SIELO
ActiveSummary
SIELO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €127,675 and a net result of €53,020. Equity is growing by ~68.7% per year across the filed fiscal years. Its solvency ranks better than 35% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-1
Solvency62▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 5.55 against 3.95 in 2024; short-term debt: 10.3% and cash: 0.1% of total assets), but 63.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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
36.8%
Return on assets
15.3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-12-2025, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
36 d early
2023
33 d early
2022
33 d early
2021
33 d early
2020
3 d early
2019
on the day
← 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 24 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 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 29 December (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€127,675▲ 71.0%
2024 · €74,655
Total assets
€346,760▲ 20.4%
2024 · €288,067
Net result
€53,020▲ 15.6%
2024 · €45,874
Working capital
€163,202▲ 65.3%
2024 · €98,715
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,436€52,417▲ 402%€54,095▲ 3.2%€60,284▲ 11.4%€74,168▲ 23.0%
Net result-€1,244below the sector's middle half▲ 97.6%€40,403within the sector's middle half€42,040within the sector's middle half▲ 4.1%€45,874within the sector's middle half▲ 9.1%€53,020within the sector's middle half▲ 15.6%
Equity-€53,662below the sector's middle half▼ 2.4%-€13,259below the sector's middle half▲ 75.3%€28,781within the sector's middle half€74,655within the sector's middle half▲ 159%€127,675within the sector's middle half▲ 71.0%
Total assets€186,205within the sector's middle half▼ 6.9%€190,252within the sector's middle half▲ 2.2%€238,328within the sector's middle half▲ 25.3%€288,067within the sector's middle half▲ 20.9%€346,760within the sector's middle half▲ 20.4%
Debt€239,867▼ 5.0%€203,511▼ 15.2%€209,547▲ 3.0%€213,412▲ 1.8%€219,085▲ 2.7%
Working capital-€50,407below the sector's middle half▲ 13.6%-€3,990below the sector's middle half▲ 92.1%€45,542within the sector's middle half€98,715within the sector's middle half▲ 117%€163,202above the sector's middle half▲ 65.3%
Solvency-28.8%below the sector's middle half▼ 2.6pp-7.0%below the sector's middle half▲ 21.8pp12.1%below the sector's middle half▲ 19.0pp25.9%below the sector's middle half▲ 13.8pp36.8%within the sector's middle half▲ 10.9pp
Current ratio0.14below the sector's middle half▼ 0.040.83below the sector's middle half▲ 0.692.54within the sector's middle half▲ 1.713.95within the sector's middle half▲ 1.415.55above the sector's middle half▲ 1.60
Return on assets (ROA)-0.7%below the sector's middle half▲ 25.6pp21.2%within the sector's middle half▲ 21.9pp17.6%within the sector's middle half▼ 3.6pp15.9%within the sector's middle half▼ 1.7pp15.3%within the sector's middle half▼ 0.6pp
Staff (FTE)11=0.1▼ 90.0%
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 has risen four years in a row; 2025 is 23% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €346,760
Fixed assets
€147,693 ▼ 5.3%
Current assets
€199,067 ▲ 50.7%
Equity and liabilities €346,760
Equity
€127,675 ▲ 71.0%
Debt
€219,085 ▲ 2.7%
Debt's share of the balance-sheet total falls from 74.1% to 63.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€82,423▲
2024 · €68,633
Cash flow
€61,275▲
2024 · €54,223
Debt to equity
1.72▼
2024 · 2.86
ROE
41.5%▼
2024 · 61.4%
Interest coverage
6.11▼
2024 · 18.54
Debt ≤ 1 year
€35,865▲
2024 · €33,412
Debt > 1 year
€180,000=
2024 · €180,000
Income taxes
€17,248▲
2024 · €15,270
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 34,696 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €16,807 | €17,207 | €12,140 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,890 | €8,540 | €8,274 | €8,349 | €8,255 | ▼ 1.1% |
| Other operating charges640/8 | - | €2,261 | €5,198 | €5,382 | €4,093 | ▼ 24.0% |
| Gross operating margin9900 | €24,504 | €80,025 | €84,774 | €86,155 | €86,516 | ▲ 0.4% |
| Operating profit (loss)9901 | €10,436 | €52,417 | €54,095 | €60,284 | €74,168 | ▲ 23.0% |
| Financial income75/76B | - | - | €1,928 | €4,561 | €9,587 | ▲ 110% |
| Recurring financial income75 | - | - | €1,928 | €4,561 | €9,587 | ▲ 110% |
| Financial charges65/66B | - | €11,733 | €4,512 | €3,701 | €13,487 | ▲ 264% |
| Recurring financial charges65 | €11,351 | €11,733 | €4,512 | €3,701 | €13,487 | ▲ 264% |
| Profit (loss) for the period before taxes9903 | -€915 | €40,684 | €51,511 | €61,144 | €70,268 | ▲ 14.9% |
| Income taxes67/77 | €329 | €281 | €9,471 | €15,270 | €17,248 | ▲ 13.0% |
| Profit (loss) for the period9904 | -€1,244 | €40,403 | €42,040 | €45,874 | €53,020 | ▲ 15.6% |
| Profit (loss) for the period to be appropriated9905 | -€1,244 | €40,403 | €42,040 | €45,874 | €53,020 | ▲ 15.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €186,205 | €190,252 | €238,328 | €288,067 | €346,760 | ▲ 20.4% |
| Fixed assets21/28 | €178,217 | €170,731 | €163,239 | €155,940 | €147,693 | ▼ 5.3% |
| Tangible fixed assets22/27 | €177,267 | €169,529 | €162,037 | €154,738 | €146,483 | ▼ 5.3% |
| Land and buildings22 | - | €164,447 | €158,097 | €151,746 | €145,396 | ▼ 4.2% |
| Plant, machinery and equipment23 | - | €636 | €368 | €874 | €424 | ▼ 51.5% |
| Furniture and vehicles24 | - | €4,446 | €3,572 | €2,118 | €663 | ▼ 68.7% |
| Financial fixed assets28 | €950 | €1,202 | €1,202 | €1,202 | €1,210 | ▲ 0.7% |
| Current assets29/58 | €7,988 | €19,521 | €75,089 | €132,127 | €199,067 | ▲ 50.7% |
| Amounts receivable within one year40/41 | €933 | €277 | €56,070 | €130,731 | €196,201 | ▲ 50.1% |
| Trade receivables40 | - | €277 | €187 | €14,534 | €16,261 | ▲ 11.9% |
| Other amounts receivable41 | - | - | €55,883 | €116,197 | €179,940 | ▲ 54.9% |
| Cash at bank and in hand54/58 | €5,724 | €17,672 | €16,998 | €101 | €518 | ▲ 413% |
| Deferred charges and accrued income490/1 | - | €1,572 | €2,021 | €1,295 | €2,348 | ▲ 81.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €186,205 | €190,252 | €238,328 | €288,067 | €346,760 | ▲ 20.4% |
| Equity10/15 | -€53,662 | -€13,259 | €28,781 | €74,655 | €127,675 | ▲ 71.0% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €26,543 | €26,543 | €26,543 | €26,543 | €26,543 | = |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | €24,688 | €24,688 | €24,688 | €24,688 | = |
| Profit (loss) carried forward14 | -€92,605 | -€52,202 | -€10,162 | €35,712 | €88,732 | ▲ 148% |
| Amounts payable17/49 | €239,867 | €203,511 | €209,547 | €213,412 | €219,085 | ▲ 2.7% |
| Amounts payable after more than one year17 | €180,000 | €180,000 | €180,000 | €180,000 | €180,000 | = |
| Financial debts170/4 | - | €180,000 | €180,000 | €180,000 | €180,000 | = |
| Amounts payable within one year42/48 | €58,395 | €23,511 | €29,547 | €33,412 | €35,865 | ▲ 7.3% |
| Trade debts44 | €3,740 | €4,410 | €6,089 | €3,464 | €5,964 | ▲ 72.2% |
| Suppliers440/4 | - | €4,410 | €6,089 | €3,464 | €5,964 | ▲ 72.2% |
| Taxes, remuneration and social security45 | - | €15,663 | €23,458 | €29,948 | €29,901 | ▼ 0.2% |
| Taxes450/3 | - | €14,582 | €19,951 | €29,948 | €29,901 | ▼ 0.2% |
| Remuneration and social security454/9 | - | €1,081 | €3,507 | - | - | - |
| Other amounts payable47/48 | - | €3,438 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €3,220 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,244 | €40,403 | €42,040 | €45,874 | €53,020 | ▲ 15.6% |
| + Depreciation and write-downs630 | €8,890 | €8,540 | €8,274 | €8,349 | €8,255 | ▼ 1.1% |
| Operating cash flow (approximation) | €7,646 | €48,943 | €50,314 | €54,223 | €61,275 | ▲ 13.0% |
| Investment in fixed assets (approximation) | - | -€1,054 | -€782 | -€1,050 | -€8 | ▲ 99.2% |
| Change in cash | - | €11,948 | -€674 | -€16,897 | €417 | ▲ 102% |
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
19-06
State Gazette act
Registered office · Legal-form changeRegistered-office move · Director in office2 facts ▸
State Gazette act
Registered office · Legal-form change
Registered-office move · Director in office2 facts ▸
- Registered-office move, Dallaan 19 te 1640 Sint-Genesius-Rode
- Director in office, Raphael Bochner (director)
2025
30-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €53,020 ▲15.6%
Operating result €74,168, net result €53,020, both a record.
30-06
Financial
Equity above €100,000Eq €127,675 ▲71%
4 profitable years in a row build equity to €127,675.
2024
26-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
29-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Liquidity triplescurrent ratio 2.54
Current ratio from 0.83 to 2.54.
2022
29-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €40,403
Net result €40,403 after 3 loss-making years.
2021
29-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet -€52,554
Net result drops to -€52,554, the lowest in the series; recovery starts the following year.
Show earlier events
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
28-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
20-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 1 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Genesius-Rode · 1 establishment unit since 2011
Ground area
3,233 m²
Building footprint
309 m²
Volume, LiDAR
1,665 m³
2 parcels, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SIELO
since 20112.195.845.022
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22001B0192/00C002 | Flanders | 2,088 m² | 1 · 131 m² | 8.9 m · 2 fl. |
| 22004A0041/00K010 | Flanders | 1,145 m² | 1 · 177 m² | 9.2 m · 2 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 82,601 companies in this sector we hold annual accounts for 52,629. 40,881 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded07-01-2011
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0832584949
Also
9925:BE0832584949
Registered
24-12-2025
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.