SIXTO
ActiveSummary
SIXTO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1.6m) and a net result of -€738,783. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▲+3
Solvency18▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.14 against 0.42 in 2024; short-term debt: 11.6% of total assets), and equity is negative.
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Signals
Six 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 →
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 2025Solvency, return and age of the figures
Solvency
-6.6%
Return on assets
-3.1%
Age of the figures
9 mo
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 -€1.6m
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
31 d late
2023
30 d late
2022
on the day
2021
12 d early
2020
66 d late
2019
40 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 22 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 company by total assets in Vilvoorde, Real estate sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€738,783▲ 42.0%
2024 · -€1.3m
Working capital
-€2.4m▼ 12.5%
2024 · -€2.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€528,502€179,008€668,331▲ 273%€60,587▼ 90.9%€27,156▼ 55.2%
Net result-€545,311€101,701€375,968▲ 270%-€1.3m-€738,783▲ 42.0%
Equity-€46,542€55,159€431,127▲ 682%-€843,467-€1.6m▼ 87.6%
Total assets€4.0m▲ 71.2%€9.6m▲ 138%€29.3m▲ 205%€26.2m▼ 10.5%€23.8m▼ 9.0%
Debt€4.1m▲ 120%€9.6m▲ 134%€28.8m▲ 202%€27.0m▼ 6.3%€25.4m▼ 6.0%
Working capital-€416,661€1.3m-€5.0m-€2.1m▲ 57.8%-€2.4m▼ 12.5%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 55% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23.8m
Fixed assets
€23.4m ▼ 5.0%
Current assets
€396,754 ▼ 73.7%
Key figures and ratios
EBITDA
€1.3m▼
2024 · €1.3m
Cash flow
€520,861▲
2024 · -€47,660
Solvency
-6.6%▼
2024 · -3.2%
Current ratio
0.14▼
2024 · 0.42
Debt to equity
-16.06▲
2024 · -32.05
ROA
-3.1%▲
2024 · -4.9%
Interest coverage
1.02▲
2024 · 0.86
Debt ≤ 1 year
€2.8m▼
2024 · €3.6m
Debt > 1 year
€21.9m▼
2024 · €23.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 137 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 20 years or older
- negative equity
- a small loss
2.2%
went bankrupt
2.2%
stopped otherwise
96%
still going
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,058 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% | 1.6% |
| 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 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 137 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €714,498 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €713,463 | €1.2m | €296,707 | €1.2m | €1.3m | ▲ 2.7% |
| Other operating charges640/8 | €47,684 | €48,826 | €51,693 | €64,800 | €56,341 | ▼ 13.1% |
| Gross operating margin9900 | €232,646 | €1.4m | €1.0m | €1.4m | €1.3m | ▼ 0.7% |
| Operating profit (loss)9901 | -€528,502 | €179,008 | €668,331 | €60,587 | €27,156 | ▼ 55.2% |
| Financial income75/76B | €10,716 | €2,482 | €45,497 | €169,331 | €1.1m | ▲ 564% |
| Recurring financial income75 | €10,716 | €2,482 | €45,497 | €169,331 | €1.1m | ▲ 564% |
| Non-recurring financial income76B | - | - | - | €169,331 | €1.1m | ▲ 564% |
| Financial charges65/66B | €27,525 | €79,789 | €337,859 | €1.5m | €1.9m | ▲ 25.7% |
| Recurring financial charges65 | €27,525 | €79,789 | €337,859 | €1.5m | €1.3m | ▼ 15.9% |
| Non-recurring financial charges66B | - | - | - | - | €625,568 | - |
| Profit (loss) for the period before taxes9903 | -€545,311 | €101,701 | €375,968 | -€1.3m | -€738,783 | ▲ 42.0% |
| Profit (loss) for the period9904 | -€545,311 | €101,701 | €375,968 | -€1.3m | -€738,783 | ▲ 42.0% |
| Profit (loss) for the period to be appropriated9905 | -€545,311 | €101,701 | €375,968 | -€1.3m | -€738,783 | ▲ 42.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.0m | €9.6m | €29.3m | €26.2m | €23.8m | ▼ 9.0% |
| Fixed assets21/28 | €3.3m | €6.4m | €26.9m | €24.7m | €23.4m | ▼ 5.0% |
| Tangible fixed assets22/27 | €3.3m | €6.4m | €25.9m | €23.7m | €22.4m | ▼ 5.3% |
| Land and buildings22 | €461,586 | €408,551 | €25.9m | €23.5m | €22.3m | ▼ 5.3% |
| Furniture and vehicles24 | - | - | €54,136 | €151,072 | €149,073 | ▼ 1.3% |
| Assets under construction and advance payments27 | €2.8m | €6.0m | - | - | - | - |
| Financial fixed assets28 | - | - | €1.0m | €1.0m | €1.0m | = |
| Current assets29/58 | €735,005 | €3.2m | €2.3m | €1.5m | €396,754 | ▼ 73.7% |
| Amounts receivable within one year40/41 | €710,824 | €3.1m | €2.2m | €1.5m | €396,754 | ▼ 73.7% |
| Trade receivables40 | €582,647 | €2.4m | €1.3m | €371,064 | €157,508 | ▼ 57.6% |
| Other amounts receivable41 | €128,177 | €722,601 | €961,939 | €1.1m | €239,246 | ▼ 79.0% |
| Cash at bank and in hand54/58 | €1,952 | €111,409 | €87,104 | €386 | - | - |
| Deferred charges and accrued income490/1 | €22,230 | €12,557 | €159 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.0m | €9.6m | €29.3m | €26.2m | €23.8m | ▼ 9.0% |
| Equity10/15 | -€46,542 | €55,159 | €431,127 | -€843,467 | -€1.6m | ▼ 87.6% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €99,157 | €99,157 | €99,157 | €99,157 | €99,157 | = |
| Uncalled capital101 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Reserves13 | €436,795 | €436,795 | €436,795 | €436,795 | €436,795 | = |
| Non-distributable reserves130/1 | €9,916 | €9,916 | €9,916 | €9,916 | €9,916 | = |
| Legal reserve130 | €9,916 | €9,916 | €9,916 | €9,916 | €9,916 | = |
| Distributable reserves133 | €426,879 | €426,879 | €426,879 | €426,879 | €426,879 | = |
| Profit (loss) carried forward14 | -€545,311 | -€443,609 | -€67,641 | -€1.3m | -€2.1m | ▼ 55.0% |
| Amounts payable17/49 | €4.1m | €9.6m | €28.8m | €27.0m | €25.4m | ▼ 6.0% |
| Amounts payable after more than one year17 | €2.9m | €7.6m | €21.3m | €23.3m | €21.9m | ▼ 5.7% |
| Financial debts170/4 | €2.9m | €7.6m | €21.3m | €23.3m | €21.9m | ▼ 5.7% |
| Amounts payable within one year42/48 | €1.2m | €1.9m | €7.3m | €3.6m | €2.8m | ▼ 23.6% |
| Current portion of amounts payable after more than one year42 | €7,840 | €8,493 | €8,493 | €51,497 | €961,685 | ▲ 1,767% |
| Financial debts43 | - | - | - | €689,829 | €141,312 | ▼ 79.5% |
| Credit institutions430/8 | - | - | - | €689,829 | €141,312 | ▼ 79.5% |
| Trade debts44 | €1.1m | €1.8m | €4.8m | €1.2m | €4,492 | ▼ 99.6% |
| Suppliers440/4 | €1.1m | €1.8m | €4.8m | €1.2m | €4,492 | ▼ 99.6% |
| Taxes, remuneration and social security45 | €3,676 | €142,885 | €209,949 | €20,224 | €95 | ▼ 99.5% |
| Taxes450/3 | €3,676 | €142,885 | €209,949 | €20,224 | €95 | ▼ 99.5% |
| Other amounts payable47/48 | - | - | €2.3m | €1.7m | €1.7m | ▼ 1.8% |
| Accrued charges and deferred income492/3 | - | €15,672 | €231,451 | €164,663 | €731,748 | ▲ 344% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€545,311 | €101,701 | €375,968 | -€1.3m | -€738,783 | ▲ 42.0% |
| + Depreciation and write-downs630 | €713,463 | €1.2m | €296,707 | €1.2m | €1.3m | ▲ 2.7% |
| Operating cash flow (approximation) | €168,153 | €1.3m | €672,675 | -€47,660 | €520,861 | ▲ 1,193% |
| Investment in fixed assets (approximation) | - | -€4.3m | -€20.8m | €1.0m | -€15,224 | ▼ 101% |
| Change in cash | - | €109,457 | -€24,305 | -€86,718 | - | - |
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
04-08
State Gazette act
Resignation: BV BELIFRAN (director)Permanent representative: Frank BELIEN · Appointment: BV FRABELI (sole director)6 facts ▸
State Gazette act
Resignation: BV BELIFRAN (director)
Permanent representative: Frank BELIEN · Appointment: BV FRABELI (sole director)6 facts ▸
- General meeting, 30-06-2026
- Director resignation, BV BELIFRAN (director)
- Permanent representative, Frank BELIEN (permanent representative)
- Director resignation, BV BELIFRAN (managing director)
- Director appointment, BV FRABELI (sole director)
- Permanent representative, Frank BELIEN (permanent representative)
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet -€1.3m
Net result drops to -€1.3m, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €375,968 ▲270%
Operating result €668,331, net result €375,968, both a record.
31-12
Financial
Equity above €200,000Eq €431,127 ▲682%
2 profitable years in a row build equity to €431,127.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €101,701
Net result €101,701 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.64
Current ratio from 0.64 to 1.64.
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
05-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 66 days late
Show earlier events
2020
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 40 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
FRABELI
CurrentSole director · since 01-07-2026 · Private limited company · perm. rep.: Frank BELIEN
Permanent representatives 1
Frank BELIEN
CurrentPermanent representative · since 01-07-2026 · for FRABELI
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 →
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Vilvoorde · 1 establishment unit since 1998
Ground area
1.0 ha
Building footprint
2,188 m²
Parcel 23645B0084/00D000, Flanders. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
Indringingsweg 1, 1800 Vilvoorde
since 19982.089.171.944
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23645B0084/00D000 | Flanders | 1.0 ha | 1 · 2,188 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
2 people since 2026, 1 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| FRABELI |
|
| BV BELIFRAN |
|
Articles of association
Board rule
Structure & network
Owners and holdings
2 ownersChain of control
- BEHOLD
- TOMORROWLAB
- SIXTO
Highest known parent: BEHOLD. The sources do not say who stands above it.
Owners 2
- TOMORROWLABparent99.75%
-
0.25%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
L.T. Hospitality
Shared corporate director
→
Recognitions · licences · registrations
Legal Entity Identifier
9845001137458F98OE92
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 4,429 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded18-03-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462914088
Also
9925:BE0462914088
Registered
17-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.