SDM Advisory
ActiveSummary
SDM Advisory has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.5m and a net result of €4.9m. Equity is growing by ~34.7% per year across the filed fiscal years. Its solvency ranks better than 53% of 8782 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+7
Solvency81▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €900,000 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 0.61 in 2024; short-term debt: 18.9% and cash: 19.4% of total assets), and 44.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 · 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
55.6%
Return on assets
26.1%
Age of the figures
9 mo
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
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 07-06-2026, 54 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
54 d early
2024
45 d early
2023
45 d early
2022
46 d early
2021
49 d early
2020
57 d early
2019
54 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 50 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 15 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€10.5m▲ 37.2%
2024 · €7.7m
Total assets
€18.9m▲ 4.3%
2024 · €18.1m
Net result
€4.9m▲ 38.9%
2024 · €3.6m
Working capital
€475,896
2024 · -€2.1m
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3.4m▲ 269%€5.3m▲ 53.7%€3.7m▼ 29.5%€4.1m▲ 9.0%€6.1m▲ 50.5%
Net result€3.0mabove the sector's middle half▲ 356%€4.3mabove the sector's middle half▲ 46.1%€2.9mabove the sector's middle half▼ 34.0%€3.6mabove the sector's middle half▲ 24.7%€4.9mabove the sector's middle half▲ 38.9%
Equity€3.3mabove the sector's middle half▲ 33.4%€5.4mabove the sector's middle half▲ 67.6%€7.0mabove the sector's middle half▲ 28.6%€7.7mabove the sector's middle half▲ 9.3%€10.5mabove the sector's middle half▲ 37.2%
Total assets€16.8mabove the sector's middle half▲ 26.1%€18.1mabove the sector's middle half▲ 8.1%€17.2mabove the sector's middle half▼ 5.1%€18.1mabove the sector's middle half▲ 5.4%€18.9mabove the sector's middle half▲ 4.3%
Debt€13.5m▲ 24.4%€12.7m▼ 6.2%€10.2m▼ 19.6%€10.5m▲ 2.8%€8.4m▼ 19.8%
Working capital-€1.7mbelow the sector's middle half▼ 63.3%-€2.0mbelow the sector's middle half▼ 12.6%-€1.6mbelow the sector's middle half▲ 17.0%-€2.1mbelow the sector's middle half▼ 29.5%€475,896above the sector's middle half
Solvency19.4%below the sector's middle half▲ 1.1pp30.1%within the sector's middle half▲ 10.7pp40.8%within the sector's middle half▲ 10.7pp42.3%within the sector's middle half▲ 1.5pp55.6%within the sector's middle half▲ 13.3pp
Current ratio0.61within the sector's middle half▲ 0.120.61within the sector's middle half=0.58below the sector's middle half▼ 0.030.61below the sector's middle half▲ 0.031.13within the sector's middle half▲ 0.52
Return on assets (ROA)17.7%above the sector's middle half▲ 12.8pp23.9%above the sector's middle half▲ 6.2pp16.6%above the sector's middle half▼ 7.3pp19.6%above the sector's middle half▲ 3.0pp26.1%above the sector's middle half▲ 6.5pp
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 abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Net result +356% on 2020. The previous fiscal year ran 14 months, this one 12. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 51% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.9m
Fixed assets
€14.9m =
Current assets
€4.1m ▲ 24.1%
Equity and liabilities €18.9m
Equity
€10.5m ▲ 37.2%
Debt
€8.4m ▼ 19.8%
Debt's share of the balance-sheet total falls from 57.7% to 44.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6.3m▲
2024 · €4.2m
Cash flow
€5.1m▲
2024 · €3.7m
Debt to equity
0.80▼
2024 · 1.37
ROE
47.0%▲
2024 · 46.5%
Interest coverage
34.06▲
2024 · 15.54
Debt ≤ 1 year
€3.6m▼
2024 · €5.4m
Debt > 1 year
€4.1m▼
2024 · €5.0m
Income taxes
€998,255▲
2024 · €265,650
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €141,009 | €102,101 | €121,201 | €125,731 | €148,407 | ▲ 18.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €110,000 | - |
| Other operating charges640/8 | €12,126 | €70,654 | €21,811 | €24,638 | €22,037 | ▼ 10.6% |
| Gross operating margin9900 | €3.6m | €5.5m | €3.9m | €4.2m | €6.4m | ▲ 51.8% |
| Operating profit (loss)9901 | €3.4m | €5.3m | €3.7m | €4.1m | €6.1m | ▲ 50.5% |
| Financial income75/76B | €1 | €1,183 | €10,333 | €32,755 | €12,158 | ▼ 62.9% |
| Recurring financial income75 | €1 | €1,183 | €10,333 | €32,755 | €12,158 | ▼ 62.9% |
| Financial charges65/66B | €274,630 | €283,852 | €324,147 | €269,385 | €183,770 | ▼ 31.8% |
| Recurring financial charges65 | €274,630 | €283,852 | €324,147 | €269,385 | €183,770 | ▼ 31.8% |
| Profit (loss) for the period before taxes9903 | €3.2m | €5.0m | €3.4m | €3.8m | €5.9m | ▲ 55.3% |
| Income taxes67/77 | €204,903 | €678,299 | €557,057 | €265,650 | €998,255 | ▲ 276% |
| Profit (loss) for the period9904 | €3.0m | €4.3m | €2.9m | €3.6m | €4.9m | ▲ 38.9% |
| Profit (loss) for the period to be appropriated9905 | €3.0m | €4.3m | €2.9m | €3.6m | €4.9m | ▲ 38.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €16.8m | €18.1m | €17.2m | €18.1m | €18.9m | ▲ 4.3% |
| Fixed assets21/28 | €14.0m | €15.1m | €15.0m | €14.9m | €14.9m | = |
| Tangible fixed assets22/27 | €2.0m | €3.1m | €3.0m | €2.9m | €2.9m | ▼ 0.1% |
| Land and buildings22 | €2.0m | €2.9m | €2.9m | €2.8m | €2.8m | ▲ 0.3% |
| Furniture and vehicles24 | €50,979 | €122,119 | €106,467 | €76,896 | €65,094 | ▼ 15.3% |
| Financial fixed assets28 | €12.0m | €12.0m | €12.0m | €12.0m | €12.0m | = |
| Current assets29/58 | €2.7m | €3.1m | €2.2m | €3.3m | €4.1m | ▲ 24.1% |
| Amounts receivable within one year40/41 | €983,702 | €82,225 | €1.6m | €1.5m | €117,516 | ▼ 92.3% |
| Trade receivables40 | €279,558 | €24 | €1.6m | €442,307 | €113,971 | ▼ 74.2% |
| Other amounts receivable41 | €704,144 | €82,201 | €10,500 | €1.1m | €3,545 | ▼ 99.7% |
| Current investments50/53 | €252,430 | €252,430 | €252,430 | €752,430 | €252,430 | ▼ 66.5% |
| Cash at bank and in hand54/58 | €1.5m | €2.7m | €326,802 | €751,190 | €3.7m | ▲ 389% |
| Deferred charges and accrued income490/1 | - | €9,000 | €10,333 | €235,070 | €6,158 | ▼ 97.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €16.8m | €18.1m | €17.2m | €18.1m | €18.9m | ▲ 4.3% |
| Equity10/15 | €3.3m | €5.4m | €7.0m | €7.7m | €10.5m | ▲ 37.2% |
| Contributions10/11 | €2.2m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Reserves13 | €1.0m | €3.2m | €4.8m | €5.5m | €8.3m | ▲ 52.3% |
| Distributable reserves133 | €1.0m | €3.2m | €4.8m | €5.5m | €8.3m | ▲ 52.3% |
| Amounts payable17/49 | €13.5m | €12.7m | €10.2m | €10.5m | €8.4m | ▼ 19.8% |
| Amounts payable after more than one year17 | €8.9m | €7.4m | €6.0m | €5.0m | €4.1m | ▼ 16.9% |
| Financial debts170/4 | €8.9m | €7.4m | €6.0m | €5.0m | €4.1m | ▼ 16.9% |
| Amounts payable within one year42/48 | €4.5m | €5.0m | €3.8m | €5.4m | €3.6m | ▼ 33.4% |
| Current portion of amounts payable after more than one year42 | €1.2m | €1.4m | €1.4m | €992,711 | €844,810 | ▼ 14.9% |
| Financial debts43 | €149,264 | €517,095 | - | €100,000 | - | - |
| Credit institutions430/8 | €149,264 | €517,095 | - | €100,000 | - | - |
| Trade debts44 | €137,751 | €594,820 | €168,153 | €927,908 | €483,208 | ▼ 47.9% |
| Suppliers440/4 | €137,751 | €594,820 | €168,153 | €927,908 | €483,208 | ▼ 47.9% |
| Taxes, remuneration and social security45 | €19 | - | €57,057 | - | - | - |
| Taxes450/3 | €19 | - | €57,057 | - | - | - |
| Other amounts payable47/48 | €3.0m | €2.5m | €2.2m | €3.3m | €2.2m | ▼ 32.8% |
| Accrued charges and deferred income492/3 | €179,744 | €307,264 | €378,806 | €114,281 | €679,881 | ▲ 495% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3.0m | €4.3m | €2.9m | €3.6m | €4.9m | ▲ 38.9% |
| + Depreciation and write-downs630 | €141,009 | €102,101 | €121,201 | €125,731 | €148,407 | ▲ 18.0% |
| Operating cash flow (approximation) | €3.1m | €4.4m | €3.0m | €3.7m | €5.1m | ▲ 38.2% |
| Investment in fixed assets (approximation) | - | -€1.1m | -€43,935 | €2 | -€144,469 | ▼ 7,223,543% |
| Change in cash | - | €1.2m | -€2.4m | €424,388 | €2.9m | ▲ 589% |
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
07-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
05-05
State Gazette act
Appointment: COLVERLA BV (class A director)Permanent representative: Alexander Colpaert · Declaration · Power of attorney8 facts ▸
State Gazette act
Appointment: COLVERLA BV (class A director)
Permanent representative: Alexander Colpaert · Declaration · Power of attorney8 facts ▸
- Director appointment, COLVERLA BV (class A director)
- Permanent representative, Alexander Colpaert (permanent representative)
- Declaration, geen veroordeling tot verbod, geen veroordeling door rechtscollege van EER-lidstaat tot verbod gelijk aan art. 6 wet 4 mei 2023, art. 1, 1bis, 2 KB 24/10/1934,…
- Power of attorney, Maxime Monard
- Power of attorney, Stefan Jacobs
- Power of attorney, Sofie Foets
- Power of attorney, Marie Hansen
- Power of attorney, Karolien De Vleeschauwer
2025
31-12
Financial
Highest result since 2018net €4.9m ▲38.9%
Operating result €6.1m, net result €4.9m, both a record.
31-12
Financial
Equity above €10mEq €10.5m ▲37.2%
8 profitable years in a row build equity to €10.5m.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €5mEq €5.4m ▲67.6%
5 profitable years in a row build equity to €5.4m.
12-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €2mEq €2.4m ▲945%
3 profitable years in a row build equity to €2.4m.
07-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
05-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
COLVERLA BV
CurrentClass A director · since 01-01-2026 · Legal entity · perm. rep.: Alexander Colpaert
Permanent representatives 1
Alexander Colpaert
CurrentPermanent representative · since 01-01-2026 · for COLVERLA BV
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
12 of this company's 13 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2002
Ground area
2,073 m²
Building footprint
899 m²
Volume, LiDAR
7,583 m³
Parcel 11006A0226/03M002, Flanders · tallest building 24.2 m, ±2 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
SDM Advisory
since 20022.096.198.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11006A0226/03M002 | Flanders | 2,073 m² | 1 · 899 m² | 24.2 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| COLVERLA BV |
|
Structure & network
Owners and holdings
1 owner · 2 holdings · 2 subsidiaries in the treeChain of control
- SDM
- SDM Advisory
Highest known parent: SDM. The sources do not say who stands above it.
Owners 1
- SDMparentSourceaccounts SDM 202599.99%
Holdings 2
-
99.99%
-
0.06%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
SDM-Valorum Corporate Finance Group 99.99%1 subsidiary
- SDM-VALORUM 99.83%
According to the 2025 annual accounts of SDM Advisory and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
Recognitions · licences · registrations
Legal Entity Identifier
699400MFVC44D61FWE80
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Identification & contact
Identification
Legal formPrivate limited company
Founded16-04-2002
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477349668
Also
9925:BE0477349668
Registered
23-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.