Equity
SELECT PROJECTS paid out €800,000 in dividends. That is 60% of the 2025 profit.
SELECT PROJECTS paid out €800,000 in dividends. That is 60% of the 2025 profit.
16 years of growth in a row. Turnover 2025: €31.3m.
Of this, €10.2m falls due within a year.
In 2025, 50 people joined and 45 left.
The last five annual accounts were filed 24 to 32 days before the end of the period.
The dashed line is the sector median: 0.3% across 117 companies (NACE 78, medium-sized).
About 3 in 1,000 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 78, medium-sized). It does better than 49% of them on solvency, 8% on liquidity, 59% on profitability and 78% 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 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 378 companies had the same profile as SELECT PROJECTS has now. Each dot is one company, two years later.
That fits the bankruptcy probability of SELECT PROJECTS itself: 0.3% within 12 months.
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 378 companies, not a prediction for SELECT PROJECTS. 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 tight, with a current ratio of 1.32 (1.3 in 2024), below the usual 1.5. Short-term debt is 75.2% and cash 0.1% of total assets. 75.4% 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 7 accounts on average 26 days before the deadline. In the sector (NACE 78), the median for financial year 2024 was 14 days before the deadline, and 30% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SELECT PROJECTS Antwerp | €31.3m | 6.6% | 24.6% | 168.4 |
| TALENTUS Antwerp | €30.8m | 7.7% | 37.5% | 393.6 |
| Oxford Global Resources (België) Mechelen | €17.0m | 7.2% | 68.7% | 132.3 |
| STEGMANN BELGIUM Antwerp | €14.9m | 5.8% | 77.4% | 171 |
| Flying Services Antwerp | €14.0m | 13.9% | 50.8% | 203.9 |
| PAGE INTERIM (BELGIUM) Ixelles | €51.4m | 4.0% | 11.5% | 99.4 |
| Quality Jobs@work Pelt | €27.8m | 0.7% | 32.0% | 359.6 |
Grey: the largest companies of the sector (employment activities (NACE 78)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as SELECT PROJECTS: temporary employment agencies and other provision of personnel (NACE 78200). They are comparable in size and age: total assets between €7.1m and €10m, founded between 1996 and 2007.
SELECT PROJECTS has existed since 2005. In 2012 turnover rose from €97,054 to €2.2m and staff from 0.8 to 21.1 full-time equivalents.
Turnover has grown every year since.
SELECT GROUP holds 99% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Amounts without an identifiable currency are taken as euros.
Higher than 41% of 315 companies in 2025.
Higher than 46% of 313 companies in 2025.
Higher than 72% of 315 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
94.2 men and 74.2 women in full-time equivalents in 2025.
Men €71,768, women €70,841 per full-time equivalent. Jobs differ, so this is not a pay gap.
In 2025, 50 people joined and 45 left. Training hours in 2025: 2,644.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
13.5m | 11.9m | 10.3m | 9.2m | 8.4m | 7.1m | 5.7m | 4.5m | 3.3m | 1.4m | 1.9m | 1.1m | 744,613 | 671,090 | 75,486 | 23,055 | 43,496 | 19,877 | |
20 |
- | - | - | - | - | 0 | 0 | 0 | - | 76 | 258 | 441 | 624 | 806 | - | - | 178 | 356 | |
21/28 |
117,324 | 93,766 | 104,314 | 66,867 | 50,523 | 51,386 | 95,270 | 33,395 | 38,547 | 35,046 | 36,997 | 18,169 | 72,276 | 126,383 | - | - | 25,241 | 356 | |
21 |
39,602 | 31,812 | 42,558 | 17,633 | 14,016 | 13,670 | 10,929 | 17,902 | 16,519 | 12,847 | 16,725 | 17,728 | 71,652 | 125,576 | - | 7,371 | 25,063 | - | |
22/27 |
70,322 | 54,554 | 54,356 | 49,234 | 36,507 | 37,716 | 49,657 | 15,492 | 22,028 | 22,199 | 20,013 | - | - | - | - | - | - | - | |
22 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
23 |
34,456 | 9,185 | 12,396 | 8,041 | 10,254 | 7,237 | 9,108 | 8,139 | 10,454 | 6,406 | - | - | - | - | - | - | - | - | |
24 |
- | - | 3,508 | 17,040 | 26,254 | 30,479 | 40,548 | 7,353 | 11,573 | 15,793 | 20,013 | - | - | - | - | - | - | - | |
26 |
35,865 | 45,369 | 38,452 | 24,153 | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
27 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
28 |
7,400 | 7,400 | 7,400 | - | - | - | 34,685 | - | - | - | - | - | - | - | - | - | - | - | |
280 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
281 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
282/3 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
282 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
283 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
284/8 |
7,400 | 7,400 | 7,400 | - | - | - | 34,685 | - | - | - | - | - | - | - | - | - | - | - | |
284 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
285/8 |
7,400 | 7,400 | 7,400 | - | - | 0 | 34,685 | 0 | - | - | - | - | - | - | - | - | - | - | |
29/58 |
13.4m | 11.8m | 10.2m | 9.1m | 8.3m | 7.0m | 5.6m | 4.5m | 3.2m | 1.4m | 1.8m | 1.0m | 672,337 | 544,707 | 75,486 | 15,684 | 18,255 | 19,521 | |
290 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
291 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
30/31 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
32 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
33 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
34 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
35 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
36 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
37 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
40/41 |
13.3m | 11.7m | 10.0m | 8.9m | 8.0m | 6.4m | 5.4m | 3.6m | 3.2m | 1.4m | 1.8m | 1.0m | 667,360 | 540,068 | 67,767 | 9,907 | 18,232 | 18,496 | |
40 |
4.5m | 3.0m | 3.1m | 3.2m | 3.5m | 3.5m | 3.1m | 3.2m | 3.1m | 1.3m | 1.8m | 1.0m | 618,335 | 540,068 | 67,767 | 7,000 | 13,673 | 12,836 | |
41 |
8.9m | 8.7m | 6.9m | 5.7m | 4.5m | 2.9m | 2.3m | 421,697 | 100,000 | 112,663 | 224 | - | 49,025 | - | - | 2,907 | 4,559 | 5,660 | |
50 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
51/53 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
54/58 |
14,770 | 39,368 | 31,330 | 139,884 | 228,679 | 637,144 | 45,780 | 897,244 | 49,697 | 7,889 | 16,886 | 18 | 2,352 | 4,640 | 6,283 | 5,777 | 22 | - | |
490/1 |
97,323 | 106,166 | 116,549 | 63,140 | 28,697 | 19,228 | 177,748 | 27,413 | 2,808 | 6,251 | 4,257 | 595 | 2,625 | - | 1,436 | - | - | 1,025 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
13.5m | 11.9m | 10.3m | 9.2m | 8.4m | 7.1m | 5.7m | 4.5m | 3.3m | 1.4m | 1.9m | 1.1m | 744,613 | 671,090 | 75,486 | 23,055 | 43,496 | 19,877 | |
10/15 |
3.3m | 2.8m | 2.3m | 1.7m | 2.1m | 1.8m | 658,115 | 657,887 | 656,411 | 6,203 | -160,756 | -225,005 | -161,683 | -109,385 | 11,437 | 3,255 | -1,119 | 2,406 | |
10/11 |
61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | - | 6,200 | 6,200 | |
10 |
61,500 | 61,500 | 61,500 | 61,500 | 61,500 | - | - | - | - | - | - | - | - | - | - | 6,200 | - | - | |
100 |
61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 61,500 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 0 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
11 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
1109/19 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
12 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
13 |
415,015 | 595,550 | 469,250 | 667,950 | 541,650 | 415,350 | 326,860 | 326,860 | 326,860 | 620 | 620 | 620 | 620 | 620 | 620 | 276 | 276 | 276 | |
130/1 |
6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 1,860 | 1,860 | 1,860 | 620 | 620 | 620 | 620 | 620 | 620 | 276 | 276 | 276 | |
1311 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
1312 |
- | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
1313 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
132 |
372,585 | 492,570 | 463,100 | 336,800 | 210,500 | 409,200 | 325,000 | 325,000 | 325,000 | - | - | - | - | - | - | - | - | - | |
133 |
36,280 | 96,830 | - | 325,000 | 325,000 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
14 |
2.9m | 2.1m | 1.7m | 998,900 | 1.5m | 1.3m | 325,055 | 324,827 | 323,351 | -617 | -167,576 | -231,825 | -168,503 | -116,205 | 4,617 | -3,221 | -7,594 | -4,070 | |
15 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
19 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
16 |
- | - | 27,500 | 93,500 | 159,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
160/5 |
- | - | 27,500 | 93,500 | 159,500 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
160 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
161 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
162 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
163 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
164/5 |
- | - | 27,500 | 93,500 | 159,500 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
168 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
17/49 |
10.2m | 9.1m | 8.0m | 7.4m | 6.1m | 5.3m | 5.1m | 3.9m | 2.6m | 1.4m | 2.0m | 1.3m | 906,296 | 780,475 | 64,050 | 19,800 | 44,614 | 17,471 | |
17 |
- | - | - | - | - | 270,155 | - | - | - | - | - | - | - | - | - | - | - | - | |
170 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
171 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
172 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
173 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
174 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
1750 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
1751 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
176 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
178/9 |
- | - | - | - | - | 270,155 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
42/48 |
10.2m | 9.1m | 8.0m | 7.4m | 6.1m | 5.0m | 5.1m | 3.9m | 2.6m | 1.4m | 2.0m | 1.3m | 906,296 | 780,475 | 64,050 | 19,800 | 44,614 | 17,030 | |
42 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
43 |
1.1m | 1.1m | 351,301 | 422,822 | 325,185 | 410,288 | 766,891 | 923,500 | 356,237 | - | 563,484 | 390,794 | 182,748 | 114,367 | - | - | - | 63 | |
430/8 |
1.1m | 1.1m | 351,301 | 422,822 | 325,185 | 410,288 | 766,891 | 923,500 | 356,237 | - | 563,484 | 390,794 | 182,748 | 114,367 | - | - | - | 63 | |
439 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
44 |
5.2m | 4.1m | 3.7m | 3.1m | 2.4m | 2.0m | 1.9m | 714,758 | 701,385 | 436,001 | 308,511 | 186,326 | 166,504 | 102,441 | 34,664 | - | 3,314 | - | |
440/4 |
5.2m | 4.1m | 3.7m | 3.1m | 2.4m | 2.0m | 1.9m | 714,758 | 701,385 | 436,001 | 308,511 | 186,326 | 166,504 | 102,441 | 34,664 | - | 3,314 | - | |
441 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
46 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
45 |
2.9m | 2.6m | 2.7m | 2.6m | 2.5m | 2.5m | 1.8m | 1.6m | 1.6m | 889,359 | 572,712 | 451,268 | 388,968 | 334,992 | 8,086 | - | - | 6,967 | |
450/3 |
772,810 | 616,528 | 808,995 | 711,597 | 791,131 | 731,894 | 314,665 | 453,296 | 635,932 | 293,760 | 169,966 | 121,368 | 74,328 | 95,896 | 4,035 | - | - | 6,121 | |
454/9 |
2.1m | 2.0m | 1.9m | 1.9m | 1.7m | 1.8m | 1.5m | 1.1m | 927,233 | 595,599 | 402,746 | 329,900 | 314,640 | 239,096 | 4,051 | - | - | 846 | |
47/48 |
890,081 | 1.3m | 1.2m | 1.3m | 873,744 | 41,597 | 554,603 | 675,000 | - | 88,974 | 585,056 | 247,066 | 168,076 | 228,676 | 21,300 | 19,800 | 41,300 | 10,000 | |
492/3 |
35,586 | 589 | 17,339 | - | - | 11,532 | 17,852 | 0 | 9,090 | - | - | - | - | - | - | - | - | 441 | |
| Income statement | |||||||||||||||||||
70/76A |
31.9m | 29.2m | 25.9m | 21.6m | 18.5m | 18.0m | 16.7m | 15.0m | 10.8m | - | 5.6m | 4.2m | 3.8m | 2.2m | 97,348 | - | 11,605 | 254,205 | |
70 |
31.3m | 28.5m | 25.1m | 21.0m | 17.8m | 17.1m | 16.5m | 14.8m | 10.7m | 7.6m | 5.5m | 4.1m | 3.7m | 2.2m | 97,054 | 25,000 | 11,300 | 252,173 | |
71 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
72 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
74 |
642,873 | 595,541 | 737,849 | 575,744 | 739,427 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
76A |
- | 90,673 | 27,643 | 59 | - | 272,869 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
9900 |
- | - | - | - | - | - | - | - | - | 4.4m | - | - | - | - | - | - | - | - | |
60/66A |
29.9m | 26.8m | 23.6m | 20.1m | 16.9m | 16.3m | 15.9m | 13.7m | 9.8m | - | 5.4m | 4.2m | 3.8m | 2.3m | 88,428 | - | 14,590 | 252,723 | |
60/61 |
- | - | - | - | - | - | - | - | - | 3.3m | - | - | - | - | - | - | - | - | |
600/8 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
609 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
61 |
17.8m | 15.4m | 12.5m | 9.9m | 7.8m | 7.0m | 7.9m | 6.3m | 4.1m | - | 2.5m | 1.8m | 1.6m | 904,621 | 44,445 | 1,095 | 3,047 | 66,549 | |
62 |
12.0m | 11.4m | 11.1m | 10.2m | 8.9m | 9.2m | 8.0m | 7.4m | 5.6m | 4.0m | 2.9m | 2.4m | 2.2m | 1.4m | 34,040 | 15 | - | 185,500 | |
630 |
35,445 | 32,492 | 34,032 | 25,888 | 18,201 | 22,536 | 21,038 | 14,070 | 12,147 | 8,755 | 21,694 | 54,107 | 54,107 | 36,303 | 7,371 | 17,869 | 10,498 | 178 | |
631/4 |
- | - | - | - | - | -5,937 | 0 | 0 | 27,825 | - | - | - | - | - | - | - | - | - | |
635/8 |
- | -27,500 | -66,000 | -66,000 | 159,500 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
640/8 |
3,081 | 1,937 | 2,824 | 5,446 | 4,246 | 10,856 | 16,603 | 4,620 | 3,931 | 2,366 | 3,095 | 1,689 | 1,086 | 1,354 | 2,571 | 653 | 1,046 | 496 | |
649 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
66A |
607 | - | - | - | - | 41,715 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
9901 |
2.1m | 2.3m | 2.3m | 1.5m | 1.6m | 1.8m | 821,585 | 1.3m | 978,911 | 384,467 | 174,991 | -28,449 | -26,391 | -106,123 | 8,920 | 5,368 | -2,985 | 1,482 | |
75/76B |
206,452 | 378,263 | 314,941 | 110,653 | 41,042 | 31,146 | 41,123 | 17,060 | 5,185 | 606 | 3 | 194 | 3,779 | 1,855 | - | - | 15 | 147 | |
75 |
206,452 | 378,263 | 314,941 | 110,653 | 41,042 | 31,146 | 41,123 | 17,060 | 5,185 | 606 | 3 | 194 | 3,779 | 1,855 | - | - | 15 | 147 | |
750 |
- | - | - | - | - | 0 | 11 | 0 | - | - | - | - | - | - | - | - | 15 | - | |
751 |
198,741 | 375,996 | 312,912 | 110,653 | 41,042 | 31,146 | 40,952 | 17,060 | 5,185 | - | 3 | - | 480 | - | - | - | - | 147 | |
752/9 |
7,711 | 2,267 | 2,028 | - | - | 0 | 161 | 0 | - | - | - | 194 | 3,299 | 1,855 | - | - | - | - | |
76B |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
337,356 | 354,039 | 272,596 | 121,531 | 79,733 | 85,730 | 71,432 | 65,128 | 58,887 | 53,249 | 45,745 | 32,909 | 26,802 | 13,299 | 487 | - | 563 | 153 | |
65 |
337,356 | 354,039 | 272,596 | 121,531 | 79,733 | 85,730 | 71,432 | 65,128 | 58,887 | 53,249 | 45,745 | 32,909 | 26,802 | 13,299 | 487 | 995 | 563 | 153 | |
650 |
336,427 | 352,912 | 271,704 | 120,335 | 79,355 | 84,457 | 69,679 | 64,190 | 58,181 | - | 45,502 | 32,686 | 26,605 | 13,137 | 448 | 859 | 447 | 134 | |
651 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
652/9 |
929 | 1,126 | 892 | 1,196 | 379 | 1,273 | 1,753 | 938 | 707 | - | 243 | 223 | 196 | 162 | 39 | 136 | 116 | 19 | |
66B |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
9903 |
1.9m | 2.4m | 2.3m | 1.5m | 1.6m | 1.7m | 791,276 | 1.2m | 925,209 | 331,823 | 129,248 | -61,165 | -49,414 | -117,568 | 8,433 | 4,373 | -3,533 | 1,476 | |
67/77 |
608,817 | 720,098 | 738,807 | 533,325 | 517,053 | 560,088 | 374,048 | 573,043 | 275,000 | 164,864 | 65,000 | 2,157 | 2,885 | 3,253 | 251 | - | -8 | 3,201 | |
670/3 |
608,817 | 720,098 | 738,807 | 533,325 | 517,053 | 560,088 | 374,048 | 577,211 | 275,000 | - | 65,000 | 2,157 | 2,885 | 3,253 | 251 | - | 292 | 3,201 | |
77 |
- | - | - | - | - | 0 | 0 | 4,169 | - | - | - | - | - | - | - | - | 301 | - | |
9904 |
1.3m | 1.6m | 1.6m | 957,276 | 1.1m | 1.1m | 417,227 | 676,476 | 650,209 | 166,959 | 64,248 | -63,322 | -52,298 | -120,821 | 8,182 | 4,373 | -3,525 | -1,725 | |
789 |
189,450 | 96,830 | - | - | 325,000 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
689 |
69,465 | 126,300 | 126,300 | 126,300 | 126,300 | 84,200 | 0 | 0 | 325,000 | - | - | - | - | - | - | - | - | - | |
9905 |
1.4m | 1.6m | 1.5m | 830,976 | 1.3m | 1.1m | 417,227 | 676,476 | 325,209 | 166,959 | 64,248 | -63,322 | -52,298 | -120,821 | 8,182 | 4,373 | -3,525 | -1,725 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
3.6m | 3.3m | 2.5m | 2.3m | 2.6m | 1.4m | 742,055 | 999,827 | 324,591 | -617 | -167,576 | -231,825 | -168,503 | -116,205 | 4,961 | -3,221 | -7,594 | -4,070 | |
14P |
2.1m | 1.7m | 998,900 | 1.5m | 1.3m | - | - | - | - | - | - | - | - | - | - | -7,594 | - | - | |
791/2 |
250,000 | - | 325,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
792 |
250,000 | - | 325,000 | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
189,450 | 96,830 | - | - | 325,000 | 47,190 | - | - | 1,240 | - | - | - | - | - | 344 | - | - | - | |
691 |
- | - | - | - | - | 42,900 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | 4,290 | 0 | 0 | 1,240 | - | - | - | - | - | 344 | - | - | - | |
6921 |
189,450 | 96,830 | - | - | 325,000 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
694/7 |
800,000 | 1.1m | 1.1m | 1.3m | 830,000 | - | 417,000 | 675,000 | - | - | - | - | - | - | - | - | - | - | |
694 |
800,000 | 1.1m | 1.1m | 1.3m | 830,000 | 0 | 417,000 | 675,000 | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
696 |
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||
9087 |
168.4 | 170.6 | 166.6 | 165.9 | 144.8 | 150.1 | 133.8 | 119.2 | 90.1 | 62.9 | 46.4 | 38.8 | 36.1 | 21.1 | 0.8 | - | - | 4.1 | |
Men (FTE)1003 |
94.2 | 92.1 | 92.5 | 92.1 | 79 | 89.6 | 75.3 | 60.4 | 55.6 | - | 34.3 | 29.8 | 26.5 | 15.3 | - | - | - | - | |
Women (FTE)1003 |
74.2 | 78.5 | 74.1 | 73.8 | 65.8 | 60.5 | 58.5 | 58.8 | 34.5 | - | 12.1 | 9 | 9.6 | 5.8 | - | - | - | - | |
Agency workers1501 |
- | 0.1 | 0.2 | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
268,794 | 275,624 | 274,263 | 270,743 | 242,005 | 244,022 | 222,508 | 197,986 | 150,832 | 106,261 | 77,479 | 62,532 | 60,448 | 35,557 | 1,368 | - | - | 7,203 | |
| Document | |||||||||||||||||||
The accounts for 2 older financial years (2006-2007) were filed as documents without figures as data, scans for example.
The notes to these accounts have 48 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 29-06-2026 | 2026-00236948 | |
| 31-12-2024 | full format | 02-07-2025 | 2025-00224017 | |
| 31-12-2023 | full format | 03-07-2024 | 2024-00222330 | |
| 31-12-2022 | full format | 07-07-2023 | 2023-00219925 | |
| 31-12-2021 | full format | 06-07-2022 | 2022-20173423 | |
| 31-12-2020 | full format | 12-07-2021 | 2021-34500262 | |
| 31-12-2019 | full format | 07-07-2020 | 2020-27800182 | |
| 31-12-2018 | full format | 10-07-2019 | 2019-31800405 | |
| 31-12-2017 | full format | 22-06-2018 | 2018-21900573 | |
| 31-12-2016 | abbreviated format | 13-07-2017 | 2017-31700023 | |
| 31-12-2015 | full format | 14-07-2016 | 2016-32100325 | |
| 31-12-2014 | full format | 07-07-2015 | 2015-28500375 | |
| 31-12-2013 | full format | 14-07-2014 | 2014-30300016 | |
| 31-12-2012 | full format | 01-07-2013 | 2013-24900105 | |
| 31-12-2011 | full format | 28-06-2012 | 2012-23000340 | |
| 31-12-2010 | full format | 29-06-2011 | 2011-25300553 | |
| 31-12-2009 | full format | 29-06-2010 | 2010-24100044 | |
| 31-12-2008 | full format | 30-06-2009 | 2009-33300283 | |
| 31-12-2007 | abbreviated format | 26-06-2008 | 2008-27500387 | |
| 31-12-2006 | abbreviated format | 29-06-2007 | 2007-30500148 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €852 | €852 |
| 2024 | 1 | €7,008 | €7,008 |
| 2023 | 1 | €14,037 | €14,037 |
| 2022 | 1 | €7,753 | €7,753 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.1m | 2.4m | 2.3m | 1.5m | 1.7m | 1.8m | 842,623 | 1.3m | 991,058 | 393,222 | 196,685 | 25,658 | 27,716 | -69,821 | 16,292 | 23,237 | 7,513 | 1,660 | ||
| 1.4m | 1.7m | 1.6m | 983,164 | 1.1m | 1.2m | 438,265 | 690,546 | 662,356 | 175,714 | 85,943 | -9,215 | 1,808 | -84,518 | 15,553 | 22,242 | 6,973 | -1,547 | ||
| 59,003 | 24,140 | 64,079 | 42,232 | 17,338 | 13,337 | 48,229 | 8,917 | 15,572 | 6,880 | 40,522 | 0 | 0 | 161,772 | 0 | -1 | 35,383 | - | ||
| -24,598 | 8,039 | -108,554 | -88,795 | -408,465 | 591,364 | -851,464 | 847,547 | 41,808 | -8,997 | 16,868 | -2,334 | -2,288 | -1,643 | 506 | 5,755 | - | - | ||
| 3.2m | 2.7m | 2.2m | 1.8m | 2.2m | 2.0m | 580,697 | 624,493 | 626,954 | -28,919 | -197,753 | -243,174 | -233,959 | -235,767 | 11,437 | -4,116 | -26,360 | 2,491 | ||
| 6.6% | 8.2% | 9.2% | 7.2% | 9.3% | 10.2% | 5.0% | 8.8% | 9.2% | 5.0% | 3.2% | -0.7% | -0.7% | -4.8% | 9.2% | 21.5% | -26.4% | 0.6% | ||
| 24.6% | 23.5% | 22.1% | 18.8% | 24.8% | 25.6% | 11.5% | 14.5% | 20.0% | 0.4% | -8.6% | -21.4% | -21.7% | -16.3% | 15.2% | 14.1% | -2.6% | 12.1% | ||
| 1.32 | 1.30 | 1.28 | 1.24 | 1.36 | 1.41 | 1.11 | 1.16 | 1.24 | 0.98 | 0.90 | 0.81 | 0.74 | 0.70 | 1.18 | 0.79 | 0.41 | 1.15 | ||
| 3.07 | 3.26 | 3.52 | 4.28 | 2.96 | 2.91 | 7.73 | 5.90 | 4.01 | - | - | - | - | - | 5.60 | 6.08 | - | 7.26 | ||
| 39.7% | 58.5% | 71.1% | 55.4% | 52.7% | 63.0% | 63.4% | 102.8% | 99.1% | - | - | - | - | - | 71.5% | 134.3% | - | -71.7% | ||
| 9.8% | 13.8% | 15.7% | 10.4% | 13.1% | 16.1% | 7.3% | 14.9% | 19.8% | 11.8% | 3.4% | -6.0% | -7.0% | -18.0% | 10.8% | 19.0% | -8.1% | -8.7% | ||
| 6.23 | 6.71 | 8.61 | 12.69 | 20.98 | 21.04 | 12.09 | 20.43 | 17.03 | - | 4.32 | 0.78 | 1.04 | -5.31 | 36.37 | 27.05 | 16.81 | 12.39 | ||
| 52 days | 38 days | 45 days | 56 days | 73 days | 74 days | 68 days | 78 days | 106 days | 60 days | 119 days | 91 days | 60 days | 89 days | 255 days | 102 days | 442 days | 19 days | ||
| 108 days | 96 days | 108 days | 114 days | 114 days | 107 days | 89 days | 42 days | 62 days | 48 days | 46 days | 39 days | 39 days | 41 days | 285 days | - | 397 days | - |
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 | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 180 | 175 | 170 | 172 | 152 |
| full-time | 158 | 153 | 150 | 154 | 137 |
| part-time | 22 | 22 | 20 | 18 | 15 |
| in full-time equivalents | 175.2 | 170.5 | 165.8 | 167.9 | 148.3 |
| 168.4 | 170.6 | 166.6 | 165.9 | 144.8 | |
| On a permanent contract | 180 | 175 | 170 | 171 | 151 |
| Joined | 50 | 37 | 39 | 83 | 71 |
| Left | 45 | 32 | 41 | 63 | 56 |
| Agency workers, average number | - | 0.1 | 0.2 | - | - |
| Training hours | 2,644 | 1,727 | 1,672 | 1,660 | 792 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €39,445 | €24,140 | €30,295 | €32,492 | €11,038 |
| Intangible fixed assets | €19,558 | - | €33,784 | €9,740 | €6,300 |
| €35,445 | €32,492 | €34,032 | €25,888 | €18,201 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The auditor is Finvision Bedrijfsrevisoren.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fee for the audit | €10,500 | €9,941 | €9,559 | €9,104 | €8,670 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
The operating result for 2025 is 12% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total falls from 76.5% to 75.4%. Equity and debt are higher.
Deed of 14-11-20251 statutory auditor reappointedFinvision Bedrijfsrevisoren BV (statutory auditor) · Permanent representatives: Dieter Engelen and Gonnissen Bart · General meeting of 20-06-2025
Further up the chainSELECT HOLDING 100%SEPARCO 60%
Source: shareholder structure in its own accounts, parent in its own accounts
Source: list of holdings in the 2025 accounts of SELECT GROUP. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
Part of the group SEPARCO Group, risk and exposure| SELECT HOLDING
registered office since 24-12-2021 · founded in 2021 · group SEPARCO |
turnover €3.6m (2025) 0779.351.943 |
| SELECT GROUP
registered office since 01-09-1994 · founded in 1994 · group SEPARCO |
14 FTE (2025) 0453.302.675 |
| PEPS INTERIM
establishment since 26-08-2019 · founded in 2005 · group SEPARCO |
376 FTE (2025) 0872.546.573 |
| SELECT HUMAN RESOURCES
registered office since 18-07-2005 · founded in 1986 · group SEPARCO |
267 FTE (2025) 0428.836.604 |
| SEPARCO
registered office since 24-12-2021 · founded in 2021 |
total assets €15.9m (2025) 0779.340.560 |
| S-A-B
registered office since 15-11-2024 · founded in 2024 |
turnover €1.8m (2025) 1016.266.030 |
| EN International
registered office since 27-02-2020 · founded in 2020 · group SEPARCO |
total assets €9.2m (2025) 0744.522.114 |
| NEXT ARCH
registered office since 13-12-2021 · founded in 2021 |
total assets €5.8m (2025) 0778.539.222 |
| PEPS
registered office since 05-01-2018 · founded in 2018 · group SEPARCO |
total assets €5.6m (2025) 0687.591.824 |
| FRINVESTCO II
registered office since 23-06-2023 · founded in 2023 |
total assets €2.3m (2025) 0803.102.788 |
| Sertius Group via GENERAL TRADE & ADVICE, no longer at Sertius Group · Director · deed of 07-07-2020 founded in 2020 |
total assets €6.0m (2025) |
| ALL FIELDS INVEST via DESAU Consulting, at SELECT PROJECTS until 2025 · Director · deed of 08-08-2025 founded in 2022 |
total assets €3.3m (2025) |
| TND Group Europe via DESAU Consulting, at SELECT PROJECTS until 2025 · Class B director · deed of 24-12-2025 |
founded in 2025 |
| M.I.G. 7 via Bart Maria Louis GONNISSEN (no longer at M.I.G. 7) and Ginsenga International (at SELECT PROJECTS, last mentioned in 2021) · Manager · deed of 01-02-2019 No longer active |
total assets €6.3m (2018) |
| Human Ventures via B.G.T. CONSULTING (no longer at Human Ventures), Bart Maria Louis GONNISSEN (no longer at Human Ventures) and Ginsenga International (at SELECT PROJECTS, last mentioned in 2021) · Manager · deed of 20-02-2019 No longer active |
turnover €15,000 (2018) |
| Fill the Gap via B.G.T. CONSULTING (no longer at Fill the Gap), Bart Maria Louis GONNISSEN (no longer at Fill the Gap) and Ginsenga International (at SELECT PROJECTS, last mentioned in 2021) · Director · deed of 28-01-2019 No longer active |
turnover €63,508 (2020) |
| Reality Review via DESAU Consulting, at SELECT PROJECTS until 2025 · Sole director · deed of 17-10-2018 No longer active |
total assets €13,554 (2020) |
| MAPARCO via Lagom Projects (no longer at MAPARCO) and B.G.T. CONSULTING (no longer at MAPARCO) · Director · deeds of 31-01-2022 and 07-12-2018 No longer active · founded in 2018 |
total assets €659 (2026) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
“Uitvoeren van projecten en diensten middels een dienstverleningsovereenkomst in om het even welk vakgebied en in alle professionele sectoren,op basis van vaste prijs of regie;om in zulke dienstverlening te voorzien kan de vennootschap een geheel aan middelen inzetten waaronder haar knowhow,materiaal,werknemers of aangestelden.”
1 of 2 establishments on the map
| Establishment | Since | Unit number |
|---|---|---|
| Transcontinentaalweg 13 registered office 2030 Antwerp | 14-12-2005 | 2.229.151.852 |
| Rue Emile Francqui 4 1435 Mont-Saint-Guibert | 01-06-2022 | 2.332.417.953 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11815A0430/00D000 | 1,363 m² | - | - |
If something looks wrong or is missing, please tell us.