Sedar
ActiveSummary
Sedar has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €93,940 and a net result of €15,270. Equity has been shrinking by about 12% per year since 2018. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active Normal situation
- Registered office
- 14 active companies are registered at this address Source: KBO register, as of 2 November 2026.
- Activity
- “La société a pour objet toutes opérations financières, industrielles, ou commerciales concernant le marché…” (deed in French)From the articles, 4 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.000.199.584 1050 Elsene, since 01-01-1965
- Financial year end
- 31 December
- Peppol
- Reachable
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €28,861
- ▲ 55.5%
- Turnover
- ≈ €100,000
- estimated
- Profit
- €15,270
- Equity
- €93,940
- ▲ 5.9%
- Total assets
- €117,336
- ▲ 5.4%
Score breakdownraises risk1 change of registered office in 24 monthslowers riskSize: total assets €117,336Founded in 1968Figures for financial year 2025 (filed on 23-07-2026)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 (no NACE code, micro). It does better than 81% of them on solvency, 57% on liquidity, 68% on profitability and 62% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average on the deadline day. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 47 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a profit of €15,702, after a loss of €2,555 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €26,500 | €3,180 | - | - | €2,388 |
| Financial fixed assets | - | - | €3,300 | - | - |
| Depreciation and write-downs of the year | €11,884 | €1,866 | €4,028 | €3,901 | €3,883 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,854 | €14,855 | €11,418 | €11,884 | €1,866 | €4,028 | €3,901 | €3,883 | ▼ 0.4% |
| Other operating charges640/8 | - | - | - | €7,470 | €8,292 | €8,508 | €17,211 | €9,275 | ▼ 46.1% |
| Gross operating margin9900 | €17,461 | €16,211 | €26,614 | €7,110 | €22,692 | €30,386 | €18,557 | €28,861 | ▲ 55.5% |
| Operating profit (loss)9901 | -€4,347 | -€5,222 | €8,102 | -€12,244 | €12,535 | €17,850 | -€2,555 | €15,702 | - |
| Financial income75/76B | - | - | - | €11 | - | - | €22 | €25 | ▲ 16.2% |
| Recurring financial income75 | €0 | €12 | €12 | €11 | - | - | €22 | €25 | ▲ 16.2% |
| Financial charges65/66B | - | - | - | €269 | €297 | €417 | €421 | €457 | ▲ 8.4% |
| Recurring financial charges65 | €412 | €242 | €64 | €269 | €297 | €417 | €421 | €457 | ▲ 8.4% |
| Profit (loss) for the period before taxes9903 | -€4,759 | -€5,452 | €8,049 | -€12,502 | €12,237 | €17,432 | -€2,954 | €15,271 | - |
| Income taxes67/77 | €0 | €2 | €2 | - | - | - | €1 | €1 | ▼ 24.0% |
| Profit (loss) for the period9904 | -€4,759 | -€5,454 | €8,048 | -€12,502 | €12,237 | €17,432 | -€2,955 | €15,270 | - |
| Profit (loss) for the period to be appropriated9905 | -€4,759 | -€5,454 | €8,048 | -€12,502 | €12,237 | €17,432 | -€2,955 | €15,270 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €201,886 | €196,455 | €203,021 | €195,571 | €120,527 | €131,981 | €111,325 | €117,336 | ▲ 5.4% |
| Fixed assets21/28 | €170,047 | €155,192 | €143,774 | €158,390 | €70,760 | €70,031 | €62,830 | €61,335 | ▼ 2.4% |
| Tangible fixed assets22/27 | €170,047 | €155,192 | €143,774 | €158,390 | €70,760 | €66,731 | €62,830 | €61,335 | ▼ 2.4% |
| Land and buildings22 | - | - | - | €158,390 | €70,760 | €66,731 | €62,830 | €59,324 | ▼ 5.6% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | - | €2,011 | - |
| Financial fixed assets28 | - | - | - | - | - | €3,300 | - | - | - |
| Current assets29/58 | €31,839 | €41,263 | €59,247 | €37,182 | €49,767 | €61,950 | €48,494 | €56,000 | ▲ 15.5% |
| Amounts receivable within one year40/41 | - | - | - | - | - | €38,000 | €44,325 | €33,502 | ▼ 24.4% |
| Trade receivables40 | - | - | - | - | - | - | €9,323 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €38,000 | €35,002 | €33,502 | ▼ 4.3% |
| Current investments50/53 | €10,604 | €10,612 | €25,615 | €25,611 | €45,000 | €23,214 | - | €10,347 | - |
| Cash at bank and in hand54/58 | €19,738 | €29,107 | €32,033 | €9,914 | €3,198 | €735 | €4,169 | €12,152 | ▲ 191% |
| Deferred charges and accrued income490/1 | - | - | - | €1,658 | €1,569 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €201,886 | €196,455 | €203,021 | €195,571 | €120,527 | €131,981 | €111,325 | €117,336 | ▲ 5.4% |
| Equity10/15 | €190,808 | €185,354 | €193,402 | €180,900 | €94,193 | €101,625 | €88,670 | €93,940 | ▲ 5.9% |
| Contributions10/11 | €100,397 | €100,397 | €100,397 | €100,397 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | - | €100,397 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | - | €100,397 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €90,411 | €84,957 | €93,005 | €80,503 | €32,693 | €40,125 | €27,170 | €32,440 | ▲ 19.4% |
| Non-distributable reserves130/1 | - | - | - | €10,040 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | - | - | €10,040 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | - | - | - | €70,463 | €26,543 | €33,975 | €21,020 | €26,290 | ▲ 25.1% |
| Amounts payable17/49 | €11,078 | €11,101 | €9,620 | €14,672 | €26,334 | €30,356 | €22,655 | €23,396 | ▲ 3.3% |
| Amounts payable after more than one year17 | €2,850 | €2,850 | €2,850 | €6,740 | €6,740 | €6,740 | €6,740 | €6,740 | = |
| Other amounts payable178/9 | - | - | - | €6,740 | €6,740 | €6,740 | €6,740 | €6,740 | = |
| Amounts payable within one year42/48 | €8,228 | €8,251 | €6,770 | €6,967 | €18,538 | €23,616 | €15,915 | €16,656 | ▲ 4.7% |
| Financial debts43 | - | - | - | €27 | €34 | €36 | €36 | €41 | ▲ 11.6% |
| Credit institutions430/8 | - | - | - | €27 | €34 | €36 | €36 | €41 | ▲ 11.6% |
| Trade debts44 | €8,035 | €8,048 | €6,754 | €6,939 | €8,505 | €13,579 | €5,879 | €6,615 | ▲ 12.5% |
| Suppliers440/4 | - | - | - | €6,939 | €8,505 | €13,579 | €5,879 | €6,615 | ▲ 12.5% |
| Other amounts payable47/48 | - | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | €965 | €1,056 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,759 | -€5,454 | €8,048 | -€12,502 | €12,237 | €17,432 | -€2,955 | €15,270 | - |
| + Depreciation and write-downs630 | €14,854 | €14,855 | €11,418 | €11,884 | €1,866 | €4,028 | €3,901 | €3,883 | ▼ 0.4% |
| Operating cash flow (approximation) | €10,096 | €9,400 | €19,466 | -€618 | €14,103 | €21,461 | €945 | €19,153 | ▲ 20× |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€26,500 | €85,764 | -€3,300 | €3,300 | -€2,388 | - |
| Change in cash | - | €9,369 | €2,927 | -€22,120 | -€6,715 | -€2,463 | €3,434 | €7,983 | ▲ 132% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as Sedar has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Sedar itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for Sedar. 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.
Latest 10 of 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 23-07-2026 | 2026-00338466 | |
| 31-12-2024 | full format | 17-05-2025 | 2025-00098229 | |
| 31-12-2023 | full format | 22-07-2024 | 2024-00268100 | |
| 31-12-2022 | full format | 05-07-2023 | 2023-00219435 | |
| 31-12-2021 | full format | 08-08-2022 | 2022-20274658 | |
| 31-12-2020 | full format | 16-07-2021 | 2021-35900011 | |
| 31-12-2019 | full format | 30-11-2020 | 2020-72500494 | |
| 31-12-2018 | full format | 27-08-2019 | 2019-50800454 | |
| 31-12-2017 | full format | 17-07-2018 | 2018-33300513 | |
| 31-12-2016 | full format | 04-07-2017 | 2017-25700175 |
Board & ownership
Directors
Owners and capital
Shareholders
- Edouard-Vincent Draps 4,050 shares
Capital transactions
- 16-08-2022 Capital increase of €7,466.13 · to €110,863.01 · from reserves
- 16-08-2022 Capital reduction of €49,363.01 · to €61,500
- 21-06-2022 Capital stated in the deed · €100,396.88 · 4,050 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, administrateur unique”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Tous pouvoirs prévus par Code des sociétés et des associations, assemblée générale peut limiter à tout moment à majorité simple”
Articles of association, deed of 16-08-2022 (in French)
Network & group
Acquisitions and mergers
1 transactionCompanies at the same address
13 other companies- GOODWOODS Registered office · since 2025 1026650572
- T&T 90 Registered office · since 2024 1008580561
- DARWIN IMPACT Registered office · since 2022 0791771705
- FONCIERE DE LA SABLIERE Registered office · since 2022 0789338389
- EDMOND T Registered office · since 2022 0786698011
- MELPOMENE Registered office · since 2022 0786697813
- IMPACT PROPERTIES Registered office · since 2021 0763648732
- EAST SIDE Registered office · since 2015 0633964284
- ALTER IMMO Registered office · since 2013 0849670906
- ARCHEX Registered office · since 2012 0844502586
Connections & network
1 current directorThe network starts from the directors of Sedar. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
18-12
Gazette deed
Registered office moved from Woluwé-Saint-Pierre to IxellesDirector in office3 points ▸
- Board meeting, 25-11-2025
- Registered-office move, Rue Américaine 215 boite 8 à 1050 Ixelles
- Director in office, Draps Edouard (sole director)
17-07
Gazette deed
Reappointment: Draps Edouard-Vincent (director)2 points ▸
- General meeting, 19-05-2023
- Director reappointment, Draps Edouard-Vincent (director)
10-03
Gazette deed
Registered office moved from Laeken to BruxellesDirector in office3 points ▸
- Board meeting, 05-01-2023
- Registered-office move, Avenue Général de Longueville 1 - bte 4 à 1150 Bruxelles (Woluwé-Saint-Pierre)
- Director in office, DRAPS Edouard-Vincent (sole director)
16-08
Gazette deed
Demerger: SEDAR splits off to FONCIERE DE LA SABLIERECapital increase · Capital · Accounting effect21 points ▸
- General meeting, 29-07-2022
- Capital increase, €7,466.13
- Capital, €110,863.01
- Other provision, “actualisation informations scission, absence de modification importante du patrimoine depuis établissement projet de scission partielle” (deed in French)
- Demerger, “scission partielle sans dissolution par constitution société nouvelle, Pas de dettes” (deed in French)
- Accounting effect, 01-01-2022
- Other provision, “absence avantage particulier organes administration, aucun avantage particulier attribué aux membres organes administration sociétés participant à la scission” (deed in French)
- Other provision, “ensemble des charges, frais, honoraires, impôts et taxes liés à la scission partielle, prise en charge des frais de la scission partielle” (deed in French)
- Real estate, “bien soumis à publicité particulière, parcelle de terrain avec constructions inachevées” (deed in French)
- Other provision, “absence de déclaration et garantie de la société scindée, celles expressément prévues dans l'acte et ses annexes” (deed in French)
- Other provision, “appartenance et jouissance du Patrimoine Transféré, Patrimoine Transféré fait à la date de ce jour partie de son patrimoine” (deed in French)
- Share issue, 100, 4050
- The act holds 9 more points.
Show earlier events
21-06
Gazette deed
Demerger proposal: Sedar splits off to Foncière de la SablièreName clause · Registered office clause · Capital17 points ▸
- Demerger, “scission partielle par constitution d'une nouvelle société, annexe 1 du projet de scission déposé” (deed in French)
- Name clause, Foncière de la Sablière
- Registered office clause, 1, “Avenue Général de Longueville, bte 4 à 1150 Bruxelles” (deed in French)
- Capital, €88,944.47
- Edouard-Vincent Draps holds 100 shares
- Incorporation, 09-01-1965
- Legal-form conversion, “société anonyme” (deed in French)
- Amendment of the articles, mentioned 2 times in the deed
- Capital, €100,396.88
- Capital decrease, €51,033.87
- Capital increase
- Accounting effect, 01-01-2022
- The act holds 5 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
2 former offices
- 1150 Woluwé-Saint-Pierre until 25-11-2025 · act of 18-12-2025
- 1020 Laeken until 05-01-2023 · act of 10-03-2023
Activities
4 activities
- La société a pour objet toutes opérations financières, industrielles, ou commerciales concernant le marché immobilier, y compris la mise en valeur, le lotissement et la gérance de tous les biens de nature immobilière.
- Elle peut exercer son activité pour compte propre ou pour compte de tiers, et réaliser toutes opérations quelconques se rattachant directement ou indirectement à son objet ou à des domaines connexes, ou de nature à en favoriser la réalisation.
- La société peut accomplir, en Belgique ou à l'étranger, toutes les opérations généralement quelconques, commerciales, industrielles, financières, mobilières, ou immobílières se rapportant directement ou indirectement à son objet.
- Elle peut s'intéresser par toutes voies dans toutes entreprises ou scciétés ayant un objet analogue au sien ou qui soit de nature à favoriser son développement ou constituant pour elle une source ou un débouché.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21447B0266/00X011 | Brussels | 437 m² | 1 · 186 m² | 24.4 m · 7 |