Checked.be
Active
BE 0480.063.985Private limited company (pre-2019)
SEB BUILDING
Heidelbergstraat 26 ·8210 Zedelgem, Belgium· 23 yrs active
Sector: Buying and selling of own real estate
(68110)
Conclusion
SEB BUILDING has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143k and a net result of €129k. Equity is shrinking by ~21.7% per year across the filed fiscal years. Its solvency ranks better than 32% of 8862 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €143k |
| Net result | €129k |
| Better than sector | 32% |
| Active | 23 yrs |
Financial profile
69
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
48
Profitability
100
Solvency
20
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2003, 23 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
48
/ 100
Fair
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€7k
estimate, not credit advice
Score history
10
2022
7
2023
25
2024
48
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.98 (< 1.0)
-10
Leverage
Debt/equity 6.27 (> 3.0)
-10
Profitability
ROE 91% (≥ 10%)
+10
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 26-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~21.7%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 13.8% | 31.5% | |
| Net result | €129k | €11k | |
| Equity | €143k | €331k | |
| Gross operating margin | €102k | €93k | |
| Employees (FTE) | 0.0 | 0.0 |
€-29k
-172.7%
22-25
€129k
-
22-25
€-39k
-47.4%
22-25
€1.04M
+9.7%
22-25
€143k
+979.1%
22-25
€-19k
+82.5%
22-25
0
-
22-25
€0
-100.0%
22-25
€894k
+0.3%
22-25
€894k
+0.3%
22-25
0.98
+11.7%
22-25
0.98
+11.7%
22-25
13.8%
+883.6%
22-25
6.27
-90.7%
22-25
90.7%
-
22-25
12.5%
-
22-25
-2.95
-345.3%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | - | - | €-29k | €-11k |
| Net profit | €129k | €-26k | €-39k | €-27k |
| Cash flow | - | - | €-39k | €-26k |
| Staff costs | - | - | - | - |
| Income taxes | €0 | €1k | €503 | - |
| Dividends | - | - | - | - |
| Total assets | €1.04M | €945k | €891k | €899k |
| Equity | €143k | €13k | €39k | €78k |
| Debt | €894k | €891k | €812k | €780k |
| of which ≤ 1y | €894k | €891k | €812k | €780k |
| of which > 1y | - | - | - | - |
| Working capital | €-19k | €-111k | €-85k | €-46k |
| Employees (FTE) | 0.0 | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 0.98 | 0.88 | 0.90 | 0.94 |
| Quick ratio | 0.98 | 0.88 | 0.90 | 0.94 |
| Working capital ratio | -1.9% | -11.7% | -9.5% | -5.1% |
| Solvency | 13.8% | 1.4% | 4.4% | 8.7% |
| Debt / equity | 6.27 | 67.48 | 20.70 | 9.99 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | - | - | -2.95 | -0.66 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 12.5% | -2.8% | -4.4% | -3.0% |
| ROE | 90.7% | -196.8% | -99.3% | -34.3% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €1.04M | €945k | €891k | €899k |
| Fixed assets | 21/28 | €162k | €164k | €164k | €164k |
| Tangible fixed assets | 22/27 | - | - | - | €0 |
| Financial fixed assets | 28 | €162k | €164k | €164k | €164k |
| Current assets | 29/58 | €874k | €781k | €727k | €735k |
| Amounts receivable within one year | 40/41 | €872k | €777k | €716k | €725k |
| Cash & bank | 54/58 | €2k | €4k | €11k | €10k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.04M | €945k | €891k | €899k |
| Equity | 10/15 | €143k | €13k | €39k | €78k |
| Contributions / capital | 10/11 | €169k | €169k | €169k | €169k |
| Reserves | 13 | €17k | €17k | €17k | €17k |
| Accumulated profits (losses) | 14 | €-43k | €-172k | €-146k | €-107k |
| Provisions & deferred taxes | 16 | €0 | €40k | €40k | €40k |
| Amounts payable | 17/49 | €894k | €891k | €812k | €780k |
| Amounts payable within one year | 42/48 | €894k | €891k | €812k | €780k |
| Trade debts payable within one year | 44 | €386 | €378 | €20k | €5k |
| Income statement | |||||
| Gross operating margin | 9900 | €102k | €-13k | €-27k | €-9k |
| Operating result | 9901 | €139k | €-15k | €-29k | €-11k |
| Financial charges | 65 | €10k | €10k | €10k | €16k |
| Result before taxes | 9903 | €129k | €-25k | €-38k | €-27k |
| Income taxes | 67/77 | €0 | €1k | €503 | - |
| Net result for the period | 9904 | €129k | €-26k | €-39k | €-27k |
| Result to be appropriated | 9905 | €129k | €-26k | €-39k | €-27k |
Legal Structure
| NACE primary | Buying and selling of own real estate(68110) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 22-04-2003 |
| Status | Active |
| Postal code | 8210 |
Establishment units
Heidelbergstraat 26 A, 8210 Zedelgem
since 20032.131.917.270
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31017A0468/00F000 | Flanders | 4,099 m² | - | - |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Back to profitnet €129k
Net result €129k after 3 loss-making years.
31-12
Financial
Equity above €100kEq €143k ▲979%
Equity rises from €13k to €143k.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-39k
Net result drops to €-39k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
16-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 77 days late
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
45211Buying and selling of own real estate68110General construction of residential buildings41001Development of non-residential building projects68122Civil engineering429904521270113
Names & trade names
| Legal nameNL | SEB BUILDING |
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