SMH IMMO
ActiveSummary
SMH IMMO has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €236k and a net result of €-21k. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 83% of 8095 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability9▲+1
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days only on tighter terms
Liquidity short (current ratio 0.15 against 0.74 in 2023; short-term debt: 0.3% and cash: 0% of total assets), and 13.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 2024Solvency, return and age of the figures
Solvency
86.8%
Return on assets
-7.8%
Age of the figures
21 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 · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-21k
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
92 d late
2023
30 d late
2022
42 d late
2021
59 d early
2020
52 d late
2019
36 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€236k▼ 8.3%
2023 · €258k
2018: €364khighest in 7 years
2019: €345k▼ -5.2% vs 2018
2020: €325k▼ -5.7% vs 2019
2021: €306k▼ -6.0% vs 2020
2022: €284k▼ -7.1% vs 2021
2023: €258k▼ -9.3% vs 2022
2024: €236k▼ -8.3% vs 2023lowest in 7 years
2018 → 2024
Total assets
€272k▼ 7.0%
2023 · €293k
2018: €375khighest in 7 years
2019: €370k▼ -1.4% vs 2018
2020: €351k▼ -5.2% vs 2019
2021: €331k▼ -5.6% vs 2020
2022: €312k▼ -5.9% vs 2021
2023: €293k▼ -6.0% vs 2022
2024: €272k▼ -7.0% vs 2023lowest in 7 years
2018 → 2024
Net result
€-21k▲ 19.0%
2023 · €-26k
2018: €-20k
2019: €-19k▲ +4.7% vs 2018highest in 7 years
2020: €-19k▼ -2.8% vs 2019
2021: €-19k▲ +0.6% vs 2020
2022: €-22k▼ -11.9% vs 2021
2023: €-26k▼ -21.6% vs 2022lowest in 7 years
2024: €-21k▲ +19.0% vs 2023
2018 → 2024
Working capital
€-607▲ 49.2%
2023 · €-1k
2018: €-12klowest in 7 years
2019: €12k▲ +201% vs 2018highest in 7 years
2020: €9k▼ -20.2% vs 2019
2021: €7k▼ -24.0% vs 2020
2022: €3k▼ -64.1% vs 2021
2023: €-1k▼ -147% vs 2022
2024: €-607▲ +49.2% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€325k-€306k▼ 6.0%€284k▼ 7.1%€258k▼ 9.3%€236k▼ 8.3%
2020: €325khighest in 5 years
2021: €306k▼ -6.0% vs 2020
2022: €284k▼ -7.1% vs 2021
2023: €258k▼ -9.3% vs 2022
2024: €236k▼ -8.3% vs 2023lowest in 5 years
Operating result€-19k-€-19k▲ 0.7%€-21k▼ 12.2%€-26k▼ 21.0%€-21k▲ 19.4%
2020: €-19k
2021: €-19k▲ +0.7% vs 2020highest in 5 years
2022: €-21k▼ -12.2% vs 2021
2023: €-26k▼ -21.0% vs 2022lowest in 5 years
2024: €-21k▲ +19.4% vs 2023
Net result€-19k-€-19k▲ 0.6%€-22k▼ 11.9%€-26k▼ 21.6%€-21k▲ 19.0%
2020: €-19k
2021: €-19k▲ +0.6% vs 2020highest in 5 years
2022: €-22k▼ -11.9% vs 2021
2023: €-26k▼ -21.6% vs 2022lowest in 5 years
2024: €-21k▲ +19.0% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21k in 2024 against €26k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €272k
Fixed assets
€272k ▼ 5.9%
Current assets
€110 ▼ 96.8%
Equity and liabilities €272k
Equity
€236k ▼ 8.3%
Debt
€36k ▲ 2.5%
Debt's share of the balance-sheet total rises from 12.0% to 13.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-3k▲
2023 · €-8k
Cash flow
€-4k▲
2023 · €-9k
Current ratio
0.15▼
2023 · 0.74
Debt to equity
0.15▲
2023 · 0.14
ROE
-9.0%▲
2023 · -10.2%
ROA
-7.8%▲
2023 · -9.0%
Interest coverage
-5.00▲
2023 · -11.33
Debt ≤ 1 year
€717▼
2023 · €5k
Debt > 1 year
€35k▲
2023 · €30k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 30 lines
Balance sheet
Code20232024
Assets
Total assets20/58€293k€272k▼
Fixed assets21/28€289k€272k▼
Tangible fixed assets22/27€289k€272k▼
Land and buildings22€289k€272k▼
Current assets29/58€3k€110▼
Cash at bank and in hand54/58€3k€110▼
Equity and liabilities
Total equity and liabilities10/49€293k€272k▼
Equity10/15€258k€236k▼
Contributions10/11€600k€600k=
Profit (loss) carried forward14€-342k€-364k▼
Amounts payable17/49€35k€36k▲
Amounts payable after more than one year17€30k€35k▲
Financial debts170/4€30k€35k▲
Amounts payable within one year42/48€5k€717▼
Trade debts44€5k€69▼
Suppliers440/4€5k€69▼
Other amounts payable47/48€0€648▲
Accrued charges and deferred income492/3€476€261▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€17k=
Other operating charges640/8€320€0▼
Gross operating margin9900€-8k€-3k▲
Operating profit (loss)9901€-26k€-21k▲
Financial charges65/66B€747€699▼
Recurring financial charges65€747€699▼
Profit (loss) for the period before taxes9903€-26k€-21k▲
Profit (loss) for the period9904€-26k€-21k▲
Profit (loss) for the period to be appropriated9905€-26k€-21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-342k€-364k▼
Profit (loss) brought forward from the previous period14P€-316k€-342k▼
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €17k | €17k | €17k | €17k | = |
| Other operating charges640/8 | - | €193 | €363 | €320 | €0 | ▼ 100% |
| Gross operating margin9900 | €-2k | €-2k | €-4k | €-8k | €-3k | ▲ 57.1% |
| Operating profit (loss)9901 | €-19k | €-19k | €-21k | €-26k | €-21k | ▲ 19.4% |
| Financial charges65/66B | - | €517 | €525 | €747 | €699 | ▼ 6.4% |
| Recurring financial charges65 | €495 | €517 | €525 | €747 | €699 | ▼ 6.4% |
| Profit (loss) for the period before taxes9903 | €-19k | €-19k | €-22k | €-26k | €-21k | ▲ 19.0% |
| Profit (loss) for the period9904 | €-19k | €-19k | €-22k | €-26k | €-21k | ▲ 19.0% |
| Profit (loss) for the period to be appropriated9905 | €-19k | €-19k | €-22k | €-26k | €-21k | ▲ 19.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €351k | €331k | €312k | €293k | €272k | ▼ 7.0% |
| Fixed assets21/28 | €341k | €324k | €306k | €289k | €272k | ▼ 5.9% |
| Tangible fixed assets22/27 | €341k | €324k | €306k | €289k | €272k | ▼ 5.9% |
| Land and buildings22 | - | €324k | €306k | €289k | €272k | ▼ 5.9% |
| Current assets29/58 | €10k | €8k | €5k | €3k | €110 | ▼ 96.8% |
| Cash at bank and in hand54/58 | €10k | €8k | €5k | €3k | €110 | ▼ 96.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €351k | €331k | €312k | €293k | €272k | ▼ 7.0% |
| Equity10/15 | €325k | €306k | €284k | €258k | €236k | ▼ 8.3% |
| Contributions10/11 | - | €600k | €600k | €600k | €600k | = |
| Profit (loss) carried forward14 | €-275k | €-294k | €-316k | €-342k | €-364k | ▼ 6.2% |
| Amounts payable17/49 | €26k | €25k | €28k | €35k | €36k | ▲ 2.5% |
| Amounts payable after more than one year17 | €25k | €25k | €25k | €30k | €35k | ▲ 16.7% |
| Financial debts170/4 | - | €25k | €25k | €30k | €35k | ▲ 16.7% |
| Amounts payable within one year42/48 | €602 | €420 | €3k | €5k | €717 | ▼ 84.5% |
| Trade debts44 | €227 | €45 | €2k | €5k | €69 | ▼ 98.5% |
| Suppliers440/4 | - | €45 | €2k | €5k | €69 | ▼ 98.5% |
| Other amounts payable47/48 | - | €375 | €375 | €0 | €648 | - |
| Accrued charges and deferred income492/3 | - | - | - | €476 | €261 | ▼ 45.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-19k | €-19k | €-22k | €-26k | €-21k | ▲ 19.0% |
| + Depreciation and write-downs630 | €17k | €17k | €17k | €17k | €17k | = |
| Operating cash flow (approximation) | €-2k | €-2k | €-5k | €-9k | €-4k | ▲ 54.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | ▼ 100% |
| Change in cash | - | €-2k | €-2k | €-2k | €-3k | ▼ 97.0% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 92 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €-26k
Net result drops to €-26k, the lowest in the series; recovery starts the following year.
11-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 42 days late
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
21-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 52 days late
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 3802current ratio 44.41
Current ratio from 0.01 to 44.41; short-term debt falls from €12k to €269.
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 43 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Machelen (Brab.) · 1 establishment unit since 2014
Ground area
4,851 m²
Building footprint
1,846 m²
Volume, LiDAR
34,181 m³
Parcel 23015B0207/00E002, Flanders · tallest building 22.7 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
SMH Immo
since 20142.206.276.876
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23015B0207/00E002 | Flanders | 4,851 m² | 1 · 1,846 m² | 22.7 m · 6 fl. |
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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,158 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-01-2012
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.