SIPLUS
ActiveSummary
SIPLUS has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89,360 and a net result of €12,440. Equity remains stable across the filed financial years (±0.2% per year). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €89,360
- Profit
- €12,440
Why 96lowers riskFounded in 1995Size: total assets €90,671Equity €89,360 (98.6% of total assets)Liquidity: current ratio 26.42, cash €11,925Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 (no NACE code, micro): better than 81% on solvency, 63% on liquidity, 69% on profitability and 74% on growth.
The bankruptcy probability was computed on 20-10-2026 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
This company filed its last 7 accounts on average 50 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Highest result from 2018 to 2025net €12,440 ▲401%
- Appointment: BRUGMA Thierry (sole director)Resignations: DAMOISEAU Véronique (director) and…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 508% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 31,372 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
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 497,473 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 74.5% 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 31,372 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,466 | €7,466 | €7,466 | €7,466 | €7,466 | €7,466 | €7,466 | €2,091 | ▼ 72.0% |
| Other operating charges640/8 | - | - | - | €2,204 | €2,622 | €2,877 | €2,981 | €3,075 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €16 | €474 | €531 | - | - |
| Gross operating margin9900 | €5,451 | €4,449 | -€1,933 | €2,567 | €17,298 | €19,139 | €12,954 | €17,185 | ▲ 32.7% |
| Operating profit (loss)9901 | -€4,044 | -€5,088 | -€20,003 | -€7,103 | €7,194 | €8,323 | €1,975 | €12,020 | ▲ 508% |
| Financial income75/76B | - | - | - | - | - | €16 | €887 | €476 | ▼ 46.3% |
| Recurring financial income75 | €1 | - | - | - | - | €16 | €887 | €476 | ▼ 46.3% |
| Financial charges65/66B | - | - | - | €55 | €59 | €1,206 | €381 | €55 | ▼ 85.4% |
| Recurring financial charges65 | €46 | €57 | €61 | €55 | €59 | €1,206 | €381 | €55 | ▼ 85.4% |
| Profit (loss) for the period before taxes9903 | -€4,090 | -€5,145 | -€20,064 | -€7,159 | €7,135 | €7,133 | €2,481 | €12,440 | ▲ 401% |
| Profit (loss) for the period9904 | -€4,090 | -€5,145 | -€20,064 | -€7,159 | €7,135 | €7,133 | €2,481 | €12,440 | ▲ 401% |
| Profit (loss) for the period to be appropriated9905 | -€4,090 | -€5,145 | -€20,064 | -€7,159 | €7,135 | €7,133 | €2,481 | €12,440 | ▲ 401% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €118,996 | €111,905 | €88,055 | €80,935 | €78,062 | €76,582 | €77,692 | €90,671 | ▲ 16.7% |
| Fixed assets21/28 | €102,942 | €95,476 | €88,009 | €80,543 | €73,077 | €65,611 | €58,144 | €56,053 | ▼ 3.6% |
| Tangible fixed assets22/27 | €102,942 | €95,476 | €88,009 | €80,543 | €73,077 | €65,611 | €58,144 | €56,053 | ▼ 3.6% |
| Land and buildings22 | - | - | - | €80,543 | €73,077 | €65,611 | €58,144 | €56,053 | ▼ 3.6% |
| Current assets29/58 | €16,054 | €16,429 | €46 | €392 | €4,985 | €10,972 | €19,548 | €34,617 | ▲ 77.1% |
| Amounts receivable within one year40/41 | - | - | - | - | - | €852 | €13,501 | €22,266 | ▲ 64.9% |
| Other amounts receivable41 | - | - | - | - | - | €852 | €13,501 | €22,266 | ▲ 64.9% |
| Cash at bank and in hand54/58 | €7,654 | €8,029 | €46 | €392 | €2,535 | €6,019 | €5,642 | €11,925 | ▲ 111% |
| Deferred charges and accrued income490/1 | - | - | - | - | €2,450 | €4,101 | €405 | €426 | ▲ 5.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €118,996 | €111,905 | €88,055 | €80,935 | €78,062 | €76,582 | €77,692 | €90,671 | ▲ 16.7% |
| Equity10/15 | €92,538 | €87,393 | €67,329 | €60,170 | €67,305 | €74,439 | €76,920 | €89,360 | ▲ 16.2% |
| Contributions10/11 | €139,316 | €139,316 | €139,316 | €139,316 | €139,316 | €139,316 | €139,316 | €139,316 | = |
| Capital10 | - | - | - | €139,316 | €139,316 | €139,316 | €139,316 | €139,316 | = |
| Issued capital100 | - | - | - | €139,316 | €139,316 | €139,316 | €139,316 | €139,316 | = |
| Reserves13 | €3,605 | €3,605 | €3,605 | €3,605 | €3,605 | €3,605 | €3,605 | €3,605 | = |
| Non-distributable reserves130/1 | - | - | - | €1,745 | €1,745 | €1,745 | €1,745 | €1,745 | = |
| Legal reserve130 | - | - | - | €1,745 | €1,745 | €1,745 | €1,745 | €1,745 | = |
| Distributable reserves133 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€50,383 | -€55,528 | -€75,592 | -€82,751 | -€75,616 | -€68,482 | -€66,001 | -€53,560 | ▲ 18.8% |
| Amounts payable17/49 | €26,458 | €24,512 | €20,727 | €20,765 | €10,757 | €2,144 | €772 | €1,310 | ▲ 69.7% |
| Amounts payable after more than one year17 | - | €18,000 | €10,000 | €10,000 | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €10,000 | - | - | - | - | - |
| Amounts payable within one year42/48 | €26,458 | €6,512 | €10,727 | €10,765 | €10,757 | €2,144 | €772 | €1,310 | ▲ 69.7% |
| Trade debts44 | €348 | €348 | €4,262 | €6,801 | €9,092 | €2,144 | €772 | €1,310 | ▲ 69.7% |
| Suppliers440/4 | - | - | - | €6,801 | €9,092 | €2,144 | €772 | €1,310 | ▲ 69.7% |
| Other amounts payable47/48 | - | - | - | €3,965 | €1,665 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,090 | -€5,145 | -€20,064 | -€7,159 | €7,135 | €7,133 | €2,481 | €12,440 | ▲ 401% |
| + Depreciation and write-downs630 | €7,466 | €7,466 | €7,466 | €7,466 | €7,466 | €7,466 | €7,466 | €2,091 | ▼ 72.0% |
| Operating cash flow (approximation) | €3,376 | €2,321 | -€12,598 | €308 | €14,602 | €14,600 | €9,948 | €14,531 | ▲ 46.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €375 | -€7,983 | €346 | €2,143 | €3,484 | -€377 | €6,282 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00361957 |
| 31-12-2024 | micro format | 18-06-2025 | 2025-00148784 |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00396152 |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00384586 |
| 31-12-2021 | micro format | 28-03-2023 | 2023-00048107 |
| 31-12-2020 | micro format | 29-10-2021 | 2021-76100388 |
| 31-12-2019 | micro format | 05-08-2020 | 2020-39200208 |
| 31-12-2018 | micro format | 27-08-2019 | 2019-60800290 |
| 31-12-2017 | micro format | 29-08-2018 | 2018-54200032 |
| 31-12-2016 | micro format | 29-08-2017 | 2017-51600290 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
29-07
Gazette deed
Appointment: BRUGMA Thierry (sole director)Resignations: DAMOISEAU Véronique (director) and BRUGMA Thibaut (director) · Amendment of the articles · Capital7 facts ▸
- Amendment of the articles (2 times)
- Capital, €139,316
- Director appointment, BRUGMA Thierry (sole director) (2 times)
- Power of attorney
- Director resignation, DAMOISEAU Véronique (director)
- Director resignation, BRUGMA Thibaut (director)
- Power of attorney, Thomas Licoppe
Show earlier events
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 20 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25037D0007/00K002 | Wallonia | 2,182 m² | 1 · 189 m² | 8.7 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'achat, la vente, la mise en valeur, le développement, la gestion, la gérance, l'exploitation de location à court et moyen terme, la mise à…” (deed in French)
4 activities (deed in French)
- L'achat, la vente, la mise en valeur, le développement, la gestion, la gérance, l'exploitation de location à court et moyen terme, la mise à disposition à titre onéreux, la promotion, le lotissement, l'entretien, le nettoyage, la maintenance, l'amélioration, l'embellissement, la transformation d'immeubles bâtis ou non bâtis, la construction en tant que maître de l'ouvrage, le courtage, la commission et l'exploitation de tous biens immeubles meublés ou non meublés et de leurs accessoires, notamment de surfaces commerciales, de bureaux et de studios, flats, appartements et logements et ce, pour autant que les agréations nécessaires à cet effet soient obtenues.
- Les prestations administratives de tous genres pour son propre compte ou pour compte de tiers.
- Elle peut en outre faire toutes opérations commerciales, industrielles, mobilières, immobilières ou financières se rattachant directement ou indirectement à son objet.
- Elle peut notamment s'intéresser par voie d'apports, de souscriptions, d'interventions financières ou par tout autre mode, dans toutes sociétés ou entreprises, ayant, en tout ou en partie, un objet similaire ou connexe au sien, ou susceptible d'en favoriser l'extension et le développement.
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne” (deed in French)1 more provision on this in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Conseil de surveillance et conseil de direction, administrateur unique” (deed in French)“Administrateur unique ou conseil d'administration” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Inclusion de clauses limitant la cession entre vifs et la transmission pour cause de morts des actions” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of May at 19:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed