SG MANAGEMENT
ActiveSummary
SG MANAGEMENT has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €557,900 and a net result of -€10,096. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 89% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability17▼-66
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 11.97 against 27.27 in 2024; short-term debt: 5.9% and cash: 24.9% of total assets), and 9.5% 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
90.5%
Return on assets
-1.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
22 d early
2023
20 d early
2022
18 d early
2021
37 d early
2020
31 d early
2019
24 d early
← 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 25 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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. Usually files around 9 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€557,900▼ 24.4%
2024 · €737,996
Total assets
€616,348▼ 21.9%
2024 · €789,667
Net result
-€10,096
2024 · €92,619
Working capital
€399,197▼ 30.8%
2024 · €576,615
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€136,875▼ 7.5%€148,164▲ 8.2%€184,072▲ 24.2%€123,829▼ 32.7%-€18,195
Net result€96,534above the sector's middle half▲ 4.3%€98,943above the sector's middle half▲ 2.5%€145,020above the sector's middle half▲ 46.6%€92,619above the sector's middle half▼ 36.1%-€10,096below the sector's middle half
Equity€508,416above the sector's middle half▲ 23.4%€540,358above the sector's middle half▲ 6.3%€645,378above the sector's middle half▲ 19.4%€737,996above the sector's middle half▲ 14.4%€557,900above the sector's middle half▼ 24.4%
Total assets€601,760above the sector's middle half▲ 10.5%€654,620above the sector's middle half▲ 8.8%€718,525above the sector's middle half▲ 9.8%€789,667above the sector's middle half▲ 9.9%€616,348above the sector's middle half▼ 21.9%
Debt€93,344▼ 29.6%€114,262▲ 22.4%€73,147▼ 36.0%€51,670▼ 29.4%€58,448▲ 13.1%
Working capital€359,061above the sector's middle half▲ 24.2%€386,199above the sector's middle half▲ 7.6%€484,939above the sector's middle half▲ 25.6%€576,615above the sector's middle half▲ 18.9%€399,197above the sector's middle half▼ 30.8%
Solvency84.5%above the sector's middle half▲ 8.8pp82.5%above the sector's middle half▼ 1.9pp89.8%above the sector's middle half▲ 7.3pp93.5%above the sector's middle half▲ 3.6pp90.5%above the sector's middle half▼ 2.9pp
Current ratio14.08above the sector's middle half▲ 7.847.46above the sector's middle half▼ 6.6216.18above the sector's middle half▲ 8.7227.27above the sector's middle half▲ 11.0811.97above the sector's middle half▼ 15.29
Return on assets (ROA)16.0%within the sector's middle half▼ 1.0pp15.1%within the sector's middle half▼ 0.9pp20.2%within the sector's middle half▲ 5.1pp11.7%within the sector's middle half▼ 8.5pp-1.6%below the sector's middle half▼ 13.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €18,195 after €123,829 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €616,348
Fixed assets
€180,773 ▼ 5.4%
Current assets
€435,575 ▼ 27.2%
Equity and liabilities €616,348
Equity
€557,900 ▼ 24.4%
Debt
€58,448 ▲ 13.1%
Debt's share of the balance-sheet total rises from 6.5% to 9.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€7,869▼
2024 · €134,381
Cash flow
€230▼
2024 · €103,171
Debt to equity
0.10▲
2024 · 0.07
ROE
-1.8%▼
2024 · 12.5%
Interest coverage
-4.16▼
2024 · 49.58
Debt ≤ 1 year
€36,378▲
2024 · €21,954
Debt > 1 year
€18,209▼
2024 · €29,709
Income taxes
-€2,465▼
2024 · €38,147
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 8,611 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,432 | €10,408 | €10,898 | €10,552 | €10,325 | ▼ 2.1% |
| Other operating charges640/8 | €2,209 | €2,926 | €1,662 | €2,078 | €1,017 | ▼ 51.1% |
| Gross operating margin9900 | €154,516 | €161,498 | €196,632 | €136,459 | -€6,852 | ▼ 105% |
| Operating profit (loss)9901 | €136,875 | €148,164 | €184,072 | €123,829 | -€18,195 | ▼ 115% |
| Financial income75/76B | €5,406 | €7,960 | €9,841 | €9,647 | €7,524 | ▼ 22.0% |
| Recurring financial income75 | €5,406 | €7,960 | €9,841 | €9,647 | €7,524 | ▼ 22.0% |
| Financial charges65/66B | €1,935 | €3,827 | €2,718 | €2,711 | €1,890 | ▼ 30.3% |
| Recurring financial charges65 | €1,935 | €3,827 | €2,718 | €2,711 | €1,890 | ▼ 30.3% |
| Profit (loss) for the period before taxes9903 | €140,345 | €152,296 | €191,195 | €130,765 | -€12,561 | ▼ 110% |
| Income taxes67/77 | €43,811 | €53,354 | €46,175 | €38,147 | -€2,465 | ▼ 106% |
| Profit (loss) for the period9904 | €96,534 | €98,943 | €145,020 | €92,619 | -€10,096 | ▼ 111% |
| Profit (loss) for the period to be appropriated9905 | €96,534 | €98,943 | €145,020 | €92,619 | -€10,096 | ▼ 111% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €601,760 | €654,620 | €718,525 | €789,667 | €616,348 | ▼ 21.9% |
| Fixed assets21/28 | €215,255 | €208,651 | €201,651 | €191,099 | €180,773 | ▼ 5.4% |
| Tangible fixed assets22/27 | €215,226 | €208,622 | €201,622 | €191,070 | €180,744 | ▼ 5.4% |
| Land and buildings22 | €184,465 | €179,612 | €174,760 | €169,908 | €165,055 | ▼ 2.9% |
| Plant, machinery and equipment23 | €1,024 | €2,150 | €1,154 | €670 | €280 | ▼ 58.2% |
| Furniture and vehicles24 | €5,890 | €6,680 | €9,195 | €7,647 | €6,231 | ▼ 18.5% |
| Other tangible fixed assets26 | €23,848 | €20,180 | €16,513 | €12,845 | €9,177 | ▼ 28.6% |
| Financial fixed assets28 | €29 | €29 | €29 | €29 | €29 | = |
| Current assets29/58 | €386,505 | €445,970 | €516,874 | €598,568 | €435,575 | ▼ 27.2% |
| Amounts receivable after more than one year29 | €125,000 | €287,000 | €287,000 | €287,000 | €162,000 | ▼ 43.6% |
| Other amounts receivable291 | €125,000 | €287,000 | €287,000 | €287,000 | €162,000 | ▼ 43.6% |
| Amounts receivable within one year40/41 | €31,409 | €22,543 | €51,037 | €19,181 | €484 | ▼ 97.5% |
| Trade receivables40 | €20,570 | €22,543 | €23,444 | €1,618 | €230 | ▼ 85.8% |
| Other amounts receivable41 | €10,839 | - | €27,593 | €17,563 | €254 | ▼ 98.6% |
| Current investments50/53 | €111,899 | €119,106 | €119,106 | €119,106 | €119,106 | = |
| Cash at bank and in hand54/58 | €116,009 | €15,313 | €58,953 | €172,218 | €153,315 | ▼ 11.0% |
| Deferred charges and accrued income490/1 | €2,189 | €2,007 | €778 | €1,062 | €670 | ▼ 36.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €601,760 | €654,620 | €718,525 | €789,667 | €616,348 | ▼ 21.9% |
| Equity10/15 | €508,416 | €540,358 | €645,378 | €737,996 | €557,900 | ▼ 24.4% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €431,852 | €454,852 | €594,852 | €684,852 | €514,852 | ▼ 24.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €429,992 | €452,992 | €594,852 | €684,852 | €514,852 | ▼ 24.8% |
| Profit (loss) carried forward14 | €64,164 | €73,106 | €38,126 | €40,745 | €30,649 | ▼ 24.8% |
| Amounts payable17/49 | €93,344 | €114,262 | €73,147 | €51,670 | €58,448 | ▲ 13.1% |
| Amounts payable after more than one year17 | €64,209 | €52,709 | €41,209 | €29,709 | €18,209 | ▼ 38.7% |
| Financial debts170/4 | €64,209 | €52,709 | €41,209 | €29,709 | €18,209 | ▼ 38.7% |
| Amounts payable within one year42/48 | €27,444 | €59,770 | €31,936 | €21,954 | €36,378 | ▲ 65.7% |
| Current portion of amounts payable after more than one year42 | €12,458 | €11,500 | €11,500 | €11,500 | €12,782 | ▲ 11.1% |
| Financial debts43 | - | €989 | - | - | - | - |
| Credit institutions430/8 | - | €989 | - | - | - | - |
| Trade debts44 | €1,629 | €2,555 | €2,128 | €1,609 | €522 | ▼ 67.5% |
| Suppliers440/4 | €1,629 | €2,555 | €2,128 | €1,609 | €522 | ▼ 67.5% |
| Taxes, remuneration and social security45 | €13,356 | €15,256 | €18,308 | €8,845 | €148 | ▼ 98.3% |
| Taxes450/3 | €13,356 | €15,256 | €18,308 | €8,845 | €148 | ▼ 98.3% |
| Other amounts payable47/48 | - | €29,470 | - | - | €22,927 | - |
| Accrued charges and deferred income492/3 | €1,692 | €1,783 | €3 | €8 | €3,861 | ▲ 48,341% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €96,534 | €98,943 | €145,020 | €92,619 | -€10,096 | ▼ 111% |
| + Depreciation and write-downs630 | €15,432 | €10,408 | €10,898 | €10,552 | €10,325 | ▼ 2.1% |
| Operating cash flow (approximation) | €111,966 | €109,351 | €155,917 | €103,171 | €230 | ▼ 99.8% |
| Investment in fixed assets (approximation) | - | -€3,804 | -€3,898 | €0 | €0 | - |
| Change in cash | - | -€100,696 | €43,640 | €113,266 | -€18,904 | ▼ 117% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€10,096
Net result drops to -€10,096, the lowest in the series.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €145,020 ▲46.6%
Operating result €184,072, net result €145,020, both a record.
31-12
Financial
Liquidity doublescurrent ratio 16.18
Current ratio from 7.46 to 16.18; short-term debt falls from €59,770 to €31,936.
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 14.08
Current ratio from 6.25 to 14.08; short-term debt falls from €55,100 to €27,444.
31-12
Financial
Equity above €500,000Eq €508,416 ▲23.4%
4 profitable years in a row build equity to €508,416.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
State Gazette act
General meeting · Board meeting
Director resignation · Permanent representative
Show earlier events
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 7.56
Current ratio from 3.22 to 7.56; short-term debt falls from €46,991 to €30,499.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-07
State Gazette act
General meeting · Statutes amendment
Director resignation · Director discharge · Jan Boeykens
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Elsene · 1 establishment unit since 2005
Ground area
111 m²
Building footprint
61 m²
Volume, LiDAR
833 m³
Parcel 21447B0232/00P000, Brussels · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
SG MANAGEMENT BVBA
since 20052.145.284.068
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0232/00P000indicative | Brussels | 111 m² | 1 · 61 m² | 16.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
10 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Agence de développement centre-Ville de Mons
Shared director
→
Cofinimmo
Shared director
→
GESTONE 1
Shared director
→
GESTONE 2
Shared director
→
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IMBC 2020
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IMBC CAPITAL RISQUE
Shared director
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PUBSTONE
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PUBSTONE GROUP
Shared director
→
S.A. IMBC Capital Risque
Shared director
→
SOCIETE D'INVESTISSEMENT DE MONS, DU BORINAGE ET DU CENTRE
Shared director
→
Recognitions · licences · registrations
Legal Entity Identifier
96760054T23WDMRSE347
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Of 82,601 companies in sector 70200 we hold annual accounts for 52,615. 33,779 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
Founded03-12-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68321Property management for co-owned buildings (syndics)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0870368528
Registered
31-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.