SIMAPI
ActiveSummary
SIMAPI has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€22,056) and a net result of -€6,992. Equity is shrinking by ~23.3% per year across the filed fiscal years. Its solvency ranks better than 10% of 9436 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability28▲+2
Solvency15▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.09 against 0.54 in 2024; short-term debt: 24.3% and cash: 1.2% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-9.6%
Return on assets
-3%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
18192021222425
2018 to 2025 · latest year -€22,056
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 26-07-2026, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
5 d early
2024
27 d late
2022
1 d late
2021
30 d late
2020
122 d late
2019
28 d late
2018
30 d 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 33 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 27 August (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€22,056▼ 46.4%
2024 · -€15,064
Total assets
€229,655▼ 20.3%
2024 · €288,296
Net result
-€6,992▲ 48.2%
2024 · -€13,508
Working capital
-€50,690▼ 23.2%
2024 · -€41,151
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 68, Real estate 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220242025
Operating result€77,136▲ 470%€5,968▼ 92.3%€2,406▼ 59.7%-€5,138-€4,964
Net result€21,164within the sector's middle half-€3,059within the sector's middle half-€6,873within the sector's middle half▼ 125%-€13,508below the sector's middle half--€6,992within the sector's middle half▲ 48.2%
Equity€31,507within the sector's middle half▲ 205%€28,448within the sector's middle half▼ 9.7%€21,574within the sector's middle half▼ 24.2%-€15,064below the sector's middle half--€22,056below the sector's middle half▼ 46.4%
Total assets€379,597within the sector's middle half▼ 13.4%€397,954within the sector's middle half▲ 4.8%€356,003within the sector's middle half▼ 10.5%€288,296within the sector's middle half-€229,655below the sector's middle half▼ 20.3%
Debt€348,090▼ 18.7%€369,506▲ 6.2%€334,429▼ 9.5%€303,359-€251,711▼ 17.0%
Working capital-€16,392within the sector's middle half▲ 71.7%-€16,727within the sector's middle half▼ 2.0%-€14,170within the sector's middle half▲ 15.3%-€41,151within the sector's middle half--€50,690within the sector's middle half▼ 23.2%
Solvency8.3%within the sector's middle half▲ 5.9pp7.1%within the sector's middle half▼ 1.2pp6.1%within the sector's middle half▼ 1.1pp-5.2%below the sector's middle half--9.6%below the sector's middle half▼ 4.4pp
Current ratio0.77within the sector's middle half▲ 0.210.85within the sector's middle half▲ 0.070.84within the sector's middle half▼ 0.010.54within the sector's middle half-0.09below the sector's middle half▼ 0.45
Return on assets (ROA)5.6%within the sector's middle half▲ 6.2pp-0.8%within the sector's middle half▼ 6.3pp-1.9%within the sector's middle half▼ 1.2pp-4.7%below the sector's middle half--3.0%below the sector's middle half▲ 1.6pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
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 2025: €4,964 after a loss of €5,138 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €229,655
Fixed assets
€224,622 ▼ 6.0%
Current assets
€5,033 ▼ 89.8%
Equity and liabilities
Equity-€22,056
Debt€251,711
Equity is negative: debt (€251,711) exceeds the balance-sheet total (€229,655).
Key figures and ratios
EBITDA
€19,366▲
2024 · €12,799
Cash flow
€7,410▲
2024 · €4,428
Interest coverage
1.62▲
2024 · 1.53
Debt ≤ 1 year
€55,723▼
2024 · €90,422
Debt > 1 year
€195,988▼
2024 · €212,937
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.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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 2,332 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 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,963 | €30,139 | €26,086 | €17,937 | €14,402 | ▼ 19.7% |
| Other operating charges640/8 | - | - | - | €15 | €50 | ▲ 237% |
| Gross operating margin9900 | €119,099 | €36,107 | €28,492 | €12,814 | €19,416 | ▲ 51.5% |
| Operating profit (loss)9901 | €77,136 | €5,968 | €2,406 | -€5,138 | €4,964 | ▲ 197% |
| Financial charges65/66B | - | €9,027 | €9,280 | €8,371 | €11,956 | ▲ 42.8% |
| Recurring financial charges65 | €19,590 | €9,027 | €9,280 | €8,371 | €11,956 | ▲ 42.8% |
| Profit (loss) for the period before taxes9903 | €57,546 | -€3,059 | -€6,873 | -€13,508 | -€6,992 | ▲ 48.2% |
| Income taxes67/77 | €36,382 | - | - | - | - | - |
| Profit (loss) for the period9904 | €21,164 | -€3,059 | -€6,873 | -€13,508 | -€6,992 | ▲ 48.2% |
| Profit (loss) for the period to be appropriated9905 | €21,164 | -€3,059 | -€6,873 | -€13,508 | -€6,992 | ▲ 48.2% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €379,597 | €397,954 | €356,003 | €288,296 | €229,655 | ▼ 20.3% |
| Fixed assets21/28 | €324,147 | €306,243 | €281,209 | €239,024 | €224,622 | ▼ 6.0% |
| Tangible fixed assets22/27 | €320,797 | €302,893 | €277,859 | €235,674 | €221,272 | ▼ 6.1% |
| Land and buildings22 | - | €281,587 | €261,377 | €226,670 | €214,078 | ▼ 5.6% |
| Plant, machinery and equipment23 | - | €878 | €586 | €147 | - | - |
| Furniture and vehicles24 | - | €2,890 | €2,587 | €1,143 | €903 | ▼ 21.1% |
| Other tangible fixed assets26 | - | €17,538 | €13,308 | €7,713 | €6,292 | ▼ 18.4% |
| Financial fixed assets28 | €3,350 | €3,350 | €3,350 | €3,350 | €3,350 | = |
| Current assets29/58 | €55,451 | €91,711 | €74,794 | €49,271 | €5,033 | ▼ 89.8% |
| Amounts receivable within one year40/41 | €18,576 | €88,773 | €72,164 | €48,000 | €2,206 | ▼ 95.4% |
| Trade receivables40 | - | €49,606 | €48,064 | €48,000 | - | - |
| Other amounts receivable41 | - | €39,167 | €24,100 | - | €2,206 | - |
| Cash at bank and in hand54/58 | €35,819 | €2,938 | €2,630 | €1,271 | €2,827 | ▲ 122% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €379,597 | €397,954 | €356,003 | €288,296 | €229,655 | ▼ 20.3% |
| Equity10/15 | €31,507 | €28,448 | €21,574 | -€15,064 | -€22,056 | ▼ 46.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €11,047 | €7,988 | €1,114 | -€35,524 | -€42,516 | ▼ 19.7% |
| Amounts payable17/49 | €348,090 | €369,506 | €334,429 | €303,359 | €251,711 | ▼ 17.0% |
| Amounts payable after more than one year17 | €276,248 | €261,069 | €245,465 | €212,937 | €195,988 | ▼ 8.0% |
| Financial debts170/4 | - | €261,069 | €245,465 | €212,937 | €195,988 | ▼ 8.0% |
| Amounts payable within one year42/48 | €71,843 | €108,438 | €88,964 | €90,422 | €55,723 | ▼ 38.4% |
| Current portion of amounts payable after more than one year42 | - | €15,179 | €15,604 | €16,488 | €16,949 | ▲ 2.8% |
| Trade debts44 | €18,649 | €69,056 | €73,360 | €42,539 | €38,572 | ▼ 9.3% |
| Suppliers440/4 | - | €69,056 | €73,360 | €42,539 | €38,572 | ▼ 9.3% |
| Taxes, remuneration and social security45 | - | €24,202 | - | €895 | €202 | ▼ 77.5% |
| Taxes450/3 | - | €24,202 | - | €895 | €202 | ▼ 77.5% |
| Other amounts payable47/48 | - | - | - | €30,500 | - | - |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,164 | -€3,059 | -€6,873 | -€13,508 | -€6,992 | ▲ 48.2% |
| + Depreciation and write-downs630 | €41,963 | €30,139 | €26,086 | €17,937 | €14,402 | ▼ 19.7% |
| Operating cash flow (approximation) | €63,127 | €27,080 | €19,213 | €4,428 | €7,410 | ▲ 67.3% |
| Investment in fixed assets (approximation) | - | -€12,236 | -€1,052 | - | €0 | - |
| Change in cash | - | -€32,881 | -€308 | - | €1,556 | - |
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
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet -€13,508
Net result drops to -€13,508, the lowest in the series; recovery starts the following year.
2023
01-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 1 day late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 122 days late
2020
31-12
Financial
Back to profitnet €21,164
Net result €21,164 after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has 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: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, La Bruyère · 2 establishment units since 2006
Ground area
2,091 m²
Building footprint
248 m²
Volume, LiDAR
1,044 m³
2 parcels, Wallonia · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
SIMAPI
since 20062.157.293.856
SIMAPI
since 20072.159.399.449
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92036C0045/00K000 | Wallonia | 1,274 m² | 1 · 153 m² | 9.1 m · 2 fl. |
| 92131A0137/00N000 | Wallonia | 817 m² | 1 · 94 m² | - |
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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 11,749 companies in this sector we hold annual accounts for 6,910. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded13-10-2006
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
Contact
Phone
010/848100La Bruyère
Fax
010/848109La Bruyère
E-invoicing
Reachable via Peppol
Peppol ID
0208:0884237746
Also
9925:BE0884237746
Registered
24-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.