SEM & Co
ActiveSummary
SEM & Co has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €70k and a net result of €74k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 11% of 15367 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability83▲+11
Solvency36▲+11
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity short (current ratio 0.69 against 0.48 in 2023; short-term debt: 24.4% and cash: 3.4% of total assets), and 89.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
10.7%
Return on assets
11.3%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 15367 sector peers (2024).
NBB · sector comparisonPosition among 15367 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
9 d early
2022
7 d early
2021
31 d early
2020
30 d late
2019
8 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€74k▲ 248%
2023 · €21k
2018: €-22k
2019: €-26k▼ -19.1% vs 2018lowest in 7 years
2020: €3k▲ +114% vs 2019
2021: €25k▲ +607% vs 2020
2022: €-22k▼ -188% vs 2021
2023: €21k▲ +199% vs 2022
2024: €74k▲ +248% vs 2023highest in 7 years
2018 → 2024
Working capital
€-49k▲ 59.9%
2023 · €-123k
2018: €-88k
2019: €-81k▲ +8.0% vs 2018
2020: €-59k▲ +26.9% vs 2019
2021: €-34k▲ +41.7% vs 2020highest in 7 years
2022: €-115k▼ -234% vs 2021
2023: €-123k▼ -7.2% vs 2022lowest in 7 years
2024: €-49k▲ +59.9% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-26k-€-2k▲ 92.3%€-24k▼ 1,089%€-3k▲ 87.1%€70k
2020: €-26klowest in 5 years
2021: €-2k▲ +92.3% vs 2020
2022: €-24k▼ -1089% vs 2021
2023: €-3k▲ +87.1% vs 2022
2024: €70k▲ +2422% vs 2023highest in 5 years
Operating result€17k-€48k▲ 185%€-13k€53k€128k▲ 140%
2020: €17k
2021: €48k▲ +185% vs 2020
2022: €-13k▼ -127% vs 2021lowest in 5 years
2023: €53k▲ +509% vs 2022
2024: €128k▲ +140% vs 2023highest in 5 years
Net result€3k-€25k▲ 607%€-22k€21k€74k▲ 248%
2020: €3k
2021: €25k▲ +607% vs 2020
2022: €-22k▼ -188% vs 2021lowest in 5 years
2023: €21k▲ +199% vs 2022
2024: €74k▲ +248% vs 2023highest in 5 years
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 140% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €657k
Fixed assets
€546k ▼ 12.9%
Current assets
€111k ▼ 3.6%
Equity and liabilities €657k
Equity
€70k
Debt
€586k
Debt finances 89.3% of the balance-sheet total.
Key figures and ratios
EBITDA
€245k▲
2023 · €217k
Cash flow
€191k▲
2023 · €185k
Current ratio
0.69▲
2023 · 0.48
Debt to equity
8.32
ROE
105.4%
ROA
11.3%▲
2023 · 2.9%
Interest coverage
10.34▲
2023 · 9.39
Debt ≤ 1 year
€160k▼
2023 · €238k
Debt > 1 year
€426k▼
2023 · €504k
Income taxes
€31k▲
2023 · €10k
Staff costs
€106k▲
2023 · €100k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 53 lines
Balance sheet
Code20232024
Assets
Total assets20/58€742k€657k▼
Fixed assets21/28€627k€546k▼
Intangible fixed assets21€57k-
Tangible fixed assets22/27€570k€546k▼
Land and buildings22€451k€426k▼
Plant, machinery and equipment23€2k€4k▲
Furniture and vehicles24€96k€102k▲
Other tangible fixed assets26€21k€14k▼
Financial fixed assets28€150€150=
Current assets29/58€115k€111k▼
Amounts receivable within one year40/41€78k€52k▼
Trade receivables40€58k€50k▼
Other amounts receivable41€20k€2k▼
Current investments50/53-€30k
Cash at bank and in hand54/58€35k€22k▼
Deferred charges and accrued income490/1€2k€6k▲
Equity and liabilities
Total equity and liabilities10/49€742k€657k▼
Equity10/15€-3k€70k▲
Contributions10/11€19k€19k=
Reserves13€47k€121k▲
Distributable reserves133€47k€121k▲
Profit (loss) carried forward14€-69k€-69k=
Amounts payable17/49€745k€586k▼
Amounts payable after more than one year17€504k€426k▼
Financial debts170/4€504k€426k▼
Amounts payable within one year42/48€238k€160k▼
Current portion of amounts payable after more than one year42€180k€97k▼
Trade debts44€13k€19k▲
Suppliers440/4€13k€19k▲
Taxes, remuneration and social security45€39k€38k▼
Taxes450/3€37k€35k▼
Remuneration and social security454/9€2k€4k▲
Other amounts payable47/48€5k€5k▼
Accrued charges and deferred income492/3€3k-
Income statement
Code20232024
Remuneration, social security and pensions62€100k€106k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€163k€117k▼
Other operating charges640/8€8k€10k▲
Gross operating margin9900€324k€360k▲
Operating profit (loss)9901€53k€128k▲
Financial income75/76B€1k€2k▲
Recurring financial income75€1k€2k▲
Financial charges65/66B€23k€24k▲
Recurring financial charges65€23k€24k▲
Profit (loss) for the period before taxes9903€31k€106k▲
Income taxes67/77€10k€31k▲
Profit (loss) for the period9904€21k€74k▲
Profit (loss) for the period to be appropriated9905€21k€74k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-47k€5k▲
Profit (loss) brought forward from the previous period14P€-69k€-69k=
Transfer to equity691/2€21k€74k▲
To other reserves6921€21k€74k▲
Profit to be distributed694/7€800€800=
Return on contributions (dividend)694€800€800=
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €97k | €99k | €100k | €106k | ▲ 5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €139k | €120k | €195k | €163k | €117k | ▼ 28.3% |
| Other operating charges640/8 | - | €2k | €3k | €8k | €10k | ▲ 21.2% |
| Gross operating margin9900 | €250k | €267k | €284k | €324k | €360k | ▲ 11.1% |
| Operating profit (loss)9901 | €17k | €48k | €-13k | €53k | €128k | ▲ 140% |
| Financial income75/76B | - | €542 | €2k | €1k | €2k | ▲ 37.8% |
| Recurring financial income75 | €568 | €542 | €2k | €1k | €2k | ▲ 37.8% |
| Financial charges65/66B | - | €11k | €10k | €23k | €24k | ▲ 2.7% |
| Recurring financial charges65 | €13k | €11k | €10k | €23k | €24k | ▲ 2.7% |
| Profit (loss) for the period before taxes9903 | €7k | €38k | €-21k | €31k | €106k | ▲ 237% |
| Income taxes67/77 | €4k | €13k | €405 | €10k | €31k | ▲ 215% |
| Profit (loss) for the period9904 | €3k | €25k | €-22k | €21k | €74k | ▲ 248% |
| Profit (loss) for the period to be appropriated9905 | €3k | €25k | €-22k | €21k | €74k | ▲ 248% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €540k | €445k | €755k | €742k | €657k | ▼ 11.5% |
| Fixed assets21/28 | €416k | €296k | €657k | €627k | €546k | ▼ 12.9% |
| Intangible fixed assets21 | €400k | €286k | €171k | €57k | - | - |
| Tangible fixed assets22/27 | €16k | €10k | €485k | €570k | €546k | ▼ 4.2% |
| Land and buildings22 | - | - | €399k | €451k | €426k | ▼ 5.5% |
| Plant, machinery and equipment23 | - | - | €2k | €2k | €4k | ▲ 136% |
| Furniture and vehicles24 | - | €10k | €57k | €96k | €102k | ▲ 5.9% |
| Other tangible fixed assets26 | - | - | €27k | €21k | €14k | ▼ 31.3% |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €124k | €149k | €99k | €115k | €111k | ▼ 3.6% |
| Amounts receivable within one year40/41 | €32k | €31k | €34k | €78k | €52k | ▼ 32.7% |
| Trade receivables40 | - | €31k | €34k | €58k | €50k | ▼ 12.8% |
| Other amounts receivable41 | - | - | - | €20k | €2k | ▼ 90.0% |
| Current investments50/53 | - | - | - | - | €30k | - |
| Cash at bank and in hand54/58 | €92k | €117k | €62k | €35k | €22k | ▼ 36.3% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €2k | €6k | ▲ 208% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €540k | €445k | €755k | €742k | €657k | ▼ 11.5% |
| Equity10/15 | €-26k | €-2k | €-24k | €-3k | €70k | ▲ 2,422% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €3k | €27k | €27k | €47k | €121k | ▲ 156% |
| Distributable reserves133 | - | €27k | €27k | €47k | €121k | ▲ 156% |
| Profit (loss) carried forward14 | €-47k | €-47k | €-69k | €-69k | €-69k | = |
| Amounts payable17/49 | €566k | €447k | €779k | €745k | €586k | ▼ 21.3% |
| Amounts payable after more than one year17 | €383k | €263k | €566k | €504k | €426k | ▼ 15.5% |
| Financial debts170/4 | - | €263k | €566k | €504k | €426k | ▼ 15.5% |
| Amounts payable within one year42/48 | €183k | €183k | €213k | €238k | €160k | ▼ 32.7% |
| Current portion of amounts payable after more than one year42 | - | €120k | €150k | €180k | €97k | ▼ 46.0% |
| Financial debts43 | - | €23k | - | - | - | - |
| Credit institutions430/8 | - | €23k | - | - | - | - |
| Trade debts44 | €23k | - | €34k | €13k | €19k | ▲ 48.4% |
| Suppliers440/4 | - | - | €34k | €13k | €19k | ▲ 48.4% |
| Taxes, remuneration and social security45 | - | €26k | €24k | €39k | €38k | ▼ 2.5% |
| Taxes450/3 | - | €24k | €23k | €37k | €35k | ▼ 6.2% |
| Remuneration and social security454/9 | - | €2k | €604 | €2k | €4k | ▲ 54.3% |
| Other amounts payable47/48 | - | €14k | €5k | €5k | €5k | ▼ 3.5% |
| Accrued charges and deferred income492/3 | - | - | - | €3k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3k | €25k | €-22k | €21k | €74k | ▲ 248% |
| + Depreciation and write-downs630 | €139k | €120k | €195k | €163k | €117k | ▼ 28.3% |
| Operating cash flow (approximation) | €143k | €145k | €174k | €185k | €191k | ▲ 3.7% |
| Investment in fixed assets (approximation) | - | €0 | €-556k | €-133k | €-36k | ▲ 72.7% |
| Change in cash | - | €25k | €-55k | €-27k | €-13k | ▲ 52.9% |
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
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €74k ▲248%
Operating result €128k, net result €74k, both a record.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-26k
Net result drops to €-26k, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Walhain · 1 establishment unit since 2017
Ground area
1,662 m²
Building footprint
127 m²
Volume, LiDAR
1,053 m³
Parcel 25104C0509/00C000, Wallonia · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue des Ourdons(TSL) 8, 1457 Walhain
since 20172.264.583.774
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25104C0509/00C000 | Wallonia | 1,662 m² | 1 · 127 m² | 10.6 m · 3 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.
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Of 12,173 companies in sector 69201 we hold annual accounts for 7,638. 6,271 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
Founded07-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Scores and ratios are computed by Checked and are not a credit decision.