Equity
€40,415 from €283,922 in 2010
Equity fell by 86% in 15 years.
SETI
Lifetime
16 annual accounts with figures on one time axis, 23 filings since 2003peak €283,603 (2012)
€61,495▼ 12.3%
lowest -€78,318 (2014)
€11,839▼ 41.2%
peak €283,922 (2010)
€40,415▲ 41.4%
€243,390▼ 3.5%
peak 14.9 FTE (2012)
-not published
Board4 names since 2021
4 directorsMONTORRO Sergio and 3 others
Documentsfilings and deeds
31-08-202631 days late
2025micro format
Gross margin from €70,143 to €61,495Result from €20,145 to €11,8393 directors reappointed 24-03Equity from €28,576 to €40,415
Key points
from the 2025 annual accountsTurnover
≈ €150,000 estimated
The accounts state no turnover.
Debts
€243,390 86% of the balance sheet
Financial debts 82%Suppliers 1%Taxes and wages 1%Other 16%
Of this, €4,506 falls due within a year.
Liquidity
42.51 was 11.29 in 2024
Short-term debts fell from €13,381 to €4,506.
Filings
23 annual accounts since 2003
Seven of the last ten came late. The 2019 accounts came latest: 90 days after the end of the period.
Board
1 joined
New director. Latest change 01-01-2026 · 4 in office.
Checked score
92
Excellent
Financially stronger than 64% of micro companies in repair of computers and personal goods (NACE 95)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 5,138 companies (NACE 95, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025highest value
09-2025: 0.2%▼ -0.2 percentage points vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026lowest value
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026
09-2026: 0.2%▼ -0.1 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 31 days late; 1 of the last 3 accounts late
Equity €40,415 (14.2% of total assets)
lowers risk
Liquidity: current ratio 42.51, cash €189,568
Founded in 2002
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 (NACE 95, micro). It does better than 26% of them on solvency, 98% on liquidity, 50% on profitability and 82% 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 31-12-2025.
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, 3,984 companies had the same profile as SETI has now. Each dot stands for 10 companies, two years later.
96.5%
were still trading
2.3%
stopped another way
1.1%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SETI itself: 0.2% within 12 months.
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 3,984 companies, not a prediction for SETI. 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 €3,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 42.51 (11.29 in 2024), above the usual 1.5. Short-term debt is 1.6% and cash 66.8% of total assets. However, 85.8% of the assets are financed with debt and provisions.
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €40,415
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
29 days late
2023
12 days late
2022
11 days late
2021
6 days early
2020
19 days early
2019
90 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 21 days after the deadline. In the sector (NACE 95), the median for financial year 2024 was on the deadline day, and 47% 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 13 August (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 today31-12-2026 year end31-07-2027 deadline
Recent changes
Appointment: Montorro Adriano (director)
General meeting of 02-01-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0478491496
3 directors reappointed
MONTORRO Sergio (managing director), MONTORRO Alessandro and MONTORRO Fabrizio · General meeting of 01-07-2024 · Gazette deed
Internal security service licence withdrawn
Decision of 21-10-2019, published on 02-12-2020
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SETI Evere | - | - | 14.2% | - |
| RM QUALITY Roeselare | - | - | 94.3% | - |
| CWAS Roeselare | €0.4m | 2.5% | 34.6% | - |
| Fabrice ROGER Ixelles | €1.0m | 0.5% | 4.7% | - |
| Trullemans Anderlecht | - | - | 65.3% | - |
| CAR CLEAN SERVICES Aartselaar | - | - | -36.0% | - |
| TUNA CAR CLEANING Ravels | - | - | 98.6% | - |
These companies have the same main activity as SETI: washing and cleaning of motor vehicles (NACE 95316). They are comparable in size and age: total assets between €214,000 and €436,000, founded between 1997 and 2007.
Official details
Source: KBO- Status
- Active since 30-09-2002Normal situation
- Activity
- Washing and cleaning of motor vehiclesNACE 95316
- Joint committee
- 302Hotels and catering · annual accounts 2024
- Establishment unit
- 2.273.865.6841950 Kraainem, since 06-01-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 12-01-2026
Insights on SETI
SETI files the micro format. That format states no turnover. The gross margin fell from €274,295 in 2010 to €61,495 in 2025.
The balance sheet grew most from 2017 to 2018 through fixed assets, financed with long-term debt.
In March 2025, the Official Gazette published the appointment of MONTORRO Sergio as managing director.
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 SETI
- What is the company number of SETI?
- The company number of SETI is 0478.491.496. The VAT number is the same number with BE in front: BE 0478.491.496.
- Where is SETI based?
- The registered office is at G. De Lombaerdestraat 49, 1140 Evere.Company details
- What does SETI do?
- According to the KBO register, the main activity is washing and cleaning of motor vehicles (NACE 95316).
- What is the legal form of SETI?
- SETI is a public limited company (NV).
- When was SETI founded?
- SETI was founded on 30-09-2002.
- Is SETI still active?
- Yes, SETI is an active enterprise in the KBO register.
- How many employees does SETI have?
- SETI had an average of 8.3 full-time equivalents in financial year 2018, according to the filed annual accounts.Financials
- Which joint committee does SETI fall under?
- In its 2024 annual accounts, SETI states joint committee 302 (Hotels and catering).
- What is the turnover of SETI?
- The turnover in financial year 2025 is ≈ €150,000. This figure is estimated from the gross margin of €61,495 and 33 comparable companies (NACE 953). It probably lies between €110,000 and €200,000.
- Is SETI profitable?
- In financial year 2025, SETI made a profit of €11,839.
- Where can I find the annual accounts of SETI?
- SETI filed 23 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SETI due?
- SETI must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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