Financials
- Financial year
- 2025
- Turnover
- €23.7m
- Loss
- -€7.1m
- Solvency
- -57.5%
Turnover▲ 3.5%
Net result
20202025
SILVERSQUARE BELGIUM
ActiveSummary
The computed 12-month bankruptcy probability of SILVERSQUARE BELGIUM is 2.9% (moderate). The 2025 annual accounts show negative equity (-€11.3m) and a net result of -€7.1m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1,151 sector peers (NACE 82, financial year 2025). The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Other business support services
NACE 82990Business and other management consultancy NACE 70200
11 sites
Size
€23.7mturnover 2025
- Staff
- 43.8 FTE
- Equity
- -€11.3m
- Loss
- -€7.1m
Structure
- Parent
- Befimmo Real Estate Group · 100%
- Holdings
- 2
- PHIREMAChair · permanent representative Philippe Berlamont
- GAR CONSULTManaging director · permanent representative Jean-Philip Vroninks
- RevronDirector · permanent representative Jean-Philip Vroninks
Auditor: Deloitte Bedrijfsrevisoren/Réviseurs d’EntreprisesAccounts 31 days early
Why 49raises riskLoss of €7.1m, the second in a row (financial year 2025)Negative equity -€11.3m1 change of registered office in 24 monthslowers riskSize: turnover €23.7m, 43.8 FTE, total assets €19.6mShow the evidence
Checked score
Score 2025
49
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 10% of its sector peers (NACE 82, small)
Financial strength · tick = 2024
Weak
Solvency
0-7
equity -57.5% of total assets
Liquidity
15-20
short-term debt 80.5% · cash 7.3%
Profitability
0=
return on assets -36.4%
Bankruptcy probability, 12 months
2.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 1.9%
12-2024: 1.9%● unchanged vs 11-2024
01-2025: 1.9%● unchanged vs 12-2024
02-2025: 1.9%● unchanged vs 01-2025
03-2025: 1.9%● unchanged vs 02-2025
04-2025: 1.9%● unchanged vs 03-2025
05-2025: 1.9%● unchanged vs 04-2025
06-2025: 2.0%▲ +0.1 percentage points vs 05-2025
07-2025: 2.1%▲ +0.1 percentage points vs 06-2025
08-2025: 1.8%▼ -0.3 percentage points vs 07-2025
09-2025: 1.8%● unchanged vs 08-2025
10-2025: 1.8%● unchanged vs 09-2025
11-2025: 1.8%● unchanged vs 10-2025
12-2025: 1.8%● unchanged vs 11-2025
01-2026: 1.8%● unchanged vs 12-2025
02-2026: 1.8%● unchanged vs 01-2026
03-2026: 1.8%● unchanged vs 02-2026
04-2026: 1.8%● unchanged vs 03-2026
05-2026: 1.7%▼ -0.1 percentage points vs 04-2026lowest value
06-2026: 2.3%▲ +0.6 percentage points vs 05-2026
07-2026: 2.9%▲ +0.6 percentage points vs 06-2026highest value
08-2026: 2.9%● unchanged vs 07-2026highest value
09-2026: 2.9%● unchanged vs 08-2026highest value
10-2026: 2.9%● unchanged vs 09-2026highest value
No credit on open account
Liquidity insufficient (current ratio 0.44, compared with 0.62 in 2024, below 1; short-term debt: 80.5% and cash: 7.3% of total assets), and equity is negative.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 82, small): better than 1% on solvency, 9% on liquidity, 1% on profitability and 29% on growth.
The bankruptcy probability was computed on 18-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€11.3m
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 days early
2024
24 days early
2023
28 days early
2022
53 days early
2021
81 days early
2020
100 days early
2019
27 days late
← 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 41 days before the deadline; the sector median (NACE 82) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
19-10-2026 today31-12-2026 year end31-07-2027 deadline
- Reappointment: Deloitte Réviseurs d'Entreprises (statutory auditor)Appointment: Jo Van Baelen (permanent…
- Amendment of the articlesCapital
- RestructuringTransfer of a branch of…
Key points
- Risk: Negative equityfinancial year 2025: debts exceed assets -€11.3m View
- Risk: 8 loss-making years in a rowloss financial year 2025 -€7.1m View
- Caution: Equity fell in 2025from -€4.1m to -€11.3m ▼ 173% View
- Caution: Among the weakest 5% on solvencysector median 44.9% · 1,151 companies -57.5% View
- Controlled by Befimmo Real Estate Groupultimately: Alexandrite Monnet UK Topco… 100% View
- Positive: Filed on time since financial year 2020accounts within the deadline every year 6 years View
- A director leftlatest change 31-12-2025 · 3 in office 1 left View
By topic
Board & ownership
- Board
- 3 members
- Parent
- Befimmo Real Estate Group · 100%
- Auditor
- Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises
- PHIREMAChair
- GAR CONSULTManaging director
- RevronDirector
Network & group
- Group
- Alexandrite Monnet UK Topco…
- Subsidiaries
- 1
- Holdings
- 2
- Connected companies
- 37
2 holdings
Timeline
- Events
- 48
- Since
- 2010
- Next accounts
- by 31-07-2027
- 30-06-2026Annual accounts filed
- 08-05-2026Resignation: Axel Kuborn Management SRL (managing director)
- 14-11-2025Resignation: GEDUP SRL (director)
Company details
- Sites
- 11
- Legal form
- Public limited company
- Activity
- Other business support servicesNACE 82990
- Founded
- 18-09-2008
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 47
- Who signs
- Two directors jointly
- Annual meeting
- Third Wednesday of June at 11:50
- Purpose
- “Als bijkomende of tijdelijke activiteit kan de vennootschap beleggingen doen in effecten…” (deed in Dutch)
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