 Normal situation
Activity
No activity registered in the KBO
Establishment units
2.035.688.916 1050 Elsene, since 30-09-1986
2.185.106.330 1050 Elsene, since 25-01-2010
Financial year end
1 November
Peppol
Reachable since 03-02-2026

Board and ownership

Board

Financial position

87 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Annual accounts to 01-11-2025
Gross margin
-€31,485
Profit
€71
Equity
€979,930
Total assets
€1.3m
  • 2025 accounts filed 29 days after the deadline
Turnover not published (micro format)
Score breakdownraises riskLast filed accounts filed 29 days late; 2 of the last 3 accounts lateLiquidity: current ratio 0.10, cash €8,904lowers riskSize: total assets €1.3mEquity €979,930 (72.6% of total assets)Show the evidence

Checked score

Score 2025
87 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 40% of micro companies without a NACE code
Financial strength · tick: 2022
Average
Solvency 98+4
equity 72.6% of total assets
Liquidity 51+1
short-term debt 9.4% · cash 0.7%
Profitability 19+2
return on assets 0.0%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 2.8% 01-2025: 5.3%▲ +2.5 percentage points vs 12-2024 02-2025: 5.3%● unchanged vs 01-2025 03-2025: 5.4%▲ +0.1 percentage points vs 02-2025 04-2025: 5.1%▼ -0.3 percentage points vs 03-2025 05-2025: 5.1%● unchanged vs 04-2025 06-2025: 5.1%● unchanged vs 05-2025 07-2025: 5.1%● unchanged vs 06-2025 08-2025: 5.7%▲ +0.6 percentage points vs 07-2025 09-2025: 5.7%● unchanged vs 08-2025 10-2025: 5.7%● unchanged vs 09-2025 11-2025: 6.1%▲ +0.4 percentage points vs 10-2025highest value 12-2025: 6.1%● unchanged vs 11-2025highest value 01-2026: 6.1%● unchanged vs 12-2025highest value 02-2026: 6.1%● unchanged vs 01-2026highest value 03-2026: 6.1%● unchanged vs 02-2026highest value 04-2026: 6.1%● unchanged vs 03-2026highest value 05-2026: 6.1%● unchanged vs 04-2026highest value 06-2026: 6.1%● unchanged vs 05-2026highest value 07-2026: 6.1%● unchanged vs 06-2026highest value 08-2026: 0.2%▼ -5.9 percentage points vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026 11-2026: 0.2%● unchanged vs 10-2026lowest value
Credit of up to €85,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.1 (3.88 in 2022), below 1. Short-term debt is 9.4% and cash 0.7% of total assets. 27.4% of the assets are financed with debt and provisions.
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 61% of them on solvency, 42% on liquidity and 16% on profitability.

The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises risk
lowers risk · Size: total assets €1.3m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Last filed accounts filed 29 days late; 2 of the last 3 accounts late
NBB · filings
lowers risk · Equity €979,930 (72.6% of total assets)
NBB · annual accounts
raises risk · Liquidity: current ratio 0.10, cash €8,904
NBB · annual accounts
raises risk · 2025 accounts filed 29 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
29 days late
2022
58 days late
2021
58 days late
2020
117 days late
2019
112 days late
2018
35 days late
2017
8 days late
← before the deadline after the deadline →
tick = median of all Belgian filings

The company filed its last 7 accounts on average 60 days after the deadline. The Belgian median for financial year 2022 was 3 days before the deadline, and 42% of all filings were late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • New directorlatest change 05-12-2025 · 1 in office 1 joined View

Recent changes

  1. · Gazette deed Reappointment: Julien Demesse (director)Permanent representative: Julien Demesse
  2. · Gazette deed IncorporationGeneral meeting of 03-03-2023
  3. · Gazette deed Incorporation
All 18 events

Key facts about S.I.W.

What is the company number of S.I.W.?
The company number of S.I.W. is 0428.026.554. The VAT number is the same number with BE in front: BE 0428.026.554.
Where is S.I.W. based?
The registered office is at Waaglaan 56, 1050 Elsene.Company details
What is the legal form of S.I.W.?
The legal form of S.I.W. is Public limited company (NV).
When was S.I.W. founded?
S.I.W. was founded on 31-10-1985.
Is S.I.W. still active?
Yes, S.I.W. is an active enterprise in the KBO register.
What is the turnover of S.I.W.?
The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
Is S.I.W. profitable?
In financial year 2025, S.I.W. made a profit of €71.
Where can I find the annual accounts of S.I.W.?
S.I.W. filed 38 annual accounts with the National Bank of Belgium, the latest for financial year 2025.

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