SF EXPRESS (BELGIUM)
ActiveThe computed 12-month bankruptcy probability of SF EXPRESS (BELGIUM) is 4.0% (elevated). The 2025 annual accounts show negative equity (€-16k) and a net result of €-289k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 1832 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
22
/ 100
Critical
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency23▲+23
Growth32=
Track record100
Bankruptcy probability, 12 months
4.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.25 against 0.35 in 2024; short-term debt: 80.1% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-2%
Return on assets
-36.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €-16k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-08-2026, 13 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 · 6 filingsDeviation from the deadline
2025
13 d late
2024
28 d late
2023
49 d early
2022
38 d late
2021
4 d early
2020
12 d late
← 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-289k▼ 88.7%
2024 · €-153k
2020: €-11k
2021: €-48k
2022: €-14k
2023: €-1k
2024: €-153k
2020 → 2025
Working capital
€159k
2024 · €-207k
2021: €-26k
2022: €-53k
2024: €-207k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-39k-€-53k▼ 36.6%€-54k▼ 1.9%€-207k▼ 283%€-16k▲ 92.2%
Operating result€-34k-€300€-180€-144k▼ 80,296%€-244k▼ 69.1%
Net result€-48k-€-14k▲ 70.4%€-1k▲ 93.0%€-153k▼ 15,193%€-289k▼ 88.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €244k in 2025 against €144k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €801k
Fixed assets
€468▲ 77.5%
Current assets
€800k▲ 629%
Key figures and ratios
EBITDA
€-244k▼
2024 · €-144k
Cash flow
€-289k▼
2024 · €-153k
Solvency
-2.0%▲
2024 · -188.4%
Current ratio
1.25▲
2024 · 0.35
Quick ratio
1.25▲
2024 · 0.35
Debt / equity
-50.58▼
2024 · -1.53
ROA
-36.1%▲
2024 · -139.2%
Interest coverage
-5.40▲
2024 · -16.40
Debt
€817k▲
2024 · €317k
Debt ≤ 1 year
€641k▲
2024 · €317k
Staff costs
€487k▲
2024 · €180k
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€110k€801k▲
Fixed assets21/28€264€468▲
Tangible fixed assets22/27€264€468▲
Furniture and vehicles24€264€468▲
Current assets29/58€110k€800k▲
Amounts receivable within one year40/41€109k€795k▲
Trade receivables40€474€340k▲
Other amounts receivable41€109k€455k▲
Deferred charges and accrued income490/1€669€5k▲
Equity and liabilities
Total equity and liabilities10/49€110k€801k▲
Equity10/15€-207k€-16k▲
Contributions10/11€20k€500k▲
Profit (loss) carried forward14€-227k€-516k▼
Amounts payable17/49€317k€817k▲
Amounts payable within one year42/48€317k€641k▲
Financial debts43€31k€0▼
Credit institutions430/8€31k€0▼
Trade debts44€47k€320k▲
Suppliers440/4€47k€320k▲
Taxes, remuneration and social security45€35k€63k▲
Remuneration and social security454/9€35k€63k▲
Other amounts payable47/48€204k€258k▲
Accrued charges and deferred income492/3-€176k
Income statement
Code20242025
Remuneration, social security and pensions62€180k€487k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7€86▲
Other operating charges640/8-€765
Gross operating margin9900€35k€244k▲
Operating profit (loss)9901€-144k€-244k▼
Financial income75/76B€0€257▲
Recurring financial income75€0€257▲
Financial charges65/66B€9k€45k▲
Recurring financial charges65€9k€45k▲
Profit (loss) for the period before taxes9903€-153k€-289k▼
Profit (loss) for the period9904€-153k€-289k▼
Profit (loss) for the period to be appropriated9905€-153k€-289k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-227k€-516k▼
Profit (loss) brought forward from the previous period14P€-74k€-227k▼
Social balance
Average headcount (FTE)90872.65.3▲
The notes to these accounts (7 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
13-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 13 days late
2025
31-12
Financial
Weakest financial yearnet €-289k
Net result drops to €-289k, the lowest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 1.25
Current ratio from 0.35 to 1.25.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 38 days late
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Grâce-Hollogne · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Saint-Exupéry 17A4460 Grâce-HollogneGround area
3.0 ha
Building footprint
6,299 m²
Volume, LiDAR
89,849 m³
Parcel 62016B0333/00A000, Wallonia · tallest building 16.4 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
SF EXPRESS (BELGIUM)
since 20202.321.653.032
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62016B0333/00A000 | Wallonia | 3.0 ha | 1 · 6,299 m² | 16.4 m · 5 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.
Similar companies · same sector, comparable size
BMA TRANSPORT
BE 1023.524.006
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Munlogistic
BE 1007.514.353
Grâce-Hollogne · Eq €9k
AYBARS GROUP
BE 0797.646.242
Ans · Eq €9k
Gillardin T
BE 0690.533.694
Zemst · Eq €9k
ZEN TRANSPORT
BE 1015.834.478
Puurs-Sint-Amands · Eq €9k
Of 12,606 companies in sector 49410 we hold annual accounts for 8,195. 3,722 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-02-2020
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
50200Water transport
51210Air transport
52250Logistics services
52290Warehousing and support activities for transportation
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.