SETESCO Structural Engineers
ActiveSETESCO Structural Engineers has been active since 1967 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €181k and a net result of €-75k. Equity is shrinking by ~12.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 45% of 715 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency76▲+8
Growth29=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 1.74 against 1.59 in 2024), but 61.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Sector 71
lower
← 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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
56 d late
2023
30 d late
2022
52 d early
2021
61 d early
2020
45 d early
2019
57 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
08-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.22M▼ 20.6%
2021 · €1.54M
2018: €1.40M
2019: €1.30M
2020: €1.35M
2021: €1.54M
2018 → 2022
EBIT margin
-9.4%▼ 15.4pp
2021 · 6.0%
2018: 13.4%
2019: 5.5%
2020: 7.5%
2021: 6.0%
2018 → 2022
Net result
€-75k
2024 · €85k
2018: €137k
2019: €53k
2020: €74k
2021: €66k
2022: €-118k
2023: €-269k
2024: €85k
2018 → 2025
Working capital
€160k▼ 27.3%
2024 · €221k
2018: €614k
2019: €583k
2020: €583k
2021: €592k
2022: €456k
2023: €165k
2024: €221k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.54M-€1.22M▼ 20.6%
Equity€607k-€489k▼ 19.4%€223k▼ 54.5%€257k▲ 15.2%€181k▼ 29.6%
Operating result€93k-€-114k€-266k▼ 133%€102k€-59k
Net result€66k-€-118k€-269k▼ 128%€85k€-75k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €59k after €102k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €472k
Fixed assets
€96k▼ 27.8%
Current assets
€376k▼ 36.9%
Equity and liabilities €472k
Equity
€181k▼ 29.6%
Debt
€291k▼ 38.3%
The debt ratio falls from 64.8% to 61.7%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€-24k▼
2024 · €140k
Cash flow
€-40k▼
2024 · €123k
Solvency
38.3%▲
2024 · 35.2%
Current ratio
1.74▲
2024 · 1.59
Quick ratio
1.74▲
2024 · 1.59
Debt / equity
1.61▼
2024 · 1.84
ROE
-41.3%▼
2024 · 33.2%
ROA
-15.8%▼
2024 · 11.7%
Interest coverage
-1.48▼
2024 · 7.69
Debt
€291k▼
2024 · €472k
Debt ≤ 1 year
€216k▼
2024 · €375k
Debt > 1 year
€75k▼
2024 · €97k
Income taxes
€602▲
2024 · €462
Staff costs
€510k▼
2024 · €564k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€728k€472k▼
Fixed assets21/28€133k€96k▼
Tangible fixed assets22/27€130k€96k▼
Plant, machinery and equipment23€12k€1k▼
Furniture and vehicles24€8k€789▼
Other tangible fixed assets26€110k€94k▼
Financial fixed assets28€2k€125▼
Current assets29/58€596k€376k▼
Amounts receivable within one year40/41€437k€319k▼
Trade receivables40€436k€319k▼
Other amounts receivable41€418€138▼
Cash at bank and in hand54/58€150k€36k▼
Deferred charges and accrued income490/1€9k€21k▲
Equity and liabilities
Total equity and liabilities10/49€728k€472k▼
Equity10/15€257k€181k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€142k€6k▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€136k-
Profit (loss) carried forward14€51k€112k▲
Investment grants15€1k-
Amounts payable17/49€472k€291k▼
Amounts payable after more than one year17€97k€75k▼
Financial debts170/4€97k€75k▼
Amounts payable within one year42/48€375k€216k▼
Current portion of amounts payable after more than one year42€110k€21k▼
Trade debts44€87k€71k▼
Suppliers440/4€87k€71k▼
Taxes, remuneration and social security45€128k€124k▼
Taxes450/3€67k€52k▼
Remuneration and social security454/9€61k€72k▲
Other amounts payable47/48€50k-
Income statement
Code20242025
Remuneration, social security and pensions62€564k€510k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€37k€35k▼
Other operating charges640/8€1k€12k▲
Gross operating margin9900€705k€498k▼
Operating profit (loss)9901€102k€-59k▼
Financial income75/76B€1k€1k▼
Recurring financial income75€1k€1k▼
Financial charges65/66B€18k€16k▼
Recurring financial charges65€18k€16k▼
Profit (loss) for the period before taxes9903€86k€-74k▼
Income taxes67/77€462€602▲
Profit (loss) for the period9904€85k€-75k▼
Profit (loss) for the period to be appropriated9905€85k€-75k▼
Appropriation of the result
Profit (loss) to be appropriated9906€101k€-24k▼
Profit (loss) brought forward from the previous period14P€16k€51k▲
Transfer from equity791/2-€136k
Profit to be distributed694/7€50k-
Return on contributions (dividend)694€50k-
Social balance
Average headcount (FTE)90878.37.3▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 56 days late
2024
31-12
Financial
Back to profitnet €85k
Net result €85k after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €-269k
Net result drops to €-269k, the lowest in the series; recovery starts the following year.
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
9 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, Elsene · 1 establishment unit since 1967
Ground area
1,574 m²
Building footprint
1,579 m²
Volume, LiDAR
46,471 m³
Parcel 21807G0135/00T003, Brussels · tallest building 46.6 m, ±13 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 251, 1050 Elsene
since 19672.000.138.119
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 11,491 companies in sector 71121 we hold annual accounts for 6,520. 5,159 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1967
Fiscal year end31-12
Activities, NACEBEL
71121Engineering and related technical consultancy, excluding land surveyors
74203
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 08-09-2026. Scores and ratios are computed by Checked and are not a credit decision.