SETIM
ActiveSummary
SETIM has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €902,335 and a net result of €498,038. Equity is growing by ~7.9% per year across the filed fiscal years. Its solvency ranks better than 23% of 95 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability88▲+2
Solvency52=
Growth78=
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 tight (current ratio 1.15 against 1.18 in 2023; short-term debt: 56.4% and cash: 13.2% of total assets), and 72.6% of the assets are financed with debt.
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Signals
Five 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
27.4%
Return on assets
15.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 95 sector peers (2024).
NBB · sector comparisonPosition among 95 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-07-2025, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
8 d early
2023
8 d late
2022
31 d late
2021
25 d late
2020
23 d late
2019
49 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 21 days after the deadline; the sector median for financial year 2024 is 21 days before the deadline, and 31% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#6 company by total assets in the province of Luxembourg, Mining and quarrying sector#7 company by equity in Attert
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€498,038▲ 11.7%
2023 · €445,944
Working capital
€279,567▼ 8.4%
2023 · €305,345
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€41,241▼ 50.5%€459,792▲ 1,015%€473,997▲ 3.1%€607,261▲ 28.1%€655,341▲ 7.9%
Net result€22,490▼ 62.5%€398,106▲ 1,670%€346,237▼ 13.0%€445,944▲ 28.8%€498,038▲ 11.7%
Equity€639,010▲ 3.6%€762,116▲ 19.3%€758,353▼ 0.5%€904,297▲ 19.2%€902,335▼ 0.2%
Total assets€2.8m▲ 12.3%€3.9m▲ 37.3%€3.6m▼ 6.4%€3.3m▼ 8.8%€3.3m▼ 0.3%
Debt€2.2m▲ 15.1%€3.1m▲ 42.5%€2.9m▼ 8.0%€2.4m▼ 16.2%€2.4m▼ 0.3%
Working capital€359,993▲ 6.9%€287,596▼ 20.1%€350,907▲ 22.0%€305,345▼ 13.0%€279,567▼ 8.4%
Staff (FTE)6.1▲ 15.1%7.3▲ 19.7%7.2▼ 1.4%7▼ 2.8%7=
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 8% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.3m
Fixed assets
€1.2m ▼ 12.7%
Current assets
€2.1m ▲ 8.0%
Equity and liabilities €3.3m
Equity
€902,335 ▼ 0.2%
Provisions
€0 ▼ 100%
Debt
€2.4m ▼ 0.3%
Debt's share of the balance-sheet total stays at 72.6%.
Key figures and ratios
EBITDA
€1.2m▼
2023 · €1.3m
Cash flow
€1.1m▼
2023 · €1.1m
Current ratio
1.15▼
2023 · 1.18
Quick ratio
1.11▼
2023 · 1.16
Debt to equity
2.65▼
2023 · 2.65
ROE
55.2%▲
2023 · 49.3%
ROA
15.1%▲
2023 · 13.5%
Interest coverage
43.07▼
2023 · 47.35
Debt ≤ 1 year
€1.9m▲
2023 · €1.7m
Debt > 1 year
€530,441▼
2023 · €722,707
Income taxes
€170,669▲
2023 · €157,662
Staff costs
€400,216▲
2023 · €389,905
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €899 | - | €87,000 | - |
| Remuneration, social security and pensions62 | - | €369,459 | €363,214 | €389,905 | €400,216 | ▲ 2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €554,394 | €582,457 | €704,379 | €661,148 | €583,646 | ▼ 11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €6,522 | €32,616 | €8,744 | €25,792 | ▲ 195% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €2,500 | - | -€2,500 | - |
| Other operating charges640/8 | - | €27,219 | €27,428 | €28,061 | €27,797 | ▼ 0.9% |
| Non-recurring operating charges66A | - | €5,209 | - | €6 | - | - |
| Gross operating margin9900 | €916,070 | €1.5m | €1.6m | €1.7m | €1.7m | ▼ 0.3% |
| Operating profit (loss)9901 | €41,241 | €459,792 | €473,997 | €607,261 | €655,341 | ▲ 7.9% |
| Financial income75/76B | - | €3,966 | €11,648 | €23,135 | €42,133 | ▲ 82.1% |
| Recurring financial income75 | €6,628 | €3,966 | €11,648 | €23,135 | €42,133 | ▲ 82.1% |
| Financial charges65/66B | - | €25,237 | €31,316 | €26,790 | €28,767 | ▲ 7.4% |
| Recurring financial charges65 | €24,818 | €25,237 | €31,316 | €26,790 | €28,767 | ▲ 7.4% |
| Profit (loss) for the period before taxes9903 | €23,051 | €438,520 | €454,328 | €603,606 | €668,707 | ▲ 10.8% |
| Income taxes67/77 | €560 | €40,415 | €108,091 | €157,662 | €170,669 | ▲ 8.3% |
| Profit (loss) for the period9904 | €22,490 | €398,106 | €346,237 | €445,944 | €498,038 | ▲ 11.7% |
| Profit (loss) for the period to be appropriated9905 | €22,490 | €398,106 | €346,237 | €445,944 | €498,038 | ▲ 11.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €3.9m | €3.6m | €3.3m | €3.3m | ▼ 0.3% |
| Fixed assets21/28 | €1.7m | €2.2m | €1.6m | €1.3m | €1.2m | ▼ 12.7% |
| Intangible fixed assets21 | €15,902 | €9,153 | €2,404 | - | - | - |
| Tangible fixed assets22/27 | €1.7m | €2.2m | €1.6m | €1.3m | €1.2m | ▼ 12.8% |
| Land and buildings22 | - | €92,742 | €73,520 | €139,797 | €112,940 | ▼ 19.2% |
| Plant, machinery and equipment23 | - | €1.4m | €954,963 | €799,234 | €832,276 | ▲ 4.1% |
| Furniture and vehicles24 | - | €10,587 | €18,263 | €12,108 | €5,471 | ▼ 54.8% |
| Leasing and similar rights25 | - | €755,768 | €559,354 | €372,326 | €204,026 | ▼ 45.2% |
| Financial fixed assets28 | €695 | €695 | €695 | €695 | €695 | = |
| Current assets29/58 | €1.1m | €1.6m | €2.0m | €2.0m | €2.1m | ▲ 8.0% |
| Stocks and contracts in progress3 | €129,958 | €135,369 | €46,182 | €40,348 | €69,386 | ▲ 72.0% |
| Stocks30/36 | - | €135,369 | €46,182 | €40,348 | €69,386 | ▲ 72.0% |
| Amounts receivable within one year40/41 | €687,427 | €1.2m | €1.8m | €1.7m | €1.6m | ▼ 3.5% |
| Trade receivables40 | - | €899,475 | €971,147 | €594,851 | €743,280 | ▲ 25.0% |
| Other amounts receivable41 | - | €321,340 | €815,390 | €1.1m | €856,724 | ▼ 19.5% |
| Cash at bank and in hand54/58 | €237,261 | €238,565 | €150,811 | €250,411 | €434,258 | ▲ 73.4% |
| Deferred charges and accrued income490/1 | - | €35,976 | €28,690 | €29,370 | €32,568 | ▲ 10.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €3.9m | €3.6m | €3.3m | €3.3m | ▼ 0.3% |
| Equity10/15 | €639,010 | €762,116 | €758,353 | €904,297 | €902,335 | ▼ 0.2% |
| Contributions10/11 | - | €375,000 | €375,000 | €375,000 | €375,000 | = |
| Reserves13 | €241,520 | €241,520 | €241,520 | €241,520 | €241,520 | = |
| Distributable reserves133 | - | €241,520 | €241,520 | €241,520 | €241,520 | = |
| Profit (loss) carried forward14 | €22,490 | €145,596 | €141,833 | €287,777 | €285,815 | ▼ 0.7% |
| Provisions and deferred taxes16 | - | - | €2,500 | €2,500 | - | - |
| Provisions for liabilities and charges160/5 | - | - | €2,500 | €2,500 | - | - |
| Other liabilities and charges164/5 | - | - | €2,500 | €2,500 | - | - |
| Amounts payable17/49 | €2.2m | €3.1m | €2.9m | €2.4m | €2.4m | ▼ 0.3% |
| Amounts payable after more than one year17 | €1.5m | €1.8m | €1.2m | €722,707 | €530,441 | ▼ 26.6% |
| Financial debts170/4 | - | €1.8m | €1.2m | €722,707 | €530,441 | ▼ 26.6% |
| Amounts payable within one year42/48 | €719,019 | €1.3m | €1.7m | €1.7m | €1.9m | ▲ 10.9% |
| Current portion of amounts payable after more than one year42 | - | €721,023 | €707,911 | €766,575 | €650,227 | ▼ 15.2% |
| Trade debts44 | €195,170 | €276,201 | €473,344 | €536,226 | €633,331 | ▲ 18.1% |
| Suppliers440/4 | - | €276,201 | €473,344 | €536,226 | €633,331 | ▲ 18.1% |
| Taxes, remuneration and social security45 | - | €71,154 | €130,058 | €70,736 | €73,090 | ▲ 3.3% |
| Taxes450/3 | - | €42,248 | €99,774 | €38,676 | €21,255 | ▼ 45.0% |
| Remuneration and social security454/9 | - | €28,906 | €30,284 | €32,061 | €51,835 | ▲ 61.7% |
| Other amounts payable47/48 | - | €274,751 | €350,000 | €300,000 | €500,000 | ▲ 66.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,200 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,490 | €398,106 | €346,237 | €445,944 | €498,038 | ▲ 11.7% |
| + Depreciation and write-downs630 | €554,394 | €582,457 | €704,379 | €661,148 | €583,646 | ▼ 11.7% |
| Operating cash flow (approximation) | €576,884 | €980,562 | €1.1m | €1.1m | €1.1m | ▼ 2.3% |
| Investment in fixed assets (approximation) | - | -€1.1m | -€73,870 | -€376,110 | -€414,895 | ▼ 10.3% |
| Change in cash | - | €1,303 | -€87,753 | €99,600 | €183,847 | ▲ 84.6% |
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
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €498,038 ▲11.7%
Operating result €655,341, net result €498,038, both a record.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 8 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 25 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 49 days late
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 21 days late
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 7 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Attert · 1 establishment unit since 2001
Ground area
1,636 m²
Parcel 81022B2275/00A000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Tontelange 2, 6717 Attert
since 20012.094.363.820
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 81022B2275/00A000 | Wallonia | 1,636 m² | - | - |
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.
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Of 12 companies in sector 08121 we hold annual accounts for 11. 8 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-03-2001
Fiscal year end31-12
Activities, NACEBEL 2025
08121Other mining and quarrying
08122Other mining and quarrying
43120Site preparation
Contact
E-mail
info@setim.be
Scores and ratios are computed by Checked and are not a credit decision.