Equity
Equity fell by 49% in 1 year.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 43, micro). It does better than 72% of them on solvency, 24% on liquidity, 50% on profitability and 9% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% 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).
In July 2024, 26,972 companies had the same profile as SEB Construct has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SEB Construct itself is higher: 7.3% within 12 months. It rests on far more data about SEB Construct than the profile alone.
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 26,972 companies, not a prediction for SEB Construct. 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.
Liquidity is ample, with a current ratio of 2.67 (2.45 in 2023), above the usual 1.5. Short-term debt is 33.9% and cash 0.7% of total assets. 33.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 164 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SEB Construct Braine-le-Comte | €146,781 | €56,622 | 66.1% | - |
| L.A.Z. RAYONNAGES Charleroi | €169,116 | €55,422 | 74.5% | - |
| A.S. Reno-Construct Beersel | €159,927 | €57,603 | 51.9% | - |
| ARN COMPANY Anderlecht | €130,772 | €51,572 | 71.4% | - |
| KALISTO GLOBAL Jette | €137,986 | €54,771 | 47.2% | - |
| ACUAS Molenbeek-Saint-Jean | €167,097 | €53,805 | 14.0% | - |
| STV Pool Projects Opwijk | €123,259 | €58,143 | 39.4% | - |
These companies have the same main activity as SEB Construct: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €123,000 and €169,000, founded between 2016 and 2018.
SEB Construct files the micro format. That format states no turnover. The gross margin fell from €136,804 in 2018 to €56,622 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 10 November 2026.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €290,000. Estimated: probably between €220,000 and €590,000.
Higher than 72% of 35,956 companies in 2024.
Higher than 67% of 35,354 companies in 2024.
Higher than 47% of 35,538 companies in 2024.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2024, 1 person joined and nobody left. Training hours in 2024: 304.
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
146,781 | 299,465 | 268,782 | 112,579 | 80,578 | 105,149 | 96,688 | |
20 |
- | - | - | 0 | - | - | - | |
21/28 |
14,169 | 28,802 | 5,124 | 7,932 | 14,132 | 16,354 | 21,065 | |
21 |
- | - | 0 | 0 | - | - | - | |
22/27 |
14,009 | 28,642 | 4,964 | 7,772 | 13,972 | 16,194 | 20,905 | |
23 |
8,437 | 17,403 | 1,658 | - | - | - | - | |
24 |
5,573 | 11,238 | 3,306 | 7,772 | 13,972 | 16,194 | 20,905 | |
28 |
160 | 160 | 160 | 160 | 160 | 160 | 160 | |
29/58 |
132,612 | 270,663 | 263,658 | 104,648 | 66,446 | 88,795 | 75,623 | |
29 |
70,000 | - | - | - | - | - | - | |
291 |
70,000 | - | - | - | - | - | - | |
40/41 |
61,652 | 270,470 | 263,524 | 100,853 | 31,524 | 38,772 | 41,480 | |
40 |
55,947 | 222,684 | 183,752 | 3,713 | 1,333 | 16,886 | 23,939 | |
41 |
5,704 | 47,785 | 79,773 | 97,140 | 30,191 | 21,886 | 17,541 | |
54/58 |
960 | - | 42 | 3,794 | 34,648 | 49,524 | 33,251 | |
490/1 |
- | 193 | 92 | - | 274 | 499 | 892 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
146,781 | 299,465 | 268,782 | 112,579 | 80,578 | 105,149 | 96,688 | |
10/15 |
97,070 | 188,895 | 150,304 | 89,756 | 50,941 | 39,794 | 31,156 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | 12,400 | 12,400 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,248 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | |
130 |
- | - | - | - | 1,860 | 1,860 | 1,248 | |
1311 |
1,860 | 1,860 | - | - | - | - | - | |
1319 |
- | - | 1,860 | 1,860 | - | - | - | |
14 |
89,010 | 180,835 | 142,244 | 81,696 | 42,881 | 31,734 | 23,708 | |
17/49 |
49,711 | 110,570 | 118,478 | 22,824 | 29,637 | 65,355 | 65,532 | |
17 |
- | - | - | 0 | 2,065 | 5,038 | 8,011 | |
170/4 |
- | - | - | 0 | 2,065 | 5,038 | 8,011 | |
42/48 |
49,711 | 110,570 | 118,478 | 22,824 | 27,169 | 60,233 | 57,419 | |
42 |
- | 9,134 | 9,134 | 2,065 | 2,973 | 2,972 | 2,972 | |
43 |
1,470 | 3 | - | 7,719 | - | 2,779 | 1,771 | |
430/8 |
1,470 | 3 | - | 7,719 | - | 2,779 | 1,771 | |
44 |
6,285 | 42,841 | 80,083 | 3,890 | 18,259 | 42,671 | 25,183 | |
440/4 |
6,285 | 42,841 | 80,083 | 3,890 | 18,259 | 42,671 | 25,183 | |
45 |
41,956 | 58,592 | 29,261 | 9,149 | 5,937 | 11,811 | 14,373 | |
450/3 |
37,877 | 57,797 | 22,291 | 2,677 | 4,982 | 9,694 | 9,294 | |
454/9 |
4,079 | 795 | 6,970 | 6,472 | 955 | 2,117 | 5,079 | |
47/48 |
- | - | - | - | - | - | 13,120 | |
492/3 |
- | - | - | - | 403 | 84 | 102 | |
| Income statement | ||||||||
9900 |
56,622 | 96,979 | 98,876 | 52,445 | 33,292 | 57,594 | 136,804 | |
62 |
22,384 | 40,986 | 8,819 | 10,089 | 14,716 | 34,413 | 82,199 | |
630 |
9,578 | - | 5,295 | 5,700 | 6,036 | 6,545 | 9,976 | |
640/8 |
5,307 | 1,588 | 1,303 | 303 | 465 | 335 | 573 | |
66A |
5,054 | - | - | 500 | - | 3,687 | - | |
9901 |
14,299 | 54,405 | 83,459 | 35,853 | 12,075 | 12,614 | 44,056 | |
75/76B |
26 | - | - | 3,594 | 2,132 | 1,050 | 1,264 | |
75 |
26 | - | - | 3,594 | 2,132 | 1,050 | 1,264 | |
65/66B |
305 | 683 | 1,026 | 633 | 788 | 623 | 700 | |
65 |
305 | 683 | 1,026 | 633 | 788 | 623 | 700 | |
9903 |
14,020 | 53,723 | 82,433 | 38,814 | 13,419 | 13,041 | 44,620 | |
67/77 |
5,844 | 15,131 | 21,885 | - | 2,272 | 4,403 | 6,064 | |
9904 |
8,176 | 38,591 | 60,548 | 38,814 | 11,147 | 8,638 | 38,556 | |
9905 |
8,176 | 38,591 | 60,548 | 38,814 | 11,147 | 8,638 | 38,556 | |
| Appropriation of the result | ||||||||
9906 |
89,010 | 180,835 | 142,244 | 81,696 | 42,881 | 32,346 | 38,556 | |
14P |
80,835 | 142,244 | 81,696 | 42,881 | - | - | - | |
691/2 |
- | - | - | - | - | 612 | 1,248 | |
6920 |
- | - | - | - | - | 612 | 1,248 | |
694/7 |
- | - | - | - | - | - | 13,600 | |
694 |
- | - | - | - | - | - | 1,600 | |
695 |
- | - | - | - | - | - | 12,000 | |
| Social balance sheet | ||||||||
9087 |
1.8 | - | 1 | - | 1 | 1 | 1 | |
Hours worked1013 |
744 | - | 144 | - | 488 | 1,328 | 3,360 | |
| Document | ||||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 08-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 08-04-2026 | 2026-00075121 | |
| 31-12-2023 | micro format | 27-11-2024 | 2024-00605058 | |
| 31-12-2022 | micro format | 08-02-2024 | 2024-00028026 | |
| 31-12-2021 | micro format | 30-03-2023 | 2023-00052525 | |
| 31-12-2020 | micro format | 28-10-2021 | 2021-73700217 | |
| 31-12-2019 | micro format | 31-10-2020 | 2020-66200462 | |
| 31-12-2018 | micro format | 01-08-2019 | 2019-41800270 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| 23,877 | - | 88,754 | 41,553 | 18,111 | 19,159 | 54,032 | ||
| 17,753 | - | 65,843 | 44,514 | 17,183 | 15,183 | 48,532 | ||
| 7,933 | - | 2,487 | -500 | 3,814 | 6,021 | 29,300 | ||
| - | - | -3,753 | -30,854 | -14,876 | 16,273 | - | ||
| 82,901 | 160,093 | 145,180 | 81,824 | 39,277 | 28,562 | 18,204 | ||
| 66.1% | 63.1% | 55.9% | 79.7% | 63.2% | 37.8% | 32.2% | ||
| 2.67 | 2.45 | 2.23 | 4.59 | 2.45 | 1.47 | 1.32 | ||
| 0.51 | 0.59 | 0.79 | 0.25 | 0.58 | 1.64 | 2.10 | ||
| 8.4% | 20.4% | 40.3% | 43.2% | 21.9% | 21.7% | 123.8% | ||
| 5.6% | 12.9% | 22.5% | 34.5% | 13.8% | 8.2% | 39.9% | ||
| 78.27 | - | 86.51 | 65.65 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 1 |
| full-time | 2 | 1 |
| in full-time equivalents | 2 | 1 |
| 1.8 | 1 | |
| On a permanent contract | 1 | 1 |
| Joined | 1 | - |
| Left | 0 | - |
| Training hours | 304 | - |
Source: social balance sheet in the 2022 to 2024 annual accounts
| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €7,933 | - | €2,487 | - |
| €9,578 | - | €5,295 | €5,700 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is 74% lower than in 2023 and the lowest since 2020. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 36.9% to 33.9%. Equity and debt are lower.
SEB Construct has no parent and no holdings in its annual accounts. FOROTTI, Sebastiano Elio Bruno is the only director. SEB Construct shares no director with another company.
| ELNAT
registered office since 01-01-2008 · founded in 2007 · accounts filed late |
total assets €420,525 (2024) 0892.250.144 |
| So High Elegance
registered office since 14-07-2021 · founded in 2021 · accounts filed late |
total assets €1,000 (2024) 0771.409.128 |
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Drève des Bouleaux 8 registered office 7090 Braine-le-Comte 2521013 Manufacture of fabricated metal products, except machinery and equipment | 23-05-2017 | 2.264.867.153 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 55302C0457/00V000 | 1,717 m² | 1 · 176 m² | 10.2 m · 3 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0675.947.864
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