SIEPAS
ActiveSIEPAS has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €55k and a net result of €17k. Equity is shrinking by ~33.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 25% of 2935 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
54
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability69▲+6
Solvency35▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.22 against 0.14 in 2023; short-term debt: 82.8% and cash: 14.7% of total assets), and 89.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
10.4%
Return on assets
3.2%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-09-2025, 48 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
not confirmed
2024
48 d late
2023
33 d early
2022
7 d early
2021
23 d late
2020
106 d early
2019
on the day
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€55k▲ 44.1%
2023 · €38k
2018: €316k
2019: €291k
2020: €290k
2021: €167k
2022: €61k
2023: €38k
2018 → 2024
Total assets
€531k▲ 0.3%
2023 · €530k
2018: €408k
2019: €605k
2020: €613k
2021: €588k
2022: €543k
2023: €530k
2018 → 2024
Net result
€17k
2023 · €-22k
2018: €-38k
2019: €-26k
2020: €-780
2021: €-123k
2022: €-106k
2023: €-22k
2018 → 2024
Working capital
€-345k▲ 2.9%
2023 · €-356k
2018: €187k
2019: €175k
2020: €7k
2021: €-244k
2022: €-343k
2023: €-356k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€290k-€167k▼ 42.4%€61k▼ 63.7%€38k▼ 36.7%€55k▲ 44.1%
Operating result€-698-€-121k▼ 17,288%€-104k▲ 14.0%€-17k▲ 83.6%€34k
Net result€-780-€-123k▼ 15,681%€-106k▲ 13.6%€-22k▲ 79.1%€17k
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 returns to profit in 2024: €34k after a loss of €17k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €531k
Fixed assets
€437k▼ 7.4%
Current assets
€95k▲ 62.7%
Equity and liabilities €531k
Equity
€55k▲ 44.1%
Debt
€476k▼ 3.1%
The debt ratio falls from 92.8% to 89.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€90k▲
2023 · €37k
Cash flow
€74k▲
2023 · €32k
Solvency
10.4%▲
2023 · 7.2%
Current ratio
0.22▲
2023 · 0.14
Quick ratio
0.22▲
2023 · 0.14
Debt / equity
8.63▼
2023 · 12.82
ROE
30.6%▲
2023 · -58.1%
ROA
3.2%▲
2023 · -4.2%
Interest coverage
5.58▼
2023 · 8.09
Debt
€476k▼
2023 · €491k
Debt ≤ 1 year
€440k▲
2023 · €414k
Debt > 1 year
€30k▼
2023 · €71k
Income taxes
€534▼
2023 · €543
Staff costs
€77k▼
2023 · €78k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€530k€531k▲
Fixed assets21/28€471k€437k▼
Intangible fixed assets21€3k€3k▼
Tangible fixed assets22/27€467k€433k▼
Land and buildings22€90k€82k▼
Plant, machinery and equipment23€358k€340k▼
Furniture and vehicles24€20k€12k▼
Financial fixed assets28€663€618▼
Current assets29/58€58k€95k▲
Amounts receivable within one year40/41€17k€13k▼
Trade receivables40€17k€13k▼
Cash at bank and in hand54/58€35k€78k▲
Deferred charges and accrued income490/1€6k€4k▼
Equity and liabilities
Total equity and liabilities10/49€530k€531k▲
Equity10/15€38k€55k▲
Contributions10/11€38k€38k=
Reserves13€254k€254k=
Non-distributable reserves130/1€4k€4k=
Reserves not available under the articles1311€4k€4k=
Distributable reserves133€250k€250k=
Profit (loss) carried forward14€-253k€-236k▲
Amounts payable17/49€491k€476k▼
Amounts payable after more than one year17€71k€30k▼
Financial debts170/4€71k€30k▼
Amounts payable within one year42/48€414k€440k▲
Current portion of amounts payable after more than one year42€40k€44k▲
Trade debts44€8k€4k▼
Suppliers440/4€8k€4k▼
Taxes, remuneration and social security45€16k€19k▲
Taxes450/3€7k€11k▲
Remuneration and social security454/9€8k€9k▲
Other amounts payable47/48€351k€374k▲
Accrued charges and deferred income492/3€7k€6k▼
Income statement
Code20232024
Remuneration, social security and pensions62€78k€77k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€54k€57k▲
Other operating charges640/8€5k€7k▲
Gross operating margin9900€120k€174k▲
Operating profit (loss)9901€-17k€34k▲
Financial income75/76B€0€7▲
Recurring financial income75€0€7▲
Financial charges65/66B€5k€16k▲
Recurring financial charges65€5k€16k▲
Profit (loss) for the period before taxes9903€-22k€17k▲
Income taxes67/77€543€534▼
Profit (loss) for the period9904€-22k€17k▲
Profit (loss) for the period to be appropriated9905€-22k€17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-253k€-236k▲
Profit (loss) brought forward from the previous period14P€-231k€-253k▼
Social balance
Average headcount (FTE)90870.80.8=
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
17-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 48 days late
2024
31-12
Financial
Back to profitnet €17k
Net result €17k after 6 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Weakest financial yearnet €-123k
Net result drops to €-123k, the lowest in the series; recovery starts the following year.
16-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 10current ratio 29.54
Current ratio from 3.05 to 29.54; short-term debt falls from €91k to €6k.
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Zottegem · 1 establishment unit since 1983
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Gentse Steenweg 3239620 ZottegemGround area
4,075 m²
Building footprint
322 m²
Volume, LiDAR
2,506 m³
Parcel 41035A0020/02H000, Flanders · tallest building 14.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Gentse Steenweg 323, 9620 Zottegem
since 19832.022.216.606
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41035A0020/02H000 | Flanders | 4,074 m² | 1 · 322 m² | 14.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteZottegem2.022.216.606
Similar companies · same sector, comparable size
JOVA
BE 0506.862.711
Ninove · Eq €55k
BLFT
BE 0794.792.759
Ukkel · Eq €55k
MAX
BE 0459.521.662
Liège · Eq €55k
KABINET van gezonde zaken
BE 0702.805.184
Antwerpen · Eq €55k
Verbach
BE 0794.402.878
Dilsen-Stokkem · Eq €55k
Of 7,508 companies in sector 56210 we hold annual accounts for 2,445. 2,057 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-04-1983
Fiscal year end31-12
Activities, NACEBEL
51321
56210Event catering
46321Wholesale of meat and meat products, excluding game and poultry
47252Retail sale of beverages, general range
52250Logistics services
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.