SECOFORM
ActiveSummary
The annual accounts of SECOFORM for fiscal year 2025 show a net loss of 93% of the equity at the start of that year. The 2025 annual accounts show equity of €381 and a net result of €-5k. Equity is shrinking by ~24% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 14% of 709 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
41
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability31▼-3
Solvency25▼-1
Growth28▼-13
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.02 against 0.03 in 2024; short-term debt: 35.9% and cash: 0.5% of total assets), and 99.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 · 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
0.1%
Return on assets
-1.2%
Age of the figures
9 mo
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 €-5k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 709 sector peers (2025).
NBB · sector comparisonPosition among 709 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-08-2026, 12 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
12 d late
2024
8 d early
2023
29 d early
2022
21 d early
2021
31 d early
2020
8 d early
2019
28 d early
← 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
Financials · fiscal year 2025, full schema
Turnover
€34k▼ 42.5%
2020 · €59k
2019: €37k
2020: €59k
2019 → 2021
EBIT margin
-15.6%▼ 47.4pp
2020 · 31.7%
2019: -11.0%
2020: 31.7%
2019 → 2021
Net result
€-5k▲ 24.0%
2024 · €-6k
2019: €-4k
2020: €17k
2021: €-5k
2022: €-744
2023: €-1k
2024: €-6k
2019 → 2025
Working capital
€-141k▼ 5.7%
2024 · €-133k
2019: €2k
2020: €19k
2021: €13k
2022: €11k
2023: €11k
2024: €-133k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€34k-
Equity€14k-€13k▼ 5.5%€12k▼ 9.6%€5k▼ 55.0%€381▼ 92.7%
Operating result€-5k-€-1k▲ 78.9%€-362▲ 67.4%€-6k▼ 1,660%€6k
Net result€-5k-€-744▲ 86.2%€-1k▼ 65.9%€-6k▼ 417%€-5k▲ 24.0%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6k after a loss of €6k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €401k
Fixed assets
€398k ▼ 3.0%
Current assets
€3k ▼ 36.3%
Equity and liabilities €401k
Equity
€381 ▼ 92.7%
Debt
€400k ▼ 2.2%
Debt's share of the balance-sheet total rises from 98.7% to 99.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€18k
Cash flow
€7k
Current ratio
0.02▼
2024 · 0.03
ROA
-1.2%▲
2024 · -1.5%
Interest coverage
1.71
Debt ≤ 1 year
€144k▲
2024 · €138k
Debt > 1 year
€257k▼
2024 · €272k
Equity ratios withheld: equity of €381 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€415k€401k▼
Fixed assets21/28€410k€398k▼
Tangible fixed assets22/27€410k€398k▼
Land and buildings22€410k€398k▼
Current assets29/58€5k€3k▼
Amounts receivable within one year40/41€2k€1k▼
Other amounts receivable41€2k€1k▼
Cash at bank and in hand54/58€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€415k€401k▼
Equity10/15€5k€381▼
Contributions10/11€6k€6k=
Capital10€6k€6k=
Issued capital100€19k€19k=
Uncalled capital101€12k€12k=
Reserves13€852€852=
Non-distributable reserves130/1€852€852=
Legal reserve130€852€852=
Profit (loss) carried forward14€-2k€-7k▼
Amounts payable17/49€409k€400k▼
Amounts payable after more than one year17€272k€257k▼
Financial debts170/4€272k€257k▼
Amounts payable within one year42/48€138k€144k▲
Current portion of amounts payable after more than one year42€13k€15k▲
Other amounts payable47/48€124k€129k▲
Income statement
Code20242025
Non-recurring operating income76A€500-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€12k
Other operating charges640/8€11€2k▲
Non-recurring operating charges66A€394-
Gross operating margin9900€-6k€20k▲
Operating profit (loss)9901€-6k€6k▲
Financial charges65/66B€6€11k▲
Recurring financial charges65€6€11k▲
Profit (loss) for the period before taxes9903€-6k€-5k▲
Profit (loss) for the period9904€-6k€-5k▲
Profit (loss) for the period to be appropriated9905€-6k€-5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2k€-7k▼
Profit (loss) brought forward from the previous period14P€5k€-2k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 12 days late
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity doublescurrent ratio 5.96
Current ratio from 2.81 to 5.96; short-term debt falls from €6k to €2k.
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 5.28
Current ratio from 1.99 to 5.28.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
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, Frasnes-lez-Anvaing · 1 establishment unit since 2025
Ground area
820 m²
Building footprint
150 m²
Volume, LiDAR
692 m³
Parcel 51001C0108/00D000, Wallonia · tallest building 5.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SECOFORM
since 20252.372.461.929
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51001C0108/00D000 | Wallonia | 819 m² | 1 · 150 m² | 5.9 m · 2 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
BROWNIES DEV
BE 0798.479.452
Liège · Eq €384
GEKCO'S RECLAME & BELETTERING
BE 0894.359.596
Ranst · Eq €375
INDIGO STUDIO
BE 0759.692.419
Brussel · Eq €399
WHITE RABBIT INTEGRATED COMMUNICATION
BE 0659.751.339
Brussel · Eq €360
SYNAPS for business
BE 0794.742.972
Hasselt · Eq €358
Of 9,862 companies in sector 73110 we hold annual accounts for 3,753. 230 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
46190Agents in non-specialised wholesale trade
73300Public relations and communication consultancy
81300Landscape service activities
82100Office administrative and support services
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.