SEPIMAC
ActiveSummary
SEPIMAC has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26,492 and a net result of -€8,755. Equity is shrinking by ~16.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 28% of 11508 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▼-3
Solvency37▼-4
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.61 against 0.41 in 2024; short-term debt: 69.7% and cash: 12% of total assets), and 87.6% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
Wholesale trade (NACE 46)
about 21% more 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 2025Solvency, return and age of the figures
Solvency
12.4%
Return on assets
-4.1%
Age of the figures
9 mo
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 -€8,755
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 03-06-2026, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
58 d early
2024
34 d early
2023
on the day
2022
25 d late
2021
9 d late
2020
20 d late
2019
19 d late
← 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 3 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 1 August (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€26,492▼ 37.1%
2024 · €42,137
Total assets
€214,325▼ 19.4%
2024 · €265,866
Net result
-€8,755▼ 189%
2024 · -€3,029
Working capital
-€57,976▲ 43.7%
2024 · -€103,038
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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-€26,006▼ 2.1%-€20,847▲ 19.8%-€18,594▲ 10.8%-€9,493▲ 48.9%-€17,332▼ 82.6%
Net result-€8,017below the sector's middle half▲ 1.5%-€8,282below the sector's middle half▼ 3.3%-€8,228below the sector's middle half▲ 0.7%-€3,029within the sector's middle half▲ 63.2%-€8,755below the sector's middle half▼ 189%
Equity€101,854within the sector's middle half▼ 11.5%€85,023within the sector's middle half▼ 16.5%€69,905within the sector's middle half▼ 17.8%€42,137within the sector's middle half▼ 39.7%€26,492within the sector's middle half▼ 37.1%
Total assets€357,504within the sector's middle half▼ 24.0%€312,617within the sector's middle half▼ 12.6%€223,651within the sector's middle half▼ 28.5%€265,866within the sector's middle half▲ 18.9%€214,325within the sector's middle half▼ 19.4%
Debt€240,784▼ 28.2%€214,623▼ 10.9%€144,329▼ 32.8%€216,177▲ 49.8%€184,022▼ 14.9%
Working capital-€134,989below the sector's middle half▲ 13.5%-€148,827below the sector's middle half▼ 10.3%-€106,914below the sector's middle half▲ 28.2%-€103,038below the sector's middle half▲ 3.6%-€57,976below the sector's middle half▲ 43.7%
Solvency28.5%within the sector's middle half▲ 4.0pp27.2%within the sector's middle half▼ 1.3pp31.3%within the sector's middle half▲ 4.1pp15.8%within the sector's middle half▼ 15.4pp12.4%within the sector's middle half▼ 3.5pp
Current ratio0.22below the sector's middle half▼ 0.030.25below the sector's middle half▲ 0.030.26below the sector's middle half▲ 0.010.41below the sector's middle half▲ 0.150.61below the sector's middle half▲ 0.21
Return on assets (ROA)-2.2%below the sector's middle half▼ 0.5pp-2.6%below the sector's middle half▼ 0.4pp-3.7%below the sector's middle half▼ 1.0pp-1.1%within the sector's middle half▲ 2.5pp-4.1%below the sector's middle half▼ 2.9pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
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 €17,332 in 2025 against €9,493 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €214,325
Fixed assets
€122,945 ▼ 37.1%
Current assets
€91,380 ▲ 29.7%
Equity and liabilities €214,325
Equity
€26,492 ▼ 37.1%
Provisions
€3,810 ▼ 49.5%
Debt
€184,022 ▼ 14.9%
Debt's share of the balance-sheet total rises from 81.3% to 85.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€55,117▼
2024 · €64,350
Cash flow
€63,694▼
2024 · €70,814
Quick ratio
0.60▲
2024 · 0.40
Debt to equity
6.95▲
2024 · 5.13
ROE
-33.0%▼
2024 · -7.2%
Interest coverage
26.83▼
2024 · 28.06
Debt ≤ 1 year
€149,356▼
2024 · €173,511
Debt > 1 year
€34,667▼
2024 · €42,667
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,450 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.5%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 2,450 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €104,286 | €77,838 | €75,018 | €73,843 | €72,448 | ▼ 1.9% |
| Other operating charges640/8 | €928 | €922 | €2,648 | €769 | €863 | ▲ 12.2% |
| Gross operating margin9900 | €79,208 | €57,912 | €59,071 | €65,120 | €55,980 | ▼ 14.0% |
| Operating profit (loss)9901 | -€26,006 | -€20,847 | -€18,594 | -€9,493 | -€17,332 | ▼ 82.6% |
| Financial income75/76B | €16,751 | €10,866 | €7,878 | €6,891 | €6,890 | = |
| Recurring financial income75 | €16,751 | €10,866 | €7,878 | €6,891 | €6,890 | = |
| Financial charges65/66B | €2,315 | €1,854 | €1,066 | €2,293 | €2,054 | ▼ 10.4% |
| Recurring financial charges65 | €2,315 | €1,854 | €1,066 | €2,293 | €2,054 | ▼ 10.4% |
| Profit (loss) for the period before taxes9903 | -€11,570 | -€11,836 | -€11,782 | -€4,895 | -€12,496 | ▼ 155% |
| Transfer from deferred taxes780 | €3,554 | €3,554 | €3,554 | €3,741 | €3,741 | = |
| Transfer to deferred taxes680 | - | - | - | €1,875 | - | - |
| Profit (loss) for the period9904 | -€8,017 | -€8,282 | -€8,228 | -€3,029 | -€8,755 | ▼ 189% |
| Transfer from tax-exempt reserves789 | €8,292 | €8,292 | €8,292 | €8,854 | €8,854 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €5,625 | - | - |
| Profit (loss) for the period to be appropriated9905 | €275 | €9 | €64 | €200 | €100 | ▼ 50.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €357,504 | €312,617 | €223,651 | €265,866 | €214,325 | ▼ 19.4% |
| Fixed assets21/28 | €319,214 | €262,924 | €186,236 | €195,393 | €122,945 | ▼ 37.1% |
| Tangible fixed assets22/27 | €319,214 | €262,924 | €186,236 | €195,393 | €122,945 | ▼ 37.1% |
| Plant, machinery and equipment23 | €149,670 | €134,779 | €92,536 | €133,817 | €91,296 | ▼ 31.8% |
| Furniture and vehicles24 | €169,545 | €128,145 | €93,700 | €61,576 | €31,648 | ▼ 48.6% |
| Current assets29/58 | €38,290 | €49,693 | €37,415 | €70,473 | €91,380 | ▲ 29.7% |
| Stocks and contracts in progress3 | €2,077 | €1,923 | €1,537 | €1,304 | €1,269 | ▼ 2.7% |
| Stocks30/36 | €2,077 | €1,923 | €1,537 | €1,304 | €1,269 | ▼ 2.7% |
| Amounts receivable within one year40/41 | €26,473 | €43,433 | €26,322 | €49,033 | €63,286 | ▲ 29.1% |
| Trade receivables40 | €8,625 | €25,126 | €8,486 | €49,033 | €63,286 | ▲ 29.1% |
| Other amounts receivable41 | €17,848 | €18,307 | €17,836 | - | - | - |
| Cash at bank and in hand54/58 | €8,750 | €3,335 | €8,542 | €19,104 | €25,738 | ▲ 34.7% |
| Deferred charges and accrued income490/1 | €990 | €1,002 | €1,014 | €1,032 | €1,087 | ▲ 5.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €357,504 | €312,617 | €223,651 | €265,866 | €214,325 | ▼ 19.4% |
| Equity10/15 | €101,854 | €85,023 | €69,905 | €42,137 | €26,492 | ▼ 37.1% |
| Contributions10/11 | €26,800 | €26,800 | €26,800 | €8,952 | €8,952 | = |
| Reserves13 | €42,896 | €32,946 | €24,654 | €21,424 | €12,570 | ▼ 41.3% |
| Non-distributable reserves130/1 | €2,680 | €2,680 | €2,680 | - | - | - |
| Reserves not available under the articles1311 | €2,680 | €2,680 | €2,680 | - | - | - |
| Tax-exempt reserves132 | €40,216 | €30,266 | €21,974 | €18,744 | €9,890 | ▼ 47.2% |
| Distributable reserves133 | - | - | - | €2,680 | €2,680 | = |
| Profit (loss) carried forward14 | €4,598 | €4,607 | €4,671 | €4,871 | €4,971 | ▲ 2.0% |
| Investment grants15 | €27,560 | €20,670 | €13,780 | €6,890 | - | - |
| Provisions and deferred taxes16 | €14,866 | €12,971 | €9,417 | €7,551 | €3,810 | ▼ 49.5% |
| Deferred taxes168 | €14,866 | €12,971 | €9,417 | €7,551 | €3,810 | ▼ 49.5% |
| Amounts payable17/49 | €240,784 | €214,623 | €144,329 | €216,177 | €184,022 | ▼ 14.9% |
| Amounts payable after more than one year17 | €62,542 | €15,116 | - | €42,667 | €34,667 | ▼ 18.8% |
| Financial debts170/4 | €62,542 | €15,116 | - | €42,667 | €34,667 | ▼ 18.8% |
| Amounts payable within one year42/48 | €173,279 | €198,519 | €144,329 | €173,511 | €149,356 | ▼ 13.9% |
| Current portion of amounts payable after more than one year42 | €50,378 | €47,626 | €15,116 | €8,000 | €8,000 | = |
| Financial debts43 | - | - | - | €24 | - | - |
| Credit institutions430/8 | - | - | - | €24 | - | - |
| Trade debts44 | €65,854 | €99,242 | €74,774 | €108,049 | €88,841 | ▼ 17.8% |
| Suppliers440/4 | €65,854 | €99,242 | €74,774 | €108,049 | €88,841 | ▼ 17.8% |
| Taxes, remuneration and social security45 | €6,183 | - | €2,745 | €5,972 | €907 | ▼ 84.8% |
| Taxes450/3 | €6,183 | - | €2,745 | €5,972 | €907 | ▼ 84.8% |
| Other amounts payable47/48 | €50,864 | €51,652 | €51,694 | €51,465 | €51,608 | ▲ 0.3% |
| Accrued charges and deferred income492/3 | €4,963 | €988 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,017 | -€8,282 | -€8,228 | -€3,029 | -€8,755 | ▼ 189% |
| + Depreciation and write-downs630 | €104,286 | €77,838 | €75,018 | €73,843 | €72,448 | ▼ 1.9% |
| Operating cash flow (approximation) | €96,269 | €69,555 | €66,789 | €70,814 | €63,694 | ▼ 10.1% |
| Investment in fixed assets (approximation) | - | -€21,548 | €1,671 | -€83,000 | €0 | ▲ 100% |
| Change in cash | - | -€5,415 | €5,208 | €10,562 | €6,634 | ▼ 37.2% |
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
03-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial
Weakest financial yearnet -€11,669
Net result drops to -€11,669, the lowest in the series; recovery starts the following year.
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Hannut · 1 establishment unit since 1995
Ground area
1.0 ha
Building footprint
425 m²
Volume, LiDAR
2,710 m³
2 parcels, Wallonia · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
LA SOCIETE
since 19952.074.445.562
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64060B0064/00G000 | Wallonia | 7,633 m² | 1 · 297 m² | 11.0 m · 3 fl. |
| 64036B0260/00E000 | Wallonia | 2,616 m² | 1 · 129 m² | 5.8 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,076 companies in sector 46140 we hold annual accounts for 646. 380 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded07-12-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46140Agents in the wholesale of industrial machinery, ships and aircraft
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456623144
Registered
11-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.