SAFI
ActiveSummary
The computed 12-month bankruptcy probability of SAFI is 1.8% (moderate). The 2024 annual accounts show negative equity (€-37k) and a net result of €-27k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 9982 sector peers (fiscal year 2024). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-51
Solvency0▼-8
Growth32=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.47 against 0.77 in 2023; short-term debt: 191.5% and cash: 60.9% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-91.5%
Return on assets
-67%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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 · 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 €-37k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-09-2025, 55 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
not confirmed
2024
55 d late
2023
68 d late
2022
113 d late
2021
116 d late
2020
33 d early
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-37k▼ 273%
2023 · €-10k
2018: €8khighest in 7 years
2019: €-7k▼ -187% vs 2018
2020: €7k▲ +195% vs 2019
2021: €-3k▼ -147% vs 2020
2022: €-1k▲ +57.7% vs 2021
2023: €-10k▼ -613% vs 2022
2024: €-37k▼ -273% vs 2023lowest in 7 years
2018 → 2024
Total assets
€40k▼ 31.5%
2023 · €59k
2018: €98khighest in 7 years
2019: €92k▼ -6.0% vs 2018
2020: €93k▲ +0.5% vs 2019
2021: €58k▼ -37.6% vs 2020
2022: €43k▼ -25.6% vs 2021
2023: €59k▲ +36.0% vs 2022
2024: €40k▼ -31.5% vs 2023lowest in 7 years
2018 → 2024
Net result
€-27k▼ 218%
2023 · €-8k
2018: €12k
2019: €-16k▼ -227% vs 2018
2020: €14k▲ +191% vs 2019highest in 7 years
2021: €-10k▼ -172% vs 2020
2022: €2k▲ +118% vs 2021
2023: €-8k▼ -550% vs 2022
2024: €-27k▼ -218% vs 2023lowest in 7 years
2018 → 2024
Working capital
€-41k▼ 160%
2023 · €-16k
2018: €4khighest in 7 years
2019: €-15k▼ -497% vs 2018
2020: €-3k▲ +77.6% vs 2019
2021: €-11k▼ -217% vs 2020
2022: €-13k▼ -16.1% vs 2021
2023: €-16k▼ -23.4% vs 2022
2024: €-41k▼ -160% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€7k-€-3k€-1k▲ 57.7%€-10k▼ 613%€-37k▼ 273%
2020: €7khighest in 5 years
2021: €-3k▼ -147% vs 2020
2022: €-1k▲ +57.7% vs 2021
2023: €-10k▼ -613% vs 2022
2024: €-37k▼ -273% vs 2023lowest in 5 years
Operating result€20k-€-8k€4k€-7k€-26k▼ 253%
2020: €20khighest in 5 years
2021: €-8k▼ -140% vs 2020
2022: €4k▲ +152% vs 2021
2023: €-7k▼ -282% vs 2022
2024: €-26k▼ -253% vs 2023lowest in 5 years
Net result€14k-€-10k€2k€-8k€-27k▼ 218%
2020: €14khighest in 5 years
2021: €-10k▼ -172% vs 2020
2022: €2k▲ +118% vs 2021
2023: €-8k▼ -550% vs 2022
2024: €-27k▼ -218% vs 2023lowest in 5 years
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 €26k in 2024 against €7k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €40k
Fixed assets
€4k ▼ 30.2%
Current assets
€36k ▼ 31.6%
Key figures and ratios
EBITDA
€-22k▼
2023 · €6k
Cash flow
€-23k▼
2023 · €5k
Solvency
-91.5%▼
2023 · -16.8%
Current ratio
0.47▼
2023 · 0.77
Quick ratio
0.36▼
2023 · 0.68
Debt to equity
-2.09▲
2023 · -6.95
ROA
-67.0%▼
2023 · -14.4%
Interest coverage
-32.88▼
2023 · 6.58
Debt
€77k▲
2023 · €68k
Debt ≤ 1 year
€77k▲
2023 · €68k
Income taxes
€332▲
2023 · €320
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 · 47 lines
Balance sheet
Code20232024
Assets
Total assets20/58€59k€40k▼
Fixed assets21/28€6k€4k▼
Tangible fixed assets22/27€6k€4k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€3k€2k▼
Leasing and similar rights25€0-
Current assets29/58€53k€36k▼
Stocks and contracts in progress3€6k€8k▲
Stocks30/36€6k€8k▲
Amounts receivable within one year40/41€18k€103▼
Trade receivables40€18k€23▼
Other amounts receivable41€84€79▼
Cash at bank and in hand54/58€24k€24k▲
Deferred charges and accrued income490/1€5k€3k▼
Equity and liabilities
Total equity and liabilities10/49€59k€40k▼
Equity10/15€-10k€-37k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-18k€-45k▼
Amounts payable17/49€68k€77k▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€68k€77k▲
Current portion of amounts payable after more than one year42€4k€0▼
Trade debts44€2k€603▼
Suppliers440/4€2k€603▼
Advances received on contracts in progress46€11k€0▼
Taxes, remuneration and social security45€3k€3k▼
Taxes450/3€3k€3k▼
Other amounts payable47/48€49k€73k▲
Income statement
Code20232024
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€4k▼
Other operating charges640/8€2k€3k▲
Gross operating margin9900€7k€-20k▼
Operating profit (loss)9901€-7k€-26k▼
Financial income75/76B€47€6▼
Recurring financial income75€47€6▼
Financial charges65/66B€859€681▼
Recurring financial charges65€859€681▼
Profit (loss) for the period before taxes9903€-8k€-27k▼
Income taxes67/77€320€332▲
Profit (loss) for the period9904€-8k€-27k▼
Profit (loss) for the period to be appropriated9905€-8k€-27k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-18k€-45k▼
Profit (loss) brought forward from the previous period14P€-9k€-18k▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €113 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26k | €25k | €13k | €13k | €4k | ▼ 73.0% |
| Other operating charges640/8 | - | €3k | €3k | €2k | €3k | ▲ 60.6% |
| Gross operating margin9900 | €48k | €20k | €20k | €7k | €-20k | ▼ 366% |
| Operating profit (loss)9901 | €20k | €-8k | €4k | €-7k | €-26k | ▼ 253% |
| Financial income75/76B | - | €121 | €136 | €47 | €6 | ▼ 86.5% |
| Recurring financial income75 | €26 | €121 | €136 | €47 | €6 | ▼ 86.5% |
| Financial charges65/66B | - | €2k | €2k | €859 | €681 | ▼ 20.7% |
| Recurring financial charges65 | €3k | €2k | €2k | €859 | €681 | ▼ 20.7% |
| Profit (loss) for the period before taxes9903 | €16k | €-10k | €2k | €-8k | €-27k | ▼ 226% |
| Income taxes67/77 | €2k | €312 | €316 | €320 | €332 | ▲ 3.9% |
| Profit (loss) for the period9904 | €14k | €-10k | €2k | €-8k | €-27k | ▼ 218% |
| Profit (loss) for the period to be appropriated9905 | €14k | €-10k | €2k | €-8k | €-27k | ▼ 218% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €93k | €58k | €43k | €59k | €40k | ▼ 31.5% |
| Fixed assets21/28 | €46k | €24k | €16k | €6k | €4k | ▼ 30.2% |
| Tangible fixed assets22/27 | €46k | €24k | €16k | €6k | €4k | ▼ 30.2% |
| Land and buildings22 | - | €3k | €0 | - | - | - |
| Plant, machinery and equipment23 | - | €1k | €3k | €3k | €2k | ▼ 43.2% |
| Furniture and vehicles24 | - | €4k | €4k | €3k | €2k | ▼ 16.7% |
| Leasing and similar rights25 | - | €17k | €8k | €0 | - | - |
| Current assets29/58 | €47k | €34k | €27k | €53k | €36k | ▼ 31.6% |
| Stocks and contracts in progress3 | €2k | €6k | €3k | €6k | €8k | ▲ 27.7% |
| Stocks30/36 | - | €6k | €3k | €6k | €8k | ▲ 27.7% |
| Amounts receivable within one year40/41 | €13k | €7k | €9k | €18k | €103 | ▼ 99.4% |
| Trade receivables40 | - | €6k | €9k | €18k | €23 | ▼ 99.9% |
| Other amounts receivable41 | - | €305 | €0 | €84 | €79 | ▼ 4.8% |
| Cash at bank and in hand54/58 | €27k | €15k | €12k | €24k | €24k | ▲ 3.5% |
| Deferred charges and accrued income490/1 | - | €6k | €3k | €5k | €3k | ▼ 34.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €93k | €58k | €43k | €59k | €40k | ▼ 31.5% |
| Equity10/15 | €7k | €-3k | €-1k | €-10k | €-37k | ▼ 273% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €-1k | €-11k | €-9k | €-18k | €-45k | ▼ 150% |
| Amounts payable17/49 | €86k | €61k | €44k | €68k | €77k | ▲ 12.3% |
| Amounts payable after more than one year17 | €35k | €17k | €4k | €0 | - | - |
| Financial debts170/4 | - | €17k | €4k | €0 | - | - |
| Amounts payable within one year42/48 | €51k | €45k | €40k | €68k | €77k | ▲ 12.3% |
| Current portion of amounts payable after more than one year42 | - | €28k | €12k | €4k | €0 | ▼ 100% |
| Trade debts44 | €1k | €10k | €1k | €2k | €603 | ▼ 65.7% |
| Suppliers440/4 | - | €10k | €1k | €2k | €603 | ▼ 65.7% |
| Advances received on contracts in progress46 | - | - | - | €11k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €4k | €2k | €3k | €3k | ▼ 2.3% |
| Taxes450/3 | - | €4k | €2k | €3k | €3k | ▼ 2.3% |
| Other amounts payable47/48 | - | €3k | €25k | €49k | €73k | ▲ 48.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14k | €-10k | €2k | €-8k | €-27k | ▼ 218% |
| + Depreciation and write-downs630 | €26k | €25k | €13k | €13k | €4k | ▼ 73.0% |
| Operating cash flow (approximation) | €40k | €15k | €15k | €5k | €-23k | ▼ 617% |
| Investment in fixed assets (approximation) | - | €-4k | €-5k | €-3k | €-2k | ▲ 43.6% |
| Change in cash | - | €-12k | €-3k | €12k | €828 | ▼ 92.9% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 55 days late
2024
31-12
Financial
Weakest financial yearnet €-27k
Net result drops to €-27k, the lowest in the series.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
21-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 113 days late
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
24-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 116 days late
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Zottegem · 1 establishment unit since 2007
Ground area
2,951 m²
Building footprint
379 m²
Volume, LiDAR
1,854 m³
Parcel 41023A0537/00K000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SAFI bvba
since 20072.164.333.977
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41023A0537/00K000 | Flanders | 2,951 m² | 1 · 379 m² | 10.3 m · 2 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 2,451 companies in sector 41003 we hold annual accounts for 1,055. 410 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)
Founded09-05-2007
Fiscal year end31-12
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
43320Joinery installation
Contact
Phone
054/58.98.76Zottegem
Scores and ratios are computed by Checked and are not a credit decision.