SEIFAR
ActiveSummary
SEIFAR has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €248,043 and a net result of -€237,286. Equity is shrinking by ~34.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 25% of 114 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency42▼-18
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.59 against 0.84 in 2024; short-term debt: 76.3% and cash: 3.1% of total assets), and 82.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 20
Relative position
BE, all sectors
reference
Manufacture of chemicals and chemical products (NACE 20)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
212122232425
2021 to 2025 · latest year -€237,286
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 114 sector peers (2025).
NBB · sector comparisonPosition among 114 sector peers
Solvency
better than 25%
← weakest
strongest →
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 · 6 filingsDeviation from the deadline
2025
25 d early
2024
4 d late
2023
29 d early
2022
27 d early
2021
32 d early
2021
16 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% of the sector filed late.
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. Usually files around 4 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€248,043▼ 48.9%
2024 · €485,330
Total assets
€1.4m▲ 3.5%
2024 · €1.4m
Net result
-€237,286▲ 9.8%
2024 · -€263,192
Working capital
-€449,526▼ 206%
2024 · -€146,714
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 20, Manufacture of chemicals and chemical products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€161,694--€329,896▼ 104%€23,405-€226,901-€221,454▲ 2.4%
Net result-€176,254below the sector's middle half--€374,945below the sector's middle half▼ 113%€1,946within the sector's middle half-€263,192below the sector's middle half-€237,286below the sector's middle half▲ 9.8%
Equity€1.1mabove the sector's middle half-€746,575within the sector's middle half▼ 33.4%€748,522within the sector's middle half▲ 0.3%€485,330within the sector's middle half▼ 35.2%€248,043within the sector's middle half▼ 48.9%
Total assets€1.9mabove the sector's middle half-€1.9mwithin the sector's middle half▲ 0.7%€1.7mwithin the sector's middle half▼ 13.2%€1.4mwithin the sector's middle half▼ 15.4%€1.4mwithin the sector's middle half▲ 3.5%
Debt€768,557-€1.2m▲ 50.4%€903,374▼ 21.9%€911,919▲ 0.9%€1.2m▲ 31.4%
Working capital€173,364above the sector's middle half--€105,357below the sector's middle half-€32,942below the sector's middle half▲ 68.7%-€146,714below the sector's middle half▼ 345%-€449,526below the sector's middle half▼ 206%
Solvency59.3%within the sector's middle half-39.2%within the sector's middle half▼ 20.1pp45.3%within the sector's middle half▲ 6.1pp34.7%within the sector's middle half▼ 10.6pp17.2%below the sector's middle half▼ 17.6pp
Current ratio1.23within the sector's middle half-0.91below the sector's middle half▼ 0.320.96below the sector's middle half▲ 0.050.84below the sector's middle half▼ 0.120.59below the sector's middle half▼ 0.25
Return on assets (ROA)-9.3%below the sector's middle half--19.7%below the sector's middle half▼ 10.4pp0.1%within the sector's middle half▲ 19.8pp-18.8%below the sector's middle half▼ 19.0pp-16.4%below the sector's middle half▲ 2.4pp
Staff (FTE)7.2-0below the sector's middle half6.9within the sector's middle half8.3within the sector's middle half▲ 20.3%
above
within
below
the middle half (P25 to P75) of NACE 20, Manufacture of chemicals and chemical products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Net result -113% on 2021. The previous fiscal year ran 6 months, this one 12. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €221,454 in 2025 against €226,901 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€792,829 ▲ 25.4%
Current assets
€653,211 ▼ 14.6%
Equity and liabilities €1.4m
Equity
€248,043 ▼ 48.9%
Debt
€1.2m ▲ 31.4%
Debt's share of the balance-sheet total rises from 65.3% to 82.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€128,098▲
2024 · -€146,682
Cash flow
-€143,930▲
2024 · -€182,974
Quick ratio
0.24▼
2024 · 0.46
Debt to equity
4.83▲
2024 · 1.88
ROE
-95.7%▼
2024 · -54.2%
Interest coverage
-1.51▲
2024 · -2.81
Debt ≤ 1 year
€1.1m▲
2024 · €911,919
Staff costs
€560,398▲
2024 · €550,628
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,133 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
6.4%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,133 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €168,871 | €577,297 | €536,216 | €550,628 | €560,398 | ▲ 1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,048 | €108,875 | €111,173 | €80,219 | €93,356 | ▲ 16.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | €2,100 | €27,921 | - | €9,606 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €2,121 | - | - |
| Other operating charges640/8 | €4,473 | €13,285 | €19,832 | €14,471 | €14,446 | ▼ 0.2% |
| Non-recurring operating charges66A | - | €31,464 | €76,295 | €29,120 | €21,914 | ▼ 24.7% |
| Gross operating margin9900 | €65,697 | €403,125 | €794,842 | €449,658 | €478,265 | ▲ 6.4% |
| Operating profit (loss)9901 | -€161,694 | -€329,896 | €23,405 | -€226,901 | -€221,454 | ▲ 2.4% |
| Financial income75/76B | €0 | €0 | €897 | €15,852 | €69,174 | ▲ 336% |
| Recurring financial income75 | €0 | €0 | €897 | €15,852 | €836 | ▼ 94.7% |
| Non-recurring financial income76B | - | - | - | - | €68,338 | - |
| Financial charges65/66B | €14,560 | €45,049 | €22,355 | €52,143 | €85,006 | ▲ 63.0% |
| Recurring financial charges65 | €14,560 | €45,049 | €22,355 | €52,143 | €85,006 | ▲ 63.0% |
| Profit (loss) for the period before taxes9903 | -€176,254 | -€374,945 | €1,946 | -€263,192 | -€237,286 | ▲ 9.8% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€176,254 | -€374,945 | €1,946 | -€263,192 | -€237,286 | ▲ 9.8% |
| Profit (loss) for the period to be appropriated9905 | -€176,254 | -€374,945 | €1,946 | -€263,192 | -€237,286 | ▲ 9.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €1.9m | €1.7m | €1.4m | €1.4m | ▲ 3.5% |
| Fixed assets21/28 | €948,156 | €851,932 | €781,464 | €632,044 | €792,829 | ▲ 25.4% |
| Intangible fixed assets21 | €44,935 | €29,957 | €14,978 | €0 | €29,318 | - |
| Tangible fixed assets22/27 | €884,967 | €811,947 | €756,457 | €622,015 | €753,483 | ▲ 21.1% |
| Land and buildings22 | - | - | - | - | €21,549 | - |
| Plant, machinery and equipment23 | €835,282 | €773,547 | €727,658 | €622,015 | €731,934 | ▲ 17.7% |
| Furniture and vehicles24 | €49,686 | €38,399 | €28,800 | €0 | - | - |
| Financial fixed assets28 | €18,254 | €10,029 | €10,029 | €10,029 | €10,029 | = |
| Current assets29/58 | €941,921 | €1.1m | €870,432 | €765,205 | €653,211 | ▼ 14.6% |
| Stocks and contracts in progress3 | €518,044 | €520,118 | €457,747 | €343,222 | €383,386 | ▲ 11.7% |
| Stocks30/36 | €518,044 | €520,118 | €457,747 | €343,222 | €383,386 | ▲ 11.7% |
| Amounts receivable within one year40/41 | €332,004 | €449,410 | €359,579 | €345,574 | €210,768 | ▼ 39.0% |
| Trade receivables40 | €324,197 | €449,278 | €177,399 | €328,441 | €180,918 | ▼ 44.9% |
| Other amounts receivable41 | €7,808 | €132 | €182,180 | €17,134 | €29,849 | ▲ 74.2% |
| Cash at bank and in hand54/58 | €75,268 | €58,438 | €32,928 | €53,319 | €44,777 | ▼ 16.0% |
| Deferred charges and accrued income490/1 | €16,605 | €22,962 | €20,178 | €23,091 | €14,280 | ▼ 38.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €1.9m | €1.7m | €1.4m | €1.4m | ▲ 3.5% |
| Equity10/15 | €1.1m | €746,575 | €748,522 | €485,330 | €248,043 | ▼ 48.9% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Reserves13 | €871,520 | €496,575 | €498,522 | €235,330 | €235,330 | = |
| Distributable reserves133 | €871,520 | €496,575 | €498,522 | €235,330 | €235,330 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€237,286 | - |
| Amounts payable17/49 | €768,557 | €1.2m | €903,374 | €911,919 | €1.2m | ▲ 31.4% |
| Amounts payable within one year42/48 | €768,557 | €1.2m | €903,374 | €911,919 | €1.1m | ▲ 20.9% |
| Trade debts44 | €549,458 | €570,866 | €399,742 | €377,653 | €105,248 | ▼ 72.1% |
| Suppliers440/4 | €549,458 | €570,866 | €399,742 | €377,653 | €105,248 | ▼ 72.1% |
| Advances received on contracts in progress46 | - | €34,025 | €81,197 | €25,007 | €25,007 | = |
| Taxes, remuneration and social security45 | €36,100 | €65,653 | €27,757 | €29,036 | €83,469 | ▲ 187% |
| Taxes450/3 | €20,517 | €16,201 | €8,257 | €0 | €20,495 | - |
| Remuneration and social security454/9 | €15,582 | €49,452 | €19,500 | €29,036 | €62,973 | ▲ 117% |
| Other amounts payable47/48 | €183,000 | €485,739 | €394,679 | €480,224 | €889,014 | ▲ 85.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €95,260 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€176,254 | -€374,945 | €1,946 | -€263,192 | -€237,286 | ▲ 9.8% |
| + Depreciation and write-downs630 | €54,048 | €108,875 | €111,173 | €80,219 | €93,356 | ▲ 16.4% |
| Operating cash flow (approximation) | -€122,206 | -€266,070 | €113,119 | -€182,974 | -€143,930 | ▲ 21.3% |
| Investment in fixed assets (approximation) | - | -€12,651 | -€40,705 | €69,202 | -€254,141 | ▼ 467% |
| Change in cash | - | -€16,831 | -€25,510 | €20,391 | -€8,542 | ▼ 142% |
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 · abbreviated schema
2025
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €1,946
Net result €1,946 after 2 loss-making years.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€374,945
Net result drops to -€374,945, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
16-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Lokeren · 1 establishment unit since 2020
Ground area
6,923 m²
Building footprint
2,328 m²
Volume, LiDAR
16,258 m³
Parcel 46014A0198/00D000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Clean Solutions Group
since 20202.303.296.771
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0198/00D000 | Flanders | 6,923 m² | 1 · 2,328 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
Highest known parent: Brightco. The sources do not say who stands above it.
Owners 1
- PFS GROUPparentSourceown accounts 2024100%
Holdings 0
The accounts to 31-12-2024 list no holdings, and no other source names one.
According to the 2024 annual accounts of SEIFAR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 455 EUR awarded · 455 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 455 EUR | 455 EUR |
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Of 156 companies in sector 20411 we hold annual accounts for 46. 19 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
Founded03-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
20411Manufacture of chemicals and chemical products
20412Manufacture of chemicals and chemical products
20420Manufacture of chemicals and chemical products
46442Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0747841888
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.