SDO Projects
ActiveSummary
SDO Projects has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€3.1m) and a net result of -€21,511. Equity is shrinking by about 48% per year across the filed financial years. Its solvency ranks better than 5% of 11,191 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
- Equity
- -€3.1m
- Loss
- -€21,511
- Lauwers StijnDirector
- de huidige zaakvoerdersDirector
Why 53raises riskCapped at 59: negative equityLiquidity: current ratio 0.20, cash €73, halvedNegative equity -€3.1mlowers riskSize: total assets €788,541Sector: Real estate activities (NACE 68)Show the evidence
Checked score
About 1 in 100 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, micro): better than 5% on solvency, 1% on liquidity, 26% on profitability and 42% on growth.
The bankruptcy probability was computed on 28-10-2026 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 26 days after 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…
- Resignation: de huidige zaakvoerders (manager)Appointment: de huidige zaakvoerders (director)…
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €20,622 in 2025 against €73,492 in 2024; the loss shrinks.
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.
Average staff in full-time equivalents (FTE).
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), Staff (FTE).
Peer companies
Historical observationOf the 1,216 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 95.8% are still going.
- Small
- 10 to 20 years old
- negative equity
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
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 1,216 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0.05m | €0 | - | €0.01m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.06m | €0.6m | €0.001m | €0.02m | ▲ 18× |
| Non-recurring operating charges66A | - | - | - | €0 | - | €0.001m | €0.002m | €0 | ▼ 100% |
| Gross operating margin9900 | €0.03m | €0.02m | €0.5m | €0.02m | -€1.0m | €0.04m | -€0.07m | -€0.003m | ▲ 96.4% |
| Operating profit (loss)9901 | €0.03m | €0.02m | -€0.5m | €0.02m | -€1.1m | -€0.5m | -€0.07m | -€0.02m | ▲ 71.9% |
| Financial income75/76B | - | - | - | €0 | €1 | €182 | €0 | - | - |
| Recurring financial income75 | €10 | €0 | €0.001m | €0 | €1 | €182 | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.03m | €0.004m | €0.001m | ▼ 78.2% |
| Recurring financial charges65 | €0.007m | €0.001m | €0.02m | €0.03m | €0.03m | €0.03m | €0.004m | €0.001m | ▼ 78.2% |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.02m | -€0.5m | -€0.005m | -€1.1m | -€0.6m | -€0.08m | -€0.02m | ▲ 72.3% |
| Income taxes67/77 | €0.002m | €0.005m | €0.1m | €0.01m | €0 | €0.8m | €0.004m | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €0.02m | €0.01m | -€0.6m | -€0.02m | -€1.1m | -€1.3m | -€0.08m | -€0.02m | ▲ 73.7% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.01m | -€0.6m | -€0.02m | -€1.1m | -€1.3m | -€0.08m | -€0.02m | ▲ 73.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8.4m | €9.0m | €6.4m | €6.6m | €3.0m | €0.8m | €0.8m | €0.8m | = |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0 | - | - | - | - | - | - | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €8.4m | €9.0m | €6.4m | €6.6m | €3.0m | €0.8m | €0.8m | €0.8m | = |
| Stocks and contracts in progress3 | €4.4m | €7.4m | €4.7m | €5.0m | €2.1m | €0 | - | - | - |
| Stocks30/36 | - | - | - | €5.0m | €2.1m | €0 | - | - | - |
| Amounts receivable within one year40/41 | €1.4m | €1.1m | €1.6m | €1.6m | €0.9m | €0.8m | €0.8m | €0.8m | ▲ 0.1% |
| Trade receivables40 | - | - | - | €1.4m | €0.9m | €0.8m | €0.8m | €0.8m | = |
| Other amounts receivable41 | - | - | - | €0.2m | €0.001m | €0.005m | €478 | €0.001m | ▲ 112% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €2.7m | €0.5m | €0.08m | €0.03m | €0.004m | €67 | €0.001m | €73 | ▼ 90.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €375 | €0 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8.4m | €9.0m | €6.4m | €6.6m | €3.0m | €0.8m | €0.8m | €0.8m | = |
| Equity10/15 | €0.06m | €0.07m | -€0.6m | -€0.6m | -€1.7m | -€3.0m | -€3.1m | -€3.1m | ▼ 0.7% |
| Contributions10/11 | €0.05m | €0.05m | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Reserves13 | €0.009m | €0.02m | €465 | €465 | €465 | €465 | €465 | €465 | = |
| Non-distributable reserves130/1 | - | - | - | €465 | €465 | €465 | €465 | €465 | = |
| Reserves not available under the articles1311 | - | - | - | €465 | €465 | €465 | €465 | €465 | = |
| Profit (loss) carried forward14 | €0 | - | -€0.6m | -€0.6m | -€1.7m | -€3.1m | -€3.1m | -€3.2m | ▼ 0.7% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €8.4m | €8.9m | €6.9m | €7.2m | €4.7m | €3.8m | €3.9m | €3.9m | ▲ 0.6% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €8.4m | €8.9m | €6.9m | €7.2m | €4.7m | €3.8m | €3.9m | €3.9m | ▲ 0.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0 | - | - | - | - |
| Financial debts43 | - | - | - | €2.6m | €7 | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €2.6m | €7 | €0 | - | - | - |
| Trade debts44 | €0.2m | €0.3m | €0.3m | €0.03m | €0.1m | €0.03m | €0.01m | €0.01m | ▲ 3.9% |
| Suppliers440/4 | - | - | - | €0.03m | €0.1m | €0.03m | €0.01m | €0.01m | ▲ 3.9% |
| Advances received on contracts in progress46 | - | - | - | €2.9m | €2.6m | €0.1m | €0.1m | €0.1m | = |
| Taxes, remuneration and social security45 | - | - | - | €0.5m | €0.5m | €0 | - | - | - |
| Taxes450/3 | - | - | - | €0.5m | €0.5m | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €1.3m | €1.4m | €3.7m | €3.8m | €3.8m | ▲ 0.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | €0.01m | -€0.6m | -€0.02m | -€1.1m | -€1.3m | -€0.08m | -€0.02m | ▲ 73.7% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | €0.02m | €0.01m | -€0.6m | -€0.02m | -€1.1m | -€1.3m | -€0.08m | -€0.02m | ▲ 73.7% |
| Change in cash | - | -€2.1m | -€0.4m | -€0.05m | -€0.02m | -€0.004m | €0.001m | -€0.001m | - |
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 (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-07-2026 | 2026-00299192 |
| 31-12-2024 | abbreviated format | 27-08-2025 | 2025-00411747 |
| 31-12-2023 | abbreviated format | 23-07-2024 | 2024-00280048 |
| 31-12-2022 | abbreviated format | 20-09-2023 | 2023-00449414 |
| 31-12-2021 | abbreviated format | 14-07-2022 | 2022-20183694 |
| 31-12-2020 | abbreviated format | 25-11-2021 | 2021-78400590 |
| 31-12-2019 | abbreviated format | 31-08-2020 | 2020-47900459 |
| 31-12-2018 | abbreviated format | 26-09-2019 | 2019-66200444 |
| 31-12-2017 | abbreviated format | 03-07-2018 | 2018-26600416 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Lauwers Stijn |
|
| de huidige zaakvoerders |
|
| STILAM BV |
|
Owners and capital
Capital and shareholders
- 24-02-2026 Converted to unavailable equity · €50,000
- 24-02-2026 Converted to unavailable equity · €465.10
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
24-02
Gazette deed
Resignation: de huidige zaakvoerders (manager)Appointment: de huidige zaakvoerders (director) · Amendment of the articles · Capital conversion10 facts ▸
- General meeting, “unanimous” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch) (2 times)
- Reserve release, “opheffing van de statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Name change, SDO Projects
- Capital (2 times)
- Power of attorney
- Power of attorney, Sanne NEVEN
- Director resignation, de huidige zaakvoerders (manager)
- Director appointment, de huidige zaakvoerders (director (not named in the articles))
22-06
Gazette deed
Resignation: STILAM BV (director)Permanent representatives: Lauwers Stijn and Daan Mullens · Appointment: Lauwers Stijn (director) · Registered-office move6 facts ▸
- General meeting, 23-03-2023
- Registered-office move, Hendrik Van Veldekesingel 150 bus 182 te 3500 Hasselt
- Director resignation, STILAM BV (director)
- Permanent representative, Lauwers Stijn
- Director appointment, Lauwers Stijn (director)
- Permanent representative, Daan Mullens
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 2 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.
Environmental permits
The 10 most recent of 33 applications.
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 |
|---|---|---|---|---|
| 71326F0010/00C003 | Flanders | 5,413 m² | 1 · 1,479 m² | 20.9 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Projectontwikkeling en alle activiteiten die daarmee gepaard gaan zoals onder meer de verkoop en commercialisering van projecten in de…” (deed in Dutch)
11 activities (deed in Dutch)
- Projectontwikkeling en alle activiteiten die daarmee gepaard gaan zoals onder meer de verkoop en commercialisering van projecten in de ruimste zin van het woord. de promotie, realisatie,
- Het voor eigen rekening aanleggen, het oordeelkundig uitbouwen en beheren van een roerend en onroerend vermogen;
- Het beheer van en de handel in onroerende goederen voor eigen rekening. Zo kan de vennootschap onroerende goederen bouwen, renoveren, kopen en verkopen, huren en verhuren en alle mogelijke onroerende handelingen verrichten die daarmee verband houden. De vennootschap kan als waarborg voor eigen verbintenissen en voor verbintenissen van derden borg staan, onder meer door haar goederen in hypotheek of in pand te geven, inclusief de eigen handelszaak;
- De vennootschap mag investeringen en beleggingen uitvoeren (zoals onder meer de aankoop, het verhuren en het oprichten van roerende en onroerende goederen), met het oog op het vergoeden van haar bestuurder(s) in geld of in natura;
- Het waamemen van alle bestuursopdrachten, het uitoefenen van mandaten en functies die rechtstreeks of onrechtstreeks met haar voorwerp verband houden;
- Het in de ruimste zin van het woord verlenen van diensten - zowel consultancy als implementatie -, advies en bijstand aan particulieren, de bedrijfswereld en de overheid hieronder begrepen het verlenen van adviezen van financiële, technische, (bedrijfs-)economische, sociale, organisatorische, commerciële of administratieve aard, adviesverlening rond marketing en marketing communicatie;
- Het organiseren en geven van opleidingen in de ruimste zin van het woord;
- Het maken van studies van diverse aard;
- Zowel voor eigen rekening, voor rekening van derden, als in deelneming met derden, bijdragen tot de vestiging en de ontwikkeling van ondernemingen;
- Het verwerven, door inschrijving of aankoop, voor eigen rekening van aandelen, obligaties, kasbons of andere roerende waarden, van welke vorm ook, van Belgische of buitenlandse, bestaande of nog op te richten vennootschappen;
- Het toestaan van leningen en kredietopeningen aan vennootschappen en particulieren, onder om het even welke vorm. In dit kader kan zij zich ook borg stellen of aval verlenen, in de meest ruime zin, alle handels en financiële operaties verrichten behalve die welke wettelijk voorbehouden zijn aan depositobanken, houders van deposito's op korte termijn, spaarbanken, hypotheekmaatschappijen en kapitalisatieondememingen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SDO Projects
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, Artikel 2” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- The sole director
- Board ruleHow the board is made up, meets and takes decisions.
- 7 provisions in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- 2 provisions in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Aangetekende brief aan het bestuursorgaan, aandeelhouders die in gebreke blijven hun antwoord te versturen zoals voorzien, geacht zullen…” (deed in Dutch)2 more provisions on this in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Artikel 6, De aandeelhouder die nalaat tijdig aan deze verplichting te voldoen, zal een interest gelijk aan de wettelijke interest…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 30 June at 20:00
- Meeting noticeHow and how far ahead shareholders are invited to a meeting; by law at least fifteen days.
- One provision in the deed
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- One provision in the deed
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed