SDG Project
ActiveSummary
SDG Project has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€93,801) and a net result of €94,304. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 13% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▲+35
Solvency20▲+3
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.33 against 1.82 in 2024; short-term debt: 60.2% and cash: 0.3% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 9336 sector peers (2025).
NBB · sector comparisonPosition among 9336 sector peers
Solvency
better than 13%
← weakest
strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
194 d late
2023
92 d late
2022
105 d late
2021
61 d late
2020
19 d late
2019
28 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 71 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€94,304
2024 · -€93,206
Working capital
€405,966▼ 52.0%
2024 · €846,342
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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€100,835▼ 8.4%€102,973▲ 2.1%€36,957▼ 64.1%-€14,641€149,020
Net result€12,700within the sector's middle half▼ 77.5%€60,904within the sector's middle half▲ 380%-€36,457below the sector's middle half-€93,206below the sector's middle half▼ 156%€94,304above the sector's middle half
Equity-€119,346below the sector's middle half▲ 9.6%-€58,442below the sector's middle half▲ 51.0%-€94,899below the sector's middle half▼ 62.4%-€188,105below the sector's middle half▼ 98.2%-€93,801below the sector's middle half▲ 50.1%
Total assets€3.6mwithin the sector's middle half▲ 10.2%€2.8mwithin the sector's middle half▼ 21.4%€2.4mwithin the sector's middle half▼ 12.5%€2.3mwithin the sector's middle half▼ 6.1%€2.0mwithin the sector's middle half▼ 11.3%
Debt€3.7m▲ 9.4%€2.9m▼ 22.4%€2.5m▼ 10.9%€2.5m▼ 2.2%€2.1m▼ 14.2%
Working capital€2.1mabove the sector's middle half▲ 69.0%€1.2mabove the sector's middle half▼ 40.7%€883,611within the sector's middle half▼ 29.1%€846,342within the sector's middle half▼ 4.2%€405,966within the sector's middle half▼ 52.0%
Solvency-3.4%below the sector's middle half▲ 0.7pp-2.1%below the sector's middle half▲ 1.3pp-3.9%below the sector's middle half▼ 1.8pp-8.2%below the sector's middle half▼ 4.3pp-4.6%below the sector's middle half▲ 3.6pp
Current ratio3.09within the sector's middle half▲ 0.392.12within the sector's middle half▼ 0.971.77within the sector's middle half▼ 0.341.82within the sector's middle half▲ 0.041.33within the sector's middle half▼ 0.48
Return on assets (ROA)0.4%within the sector's middle half▼ 1.4pp2.2%within the sector's middle half▲ 1.8pp-1.5%within the sector's middle half▼ 3.7pp-4.1%below the sector's middle half▼ 2.6pp4.6%within the sector's middle half▲ 8.7pp
Staff (FTE)0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €149,020 after a loss of €14,641 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€405,024 ▼ 2.1%
Current assets
€1.6m ▼ 13.3%
Key figures and ratios
EBITDA
€163,880▲
2024 · -€833
Cash flow
€109,164▲
2024 · -€79,398
Quick ratio
0.54▼
2024 · 0.68
Debt to equity
-22.74▼
2024 · -13.22
Interest coverage
2.88▲
2024 · -0.01
Debt ≤ 1 year
€1.2m▲
2024 · €1.0m
Debt > 1 year
€904,792▼
2024 · €1.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 522 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
3.6%
went bankrupt
1.7%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 522 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,335 | €14,701 | €14,327 | €13,809 | €14,860 | ▲ 7.6% |
| Other operating charges640/8 | €79,145 | €6,613 | €4,582 | €7,576 | €7,731 | ▲ 2.0% |
| Gross operating margin9900 | €194,315 | €124,287 | €55,866 | €6,744 | €171,611 | ▲ 2,445% |
| Operating profit (loss)9901 | €100,835 | €102,973 | €36,957 | -€14,641 | €149,020 | ▲ 1,118% |
| Financial income75/76B | €119 | €955 | €1,282 | €1,936 | €2,173 | ▲ 12.2% |
| Recurring financial income75 | €119 | €955 | €1,282 | €1,936 | €2,173 | ▲ 12.2% |
| Financial charges65/66B | €74,141 | €41,742 | €74,768 | €80,501 | €56,889 | ▼ 29.3% |
| Recurring financial charges65 | €74,141 | €41,742 | €74,768 | €80,501 | €56,889 | ▼ 29.3% |
| Profit (loss) for the period before taxes9903 | €26,813 | €62,187 | -€36,530 | -€93,206 | €94,304 | ▲ 201% |
| Income taxes67/77 | €14,113 | €1,282 | -€72 | - | - | - |
| Profit (loss) for the period9904 | €12,700 | €60,904 | -€36,457 | -€93,206 | €94,304 | ▲ 201% |
| Profit (loss) for the period to be appropriated9905 | €12,700 | €60,904 | -€36,457 | -€93,206 | €94,304 | ▲ 201% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.6m | €2.8m | €2.4m | €2.3m | €2.0m | ▼ 11.3% |
| Fixed assets21/28 | €450,008 | €435,307 | €420,980 | €413,884 | €405,024 | ▼ 2.1% |
| Tangible fixed assets22/27 | €446,958 | €432,257 | €417,930 | €410,834 | €395,974 | ▼ 3.6% |
| Land and buildings22 | €443,956 | €430,745 | €417,564 | €404,382 | €391,201 | ▼ 3.3% |
| Furniture and vehicles24 | €3,001 | €1,512 | €366 | €6,452 | €4,774 | ▼ 26.0% |
| Financial fixed assets28 | €3,050 | €3,050 | €3,050 | €3,050 | €9,050 | ▲ 197% |
| Current assets29/58 | €3.1m | €2.4m | €2.0m | €1.9m | €1.6m | ▼ 13.3% |
| Stocks and contracts in progress3 | €1.9m | €1.3m | €1.2m | €1.2m | €974,128 | ▼ 17.4% |
| Stocks30/36 | €1.9m | €1.3m | €1.2m | €1.2m | €974,128 | ▼ 17.4% |
| Amounts receivable within one year40/41 | €1.1m | €726,427 | €858,015 | €693,063 | €647,930 | ▼ 6.5% |
| Trade receivables40 | €135,308 | €153,379 | €250,142 | €23,896 | €0 | ▼ 100% |
| Other amounts receivable41 | €1.0m | €573,049 | €607,873 | €669,168 | €647,930 | ▼ 3.2% |
| Cash at bank and in hand54/58 | €18,919 | €361,261 | €13,993 | €9,643 | €6,531 | ▼ 32.3% |
| Deferred charges and accrued income490/1 | €2,906 | €2,234 | €2,558 | €3,030 | €5,816 | ▲ 91.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.6m | €2.8m | €2.4m | €2.3m | €2.0m | ▼ 11.3% |
| Equity10/15 | -€119,346 | -€58,442 | -€94,899 | -€188,105 | -€93,801 | ▲ 50.1% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€127,406 | -€66,502 | -€102,959 | -€196,165 | -€101,861 | ▲ 48.1% |
| Amounts payable17/49 | €3.7m | €2.9m | €2.5m | €2.5m | €2.1m | ▼ 14.2% |
| Amounts payable after more than one year17 | €2.7m | €1.7m | €1.4m | €1.4m | €904,792 | ▼ 37.4% |
| Financial debts170/4 | €2.7m | €1.7m | €1.4m | €1.4m | €901,015 | ▼ 37.5% |
| Other amounts payable178/9 | €3,777 | €3,777 | €3,777 | €3,777 | €3,777 | = |
| Amounts payable within one year42/48 | €1.0m | €1.1m | €1.1m | €1.0m | €1.2m | ▲ 18.3% |
| Current portion of amounts payable after more than one year42 | - | - | €24,403 | €3,255 | €29,422 | ▲ 804% |
| Financial debts43 | €244 | €1,424 | €52 | - | - | - |
| Credit institutions430/8 | €244 | €1,424 | €52 | - | - | - |
| Trade debts44 | €18,909 | €20,604 | - | - | €28,756 | - |
| Suppliers440/4 | €18,909 | €20,604 | - | - | €28,756 | - |
| Advances received on contracts in progress46 | - | €5,000 | - | - | - | - |
| Taxes, remuneration and social security45 | €900 | €9,201 | €1,465 | €665 | €0 | ▼ 100% |
| Taxes450/3 | €900 | €9,201 | €1,465 | €665 | €0 | ▼ 100% |
| Other amounts payable47/48 | €986,682 | €1.1m | €1.1m | €1.0m | €1.2m | ▲ 13.1% |
| Accrued charges and deferred income492/3 | - | - | - | €2,100 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,700 | €60,904 | -€36,457 | -€93,206 | €94,304 | ▲ 201% |
| + Depreciation and write-downs630 | €14,335 | €14,701 | €14,327 | €13,809 | €14,860 | ▲ 7.6% |
| Operating cash flow (approximation) | €27,035 | €75,605 | -€22,130 | -€79,398 | €109,164 | ▲ 237% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€6,713 | -€6,000 | ▲ 10.6% |
| Change in cash | - | €342,342 | -€347,268 | -€4,351 | -€3,112 | ▲ 28.5% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
10-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 194 days late
2025
31-12
Financial
Back to profitnet €94,304
Net result €94,304 after 2 loss-making years.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 92 days late
2023
13-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 105 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
2020
31-12
Financial
Back to profitnet €56,395
Net result €56,395 after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
31-12
Financial
Weakest financial yearnet -€166,055
Net result drops to -€166,055, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
26-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 148 days late
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 341 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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, Genappe · 1 establishment unit since 2010
Ground area
1,314 m²
Building footprint
169 m²
Volume, LiDAR
1,148 m³
Parcel 25013D0300/00X000, Wallonia · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue du Sclage 1, 1470 Genappe
since 20102.243.118.466
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25013D0300/00X000 | Wallonia | 1,314 m² | 1 · 169 m² | 9.5 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.
Similar companies · same sector and region
3B INVEST
BE 0897.065.601
Genappe
IMMOBILIERE CENTRALE DU BRABANT WALLON
BE 0849.986.056
Genappe
JOUR J.
BE 0441.397.807
Genappe
SMAG IMMO
BE 0897.584.154
Genappe
STRAUVEN
BE 0433.870.013
Genappe
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-04-2010
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68202Real estate activities
68204Real estate activities
71122Land surveying
E-invoicing
Reachable via Peppol
Peppol ID
0208:0825552152
Also
9925:BE0825552152
Registered
09-07-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.