SFM+
Annual accounts 2025
abbreviated format, filed on 15-10-2026, 76 days late€39,007
▼ 13.0%
-€4,258
▼ €32,637
-€3,632
▼ €46,873
-€12,310
▼ €96,124
70.8%
▼ 3.6 percentage points
2.16
▼ 0.07
Money flows
no detail for 2025Balance sheet
balance sheet total €314,575 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
70.8%
Higher than 80% of 9,967 companies in 2025.
2.16
Higher than 61% of 9,830 companies in 2025.
-4.1%
Higher than 13% of 9,899 companies in 2025.
SFM+
Middle half of the sector
80% of the sector
Abbreviated accounts in specialised construction (NACE 43)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
314,575 | 316,709 | 371,239 | 374,988 | 423,751 | 242,619 | 193,082 | 138,545 | 137,393 | 175,014 | 41,815 | |
21/28 |
116,451 | 173,789 | 188,651 | 115,163 | 115,228 | 129,476 | 143,363 | 42,545 | 53,182 | 67,364 | - | |
22/27 |
1,451 | 58,789 | 73,651 | 163 | 228 | 14,476 | 28,363 | 42,545 | 53,182 | 67,364 | - | |
23 |
698 | 946 | 1,240 | - | - | - | - | - | - | - | - | |
24 |
753 | 31 | 97 | 163 | 228 | 294 | - | - | - | - | - | |
25 |
- | 57,812 | 72,314 | - | - | 14,182 | - | - | - | - | - | |
28 |
115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | 115,000 | - | - | - | - | |
29/58 |
198,124 | 142,920 | 182,588 | 259,825 | 308,523 | 113,143 | 49,719 | 96,000 | 84,211 | 107,650 | 41,815 | |
40/41 |
133,916 | 119,569 | 170,634 | 258,980 | 258,853 | 90,330 | 49,719 | 95,656 | 59,602 | 82,680 | 40,650 | |
40 |
51,034 | 70,680 | 137,509 | 244,321 | 204,209 | 80,873 | 40,160 | 31,227 | 56,783 | 75,300 | 40,650 | |
41 |
82,882 | 48,889 | 33,125 | 14,659 | 54,644 | 9,457 | 9,559 | 64,429 | 2,819 | 7,380 | - | |
54/58 |
64,208 | 23,351 | 11,954 | 845 | 49,670 | 22,813 | - | 344 | 24,609 | 24,970 | 1,165 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
314,575 | 316,709 | 371,239 | 374,988 | 423,751 | 242,619 | 193,082 | 138,545 | 137,393 | 175,014 | 41,815 | |
10/15 |
222,785 | 235,721 | 166,769 | 155,431 | 131,934 | 94,513 | 75,393 | 60,910 | 46,802 | 28,303 | 23,389 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
10 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | - | - | - | - | - | |
100 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,165 | 1,165 | 1,165 | 1,165 | 1,165 | 240 | 240 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,165 | 1,165 | - | - | - | - | - | |
130 |
1,860 | 1,860 | 1,860 | 1,860 | 1,165 | 1,165 | 1,165 | 1,165 | 1,165 | 240 | 240 | |
14 |
202,325 | 215,261 | 146,309 | 134,971 | 112,169 | 74,748 | 55,628 | 41,145 | 27,037 | 9,463 | 4,549 | |
17/49 |
91,790 | 80,988 | 204,470 | 219,557 | 291,817 | 148,106 | 117,689 | 77,635 | 90,591 | 146,711 | 18,426 | |
17 |
- | 16,891 | 27,186 | - | - | - | 19,050 | 34,716 | 41,644 | 52,609 | - | |
170/4 |
- | 16,891 | 27,186 | - | - | - | 19,050 | 34,716 | 41,644 | 52,609 | - | |
42/48 |
91,790 | 64,097 | 177,284 | 219,557 | 291,817 | 148,106 | 98,639 | 42,919 | 48,947 | 94,102 | 18,426 | |
42 |
- | 10,295 | 10,295 | - | 3,213 | 21,551 | 13,490 | 14,364 | 8,754 | 9,757 | - | |
43 |
824 | 5,798 | 14,928 | 14,819 | 47,322 | 47,322 | 39,361 | 22,079 | - | - | - | |
430/8 |
824 | 5,798 | 14,928 | 14,819 | 47,322 | 47,322 | 39,361 | 22,079 | - | - | - | |
44 |
1,356 | 17,374 | 26,604 | 142,159 | 163,319 | 65,333 | 14,588 | 2,276 | 25,476 | 2,443 | 532 | |
440/4 |
1,356 | 17,374 | 26,604 | 142,159 | 163,319 | 65,333 | 14,588 | 2,276 | 25,476 | 2,443 | 532 | |
46 |
65,000 | - | - | - | 51,817 | - | 20,000 | - | - | - | - | |
45 |
24,610 | 30,630 | 19,630 | 23,400 | 26,146 | 13,900 | 11,200 | 4,200 | 11,015 | 77,950 | 17,894 | |
450/3 |
24,610 | 30,630 | 19,630 | 23,400 | 26,146 | 13,900 | 11,200 | 4,200 | 11,015 | 4,750 | 1,894 | |
454/9 |
- | - | - | - | - | - | - | - | - | 73,200 | 16,000 | |
47/48 |
- | - | 105,827 | 39,179 | - | - | - | - | 3,702 | 3,952 | - | |
| Income statement | ||||||||||||
70 |
- | - | - | - | - | 282,800 | 252,848 | 216,965 | 271,781 | 220,164 | 78,919 | |
9900 |
39,007 | 44,856 | 17,431 | 39,093 | 68,280 | 48,750 | 39,885 | 32,226 | 42,696 | 18,215 | 6,621 | |
60/61 |
- | - | - | 238,998 | 192,498 | 234,050 | 212,963 | 184,739 | 229,086 | 201,949 | 72,297 | |
630 |
626 | 14,862 | 66 | 65 | 14,247 | 14,216 | 14,182 | 10,637 | 14,182 | 4,094 | - | |
640/8 |
42,639 | 1,615 | 370 | 5,988 | 992 | 1,207 | 590 | 1,338 | 874 | 5,612 | - | |
66A |
- | - | - | - | - | - | - | - | - | - | 82 | |
9901 |
-4,258 | 28,379 | 16,995 | 33,040 | 53,041 | 33,327 | 25,113 | 20,251 | 27,640 | 8,509 | 6,621 | |
75/76B |
- | 50,136 | - | - | - | - | - | - | - | - | - | |
76B |
- | 50,136 | - | - | - | - | - | - | - | - | - | |
65/66B |
748 | 1,763 | 1,527 | 1,143 | 620 | 6,156 | 3,630 | 1,478 | 1,151 | 595 | - | |
65 |
748 | 1,763 | 1,527 | 1,143 | 620 | 6,156 | 3,630 | 1,478 | 1,151 | 595 | - | |
9903 |
-5,006 | 76,752 | 15,468 | 31,897 | 52,421 | 27,171 | 21,483 | 18,773 | 26,489 | 7,914 | 6,539 | |
67/77 |
7,930 | 7,800 | 4,130 | 8,400 | 15,000 | 8,051 | 7,000 | 4,665 | 7,990 | 3,000 | 1,750 | |
9904 |
-12,936 | 68,952 | 11,338 | 23,497 | 37,421 | 19,120 | 14,483 | 14,108 | 18,499 | 4,914 | 4,789 | |
9905 |
-12,936 | 68,952 | 11,338 | 23,497 | 37,421 | 19,120 | 14,483 | 14,108 | 18,499 | 4,914 | 4,789 | |
| Appropriation of the result | ||||||||||||
9906 |
202,325 | 215,261 | 146,309 | 135,666 | 112,169 | 74,748 | 55,628 | 41,145 | 27,962 | 9,463 | 4,789 | |
14P |
215,261 | 146,309 | 134,971 | 112,169 | 74,748 | 55,628 | - | - | - | - | - | |
691/2 |
- | - | - | 695 | - | - | - | - | 925 | - | 240 | |
6920 |
- | - | - | 695 | - | - | - | - | 925 | - | 240 | |
| Document | ||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-10-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 76 days after the deadline. Filed on 15 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00562557.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 15-10-2026 | 2026-00562557 | |
| 31-12-2024 | abbreviated format | 26-08-2026 | 2026-00493773 | |
| 31-12-2023 | micro format | 31-10-2024 | 2024-00531306 | |
| 31-12-2022 | micro format | 10-10-2023 | 2023-00484893 | |
| 31-12-2021 | micro format | 17-10-2022 | 2022-20464390 | |
| 31-12-2020 | micro format | 14-06-2022 | 2022-20061545 | |
| 31-12-2019 | micro format | 03-06-2020 | 2020-14300440 | |
| 31-12-2018 | micro format | 20-09-2019 | 2019-65800301 | |
| 31-12-2017 | micro format | 19-09-2018 | 2018-63900295 | |
| 31-12-2016 | full format | 25-09-2017 | 2017-62900373 | |
| 31-12-2015 | full format | 27-09-2016 | 2016-61800257 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -3,632 | 43,241 | 17,061 | 33,105 | 67,288 | 47,543 | 39,295 | 30,888 | 41,822 | 12,603 | - | ||
| -12,310 | 83,814 | 11,404 | 23,562 | 51,668 | 33,336 | 28,665 | 24,745 | 32,681 | 9,008 | - | ||
| 1,099 | 0 | 73,554 | 0 | -1 | 329 | 115,000 | 0 | 141,818 | 71,458 | - | ||
| 40,857 | 11,397 | 11,109 | -48,825 | 26,857 | - | - | -24,265 | -361 | 23,805 | - | ||
| 106,334 | 78,823 | 5,304 | 40,268 | 16,706 | -34,963 | -48,920 | 53,081 | 35,264 | 13,548 | 23,389 | ||
| - | - | - | - | - | 11.8% | 9.9% | 9.3% | 10.2% | 3.9% | 8.4% | ||
| 70.8% | 74.4% | 44.9% | 41.4% | 31.1% | 39.0% | 39.0% | 44.0% | 34.1% | 16.2% | 55.9% | ||
| 2.16 | 2.23 | 1.03 | 1.18 | 1.06 | 0.76 | 0.50 | 2.24 | 1.72 | 1.14 | 2.27 | ||
| 0.41 | 0.34 | 1.23 | 1.41 | 2.21 | 1.57 | 1.56 | 1.27 | 1.94 | 5.18 | 0.79 | ||
| -5.8% | 29.3% | 6.8% | 15.1% | 28.4% | 20.2% | 19.2% | 23.2% | 39.5% | 17.4% | 20.5% | ||
| -4.1% | 21.8% | 3.1% | 6.3% | 8.8% | 7.9% | 7.5% | 10.2% | 13.5% | 2.8% | 11.5% | ||
| -4.86 | 24.53 | 11.17 | 28.96 | over 100 | 7.72 | - | - | - | - | - | ||
| - | - | - | - | - | 104 days | 58 days | 53 days | 76 days | 125 days | 188 days | ||
| - | - | - | 217 days | 310 days | 102 days | 25 days | 4 days | 41 days | 4 days | 3 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,099 | - | €73,554 | - | - |
| €626 | €14,862 | €66 | €65 | €14,247 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on SFM+
The operating result for 2025 is a loss of €4,258, after a profit of €28,379 in 2024. It is the lowest result since 2015.
Debt's share of the balance-sheet total rises from 25.6% to 29.2%. Equity is lower and debt is higher.