SELVER
ActiveSummary
SELVER has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €351,427 and a net result of €12,907. Equity is growing by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 82 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▲+24
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 25.22 against 21.67 in 2024; short-term debt: 4% and cash: 0.1% of total assets), and 4.1% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 50
Relative position
BE, all sectors
reference
Water transport (NACE 50)
about 39% fewer bankruptcies
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
95.9%
Return on assets
3.5%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 07-04-2026, 66 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
66 d late
2024
41 d late
2023
30 d late
2022
on the day
2021
on the day
2020
25 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 41% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 2 March (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
Go further with this company
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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#7 company by equity in Kapellen, Transport and storage sector
Equity
€351,427▲ 3.8%
2024 · €338,520
Total assets
€366,451▲ 3.2%
2024 · €355,238
Net result
€12,907▲ 50.7%
2024 · €8,567
Working capital
€351,921▲ 3.9%
2024 · €338,845
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 50, Water transport, 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€109,972▲ 317%€1.2m▲ 1,003%€15,336▼ 98.7%-€4,058-€1,319▲ 67.5%
Net result€38,170within the sector's middle half€922,807above the sector's middle half▲ 2,318%€10,570within the sector's middle half▼ 98.9%€8,567within the sector's middle half▼ 19.0%€12,907within the sector's middle half▲ 50.7%
Equity€335,076within the sector's middle half▲ 12.9%€319,383within the sector's middle half▼ 4.7%€329,954within the sector's middle half▲ 3.3%€338,520within the sector's middle half▲ 2.6%€351,427within the sector's middle half▲ 3.8%
Total assets€2.7mwithin the sector's middle half▼ 4.7%€744,708below the sector's middle half▼ 71.9%€339,412below the sector's middle half▼ 54.4%€355,238below the sector's middle half▲ 4.7%€366,451below the sector's middle half▲ 3.2%
Debt€2.3m▼ 6.8%€425,325▼ 81.7%€9,459▼ 97.8%€16,718▲ 76.7%€15,024▼ 10.1%
Working capital-€122,041below the sector's middle half▲ 60.2%€281,483within the sector's middle half€330,456within the sector's middle half▲ 17.4%€338,845within the sector's middle half▲ 2.5%€351,921within the sector's middle half▲ 3.9%
Solvency12.6%within the sector's middle half▲ 2.0pp42.9%within the sector's middle half▲ 30.3pp97.2%above the sector's middle half▲ 54.3pp95.3%above the sector's middle half▼ 1.9pp95.9%above the sector's middle half▲ 0.6pp
Current ratio0.70below the sector's middle half▲ 0.471.66within the sector's middle half▲ 0.9738.30above the sector's middle half▲ 36.6321.67above the sector's middle half▼ 16.6325.22above the sector's middle half▲ 3.55
Return on assets (ROA)1.4%within the sector's middle half▲ 3.7pp123.9%above the sector's middle half▲ 122.5pp3.1%within the sector's middle half▼ 120.8pp2.4%within the sector's middle half▼ 0.7pp3.5%within the sector's middle half▲ 1.1pp
above
within
below
the middle half (P25 to P75) of NACE 50, Water transport, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,319 in 2025 against €4,058 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €366,451
Equity
€351,427 ▲ 3.8%
Debt
€15,024 ▼ 10.1%
Debt's share of the balance-sheet total falls from 4.7% to 4.1%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.04▼
2024 · 0.05
ROE
3.7%▲
2024 · 2.5%
Debt ≤ 1 year
€14,530▼
2024 · €16,393
Income taxes
€6,610▲
2024 · €4,271
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.7%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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% | 1.8% |
| 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 10,905 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1.0m | €4,619 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €321,110 | €3,008 | €330 | €96 | - | - |
| Other operating charges640/8 | - | €3,434 | €1,712 | €1,001 | €910 | ▼ 9.0% |
| Gross operating margin9900 | €434,380 | €1.2m | €17,379 | -€2,961 | -€409 | ▲ 86.2% |
| Operating profit (loss)9901 | €109,972 | €1.2m | €15,336 | -€4,058 | -€1,319 | ▲ 67.5% |
| Financial income75/76B | - | €250 | €180 | €17,217 | €21,092 | ▲ 22.5% |
| Recurring financial income75 | €7,368 | €250 | €180 | €17,217 | €21,092 | ▲ 22.5% |
| Financial charges65/66B | - | €97,540 | €446 | €321 | €256 | ▼ 20.2% |
| Recurring financial charges65 | €78,240 | €97,540 | €446 | €321 | €256 | ▼ 20.2% |
| Profit (loss) for the period before taxes9903 | €39,100 | €1.1m | €15,071 | €12,838 | €19,517 | ▲ 52.0% |
| Income taxes67/77 | €931 | €192,545 | €4,500 | €4,271 | €6,610 | ▲ 54.8% |
| Profit (loss) for the period9904 | €38,170 | €922,807 | €10,570 | €8,567 | €12,907 | ▲ 50.7% |
| Profit (loss) for the period to be appropriated9905 | €38,170 | €922,807 | €10,570 | €8,567 | €12,907 | ▲ 50.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €744,708 | €339,412 | €355,238 | €366,451 | ▲ 3.2% |
| Fixed assets21/28 | €2.4m | €38,470 | €96 | - | - | - |
| Tangible fixed assets22/27 | €2.4m | €38,470 | €96 | - | - | - |
| Furniture and vehicles24 | - | €38,470 | €96 | - | - | - |
| Current assets29/58 | €278,392 | €706,239 | €339,316 | €355,238 | €366,451 | ▲ 3.2% |
| Amounts receivable within one year40/41 | €205,602 | €23,145 | €295,500 | €330,297 | €344,911 | ▲ 4.4% |
| Trade receivables40 | - | €21,049 | - | - | - | - |
| Other amounts receivable41 | - | €2,096 | €295,500 | €330,297 | €344,911 | ▲ 4.4% |
| Cash at bank and in hand54/58 | €60,938 | €683,094 | €43,816 | €7,966 | €455 | ▼ 94.3% |
| Deferred charges and accrued income490/1 | - | - | - | €16,975 | €21,085 | ▲ 24.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €744,708 | €339,412 | €355,238 | €366,451 | ▲ 3.2% |
| Equity10/15 | €335,076 | €319,383 | €329,954 | €338,520 | €351,427 | ▲ 3.8% |
| Contributions10/11 | €1.0m | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | - | €256,150 | €266,150 | €274,650 | €287,550 | ▲ 4.7% |
| Non-distributable reserves130/1 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | - | €250,000 | €260,000 | €268,500 | €281,400 | ▲ 4.8% |
| Profit (loss) carried forward14 | -€664,924 | €1,733 | €2,304 | €2,370 | €2,377 | ▲ 0.3% |
| Amounts payable17/49 | €2.3m | €425,325 | €9,459 | €16,718 | €15,024 | ▼ 10.1% |
| Amounts payable after more than one year17 | €1.9m | - | - | - | - | - |
| Amounts payable within one year42/48 | €400,433 | €424,755 | €8,860 | €16,393 | €14,530 | ▼ 11.4% |
| Trade debts44 | €22,224 | €12,294 | €3,944 | €7,278 | €7,452 | ▲ 2.4% |
| Suppliers440/4 | - | €12,294 | €3,944 | €7,278 | €7,452 | ▲ 2.4% |
| Taxes, remuneration and social security45 | - | €29,822 | €4,916 | €9,115 | €7,078 | ▼ 22.3% |
| Taxes450/3 | - | €29,822 | €4,916 | €9,115 | €7,078 | ▼ 22.3% |
| Other amounts payable47/48 | - | €382,640 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €570 | €598 | €325 | €494 | ▲ 52.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,170 | €922,807 | €10,570 | €8,567 | €12,907 | ▲ 50.7% |
| + Depreciation and write-downs630 | €321,110 | €3,008 | €330 | €96 | - | - |
| Operating cash flow (approximation) | €359,279 | €925,815 | €10,901 | €8,663 | €12,907 | ▲ 49.0% |
| Investment in fixed assets (approximation) | - | €2.3m | €38,043 | - | - | - |
| Change in cash | - | €622,156 | -€639,278 | -€35,850 | -€7,511 | ▲ 79.0% |
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
07-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 66 days late
2025
13-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 41 days late
2024
01-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
30-06
Financial
Liquidity times 23current ratio 38.30
Current ratio from 1.66 to 38.30; short-term debt falls from €424,755 to €8,860.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Highest result since 2019net €922,807 ▲2,318%
Operating result €1.2m, net result €922,807, both a record.
30-06
Financial
Liquidity doublescurrent ratio 1.66
Current ratio from 0.70 to 1.66.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Back to profitnet €38,170
Net result €38,170 after one loss-making year.
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
2020
30-06
Financial
Weakest financial yearnet -€62,000
Net result drops to -€62,000, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
15-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
17-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Kapellen · 1 establishment unit since 2007
Ground area
6,031 m²
Parcel 11023B0038/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
Kalmthoutsesteenweg 44, 2950 Kapellen
since 20072.167.515.775
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11023B0038/00A000 | Flanders | 6,031 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKapellen (Antw.)2.167.515.775
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Of 1,335 companies in sector 50400 we hold annual accounts for 394. 326 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-11-2007
Fiscal year end30-06
Activities, NACEBEL 2025
50400Inland freight water transport
E-invoicing
Not found in the Peppol register
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.