SODELFRA
ActiveSummary
SODELFRA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show negative equity (-€434,956) and a net result of €68,090. Equity is growing by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 5% of 102 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability82▲+2
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.11 in 2025; short-term debt: 85% and cash: 1.7% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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 2026Solvency, return and age of the figures
Solvency
-65.3%
Return on assets
10.2%
Age of the figures
6 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 102 sector peers (2026).
NBB · sector comparisonPosition among 102 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 25-09-2026, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
36 d early
2025
26 d late
2024
1 d early
2023
32 d early
2022
80 d early
2021
96 d early
2020
31 d early
← 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 36 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€68,090▲ 8.2%
2025 · €62,945
Working capital
-€503,086▲ 17.1%
2025 · -€606,993
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Operating result€27,653€65,029▲ 135%€78,482▲ 20.7%€73,251▼ 6.7%€80,001▲ 9.2%
Net result€25,580within the sector's middle half€58,050within the sector's middle half▲ 127%€66,574within the sector's middle half▲ 14.7%€62,945within the sector's middle half▼ 5.5%€68,090▲ 8.2%
Equity-€690,615below the sector's middle half▲ 3.6%-€632,566below the sector's middle half▲ 8.4%-€565,992below the sector's middle half▲ 10.5%-€503,047below the sector's middle half▲ 11.1%-€434,956▲ 13.5%
Total assets€310,366within the sector's middle half▼ 22.9%€847,587within the sector's middle half▲ 173%€780,232within the sector's middle half▼ 7.9%€718,593within the sector's middle half▼ 7.9%€666,300▼ 7.3%
Debt€1.0m▼ 10.5%€1.5m▲ 47.9%€1.3m▼ 9.0%€1.2m▼ 9.3%€1.1m▼ 9.9%
Working capital-€654,161below the sector's middle half▲ 11.5%-€821,466below the sector's middle half▼ 25.6%-€709,449below the sector's middle half▲ 13.6%-€606,993below the sector's middle half▲ 14.4%-€503,086▲ 17.1%
Solvency-222.5%below the sector's middle half▼ 44.6pp-74.6%below the sector's middle half▲ 147.9pp-72.5%below the sector's middle half▲ 2.1pp-70.0%below the sector's middle half▲ 2.5pp-65.3%▲ 4.7pp
Current ratio0.05below the sector's middle half▼ 0.010.08below the sector's middle half▲ 0.030.09below the sector's middle half▲ 0.010.11below the sector's middle half▲ 0.010.11=
Return on assets (ROA)8.2%within the sector's middle half▲ 10.3pp6.8%within the sector's middle half▼ 1.4pp8.5%within the sector's middle half▲ 1.7pp8.8%within the sector's middle half▲ 0.2pp10.2%▲ 1.5pp
Staff (FTE)0.3below the sector's middle half0.3below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2026; 2026 is 9% above 2025 and is the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €666,300
Fixed assets
€603,114 ▼ 6.7%
Current assets
€63,186 ▼ 12.8%
Key figures and ratios
EBITDA
€154,164▼
2025 · €158,674
Cash flow
€142,253▼
2025 · €148,369
Debt to equity
-2.53▼
2025 · -2.43
Interest coverage
12.94▼
2025 · 15.37
Debt ≤ 1 year
€566,272▼
2025 · €679,429
Debt > 1 year
€534,985▼
2025 · €542,211
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 317 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 92% are still going.
- Small
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
4.1%
stopped otherwise
92%
still going
A further 2.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,662 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% | 1.7% |
| 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 75% 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 317 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,426 | €33,148 | - | - | - | - |
| Remuneration, social security and pensions62 | €10,463 | €6,308 | €1,325 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,931 | €76,426 | €108,382 | €85,423 | €74,163 | ▼ 13.2% |
| Other operating charges640/8 | €2,097 | €3,897 | €2,833 | €1,512 | €11,196 | ▲ 641% |
| Gross operating margin9900 | €126,143 | €151,661 | €191,022 | €160,186 | €165,361 | ▲ 3.2% |
| Operating profit (loss)9901 | €27,653 | €65,029 | €78,482 | €73,251 | €80,001 | ▲ 9.2% |
| Financial income75/76B | €27 | €85 | €71 | €20 | €3 | ▼ 85.3% |
| Recurring financial income75 | €27 | €85 | €71 | €20 | €3 | ▼ 85.3% |
| Financial charges65/66B | €2,100 | €7,064 | €11,979 | €10,325 | €11,914 | ▲ 15.4% |
| Recurring financial charges65 | €2,100 | €7,064 | €11,979 | €10,325 | €11,914 | ▲ 15.4% |
| Profit (loss) for the period before taxes9903 | €25,580 | €58,050 | €66,574 | €62,945 | €68,090 | ▲ 8.2% |
| Profit (loss) for the period9904 | €25,580 | €58,050 | €66,574 | €62,945 | €68,090 | ▲ 8.2% |
| Profit (loss) for the period to be appropriated9905 | €25,580 | €58,050 | €66,574 | €62,945 | €68,090 | ▲ 8.2% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €310,366 | €847,587 | €780,232 | €718,593 | €666,300 | ▼ 7.3% |
| Fixed assets21/28 | €276,482 | €774,269 | €706,336 | €646,158 | €603,114 | ▼ 6.7% |
| Intangible fixed assets21 | €41,560 | €41,560 | €33,248 | €24,936 | €16,624 | ▼ 33.3% |
| Tangible fixed assets22/27 | €234,222 | €731,009 | €671,388 | €619,522 | €585,790 | ▼ 5.4% |
| Plant, machinery and equipment23 | €83,445 | €54,490 | €26,439 | €21,671 | €19,945 | ▼ 8.0% |
| Furniture and vehicles24 | €3,397 | €62,150 | €65,173 | €59,737 | €60,341 | ▲ 1.0% |
| Leasing and similar rights25 | €46,223 | €46,387 | €29,706 | €9,429 | €5,153 | ▼ 45.3% |
| Other tangible fixed assets26 | €101,158 | €567,983 | €550,071 | €528,685 | €500,350 | ▼ 5.4% |
| Financial fixed assets28 | €700 | €1,700 | €1,700 | €1,700 | €700 | ▼ 58.8% |
| Current assets29/58 | €33,883 | €73,318 | €73,896 | €72,436 | €63,186 | ▼ 12.8% |
| Amounts receivable within one year40/41 | €20,602 | €50,015 | €35,447 | €30,981 | €51,286 | ▲ 65.5% |
| Trade receivables40 | €20,602 | €50,015 | €35,447 | €30,981 | €50,914 | ▲ 64.3% |
| Other amounts receivable41 | - | - | - | - | €372 | - |
| Cash at bank and in hand54/58 | €13,282 | €23,220 | €38,367 | €41,374 | €11,222 | ▼ 72.9% |
| Deferred charges and accrued income490/1 | - | €82 | €82 | €80 | €679 | ▲ 749% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €310,366 | €847,587 | €780,232 | €718,593 | €666,300 | ▼ 7.3% |
| Equity10/15 | -€690,615 | -€632,566 | -€565,992 | -€503,047 | -€434,956 | ▲ 13.5% |
| Contributions10/11 | €85,000 | €85,000 | €85,000 | €85,000 | €85,000 | = |
| Profit (loss) carried forward14 | -€775,615 | -€717,566 | -€650,992 | -€588,047 | -€519,956 | ▲ 11.6% |
| Amounts payable17/49 | €1.0m | €1.5m | €1.3m | €1.2m | €1.1m | ▼ 9.9% |
| Amounts payable after more than one year17 | €312,936 | €585,369 | €562,878 | €542,211 | €534,985 | ▼ 1.3% |
| Financial debts170/4 | €15,464 | €287,897 | €265,406 | €244,739 | €237,513 | ▼ 3.0% |
| Other amounts payable178/9 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Amounts payable within one year42/48 | €688,045 | €894,784 | €783,345 | €679,429 | €566,272 | ▼ 16.7% |
| Current portion of amounts payable after more than one year42 | €16,287 | €31,573 | €22,491 | €20,667 | €25,101 | ▲ 21.5% |
| Trade debts44 | €5,381 | €22,615 | €9,848 | €6,718 | €4,658 | ▼ 30.7% |
| Suppliers440/4 | €5,381 | €22,615 | €9,848 | €6,718 | €4,658 | ▼ 30.7% |
| Advances received on contracts in progress46 | - | €4,468 | - | - | - | - |
| Taxes, remuneration and social security45 | €4,006 | €5,988 | €14,113 | €21,935 | €13,603 | ▼ 38.0% |
| Taxes450/3 | €2,875 | €514 | €11,613 | €19,421 | €12,824 | ▼ 34.0% |
| Remuneration and social security454/9 | €1,131 | €5,474 | €2,500 | €2,514 | €779 | ▼ 69.0% |
| Other amounts payable47/48 | €662,370 | €830,141 | €736,894 | €630,109 | €522,910 | ▼ 17.0% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,580 | €58,050 | €66,574 | €62,945 | €68,090 | ▲ 8.2% |
| + Depreciation and write-downs630 | €85,931 | €76,426 | €108,382 | €85,423 | €74,163 | ▼ 13.2% |
| Operating cash flow (approximation) | €111,510 | €134,476 | €174,956 | €148,369 | €142,253 | ▼ 4.1% |
| Investment in fixed assets (approximation) | - | -€574,213 | -€40,448 | -€25,245 | -€31,119 | ▼ 23.3% |
| Change in cash | - | €9,939 | €15,146 | €3,008 | -€30,153 | ▼ 1,103% |
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 2027, expected by
2026
25-09
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
31-03
Financial
Highest result since 2019net €68,090 ▲8.2%
Operating result €80,001, net result €68,090, both a record.
2025
26-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
12-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Back to profitnet €25,580
Net result €25,580 after 2 loss-making years.
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Weakest financial yearnet -€124,516
Net result drops to -€124,516, the lowest in the series; recovery starts the following year.
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Rixensart · 1 establishment unit since 2008
Ground area
6,129 m²
Building footprint
339 m²
Volume, LiDAR
2,192 m³
Parcel 25091E0297/00C000, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SODELFRA
since 20082.175.450.573
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25091E0297/00C000 | Wallonia | 6,129 m² | 1 · 339 m² | 8.9 m · 2 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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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 4,269 companies in sector 43230 we hold annual accounts for 1,239. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-04-1991
Fiscal year end31-03
Activities, NACEBEL 2025
43230Insulation installation
31002Manufacture of furniture
43211General electrical installation work
43240Other construction installation
43350Other building finishing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444047192
Registered
27-03-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.