SEPIA Digital
ActiveSEPIA Digital has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €332k and a net result of €-920. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 64% of 4852 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
79
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability69▲+56
Solvency83▲+11
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.88 against 2.94 in 2024; short-term debt: 33.7% and cash: 50.2% of total assets), and 41.7% of the assets are financed with debt.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-920
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
8 d early
2023
5 d early
2022
26 d early
2021
39 d early
2020
122 d early
2019
15 d early
← 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-920▲ 97.2%
2024 · €-33k
2018: €33k
2019: €52
2020: €-112k
2021: €-75k
2022: €-47k
2023: €69k
2024: €-33k
2018 → 2025
Working capital
€362k▼ 20.4%
2024 · €455k
2018: €203k
2019: €-108k
2020: €-88k
2021: €168k
2022: €142k
2023: €442k
2024: €455k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€344k-€297k▼ 13.8%€366k▲ 23.3%€333k▼ 8.9%€332k▼ 0.3%
Operating result€-63k-€-41k▲ 35.5%€71k€-30k€372
Net result€-75k-€-47k▲ 36.8%€69k€-33k€-920▲ 97.2%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €372 after a loss of €30k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €569k
Fixed assets
€15k▼ 36.5%
Current assets
€554k▼ 19.6%
Equity and liabilities €570k
Equity
€332k▼ 0.3%
Debt
€237k▼ 37.7%
The debt ratio falls from 53.3% to 41.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€13k▲
2024 · €-7k
Cash flow
€12k▲
2024 · €-10k
Solvency
58.3%▲
2024 · 46.7%
Current ratio
2.88▼
2024 · 2.94
Quick ratio
2.64=
2024 · 2.64
Debt / equity
0.71▼
2024 · 1.14
ROE
-0.3%▲
2024 · -9.8%
ROA
-0.2%▲
2024 · -4.6%
Interest coverage
14.87▲
2024 · -3.15
Debt
€237k▼
2024 · €381k
Debt ≤ 1 year
€192k▼
2024 · €234k
Income taxes
€399▲
2024 · €346
Staff costs
€356k▲
2024 · €332k
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€714k€570k▼
Formation expenses20€2k€873▼
Fixed assets21/28€24k€15k▼
Intangible fixed assets21€9k€1k▼
Tangible fixed assets22/27€14k€13k▼
Plant, machinery and equipment23€5k€6k▲
Furniture and vehicles24€956€550▼
Other tangible fixed assets26€8k€7k▼
Financial fixed assets28€290€290=
Current assets29/58€689k€554k▼
Stocks and contracts in progress3€70k€46k▼
Stocks30/36€70k€46k▼
Amounts receivable within one year40/41€313k€164k▼
Trade receivables40€313k€162k▼
Other amounts receivable41€154€2k▲
Cash at bank and in hand54/58€239k€286k▲
Deferred charges and accrued income490/1€67k€58k▼
Equity and liabilities
Total equity and liabilities10/49€714k€570k▼
Equity10/15€333k€332k▼
Contributions10/11€466k€466k=
Capital10€466k€466k=
Issued capital100€466k€466k=
Reserves13€15k€15k=
Non-distributable reserves130/1€4k€4k=
Legal reserve130€4k€4k=
Tax-exempt reserves132€10k€10k=
Profit (loss) carried forward14€-147k€-148k▼
Amounts payable17/49€381k€237k▼
Amounts payable within one year42/48€234k€192k▼
Trade debts44€87k€96k▲
Suppliers440/4€87k€96k▲
Taxes, remuneration and social security45€113k€63k▼
Taxes450/3€41k€12k▼
Remuneration and social security454/9€72k€50k▼
Other amounts payable47/48€34k€34k▲
Accrued charges and deferred income492/3€147k€45k▼
Income statement
Code20242025
Remuneration, social security and pensions62€332k€356k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€13k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€8k€-3k▼
Other operating charges640/8€1k€942▼
Non-recurring operating charges66A€47k€29k▼
Gross operating margin9900€381k€396k▲
Operating profit (loss)9901€-30k€372▲
Financial income75/76B€108-
Recurring financial income75€108-
Financial charges65/66B€2k€893▼
Recurring financial charges65€2k€893▼
Profit (loss) for the period before taxes9903€-32k€-521▲
Income taxes67/77€346€399▲
Profit (loss) for the period9904€-33k€-920▲
Profit (loss) for the period to be appropriated9905€-33k€-920▲
Appropriation of the result
Profit (loss) to be appropriated9906€-147k€-148k▼
Profit (loss) brought forward from the previous period14P€-115k€-147k▼
Social balance
Average headcount (FTE)90874.04.4▲
The notes to these accounts (9 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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €69k
Net result €69k after 3 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 2.99
Current ratio from 1.48 to 2.99; short-term debt falls from €297k to €222k.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €200kEq €344k ▲399%
Equity rises from €69k to €344k.
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-112k ▼214296%
Net result drops to €-112k, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-07
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.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
31-12-2025
Thomas Guy Alexandre Mortier: Resigned as Director
30-01-2025
Brigitte Andreolis ep. Clavier: Resigned as Director
01-04-2021
GDB Consulting BV: Resigned as Director
01-04-2021
Mesics BV: Resigned as Director
01-04-2021
Mesics BV: Resigned as Managing director
02-01-2020
Bärbel Buyse: Resigned as Managing director
02-01-2020
Guido Vandenabeele: Resigned as Managing director
30-09-2014
De GROOT Abraham: Resigned as Manager
30-09-2014
Guy van Ginderen: Resigned as Manager
Location & real-estate footprint
Registered office, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2014
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.
Doornpark(BEV) 579120 Beveren-Kruibeke-ZwijndrechtGround area
2.0 ha
Building footprint
9,406 m²
Volume, LiDAR
75,928 m³
Parcel 46503C1235/00C000, Flanders · tallest building 15.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Pixel Inspiration Benelux
since 20142.236.145.948
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46503C1235/00C000 | Flanders | 2.0 ha | 1 · 9,406 m² | 15.3 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 190 EUR awarded · 190 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 78 EUR | 78 EUR |
| 2022 | 1 | 112 EUR | 112 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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STOCKLOOTS
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ICONNECT
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SODEVCO
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Ternat · Eq €333k
Of 2,124 companies in sector 46500 we hold annual accounts for 1,404. 1,065 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-09-2014
Fiscal year end31-12
Activities, NACEBEL
46500Wholesale of information and communication equipment
46520Wholesale trade
73110Advertising agencies
46499Wholesale of other household goods
62020IT consultancy
62200Computer consultancy and computer facilities management
73200Market research and public opinion polling
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.