SD DISTRIBUTION
ActiveSummary
SD DISTRIBUTION has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of -€181,164. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 82% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▼-37
Solvency96▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity ample (current ratio 2.84 against 2.96 in 2024; short-term debt: 26.5% and cash: 16.6% of total assets), and 28.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
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
71.1%
Return on assets
-6.6%
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
34 d early
2023
19 d late
2022
64 d late
2021
13 d late
2020
54 d late
2019
96 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 27 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 company by equity in Quaregnon, Wholesale and retail trade sector#6 employer in Quaregnon, Wholesale and retail trade sector#7 company by total assets in Quaregnon, Wholesale and retail trade sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€181,164
2024 · €25,557
Working capital
€1.3m▼ 15.6%
2024 · €1.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail 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
Line20212022202320242025
Operating result€581,292▲ 245%-€7,305€140,529€76,312▼ 45.7%-€192,938
Net result€410,576above the sector's middle half▲ 238%€15,690within the sector's middle half▼ 96.2%-€10,832below the sector's middle half€25,557within the sector's middle half-€181,164below the sector's middle half
Equity€2.1mabove the sector's middle half▲ 24.3%€2.1mabove the sector's middle half▲ 0.7%€2.1mabove the sector's middle half▼ 0.5%€2.1mabove the sector's middle half▲ 1.2%€2.0mabove the sector's middle half▼ 8.5%
Total assets€4.1mabove the sector's middle half▲ 10.1%€3.5mabove the sector's middle half▼ 13.7%€3.2mabove the sector's middle half▼ 7.9%€3.1mabove the sector's middle half▼ 5.0%€2.7mabove the sector's middle half▼ 10.5%
Debt€2.0m▲ 1.6%€1.4m▼ 29.2%€1.1m▼ 19.1%€935,396▼ 16.8%€793,849▼ 15.1%
Working capital€1.4m▲ 30.3%€1.5m▲ 7.7%€1.6m▲ 6.2%€1.6m▼ 1.0%€1.3m▼ 15.6%
Solvency51.7%within the sector's middle half▲ 5.9pp60.4%above the sector's middle half▲ 8.7pp65.2%above the sector's middle half▲ 4.8pp69.5%above the sector's middle half▲ 4.3pp71.1%above the sector's middle half▲ 1.6pp
Staff (FTE)39.3above the sector's middle half▲ 14.2%35.9above the sector's middle half▼ 8.7%32.9above the sector's middle half▼ 8.4%32.5above the sector's middle half▼ 1.2%30.5above the sector's middle half▼ 6.2%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €192,938 after €76,312 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€679,619 ▲ 1.2%
Current assets
€2.1m ▼ 13.8%
Equity and liabilities €2.7m
Equity
€2.0m ▼ 8.5%
Debt
€793,849 ▼ 15.1%
Debt's share of the balance-sheet total falls from 30.5% to 28.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€163,408▼
2024 · €171,042
Cash flow
-€151,634▼
2024 · €120,286
Current ratio
2.84▼
2024 · 2.96
Quick ratio
1.35▼
2024 · 1.60
Debt to equity
0.41▼
2024 · 0.44
ROE
-9.3%▼
2024 · 1.2%
ROA
-6.6%▼
2024 · 0.8%
Interest coverage
-6.29▼
2024 · 3.34
Debt ≤ 1 year
€728,232▼
2024 · €811,022
Debt > 1 year
€65,617▼
2024 · €124,374
Income taxes
-€10,813▼
2024 · €178
Staff costs
€965,498▲
2024 · €942,098
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,685 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.5%
went bankrupt
5.5%
stopped otherwise
94%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% 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 497,058 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% | 1.6% |
| 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 74% 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 2,685 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €925,130 | €986,046 | €908,645 | €942,098 | €965,498 | ▲ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €231,857 | €232,504 | €208,253 | €94,729 | €29,530 | ▼ 68.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€69,000 | - | - | - | - | - |
| Other operating charges640/8 | €69,962 | €43,745 | €54,115 | €44,259 | €47,870 | ▲ 8.2% |
| Gross operating margin9900 | €1.7m | €1.3m | €1.3m | €1.2m | €849,960 | ▼ 26.6% |
| Operating profit (loss)9901 | €581,292 | -€7,305 | €140,529 | €76,312 | -€192,938 | ▼ 353% |
| Financial income75/76B | €9,838 | €590 | €2,835 | €674 | €26,958 | ▲ 3,901% |
| Recurring financial income75 | €1,346 | €590 | €2,835 | €674 | €26,958 | ▲ 3,901% |
| Non-recurring financial income76B | €8,492 | - | - | - | - | - |
| Financial charges65/66B | €28,359 | €21,573 | €34,228 | €51,252 | €25,997 | ▼ 49.3% |
| Recurring financial charges65 | €28,359 | €21,573 | €34,228 | €51,252 | €25,997 | ▼ 49.3% |
| Profit (loss) for the period before taxes9903 | €562,771 | -€28,288 | €109,136 | €25,735 | -€191,977 | ▼ 846% |
| Income taxes67/77 | €152,195 | -€43,978 | €119,968 | €178 | -€10,813 | ▼ 6,191% |
| Profit (loss) for the period9904 | €410,576 | €15,690 | -€10,832 | €25,557 | -€181,164 | ▼ 809% |
| Transfer from tax-exempt reserves789 | €31,000 | - | - | €53,400 | - | - |
| Profit (loss) for the period to be appropriated9905 | €441,576 | €15,690 | -€10,832 | €78,957 | -€181,164 | ▼ 329% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.1m | €3.5m | €3.2m | €3.1m | €2.7m | ▼ 10.5% |
| Fixed assets21/28 | €1.1m | €890,192 | €688,560 | €671,604 | €679,619 | ▲ 1.2% |
| Tangible fixed assets22/27 | €960,758 | €735,195 | €532,860 | €507,204 | €513,652 | ▲ 1.3% |
| Land and buildings22 | €654,624 | €538,500 | €427,103 | €444,744 | €440,280 | ▼ 1.0% |
| Plant, machinery and equipment23 | €43,701 | €17,433 | €3,368 | €1,508 | €2,157 | ▲ 43.0% |
| Furniture and vehicles24 | €50,713 | €35,133 | €22,453 | €12,749 | €9,126 | ▼ 28.4% |
| Other tangible fixed assets26 | €211,720 | €144,129 | €79,936 | €48,202 | €62,089 | ▲ 28.8% |
| Financial fixed assets28 | €154,997 | €154,997 | €155,700 | €164,400 | €165,967 | ▲ 1.0% |
| Current assets29/58 | €3.0m | €2.6m | €2.5m | €2.4m | €2.1m | ▼ 13.8% |
| Amounts receivable after more than one year29 | €232,000 | €232,000 | €232,000 | €264,767 | €264,767 | = |
| Other amounts receivable291 | €232,000 | €232,000 | €232,000 | €264,767 | €264,767 | = |
| Stocks and contracts in progress3 | €943,611 | €1.1m | €1.1m | €1.1m | €1.1m | ▼ 1.3% |
| Stocks30/36 | €943,611 | €1.1m | €1.1m | €1.1m | €1.1m | ▼ 1.3% |
| Amounts receivable within one year40/41 | €111,563 | €200,857 | €187,761 | €66,466 | €80,478 | ▲ 21.1% |
| Trade receivables40 | €78,961 | €118,090 | €104,994 | €65,928 | €60,949 | ▼ 7.6% |
| Other amounts receivable41 | €32,602 | €82,767 | €82,767 | €538 | €19,529 | ▲ 3,529% |
| Current investments50/53 | €339,436 | €35,864 | €40,061 | €170,284 | €181,284 | ▲ 6.5% |
| Cash at bank and in hand54/58 | €1.2m | €933,217 | €846,288 | €645,830 | €456,530 | ▼ 29.3% |
| Deferred charges and accrued income490/1 | €124,242 | €100,376 | €116,542 | €152,559 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.1m | €3.5m | €3.2m | €3.1m | €2.7m | ▼ 10.5% |
| Equity10/15 | €2.1m | €2.1m | €2.1m | €2.1m | €2.0m | ▼ 8.5% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €641,417 | €641,417 | €641,417 | €641,417 | €641,417 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | €53,400 | €53,400 | €53,400 | - | - | - |
| Distributable reserves133 | €586,157 | €586,157 | €586,157 | €641,417 | €641,417 | = |
| Profit (loss) carried forward14 | €1.4m | €1.5m | €1.5m | €1.5m | €1.3m | ▼ 12.2% |
| Amounts payable17/49 | €2.0m | €1.4m | €1.1m | €935,396 | €793,849 | ▼ 15.1% |
| Amounts payable after more than one year17 | €414,107 | €280,439 | €183,670 | €124,374 | €65,617 | ▼ 47.2% |
| Financial debts170/4 | €414,107 | €280,439 | €183,670 | €124,374 | €65,617 | ▼ 47.2% |
| Amounts payable within one year42/48 | €1.5m | €1.1m | €940,211 | €811,022 | €728,232 | ▼ 10.2% |
| Current portion of amounts payable after more than one year42 | €197,870 | €163,895 | €121,809 | €58,239 | €58,757 | ▲ 0.9% |
| Trade debts44 | €981,576 | €663,533 | €619,354 | €550,581 | €387,507 | ▼ 29.6% |
| Suppliers440/4 | €981,576 | €663,533 | €619,354 | €550,581 | €387,507 | ▼ 29.6% |
| Taxes, remuneration and social security45 | €368,941 | €280,429 | €198,309 | €201,463 | €281,229 | ▲ 39.6% |
| Taxes450/3 | €238,137 | €130,108 | €109,616 | €76,285 | €145,700 | ▲ 91.0% |
| Remuneration and social security454/9 | €130,804 | €150,321 | €88,693 | €125,178 | €135,529 | ▲ 8.3% |
| Other amounts payable47/48 | €739 | €739 | €739 | €739 | €739 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €410,576 | €15,690 | -€10,832 | €25,557 | -€181,164 | ▼ 809% |
| + Depreciation and write-downs630 | €231,857 | €232,504 | €208,253 | €94,729 | €29,530 | ▼ 68.8% |
| Operating cash flow (approximation) | €642,433 | €248,194 | €197,421 | €120,286 | -€151,634 | ▼ 226% |
| Investment in fixed assets (approximation) | - | -€6,941 | -€6,621 | -€77,773 | -€37,546 | ▲ 51.7% |
| Change in cash | - | -€265,947 | -€86,929 | -€200,458 | -€189,300 | ▲ 5.6% |
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
22-09
State Gazette act
Board meeting · Registered-office moveDirector in office3 facts ▸
State Gazette act
Board meeting · Registered-office move
Director in office3 facts ▸
- Board meeting, 28-07-2026
- Registered-office move, Route de Mons, 188 B-7390 Quaregnon
- Director in office, Sylvain DELESPAUL (director)
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€181,164
Net result drops to -€181,164, the lowest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €25,557
Net result €25,557 after one loss-making year.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 19 days late
2023
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 64 days late
2022
13-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 13 days late
2021
31-12
Financial
Highest result since 2018net €410,576 ▲238%
Operating result €581,292, net result €410,576, both a record.
31-12
Financial
Equity above €2mEq €2.1m ▲24.3%
4 profitable years in a row build equity to €2.1m.
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 54 days late
2020
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 96 days late
Show earlier events
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 22 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Quaregnon · 3 establishment units since 2007
Ground area
1.2 ha
Building footprint
1,134 m²
Volume, LiDAR
5,783 m³
2 parcels, Wallonia · tallest building 5.9 m, ±2 floors. Linked by address, not a title deed.
3 establishment units
SD DISTRIBUTION
since 20072.158.383.919
SD DISTRIBUTION
since 20132.223.505.957
SD DISTRIBUTION
since 20202.300.271.856
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53080A0060/00B000indicative | Wallonia | 1.1 ha | - | - |
| 52028B0393/00T004 | Wallonia | 1,115 m² | 1 · 1,134 m² | 5.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesCharleroi2.158.383.919
Quaregnon2.223.505.957
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Of 12,955 companies in sector 47120 we hold annual accounts for 2,193. 634 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
Founded21-11-2006
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
47552Retail sale of lighting equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0885116486
Registered
19-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.