S2M
ActiveSummary
The computed 12-month bankruptcy probability of S2M is 2.0% (moderate). The 2024 annual accounts show negative equity (€-51k) and a net result of €-11k. Equity is shrinking by ~55.9% per year across the filed fiscal years. The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
33
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability36▼-48
Solvency1▼-2
Growth50▲+18
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.51 against 0.73 in 2023; short-term debt: 124% and cash: 19% of total assets), and equity is negative.
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
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 2024Solvency, return and age of the figures
Solvency
-24%
Return on assets
-5%
Age of the figures
21 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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-51k
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-02-2026, 208 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
208 d late
2023
573 d late
2022
113 d late
2021
11 d early
2020
26 d late
2019
35 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€60k▲ 15.3%
2023 · €52k
2023: €52k
2023 → 2024
EBIT margin
-16.7%▼ 35.2pp
2023 · 18.5%
2023: 18.5%
2023 → 2024
Net result
€-11k
2023 · €10k
2018: €82k
2019: €34
2020: €16k
2021: €-38k
2022: €-32k
2023: €10k
2018 → 2024
Working capital
€-129k▼ 117%
2023 · €-60k
2018: €-962
2019: €-559
2020: €6k
2021: €-66k
2022: €-85k
2023: €-60k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€52k€60k▲ 15.3%
Equity€19k-€-19k€-51k▼ 171%€-40k▲ 20.3%€-51k▼ 26.4%
Operating result€21k-€-38k€-32k▲ 16.5%€10k€-10k
Net result€16k-€-38k€-32k▲ 16.1%€10k€-11k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €10k after €10k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €212k
Fixed assets
€78k ▲ 306%
Current assets
€134k ▼ 17.2%
Key figures and ratios
EBITDA
€2k▼
2023 · €16k
Cash flow
€1k▼
2023 · €16k
Solvency
-24.0%▼
2023 · -22.3%
Current ratio
0.51▼
2023 · 0.73
Debt to equity
-5.16▲
2023 · -5.49
ROA
-5.0%▼
2023 · 5.7%
Interest coverage
3.04▼
2023 · 26.30
Debt
€263k▲
2023 · €222k
Debt ≤ 1 year
€263k▲
2023 · €222k
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 · 2024 against 2023 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€181k€212k▲
Fixed assets21/28€19k€78k▲
Tangible fixed assets22/27€17k€76k▲
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€15k€74k▲
Financial fixed assets28€3k€3k=
Current assets29/58€162k€134k▼
Amounts receivable within one year40/41€144k€93k▼
Trade receivables40€54k€42k▼
Other amounts receivable41€90k€51k▼
Cash at bank and in hand54/58€17k€40k▲
Deferred charges and accrued income490/1€1k€1k=
Equity and liabilities
Total equity and liabilities10/49€181k€212k▲
Equity10/15€-40k€-51k▼
Contributions10/11€12k€12k=
Reserves13€7k€7k=
Distributable reserves133€7k€7k=
Profit (loss) carried forward14€-60k€-70k▼
Amounts payable17/49€222k€263k▲
Amounts payable within one year42/48€222k€263k▲
Trade debts44€205k€241k▲
Suppliers440/4€205k€241k▲
Taxes, remuneration and social security45-€5k
Taxes450/3-€5k
Other amounts payable47/48€17k€17k▲
Income statement
Code20232024
Turnover70€52k€60k▲
Goods, raw materials, services and sundry goods60/61€29k€57k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€12k▲
Other operating charges640/8€8k€1k▼
Gross operating margin9900€23k€3k▼
Operating profit (loss)9901€10k€-10k▼
Financial income75/76B€1k-
Recurring financial income75€1k-
Financial charges65/66B€597€673▲
Recurring financial charges65€597€673▲
Profit (loss) for the period before taxes9903€10k€-11k▼
Profit (loss) for the period9904€10k€-11k▼
Profit (loss) for the period to be appropriated9905€10k€-11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-60k€-70k▼
Profit (loss) brought forward from the previous period14P€-70k€-60k▲
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
24-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 208 days late
24-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 573 days late
2023
31-12
Financial
Back to profitnet €10k
Net result €10k after 2 loss-making years.
21-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 113 days late
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-38k ▼335%
Net result drops to €-38k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
23-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 236 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Herentals · 1 establishment unit since 2015
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.
Atealaan(HRT) 242200 HerentalsGround area
1.9 ha
Building footprint
1.2 ha
Volume, LiDAR
70,696 m³
2 parcels, Flanders · tallest building 12.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Sales2Max
since 20152.240.060.194
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13012A0398/00K000 | Flanders | 1.3 ha | 1 · 1.2 ha | 12.4 m · 2 fl. |
| 71323C0155/00H002 | Flanders | 6,122 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 formPrivate limited company
Founded22-01-2015
Fiscal year end31-12
Legal name NL
Setareh Realty
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.