SELS
ActiveSELS has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €104k and a net result of €-4k. Equity is growing by ~38.7% per year across the filed fiscal years. Its solvency ranks better than 22% of 7760 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▼-7
Solvency47▼-8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.79 against 0.92 in 2024; short-term debt: 78.3% and cash: 3.3% of total assets), and 78.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
21.7%
Return on assets
-0.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 7760 sector peers (2025).
NBB · sector comparisonPosition among 7760 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
29 d late
2022
30 d late
2021
31 d late
2020
30 d late
2019
92 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€104k▼ 3.9%
2024 · €108k
2018: €-70k
2019: €-67k
2020: €-45k
2021: €50k
2022: €67k
2023: €91k
2024: €108k
2018 → 2025
Total assets
€479k▲ 31.1%
2024 · €366k
2018: €113k
2019: €134k
2020: €153k
2021: €245k
2022: €257k
2023: €361k
2024: €366k
2018 → 2025
Net result
€-4k
2024 · €17k
2018: €3k
2019: €4k
2020: €22k
2021: €21k
2022: €17k
2023: €23k
2024: €17k
2018 → 2025
Working capital
€-77k▼ 287%
2024 · €-20k
2018: €-87k
2019: €-87k
2020: €-64k
2021: €-38k
2022: €-25k
2023: €-52k
2024: €-20k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€50k-€67k▲ 33.7%€91k▲ 34.1%€108k▲ 19.3%€104k▼ 3.9%
Operating result€21k-€17k▼ 19.6%€23k▲ 34.6%€18k▼ 23.4%€-3k
Net result€21k-€17k▼ 19.6%€23k▲ 35.3%€17k▼ 24.1%€-4k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3k after €18k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €479k
Fixed assets
€181k▲ 41.4%
Current assets
€298k▲ 25.5%
Equity and liabilities €479k
Equity
€104k▼ 3.9%
Debt
€375k▲ 45.7%
The debt ratio rises from 70.5% to 78.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€22k▼
2024 · €32k
Cash flow
€22k▼
2024 · €32k
Solvency
21.7%▼
2024 · 29.5%
Current ratio
0.79▼
2024 · 0.92
Quick ratio
0.79▼
2024 · 0.92
Debt / equity
3.62▲
2024 · 2.39
ROE
-4.0%▼
2024 · 16.2%
ROA
-0.9%▼
2024 · 4.8%
Interest coverage
87.30▼
2024 · 524.09
Debt
€375k▲
2024 · €258k
Debt ≤ 1 year
€375k▲
2024 · €258k
Income taxes
€431▲
2024 · €268
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€366k€479k▲
Fixed assets21/28€128k€181k▲
Tangible fixed assets22/27€128k€181k▲
Land and buildings22€76k€75k▼
Plant, machinery and equipment23€6k€12k▲
Furniture and vehicles24€46k€94k▲
Leasing and similar rights25€0-
Current assets29/58€238k€298k▲
Stocks and contracts in progress3€0-
Stocks30/36€0-
Contracts in progress37€0-
Amounts receivable within one year40/41€238k€282k▲
Trade receivables40€234k€281k▲
Other amounts receivable41€4k€2k▼
Cash at bank and in hand54/58€21€16k▲
Equity and liabilities
Total equity and liabilities10/49€366k€479k▲
Equity10/15€108k€104k▼
Contributions10/11€136k€136k=
Capital10€136k€136k=
Issued capital100€136k€136k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€-30k€-34k▼
Amounts payable17/49€258k€375k▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€258k€375k▲
Current portion of amounts payable after more than one year42€11k€11k=
Trade debts44€39k€54k▲
Suppliers440/4€39k€54k▲
Taxes, remuneration and social security45€13k€13k▼
Taxes450/3€1k€1k▼
Remuneration and social security454/9€12k€12k=
Other amounts payable47/48€196k€298k▲
Income statement
Code20242025
Remuneration, social security and pensions62€-809-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€26k▲
Other operating charges640/8€5k€2k▼
Gross operating margin9900€36k€24k▼
Operating profit (loss)9901€18k€-3k▼
Financial income75/76B€5€26▲
Recurring financial income75€5€26▲
Financial charges65/66B€61€254▲
Recurring financial charges65€61€254▲
Profit (loss) for the period before taxes9903€18k€-4k▼
Income taxes67/77€268€431▲
Profit (loss) for the period9904€17k€-4k▼
Profit (loss) for the period to be appropriated9905€17k€-4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-30k€-34k▼
Profit (loss) brought forward from the previous period14P€-48k€-30k▲
The notes to these accounts (4 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-4k ▼124%
Net result drops to €-4k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Equity above €100kEq €108k ▲19.3%
7 profitable years in a row build equity to €108k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Highest result since 2018net €23k ▲35.3%
Operating result €23k, net result €23k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Putte · 1 establishment unit since 1989
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Schrieksesteenweg 482580 PutteGround area
1.3 ha
Building footprint
621 m²
Volume, LiDAR
2,062 m³
Parcel 12029C0399/00D000, Flanders · tallest building 5.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Schrieksesteenweg 48, 2580 Putte
since 19892.046.055.345
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12029C0399/00D000 | Flanders | 1.3 ha | 1 · 621 m² | 5.3 m · 1 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
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BE 0800.332.647
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HOOMANS STUKBEDRIJF
BE 0860.447.903
Hamont-Achel · Eq €104k
DASCALU CONSTRUCT
BE 0666.605.873
Torhout · Eq €104k
Dehennin & Zoon
BE 0886.407.081
Hoegaarden · Eq €104k
Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 6,228 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-11-1989
Fiscal year end31-12
Activities, NACEBEL
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.