Summary
SEPMIEN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €328,337 and a net result of €62,398. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 48% of 5651 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
17 d late
2024
19 d late
2023
28 d late
2022
31 d early
2021
4 d early
2020
16 d late
2019
8 d early
← 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 5 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 17 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€328,337▲ 23.5%
2024 · €265,939
Net result
€62,398▲ 374%
2024 · €13,154
Total assets
€667,630▲ 12.2%
2024 · €594,999
Solvency
49.2%▲ 4.5pp
2024 · 44.7%
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€35,830▲ 12.7%€14,002▼ 60.9%€175,221▲ 1,151%€32,441▼ 81.5%€101,124▲ 212%
Net result€18,216within the sector's middle half▲ 24.0%€5,128within the sector's middle half▼ 71.8%€129,065above the sector's middle half▲ 2,417%€13,154within the sector's middle half▼ 89.8%€62,398within the sector's middle half▲ 374%
Equity€118,592within the sector's middle half▲ 18.1%€123,720within the sector's middle half▲ 4.3%€252,786within the sector's middle half▲ 104%€265,939within the sector's middle half▲ 5.2%€328,337within the sector's middle half▲ 23.5%
Total assets€370,060within the sector's middle half▼ 6.1%€376,749within the sector's middle half▲ 1.8%€628,070within the sector's middle half▲ 66.7%€594,999below the sector's middle half▼ 5.3%€667,630within the sector's middle half▲ 12.2%
Debt€251,468▼ 14.4%€253,029▲ 0.6%€343,064▲ 35.6%€297,842▼ 13.2%€309,077▲ 3.8%
Working capital-€56,652below the sector's middle half▼ 1.0%-€74,405below the sector's middle half▼ 31.3%-€59,534below the sector's middle half▲ 20.0%-€74,859within the sector's middle half▼ 25.7%-€4,687within the sector's middle half▲ 93.7%
Solvency32.0%within the sector's middle half▲ 6.6pp32.8%within the sector's middle half▲ 0.8pp40.2%within the sector's middle half▲ 7.4pp44.7%within the sector's middle half▲ 4.4pp49.2%within the sector's middle half▲ 4.5pp
Current ratio0.33below the sector's middle half▼ 0.050.16below the sector's middle half▼ 0.180.34below the sector's middle half▲ 0.190.22below the sector's middle half▼ 0.130.96within the sector's middle half▲ 0.74
Return on assets (ROA)4.9%within the sector's middle half▲ 1.2pp1.4%within the sector's middle half▼ 3.6pp20.5%within the sector's middle half▲ 19.2pp2.2%within the sector's middle half▼ 18.3pp9.3%within the sector's middle half▲ 7.1pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2024 Net result -90% on 2023. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 212% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €667,630
Fixed assets
€551,740 ▼ 3.9%
Current assets
€115,891 ▲ 461%
Equity and liabilities €667,630
Equity
€328,337 ▲ 23.5%
Provisions
€30,216 ▼ 3.2%
Debt
€309,077 ▲ 3.8%
Debt's share of the balance-sheet total falls from 50.1% to 46.3%. Equity and debt are higher.
Key figures and ratios
ROE
19.0%▲
2024 · 4.9%
Debt ≤ 1 year
€120,578▲
2024 · €95,524
Debt > 1 year
€186,091▼
2024 · €199,156
Income taxes
€25,574▲
2024 · €6,800
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €165,361 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,168 | €24,996 | €27,488 | €22,595 | €22,595 | = |
| Other operating charges640/8 | €6,665 | €6,107 | €6,039 | €5,458 | €6,537 | ▲ 19.8% |
| Non-recurring operating charges66A | - | €12,253 | €0 | - | - | - |
| Gross operating margin9900 | €59,662 | €57,358 | €208,748 | €60,493 | €130,256 | ▲ 115% |
| Operating profit (loss)9901 | €35,830 | €14,002 | €175,221 | €32,441 | €101,124 | ▲ 212% |
| Financial income75/76B | €611 | - | €376 | €451 | €653 | ▲ 44.8% |
| Recurring financial income75 | €611 | - | €376 | €451 | €653 | ▲ 44.8% |
| Financial charges65/66B | €7,668 | €7,918 | €14,013 | €13,940 | €14,807 | ▲ 6.2% |
| Recurring financial charges65 | €7,668 | €7,918 | €14,013 | €13,940 | €14,807 | ▲ 6.2% |
| Profit (loss) for the period before taxes9903 | €28,773 | €6,083 | €161,584 | €18,952 | €86,970 | ▲ 359% |
| Transfer from deferred taxes780 | - | - | €852 | €1,002 | €1,002 | = |
| Transfer to deferred taxes680 | - | - | €33,072 | €0 | - | - |
| Income taxes67/77 | €10,556 | €955 | €299 | €6,800 | €25,574 | ▲ 276% |
| Profit (loss) for the period9904 | €18,216 | €5,128 | €129,065 | €13,154 | €62,398 | ▲ 374% |
| Transfer from tax-exempt reserves789 | €6,547 | - | €3,410 | €4,007 | €4,007 | = |
| Transfer to tax-exempt reserves689 | - | - | €132,289 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €24,763 | €5,128 | €186 | €17,161 | €66,405 | ▲ 287% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €370,060 | €376,749 | €628,070 | €594,999 | €667,630 | ▲ 12.2% |
| Fixed assets21/28 | €341,691 | €362,981 | €596,930 | €574,335 | €551,740 | ▼ 3.9% |
| Tangible fixed assets22/27 | €341,691 | €362,981 | €596,930 | €574,335 | €551,740 | ▼ 3.9% |
| Land and buildings22 | €341,691 | €362,981 | €590,652 | €568,743 | €546,835 | ▼ 3.9% |
| Plant, machinery and equipment23 | - | - | €6,278 | €5,591 | €4,905 | ▼ 12.3% |
| Current assets29/58 | €28,369 | €13,768 | €31,140 | €20,665 | €115,891 | ▲ 461% |
| Amounts receivable after more than one year29 | €15,000 | - | - | - | - | - |
| Other amounts receivable291 | €15,000 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €14 | €5,060 | €7,742 | €17,607 | €89,316 | ▲ 407% |
| Trade receivables40 | - | - | €0 | - | - | - |
| Other amounts receivable41 | €14 | €5,060 | €7,742 | €17,607 | €89,316 | ▲ 407% |
| Cash at bank and in hand54/58 | €9,688 | €5,116 | €17,718 | €1,449 | €22,268 | ▲ 1,437% |
| Deferred charges and accrued income490/1 | €3,667 | €3,593 | €5,681 | €1,609 | €4,306 | ▲ 168% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €370,060 | €376,749 | €628,070 | €594,999 | €667,630 | ▲ 12.2% |
| Equity10/15 | €118,592 | €123,720 | €252,786 | €265,939 | €328,337 | ▲ 23.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €99,992 | €105,120 | €234,186 | €247,339 | €309,737 | ▲ 25.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | €128,879 | €124,872 | €120,864 | ▼ 3.2% |
| Distributable reserves133 | €98,132 | €103,260 | €105,307 | €122,467 | €188,872 | ▲ 54.2% |
| Provisions and deferred taxes16 | - | - | €32,220 | €31,218 | €30,216 | ▼ 3.2% |
| Deferred taxes168 | - | - | €32,220 | €31,218 | €30,216 | ▼ 3.2% |
| Amounts payable17/49 | €251,468 | €253,029 | €343,064 | €297,842 | €309,077 | ▲ 3.8% |
| Amounts payable after more than one year17 | €166,448 | €164,812 | €250,382 | €199,156 | €186,091 | ▼ 6.6% |
| Financial debts170/4 | €166,448 | €164,812 | €250,382 | €199,156 | €186,091 | ▼ 6.6% |
| Amounts payable within one year42/48 | €85,020 | €88,173 | €90,674 | €95,524 | €120,578 | ▲ 26.2% |
| Current portion of amounts payable after more than one year42 | €37,441 | €40,325 | €51,036 | €55,092 | €66,162 | ▲ 20.1% |
| Financial debts43 | €147 | €2,312 | €0 | - | - | - |
| Credit institutions430/8 | €147 | €2,312 | €0 | - | - | - |
| Trade debts44 | €9,427 | €2,874 | €5,662 | €7,677 | €18,023 | ▲ 135% |
| Suppliers440/4 | €9,427 | €2,874 | €5,662 | €7,677 | €18,023 | ▲ 135% |
| Taxes, remuneration and social security45 | €14,812 | €7,297 | €14,508 | €7,839 | €18,302 | ▲ 133% |
| Taxes450/3 | €14,812 | €7,297 | €6,408 | €7,839 | €18,302 | ▲ 133% |
| Remuneration and social security454/9 | - | - | €8,100 | €0 | - | - |
| Other amounts payable47/48 | €23,194 | €35,365 | €19,469 | €24,916 | €18,092 | ▼ 27.4% |
| Accrued charges and deferred income492/3 | - | €44 | €2,008 | €3,162 | €2,408 | ▼ 23.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,216 | €5,128 | €129,065 | €13,154 | €62,398 | ▲ 374% |
| + Depreciation and write-downs630 | €17,168 | €24,996 | €27,488 | €22,595 | €22,595 | = |
| Operating cash flow (approximation) | €35,385 | €30,125 | €156,553 | €35,748 | €84,993 | ▲ 138% |
| Investment in fixed assets (approximation) | - | -€46,286 | -€261,437 | €0 | €0 | - |
| Change in cash | - | -€4,572 | €12,602 | -€16,269 | €20,819 | ▲ 228% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 17 days late
2025
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 19 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Highest result since 2018net €129,065 ▲2,417%
Operating result €175,221, net result €129,065, both a record.
31-12
Financial
Equity above €200,000Eq €252,786 ▲104%
6 profitable years in a row build equity to €252,786.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €5,128 ▼71.8%
Net result drops to €5,128, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 16 days late
2020
31-12
Financial
Equity above €100,000Eq €100,376 ▲17.1%
3 profitable years in a row build equity to €100,376.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
05-07
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.
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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2010
Ground area
646 m²
Building footprint
157 m²
Volume, LiDAR
939 m³
Parcel 34016C0294/00C003, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Sepmien
since 20102.186.758.595
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34016C0294/00C003 | Flanders | 646 m² | 1 · 157 m² | 10.1 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 24,721 companies in this sector we hold annual accounts for 19,804. 13,785 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded12-03-2010
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
steven@vandenbussche-bvba.beKortrijk
Phone
056/ 35 03 83Kortrijk
E-invoicing
Reachable via Peppol
Peppol ID
0208:0823984217
Also
9925:BE0823984217
Registered
23-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.