Equity
-€937,542
Debts exceed assets in financial year 2025.
SNF
Lifetime
16 annual accounts with figures on one time axispeak €551,811 (2025)
€551,811▲ 22.2%
lowest -€1.1m (2011)
€111,998▲ 12×
peak -€114,465 (2010)
-€937,542▲ €111,998
€4.4m▼ 9.1%
Board13 names since 2017all names
2 directorsC.A.I. SRL and 1 other
Owners5 names in the annual accounts
100%MEGIMMO
Documentsfilings and deeds
15-07-202616 days before the deadline
2025financial year
Turnover from €451,506 to €551,811Result from €9,559 to €111,998Investments €505,662Cash from €545,363 to €99,378
Key points
from the 2025 annual accountsResult
€111,998 ▲ 12×
The result rose in 2025 from €9,559 to €111,998.
Debts
€4.4m 122% of the balance sheet
Financial debts 90%Suppliers 1%Taxes and wages 0%Other 9%
Of this, €430,619 falls due within a year.
Payment terms
191 days to suppliers
SNF pays its suppliers 144 days earlier than in 2024. Customers pay 103 days earlier.
Liquidity
0.67 was 1.66 in 2024
Short-term debts fell from €523,517 to €430,619.
Position in the sector
-€937,542
Less equity than 95% of companies in real estate. Sector median €942,893 · 5,813 companies.
Checked score
56
Fair
Financially stronger than 60% of small companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.2%▲ +0.1 percentage points vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.3%▲ +0.1 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026highest value
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€937,542
Liquidity: current ratio 0.67, cash €99,378, halved
lowers risk
Size: turnover €551,811, total assets €3.6m
Figures for financial year 2025 (filed on 15-07-2026)
Calculation
The band follows from the bankruptcy probability. 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 68, small). It does better than 1% of them on solvency, 71% on liquidity, 91% on profitability and 77% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 522 companies had the same profile as SNF has now. Each dot stands for 2 companies, two years later.
93.7%
were still trading
1.7%
stopped another way
3.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SNF itself is lower: 0.3% within 12 months. It rests on far more data about SNF than the profile alone.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 522 companies, not a prediction for SNF. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.67 (1.66 in 2024), below 1. Short-term debt is 11.9% and cash 2.7% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 6% of 5812 sector peers (2025).
NBB · sector comparisonPosition among 5812 sector peers
Solvency
better than 6%
← weakest
strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 days early
2024
24 days early
2023
7 days early
2022
28 days early
2021
13 days early
2020
17 days early
2019
39 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 9 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 15 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
CA
C.A.I. SRL
Managing director, Carl Mestdagh
- MEGIMMO 100%score 92equity €2.4m (2025) · 2025 annual accounts of MEGIMMO
- Fidagh consolidatesscore 90equity €15.4m (2025) · annual accounts 2021
Recent changes
Reappointment: RSM InterAudit SA (statutory auditor)
General meeting of 25-06-2026 · Gazette deed
Reappointment: RSM InterAudit (statutory auditor)
General meeting of 03-07-2023 · Gazette deed
Amendment of the articles
General meeting of 07-01-2022 · Gazette deed
3 directors appointed, 4 resignations
Resignations: Keystone SRL, F.O.A Management SRL (managing director), Xavier Pierlet SRL and ABSOlute Consulting SRL (chair) · Permanent representatives: Thomas Rihoux, Nadia Vrancken, Xavier Pierlet, Olivier Beguin and Carl Mestdagh · Appointments: C.A.I SRL (managing director), Germain Mestdagh (chair) and Natacha Mestdagh · General meeting of 01-12-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SNF Waterloo | €551,811 | 33.1% | -25.9% | - |
| Beukers Beheer Lommel | €477,683 | 29.9% | 22.5% | - |
| Seniorenresidentie AURORA Geel | €642,436 | 66.4% | 59.5% | - |
| ENGIMES Tubize | €322,957 | 13.0% | 43.0% | - |
| TG-INVEST Beveren-Kruibeke-Zwijndrecht | €785,280 | 5.4% | 2.3% | 0.8 |
| ADMIMMO Mons | €796,866 | 41.7% | 31.2% | - |
| Modde Vastgoed Kortrijk | €518,400 | 51.8% | 30.7% | - |
Grey: the largest companies of the sector (real estate (NACE 68)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as SNF: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €3.3m and €5.1m, founded between 2006 and 2011.
Official details
Source: KBO- Status
- Active since 11-06-2009Normal situation
- Registered office
- 22 active companies are registered at this addressSource: KBO register, as of 11 November 2026.
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 3 others
- Establishment unit
- 2.179.074.9106041 Charleroi, since 03-07-2009
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €3.6m▼ 8.1%
- Filing
- Filed on 15-07-2026, 16 days before the end of the filing period
Insights on SNF
SNF has existed since 2009. In 2012 turnover rose from €8,435 to €156,649.
MEGIMMO holds all the shares. In December 2021, four directors stepped down. In January 2022, the Official Gazette published the appointment of C.A.I. SRL as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SNF
- What is the company number of SNF?
- The company number of SNF is 0812.206.041. The VAT number is the same number with BE in front: BE 0812.206.041.
- Where is SNF based?
- The registered office is at Drève Richelle 161 Bât.D, 1410 Waterloo.Company details
- What does SNF do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of SNF?
- SNF is a public limited company (NV).
- When was SNF founded?
- SNF was founded on 11-06-2009.
- Is SNF still active?
- Yes, SNF is an active enterprise in the KBO register.
- What is the turnover of SNF?
- The turnover of SNF was €551,811 in financial year 2025, according to the filed annual accounts.Financials
- Is SNF profitable?
- In financial year 2025, SNF made a profit of €111,998.
- Where can I find the annual accounts of SNF?
- SNF filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SNF due?
- SNF must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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