S MANAGEMENT
ActiveSummary
S MANAGEMENT has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.13M and a net result of €11k. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 48% of 31694 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
73
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability54▼-16
Solvency78▲+4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity ample (current ratio 2.85 against 2.62 in 2024; short-term debt: 6% and cash: 1.3% of total assets), and 46.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← 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
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
53.1%
Return on assets
0.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
8 d late
2023
30 d late
2022
31 d late
2021
29 d late
2020
60 d late
2019
122 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€11k▼ 27.7%
2024 · €15k
2018: €606
2019: €82k
2020: €-4k
2021: €5k
2022: €11k
2023: €10k
2024: €15k
2018 → 2025
Working capital
€239k▼ 5.9%
2024 · €253k
2018: €958k
2019: €789k
2020: €677k
2021: €511k
2022: €333k
2023: €306k
2024: €253k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.13M-€1.10M▼ 3.0%€1.11M▲ 0.9%€1.12M▲ 1.3%€1.13M▲ 0.9%
Operating result€42k-€69k▲ 62.6%€47k▼ 31.5%€59k▲ 25.2%€83k▲ 41.3%
Net result€5k-€11k▲ 121%€10k▼ 9.4%€15k▲ 41.5%€11k▼ 27.7%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 41% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.14M
Fixed assets
€1.77M ▼ 5.5%
Current assets
€368k ▼ 10.3%
Equity and liabilities €2.14M
Equity
€1.13M ▲ 0.9%
Provisions
€30k ▼ 10.6%
Debt
€972k ▼ 13.6%
Debt's share of the balance-sheet total falls from 49.3% to 45.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€201k▲
2024 · €176k
Cash flow
€128k▼
2024 · €132k
Current ratio
2.85▲
2024 · 2.62
Debt to equity
0.86▼
2024 · 1.00
ROE
0.9%▼
2024 · 1.3%
ROA
0.5%▼
2024 · 0.6%
Interest coverage
4.13▼
2024 · 13.43
Debt ≤ 1 year
€129k▼
2024 · €157k
Debt > 1 year
€842k▼
2024 · €968k
Income taxes
€28k▼
2024 · €36k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.28M€2.14M▼
Fixed assets21/28€1.87M€1.77M▼
Tangible fixed assets22/27€1.87M€1.77M▼
Land and buildings22€1.79M€1.70M▼
Plant, machinery and equipment23€6k€8k▲
Furniture and vehicles24€75k€61k▼
Current assets29/58€410k€368k▼
Amounts receivable within one year40/41€11k€32k▲
Trade receivables40€5k€20k▲
Other amounts receivable41€6k€12k▲
Current investments50/53€306k€306k▼
Cash at bank and in hand54/58€90k€27k▼
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€2.28M€2.14M▼
Equity10/15€1.12M€1.13M▲
Contributions10/11€596k€596k=
Reserves13€123k€133k▲
Non-distributable reserves130/1€60k€60k=
Reserves not available under the articles1311€60k€60k=
Tax-exempt reserves132€36k€31k▼
Distributable reserves133€28k€42k▲
Profit (loss) carried forward14€404k€405k▲
Provisions and deferred taxes16€33k€30k▼
Provisions for liabilities and charges160/5-€472
Other liabilities and charges164/5-€472
Deferred taxes168€33k€29k▼
Amounts payable17/49€1.13M€972k▼
Amounts payable after more than one year17€968k€842k▼
Financial debts170/4€448k€375k▼
Other amounts payable178/9€520k€467k▼
Amounts payable within one year42/48€157k€129k▼
Current portion of amounts payable after more than one year42€113k€73k▼
Trade debts44€4k€3k▼
Suppliers440/4€4k€3k▼
Taxes, remuneration and social security45€39k€16k▼
Taxes450/3€39k€16k▼
Other amounts payable47/48-€37k
Accrued charges and deferred income492/3€537€537=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€117k€117k▲
Other operating charges640/8€12k€19k▲
Gross operating margin9900€188k€220k▲
Operating profit (loss)9901€59k€83k▲
Financial income75/76B€3k€10▼
Recurring financial income75€3k€10▼
Financial charges65/66B€13k€49k▲
Recurring financial charges65€13k€49k▲
Profit (loss) for the period before taxes9903€48k€35k▼
Transfer from deferred taxes780€2k€4k▲
Income taxes67/77€36k€28k▼
Profit (loss) for the period9904€15k€11k▼
Transfer from tax-exempt reserves789€2k€4k▲
Profit (loss) for the period to be appropriated9905€17k€15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€420k€419k▼
Profit (loss) brought forward from the previous period14P€403k€404k▲
Transfer to equity691/2€16k€14k▼
To other reserves6921€16k€14k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 60 days late
2020
31-12
Financial
Weakest financial yearnet €-4k ▼105%
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 122 days late
2019
31-12
Financial
Highest result since 2018net €82k ▲13351%
Operating result €94k, net result €82k, both a record.
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 92 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 61 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Waterloo · 1 establishment unit since 1997
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.
Avenue des Lilas 751410 WaterlooGround area
4,452 m²
Building footprint
216 m²
Volume, LiDAR
1,745 m³
Parcel 25762G0236/00A000, Wallonia · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Avenue des Lilas 75, 1410 Waterloo
since 19972.070.632.373
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25762G0236/00A000 | Wallonia | 4,452 m² | 1 · 216 m² | 10.0 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500CGTTZ5W0F7UA74
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 26,435 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68310Real estate agency activities
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.