SHELLSER
ActiveSummary
The computed 12-month bankruptcy probability of SHELLSER is 10.5% (high). For SHELLSER, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€11,820) and a net result of €17,618. Equity is growing by ~9.2% per year across the filed fiscal years. The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Activity not known1 site
Size
€75,227total assets 2023
- Equity
- -€11,820
- Profit
- €17,618
Financial health
- Bankruptcy chance 12 m
- 10.5%
2023 figures too old to score
Structure
Accounts 432 d overdue0 of 2 deeds read
Signals- Figures for FY 2023 (filed 31-07-2024)- No filing in 24 months (latest 31-07-2024)- 2 financial years not filed after the legal deadline; 2 of the last 3 late- Two or more financial years not filed+ Size: total assets €75,227Latest accounts filed on timeShow the evidence
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Bankruptcy probability: High
Filing: At least two filing cycles are missing
Financial strength, FY 2023 · tick = 2022
Weak
Solvency
9+9
equity -15.7% of total assets
Liquidity
17+3
short-term debt 110.1% · cash 13.3%
Profitability
98+38
return on assets 23.4%
Bankruptcy probability, 12 months
10.5%
High
0%0.5%1.5%4%10%≥ 25%
About 1 in 10 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 2.1%
12-2024: 2.2%▲ +1.4% vs 11-2024
01-2025: 2.1%▼ -2.1% vs 12-2024
02-2025: 2.1%● 0.0% vs 01-2025
03-2025: 2.1%▼ -1.3% vs 02-2025
04-2025: 2.1%▲ +1.7% vs 03-2025
05-2025: 1.8%▼ -13.1% vs 04-2025lowest value
06-2025: 1.9%▲ +1.1% vs 05-2025
07-2025: 1.9%▲ +1.6% vs 06-2025
08-2025: 2.6%▲ +34.7% vs 07-2025
09-2025: 3.1%▲ +22.7% vs 08-2025
10-2025: 3.7%▲ +16.8% vs 09-2025
11-2025: 3.7%▲ +2.6% vs 10-2025
12-2025: 4.9%▲ +30.8% vs 11-2025
01-2026: 6.8%▲ +39.6% vs 12-2025
02-2026: 6.8%● 0.0% vs 01-2026
03-2026: 7.1%▲ +3.2% vs 02-2026
04-2026: 6.5%▼ -7.8% vs 03-2026
05-2026: 6.5%● 0.0% vs 04-2026
06-2026: 6.5%● 0.0% vs 05-2026
07-2026: 6.4%▼ -1.1% vs 06-2026
08-2026: 10.5%▲ +63.1% vs 07-2026highest value
09-2026: 10.5%● 0.0% vs 08-2026highest value
10-2026: 10.5%● 0.0% vs 09-2026highest value
- Figures for FY 2023 (filed 31-07-2024) raises the probability
- No filing in 24 months (latest 31-07-2024) raises the probability
- 2 financial years not filed after the legal deadline; 2 of the last 3 late raises the probability
- Size: total assets €75,227 lowers the probability for this profile
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 9 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline06-10-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 31-07-2024, 0 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
on the day
2022
209 d late
2021
121 d late
2020
396 d late
2019
761 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 297 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
- Annual accounts filedfiscal year 2023 · micro…
- Annual accounts filedfiscal year 2022 · full…
- Back to profitnet €17,618
Financials · fiscal year 2023, micro schema
Turnover
€25,720
EBIT margin
29.8%
Net result
€17,618
2022 · -€957
Working capital
-€72,616▲ 8.9%
2022 · -€79,667
Trend over the years
2019 to 2023, 5 fiscal years 2018 to 2023, 6 fiscal years
The operating result recovers in 2023; 2023 is 7,743% above 2022 and is the highest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result€20,517
2023
Net result€17,618
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€75,227
2023
Equity-€11,820
2023
Debt€87,046
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€72,616
2023
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line201820192020202120222023
Turnover€25,720-
Operating result€7,659-€5,212▼ 32.0%-€2,641€8,022€262▼ 96.7%€20,517▲ 7,743%
Net result€5,013-€2,907▼ 42.0%-€4,608€6,429-€957€17,618
EBIT margin29.8%-
Equity-€33,209--€30,302▲ 8.8%-€34,910▼ 15.2%-€28,480▲ 18.4%-€29,438▼ 3.4%-€11,820▲ 59.8%
Total assets€95,885-€90,288▼ 5.8%€93,639▲ 3.7%€87,804▼ 6.2%€80,242▼ 8.6%€75,227▼ 6.3%
Debt€129,094-€120,590▼ 6.6%€128,549▲ 6.6%€116,284▼ 9.5%€109,680▼ 5.7%€87,046▼ 20.6%
Working capital-€44,994--€51,139▼ 13.7%-€65,168▼ 27.4%-€68,533▼ 5.2%-€79,667▼ 16.2%-€72,616▲ 8.9%
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €75,227
Fixed assets
€65,000 ▼ 8.5%
Current assets
€10,227 ▲ 10.7%
Equity and liabilities
Equity-€11,820
Debt€87,046
Equity is negative: debt (€87,046) exceeds the balance-sheet total (€75,227).
Key figures and ratios
EBITDA
€26,517▲
2022 · €6,262
Cash flow
€23,618▲
2022 · €5,043
Solvency
-15.7%▲
2022 · -36.7%
Current ratio
0.12▲
2022 · 0.10
ROA
23.4%▲
2022 · -1.2%
Interest coverage
31.58▲
2022 · 5.14
Debt ≤ 1 year
€82,842▼
2022 · €88,909
Debt > 1 year
€4,204▼
2022 · €20,771
Income taxes
€2,059
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €25,720 | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Other operating charges640/8 | - | €3,873 | €5,360 | €8,756 | €6,971 | €6,020 | ▼ 13.6% |
| Gross operating margin9900 | €18,832 | €15,084 | €8,719 | €22,778 | €13,233 | €32,537 | ▲ 146% |
| Operating profit (loss)9901 | €7,659 | €5,212 | -€2,641 | €8,022 | €262 | €20,517 | ▲ 7,743% |
| Financial charges65/66B | - | €2,305 | €1,967 | €1,592 | €1,219 | €840 | ▼ 31.1% |
| Recurring financial charges65 | €2,647 | €2,305 | €1,967 | €1,592 | €1,219 | €840 | ▼ 31.1% |
| Profit (loss) for the period before taxes9903 | €5,013 | €2,907 | -€4,608 | €6,429 | -€957 | €19,677 | ▲ 2,156% |
| Income taxes67/77 | - | - | - | - | - | €2,059 | - |
| Profit (loss) for the period9904 | €5,013 | €2,907 | -€4,608 | €6,429 | -€957 | €17,618 | ▲ 1,941% |
| Profit (loss) for the period to be appropriated9905 | €5,013 | €2,907 | -€4,608 | €6,429 | -€957 | €17,618 | ▲ 1,941% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €95,885 | €90,288 | €93,639 | €87,804 | €80,242 | €75,227 | ▼ 6.3% |
| Fixed assets21/28 | €95,000 | €89,000 | €83,000 | €77,000 | €71,000 | €65,000 | ▼ 8.5% |
| Tangible fixed assets22/27 | €95,000 | €89,000 | €83,000 | €77,000 | €71,000 | €65,000 | ▼ 8.5% |
| Land and buildings22 | - | €89,000 | €83,000 | €77,000 | €71,000 | €65,000 | ▼ 8.5% |
| Current assets29/58 | €885 | €1,288 | €10,639 | €10,804 | €9,242 | €10,227 | ▲ 10.7% |
| Cash at bank and in hand54/58 | €704 | €1,107 | €10,458 | €10,623 | €9,061 | €10,000 | ▲ 10.4% |
| Deferred charges and accrued income490/1 | - | €181 | €181 | €181 | €181 | €227 | ▲ 25.2% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €95,885 | €90,288 | €93,639 | €87,804 | €80,242 | €75,227 | ▼ 6.3% |
| Equity10/15 | -€33,209 | -€30,302 | -€34,910 | -€28,480 | -€29,438 | -€11,820 | ▲ 59.8% |
| Contributions10/11 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Capital10 | - | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | €6,100 | €6,100 | €6,100 | €6,100 | €6,100 | = |
| Profit (loss) carried forward14 | -€45,709 | -€42,802 | -€47,410 | -€40,980 | -€41,938 | -€24,320 | ▲ 42.0% |
| Amounts payable17/49 | €129,094 | €120,590 | €128,549 | €116,284 | €109,680 | €87,046 | ▼ 20.6% |
| Amounts payable after more than one year17 | €83,215 | €68,163 | €52,742 | €36,947 | €20,771 | €4,204 | ▼ 79.8% |
| Financial debts170/4 | - | €68,163 | €52,742 | €36,947 | €20,771 | €4,204 | ▼ 79.8% |
| Amounts payable within one year42/48 | €45,879 | €52,427 | €75,807 | €79,337 | €88,909 | €82,842 | ▼ 6.8% |
| Current portion of amounts payable after more than one year42 | - | €15,052 | €15,421 | €15,794 | €16,177 | €16,567 | ▲ 2.4% |
| Trade debts44 | €310 | - | - | €1,153 | €1,968 | €506 | ▼ 74.3% |
| Suppliers440/4 | - | - | - | €1,153 | €1,968 | €506 | ▼ 74.3% |
| Other amounts payable47/48 | - | €37,375 | €60,386 | €62,389 | €70,765 | €65,770 | ▼ 7.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,013 | €2,907 | -€4,608 | €6,429 | -€957 | €17,618 | ▲ 1,941% |
| + Depreciation and write-downs630 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Operating cash flow (approximation) | €11,013 | €8,907 | €1,392 | €12,429 | €5,043 | €23,618 | ▲ 368% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €403 | €9,351 | €165 | -€1,561 | €939 | ▲ 160% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Directors
Directors
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
25-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 209 days late
2023
31-12
Financial
Back to profitnet €17,618
Net result €17,618 after one loss-making year.
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 121 days late
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 396 days late
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 761 days late
2021
31-12
Financial
Back to profitnet €6,429
Net result €6,429 after one loss-making year.
2020
31-12
Financial
Weakest financial yearnet -€4,608
Net result drops to -€4,608, the lowest in the series; recovery starts the following year.
2019
21-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 113 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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Register details
Identification
Legal formPrivate limited company
Founded04-11-2014
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 6 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2014
Ground area
223 m²
Building footprint
117 m²
Volume, LiDAR
1,994 m³
Parcel 21362B0286/00K009, Brussels · tallest building 20.5 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SHELLSER
since 2014unit no. 2.239.405.940
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0286/00K009 | Brussels | 223 m² | 1 · 117 m² | 20.5 m · 6 fl. |
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.