SNF
ActiveSummary
SNF has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€937,542) and a net result of €111,998. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 5% of 4565 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+11
Solvency0=
Growth73▲+19
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 0.67 against 1.66 in 2024; short-term debt: 11.9% and cash: 2.7% of total assets), and equity is negative.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 4565 sector peers (2025).
NBB · sector comparisonPosition among 4565 sector peers
Solvency
better than 5%
← 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 d early
2024
24 d early
2023
7 d early
2022
28 d early
2021
13 d early
2020
17 d early
2019
39 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 9 days before 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
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€551,811▲ 22.2%
2024 · €451,506
EBIT margin
33.1%▲ 13.8pp
2024 · 19.3%
Net result
€111,998▲ 1,072%
2024 · €9,559
Working capital
-€140,862
2024 · €346,691
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
Turnover€333,824▲ 19.0%€409,226▲ 22.6%€510,958▲ 24.9%€451,506▼ 11.6%€551,811▲ 22.2%
Operating result€125,351▲ 120%€173,614▲ 38.5%€218,300▲ 25.7%€87,282▼ 60.0%€182,652▲ 109%
Net result€37,383€117,569▲ 214%€144,102▲ 22.6%€9,559▼ 93.4%€111,998▲ 1,072%
EBIT margin37.6%▲ 17.3pp42.4%▲ 4.9pp42.7%▲ 0.3pp19.3%▼ 23.4pp33.1%▲ 13.8pp
Equity-€1.3m▲ 2.8%-€1.2m▲ 8.9%-€1.1m▲ 12.0%-€1.0m▲ 0.9%-€937,542▲ 10.7%
Total assets€3.7m▲ 22.9%€4.6m▲ 27.3%€4.1m▼ 11.6%€3.9m▼ 4.2%€3.6m▼ 8.1%
Debt€4.9m▲ 14.9%€5.7m▲ 17.8%€5.0m▼ 12.1%€4.8m▼ 3.8%€4.4m▼ 9.1%
Working capital-€556,806▲ 52.8%€434,084€417,067▼ 3.9%€346,691▼ 16.9%-€140,862
Why a figure moved sharply
- 2025 Net result +1,072% on 2024. Cause not known from the registers.
- 2024 Net result -93% on 2023. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 109% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.6m
Fixed assets
€3.3m ▲ 8.5%
Current assets
€289,758 ▼ 66.7%
Key figures and ratios
EBITDA
€426,563▲
2024 · €331,033
Cash flow
€355,908▲
2024 · €253,310
Solvency
-25.9%▲
2024 · -26.7%
Current ratio
0.67▼
2024 · 1.66
Debt to equity
-4.70▼
2024 · -4.62
ROA
3.1%▲
2024 · 0.2%
Interest coverage
5.95▲
2024 · 4.30
Debt ≤ 1 year
€430,619▼
2024 · €523,517
Debt > 1 year
€4.0m▼
2024 · €4.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 522 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
3.6%
went bankrupt
1.7%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
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 522 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €428,290 | €669,763 | €592,103 | €511,279 | €641,772 | ▲ 25.5% |
| Turnover70 | €333,824 | €409,226 | €510,958 | €451,506 | €551,811 | ▲ 22.2% |
| Other operating income74 | €94,466 | €260,537 | €81,146 | €59,773 | €89,961 | ▲ 50.5% |
| Operating charges60/66A | €302,939 | €496,149 | €373,803 | €423,997 | €459,120 | ▲ 8.3% |
| Services and other goods61 | €123,636 | €319,466 | €118,625 | €136,286 | €112,347 | ▼ 17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €134,735 | €134,896 | €210,278 | €243,751 | €243,910 | ▲ 0.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €11,144 | €11,144 | €11,144 | €11,144 | €11,144 | = |
| Other operating charges640/8 | €33,423 | €30,643 | €33,757 | €32,816 | €91,719 | ▲ 179% |
| Operating profit (loss)9901 | €125,351 | €173,614 | €218,300 | €87,282 | €182,652 | ▲ 109% |
| Financial income75/76B | €63 | €0 | €6,239 | €25 | €1,945 | ▲ 7,608% |
| Recurring financial income75 | €63 | €0 | €6,239 | €25 | €1,945 | ▲ 7,608% |
| Other financial income752/9 | €63 | €0 | €6,239 | €25 | €1,945 | ▲ 7,608% |
| Financial charges65/66B | €88,030 | €56,046 | €80,437 | €77,748 | €72,600 | ▼ 6.6% |
| Recurring financial charges65 | €88,030 | €56,046 | €80,437 | €77,748 | €72,600 | ▼ 6.6% |
| Debt charges650 | €87,256 | €50,930 | €79,202 | €76,918 | €71,646 | ▼ 6.9% |
| Other financial charges652/9 | €775 | €5,116 | €1,235 | €829 | €954 | ▲ 15.0% |
| Profit (loss) for the period before taxes9903 | €37,383 | €117,569 | €144,102 | €9,559 | €111,998 | ▲ 1,072% |
| Profit (loss) for the period9904 | €37,383 | €117,569 | €144,102 | €9,559 | €111,998 | ▲ 1,072% |
| Profit (loss) for the period to be appropriated9905 | €37,383 | €117,569 | €144,102 | €9,559 | €111,998 | ▲ 1,072% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.7m | €4.6m | €4.1m | €3.9m | €3.6m | ▼ 8.1% |
| Fixed assets21/28 | €3.3m | €3.5m | €3.3m | €3.1m | €3.3m | ▲ 8.5% |
| Tangible fixed assets22/27 | €3.3m | €3.5m | €3.3m | €3.1m | €2.8m | ▼ 7.8% |
| Land and buildings22 | €1.5m | €1.3m | €3.3m | €3.1m | €2.8m | ▼ 7.8% |
| Assets under construction and advance payments27 | €1.8m | €2.1m | - | - | - | - |
| Financial fixed assets28 | €250 | €250 | €659 | €659 | €502,204 | ▲ 76,153% |
| Affiliated companies280/1 | - | - | - | - | €501,545 | - |
| Amounts receivable281 | - | - | - | - | €501,545 | - |
| Other financial fixed assets284/8 | €250 | €250 | €659 | €659 | €659 | = |
| Amounts receivable and cash guarantees285/8 | €250 | €250 | €659 | €659 | €659 | = |
| Current assets29/58 | €375,302 | €1.2m | €798,883 | €870,209 | €289,758 | ▼ 66.7% |
| Amounts receivable within one year40/41 | €75,739 | €385,105 | €242,411 | €324,845 | €190,380 | ▼ 41.4% |
| Trade receivables40 | €45,762 | €327,959 | €224,377 | €283,592 | €190,380 | ▼ 32.9% |
| Other amounts receivable41 | €29,977 | €57,146 | €18,034 | €41,253 | - | - |
| Cash at bank and in hand54/58 | €299,563 | €796,685 | €556,368 | €545,363 | €99,378 | ▼ 81.8% |
| Deferred charges and accrued income490/1 | - | €82 | €105 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.7m | €4.6m | €4.1m | €3.9m | €3.6m | ▼ 8.1% |
| Equity10/15 | -€1.3m | -€1.2m | -€1.1m | -€1.0m | -€937,542 | ▲ 10.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Profit (loss) carried forward14 | -€1.4m | -€1.3m | -€1.1m | -€1.1m | -€999,542 | ▲ 10.1% |
| Provisions and deferred taxes16 | €107,261 | €118,405 | €129,549 | €140,693 | €151,837 | ▲ 7.9% |
| Provisions for liabilities and charges160/5 | €107,261 | €118,405 | €129,549 | €140,693 | €151,837 | ▲ 7.9% |
| Major repairs and maintenance162 | €107,261 | €118,405 | €129,549 | €140,693 | €151,837 | ▲ 7.9% |
| Amounts payable17/49 | €4.9m | €5.7m | €5.0m | €4.8m | €4.4m | ▼ 9.1% |
| Amounts payable after more than one year17 | €3.9m | €5.0m | €4.7m | €4.3m | €4.0m | ▼ 8.1% |
| Financial debts170/4 | - | €5.0m | €4.6m | €4.3m | €4.0m | ▼ 7.9% |
| Credit institutions173 | - | €5.0m | €4.6m | €4.3m | €4.0m | ▼ 7.9% |
| Other amounts payable178/9 | €3.9m | €27,849 | €21,610 | €19,610 | €8,860 | ▼ 54.8% |
| Amounts payable within one year42/48 | €932,108 | €747,789 | €381,817 | €523,517 | €430,619 | ▼ 17.7% |
| Current portion of amounts payable after more than one year42 | - | €348,528 | €354,146 | €359,854 | €365,654 | ▲ 1.6% |
| Financial debts43 | €782,000 | - | - | - | - | - |
| Credit institutions430/8 | €782,000 | - | - | - | - | - |
| Trade debts44 | €134,999 | €399,260 | €26,644 | €125,206 | €58,923 | ▼ 52.9% |
| Suppliers440/4 | €134,999 | €399,260 | €26,644 | €125,206 | €58,923 | ▼ 52.9% |
| Advances received on contracts in progress46 | €15,109 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | €1,027 | €38,457 | €6,042 | ▼ 84.3% |
| Taxes450/3 | - | - | €1,027 | €38,457 | €6,042 | ▼ 84.3% |
| Accrued charges and deferred income492/3 | €469 | €308 | €6,645 | €6,210 | €5,767 | ▼ 7.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,383 | €117,569 | €144,102 | €9,559 | €111,998 | ▲ 1,072% |
| + Depreciation and write-downs630 | €134,735 | €134,896 | €210,278 | €243,751 | €243,910 | ▲ 0.1% |
| Operating cash flow (approximation) | €172,119 | €252,464 | €354,380 | €253,310 | €355,908 | ▲ 40.5% |
| Investment in fixed assets (approximation) | - | -€323,758 | -€55,519 | €0 | -€505,662 | - |
| Change in cash | - | €497,122 | -€240,318 | -€11,004 | -€445,985 | ▼ 3,953% |
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
01-09
State Gazette act
Reappointment: RSM InterAudit SA (statutory auditor)Power of attorney5 facts ▸
State Gazette act
Reappointment: RSM InterAudit SA (statutory auditor)
Power of attorney5 facts ▸
- General meeting, 25-06-2026
- Auditor reappointment, RSM InterAudit SA (statutory auditor)
- Power of attorney, Jean-Matthieu Jonet
- Power of attorney, Guillaume Hellebaut
- Power of attorney
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €144,102 ▲22.6%
Operating result €218,300, net result €144,102, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 1.58
Current ratio from 0.40 to 1.58; short-term debt falls from €932,108 to €747,789.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €37,383
Net result €37,383 after 2 loss-making years.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€37,616
Net result drops to -€37,616, the lowest in the series; recovery starts the following year.
08-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 39 days late
Show earlier events
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 5 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 21 acts read
About the unread acts
Of the 21 Belgian State Gazette acts we know for this company, 1 has been read. The other 20 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
Statutory auditor 1
RSM InterAudit SA
CurrentStatutory auditor · since 01-09-2026 · perm. rep.: Vincent Thyrion
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 →
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2009
Ground area
1.8 ha
Building footprint
3,621 m²
Volume, LiDAR
51,145 m³
2 parcels, Wallonia · tallest building 22.9 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Jean Mermoz 1, 6041 Charleroi
since 20092.179.074.910
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0621/00F000indicative | Wallonia | 1.0 ha | 1 · 1,772 m² | 22.9 m · 6 fl. |
| 52028B0299/04G000 | Wallonia | 7,777 m² | 1 · 1,849 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| RSM InterAudit SA |
|
Structure & network
Owners and holdings
1 ownerChain of control
- MEGIMMO
- SNF
Highest known parent: MEGIMMO. The sources do not say who stands above it.
Owners 1
- MEGIMMOparentSourceaccounts MEGIMMO 2025100%
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
No current directors or connected companies found in the register.
Similar companies · same sector and region
3B DEVELOPMENT
BE 1001.416.518
Waterloo
ALL Project
BE 1011.520.750
Waterloo
AUTOCOURONNE
BE 0403.450.813
Waterloo
BT PROPERTIES
BE 1011.802.941
Waterloo
CB2.Invest
BE 0837.072.287
Waterloo
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 9,146 companies in sector 68201 we hold annual accounts for 6,770. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-06-2009
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
43110Demolition
68110Buying and selling of own real estate
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0812206041
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.