Summary
SELECT HOLDING has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €20.9m and a net result of €2.6m. Equity is growing by ~17.1% per year across the filed fiscal years. Its solvency ranks better than 55% of 934 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 03-07-2026, 28 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
28 d early
2024
29 d early
2023
28 d early
2022
14 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?SEPARCO · 15 companies What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, full schema, statutory accounts
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€3.6m▼ 5.1%
2024 · €3.8m
EBIT margin
17.5%▼ 17.1pp
2024 · 34.6%
Net result
€2.6m▼ 30.5%
2024 · €3.7m
Working capital
-€1.9m▲ 40.7%
2024 · -€3.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, 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
Line2022202320242025
Turnover€3.0m-€3.8m▲ 26.7%€3.8m▲ 1.0%€3.6m▼ 5.1%
Operating result€499,686-€1.5m▲ 203%€1.3m▼ 13.0%€631,276▼ 52.0%
Net result-€641,289below the sector's middle half-€2.0mabove the sector's middle half€3.7mabove the sector's middle half▲ 81.0%€2.6mabove the sector's middle half▼ 30.5%
EBIT margin16.8%-40.1%▲ 23.4pp34.6%▼ 5.6pp17.5%▼ 17.1pp
Equity€12.6mabove the sector's middle half-€14.6mabove the sector's middle half▲ 16.2%€18.3mabove the sector's middle half▲ 25.3%€20.9mabove the sector's middle half▲ 14.0%
Total assets€42.4mabove the sector's middle half-€41.8mabove the sector's middle half▼ 1.3%€41.7mabove the sector's middle half▼ 0.3%€42.5mabove the sector's middle half▲ 2.0%
Debt€29.8m-€27.2m▼ 8.7%€23.4m▼ 14.0%€21.7m▼ 7.4%
Working capital-€4.3m--€4.0m▲ 6.6%-€3.2m▲ 20.8%-€1.9m▲ 40.7%
Solvency29.6%within the sector's middle half-34.9%within the sector's middle half▲ 5.3pp43.9%within the sector's middle half▲ 9.0pp49.0%within the sector's middle half▲ 5.2pp
Staff (FTE)1below the sector's middle half-1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 52% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €42.5m
Fixed assets
€38.9m =
Current assets
€3.6m ▲ 29.8%
Equity and liabilities €42.5m
Equity
€20.9m ▲ 14.0%
Debt
€21.7m ▼ 7.4%
Debt's share of the balance-sheet total falls from 56.1% to 51.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
12.3%▼
2024 · 20.2%
ROA
6.0%▼
2024 · 8.9%
Debt ≤ 1 year
€5.5m▼
2024 · €5.9m
Debt > 1 year
€16.2m▼
2024 · €17.4m
Income taxes
€263▼
2024 · €323
Staff costs
€107,294▼
2024 · €144,146
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | €3.0m | €3.8m | €3.8m | €3.6m | ▼ 5.1% |
| Turnover70 | €3.0m | €3.8m | €3.8m | €3.6m | ▼ 5.1% |
| Other operating income74 | €20,039 | €2,567 | €2,691 | €3,666 | ▲ 36.2% |
| Operating charges60/66A | €2.5m | €2.3m | €2.5m | €3.0m | ▲ 19.6% |
| Services and other goods61 | €2.3m | €2.1m | €2.3m | €2.9m | ▲ 23.5% |
| Remuneration, social security and pensions62 | €134,259 | €142,707 | €144,146 | €107,294 | ▼ 25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,476 | €48,213 | €24,655 | €3,953 | ▼ 84.0% |
| Other operating charges640/8 | €2,952 | €1,100 | €1,831 | €2,175 | ▲ 18.8% |
| Operating profit (loss)9901 | €499,686 | €1.5m | €1.3m | €631,276 | ▼ 52.0% |
| Financial income75/76B | - | €2.0m | €3.7m | €3.0m | ▼ 18.9% |
| Recurring financial income75 | - | €2.0m | €3.7m | €3.0m | ▼ 18.9% |
| Income from financial fixed assets750 | - | €2.0m | €3.7m | €3.0m | ▼ 18.9% |
| Financial charges65/66B | €1.1m | €1.5m | €1.3m | €1.1m | ▼ 19.6% |
| Recurring financial charges65 | €1.1m | €1.5m | €1.3m | €1.1m | ▼ 19.6% |
| Debt charges650 | €1.1m | €1.5m | €1.3m | €1.1m | ▼ 19.6% |
| Other financial charges652/9 | €2,297 | €239 | €270 | €385 | ▲ 43.0% |
| Profit (loss) for the period before taxes9903 | -€640,993 | €2.0m | €3.7m | €2.6m | ▼ 30.5% |
| Income taxes67/77 | €296 | €223 | €323 | €263 | ▼ 18.7% |
| Taxes670/3 | €345 | €223 | €323 | €263 | ▼ 18.7% |
| Tax adjustments and reversals of tax provisions77 | €48 | - | - | - | - |
| Profit (loss) for the period9904 | -€641,289 | €2.0m | €3.7m | €2.6m | ▼ 30.5% |
| Profit (loss) for the period to be appropriated9905 | -€641,289 | €2.0m | €3.7m | €2.6m | ▼ 30.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €42.4m | €41.8m | €41.7m | €42.5m | ▲ 2.0% |
| Formation expenses20 | €17,420 | €10,901 | €7,117 | €4,128 | ▼ 42.0% |
| Fixed assets21/28 | €39.0m | €38.9m | €38.9m | €38.9m | = |
| Intangible fixed assets21 | €63,079 | €21,835 | €964 | - | - |
| Tangible fixed assets22/27 | €450 | - | - | - | - |
| Plant, machinery and equipment23 | €450 | - | - | - | - |
| Financial fixed assets28 | €38.9m | €38.9m | €38.9m | €38.9m | = |
| Affiliated companies280/1 | €38.9m | €38.9m | €38.9m | €38.9m | = |
| Participating interests280 | €38.9m | €38.9m | €38.9m | €38.9m | = |
| Current assets29/58 | €3.4m | €2.9m | €2.8m | €3.6m | ▲ 29.8% |
| Amounts receivable within one year40/41 | €3.2m | €2.7m | €2.5m | €3.4m | ▲ 34.1% |
| Trade receivables40 | €2.7m | €2.4m | €2.3m | €3.2m | ▲ 39.5% |
| Other amounts receivable41 | €457,085 | €278,414 | €221,583 | €172,945 | ▼ 22.0% |
| Cash at bank and in hand54/58 | €193,718 | €194,748 | €246,396 | €217,861 | ▼ 11.6% |
| Deferred charges and accrued income490/1 | €9,031 | €5,026 | €5,682 | €859 | ▼ 84.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €42.4m | €41.8m | €41.7m | €42.5m | ▲ 2.0% |
| Equity10/15 | €12.6m | €14.6m | €18.3m | €20.9m | ▲ 14.0% |
| Contributions10/11 | €13.2m | €13.2m | €13.2m | €13.2m | = |
| Profit (loss) carried forward14 | -€641,289 | €1.4m | €5.1m | €7.7m | ▲ 50.4% |
| Amounts payable17/49 | €29.8m | €27.2m | €23.4m | €21.7m | ▼ 7.4% |
| Amounts payable after more than one year17 | €22.1m | €20.3m | €17.4m | €16.2m | ▼ 7.2% |
| Financial debts170/4 | €22.1m | €20.3m | €17.4m | €16.2m | ▼ 7.2% |
| Subordinated loans170 | €15.2m | €15.2m | €13.2m | €13.2m | = |
| Credit institutions173 | €6.9m | €5.0m | €4.2m | €3.0m | ▼ 29.9% |
| Amounts payable within one year42/48 | €7.7m | €6.9m | €5.9m | €5.5m | ▼ 7.7% |
| Current portion of amounts payable after more than one year42 | €2.1m | €2.0m | €2.4m | €1.4m | ▼ 40.4% |
| Trade debts44 | €793,261 | €644,302 | €621,459 | €1.6m | ▲ 164% |
| Suppliers440/4 | €793,261 | €644,302 | €621,459 | €1.6m | ▲ 164% |
| Taxes, remuneration and social security45 | €91,814 | €73,828 | €62,739 | €60,721 | ▼ 3.2% |
| Taxes450/3 | €67,726 | €54,177 | €43,286 | €43,164 | ▼ 0.3% |
| Remuneration and social security454/9 | €24,088 | €19,651 | €19,453 | €17,557 | ▼ 9.7% |
| Other amounts payable47/48 | €4.7m | €4.1m | €2.9m | €2.3m | ▼ 17.7% |
| Accrued charges and deferred income492/3 | €38,506 | €57,279 | €25,246 | €9,349 | ▼ 63.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€641,289 | €2.0m | €3.7m | €2.6m | ▼ 30.5% |
| + Depreciation and write-downs630 | €46,476 | €48,213 | €24,655 | €3,953 | ▼ 84.0% |
| Operating cash flow (approximation) | -€594,813 | €2.1m | €3.7m | €2.6m | ▼ 30.9% |
| Investment in fixed assets (approximation) | - | -€6,519 | -€3,784 | -€2,989 | ▲ 21.0% |
| Change in cash | - | €1,030 | €51,648 | -€28,535 | ▼ 155% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
2024
31-12
Financial
Highest result since 2022net €3.7m ▲81%
Net result €3.7m, the highest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €2.0m
Net result €2.0m after one loss-making year.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Antwerpen · 1 establishment unit since 2021
Ground area
1,363 m²
Parcel 11815A0430/00D000, Flanders. Linked by address, not a title deed.
22
companies at this address
See who is registered here
1 establishment unit
SELECT HOLDING
since 20212.326.988.032
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11815A0430/00D000 | Flanders | 1,363 m² | - | - |
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
Part of the group
SEPARCO
15 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holding · 19 subsidiaries in the treeChain of control
- SEPARCO
- SELECT HOLDING
Highest known parent: SEPARCO. The sources do not say who stands above it.
Owners 1
- SEPARCOparentSourceaccounts SEPARCO 202560%
Holdings 1
-
100%
All subsidiaries, including indirect ones 19
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
SELECT GROUP 100%18 subsidiaries
- 3W SELECT 100%
EN International 100%1 subsidiary
- Select Group Nederland 100%
- NederlandVacature 100%
PEPS 100%1 subsidiary
- PEPS INTERIM 99.38%
- Select Engineering BV 100%
- Select HR - PS Services 100%
- SELECT HUMAN RESOURCES 100%
- Select Medical 100%
- Select-Beopledd 100%
- Xpertize Luxemburg 99.9%
- SELECT PROJECTS 99%
- Select HR Groep Nederland BV 80%
Growing Leaders 51%1 subsidiary
- FLY Consult 100%
HOR HOLDING 51%1 subsidiary
- Home of Recruitment 100%
According to the 2025 annual accounts of SELECT HOLDING 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.
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Of 24,517 companies in sector 82990 we hold annual accounts for 9,415. 673 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
Founded24-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0779351943
Also
9925:BE0779351943
Registered
13-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.