SEPT03
ActiveSummary
SEPT03 has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €230,932 and a net result of -€17,718. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 29% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability59▼-4
Solvency54=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity short (current ratio 0.18 against 0.2 in 2024; short-term debt: 20.1% and cash: 1% of total assets), and 71.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 20-01-2026, 100 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
100 d early
2024
106 d early
2023
130 d early
2022
12 d early
2021
93 d late
2020
on the day
2019
24 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 33 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€230,932▼ 7.1%
2024 · €248,650
Total assets
€807,594▼ 7.1%
2024 · €869,734
Net result
-€17,718
2024 · €246
Working capital
-€133,311▼ 12.2%
2024 · -€118,844
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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€25,163▲ 460%€21,897▼ 13.0%€26,136▲ 19.4%€17,246▼ 34.0%€14,285▼ 17.2%
Net result€3,830within the sector's middle half€12,076within the sector's middle half▲ 215%€141below the sector's middle half▼ 98.8%€246below the sector's middle half▲ 74.2%-€17,718below the sector's middle half
Equity€236,188within the sector's middle half▲ 1.6%€248,264above the sector's middle half▲ 5.1%€248,405above the sector's middle half▲ 0.1%€248,650above the sector's middle half▲ 0.1%€230,932within the sector's middle half▼ 7.1%
Total assets€1.1mabove the sector's middle half▼ 5.2%€1.0mabove the sector's middle half▼ 4.8%€944,951above the sector's middle half▼ 6.2%€869,734above the sector's middle half▼ 8.0%€807,594above the sector's middle half▼ 7.1%
Debt€821,797▼ 7.0%€759,400▼ 7.6%€696,546▼ 8.3%€621,083▼ 10.8%€576,661▼ 7.2%
Working capital-€29,567below the sector's middle half▼ 2.6%-€124,262below the sector's middle half▼ 320%-€127,569below the sector's middle half▼ 2.7%-€118,844below the sector's middle half▲ 6.8%-€133,311below the sector's middle half▼ 12.2%
Solvency22.3%below the sector's middle half▲ 1.5pp24.6%below the sector's middle half▲ 2.3pp26.3%below the sector's middle half▲ 1.7pp28.6%within the sector's middle half▲ 2.3pp28.6%within the sector's middle half=
Current ratio0.83below the sector's middle half=0.30below the sector's middle half▼ 0.530.24below the sector's middle half▼ 0.060.20below the sector's middle half▼ 0.040.18below the sector's middle half▼ 0.02
Return on assets (ROA)0.4%below the sector's middle half▲ 1.7pp1.2%below the sector's middle half▲ 0.8pp0.0%below the sector's middle half▼ 1.2pp0.0%below the sector's middle half=-2.2%below the sector's middle half▼ 2.2pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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 has fallen two years in a row; 2025 is 17% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €807,594
Fixed assets
€778,255 ▼ 7.3%
Current assets
€29,339 ▼ 2.4%
Equity and liabilities €807,594
Equity
€230,932 ▼ 7.1%
Debt
€576,661 ▼ 7.2%
Debt's share of the balance-sheet total stays at 71.4%.
Key figures and ratios
EBITDA
€94,425▲
2024 · €88,783
Cash flow
€62,422▼
2024 · €71,782
Debt to equity
2.50=
2024 · 2.50
ROE
-7.7%▼
2024 · 0.1%
Interest coverage
5.19▼
2024 · 5.25
Debt ≤ 1 year
€162,650▲
2024 · €148,890
Debt > 1 year
€388,672▼
2024 · €455,206
Income taxes
€13,800▲
2024 · €136
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,422 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
0.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,422 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 | €65,898 | €66,319 | €69,882 | €71,537 | €80,140 | ▲ 12.0% |
| Other operating charges640/8 | €5,323 | €2,858 | €2,563 | €16,122 | €4,512 | ▼ 72.0% |
| Gross operating margin9900 | €96,384 | €91,074 | €98,581 | €104,905 | €98,937 | ▼ 5.7% |
| Operating profit (loss)9901 | €25,163 | €21,897 | €26,136 | €17,246 | €14,285 | ▼ 17.2% |
| Financial income75/76B | €201 | €71 | €151 | €33 | €0 | ▼ 100% |
| Recurring financial income75 | €201 | €71 | €151 | €33 | €0 | ▼ 100% |
| Financial charges65/66B | €21,533 | €9,720 | €23,110 | €16,898 | €18,202 | ▲ 7.7% |
| Recurring financial charges65 | €21,533 | €9,720 | €23,110 | €16,898 | €18,202 | ▲ 7.7% |
| Profit (loss) for the period before taxes9903 | €3,830 | €12,247 | €3,177 | €382 | -€3,918 | ▼ 1,127% |
| Income taxes67/77 | - | €171 | €3,036 | €136 | €13,800 | ▲ 10,052% |
| Profit (loss) for the period9904 | €3,830 | €12,076 | €141 | €246 | -€17,718 | ▼ 7,313% |
| Profit (loss) for the period to be appropriated9905 | €3,830 | €12,076 | €141 | €246 | -€17,718 | ▼ 7,313% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.0m | €944,951 | €869,734 | €807,594 | ▼ 7.1% |
| Fixed assets21/28 | €908,634 | €954,242 | €904,088 | €839,688 | €778,255 | ▼ 7.3% |
| Tangible fixed assets22/27 | €908,634 | €954,242 | €904,088 | €839,688 | €778,255 | ▼ 7.3% |
| Land and buildings22 | €888,776 | €935,265 | €889,009 | €827,510 | €769,503 | ▼ 7.0% |
| Plant, machinery and equipment23 | €11,300 | €10,554 | €7,542 | €4,585 | €2,188 | ▼ 52.3% |
| Furniture and vehicles24 | €8,558 | €8,423 | €7,537 | €7,593 | €6,564 | ▼ 13.6% |
| Current assets29/58 | €149,351 | €53,422 | €40,863 | €30,046 | €29,339 | ▼ 2.4% |
| Amounts receivable within one year40/41 | €49,893 | €23,493 | €20,507 | €4,594 | €19,873 | ▲ 333% |
| Trade receivables40 | €49,782 | €23,432 | €20,445 | €4,482 | €19,867 | ▲ 343% |
| Other amounts receivable41 | €111 | €61 | €62 | €111 | €7 | ▼ 93.8% |
| Cash at bank and in hand54/58 | €93,127 | €29,929 | €20,316 | €24,364 | €8,326 | ▼ 65.8% |
| Deferred charges and accrued income490/1 | €6,330 | €0 | €41 | €1,088 | €1,139 | ▲ 4.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €944,951 | €869,734 | €807,594 | ▼ 7.1% |
| Equity10/15 | €236,188 | €248,264 | €248,405 | €248,650 | €230,932 | ▼ 7.1% |
| Contributions10/11 | €468,600 | €468,600 | €468,600 | €468,600 | €468,600 | = |
| Profit (loss) carried forward14 | -€232,412 | -€220,336 | -€220,195 | -€219,950 | -€237,668 | ▼ 8.1% |
| Amounts payable17/49 | €821,797 | €759,400 | €696,546 | €621,083 | €576,661 | ▼ 7.2% |
| Amounts payable after more than one year17 | €642,879 | €581,716 | €519,523 | €455,206 | €388,672 | ▼ 14.6% |
| Financial debts170/4 | €642,879 | €581,716 | €519,523 | €455,206 | €388,672 | ▼ 14.6% |
| Amounts payable within one year42/48 | €178,918 | €177,684 | €168,433 | €148,890 | €162,650 | ▲ 9.2% |
| Current portion of amounts payable after more than one year42 | €61,901 | €60,162 | €62,194 | €64,317 | €66,534 | ▲ 3.4% |
| Financial debts43 | €807 | €1,962 | €643 | €4,325 | €220 | ▼ 94.9% |
| Credit institutions430/8 | €807 | €1,962 | €643 | €4,325 | €220 | ▼ 94.9% |
| Trade debts44 | €15,141 | €12,206 | €14,070 | €13,382 | €15,022 | ▲ 12.3% |
| Suppliers440/4 | €15,141 | €12,206 | €14,070 | €13,382 | €15,022 | ▲ 12.3% |
| Taxes, remuneration and social security45 | €14,776 | €14,200 | €15,504 | €26,089 | €14,541 | ▼ 44.3% |
| Taxes450/3 | €11,056 | €14,200 | €15,504 | €26,089 | €12,257 | ▼ 53.0% |
| Remuneration and social security454/9 | €3,720 | €0 | - | - | €2,284 | - |
| Other amounts payable47/48 | €86,294 | €89,154 | €76,021 | €40,777 | €66,332 | ▲ 62.7% |
| Accrued charges and deferred income492/3 | - | - | €8,591 | €16,988 | €25,339 | ▲ 49.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,830 | €12,076 | €141 | €246 | -€17,718 | ▼ 7,313% |
| + Depreciation and write-downs630 | €65,898 | €66,319 | €69,882 | €71,537 | €80,140 | ▲ 12.0% |
| Operating cash flow (approximation) | €69,728 | €78,395 | €70,023 | €71,782 | €62,422 | ▼ 13.0% |
| Investment in fixed assets (approximation) | - | -€111,928 | -€19,728 | -€7,137 | -€18,707 | ▼ 162% |
| Change in cash | - | -€63,199 | -€9,613 | €4,048 | -€16,038 | ▼ 496% |
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
20-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet -€17,718
Net result drops to -€17,718, the lowest in the series.
14-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
22-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
18-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Highest result since 2019net €12,076 ▲215%
Net result €12,076, the highest in the series.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 93 days late
2021
30-09
Financial
Back to profitnet €3,830
Net result €3,830 after 2 loss-making years.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €200,000Eq €232,358
Equity rises from -€3,178 to €232,358.
24-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
17-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 17 days late
2016
07-04
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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, Lokeren · 1 establishment unit since 2007
Ground area
570 m²
Building footprint
231 m²
Volume, LiDAR
1,909 m³
Parcel 46383D0918/00C004, Flanders · tallest building 15.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SEPT03
since 20072.168.038.486
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46383D0918/00C004 | Flanders | 570 m² | 1 · 231 m² | 15.1 m · 3 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.
Similar companies · same sector, comparable size
BARTLE BE
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DANTHOLIL
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CONNEXUS
BE 0458.195.138
Lokeren · Eq €230,924
SENECA MANAGEMENT SERVICES
BE 0884.333.855
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TDI CONSULTANCY
BE 0884.021.178
Haacht · Eq €230,854
Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 39,281 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
Founded03-01-2008
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0894597643
Also
9925:BE0894597643
Registered
31-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.