SD ADVISORY
ActiveSummary
The annual accounts of SD ADVISORY for fiscal year 2025 show a net loss of 72% of the equity at the start of that year. The 2025 annual accounts show equity of €2,640 and a net result of -€6,761. Equity is shrinking by ~29.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 11% of 31942 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-3
Solvency28▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.01 against 1.08 in 2024; short-term debt: 97.2% and cash: 97.2% of total assets), and 97.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
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 2025Solvency, return and age of the figures
Solvency
2.8%
Return on assets
-7.1%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€6,761
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 31942 sector peers (2025).
NBB · sector comparisonPosition among 31942 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 06-01-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
10 d early
2023
6 d early
2022
50 d early
2021
53 d early
2020
52 d early
2019
42 d early
← 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 34 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 6 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€2,640▼ 71.9%
2024 · €9,401
Total assets
€94,625▼ 26.4%
2024 · €128,515
Net result
-€6,761▼ 5.3%
2024 · -€6,420
Working capital
€1,294▼ 85.8%
2024 · €9,146
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20212022202320242025
Operating result€645▼ 96.2%-€5,169-€8,523▼ 64.9%-€7,569▲ 11.2%-€8,027▼ 6.0%
Net result€21below the sector's middle half▼ 99.8%-€5,475below the sector's middle half-€8,879below the sector's middle half▼ 62.1%-€6,420below the sector's middle half▲ 27.7%-€6,761below the sector's middle half▼ 5.3%
Equity€30,174within the sector's middle half▲ 0.1%€24,699below the sector's middle half▼ 18.1%€15,820below the sector's middle half▼ 35.9%€9,401below the sector's middle half▼ 40.6%€2,640below the sector's middle half▼ 71.9%
Total assets€149,616within the sector's middle half▲ 3.0%€146,167within the sector's middle half▼ 2.3%€136,453within the sector's middle half▼ 6.6%€128,515within the sector's middle half▼ 5.8%€94,625within the sector's middle half▼ 26.4%
Debt€119,441▲ 3.8%€121,468▲ 1.7%€120,633▼ 0.7%€119,114▼ 1.3%€91,985▼ 22.8%
Working capital€25,057within the sector's middle half▲ 21.6%€22,475within the sector's middle half▼ 10.3%€15,820within the sector's middle half▼ 29.6%€9,146within the sector's middle half▼ 42.2%€1,294within the sector's middle half▼ 85.8%
Solvency20.2%below the sector's middle half▼ 0.6pp16.9%below the sector's middle half▼ 3.3pp11.6%below the sector's middle half▼ 5.3pp7.3%below the sector's middle half▼ 4.3pp2.8%below the sector's middle half▼ 4.5pp
Current ratio1.21within the sector's middle half▲ 0.031.19within the sector's middle half▼ 0.021.13within the sector's middle half▼ 0.051.08within the sector's middle half▼ 0.051.01within the sector's middle half▼ 0.06
Return on assets (ROA)0.0%below the sector's middle half▼ 8.0pp-3.7%below the sector's middle half▼ 3.8pp-6.5%below the sector's middle half▼ 2.8pp-5.0%below the sector's middle half▲ 1.5pp-7.1%below the sector's middle half▼ 2.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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 stays negative: a loss of €8,027 in 2025 against €7,569 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €94,625
Fixed assets
€1,346 ▲ 429%
Current assets
€93,279 ▼ 27.3%
Equity and liabilities €94,625
Equity
€2,640 ▼ 71.9%
Debt
€91,985 ▼ 22.8%
Debt's share of the balance-sheet total rises from 92.7% to 97.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€7,818▼
2024 · -€7,498
Cash flow
-€6,552▼
2024 · -€6,348
Debt to equity
34.84▲
2024 · 12.67
ROE
-256.1%▼
2024 · -68.3%
Interest coverage
-24.74▲
2024 · -31.26
Debt ≤ 1 year
€91,985▼
2024 · €119,114
Income taxes
€165▲
2024 · €160
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 974 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a small loss
2.1%
went bankrupt
4.5%
stopped otherwise
93%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 974 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €7,025 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,428 | €2,894 | €2,224 | €71 | €209 | ▲ 192% |
| Other operating charges640/8 | - | €680 | €710 | €765 | €794 | ▲ 3.7% |
| Gross operating margin9900 | €5,749 | -€1,595 | -€5,590 | -€6,732 | -€7,025 | ▼ 4.3% |
| Operating profit (loss)9901 | €645 | -€5,169 | -€8,523 | -€7,569 | -€8,027 | ▼ 6.0% |
| Financial income75/76B | - | - | €63 | €1,550 | €1,748 | ▲ 12.8% |
| Recurring financial income75 | €6 | - | €63 | €1,550 | €1,748 | ▲ 12.8% |
| Financial charges65/66B | - | €187 | €205 | €240 | €316 | ▲ 31.8% |
| Recurring financial charges65 | €133 | €187 | €205 | €240 | €316 | ▲ 31.8% |
| Profit (loss) for the period before taxes9903 | €519 | -€5,356 | -€8,665 | -€6,260 | -€6,596 | ▼ 5.4% |
| Income taxes67/77 | €498 | €120 | €213 | €160 | €165 | ▲ 3.1% |
| Profit (loss) for the period9904 | €21 | -€5,475 | -€8,879 | -€6,420 | -€6,761 | ▼ 5.3% |
| Profit (loss) for the period to be appropriated9905 | €21 | -€5,475 | -€8,879 | -€6,420 | -€6,761 | ▼ 5.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €149,616 | €146,167 | €136,453 | €128,515 | €94,625 | ▼ 26.4% |
| Fixed assets21/28 | €5,117 | €2,224 | €0 | €255 | €1,346 | ▲ 429% |
| Intangible fixed assets21 | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €5,117 | €2,224 | €0 | €255 | €146 | ▼ 42.7% |
| Furniture and vehicles24 | - | €2,224 | €0 | €255 | €146 | ▼ 42.7% |
| Financial fixed assets28 | - | - | - | - | €1,200 | - |
| Current assets29/58 | €144,498 | €143,943 | €136,453 | €128,260 | €93,279 | ▼ 27.3% |
| Amounts receivable within one year40/41 | €37,117 | €827 | €3,347 | €1,789 | €1,334 | ▼ 25.5% |
| Trade receivables40 | - | €827 | €2,827 | €827 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €0 | €521 | €963 | €1,334 | ▲ 38.6% |
| Cash at bank and in hand54/58 | €107,381 | €143,116 | €133,106 | €126,471 | €91,945 | ▼ 27.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €149,616 | €146,167 | €136,453 | €128,515 | €94,625 | ▼ 26.4% |
| Equity10/15 | €30,174 | €24,699 | €15,820 | €9,401 | €2,640 | ▼ 71.9% |
| Contributions10/11 | - | €7,605 | €7,605 | €7,605 | €7,605 | = |
| Outside capital11 | - | €7,605 | €7,605 | €7,605 | €7,605 | = |
| Other1109/19 | - | €7,605 | €7,605 | €7,605 | €7,605 | = |
| Reserves13 | €24,283 | €24,283 | €24,283 | €24,283 | €24,283 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | - | €22,424 | €22,424 | €22,424 | €22,424 | = |
| Profit (loss) carried forward14 | -€1,714 | -€7,189 | -€16,068 | -€22,487 | -€29,248 | ▼ 30.1% |
| Amounts payable17/49 | €119,441 | €121,468 | €120,633 | €119,114 | €91,985 | ▼ 22.8% |
| Amounts payable within one year42/48 | €119,441 | €121,468 | €120,633 | €119,114 | €91,985 | ▼ 22.8% |
| Trade debts44 | €17,433 | €17,388 | €17,473 | €17,386 | €521 | ▼ 97.0% |
| Suppliers440/4 | - | €17,388 | €17,473 | €17,386 | €521 | ▼ 97.0% |
| Taxes, remuneration and social security45 | - | €2,699 | €675 | €278 | €286 | ▲ 3.1% |
| Taxes450/3 | - | €2,699 | €675 | €278 | €286 | ▲ 3.1% |
| Other amounts payable47/48 | - | €101,380 | €102,486 | €101,450 | €91,177 | ▼ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21 | -€5,475 | -€8,879 | -€6,420 | -€6,761 | ▼ 5.3% |
| + Depreciation and write-downs630 | €4,428 | €2,894 | €2,224 | €71 | €209 | ▲ 192% |
| Operating cash flow (approximation) | €4,449 | -€2,582 | -€6,655 | -€6,348 | -€6,552 | ▼ 3.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€326 | -€1,300 | ▼ 299% |
| Change in cash | - | €35,736 | -€10,010 | -€6,635 | -€34,526 | ▼ 420% |
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
06-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
21-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet -€8,879
Net result drops to -€8,879, the lowest in the series; recovery starts the following year.
2022
12-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
09-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
10-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Highest result since 2019net €11,695 ▲9%
Operating result €17,202, net result €11,695, both a record.
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
21-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
16-12
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 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, Dilbeek · 1 establishment unit since 2000
Ground area
1,087 m²
Building footprint
191 m²
Volume, LiDAR
903 m³
Parcel 23016D0190/00A002, Flanders · tallest building 6.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Baron R. de Vironlaan 89, 1700 Dilbeek
since 20002.099.369.614
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23016D0190/00A002 | Flanders | 1,087 m² | 1 · 191 m² | 6.2 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 82,642 companies in sector 70200 we hold annual accounts for 52,626. 10,345 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)
Founded24-11-1999
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0467507435
Also
9925:BE0467507435
Registered
22-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.