Equity
-€36,760
Debts exceed assets in financial year 2024.
SAFI
Lifetime
18 annual accounts with figures on one time axispeak €52,739 (2007)
-€19,624▼ €27,005
lowest -€26,908 (2024)
-€26,908▼ €18,437
peak €22,488 (2009)
-€36,760▼ €26,908
€76,928▲ 12.3%
peak 1 FTE (2013)
-not published
Board1 name since 2020
1 directorDe Raedt Filip
Documentsfilings and deeds
24-09-202555 days late
2024micro format
Gross margin from €7,381 to -€19,624Loss of €26,908Equity from -€9,852 to -€36,760
Key points
from the 2024 annual accountsDebts
€76,928 192% of the balance sheet
Suppliers 1%Taxes and wages 4%Other 95%
Filings
18 annual accounts 102 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
Turnover not published (micro format)
Checked score
50
Fair
Financially stronger than 15% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.5% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.9%
01-2025: 2.8%▼ -0.1 percentage points vs 12-2024
02-2025: 2.8%● unchanged vs 01-2025
03-2025: 2.8%● unchanged vs 02-2025
04-2025: 2.8%● unchanged vs 03-2025
05-2025: 2.7%▼ -0.1 percentage points vs 04-2025
06-2025: 2.7%● unchanged vs 05-2025
07-2025: 2.6%▼ -0.1 percentage points vs 06-2025
08-2025: 3.0%▲ +0.4 percentage points vs 07-2025
09-2025: 3.0%● unchanged vs 08-2025highest value
10-2025: 2.4%▼ -0.6 percentage points vs 09-2025
11-2025: 2.4%● unchanged vs 10-2025
12-2025: 2.4%● unchanged vs 11-2025
01-2026: 2.4%● unchanged vs 12-2025
02-2026: 2.4%● unchanged vs 01-2026
03-2026: 2.4%● unchanged vs 02-2026
04-2026: 2.4%● unchanged vs 03-2026
05-2026: 2.3%▼ -0.1 percentage points vs 04-2026
06-2026: 2.3%● unchanged vs 05-2026lowest value
07-2026: 2.4%▲ +0.1 percentage points vs 06-2026
08-2026: 2.6%▲ +0.2 percentage points vs 07-2026
09-2026: 2.6%● unchanged vs 08-2026
10-2026: 2.5%▼ -0.1 percentage points vs 09-2026
11-2026: 2.5%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €26,908, the second in a row (financial year 2024)
1 financial year not filed after the legal deadline; last filed accounts filed 55 days late; 3 of the last 3 accounts late
lowers risk
Founded in 2007
Size: total assets €40,168
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 (NACE 41, micro). It does better than 3% of them on solvency, 51% on liquidity, 5% on profitability and 2% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as SAFI has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SAFI itself: 2.5% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,907 companies, not a prediction for SAFI. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.47 (0.77 in 2023), below 1. Short-term debt is 191.5% and cash 60.9% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
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 -€36,760
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 102 days later.
NBB · 10 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline10-11-2026 today
raises risk · 2024 accounts filed 55 days late
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. 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 filingsDeviation from the deadline
2025
not filed
2024
55 days late
2023
68 days late
2022
113 days late
2021
116 days late
2020
33 days early
2019
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 58 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0889305106
Change of role: De Raedt Filip, from manager to director
Director discharge: De Raedt Filip · General meeting of 06-02-2020 · Gazette deed
Incorporation
published on 18-05-2007 · Gazette deed
First establishment
SAFI bvba, Leenstraat 49, Zottegem
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SAFI Zottegem | €40,168 | -€19,624 | -91.5% | - |
| BILICI BOUWONDERNEMING Beveren-Kruibeke-Zwijndrecht | €48,535 | -€398 | 85.3% | - |
| T & R SOLUTIONS Evergem | €42,082 | -€1,081 | -26.4% | - |
| DENYS L&L Charleroi | €35,791 | -€2,515 | 47.9% | - |
| OLIVIA Waasmunster | €83,707 | -€49,221 | -1313.0% | - |
| GOBATI Uccle | €29,489 | -€459 | 32.4% | - |
| MD-Technics Bierbeek | €29,492 | €746 | 72.6% | - |
These companies have the same main activity as SAFI: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €29,500 and €83,700, founded between 2005 and 2010.
Official details
Source: KBO- Status
- Active since 09-05-2007Normal situation
- Activity
- General construction of other non-residential buildingsNACE 41003and 1 other
- Establishment unit
- 2.164.333.9779620 Zottegem, since 01-05-2007
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Insights on SAFI
SAFI files the micro format. That format states no turnover. The gross margin fell from €52,739 in 2007 to -€19,624 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SAFI
- What is the company number of SAFI?
- The company number of SAFI is 0889.305.106. The VAT number is the same number with BE in front: BE 0889.305.106.
- Where is SAFI based?
- The registered office is at Leenstraat 49, 9620 Zottegem.Company details
- What does SAFI do?
- According to the KBO register, the main activity is general construction of other non-residential buildings (NACE 41003).
- What is the legal form of SAFI?
- SAFI is a private limited company (pre-2019) (BVBA).
- When was SAFI founded?
- SAFI was founded on 09-05-2007.
- Is SAFI still active?
- Yes, SAFI is an active enterprise in the KBO register.
- How many employees does SAFI have?
- SAFI had an average of 1 full-time equivalents in financial year 2018, according to the filed annual accounts.Financials
- What is the turnover of SAFI?
- The annual accounts for financial year 2024 state no turnover. The micro format does not require it.
- Is SAFI profitable?
- In financial year 2024, SAFI made a loss of €26,908.
- Where can I find the annual accounts of SAFI?
- SAFI filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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