SETEC
ActiveSummary
SETEC has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €723,365 and a net result of €168,169. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 90% of 156 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability90▲+7
Solvency100▲+2
Growth82▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity ample (current ratio 4.92 against 3.77 in 2024; short-term debt: 19.9% and cash: 24.5% of total assets), and 20.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 33
Relative position
BE, all sectors
reference
Repair, maintenance and installation of machinery and equipment (NACE 33)
about 56% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
79.5%
Return on assets
18.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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
21 d late
2024
20 d late
2023
29 d late
2022
122 d early
2021
135 d early
2020
113 d early
2019
147 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 64 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 20 August (4 of the last 5 filed years within 142 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money Which other companies belong to the same group?Gimv · 58 companies
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Financials · fiscal year 2025, full schema
Turnover
€1.5m▲ 46.4%
2024 · €1.0m
EBIT margin
15.7%▲ 1.5pp
2024 · 14.2%
Net result
€168,169▲ 71.4%
2024 · €98,094
Working capital
€710,197▲ 30.6%
2024 · €543,802
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, 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
Turnover€1.1m€1.0m▼ 5.9%€1.5m▲ 46.4%
Operating result€38,661€42,373▲ 9.6%€169,026▲ 299%€143,326▼ 15.2%€231,143▲ 61.3%
Net result€29,355within the sector's middle half€28,428within the sector's middle half▼ 3.2%€122,851within the sector's middle half▲ 332%€98,094within the sector's middle half▼ 20.2%€168,169within the sector's middle half▲ 71.4%
EBIT margin15.8%14.2%▼ 1.6pp15.7%▲ 1.5pp
Equity€355,823within the sector's middle half▲ 9.0%€334,252above the sector's middle half▼ 6.1%€457,102within the sector's middle half▲ 36.8%€555,196within the sector's middle half▲ 21.5%€723,365within the sector's middle half▲ 30.3%
Total assets€498,786within the sector's middle half▲ 9.1%€676,328above the sector's middle half▲ 35.6%€869,647within the sector's middle half▲ 28.6%€764,259within the sector's middle half▼ 12.1%€909,975within the sector's middle half▲ 19.1%
Debt€142,962▲ 9.5%€342,076▲ 139%€412,544▲ 20.6%€209,062▼ 49.3%€186,610▼ 10.7%
Working capital€356,085within the sector's middle half▲ 9.1%€327,865above the sector's middle half▼ 7.9%€450,965within the sector's middle half▲ 37.5%€543,802within the sector's middle half▲ 20.6%€710,197within the sector's middle half▲ 30.6%
Solvency71.3%above the sector's middle half▼ 0.1pp49.4%within the sector's middle half▼ 21.9pp52.6%within the sector's middle half▲ 3.1pp72.6%above the sector's middle half▲ 20.1pp79.5%above the sector's middle half▲ 6.8pp
Current ratio3.50above the sector's middle half▼ 0.012.04within the sector's middle half▼ 1.462.15within the sector's middle half▲ 0.113.77above the sector's middle half▲ 1.624.92above the sector's middle half▲ 1.15
Return on assets (ROA)5.9%within the sector's middle half▲ 7.4pp4.2%within the sector's middle half▼ 1.7pp14.1%above the sector's middle half▲ 9.9pp12.8%within the sector's middle half▼ 1.3pp18.5%above the sector's middle half▲ 5.6pp
Staff (FTE)2below the sector's middle half▲ 5.3%2.1▲ 5.0%2.5below the sector's middle half▲ 19.0%2.5below the sector's middle half=4.5below the sector's middle half▲ 80.0%
above
within
below
the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 61% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €909,975
Fixed assets
€18,768 ▼ 22.3%
Current assets
€891,207 ▲ 20.4%
Equity and liabilities €909,975
Equity
€723,365 ▲ 30.3%
Debt
€186,610 ▼ 10.7%
Debt's share of the balance-sheet total falls from 27.4% to 20.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€239,550▲
2024 · €150,483
Cash flow
€176,575▲
2024 · €105,251
Quick ratio
2.48▲
2024 · 1.26
Debt to equity
0.26▼
2024 · 0.38
ROE
23.2%▲
2024 · 17.7%
Interest coverage
61.72▲
2024 · 20.15
Debt ≤ 1 year
€181,010▼
2024 · €196,307
Debt > 1 year
€5,600▼
2024 · €12,026
Income taxes
€58,912▲
2024 · €35,118
Staff costs
€274,281▲
2024 · €177,890
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,338 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 31,370 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €1.1m | €1.0m | €1.5m | ▲ 46.8% |
| Turnover70 | - | - | €1.1m | €1.0m | €1.5m | ▲ 46.4% |
| Other operating income74 | - | - | €6,936 | €3,061 | €8,342 | ▲ 173% |
| Operating charges60/66A | - | - | €907,331 | €865,548 | €1.2m | ▲ 44.4% |
| Goods for resale, raw materials and consumables60 | - | - | €585,480 | €554,453 | €835,222 | ▲ 50.6% |
| Purchases600/8 | - | - | €742,209 | €508,668 | €784,362 | ▲ 54.2% |
| Change in stocks: decrease (increase)609 | - | - | -€156,728 | €45,785 | €50,861 | ▲ 11.1% |
| Services and other goods61 | - | - | €147,422 | €120,330 | €130,294 | ▲ 8.3% |
| Remuneration, social security and pensions62 | - | €126,547 | €166,967 | €177,890 | €274,281 | ▲ 54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,768 | €6,721 | €7,157 | €8,406 | ▲ 17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €4,848 | €0 | ▼ 100% |
| Other operating charges640/8 | - | €1,263 | €740 | €870 | €1,256 | ▲ 44.5% |
| Gross operating margin9900 | €155,597 | €171,950 | - | - | - | - |
| Operating profit (loss)9901 | €38,661 | €42,373 | €169,026 | €143,326 | €231,143 | ▲ 61.3% |
| Financial income75/76B | - | €730 | €727 | €236 | €1,336 | ▲ 467% |
| Recurring financial income75 | €1,402 | €730 | €727 | €236 | €1,336 | ▲ 467% |
| Other financial income752/9 | - | - | €727 | €236 | €1,336 | ▲ 467% |
| Financial charges65/66B | - | €4,008 | €4,740 | €10,350 | €5,399 | ▼ 47.8% |
| Recurring financial charges65 | €2,464 | €4,008 | €4,740 | €10,350 | €5,399 | ▼ 47.8% |
| Debt charges650 | - | - | €2,667 | €7,467 | €3,881 | ▼ 48.0% |
| Other financial charges652/9 | - | - | €2,073 | €2,883 | €1,518 | ▼ 47.3% |
| Profit (loss) for the period before taxes9903 | €37,599 | €39,095 | €165,013 | €133,212 | €227,080 | ▲ 70.5% |
| Income taxes67/77 | €8,244 | €10,667 | €42,162 | €35,118 | €58,912 | ▲ 67.8% |
| Taxes670/3 | - | - | €42,162 | €35,118 | €58,912 | ▲ 67.8% |
| Profit (loss) for the period9904 | €29,355 | €28,428 | €122,851 | €98,094 | €168,169 | ▲ 71.4% |
| Profit (loss) for the period to be appropriated9905 | €29,355 | €28,428 | €122,851 | €98,094 | €168,169 | ▲ 71.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €498,786 | €676,328 | €869,647 | €764,259 | €909,975 | ▲ 19.1% |
| Fixed assets21/28 | - | €31,838 | €25,117 | €24,150 | €18,768 | ▼ 22.3% |
| Tangible fixed assets22/27 | - | €31,838 | €25,117 | €24,150 | €18,768 | ▼ 22.3% |
| Furniture and vehicles24 | - | €31,838 | €25,117 | €24,150 | €18,768 | ▼ 22.3% |
| Current assets29/58 | €498,786 | €644,490 | €844,530 | €740,109 | €891,207 | ▲ 20.4% |
| Stocks and contracts in progress3 | €352,533 | €382,467 | €539,195 | €493,411 | €442,550 | ▼ 10.3% |
| Stocks30/36 | - | €382,467 | €539,195 | €493,411 | €442,550 | ▼ 10.3% |
| Goods purchased for resale34 | - | - | €539,195 | €493,411 | €442,550 | ▼ 10.3% |
| Amounts receivable within one year40/41 | €90,586 | €179,702 | €211,061 | €136,189 | €224,018 | ▲ 64.5% |
| Trade receivables40 | - | €178,446 | €198,223 | €111,922 | €210,727 | ▲ 88.3% |
| Other amounts receivable41 | - | €1,256 | €12,838 | €24,267 | €13,292 | ▼ 45.2% |
| Cash at bank and in hand54/58 | €55,667 | €81,844 | €89,544 | €110,510 | €222,626 | ▲ 101% |
| Deferred charges and accrued income490/1 | - | €477 | €4,731 | €0 | €2,013 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €498,786 | €676,328 | €869,647 | €764,259 | €909,975 | ▲ 19.1% |
| Equity10/15 | €355,823 | €334,252 | €457,102 | €555,196 | €723,365 | ▲ 30.3% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €337,223 | €315,652 | €438,502 | €536,596 | €704,765 | ▲ 31.3% |
| Non-distributable reserves130/1 | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | €313,792 | €438,502 | €536,596 | €704,765 | ▲ 31.3% |
| Profit (loss) carried forward14 | - | €0 | - | - | - | - |
| Amounts payable17/49 | €142,962 | €342,076 | €412,544 | €209,062 | €186,610 | ▼ 10.7% |
| Amounts payable after more than one year17 | - | €23,967 | €18,144 | €12,026 | €5,600 | ▼ 53.4% |
| Financial debts170/4 | - | €23,967 | €18,144 | €12,026 | €5,600 | ▼ 53.4% |
| Credit institutions173 | - | - | €18,144 | €12,026 | €5,600 | ▼ 53.4% |
| Amounts payable within one year42/48 | €142,701 | €316,625 | €393,565 | €196,307 | €181,010 | ▼ 7.8% |
| Current portion of amounts payable after more than one year42 | - | €5,548 | €5,823 | €6,118 | €6,425 | ▲ 5.0% |
| Trade debts44 | €112,270 | €99,851 | €116,180 | €74,044 | €125,566 | ▲ 69.6% |
| Suppliers440/4 | - | €99,851 | €116,180 | €74,044 | €125,566 | ▲ 69.6% |
| Advances received on contracts in progress46 | - | €45,003 | €5,120 | €21,982 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €41,224 | €39,480 | €18,934 | €49,019 | ▲ 159% |
| Taxes450/3 | - | €22,229 | €8,443 | €7,128 | €17,123 | ▲ 140% |
| Remuneration and social security454/9 | - | €18,994 | €31,037 | €11,806 | €31,896 | ▲ 170% |
| Other amounts payable47/48 | - | €125,000 | €226,963 | €75,229 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €1,484 | €835 | €729 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,355 | €28,428 | €122,851 | €98,094 | €168,169 | ▲ 71.4% |
| + Depreciation and write-downs630 | - | €1,768 | €6,721 | €7,157 | €8,406 | ▲ 17.5% |
| Operating cash flow (approximation) | €29,355 | €30,196 | €129,572 | €105,251 | €176,575 | ▲ 67.8% |
| Investment in fixed assets (approximation) | - | - | €0 | -€6,190 | -€3,025 | ▲ 51.1% |
| Change in cash | - | €26,177 | €7,700 | €20,966 | €112,116 | ▲ 435% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 21 days late
28-07
State Gazette act
Appointment: ELCLA (director)Permanent representatives: Ruben Monballieu, Wim Geens and 2 others · Resignation: ELCLA (day-to-day manager)16 facts ▸
State Gazette act
Appointment: ELCLA (director)
Permanent representatives: Ruben Monballieu, Wim Geens and 2 others · Resignation: ELCLA (day-to-day manager)16 facts ▸
- General meeting, 08-07-2026
- Director appointment, ELCLA (director)
- Board composition, Cristallo TopCo BV (director)
- Permanent representative, Ruben Monballieu (permanent representative)
- Board composition, Willco BV (director)
- Permanent representative, Wim Geens (permanent representative)
- Board composition, NV-EMC BV (director)
- Permanent representative, Nicolas Verhaeghe (permanent representative)
- Board composition, ELCLA (director)
- Permanent representative, Francis Claeys (permanent representative)
- Board meeting, 08-07-2026
- Director appointment, ELCLA (day-to-day manager)
- +4 further facts in this act
2025
31-12
Financial
Highest result since 2018net €168,169 ▲71.4%
Operating result €231,143, net result €168,169, both a record.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 20 days late
2024
31-12
Financial
Equity above €500,000Eq €555,196 ▲21.5%
4 profitable years in a row build equity to €555,196.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
18-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €29,355
Net result €29,355 after one loss-making year.
09-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€6,849
Net result drops to -€6,849, the lowest in the series; recovery starts the following year.
06-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, 1 in day-to-day management, last change in 2026
Board 1
ELCLA
CurrentDirector · since 08-07-2026 · Private limited company · perm. rep.: Francis Claeys
Day-to-day management 1
ELCLA
CurrentManaging director · since 08-07-2026 · Private limited company · perm. rep.: Francis Claeys
Permanent representatives 1
Francis Claeys
CurrentPermanent representative · since 08-07-2026 · for ELCLA
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
11 of this company's 12 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 1994
Ground area
5,033 m²
Building footprint
2,299 m²
Volume, LiDAR
10,709 m³
Parcel 31810N0209/00P000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SETEC BV
since 19942.065.839.880
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31810N0209/00P000 | Flanders | 5,033 m² | 1 · 2,299 m² | 7.9 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.
Mandate history
1 person since 2026, 1 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| ELCLA |
|
Structure & network
Part of the group
Gimv
58 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- Gimv
- Cristallo TopCo
- SETEC
Highest known parent: Gimv. The sources do not say who stands above it.
Owners 2
- Cristallo TopCoparent100%
- EHOLDparentSourceaccounts EHOLD 2023100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 4,500 EUR awarded · 4,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 4,500 EUR |
| 2023 | 1 | 4,500 EUR | 0 EUR |
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Identification & contact
Identification
Legal formPrivate limited company
Founded21-01-1994
Fiscal year end31-12
Activities, NACEBEL 2025
27120Manufacture of electrical equipment
33200Installation of industrial machinery and equipment
43211General electrical installation work
46643Wholesale of electrical equipment, including installation materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0452022671
Also
9925:BE0452022671
Registered
03-12-2025
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.