SDSA
ActiveSummary
SDSA has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53k and a net result of €-11k. Equity is shrinking by ~21.7% per year across the filed fiscal years. Its solvency ranks better than 34% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability9▲+9
Solvency61▼-19
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.89 against 0.99 in 2024; short-term debt: 64.2% and cash: 3.2% of total assets), and 64.2% of the assets are financed with debt.
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Signals
Six 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35.8%
Return on assets
-7.4%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-11k
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 06-07-2026, 25 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
25 d early
2024
61 d late
2023
68 d late
2022
85 d late
2021
61 d late
2020
107 d late
2019
34 d late
← before the deadline
after the deadline →
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
25-09-2026 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 simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-11k▲ 89.2%
2024 · €-102k
Working capital
€-11k▼ 1,384%
2024 · €-722
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€37k▼ 8.2%€-505€-115k▼ 22,682%€-101k▲ 12.0%€-8k▲ 91.6%
Net result€30k▲ 32.1%€6k▼ 81.3%€-110k€-102k▲ 7.4%€-11k▲ 89.2%
Equity€270k▲ 12.4%€276k▲ 2.1%€166k▼ 39.9%€64k▼ 61.4%€53k▼ 17.2%
Total assets€501k▲ 13.3%€336k▼ 32.9%€279k▼ 17.0%€117k▼ 58.2%€148k▲ 27.1%
Debt€230k▲ 14.3%€60k▼ 74.0%€113k▲ 88.4%€52k▼ 53.5%€95k▲ 81.3%
Working capital€206k▲ 17.0%€209k▲ 1.5%€99k▼ 52.5%€-722€-11k▼ 1,384%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2025 against €101k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €148k
Fixed assets
€64k ▼ 1.6%
Current assets
€84k ▲ 63.1%
Equity and liabilities €148k
Equity
€53k ▼ 17.2%
Debt
€95k ▲ 81.3%
Debt's share of the balance-sheet total rises from 45.0% to 64.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-7k▲
2024 · €-99k
Cash flow
€-10k▲
2024 · €-100k
Current ratio
0.89▼
2024 · 0.99
Debt to equity
1.79▲
2024 · 0.82
ROE
-20.7%▲
2024 · -159.1%
ROA
-7.4%▲
2024 · -87.5%
Interest coverage
-3.33▲
2024 · -48.25
Debt ≤ 1 year
€95k▲
2024 · €52k
Income taxes
€298▼
2024 · €520
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 | €1k | €2k | €2k | €2k | €1k | ▼ 46.7% |
| Other operating charges640/8 | €6k | €526 | €3k | €4k | - | - |
| Non-recurring operating charges66A | - | - | - | €17k | - | - |
| Gross operating margin9900 | €45k | €2k | €-110k | €-78k | €-7k | ▲ 90.5% |
| Operating profit (loss)9901 | €37k | €-505 | €-115k | €-101k | €-8k | ▲ 91.6% |
| Financial income75/76B | €10k | €14k | €7k | €2k | - | - |
| Recurring financial income75 | €10k | €14k | €7k | €2k | - | - |
| Financial charges65/66B | €4k | €833 | €2k | €2k | €2k | ▲ 8.8% |
| Recurring financial charges65 | €4k | €833 | €2k | €2k | €2k | ▲ 8.8% |
| Profit (loss) for the period before taxes9903 | €44k | €13k | €-110k | €-101k | €-11k | ▲ 89.4% |
| Income taxes67/77 | €14k | €7k | €410 | €520 | €298 | ▼ 42.6% |
| Profit (loss) for the period9904 | €30k | €6k | €-110k | €-102k | €-11k | ▲ 89.2% |
| Transfer from tax-exempt reserves789 | - | - | €160k | €11k | - | - |
| Profit (loss) for the period to be appropriated9905 | €30k | €6k | €50k | €-91k | €-11k | ▲ 87.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €501k | €336k | €279k | €117k | €148k | ▲ 27.1% |
| Fixed assets21/28 | €65k | €67k | €67k | €65k | €64k | ▼ 1.6% |
| Tangible fixed assets22/27 | €56k | €59k | €59k | €57k | €56k | ▼ 1.8% |
| Furniture and vehicles24 | €56k | €59k | €59k | €57k | €56k | ▼ 1.8% |
| Financial fixed assets28 | €8k | €8k | €8k | €8k | €8k | = |
| Current assets29/58 | €436k | €269k | €212k | €52k | €84k | ▲ 63.1% |
| Amounts receivable after more than one year29 | €160k | €160k | €160k | - | - | - |
| Other amounts receivable291 | €160k | €160k | €160k | - | - | - |
| Amounts receivable within one year40/41 | €166k | €55k | €31k | €49k | €80k | ▲ 62.7% |
| Trade receivables40 | €153k | €50k | €30k | €35k | €74k | ▲ 114% |
| Other amounts receivable41 | €13k | €5k | €493 | €14k | €5k | ▼ 63.5% |
| Cash at bank and in hand54/58 | €83k | €29k | €692 | €105 | €5k | ▲ 4,341% |
| Deferred charges and accrued income490/1 | €27k | €25k | €20k | €3k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €501k | €336k | €279k | €117k | €148k | ▲ 27.1% |
| Equity10/15 | €270k | €276k | €166k | €64k | €53k | ▼ 17.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €172k | €172k | €11k | - | - | - |
| Tax-exempt reserves132 | €172k | €172k | €11k | - | - | - |
| Profit (loss) carried forward14 | €80k | €86k | €136k | €45k | €34k | ▼ 24.2% |
| Amounts payable17/49 | €230k | €60k | €113k | €52k | €95k | ▲ 81.3% |
| Amounts payable within one year42/48 | €230k | €60k | €113k | €52k | €95k | ▲ 81.3% |
| Trade debts44 | €52k | - | - | €6k | €16k | ▲ 187% |
| Suppliers440/4 | €52k | - | - | €6k | €16k | ▲ 187% |
| Advances received on contracts in progress46 | €97k | - | - | - | €26k | - |
| Taxes, remuneration and social security45 | €80k | €50k | €13k | €9k | €7k | ▼ 19.6% |
| Taxes450/3 | €41k | €50k | €13k | €9k | €7k | ▼ 19.6% |
| Remuneration and social security454/9 | €39k | €22 | - | - | - | - |
| Other amounts payable47/48 | €2k | €10k | €100k | €38k | €46k | ▲ 20.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30k | €6k | €-110k | €-102k | €-11k | ▲ 89.2% |
| + Depreciation and write-downs630 | €1k | €2k | €2k | €2k | €1k | ▼ 46.7% |
| Operating cash flow (approximation) | €31k | €8k | €-108k | €-100k | €-10k | ▲ 90.0% |
| Investment in fixed assets (approximation) | - | €-5k | €-1k | €0 | €0 | - |
| Change in cash | - | €-54k | €-28k | €-587 | €5k | ▲ 878% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
31-12
Financial
Weakest financial yearnet €-110k
Net result drops to €-110k, the lowest in the series; recovery starts the following year.
24-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 85 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 4.49
Current ratio from 1.89 to 4.49; short-term debt falls from €230k to €60k.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
15-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 107 days late
2020
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 34 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Sint-Pieters-Woluwe · 1 establishment unit since 2018
Ground area
4,853 m²
Building footprint
869 m²
Volume, LiDAR
10,487 m³
2 parcels, Brussels · tallest building 20.5 m, ±6 floors. Linked by address, not a title deed.
95
companies at this address
See who is registered here
1 establishment unit
Floréallaan 156, 1180 Ukkel
since 20182.277.734.501
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0142/00A004 | Brussels | 4,483 m² | 1 · 617 m² | 18.7 m · 3 fl. |
| 21016B0215/00Y002 | Brussels | 370 m² | 1 · 252 m² | 20.5 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 38,388 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-04-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.