SDF Construct
ActiveSummary
SDF Construct has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €46,269 and a net result of €315,602. Equity is shrinking by about 11% per year across the filed financial years. Its solvency ranks better than 18% of 11,191 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €46,269
- Profit
- €315,602
- Parent
- Steenoven Development Fund · 100%
- Steenoven Development Fund CVDirector · permanent representative Katleen Spriet
Why 93raises riskEquity €46,269 (1.1% of total assets)lowers riskSize: total assets €4.4mFigures for financial year 2025 (filed 10-07-2026)Sector: Real estate activities (NACE 68)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 68, small): better than 17% on solvency, 14% on liquidity, 55% on profitability and 94% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 2 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Highest result from 2019 to 2025net €315,602 ▲117%
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 71% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 875 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96.6% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 875 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,110 | €0 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | €1,052 | €2,993 | €3,781 | €3,202 | €857 | ▼ 73.2% |
| Gross operating margin9900 | €20,620 | €56,148 | €155,421 | €302,930 | -€437,189 | €219,367 | €370,767 | ▲ 69.0% |
| Operating profit (loss)9901 | €14,398 | €55,619 | €154,369 | €299,936 | -€440,969 | €216,165 | €369,910 | ▲ 71.1% |
| Financial income75/76B | - | - | €184 | €9,520 | €13,343 | €28,768 | €14,318 | ▼ 50.2% |
| Recurring financial income75 | - | €0 | €184 | €9,520 | €13,343 | €28,768 | €14,318 | ▼ 50.2% |
| Financial charges65/66B | - | - | €157,459 | €186,226 | €187,313 | €99,691 | €68,626 | ▼ 31.2% |
| Recurring financial charges65 | €24,418 | €60,255 | €157,459 | €186,226 | €187,313 | €99,691 | €68,626 | ▼ 31.2% |
| Profit (loss) for the period before taxes9903 | -€10,020 | -€4,636 | -€2,907 | €123,230 | -€614,939 | €145,241 | €315,602 | ▲ 117% |
| Income taxes67/77 | - | - | - | €28,327 | -€25 | €0 | - | - |
| Profit (loss) for the period9904 | -€10,020 | -€4,636 | -€2,907 | €94,903 | -€614,914 | €145,241 | €315,602 | ▲ 117% |
| Profit (loss) for the period to be appropriated9905 | -€10,020 | -€4,636 | -€2,907 | €94,903 | -€614,914 | €145,241 | €315,602 | ▲ 117% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.2m | €2.7m | €7.5m | €13.3m | €11.4m | €6.8m | €4.4m | ▼ 35.6% |
| Fixed assets21/28 | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.2m | ▲ 24× |
| Financial fixed assets28 | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.2m | ▲ 24× |
| Current assets29/58 | €1.2m | €2.7m | €7.5m | €13.3m | €11.4m | €6.8m | €4.1m | ▼ 39.2% |
| Stocks and contracts in progress3 | €1.0m | €2.4m | €6.6m | €8.0m | €7.9m | €4.5m | €2.7m | ▼ 40.2% |
| Stocks30/36 | - | - | €6.6m | €8.0m | €7.9m | €4.5m | €2.7m | ▼ 40.2% |
| Amounts receivable within one year40/41 | €0.03m | €0.04m | €0.6m | €0.5m | €1.1m | €1.4m | €0.8m | ▼ 42.3% |
| Trade receivables40 | - | - | €0.6m | €0.5m | €1.0m | €1.2m | €0.8m | ▼ 38.1% |
| Other amounts receivable41 | - | - | €0 | - | €0.2m | €0.2m | €0.05m | ▼ 71.8% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.3m | €4.7m | €2.4m | €0.9m | €0.6m | ▼ 32.2% |
| Deferred charges and accrued income490/1 | - | - | €0.005m | €0.02m | €0.004m | €0 | €0.03m | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.2m | €2.7m | €7.5m | €13.3m | €11.4m | €6.8m | €4.4m | ▼ 35.6% |
| Equity10/15 | €0.1m | €0.1m | €0.1m | €0.2m | -€0.4m | -€0.3m | €0.05m | - |
| Contributions10/11 | €0.1m | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | - | - | - | €0.08m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.08m | €0 | - | - | - |
| Profit (loss) carried forward14 | -€0.01m | -€0.01m | -€0.02m | €0 | -€0.5m | -€0.4m | -€0.08m | ▲ 80.4% |
| Amounts payable17/49 | €1.1m | €2.6m | €7.4m | €13.1m | €11.8m | €7.1m | €4.3m | ▼ 38.7% |
| Amounts payable within one year42/48 | €1.1m | €2.6m | €7.4m | €13.1m | €11.8m | €7.1m | €4.3m | ▼ 38.7% |
| Financial debts43 | - | - | €0 | €0.5m | €0.1m | €0 | - | - |
| Credit institutions430/8 | - | - | €0 | €0.5m | €0.1m | €0 | - | - |
| Trade debts44 | €0.02m | €0.3m | €0.2m | €0.5m | €0.4m | €0.6m | €0.5m | ▼ 9.0% |
| Suppliers440/4 | - | - | €0.2m | €0.5m | €0.4m | €0.6m | €0.5m | ▼ 9.0% |
| Advances received on contracts in progress46 | - | - | €4.0m | €8.1m | €7.4m | €3.2m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Taxes450/3 | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Other amounts payable47/48 | - | - | €3.0m | €3.8m | €3.9m | €3.3m | €3.8m | ▲ 16.3% |
| Accrued charges and deferred income492/3 | - | - | €0 | €0.002m | €0.001m | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.01m | -€0.005m | -€0.003m | €0.09m | -€0.6m | €0.1m | €0.3m | ▲ 117% |
| + Depreciation and write-downs630 | €0.005m | €0 | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€0.005m | -€0.005m | -€0.003m | €0.09m | -€0.6m | €0.1m | €0.3m | ▲ 117% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0.006m | €0 | -€0.2m | - |
| Change in cash | - | €0.1m | -€0.02m | €4.4m | -€2.4m | -€1.5m | -€0.3m | ▲ 80.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 10-07-2026 | 2026-00287377 |
| 31-12-2024 | abbreviated format | 08-07-2025 | 2025-00249479 |
| 31-12-2023 | abbreviated format | 22-08-2024 | 2024-00371620 |
| 31-12-2022 | abbreviated format | 16-08-2023 | 2023-00339546 |
| 31-12-2021 | abbreviated format | 08-07-2022 | 2022-20169731 |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-62200520 |
| 31-12-2019 | abbreviated format | 15-07-2020 | 2020-30500051 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Steenoven Development Fund CV |
|
| 6 STONES |
|
| De Steenoven |
|
Owners and capital
Owners
1 ownerChain of control
- Steenoven Development Fund
- SDF Construct
Highest known parent: Steenoven Development Fund. The sources do not say who stands above it.
Owners 1
-
100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- enige aandeelhouder all shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 16-04-2025 Converted to available equity
Group and network
Connections & network
25 connected companiesShow 21 more companies with a shared director
History
Acts, filings and financial milestones
16-04
Gazette deed
Permanent representative: Katleen SprietAmendment of the articles · Capital conversion · Capital9 facts ▸
- General meeting, 10-04-2025
- Amendment of the articles (3 times)
- Capital conversion, “beschikbare inbreng” (deed in Dutch)
- Other provision, “volmacht algemene vergadering aan niet-aandeelhouder, mogelijkheid voorzien” (deed in Dutch)
- Board composition, STEENOVEN DEVELOPMENT FUND (enige niet statutair bestuurder)
- Permanent representative, Katleen Spriet
- Other provision, “kennisname notulen algemene vergadering en verslag bestuursorgaan, artikel 5:153 Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Capital
- Shareholding, “artikel 2:14,4° Wetboek vennootschappen en verenigingen, vennootschapsdossier” (deed in Dutch)
22-10
Gazette deed
Registered officeRegistered-office move · Power of attorney2 facts ▸
- Registered-office move, Kwadestraat 155 bus 12.1
- Power of attorney, Corneel Maertens
02-10
Gazette deed
Resignation: 6 Stones BV (director)Permanent representative: Katleen Spriet · Appointment: Steenoven Development Fund CV (director)3 facts ▸
- Director resignation, 6 Stones BV (director)
- Permanent representative, Katleen Spriet (2 times)
- Director appointment, Steenoven Development Fund CV (director)
12-01
Gazette deed
Resignation: De Steenoven (director)Appointment: 6 Stones (director) · Permanent representative: Katleen Spriet4 facts ▸
- General meeting, 17-05-2022
- Director resignation, De Steenoven (director)
- Director appointment, 6 Stones (director)
- Permanent representative, Katleen Spriet
Show earlier events
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 4 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0690.858.942
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36017A1278/00X003 | Flanders | 7,646 m² | 1 · 828 m² | 0.6 m |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “1.alle immobiliaire operaties of ermee verband houdende verrichtingen met name:de aankoop,verkoop,ruiling,het bouwen,het laten…” (deed in Dutch)
13 activities (deed in Dutch)
- 1.alle immobiliaire operaties of ermee verband houdende verrichtingen met name:de aankoop,verkoop,ruiling,het bouwen,het laten bouwen,afbraakwerken,het huren,verhuren,ter beschikking stellen van gebouwen en gronden,de omvorming of ombouwing en valorisatie van onroerende goederen,in voorkomend geval door middel van lotissering,verkaveling,nieuwbouw,heropbouw of verbouwing,alle activiteiten van makelaar in onroerende goederen;het beheer van alle roerende en onroerende goederen,onder meer het opstellen van huurcontracten,opmaken van plaatsbeschrijving,inventariëren van meubilair,het vervullen van de functie van syndicus,het opmaken van schattingen en expertises,opmaken van projecten,bouwbegeleiding,enzovoort,zonder dat deze opsommingen beperkend zijn,en dit zowel in België als in het buitenland;
- 2.de aanneming en de uitvoering van alle openbare en private bouwwerken,alle onderaannemingen,afwerkingen en voltooiingswerken en in het algemeen alle verrichtingen die rechtstreeks of onrechtstreeks met het bouwvak in betrekking staan alsmede het fabriceren,de aankoop,verkoop,de consignatie,de vertegenwoordiging en commissiehandel van alle bouwmaterialen,grondstoffen en artikelen die bij het bouwen tussenkomen;
- 3.de coördinatie,de opvolging en het beheer van activiteiten en projecten zoals bepaald in punt 1 en 2.;
- 4.het optreden als tussenpersoon in de handel,dit in de ruimste zin van het woord;
- 5.het verst rekken van operationeel,financieel en intellectueel advies betreffende de commerciële organisatie en uitbating van productiebedrijven of dienstverlenende ondernemingen;
- 6.het verlenen van commercieel advies betreffende de marketing van producten van productie of dienstverlenende ondernemingen;
- 7.het verlenen van administratief,financieel en managementadvies betreffende het bestuur van diverse ondernemingen in de meest ruime zin van het woord;
- 8.het bestuur waarnemen van andere vennootschappen of ondernemingen en daarvoor vergoedingen ontvangen;
- 9.het beheren van bedrijfsruimtes en een onroerend patrimonium,het valoriseren van dit patrimonium door het stellen van alle bestuursdaden onder meer aankoop,verkoop,verhuren,in huur nemen,ruilen,oprichting,laten uitvoeren van bouwwerken en het ter beschikking stellen ervan,dit alles in de ruimste zin;
- 10.het beheren van een roerend patrimonium inzonderheid van het verwerven en verhandelen van effecten,de participatie in andere vennootschappen en/of ondernemingen,het stellen van zakelijke of persoonlijke waarborgen in het voordeel van derden;
- 11.het verwerven van licenties,brevetten en octrooien,alle rechten op knowhow en ontwikkelde procedés;
- 12.de vennootschap mag zich borgstellen of zakelijke zekerheden verstrekken ten voordele van derden of ondernemingen of vennootschappen waarin zij belangen bezit als mede-eigenaar,aandeelhouder,schuldeiser of op andere wijze;
- 13.zij mag op welke wijze ook betrokken zijn in zaken,ondernemingen of vennootschappen die hetzelfde,een soortgelijk,een gelijkaardig of samenhangend voorwerp hebben of die de ontwikkeling van haar onderneming kunnen bevorderen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SDF CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, één of meer bestuurders” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of June at 12:00