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SERVICES DEVELOPMENT MANAGEMENT
Lifetime
21 annual accounts with figures on one time axis, 33 filings since 1994peak €333,385 (2008)
-€89,239▲ €20,557
lowest -€29.4m (2020)
-€2.8m▼ €25.8m
peak €144.7m (2019)
€118.1m▼ 2.3%
€14.7m▼ 34.2%
peak 0.5 FTE (2007)
0 FTE
Board3 names since 2010
2 directorsChristiane Ivo and 1 other
Owners
Documentsfilings and deeds
27-10-20264 days before the deadline
2026financial year
Gross margin from -€109,796 to -€89,239Loss of €2.8m2 directors reappointed 06-11Debts from €22.4m to €14.7mCash from €246,574 to €3.6m
Key points
from the 2026 annual accountsResult
-€2.8m -€2.8m
From profit to loss in 2026, after a profit of €23.0m in 2025.
Liquidity
7.24 was 5.26 in 2025
Short-term debts fell from €22.2m to €14.7m.
Filings
33 annual accounts since 1994
Three of the last ten came late. The 2020 accounts came latest: 33 days after the end of the period.
At the same address
6 companies
Position in the sector
-€2.8m
Lower net result than 95% of companies in advertising and market research. Sector median €40,649 · 31 companies.
Checked score
94
Excellent
Financially stronger than 53% of all companies
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 27 companies (NACE 73, large).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.4%▲ +0.1 percentage points vs 09-2025highest value
11-2025: 0.2%▼ -0.2 percentage points vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.1%▼ -0.1 percentage points vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: < 0.1%▼ -0.1 percentage points vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Name on a sanctions list
Liquidity: current ratio 7.24, cash €3.6m
Loss of €2.8m (financial year 2026)
lowers risk
Size: total assets €132.9m
Founded in 1994
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (all companies). It does better than 93% of them on solvency, 75% on liquidity, 14% on profitability and 29% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 151 companies had the same profile as SERVICES DEVELOPMENT MANAGEMENT has now. Each dot is one company, two years later.
94.0%
were still trading
4.0%
stopped another way
1.3%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SERVICES DEVELOPMENT MANAGEMENT itself is lower: < 0.1% within 12 months. It rests on far more data about SERVICES DEVELOPMENT MANAGEMENT than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 151 companies, not a prediction for SERVICES DEVELOPMENT MANAGEMENT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €11,100,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 7.24 (5.26 in 2025), above the usual 1.5. Short-term debt is 11.1% and cash 2.7% of total assets. 11.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 27-10-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
4 days early
2025
2 days early
2024
19 days late
2023
1 day early
2022
6 days early
2021
15 days late
2020
33 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 8 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 29 October (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-03-2027 year end31-10-2027 deadline
Name match with a sanctions list
1 entryMURAD EN SONS DIAMONDSalias M.S.D.
A matching name does not mean the company is on the list. Check the entry at the source.
Board and ownership
Shares in 8 companies, including Las Jacarandas Del Cielo Cinco - Lot #3 and Las Jacarandas Del Mar Tres - Lot #2
Board & ownershipRecent changes
2 directors reappointed
Christiane Ivo and CAP (managing director) · Permanent representative: Emiel Lathouwers · Board meeting of 03-11-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0452691377
Registered-office move · Amendment of the articles
Gazette deed
1 director resigning
Changes of role: CAP NV and Ivo Christiane · Resignation: Lathouwers Emiel (managing director) · Permanent representative: Lathouwers Emiel · General meeting of 20-10-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SERVICES DEVELOPMENT MANAGEMENT Antwerp | €132.9m | -€89,239 | 88.9% | 0 |
| FIWEP Woluwe-Saint-Lambert | €187.2m | -€111,161 | 80.0% | - |
| PARCOFIN Gembloux | €213.2m | -€63,026 | 21.2% | - |
| RODAPA BEHEER Brussels | €66.5m | -€41,410 | 92.3% | - |
| SYNGULARITY Sint-Gillis (bij-Brussel) | €45.9m | -€32,676 | 83.9% | - |
| SAN VITO Woluwe-Saint-Lambert | €391.3m | -€93,355 | 9.5% | - |
| SOPURA INTERNATIONAL SERVICES Seneffe | €88.7m | - | 88.7% | 0.7 |
These companies have the same main activity as SERVICES DEVELOPMENT MANAGEMENT: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €46m and €391m, founded between 1988 and 1999.
Official details
Source: KBO- Status
- Active since 05-05-1994Normal situation
- Activity
- Market research and public opinion pollingNACE 73200
- Establishment unit
- 2.067.584.0012000 Antwerp, since 18-07-1994
- Financial year end
- 31 March
- Peppol
- Reachable since 11-11-2025
Annual accounts to 31-03-2026
- €132.9m▼ 7.3%
- Filing
- Filed on 27-10-2026, 4 days before the end of the filing period
Companies linked to SERVICES DEVELOPMENT MANAGEMENT
Subsidiaries and holdings
- FREESPACE25%
- Family on Tour15%
- DUINENWATER GROUP10.78%
- VENDIS CAPITAL10.02%
Insights on SERVICES DEVELOPMENT MANAGEMENT
SERVICES DEVELOPMENT MANAGEMENT has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €118.1m and a net result of -€2.8m.
Equity has been stable since 2019 (±2.9% per year). Its solvency ranks better than 86% of 31 sector peers (NACE 73, financial year 2026).
The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SERVICES DEVELOPMENT MANAGEMENT
- What is the company number of SERVICES DEVELOPMENT MANAGEMENT?
- The company number of SERVICES DEVELOPMENT MANAGEMENT is 0452.691.377. The VAT number is the same number with BE in front: BE 0452.691.377.
- Where is SERVICES DEVELOPMENT MANAGEMENT based?
- The registered office is at IJzerenwaag 12A, 2000 Antwerp.Company details
- What does SERVICES DEVELOPMENT MANAGEMENT do?
- According to the KBO register, the main activity is market research and public opinion polling (NACE 73200).
- What is the legal form of SERVICES DEVELOPMENT MANAGEMENT?
- SERVICES DEVELOPMENT MANAGEMENT is a public limited company (NV).
- When was SERVICES DEVELOPMENT MANAGEMENT founded?
- SERVICES DEVELOPMENT MANAGEMENT was founded on 05-05-1994.
- Is SERVICES DEVELOPMENT MANAGEMENT still active?
- Yes, SERVICES DEVELOPMENT MANAGEMENT is an active enterprise in the KBO register.
- How many employees does SERVICES DEVELOPMENT MANAGEMENT have?
- SERVICES DEVELOPMENT MANAGEMENT had an average of 0.3 full-time equivalents in financial year 2019, according to the filed annual accounts.Financials
- What is the turnover of SERVICES DEVELOPMENT MANAGEMENT?
- The annual accounts for financial year 2026 state no turnover.
- Is SERVICES DEVELOPMENT MANAGEMENT profitable?
- In financial year 2026, SERVICES DEVELOPMENT MANAGEMENT made a loss of €2.8m.
- Where can I find the annual accounts of SERVICES DEVELOPMENT MANAGEMENT?
- SERVICES DEVELOPMENT MANAGEMENT filed 33 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of SERVICES DEVELOPMENT MANAGEMENT due?
- SERVICES DEVELOPMENT MANAGEMENT must file the annual accounts for financial year 2027 by 31-10-2027.Timeline
Next steps
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