SFK
ActiveSummary
SFK has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €544,160 and a net result of €44,641. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 29% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-1
Solvency35▼-6
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.16 in 2024; short-term debt: 25.4% and cash: 0.2% of total assets), and 90% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
10%
Return on assets
0.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 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
52 d late
2024
29 d late
2023
2 d late
2022
23 d late
2021
11 d early
2020
24 d late
2019
318 d late
← 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 62 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€544,160▲ 8.9%
2024 · €499,519
Total assets
€5.4m▲ 70.9%
2024 · €3.2m
Net result
€44,641▲ 322%
2024 · €10,579
Working capital
-€1.3m▼ 21.6%
2024 · -€1.0m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€35,620€222,653▲ 525%€118,199▼ 46.9%€58,885▼ 50.2%€124,369▲ 111%
Net result€18,824within the sector's middle half€199,263above the sector's middle half▲ 959%€90,675above the sector's middle half▼ 54.5%€10,579within the sector's middle half▼ 88.3%€44,641within the sector's middle half▲ 322%
Equity€199,001within the sector's middle half▲ 10.4%€398,264above the sector's middle half▲ 100%€488,940above the sector's middle half▲ 22.8%€499,519above the sector's middle half▲ 2.2%€544,160within the sector's middle half▲ 8.9%
Total assets€1.6mabove the sector's middle half▲ 0.6%€2.4mabove the sector's middle half▲ 51.2%€3.0mabove the sector's middle half▲ 21.8%€3.2mabove the sector's middle half▲ 7.3%€5.4mabove the sector's middle half▲ 70.9%
Debt€1.4m▼ 0.7%€2.0m▲ 44.3%€2.5m▲ 21.6%€2.7m▲ 8.4%€4.9m▲ 82.5%
Working capital-€526,532▲ 20.1%-€707,725▼ 34.4%-€811,784▼ 14.7%-€1.0m▼ 29.1%-€1.3m▼ 21.6%
Solvency12.3%within the sector's middle half▲ 1.1pp16.3%within the sector's middle half▲ 4.0pp16.5%within the sector's middle half▲ 0.1pp15.7%within the sector's middle half▼ 0.8pp10.0%within the sector's middle half▼ 5.7pp
Staff (FTE)11
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 111% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.4m
Fixed assets
€5.3m ▲ 78.8%
Current assets
€110,181 ▼ 45.6%
Equity and liabilities €5.4m
Equity
€544,160 ▲ 8.9%
Debt
€4.9m ▲ 82.5%
Debt's share of the balance-sheet total rises from 84.3% to 90.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€450,443▲
2024 · €280,986
Cash flow
€370,715▲
2024 · €232,680
Current ratio
0.08▼
2024 · 0.16
Debt to equity
9.01▲
2024 · 5.38
ROE
8.2%▲
2024 · 2.1%
ROA
0.8%▲
2024 · 0.3%
Interest coverage
5.69▼
2024 · 5.81
Debt ≤ 1 year
€1.4m▲
2024 · €1.3m
Debt > 1 year
€3.5m▲
2024 · €1.4m
Income taxes
€578
Staff costs
€71,147▲
2024 · €47,751
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,445 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.9%
went bankrupt
2.0%
stopped otherwise
96%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,445 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €62,681 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | €27,643 | €45,214 | €47,751 | €71,147 | ▲ 49.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €73,109 | €116,617 | €165,045 | €222,101 | €326,074 | ▲ 46.8% |
| Other operating charges640/8 | €953 | €7,261 | €8,908 | €4,790 | €71,698 | ▲ 1,397% |
| Non-recurring operating charges66A | - | - | - | - | €460 | - |
| Gross operating margin9900 | €109,681 | €374,174 | €337,367 | €333,527 | €593,748 | ▲ 78.0% |
| Operating profit (loss)9901 | €35,620 | €222,653 | €118,199 | €58,885 | €124,369 | ▲ 111% |
| Financial income75/76B | €10 | €0 | €11,428 | €36 | €70 | ▲ 90.5% |
| Recurring financial income75 | €10 | €0 | €11,428 | €36 | €70 | ▲ 90.5% |
| Financial charges65/66B | €16,806 | €23,389 | €37,310 | €48,342 | €79,219 | ▲ 63.9% |
| Recurring financial charges65 | €16,806 | €23,389 | €37,310 | €48,342 | €79,219 | ▲ 63.9% |
| Profit (loss) for the period before taxes9903 | €18,824 | €199,263 | €92,317 | €10,579 | €45,219 | ▲ 327% |
| Income taxes67/77 | - | - | €1,642 | - | €578 | - |
| Profit (loss) for the period9904 | €18,824 | €199,263 | €90,675 | €10,579 | €44,641 | ▲ 322% |
| Profit (loss) for the period to be appropriated9905 | €18,824 | €199,263 | €90,675 | €10,579 | €44,641 | ▲ 322% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.4m | €3.0m | €3.2m | €5.4m | ▲ 70.9% |
| Fixed assets21/28 | €1.3m | €2.0m | €2.6m | €3.0m | €5.3m | ▲ 78.8% |
| Tangible fixed assets22/27 | €1.2m | €1.9m | €2.5m | €2.9m | €5.1m | ▲ 78.0% |
| Land and buildings22 | €1.2m | €1.9m | €2.5m | €2.9m | €5.1m | ▲ 77.3% |
| Plant, machinery and equipment23 | €451 | €359 | €14,542 | €11,391 | €20,157 | ▲ 77.0% |
| Furniture and vehicles24 | €18,190 | €14,182 | €10,175 | €6,626 | €32,493 | ▲ 390% |
| Other tangible fixed assets26 | - | - | - | - | €1,698 | - |
| Financial fixed assets28 | €134,229 | €114,229 | €114,229 | €114,229 | €227,229 | ▲ 98.9% |
| Current assets29/58 | €293,568 | €389,164 | €325,465 | €202,450 | €110,181 | ▼ 45.6% |
| Stocks and contracts in progress3 | €6,250 | - | €100,760 | - | - | - |
| Stocks30/36 | €6,250 | - | €100,760 | - | - | - |
| Amounts receivable within one year40/41 | €139,176 | €373,897 | €219,738 | €176,576 | €99,467 | ▼ 43.7% |
| Trade receivables40 | €139,176 | €223,975 | €68,755 | €25,353 | €70,668 | ▲ 179% |
| Other amounts receivable41 | - | €149,922 | €150,982 | €151,223 | €28,799 | ▼ 81.0% |
| Cash at bank and in hand54/58 | €142,264 | €2,470 | €4,968 | €25,874 | €10,714 | ▼ 58.6% |
| Deferred charges and accrued income490/1 | €5,878 | €12,796 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.4m | €3.0m | €3.2m | €5.4m | ▲ 70.9% |
| Equity10/15 | €199,001 | €398,264 | €488,940 | €499,519 | €544,160 | ▲ 8.9% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | €100,000 | - | - | - | - |
| Issued capital100 | - | €100,000 | - | - | - | - |
| Outside capital11 | €100,000 | - | €100,000 | €100,000 | €100,000 | = |
| Other1109/19 | €100,000 | - | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Non-distributable reserves130/1 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves not available under the articles1311 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €89,001 | €288,264 | €378,940 | €389,519 | €434,160 | ▲ 11.5% |
| Amounts payable17/49 | €1.4m | €2.0m | €2.5m | €2.7m | €4.9m | ▲ 82.5% |
| Amounts payable after more than one year17 | €592,265 | €940,814 | €1.3m | €1.4m | €3.5m | ▲ 152% |
| Financial debts170/4 | €592,265 | €940,814 | €1.3m | €1.4m | €3.5m | ▲ 152% |
| Amounts payable within one year42/48 | €820,100 | €1.1m | €1.1m | €1.3m | €1.4m | ▲ 10.7% |
| Current portion of amounts payable after more than one year42 | €14,647 | €37,112 | €73,166 | €72,557 | €101,267 | ▲ 39.6% |
| Financial debts43 | - | €135,000 | €285,000 | €135,000 | - | - |
| Credit institutions430/8 | - | €135,000 | €285,000 | €135,000 | - | - |
| Trade debts44 | €11,297 | €88,452 | €28,670 | €263,082 | €472,116 | ▲ 79.5% |
| Suppliers440/4 | €11,297 | €88,452 | €28,670 | €263,082 | €472,116 | ▲ 79.5% |
| Taxes, remuneration and social security45 | €51,252 | €10,920 | €12,767 | €12,346 | €16,927 | ▲ 37.1% |
| Taxes450/3 | €51,252 | €2,066 | €2,741 | €540 | €649 | ▲ 20.2% |
| Remuneration and social security454/9 | - | €8,854 | €10,027 | €11,806 | €16,278 | ▲ 37.9% |
| Other amounts payable47/48 | €742,905 | €825,405 | €737,646 | €767,148 | €793,474 | ▲ 3.4% |
| Accrued charges and deferred income492/3 | - | - | €30,879 | €40,323 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,824 | €199,263 | €90,675 | €10,579 | €44,641 | ▲ 322% |
| + Depreciation and write-downs630 | €73,109 | €116,617 | €165,045 | €222,101 | €326,074 | ▲ 46.8% |
| Operating cash flow (approximation) | €91,933 | €315,881 | €255,721 | €232,680 | €370,715 | ▲ 59.3% |
| Investment in fixed assets (approximation) | - | -€845,622 | -€760,551 | -€562,985 | -€2.7m | ▼ 376% |
| Change in cash | - | -€139,793 | €2,498 | €20,906 | -€15,160 | ▼ 173% |
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
Next filing, fiscal year 2026, expected by
2026
21-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 52 days late
2025
31-12
Financial
Equity above €500,000Eq €544,160 ▲8.9%
5 profitable years in a row build equity to €544,160.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
31-12
Financial
Highest result since 2018net €199,263 ▲959%
Operating result €222,653, net result €199,263, both a record.
31-12
Financial
Equity above €200,000Eq €398,264 ▲100%
2 profitable years in a row build equity to €398,264.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €18,824
Net result €18,824 after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
14-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 318 days late
2020
31-12
Financial
Weakest financial yearnet -€87,527
Net result drops to -€87,527, the lowest in the series; recovery starts the following year.
Show earlier events
2019
05-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 36 days late
18-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 230 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Namur · 2 establishment units since 2015
Ground area
2,237 m²
Building footprint
495 m²
Volume, LiDAR
3,771 m³
2 parcels, Wallonia · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Rue du Centre(SM) 117, 5003 Namur
since 20152.245.912.858
Gîte
since 20212.333.283.629
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84030B0121/00K000 | Wallonia | 1,363 m² | 1 · 436 m² | 10.8 m · 3 fl. |
| 92106A0089/00Y004 | Wallonia | 874 m² | 1 · 59 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 4,623 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
Founded04-06-2015
Fiscal year end31-12
Activities, NACEBEL 2025
55203Holiday cottages, homes and apartments
68121Development of residential building projects
61200Telecommunications resale and intermediation services
62100Computer programming
70200Business and other management consultancy
82300Organisation of conventions and trade shows
90391Promotion and organisation of arts and performing arts events
Contact
E-mail
frederic.javay@speed-works.beBertrix
Phone
+32474990431Bertrix
E-invoicing
Reachable via Peppol
Peppol ID
0208:0631769017
Also
9925:BE0631769017
Registered
12-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.