SETESCO Structural Engineers
ActiveSummary
SETESCO Structural Engineers has been active since 1967 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €180,625 and a net result of -€74,549. Equity is shrinking by about 13% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2028. Its solvency ranks better than 46% of 884 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Overview
Activity
Engineering and related technical consultancy, excluding land surveyors
NACE 71121
9th oldest company in the Brussels-Capital Region, Architecture and engineering sector1 site
Size
≈ €1.2mturnover 2025, estimated
- Staff
- 7.3 FTE
- Equity
- €180,625
- Loss
- -€74,549
Turnover estimated from the gross margin
Structure
2025 accounts filed 31 days late3 of 9 deeds summarised
Why 62raises riskLoss of €74,549 (financial year 2025)Last filed accounts filed 31 days late; 2 of the last 3 lateSize: 7.3 FTE, total assets €471,656lowers riskSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Show the evidence
Checked score
Score 2025
62
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 19% of its sector peers (NACE 71, micro)
Financial strength · tick = 2024
Weak
Solvency
63+3
equity 38.3% of total assets
Liquidity
37-13
short-term debt 45.7% · cash 7.6%
Profitability
0-83
return on assets -15.8%
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.7%
12-2024: 0.7%● unchanged vs 11-2024
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.7%● unchanged vs 06-2025
08-2025: 1.0%▲ +0.3 percentage points vs 07-2025
09-2025: 0.7%▼ -0.3 percentage points vs 08-2025
10-2025: 0.1%▼ -0.6 percentage points vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged 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 05-2026lowest value
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 1.4%▲ +1.2 percentage points vs 08-2026highest value
10-2026: 1.4%● unchanged vs 09-2026highest value
Credit of up to €11,000 on 30-day terms is acceptable
Liquidity ample (current ratio 1.74, compared with 1.59 in 2024, above the usual 1.5; short-term debt: 45.7% and cash: 7.6% of total assets), but 61.7% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (NACE 71, micro): better than 37% on solvency, 17% on liquidity, 4% on profitability and 16% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
56 days late
2023
30 days late
2022
52 days early
2021
61 days early
2020
45 days early
2019
57 days 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 14 days before the deadline; the sector median (NACE 71) for financial year 2024 is 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (4 of the last 5 filed years within 83 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
28-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · full…
- Back to profitnet €85,220
Financials · financial year 2025, full format
In the rankings
#9 oldest company in the Brussels-Capital Region, Architecture and engineering sector
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00476920.
Turnover
€1.2m▼ 20.6%
2021 · €1.5m
EBIT margin
-9.4%▼ 15.4pp
2021 · 6.0%
Net result
-€74,549
2024 · €85,220
Working capital
€160,393▼ 27.3%
2024 · €220,567
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €58,971 after €102,370 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€1.2m
2022
Operating result-€0.06m
2025
Net result-€0.07m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.5m
2025
Equity€0.2m
2025
Debt€0.3m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.2m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-9.4%
2022
Return on assets (ROA)-15.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency38.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.74
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)7.3
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. 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 financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.4m-€1.3m▼ 7.5%€1.3m▲ 3.6%€1.5m▲ 14.5%€1.2m▼ 20.6%
Operating result€0.2m-€0.07m▼ 61.8%€0.1m▲ 40.9%€0.09m▼ 8.0%-€0.1m-€0.3m▼ 133%€0.1m-€0.06m
Net result€0.1m-€0.05m▼ 61.2%€0.07mwithin the sector's middle half▲ 39.1%€0.07mwithin the sector's middle half▼ 10.9%-€0.1mbelow the sector's middle half-€0.3mbelow the sector's middle half▼ 128%€0.09mwithin the sector's middle half-€0.07mbelow the sector's middle half
EBIT margin13.4%-5.5%▼ 7.9pp7.5%▲ 2.0pp6.0%▼ 1.5pp-9.4%▼ 15.4pp
Equity€0.6m-€0.6m▼ 3.5%€0.6mwithin the sector's middle half▲ 0.7%€0.6mwithin the sector's middle half▲ 0.2%€0.5mwithin the sector's middle half▼ 19.4%€0.2mwithin the sector's middle half▼ 54.5%€0.3mwithin the sector's middle half▲ 15.2%€0.2mwithin the sector's middle half▼ 29.6%
Total assets€1.0m-€0.9m▼ 10.8%€0.9mwithin the sector's middle half▲ 4.0%€0.9mwithin the sector's middle half▲ 3.2%€0.8mwithin the sector's middle half▼ 14.4%€0.8mwithin the sector's middle half▼ 2.7%€0.7mwithin the sector's middle half▼ 7.2%€0.5mbelow the sector's middle half▼ 35.2%
Debt€0.4m-€0.3m▼ 23.3%€0.3m▲ 11.3%€0.3m▲ 9.3%€0.3m▼ 5.3%€0.6m▲ 76.9%€0.5m▼ 16.1%€0.3m▼ 38.3%
Working capital€0.6m-€0.6m▼ 5.1%€0.6mabove the sector's middle half▲ 0.1%€0.6mabove the sector's middle half▲ 1.6%€0.5mwithin the sector's middle half▼ 23.0%€0.2mwithin the sector's middle half▼ 63.8%€0.2mwithin the sector's middle half▲ 33.7%€0.2mwithin the sector's middle half▼ 27.3%
Solvency63.4%-68.6%▲ 5.2pp66.4%above the sector's middle half▼ 2.2pp64.4%within the sector's middle half▼ 2.0pp60.6%within the sector's middle half▼ 3.8pp28.4%within the sector's middle half▼ 32.2pp35.2%within the sector's middle half▲ 6.9pp38.3%within the sector's middle half▲ 3.1pp
Current ratio2.73-3.11▲ 0.382.90within the sector's middle half▼ 0.212.76within the sector's middle half▼ 0.132.44within the sector's middle half▼ 0.331.37within the sector's middle half▼ 1.071.59within the sector's middle half▲ 0.221.74within the sector's middle half▲ 0.16
Return on assets (ROA)13.9%-6.1%▼ 7.9pp8.1%within the sector's middle half▲ 2.0pp7.0%within the sector's middle half▼ 1.1pp-14.6%below the sector's middle half▼ 21.6pp-34.3%below the sector's middle half▼ 19.7pp11.7%within the sector's middle half▲ 46.0pp-15.8%below the sector's middle half▼ 27.5pp
Staff (FTE)7.4-7▼ 5.4%8.4within the sector's middle half▲ 20.0%10.3within the sector's middle half▲ 22.6%9.2within the sector's middle half▼ 10.7%9.5within the sector's middle half▲ 3.3%8.3within the sector's middle half▼ 12.6%7.3within the sector's middle half▼ 12.0%
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €471,656
Fixed assets
€95,699 ▼ 27.8%
Current assets
€375,957 ▼ 36.9%
Equity and liabilities €471,656
Equity
€180,625 ▼ 29.6%
Debt
€291,031 ▼ 38.3%
Debt's share of the balance-sheet total falls from 64.8% to 61.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€24,239▼
2024 · €139,728
Cash flow
-€39,817▼
2024 · €122,578
Debt to equity
1.61▼
2024 · 1.84
ROE
-41.3%▼
2024 · 33.2%
Interest coverage
-1.48▼
2024 · 7.69
Debt ≤ 1 year
€215,564▼
2024 · €374,973
Debt > 1 year
€75,467▼
2024 · €96,575
Income taxes
€602▲
2024 · €462
Staff costs
€510,381▼
2024 · €564,180
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,831 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13.4%
stopped otherwise
84.5%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 5,831 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.4m | €1.3m | €1.3m | €1.5m | €1.2m | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.8m | €0.7m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.7m | €0.6m | €0.7m | €0.6m | €0.5m | ▼ 9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.04m | €0.04m | €0.03m | ▼ 7.0% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.02m | €0.001m | €0.01m | ▲ 855% |
| Gross operating margin9900 | €0.7m | €0.5m | €0.7m | €0.8m | €0.5m | €0.5m | €0.7m | €0.5m | ▼ 29.3% |
| Operating profit (loss)9901 | €0.2m | €0.07m | €0.1m | €0.09m | -€0.1m | -€0.3m | €0.1m | -€0.06m | - |
| Financial income75/76B | - | - | - | €0.002m | €0.002m | €0.01m | €0.001m | €0.001m | ▼ 8.2% |
| Recurring financial income75 | €0.003m | €0.002m | €0.003m | €0.002m | €0.002m | €0.01m | €0.001m | €0.001m | ▼ 8.2% |
| Financial charges65/66B | - | - | - | €0.003m | €0.004m | €0.01m | €0.02m | €0.02m | ▼ 10.1% |
| Recurring financial charges65 | €0.003m | €0.002m | €0.003m | €0.003m | €0.004m | €0.01m | €0.02m | €0.02m | ▼ 10.1% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.07m | €0.1m | €0.09m | -€0.1m | -€0.3m | €0.09m | -€0.07m | - |
| Income taxes67/77 | €0.05m | €0.02m | €0.03m | €0.03m | €0.001m | €0.001m | €462 | €0.001m | ▲ 30.3% |
| Profit (loss) for the period9904 | €0.1m | €0.05m | €0.07m | €0.07m | -€0.1m | -€0.3m | €0.09m | -€0.07m | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.05m | €0.07m | €0.07m | -€0.1m | -€0.3m | €0.09m | -€0.07m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €984,132 | €878,304 | €913,628 | €943,007 | €807,014 | €784,826 | €728,057 | €471,656 | ▼ 35.2% |
| Fixed assets21/28 | €15,855 | €19,486 | €23,213 | €14,980 | €32,878 | €174,355 | €132,517 | €95,699 | ▼ 27.8% |
| Tangible fixed assets22/27 | €13,769 | €17,400 | €21,127 | €12,894 | €30,792 | €172,144 | €130,306 | €95,574 | ▼ 26.7% |
| Land and buildings22 | - | - | - | €42 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €12,852 | €20,975 | €20,730 | €11,592 | €1,272 | ▼ 89.0% |
| Furniture and vehicles24 | - | - | - | - | - | €13,789 | €8,474 | €789 | ▼ 90.7% |
| Other tangible fixed assets26 | - | - | - | - | €9,817 | €126,260 | €110,240 | €93,513 | ▼ 15.2% |
| Assets under construction and advance payments27 | - | - | - | - | - | €11,365 | - | - | - |
| Financial fixed assets28 | €2,086 | €2,086 | €2,086 | €2,086 | €2,086 | €2,211 | €2,211 | €125 | ▼ 94.3% |
| Current assets29/58 | €968,277 | €858,818 | €890,415 | €928,027 | €774,136 | €610,471 | €595,540 | €375,957 | ▼ 36.9% |
| Amounts receivable within one year40/41 | €574,820 | €556,369 | €489,577 | €839,262 | €573,651 | €396,738 | €436,786 | €318,817 | ▼ 27.0% |
| Trade receivables40 | - | - | - | €810,262 | €520,475 | €358,408 | €436,368 | €318,679 | ▼ 27.0% |
| Other amounts receivable41 | - | - | - | €29,000 | €53,176 | €38,330 | €418 | €138 | ▼ 67.0% |
| Cash at bank and in hand54/58 | €392,573 | €291,976 | €399,003 | €86,351 | €198,409 | €161,696 | €150,149 | €35,992 | ▼ 76.0% |
| Deferred charges and accrued income490/1 | - | - | - | €2,414 | €2,076 | €52,037 | €8,605 | €21,148 | ▲ 146% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €984,132 | €878,304 | €913,628 | €943,007 | €807,014 | €784,826 | €728,057 | €471,656 | ▼ 35.2% |
| Equity10/15 | €624,062 | €602,258 | €606,279 | €607,199 | €489,169 | €222,624 | €256,509 | €180,625 | ▼ 29.6% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €142,248 | €142,248 | €142,248 | €142,248 | €142,248 | €142,248 | €142,248 | €6,197 | ▼ 95.6% |
| Non-distributable reserves130/1 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Distributable reserves133 | - | - | - | €136,051 | €136,051 | €136,051 | €136,051 | - | - |
| Profit (loss) carried forward14 | €419,841 | €398,037 | €402,058 | €402,978 | €284,948 | €15,733 | €50,953 | €112,455 | ▲ 121% |
| Investment grants15 | - | - | - | - | - | €2,670 | €1,335 | - | - |
| Amounts payable17/49 | €360,070 | €276,046 | €307,349 | €335,808 | €317,845 | €562,202 | €471,548 | €291,031 | ▼ 38.3% |
| Amounts payable after more than one year17 | €5,699 | - | - | - | - | €116,763 | €96,575 | €75,467 | ▼ 21.9% |
| Financial debts170/4 | - | - | - | - | - | €116,763 | €96,575 | €75,467 | ▼ 21.9% |
| Amounts payable within one year42/48 | €354,371 | €276,046 | €307,349 | €335,808 | €317,845 | €445,439 | €374,973 | €215,564 | ▼ 42.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,500 | €93,333 | €114,309 | €110,188 | €21,108 | ▼ 80.8% |
| Trade debts44 | €59,580 | €47,619 | €71,216 | €82,143 | €99,682 | €165,431 | €86,920 | €70,574 | ▼ 18.8% |
| Suppliers440/4 | - | - | - | €82,143 | €99,682 | €165,431 | €86,920 | €70,574 | ▼ 18.8% |
| Taxes, remuneration and social security45 | - | - | - | €171,165 | €124,830 | €165,699 | €127,865 | €123,882 | ▼ 3.1% |
| Taxes450/3 | - | - | - | €99,409 | €57,304 | €103,178 | €67,108 | €52,368 | ▼ 22.0% |
| Remuneration and social security454/9 | - | - | - | €71,756 | €67,526 | €62,521 | €60,757 | €71,514 | ▲ 17.7% |
| Other amounts payable47/48 | - | - | - | €65,000 | - | - | €50,000 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €137,113 | €53,196 | €74,021 | €65,920 | -€118,030 | -€269,215 | €85,220 | -€74,549 | - |
| + Depreciation and write-downs630 | €15,865 | €15,429 | €13,069 | €14,296 | €9,923 | €40,751 | €37,358 | €34,732 | ▼ 7.0% |
| Operating cash flow (approximation) | €152,978 | €68,625 | €87,090 | €80,216 | -€108,107 | -€228,464 | €122,578 | -€39,817 | - |
| Investment in fixed assets (approximation) | - | -€19,060 | -€16,796 | -€6,063 | -€27,821 | -€182,228 | €4,480 | €2,086 | ▼ 53.4% |
| Change in cash | - | -€100,597 | €107,027 | -€312,652 | €112,058 | -€36,713 | -€11,547 | -€114,157 | ▼ 889% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00476920 |
| 31-12-2024 | full format | 25-09-2025 | 2025-00503087 |
| 31-12-2023 | full format | 30-08-2024 | 2024-00427027 |
| 31-12-2022 | full format | 09-06-2023 | 2023-00122875 |
| 31-12-2021 | full format | 31-05-2022 | 2022-20046907 |
| 31-12-2020 | full format | 16-06-2021 | 2021-22200415 |
| 31-12-2019 | full format | 04-06-2020 | 2020-14800129 |
| 31-12-2018 | full format | 01-07-2019 | 2019-26700502 |
| 31-12-2017 | full format | 15-06-2018 | 2018-19100565 |
| 31-12-2016 | full format | 22-05-2017 | 2017-13100057 |
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Of the 11,530 active companies whose main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121), figures are known for 6,772. 5,333 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
2 office holders, last change in 2023
Day-to-day management 2
Martin Veraart
CurrentManaging director · since 08-06-2023
Reda FARES
CurrentManaging director · since 08-06-2023
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
6 of this company's 9 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
2 people since 2023, 2 in office
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Martin Veraart |
|
| Reda FARES |
|
Owners and capital
Capital and shareholders
Capital over the years
- 18-01-2024 Incorporation · FRF 1,000,000 · 200 shares
- 18-01-2024 Capital increase of FRF 1,250,000 · to FRF 2,250,000 · from reserves
- 18-01-2024 Capital reduction of FRF 1,000,000 · to FRF 1,250,000 · repaid to the shareholders
- 18-01-2024 Capital increase of FRF 1,250,000 · to FRF 2,500,000 · from reserves
- 18-01-2024 Capital conversion · €61,973.38
- 18-01-2024 Incorporation · BEF 1,000,000 · 200 shares
- 18-01-2024 Capital increase of BEF 1,250,000 · to BEF 2,250,000 · no new shares · from reserves
- 18-01-2024 Capital reduction of BEF 1,000,000 · to BEF 1,250,000 · repaid to the shareholders
Show 1 older capital entries
- 18-01-2024 Capital increase of BEF 1,250,000 · to BEF 2,500,000 · no new shares · from reserves
Group and network
Connections & network
2 office holdersThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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History
SETESCO Structural Engineers was incorporated on 1 January 1967.1 The registered office was moved to Bruxelles in 2023.2 Since 2024 the company has been called SETESCO Structural Engineers.3 Turnover fell from €1.4m in 2018 to €1.2m in 2022 and headcount from 7.4 full-time equivalents in 2018 to 7.3 in 2025.4
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
financial year 2025 · full format · 31 days late
2025
25-09
NBB filing
Annual accounts filed
financial year 2024 · full format · 56 days late
2024
31-12
Financial
Back to profitnet €85,220
Net result €85,220 after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
financial year 2023 · full format · 30 days late
18-01
Gazette deed
NameName change · Amendment of the articles · Capital10 facts ▸
Gazette deed
Name
Name change · Amendment of the articles · Capital10 facts ▸
- Name change, SETESCO Structural Engineers
- Amendment of the articles (2 times)
- Other provision, “absence de rapport article 7:154 CSA, article 7:154 du Code des sociétés et des associations” (deed in Dutch)
- Capital, €61,973.38
- Founding capital, “FRF 1.000.000” (deed in Dutch)
- Capital increase, “FRF 1.250.000” (deed in Dutch) (2 times)
- Capital decrease, “FRF 1.000.000” (deed in Dutch)
- Capital conversion, 61973.38, EUR
- Registered office clause, “Région de Bruxelles-Capitale, maintenu” (deed in Dutch)
- Power of attorney
2023
31-12
Financial
Weakest financial yearnet -€269,215
Net result drops to -€269,215, the lowest in the series; recovery starts the following year.
02-08
Gazette deed
Reappointments: Reda FARES (managing director) and Martin Veraart (managing director)Registered-office move6 facts ▸
Gazette deed
Reappointments: Reda FARES (managing director) and Martin Veraart (managing director)
Registered-office move6 facts ▸
- General meeting, 07-06-2023
- Director reappointment, Reda FARES (managing director)
- Director reappointment, Martin Veraart (managing director)
- Board meeting, 07-06-2023
- Registered-office move, AVENUE LOUISE, 251 boite 35 - 1er ETAGE - à 1050 BRUXELLES
- Other provision, “form caption on representation powers and signature, instrumenting notary or representative name and capacity” (deed in French)
09-06
NBB filing
Annual accounts filed
financial year 2022 · full format
2022
31-05
NBB filing
Annual accounts filed
financial year 2021 · full format
2021
16-06
NBB filing
Annual accounts filed
financial year 2020 · full format
2020
04-06
NBB filing
Annual accounts filed
financial year 2019 · full format
2019
01-07
NBB filing
Annual accounts filed
financial year 2018 · full format
2018
15-06
NBB filing
Annual accounts filed
financial year 2017 · full format
2017
22-05
NBB filing
Annual accounts filed
financial year 2016 · full format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 49 annual accounts filed, the latest 10 are here; all 49 are under Financials.
An act published in both Dutch and French appears here once.
3 of 9 deeds read
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPublic limited company
Founded01-01-1967
Financial year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0400524282
Registered
04-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 1967
Ground area
1,574 m²
Building footprint
1,579 m²
Building volume
46,471 m³
Parcel 21807G0135/00T003, Brussels · tallest building 46.6 m. Linked by address, not a title deed.
283
companies at this address
See who is registered here
1 establishment unit
Louizalaan 251, 1050 Elsene
since 1967unit no. 2.000.138.119
1 parcel
Brussels
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Berekeningen door te voeren; Verslagen en rapporten op te maken; Plannen en technische nota's aangaande metingen uit te werken…” (deed in French)deed of 18-01-2024
9 activities (deed in French)
- Berekeningen door te voeren
- Verslagen en rapporten op te maken
- Plannen en technische nota's aangaande metingen uit te werken
- Lastenkohieren,bestekken en beschrijvende nota's
- Alle architectenstudies
- Alle studies voor de stabiliteit der gebouwen en de weerstand der materialen alsook alle bijkomende documenten met betrekking tot bouwwerken in gewapend beton,staalbouwwerken,burgerlijke en industriële constructies,zowel privé als openbaar,wegeniswerken,burgerlijke bouwkunde,waterwerken,urbanisatiewerken
- De technische inrichting der gebouwen (engineering)
- Alle studies en technische onderzoekingen,in de meest uitgebreide zin
- Alle deskundige verslagen,artikels,technische en wetenschappelijke verslagen
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimiteddeed of 18-01-2024
- Name clauseThe name the company operates under according to its articles.
- SETESCO Structural Engineersdeed of 18-01-2024
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles Capitale, transfert en tout endroit de la Belgique,ou de la région de langue française de Belgique,par simple décision…” (deed in Dutch)deed of 18-01-2024
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Two directors jointly
- Board ruleHow the board is made up, meets and takes decisions.
- “3, après assemblée générale sur comptes annuels année expiration” (deed in Dutch)
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Nominatives, procédure distincte pour chaque demande d'agrément formulée par chacun des actionnaires” (deed in Dutch)deed of 18-01-2024
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Jour fixé par la loi comme point de départ, autorisation au conseil d'administration d'augmenter le capital” (deed in Dutch)deed of 18-01-2024
- Financial instrumentSecurities other than shares, such as bonds or warrants, the company can issue.
- One provision in the deeddeed of 18-01-2024
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of May at 11:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause que ce soit et à quelque moment que ce soit, assemblée générale délibérant dans formes et conditions prévues…” (deed in Dutch)