Equity
€6.5m ▲ 120%
Equity rose in 2025: merger with SDM ENGINEERING N.V..
SDM PROJECTS
Lifetime
16 annual accounts with figures on one time axispeak €5.3m (2025)
€5.3m▲ 26.0%
lowest -€383,469 (2023)
€3.6m▲ 63.8%
peak €6.5m (2025)
€6.5m▲ 120%
€1.1m▼ 77.2%
peak 15.7 FTE (2023)
10.2 FTE▲ 7.4%
Board7 names since 2021
4 directorsCorijn Christian and 3 others
Owners
Documentsfilings and deeds
16-06-202645 days before the deadline
2025financial year
Gross margin from €4.2m to €5.3mResult from €2.2m to €3.6m2 directors appointed, 1 resignation 22-12Merger: SDM PROJECTS takes over SDM ENGINEERING 18-02Equity from €3.0m to €6.5mDebts from €5.0m to €1.1m
Key points
from the 2025 annual accountsInvestments
€120,183 2.1 × depreciation
Green is investment, beige is depreciation.
Staff
10.2 FTE from 15.7 in 2023
Between 2023 and 2025, 35% of the full-time equivalents disappeared.
Liquidity
8.49 was 3.29 in 2024
Short-term debts fell from €2.3m to €872,299.
Filings
16 annual accounts since 2010
Two of the last ten came late. The 2021 accounts came latest: 142 days after the end of the period.
Board
2 joined · 1 left
Board changed. Latest change 31-12-2025 · 4 in office.
Net result +64%: merger
Checked score
100
Excellent
Financially stronger than 97% of small companies in fabricated metal products (NACE 25)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 748 companies (NACE 25, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.3%▲ +0.1 percentage points vs 01-2025
03-2025: 0.2%▼ -0.1 percentage points vs 02-2025
04-2025: 0.3%▲ +0.1 percentage points vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.5%▲ +0.2 percentage points vs 07-2025
09-2025: 0.6%▲ +0.1 percentage points vs 08-2025highest value
10-2025: < 0.1%▼ -0.6 percentage points vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 8.49, cash €4.2m
Equity €6.5m (85.2% of total assets)
Size: 10.2 FTE, total assets €7.7m
Founded in 2009
Calculation
The band follows from the bankruptcy probability. 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 25, small). It does better than 94% of them on solvency, 99% on liquidity, 99% on profitability and 98% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 17,811 companies had the same profile as SDM PROJECTS has now. Each dot stands for 45 companies, two years later.
96.5%
were still trading
3.2%
stopped another way
0.3%
went bankrupt
That fits the bankruptcy probability of SDM PROJECTS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for SDM PROJECTS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €650,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 8.49 (3.29 in 2024), above the usual 1.5. Short-term debt is 11.3% and cash 55.2% of total assets. 14.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 days early
2024
40 days late
2023
36 days early
2022
60 days early
2021
142 days late
2020
143 days early
2019
63 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 24 days before the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 June (3 of the last 3 accounts filed within 75 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Advices for Technical Systems 65%score 96equity €77.5m (2025) · 2025 annual accounts of Advices for Technical Systems
- Advices for Technical Systems (A.T.S.) consolidatesannual accounts 2025
Recent changes
Reappointment: BMS&C° (statutory auditor)
General meeting of 29-05-2026 · Gazette deed
2 directors appointed, 1 resignation
Resignation: Farendijs b.v. (managing director) · Permanent representative: Bavo De Man · Appointments: Lander Vanton (managing director) and Wim Eyckmans (managing director) · Gazette deed
Merger: SDM PROJECTS takes over SDM ENGINEERING
General meeting of 29-01-2025 · Gazette deed
Merger proposal: SDM PROJECTS N.V. takes over SDM ENGINEERING N.V.
The company holds all the shares of SDM ENGINEERING N.V. · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SDM PROJECTS Overijse | €7.7m | €5.3m | 85.2% | 10.2 |
| Creus Concrete Solutions Poperinge | €8.2m | €3.0m | 30.5% | 16.4 |
| ALGEMENE METAALBEWERKING SCHAERLAEKEN Zemst | €4.8m | €2.1m | 41.9% | 15.4 |
| DE SCHRYVERE Roeselare | €5.6m | €2.6m | 51.4% | 7 |
| DEMA-C Poperinge | €9.3m | €2.2m | 9.6% | 12 |
| LEXER Gouvy | €9.1m | €1.8m | 33.9% | 15.1 |
| DUTRY KONSTRUKT Ledegem | €6.5m | €2.4m | 57.4% | 9.2 |
These companies have the same main activity as SDM PROJECTS: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €4.8m and €9.3m, founded between 1995 and 2015.
Official details
Source: KBO- Status
- Active since 25-03-2009Normal situation
- Activity
- Manufacture of metal structures and parts of structuresNACE 25110and 4 others
- Joint committee
- 209White-collar workers in metal manufacturing · annual accounts 2025
- Establishment unit
- 2.228.571.9313090 Overijse, since 01-04-2009
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €9.2mestimated
- €7.7m▼ 3.6%
- Employeeson 31-12-2025
- 11▲ 10.0%
- Filing
- Filed on 16-06-2026, 45 days before the end of the filing period
Companies linked to SDM PROJECTS
Parent and group
Insights on SDM PROJECTS
SDM PROJECTS has existed since 2009. In 2021 the gross margin rose from €539,917 to €1.4m.
The gross margin has grown every year since. Solvency rose in 2025 from 37.2% to 85.2% because of the retained profit and lower debts.
Advices for Technical Systems holds 65% of the shares. In December 2025, the Official Gazette published the appointment of Lander Vanton as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SDM PROJECTS
- What is the company number of SDM PROJECTS?
- The company number of SDM PROJECTS is 0810.677.795. The VAT number is the same number with BE in front: BE 0810.677.795.
- Where is SDM PROJECTS based?
- The registered office is at Terhulpensesteenweg 362, 3090 Overijse.Company details
- What does SDM PROJECTS do?
- According to the KBO register, the main activity is manufacture of metal structures and parts of structures (NACE 25110).
- What is the legal form of SDM PROJECTS?
- SDM PROJECTS is a public limited company (NV).
- When was SDM PROJECTS founded?
- SDM PROJECTS was founded on 25-03-2009.
- Is SDM PROJECTS still active?
- Yes, SDM PROJECTS is an active enterprise in the KBO register.
- How many employees does SDM PROJECTS have?
- SDM PROJECTS had an average of 10.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does SDM PROJECTS fall under?
- In its 2025 annual accounts, SDM PROJECTS states joint committee 209 (White-collar workers in metal manufacturing).
- What is the turnover of SDM PROJECTS?
- The turnover in financial year 2025 is ≈ €9.2m. This figure is estimated from the gross margin of €5.3m and 1,586 comparable companies of the same size. It probably lies between €6.2m and €15.0m. It is a rough estimate.
- Is SDM PROJECTS profitable?
- In financial year 2025, SDM PROJECTS made a profit of €3.6m.
- Where can I find the annual accounts of SDM PROJECTS?
- SDM PROJECTS filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SDM PROJECTS due?
- SDM PROJECTS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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