SEM Properties
ActiveSEM Properties has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-435k) and a net result of €-293k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 13977 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
36
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-9
Solvency0▼-15
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 27.36 against 30.62 in 2024; short-term debt: 3.4% and cash: 0.5% of total assets), but equity is negative.
Credit advice for your own amount and term
Signals
Seven 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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2025Solvency, return and age of the figures
Solvency
-43.8%
Return on assets
-29.5%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-435k
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 22-07-2026, 9 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
9 d early
2024
61 d late
2023
62 d late
2022
37 d late
2021
31 d late
2020
4 d early
2019
56 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-435k▼ 206%
2024 · €-142k
2019: €15k
2020: €13k
2021: €12k
2022: €-2k
2023: €-32k
2024: €-142k
2019 → 2025
Total assets
€993k▼ 32.8%
2024 · €1.48M
2019: €16k
2020: €13k
2021: €12k
2022: €174k
2023: €1.16M
2024: €1.48M
2019 → 2025
Net result
€-293k▼ 167%
2024 · €-110k
2019: €-4k
2020: €-2k
2021: €-1k
2022: €-5k
2023: €-30k
2024: €-110k
2019 → 2025
Working capital
€902k▼ 33.4%
2024 · €1.35M
2019: €15k
2020: €13k
2021: €12k
2022: €174k
2023: €1.03M
2024: €1.35M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€12k-€-2k€-32k▼ 1,431%€-142k▼ 338%€-435k▼ 206%
Operating result€-1k-€-3k▼ 148%€-16k▼ 483%€-47k▼ 192%€-200k▼ 322%
Net result€-1k-€-5k▼ 316%€-30k▼ 524%€-110k▼ 261%€-293k▼ 167%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €200k in 2025 against €47k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €993k
Fixed assets
€57k▼ 27.1%
Current assets
€936k▼ 33.1%
Key figures and ratios
EBITDA
€-179k▼
2024 · €-26k
Cash flow
€-272k▼
2024 · €-88k
Solvency
-43.8%▼
2024 · -9.6%
Current ratio
27.36▼
2024 · 30.62
Quick ratio
0.17▲
2024 · 0.06
Debt / equity
-3.28▲
2024 · -11.39
ROA
-29.5%▼
2024 · -7.4%
Interest coverage
-1.93▼
2024 · -0.41
Debt
€1.43M▼
2024 · €1.62M
Debt ≤ 1 year
€34k▼
2024 · €46k
Debt > 1 year
€1.24M▼
2024 · €1.49M
Income taxes
€136▼
2024 · €149
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€1.48M€993k▼
Fixed assets21/28€78k€57k▼
Tangible fixed assets22/27€78k€57k▼
Furniture and vehicles24€78k€57k▼
Current assets29/58€1.40M€936k▼
Stocks and contracts in progress3€1.40M€930k▼
Stocks30/36€1.40M€930k▼
Cash at bank and in hand54/58€1k€5k▲
Deferred charges and accrued income490/1€2k€339▼
Equity and liabilities
Total equity and liabilities10/49€1.48M€993k▼
Equity10/15€-142k€-435k▼
Contributions10/11€10k€10k=
Profit (loss) carried forward14€-152k€-445k▼
Amounts payable17/49€1.62M€1.43M▼
Amounts payable after more than one year17€1.49M€1.24M▼
Other amounts payable178/9€1.49M€1.24M▼
Amounts payable within one year42/48€46k€34k▼
Trade debts44€45k€34k▼
Suppliers440/4€45k€34k▼
Taxes, remuneration and social security45€188€136▼
Taxes450/3€188€136▼
Other amounts payable47/48€51-
Accrued charges and deferred income492/3€79k€155k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€21k=
Other operating charges640/8€4k€2k▼
Non-recurring operating charges66A-€94k
Gross operating margin9900€-23k€-83k▼
Operating profit (loss)9901€-47k€-200k▼
Financial income75/76B€1k€71▼
Recurring financial income75€1k€71▼
Financial charges65/66B€63k€93k▲
Recurring financial charges65€63k€93k▲
Profit (loss) for the period before taxes9903€-110k€-293k▼
Income taxes67/77€149€136▼
Profit (loss) for the period9904€-110k€-293k▼
Profit (loss) for the period to be appropriated9905€-110k€-293k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-152k€-445k▼
Profit (loss) brought forward from the previous period14P€-42k€-152k▼
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-293k
Net result drops to €-293k, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
01-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 62 days late
2023
06-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 37 days late
2022
31-12
Financial
Liquidity times 59current ratio 1280.42
Current ratio from 21.54 to 1280.42; short-term debt falls from €573 to €136.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 34.87
Current ratio from 16.13 to 34.87; short-term debt falls from €988 to €382.
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Kortrijk · 1 establishment unit since 2018
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.
Walle(Kor) 186 A8500 KortrijkGround area
1,914 m²
Building footprint
399 m²
Volume, LiDAR
2,864 m³
2 parcels, Flanders · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SEM Properties
since 20182.277.785.474
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081C0002/00C003 | Flanders | 1,284 m² | 1 · 259 m² | 10.4 m · 2 fl. |
| 34022E0306/00D002 | Flanders | 630 m² | 1 · 140 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 509 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 0 EUR | 509 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,697 companies in sector 68121 we hold annual accounts for 7,381. 3,315 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-06-2018
Fiscal year end31-12
Activities, NACEBEL
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.