S4D
ActiveSummary
S4D has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €32,627 and a net result of €4,552. Equity is growing by ~15% per year across the filed fiscal years. Its solvency ranks better than 45% of 15872 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability54▲+50
Solvency58▲+1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.51 against 1.92 in 2023; short-term debt: 63.7% and cash: 1.7% of total assets), but 67% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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 · 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
33%
Return on assets
4.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
7 d early
2023
358 d late
2022
198 d late
2021
31 d late
2020
31 d late
2019
94 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 118 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€32,627▲ 16.2%
2023 · €28,075
Total assets
€98,863▲ 12.3%
2023 · €88,024
Net result
€4,552
2023 · -€10,603
Working capital
€32,346▼ 19.9%
2023 · €40,395
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Line20202021202220232024
Operating result€9,934▼ 24.2%€36,873▲ 271%€2,325▼ 93.7%-€5,858€16,586
Net result€9,520within the sector's middle half▼ 14.2%€36,873above the sector's middle half▲ 287%-€2,487within the sector's middle half-€10,603below the sector's middle half▼ 326%€4,552within the sector's middle half
Equity€28,006within the sector's middle half▲ 51.5%€64,879within the sector's middle half▲ 132%€38,678within the sector's middle half▼ 40.4%€28,075within the sector's middle half▼ 27.4%€32,627within the sector's middle half▲ 16.2%
Total assets€45,816below the sector's middle half▼ 37.9%€91,172within the sector's middle half▲ 99.0%€107,272within the sector's middle half▲ 17.7%€88,024within the sector's middle half▼ 17.9%€98,863within the sector's middle half▲ 12.3%
Debt€17,810▼ 67.8%€26,293▲ 47.6%€68,594▲ 161%€59,949▼ 12.6%€66,237▲ 10.5%
Working capital€23,770within the sector's middle half▲ 35.7%€61,295within the sector's middle half▲ 158%€63,262within the sector's middle half▲ 3.2%€40,395within the sector's middle half▼ 36.1%€32,346within the sector's middle half▼ 19.9%
Solvency61.1%within the sector's middle half▲ 36.1pp71.2%above the sector's middle half▲ 10.0pp36.1%within the sector's middle half▼ 35.1pp31.9%within the sector's middle half▼ 4.2pp33.0%within the sector's middle half▲ 1.1pp
Current ratio2.33within the sector's middle half▲ 1.023.33above the sector's middle half▲ 1.002.59within the sector's middle half▼ 0.741.92within the sector's middle half▼ 0.671.51within the sector's middle half▼ 0.41
Return on assets (ROA)20.8%above the sector's middle half▲ 5.8pp40.4%above the sector's middle half▲ 19.7pp-2.3%within the sector's middle half▼ 42.8pp-12.0%below the sector's middle half▼ 9.7pp4.6%within the sector's middle half▲ 16.6pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €16,586 after a loss of €5,858 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €98,863
Fixed assets
€3,562 ▼ 8.1%
Current assets
€95,301 ▲ 13.3%
Equity and liabilities €98,863
Equity
€32,627 ▲ 16.2%
Debt
€66,237 ▲ 10.5%
Debt's share of the balance-sheet total falls from 68.1% to 67.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€16,899▲
2023 · -€5,545
Cash flow
€4,864▲
2023 · -€10,290
Quick ratio
0.72▼
2023 · 0.78
Debt to equity
2.03▼
2023 · 2.14
ROE
14.0%▲
2023 · -37.8%
Interest coverage
3.59▲
2023 · -15.78
Debt ≤ 1 year
€62,955▲
2023 · €43,755
Debt > 1 year
€3,282▼
2023 · €16,194
Income taxes
€7,334▲
2023 · €4,393
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €808 | €652 | €335 | €313 | €312 | = |
| Other operating charges640/8 | - | €2,171 | €3,270 | €1,774 | €1,155 | ▼ 34.9% |
| Gross operating margin9900 | €12,679 | €39,696 | €5,930 | -€3,771 | €18,054 | ▲ 579% |
| Operating profit (loss)9901 | €9,934 | €36,873 | €2,325 | -€5,858 | €16,586 | ▲ 383% |
| Financial income75/76B | - | €231 | €2 | - | - | - |
| Recurring financial income75 | €415 | €231 | €2 | - | - | - |
| Financial charges65/66B | - | €232 | €1,665 | €352 | €4,701 | ▲ 1,237% |
| Recurring financial charges65 | €631 | €232 | €1,665 | €352 | €4,701 | ▲ 1,237% |
| Profit (loss) for the period before taxes9903 | €9,718 | €36,873 | €662 | -€6,209 | €11,885 | ▲ 291% |
| Income taxes67/77 | €198 | - | €3,150 | €4,393 | €7,334 | ▲ 66.9% |
| Profit (loss) for the period9904 | €9,520 | €36,873 | -€2,487 | -€10,603 | €4,552 | ▲ 143% |
| Profit (loss) for the period to be appropriated9905 | €9,520 | €36,873 | -€2,487 | -€10,603 | €4,552 | ▲ 143% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,816 | €91,172 | €107,272 | €88,024 | €98,863 | ▲ 12.3% |
| Fixed assets21/28 | €4,236 | €3,584 | €4,187 | €3,874 | €3,562 | ▼ 8.1% |
| Tangible fixed assets22/27 | €899 | €247 | €850 | €537 | €225 | ▼ 58.2% |
| Furniture and vehicles24 | - | €247 | €850 | €537 | €225 | ▼ 58.2% |
| Financial fixed assets28 | €3,337 | €3,337 | €3,337 | €3,337 | €3,337 | = |
| Current assets29/58 | €41,580 | €87,588 | €103,085 | €84,149 | €95,301 | ▲ 13.3% |
| Stocks and contracts in progress3 | €2,572 | €2,150 | €50,000 | €50,000 | €50,000 | = |
| Stocks30/36 | - | €2,150 | €50,000 | €50,000 | €50,000 | = |
| Amounts receivable within one year40/41 | €30,799 | €55,256 | €46,603 | €22,987 | €43,583 | ▲ 89.6% |
| Trade receivables40 | - | €55,256 | €46,603 | €22,742 | €43,583 | ▲ 91.6% |
| Other amounts receivable41 | - | - | - | €245 | - | - |
| Cash at bank and in hand54/58 | €6,716 | €29,320 | €923 | €10,563 | €1,719 | ▼ 83.7% |
| Deferred charges and accrued income490/1 | - | €862 | €5,560 | €600 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,816 | €91,172 | €107,272 | €88,024 | €98,863 | ▲ 12.3% |
| Equity10/15 | €28,006 | €64,879 | €38,678 | €28,075 | €32,627 | ▲ 16.2% |
| Contributions10/11 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Outside capital11 | - | €30,000 | €30,000 | - | - | - |
| Other1109/19 | - | €30,000 | €30,000 | - | - | - |
| Reserves13 | - | - | - | - | €2,627 | - |
| Distributable reserves133 | - | - | - | - | €2,627 | - |
| Profit (loss) carried forward14 | -€1,994 | €34,879 | €8,678 | -€1,925 | - | - |
| Amounts payable17/49 | €17,810 | €26,293 | €68,594 | €59,949 | €66,237 | ▲ 10.5% |
| Amounts payable after more than one year17 | - | - | €28,771 | €16,194 | €3,282 | ▼ 79.7% |
| Financial debts170/4 | - | - | €28,771 | €16,194 | €3,282 | ▼ 79.7% |
| Amounts payable within one year42/48 | €17,810 | €26,293 | €39,823 | €43,755 | €62,955 | ▲ 43.9% |
| Current portion of amounts payable after more than one year42 | - | - | €13,257 | €12,577 | €12,913 | ▲ 2.7% |
| Financial debts43 | - | - | €2,642 | - | - | - |
| Credit institutions430/8 | - | - | €2,642 | - | - | - |
| Trade debts44 | €11,221 | €11,511 | €12,722 | €10,128 | €26,847 | ▲ 165% |
| Suppliers440/4 | - | €11,511 | €12,722 | €10,128 | €26,847 | ▲ 165% |
| Taxes, remuneration and social security45 | - | €14,782 | €3,153 | €21,049 | €22,695 | ▲ 7.8% |
| Taxes450/3 | - | €14,782 | €3,150 | €21,049 | €17,722 | ▼ 15.8% |
| Remuneration and social security454/9 | - | - | €3 | - | €4,973 | - |
| Other amounts payable47/48 | - | - | €8,050 | - | €501 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,520 | €36,873 | -€2,487 | -€10,603 | €4,552 | ▲ 143% |
| + Depreciation and write-downs630 | €808 | €652 | €335 | €313 | €312 | = |
| Operating cash flow (approximation) | €10,328 | €37,524 | -€2,152 | -€10,290 | €4,864 | ▲ 147% |
| Investment in fixed assets (approximation) | - | €0 | -€938 | €0 | €0 | - |
| Change in cash | - | €22,604 | -€28,397 | €9,640 | -€8,844 | ▼ 192% |
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
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 358 days late
2024
31-12
Financial
Back to profitnet €4,552
Net result €4,552 after 2 loss-making years.
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 198 days late
2023
31-12
Financial
Weakest financial yearnet -€10,603
Net result drops to -€10,603, the lowest in the series; recovery starts the following year.
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €36,873 ▲287%
Operating result €36,873, net result €36,873, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
02-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 94 days late
2019
31-12
Financial
Back to profitnet €11,089
Net result €11,089 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 25 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Elsene · 1 establishment unit since 2012
Ground area
266 m²
Building footprint
265 m²
Volume, LiDAR
3,746 m³
Parcel 21807G0211/00W012, Brussels · tallest building 34.0 m, ±5 floors. Linked by address, not a title deed.
493
companies at this address
See who is registered here
1 establishment unit
S4D
since 20122.205.962.914
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0211/00W012 | Brussels | 266 m² | 1 · 265 m² | 34.0 m · 5 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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Of 583 companies in sector 46496 we hold annual accounts for 384. 206 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded09-11-2011
Fiscal year end31-12
Activities, NACEBEL 2025
46496Wholesale trade
46497Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0840937045
Also
9925:BE0840937045
Registered
04-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.