SEMAFORCE
ActiveSummary
SEMAFORCE has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €159k and a net result of €47k. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 92% of 17090 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+18
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 14.34 against 12.83 in 2024; short-term debt: 6.5% and cash: 66.5% of total assets), and 6.5% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% 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
93.5%
Return on assets
27.9%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €159k
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
73 d early
2023
65 d late
2022
59 d late
2021
59 d late
2020
86 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€159k▲ 15.8%
2024 · €137k
2018: €128k
2019: €136k▲ +5.9% vs 2018
2020: €145k▲ +7.1% vs 2019
2021: €140k▼ -3.4% vs 2020
2022: €133k▼ -5.1% vs 2021
2023: €122k▼ -8.3% vs 2022lowest in 8 years
2024: €137k▲ +12.4% vs 2023
2025: €159k▲ +15.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€170k▲ 15.0%
2024 · €148k
2018: €149k
2019: €159k▲ +6.3% vs 2018
2020: €151k▼ -4.7% vs 2019
2021: €151k▼ -0.4% vs 2020
2022: €156k▲ +3.6% vs 2021
2023: €146k▼ -6.2% vs 2022lowest in 8 years
2024: €148k▲ +0.8% vs 2023
2025: €170k▲ +15.0% vs 2024highest in 8 years
2018 → 2025
Net result
€47k▲ 214%
2024 · €15k
2018: €18k
2019: €8k▼ -58.4% vs 2018
2020: €10k▲ +27.9% vs 2019
2021: €987▼ -89.8% vs 2020lowest in 8 years
2022: €15k▲ +1417% vs 2021
2023: €11k▼ -23.6% vs 2022
2024: €15k▲ +31.8% vs 2023
2025: €47k▲ +214% vs 2024highest in 8 years
2018 → 2025
Working capital
€146k▲ 18.2%
2024 · €124k
2018: €111k
2019: €120k▲ +8.3% vs 2018
2020: €129k▲ +7.6% vs 2019
2021: €127k▼ -1.8% vs 2020
2022: €117k▼ -8.0% vs 2021
2023: €105k▼ -9.7% vs 2022lowest in 8 years
2024: €124k▲ +17.4% vs 2023
2025: €146k▲ +18.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€140k-€133k▼ 5.1%€122k▼ 8.3%€137k▲ 12.4%€159k▲ 15.8%
2021: €140k
2022: €133k▼ -5.1% vs 2021
2023: €122k▼ -8.3% vs 2022lowest in 5 years
2024: €137k▲ +12.4% vs 2023
2025: €159k▲ +15.8% vs 2024highest in 5 years
Operating result€2k-€22k▲ 1,166%€16k▼ 25.5%€21k▲ 28.3%€65k▲ 215%
2021: €2klowest in 5 years
2022: €22k▲ +1166% vs 2021
2023: €16k▼ -25.5% vs 2022
2024: €21k▲ +28.3% vs 2023
2025: €65k▲ +215% vs 2024highest in 5 years
Net result€987-€15k▲ 1,417%€11k▼ 23.6%€15k▲ 31.8%€47k▲ 214%
2021: €987lowest in 5 years
2022: €15k▲ +1417% vs 2021
2023: €11k▼ -23.6% vs 2022
2024: €15k▲ +31.8% vs 2023
2025: €47k▲ +214% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 215% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €170k
Fixed assets
€12k ▼ 7.1%
Current assets
€157k ▲ 17.2%
Equity and liabilities €170k
Equity
€159k ▲ 15.8%
Debt
€11k ▲ 4.6%
Debt's share of the balance-sheet total falls from 7.1% to 6.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€68k▲
2024 · €24k
Cash flow
€50k▲
2024 · €18k
Current ratio
14.34▲
2024 · 12.83
Debt to equity
0.07▼
2024 · 0.08
ROE
29.8%▲
2024 · 11.0%
ROA
27.9%▲
2024 · 10.2%
Interest coverage
502.21▲
2024 · 162.05
Debt ≤ 1 year
€11k▲
2024 · €10k
Income taxes
€18k▲
2024 · €6k
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 · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€148k€170k▲
Fixed assets21/28€13k€12k▼
Tangible fixed assets22/27€13k€12k▼
Plant, machinery and equipment23€1k€644▼
Furniture and vehicles24€4k€4k▲
Other tangible fixed assets26€8k€8k▼
Current assets29/58€134k€157k▲
Amounts receivable within one year40/41€26k€36k▲
Trade receivables40€16k€31k▲
Other amounts receivable41€9k€5k▼
Cash at bank and in hand54/58€100k€113k▲
Deferred charges and accrued income490/1€9k€9k▼
Equity and liabilities
Total equity and liabilities10/49€148k€170k▲
Equity10/15€137k€159k▲
Contributions10/11€7k€7k=
Reserves13€130k€151k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€130k€151k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€11k€11k▲
Amounts payable within one year42/48€10k€11k▲
Trade debts44€2k€1k▼
Suppliers440/4€2k€1k▼
Taxes, remuneration and social security45€3k€10k▲
Taxes450/3€3k€10k▲
Remuneration and social security454/9€0-
Other amounts payable47/48€5k€0▼
Accrued charges and deferred income492/3€61€42▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▼
Other operating charges640/8€751€970▲
Gross operating margin9900€25k€69k▲
Operating profit (loss)9901€21k€65k▲
Financial income75/76B€838€678▼
Recurring financial income75€838€678▼
Financial charges65/66B€147€135▼
Recurring financial charges65€147€135▼
Profit (loss) for the period before taxes9903€21k€66k▲
Income taxes67/77€6k€18k▲
Profit (loss) for the period9904€15k€47k▲
Profit (loss) for the period to be appropriated9905€15k€47k▲
Appropriation of the result
Profit (loss) to be appropriated9906€15k€47k▲
Transfer from equity791/2€0€26k▲
Transfer to equity691/2€15k€47k▲
To other reserves6921€15k€47k▲
Profit to be distributed694/7€0€26k▲
Return on contributions (dividend)694€0€26k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1k | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €3k | €3k | €3k | €3k | ▼ 9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €1k | €4k | €5k | €751 | €970 | ▲ 29.3% |
| Gross operating margin9900 | €5k | €28k | €24k | €25k | €69k | ▲ 180% |
| Operating profit (loss)9901 | €2k | €22k | €16k | €21k | €65k | ▲ 215% |
| Financial income75/76B | €697 | €428 | €306 | €838 | €678 | ▼ 19.2% |
| Recurring financial income75 | €697 | €428 | €306 | €838 | €678 | ▼ 19.2% |
| Financial charges65/66B | €602 | €817 | €307 | €147 | €135 | ▼ 8.1% |
| Recurring financial charges65 | €602 | €817 | €307 | €147 | €135 | ▼ 8.1% |
| Profit (loss) for the period before taxes9903 | €2k | €21k | €16k | €21k | €66k | ▲ 208% |
| Income taxes67/77 | €812 | €6k | €5k | €6k | €18k | ▲ 192% |
| Profit (loss) for the period9904 | €987 | €15k | €11k | €15k | €47k | ▲ 214% |
| Transfer from tax-exempt reserves789 | - | €121 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €987 | €15k | €11k | €15k | €47k | ▲ 214% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €151k | €156k | €146k | €148k | €170k | ▲ 15.0% |
| Fixed assets21/28 | €13k | €16k | €17k | €13k | €12k | ▼ 7.1% |
| Tangible fixed assets22/27 | €13k | €16k | €17k | €13k | €12k | ▼ 7.1% |
| Plant, machinery and equipment23 | €973 | €1k | €2k | €1k | €644 | ▼ 36.9% |
| Furniture and vehicles24 | €2k | €5k | €6k | €4k | €4k | ▲ 2.7% |
| Other tangible fixed assets26 | €10k | €10k | €9k | €8k | €8k | ▼ 8.1% |
| Current assets29/58 | €137k | €140k | €130k | €134k | €157k | ▲ 17.2% |
| Amounts receivable within one year40/41 | €35k | €22k | €25k | €26k | €36k | ▲ 38.6% |
| Trade receivables40 | €22k | €17k | €17k | €16k | €31k | ▲ 91.2% |
| Other amounts receivable41 | €13k | €4k | €8k | €9k | €5k | ▼ 52.0% |
| Cash at bank and in hand54/58 | €95k | €108k | €91k | €100k | €113k | ▲ 13.4% |
| Deferred charges and accrued income490/1 | €7k | €10k | €14k | €9k | €9k | ▼ 2.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €151k | €156k | €146k | €148k | €170k | ▲ 15.0% |
| Equity10/15 | €140k | €133k | €122k | €137k | €159k | ▲ 15.8% |
| Contributions10/11 | €7k | €7k | €7k | €7k | €7k | = |
| Reserves13 | €133k | €126k | €115k | €130k | €151k | ▲ 16.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Tax-exempt reserves132 | €121 | €0 | - | - | - | - |
| Distributable reserves133 | €131k | €124k | €113k | €130k | €151k | ▲ 16.7% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €10k | €23k | €24k | €11k | €11k | ▲ 4.6% |
| Amounts payable within one year42/48 | €10k | €23k | €24k | €10k | €11k | ▲ 4.8% |
| Trade debts44 | €4k | €17k | €11k | €2k | €1k | ▼ 39.3% |
| Suppliers440/4 | €4k | €17k | €11k | €2k | €1k | ▼ 39.3% |
| Taxes, remuneration and social security45 | €6k | €3k | €9k | €3k | €10k | ▲ 222% |
| Taxes450/3 | €6k | €3k | €7k | €3k | €10k | ▲ 222% |
| Remuneration and social security454/9 | - | - | €1k | €0 | - | - |
| Other amounts payable47/48 | - | €2k | €4k | €5k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €61 | €42 | ▼ 30.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €987 | €15k | €11k | €15k | €47k | ▲ 214% |
| + Depreciation and write-downs630 | €3k | €3k | €3k | €3k | €3k | ▼ 9.1% |
| Operating cash flow (approximation) | €4k | €18k | €15k | €18k | €50k | ▲ 175% |
| Investment in fixed assets (approximation) | - | €-6k | €-4k | €0 | €-2k | - |
| Change in cash | - | €13k | €-17k | €9k | €13k | ▲ 48.7% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €47k ▲214%
Operating result €65k, net result €47k, both a record.
31-12
Financial
Equity above €150kEq €159k ▲15.8%
8 profitable years in a row build equity to €159k.
19-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity doublescurrent ratio 12.83
Current ratio from 5.33 to 12.83; short-term debt falls from €24k to €10k.
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
2021
31-12
Financial
Weakest financial yearnet €987 ▼89.8%
Net result drops to €987, the lowest in the series; recovery starts the following year.
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 86 days late
2020
31-12
Financial
Liquidity quadruplescurrent ratio 22.36
Current ratio from 6.21 to 22.36; short-term debt falls from €23k to €6k.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
Show earlier events
2019
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 57 days late
2018
17-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 78 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Dilbeek · 1 establishment unit since 1996
Ground area
884 m²
Building footprint
176 m²
Volume, LiDAR
961 m³
Parcel 23352G0174/00X000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Hof ter Mullenstraat 44, 1700 Dilbeek
since 19962.074.936.106
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23352G0174/00X000 | Flanders | 883 m² | 1 · 175 m² | 7.8 m · 2 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 16,879 companies in sector 62100 we hold annual accounts for 8,771. 6,809 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
Founded03-01-1996
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
Scores and ratios are computed by Checked and are not a credit decision.