SILVAMO
ActiveSummary
SILVAMO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.1m and a net result of €23,912. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 22% of 494 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▼-2
Solvency44▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity ample (current ratio 5.06 against 2.73 in 2023; short-term debt: 14.4% and cash: 20.7% of total assets), but 80.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
19.2%
Return on assets
0.4%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 494 sector peers (2024).
NBB · sector comparisonPosition among 494 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
20 d early
2022
46 d early
2021
48 d early
2020
53 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 38 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#2 company by total assets in Kortemark, Construction sector
Equity
€1.1m▲ 2.2%
2023 · €1.1m
Total assets
€5.8m▲ 15.0%
2023 · €5.0m
Net result
€23,912▼ 70.6%
2023 · €81,410
Working capital
€3.4m▲ 59.3%
2023 · €2.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€1.3m▲ 102%€331,442▼ 74.4%€299,685▼ 9.6%€176,203▼ 41.2%€148,342▼ 15.8%
Net result€911,812above the sector's middle half▲ 127%€175,010within the sector's middle half▼ 80.8%€164,904within the sector's middle half▼ 5.8%€81,410within the sector's middle half▼ 50.6%€23,912within the sector's middle half▼ 70.6%
Equity€666,278within the sector's middle half▲ 1.8%€841,288within the sector's middle half▲ 26.3%€1.0mwithin the sector's middle half▲ 19.6%€1.1mwithin the sector's middle half▲ 8.1%€1.1mwithin the sector's middle half▲ 2.2%
Total assets€4.4mabove the sector's middle half▲ 41.6%€3.4mabove the sector's middle half▼ 22.1%€4.1mabove the sector's middle half▲ 20.0%€5.0mabove the sector's middle half▲ 23.4%€5.8mabove the sector's middle half▲ 15.0%
Debt€1.9m▲ 144%€755,524▼ 59.8%€551,590▼ 27.0%€1.6m▲ 188%€1.0m▼ 34.0%
Working capital€1.4mabove the sector's middle half▲ 22.2%€1.3mabove the sector's middle half▼ 8.2%€2.3mabove the sector's middle half▲ 74.2%€2.1mabove the sector's middle half▼ 7.1%€3.4mabove the sector's middle half▲ 59.3%
Solvency15.3%below the sector's middle half▼ 6.0pp24.7%within the sector's middle half▲ 9.5pp24.6%within the sector's middle half▼ 0.1pp21.6%below the sector's middle half▼ 3.1pp19.2%below the sector's middle half▼ 2.4pp
Current ratio1.76within the sector's middle half▼ 0.762.75above the sector's middle half▲ 0.985.17above the sector's middle half▲ 2.422.73above the sector's middle half▼ 2.445.06above the sector's middle half▲ 2.33
Return on assets (ROA)20.9%above the sector's middle half▲ 7.9pp5.1%within the sector's middle half▼ 15.7pp4.0%within the sector's middle half▼ 1.1pp1.6%within the sector's middle half▼ 2.4pp0.4%below the sector's middle half▼ 1.2pp
Staff (FTE)1below the sector's middle half=0.8below the sector's middle half▼ 20.0%1.5below the sector's middle half▲ 87.5%1.8below the sector's middle half▲ 20.0%2below the sector's middle half▲ 11.1%
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2024 is 16% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.8m
Fixed assets
€1.6m ▼ 6.5%
Current assets
€4.2m ▲ 25.7%
Equity and liabilities €5.8m
Equity
€1.1m ▲ 2.2%
Provisions
€3.6m ▲ 53.9%
Debt
€1.0m ▼ 34.0%
Debt's share of the balance-sheet total falls from 31.5% to 18.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€480,020▼
2023 · €514,744
Cash flow
€355,590▼
2023 · €419,951
Quick ratio
4.94▲
2023 · 2.68
Debt to equity
0.94▼
2023 · 1.46
ROE
2.2%▼
2023 · 7.5%
Interest coverage
20.08▼
2023 · 23.10
Debt ≤ 1 year
€837,022▼
2023 · €1.2m
Income taxes
€149,740▲
2023 · €115,263
Staff costs
€104,428▼
2023 · €116,793
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,980 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.2%
stopped otherwise
96%
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 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,980 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6,942 | €3,218 | - | - |
| Remuneration, social security and pensions62 | - | €56,227 | €127,562 | €116,793 | €104,428 | ▼ 10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €204,966 | €155,696 | €271,992 | €338,541 | €331,678 | ▼ 2.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€15,487 | €719,990 | -€161,429 | €1.3m | ▲ 890% |
| Other operating charges640/8 | - | €413,983 | €403,248 | €537,393 | €998 | ▼ 99.8% |
| Gross operating margin9900 | €2.2m | €941,861 | €1.8m | €1.0m | €1.9m | ▲ 84.7% |
| Operating profit (loss)9901 | €1.3m | €331,442 | €299,685 | €176,203 | €148,342 | ▼ 15.8% |
| Financial income75/76B | - | - | €5,903 | €42,749 | €49,220 | ▲ 15.1% |
| Recurring financial income75 | €225 | - | €5,903 | €42,749 | €49,220 | ▲ 15.1% |
| Financial charges65/66B | - | €22,119 | €20,364 | €22,279 | €23,910 | ▲ 7.3% |
| Recurring financial charges65 | €20,196 | €22,119 | €20,364 | €22,279 | €23,910 | ▲ 7.3% |
| Profit (loss) for the period before taxes9903 | €1.3m | €309,323 | €285,224 | €196,673 | €173,652 | ▼ 11.7% |
| Income taxes67/77 | €363,604 | €134,313 | €120,320 | €115,263 | €149,740 | ▲ 29.9% |
| Profit (loss) for the period9904 | €911,812 | €175,010 | €164,904 | €81,410 | €23,912 | ▼ 70.6% |
| Profit (loss) for the period to be appropriated9905 | €911,812 | €175,010 | €164,904 | €81,410 | €23,912 | ▼ 70.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.4m | €3.4m | €4.1m | €5.0m | €5.8m | ▲ 15.0% |
| Fixed assets21/28 | €1.1m | €1.3m | €1.2m | €1.7m | €1.6m | ▼ 6.5% |
| Tangible fixed assets22/27 | €1.1m | €1.3m | €1.2m | €1.7m | €1.6m | ▼ 6.5% |
| Land and buildings22 | - | €100,093 | €83,195 | €79,181 | €84,097 | ▲ 6.2% |
| Plant, machinery and equipment23 | - | €984,555 | €1.1m | €1.5m | €1.4m | ▼ 6.5% |
| Furniture and vehicles24 | - | - | €61,404 | €48,477 | €35,550 | ▼ 26.7% |
| Assets under construction and advance payments27 | - | €244,091 | - | - | - | - |
| Current assets29/58 | €3.3m | €2.1m | €2.8m | €3.4m | €4.2m | ▲ 25.7% |
| Stocks and contracts in progress3 | €73,688 | €57,797 | €30,606 | €55,713 | €103,741 | ▲ 86.2% |
| Stocks30/36 | - | €57,797 | €30,606 | €55,713 | €103,741 | ▲ 86.2% |
| Amounts receivable within one year40/41 | €2.4m | €1.5m | €2.0m | €2.7m | €2.9m | ▲ 8.7% |
| Trade receivables40 | - | €277,162 | €624,847 | €1.5m | €1.7m | ▲ 15.7% |
| Other amounts receivable41 | - | €1.2m | €1.3m | €1.2m | €1.2m | = |
| Cash at bank and in hand54/58 | €812,261 | €506,943 | €846,200 | €620,542 | €1.2m | ▲ 93.5% |
| Deferred charges and accrued income490/1 | - | €11,061 | €16,395 | €17,537 | €24,384 | ▲ 39.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.4m | €3.4m | €4.1m | €5.0m | €5.8m | ▲ 15.0% |
| Equity10/15 | €666,278 | €841,288 | €1.0m | €1.1m | €1.1m | ▲ 2.2% |
| Contributions10/11 | €495,787 | €495,787 | €495,787 | €495,787 | €495,787 | = |
| Capital10 | - | €495,787 | €495,787 | €495,787 | €495,787 | = |
| Issued capital100 | - | €495,787 | €495,787 | €495,787 | €495,787 | = |
| Reserves13 | €154,861 | €154,861 | €154,861 | €154,861 | €154,861 | = |
| Non-distributable reserves130/1 | - | €49,579 | €49,579 | €49,579 | €49,579 | = |
| Legal reserve130 | - | €49,579 | €49,579 | €49,579 | €49,579 | = |
| Distributable reserves133 | - | €105,282 | €105,282 | €105,282 | €105,282 | = |
| Profit (loss) carried forward14 | €15,630 | €190,640 | €355,544 | €436,954 | €460,866 | ▲ 5.5% |
| Provisions and deferred taxes16 | €1.8m | €1.8m | €2.5m | €2.4m | €3.6m | ▲ 53.9% |
| Provisions for liabilities and charges160/5 | - | €1.8m | €2.5m | €2.4m | €3.6m | ▲ 53.9% |
| Environmental obligations163 | - | - | €542,400 | - | - | - |
| Other liabilities and charges164/5 | - | €1.8m | €2.0m | €2.4m | €3.6m | ▲ 53.9% |
| Amounts payable17/49 | €1.9m | €755,524 | €551,590 | €1.6m | €1.0m | ▼ 34.0% |
| Amounts payable within one year42/48 | €1.9m | €755,524 | €551,590 | €1.2m | €837,022 | ▼ 32.2% |
| Trade debts44 | €868,050 | €644,457 | €501,262 | €1.1m | €619,217 | ▼ 43.7% |
| Suppliers440/4 | - | €644,457 | €501,262 | €1.1m | €619,217 | ▼ 43.7% |
| Taxes, remuneration and social security45 | - | €111,067 | €50,328 | €135,642 | €217,805 | ▲ 60.6% |
| Taxes450/3 | - | €100,921 | €30,836 | €120,743 | €206,712 | ▲ 71.2% |
| Remuneration and social security454/9 | - | €10,146 | €19,492 | €14,899 | €11,093 | ▼ 25.5% |
| Accrued charges and deferred income492/3 | - | - | - | €353,693 | €210,586 | ▼ 40.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €911,812 | €175,010 | €164,904 | €81,410 | €23,912 | ▼ 70.6% |
| + Depreciation and write-downs630 | €204,966 | €155,696 | €271,992 | €338,541 | €331,678 | ▼ 2.0% |
| Operating cash flow (approximation) | €1.1m | €330,706 | €436,896 | €419,951 | €355,590 | ▼ 15.3% |
| Investment in fixed assets (approximation) | - | -€432,825 | -€177,865 | -€775,487 | -€222,847 | ▲ 71.3% |
| Change in cash | - | -€305,318 | €339,257 | -€225,658 | €580,131 | ▲ 357% |
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
2026
10-08
State Gazette act
Appointment: Ernst & Young Bedrijfsrevisoren BV (statutory auditor)Power of attorney3 facts ▸
State Gazette act
Appointment: Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
Power of attorney3 facts ▸
- General meeting, 19-12-2025
- Power of attorney
- Auditor appointment, Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €23,912 ▼70.6%
Net result drops to €23,912, the lowest in the series.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €1mEq €1.0m ▲19.6%
5 profitable years in a row build equity to €1.0m.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €911,812 ▲127%
Operating result €1.3m, net result €911,812, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
17-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 26 acts read
About the unread acts
Of the 26 Belgian State Gazette acts we know for this company, 1 has been read. The other 25 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
Ernst & Young Bedrijfsrevisoren BV
CurrentStatutory auditor · since 05-06-2025 · perm. rep.: Wim Van Gasse
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Kortemark · 1 establishment unit since 1993
Ground area
968 m²
Parcel 32005D0044/00T000, Flanders. Linked by address, not a title deed.
1 establishment unit
SILVAMO NV
since 19932.060.484.787
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32005D0044/00T000 | Flanders | 968 m² | - | - |
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.
Mandate history
1 person since 2025, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Ernst & Young Bedrijfsrevisoren BV |
|
Structure & network
Part of the group
ACKERMANS & VAN HAAREN
118 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- ACKERMANS & VAN HAAREN
- DEME GROUP
- DREDGING, ENVIRONMENTAL & MARINE ENGINEERING
- DEME Environmental
- SILVAMO
Highest known parent: ACKERMANS & VAN HAAREN. The sources do not say who stands above it.
Owners 2
- DEME Environmentalparent100%
-
50%
Stated earlier (1)
An older source named these owners; newer accounts no longer list them.
-
50%
Holdings 0
The accounts to 31-12-2024 list no holdings, and no other source names one.
According to the 2024 annual accounts of SILVAMO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded11-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
42919Civil engineering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448924611
Also
9925:BE0448924611
Registered
24-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.