SALT
ActiveSummary
SALT has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.0m and a net result of €878,533. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 66% of 4565 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▲+46
Solvency83▲+17
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €380,000 at 30 days acceptable
Liquidity ample (current ratio 17.89 against 3.31 in 2024; short-term debt: 4.3% and cash: 3.3% of total assets), and 41.8% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
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
58.2%
Return on assets
10.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
31 d late
2023
23 d late
2022
31 d late
2021
81 d late
2020
1 d early
2019
26 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 25 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€878,533
2024 · -€372,736
Working capital
€6.3m▲ 12.8%
2024 · €5.6m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€2.5m▲ 395%€408,869▼ 83.9%-€407,926-€278,250▲ 31.8%€507,963
Net result€1.8m▲ 477%€343,538▼ 81.4%-€435,957-€372,736▲ 14.5%€878,533
Equity€4.6m▲ 67.1%€4.9m▲ 7.5%€4.5m▼ 8.8%€4.1m▼ 8.3%€5.0m▲ 21.3%
Total assets€7.4m▲ 7.2%€7.5m▲ 2.5%€8.6m▲ 13.8%€10.1m▲ 17.2%€8.6m▼ 14.6%
Debt€2.8m▼ 32.7%€2.6m▼ 5.7%€4.1m▲ 56.6%€5.9m▲ 45.2%€3.6m▼ 39.5%
Working capital€5.8m▲ 31.7%€5.7m▼ 1.4%€5.8m▲ 1.4%€5.6m▼ 2.7%€6.3m▲ 12.8%
Staff (FTE)1.1▲ 10.0%0.1▼ 90.9%0▼ 100%0.61.9▲ 217%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €507,963 after a loss of €278,250 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.6m
Fixed assets
€1.9m ▼ 6.4%
Current assets
€6.7m ▼ 16.6%
Equity and liabilities €8.6m
Equity
€5.0m ▲ 21.3%
Debt
€3.6m ▼ 39.5%
Debt's share of the balance-sheet total falls from 59.0% to 41.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€673,531▲
2024 · -€118,973
Cash flow
€1.0m▲
2024 · -€213,459
Current ratio
17.89▲
2024 · 3.31
Quick ratio
9.73▲
2024 · 1.55
Debt to equity
0.72▼
2024 · 1.44
ROE
17.6%▲
2024 · -9.0%
ROA
10.2%▲
2024 · -3.7%
Interest coverage
3.37▲
2024 · -0.58
Debt ≤ 1 year
€374,048▼
2024 · €2.4m
Debt > 1 year
€3.1m▼
2024 · €3.4m
Income taxes
€1,071▲
2024 · €894
Staff costs
€87,408▲
2024 · €19,691
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €55,653 | €108,526 | €0 | - | - |
| Remuneration, social security and pensions62 | €64,879 | €8,880 | €0 | €19,691 | €87,408 | ▲ 344% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €77,373 | €77,872 | €91,331 | €159,277 | €165,568 | ▲ 3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €165,000 | -€165,000 | €0 | ▲ 100% |
| Other operating charges640/8 | €66,270 | €14,855 | €15,930 | €195,589 | €13,666 | ▼ 93.0% |
| Gross operating margin9900 | €2.7m | €510,475 | -€135,665 | -€68,693 | €774,605 | ▲ 1,228% |
| Operating profit (loss)9901 | €2.5m | €408,869 | -€407,926 | -€278,250 | €507,963 | ▲ 283% |
| Financial income75/76B | €60,807 | €116,976 | €101,317 | €113,010 | €587,263 | ▲ 420% |
| Recurring financial income75 | €60,807 | €116,976 | €101,317 | €113,010 | €587,263 | ▲ 420% |
| Financial charges65/66B | €116,814 | €80,291 | €128,490 | €206,602 | €215,622 | ▲ 4.4% |
| Recurring financial charges65 | €108,003 | €80,291 | €128,490 | €206,602 | €199,622 | ▼ 3.4% |
| Non-recurring financial charges66B | €8,811 | €0 | - | - | €16,000 | - |
| Profit (loss) for the period before taxes9903 | €2.5m | €445,554 | -€435,099 | -€371,842 | €879,604 | ▲ 337% |
| Income taxes67/77 | €633,956 | €102,016 | €858 | €894 | €1,071 | ▲ 19.8% |
| Profit (loss) for the period9904 | €1.8m | €343,538 | -€435,957 | -€372,736 | €878,533 | ▲ 336% |
| Profit (loss) for the period to be appropriated9905 | €1.8m | €343,538 | -€435,957 | -€372,736 | €878,533 | ▲ 336% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.4m | €7.5m | €8.6m | €10.1m | €8.6m | ▼ 14.6% |
| Fixed assets21/28 | €1.2m | €1.5m | €1.9m | €2.0m | €1.9m | ▼ 6.4% |
| Intangible fixed assets21 | €13,564 | €9,205 | €5,232 | €1,260 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €577,395 | €906,664 | €1.3m | €1.4m | €1.3m | ▼ 9.1% |
| Land and buildings22 | €429,044 | €786,788 | €922,425 | €1.1m | €1.1m | ▼ 4.7% |
| Plant, machinery and equipment23 | €1,832 | €8,034 | €13,944 | €26,511 | €21,313 | ▼ 19.6% |
| Furniture and vehicles24 | €146,518 | €111,843 | €322,960 | €280,227 | €208,549 | ▼ 25.6% |
| Financial fixed assets28 | €602,885 | €602,885 | €602,635 | €605,048 | €605,048 | = |
| Current assets29/58 | €6.2m | €6.0m | €6.7m | €8.0m | €6.7m | ▼ 16.6% |
| Amounts receivable after more than one year29 | €75,000 | €165,000 | €0 | - | - | - |
| Other amounts receivable291 | €75,000 | €165,000 | €0 | - | - | - |
| Stocks and contracts in progress3 | €2.0m | €1.7m | €3.4m | €4.3m | €3.0m | ▼ 28.4% |
| Stocks30/36 | €318,289 | €119,472 | €1.5m | €1.4m | €3,764 | ▼ 99.7% |
| Contracts in progress37 | €1.7m | €1.6m | €1.9m | €2.9m | €3.0m | ▲ 6.6% |
| Amounts receivable within one year40/41 | €2.5m | €3.4m | €3.1m | €3.6m | €3.3m | ▼ 7.3% |
| Trade receivables40 | €5,675 | €153,776 | €50,672 | €126,078 | €110,882 | ▼ 12.1% |
| Other amounts receivable41 | €2.5m | €3.2m | €3.1m | €3.5m | €3.2m | ▼ 7.2% |
| Current investments50/53 | €9,801 | €9,801 | €24,466 | €24,466 | €24,466 | = |
| Cash at bank and in hand54/58 | €1.5m | €743,653 | €145,274 | €148,736 | €287,966 | ▲ 93.6% |
| Deferred charges and accrued income490/1 | €41,860 | €10,765 | €26,237 | €14,185 | €11,049 | ▼ 22.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.4m | €7.5m | €8.6m | €10.1m | €8.6m | ▼ 14.6% |
| Equity10/15 | €4.6m | €4.9m | €4.5m | €4.1m | €5.0m | ▲ 21.3% |
| Contributions10/11 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Capital10 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Issued capital100 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Reserves13 | €90,495 | €4.7m | €4.3m | €3.9m | €4.8m | ▲ 22.5% |
| Non-distributable reserves130/1 | €22,500 | €22,500 | €22,500 | €22,500 | €22,500 | = |
| Legal reserve130 | €22,500 | €22,500 | €22,500 | €22,500 | €22,500 | = |
| Tax-exempt reserves132 | €53,000 | €53,000 | €53,000 | €53,000 | €53,000 | = |
| Distributable reserves133 | €14,995 | €4.6m | €4.2m | €3.8m | €4.7m | ▲ 23.0% |
| Profit (loss) carried forward14 | €4.3m | €0 | - | - | - | - |
| Amounts payable17/49 | €2.8m | €2.6m | €4.1m | €5.9m | €3.6m | ▼ 39.5% |
| Amounts payable after more than one year17 | €2.3m | €2.2m | €3.0m | €3.4m | €3.1m | ▼ 7.0% |
| Financial debts170/4 | €85,558 | €2.2m | €3.0m | €3.4m | €3.1m | ▼ 7.0% |
| Other amounts payable178/9 | €2.2m | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Amounts payable within one year42/48 | €410,901 | €351,566 | €965,008 | €2.4m | €374,048 | ▼ 84.6% |
| Current portion of amounts payable after more than one year42 | €30,801 | €30,958 | €73,783 | €75,639 | €77,556 | ▲ 2.5% |
| Financial debts43 | - | - | €725,000 | €1.7m | €104,308 | ▼ 93.9% |
| Credit institutions430/8 | - | - | €725,000 | €1.7m | €104,308 | ▼ 93.9% |
| Trade debts44 | €84,870 | €115,481 | €54,676 | €49,474 | €27,416 | ▼ 44.6% |
| Suppliers440/4 | €84,870 | €115,481 | €54,676 | €49,474 | €27,416 | ▼ 44.6% |
| Advances received on contracts in progress46 | €120,000 | €114,890 | €94,890 | €84,890 | €34,890 | ▼ 58.9% |
| Taxes, remuneration and social security45 | €167,295 | €84,761 | €6,052 | €1,795 | €65,548 | ▲ 3,551% |
| Taxes450/3 | €162,525 | €84,761 | €2,952 | €237 | €56,343 | ▲ 23,694% |
| Remuneration and social security454/9 | €4,770 | €0 | €3,100 | €1,559 | €9,205 | ▲ 491% |
| Other amounts payable47/48 | €7,936 | €5,477 | €10,608 | €515,683 | €64,330 | ▼ 87.5% |
| Accrued charges and deferred income492/3 | €64,015 | €72,611 | €93,657 | €137,441 | €80,719 | ▼ 41.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.8m | €343,538 | -€435,957 | -€372,736 | €878,533 | ▲ 336% |
| + Depreciation and write-downs630 | €77,373 | €77,872 | €91,331 | €159,277 | €165,568 | ▲ 3.9% |
| Operating cash flow (approximation) | €1.9m | €421,410 | -€344,626 | -€213,459 | €1.0m | ▲ 589% |
| Investment in fixed assets (approximation) | - | -€402,782 | -€439,774 | -€334,474 | -€33,989 | ▲ 89.8% |
| Change in cash | - | -€794,612 | -€598,379 | €3,462 | €139,230 | ▲ 3,922% |
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
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €878,533
Net result €878,533 after 2 loss-making years.
31-12
Financial
Liquidity times 5current ratio 17.89
Current ratio from 3.31 to 17.89; short-term debt falls from €2.4m to €374,048.
31-12
Financial
Equity above €5mEq €5.0m ▲21.3%
Equity rises from €4.1m to €5.0m.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 23 days late
2023
31-12
Financial
Weakest financial yearnet -€435,957
Net result drops to -€435,957, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
20-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 81 days late
2021
31-12
Financial
Highest result since 2018net €1.8m ▲477%
Operating result €2.5m, net result €1.8m, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 15.01
Current ratio from 3.74 to 15.01; short-term debt falls from €1.6m to €410,901.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Knokke-Heist · 1 establishment unit since 2006
Ground area
658 m²
Building footprint
410 m²
Volume, LiDAR
2,603 m³
Parcel 31013A0919/00D000, Flanders · tallest building 24.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
SALT
since 20062.152.417.033
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31013A0919/00D000 | Flanders | 658 m² | 1 · 410 m² | 24.3 m · 1 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 9,699 companies in sector 68121 we hold annual accounts for 7,384. 1,838 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-02-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
43350Other building finishing work
43990Other specialised construction activities
46190Agents in non-specialised wholesale trade
68322Real estate appraisal on a fee or contract basis
71111Activities of building architects
82300Organisation of conventions and trade shows
Scores and ratios are computed by Checked and are not a credit decision.