SDB 2

Active

Public limited companyfounded 201213 yrs activeAvenue Ernest Solvay 29, 1480 Tubize, BelgiumKBO/BCE: BE 0848.964.388

SDB 2 has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €156k and a net result of €109k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 4123 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2025

45 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability48▲+9

Solvency30▲+2

Growth78=

Track record100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €7k at 30 days acceptable

Liquidity short (current ratio 0.04 against 0.03 in 2024; short-term debt: 93.9% and cash: 1.8% of total assets), and 94.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Ten signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

5.3%

Return on assets

3.7%

Age of the figures

17 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 4123 sector peers (2025).

NBB · sector comparison

Position among 4123 sector peers

Solvency

better than 16%

← weakest strongest →

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

19202122232425

2019 to 2025 · latest year €156k

Latest accounts filed on time

The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 27-10-2025, 34 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

34 d early

2024

32 d early

2023

36 d early

2022

27 d early

2021

6 d late

2020

270 d late

2019

209 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today.

Companies Code · seven months

Position in the running window

30-04-2026 close17-09-2026 today30-11-2026 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€109k▲ 90.8%

2024 · €57k

2019: €-191k 2020: €90k 2021: €170k 2022: €174k 2023: €114k 2024: €57k

2019 → 2025

Working capital

€-2.65M▲ 9.0%

2024 · €-2.92M

2019: €-4.30M 2020: €-3.98M 2021: €-3.67M 2022: €-3.38M 2023: €-3.12M 2024: €-2.92M

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€-152k-€-15k▲ 90.2%€62k€83k▲ 33.1%€156k▲ 87.4%

Operating result€173k-€177k▲ 2.5%€189k▲ 6.7%€191k▲ 1.3%€203k▲ 5.9%

Net result€170k-€174k▲ 2.7%€114k▼ 34.6%€57k▼ 49.7%€109k▲ 90.8%

Result per fiscal year

Operating resultNet result

The operating result has risen four years in a row; 2025 is 6% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.93M

96.7%

Fixed assets €2.83M▼ 6.1%

Current assets €97k▲ 0.7%

Equity and liabilities €2.93M

94.7%

Equity €156k▲ 87.4%

Debt €2.77M▼ 8.4%

The debt ratio falls from 97.3% to 94.7%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€386k▲

2024 · €374k

Cash flow

€292k▲

2024 · €240k

Solvency

5.3%▲

2024 · 2.7%

Current ratio

0.04▲

2024 · 0.03

Quick ratio

0.04▲

2024 · 0.03

Debt / equity

17.79▼

2024 · 36.41

ROE

70.1%▲

2024 · 68.9%

ROA

3.7%▲

2024 · 1.8%

Interest coverage

2.97▲

2024 · 2.19

Debt

€2.77M▼

2024 · €3.03M

Debt ≤ 1 year

€2.75M▼

2024 · €3.01M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€3.11M€2.93M▼

Fixed assets21/28€3.02M€2.83M▼

Tangible fixed assets22/27€3.02M€2.83M▼

Land and buildings22€3.02M€2.83M▼

Current assets29/58€96k€97k▲

Amounts receivable within one year40/41€43k€45k▲

Trade receivables40€43k€45k▲

Cash at bank and in hand54/58€53k€51k▼

Equity and liabilities

Total equity and liabilities10/49€3.11M€2.93M▼

Equity10/15€83k€156k▲

Contributions10/11€271k€271k=

Capital10€271k€271k=

Issued capital100€271k€271k=

Reserves13€4k€4k=

Non-distributable reserves130/1€4k€4k=

Legal reserve130€4k€4k=

Profit (loss) carried forward14€-741k€-631k▲

Investment grants15€549k€512k▼

Amounts payable17/49€3.03M€2.77M▼

Amounts payable within one year42/48€3.01M€2.75M▼

Trade debts44€1k-

Suppliers440/4€1k-

Taxes, remuneration and social security45€8k€8k▲

Taxes450/3€8k€8k▲

Other amounts payable47/48€3.00M€2.74M▼

Accrued charges and deferred income492/3€17k€23k▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€183k€183k=

Other operating charges640/8€49k€55k▲

Gross operating margin9900€424k€440k▲

Operating profit (loss)9901€191k€203k▲

Financial income75/76B€37k€37k=

Recurring financial income75€37k€37k=

Financial charges65/66B€171k€130k▼

Recurring financial charges65€171k€130k▼

Profit (loss) for the period before taxes9903€57k€109k▲

Profit (loss) for the period9904€57k€109k▲

Profit (loss) for the period to be appropriated9905€57k€109k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-741k€-631k▲

Profit (loss) brought forward from the previous period14P€-798k€-741k▲

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

Next filing, fiscal year 2026, expected by 30-11-2026

2025

27-10

NBB filing Annual accounts filed

fiscal year 2025 · full schema

30-04

Financial Equity above €150kEq €156k ▲87.4%

6 profitable years in a row build equity to €156k.

2024

29-10

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2023

25-10

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2022

03-11

NBB filing Annual accounts filed

fiscal year 2022 · full schema

30-04

Financial Highest result since 2019net €174k ▲2.7%

Net result €174k, the highest in the series.

2021

06-12

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 6 days late

27-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 270 days late

2020

26-06

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 209 days late

30-04

Financial Back to profitnet €90k

Net result €90k after one loss-making year.

2018

14-12

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 14 days late

17-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 260 days late

2017

09-01

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 40 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

16 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, Tubize

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Avenue Ernest Solvay 291480 Tubize

Ground area

9,709 m²

Building footprint

6,318 m²

Volume, LiDAR

48,475 m³

Parcel 25097C0575/00B003, Wallonia · tallest building 9.3 m, ±3 floors. Linked by address, not a title deed.