Equity
€3.3m ▼ 13.4%
SODEWA paid out €800,000 in dividends. That is 273% of the 2025 profit.
SODEWA
Lifetime
17 annual accounts with figures on one time axispeak €3.4m (2019)
€1.5m▼ 3.4%
lowest -€610,397 (2015)
€293,206▲ 36×
peak €3.8m (2024)
€3.3m▼ 13.4%
€3.5m▲ 13.3%
peak 5 FTE (2019)
4.7 FTE▲ 38.2%
Board6 names since 2021
2 directorsHOLDING DM and 1 other
Owners9 names in the annual accountsall names
50%HEIDEVELD and 2 others
Documentsfilings and deeds
30-09-202661 days late
2025financial year
Result from €8,165 to €293,206Staff from 3.4 FTE to 4.7 FTE3 directors resigning, 2 reappointments 04-07Dividend €800,000Equity from €3.8m to €3.3m
Key points
from the 2025 annual accountsResult
€293,206 ▲ 36×
The result rose in 2025 from €8,165 to €293,206.
Turnover
≈ €4.3m estimated
The accounts state no turnover.
Staff
5 employees on 31-12-2025
In 2025, 2 people joined and 1 left.
Filings
17 annual accounts 61 days
Latest accounts filed late: after the legal deadline.
Position in the sector
€3.3m
More equity than 86% of companies in specialised construction. Sector median €459,014 · 2,463 companies.
Checked score
91
Excellent
Financially stronger than 42% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 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: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: 0.1%▲ +0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: < 0.1%▼ -0.1 percentage points vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: 0.1%▲ +0.1 percentage points vs 01-2026
03-2026: < 0.1%▼ -0.1 percentage points vs 02-2026
04-2026: 0.1%▲ +0.1 percentage points vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.2 percentage points vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026highest value
10-2026: 0.1%▼ -0.2 percentage points vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 61 days late; 1 of the last 3 accounts late
lowers risk
Size: 4.7 FTE, total assets €8.2m
Founded in 2008
Figures for financial year 2025 (filed on 30-09-2026)
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 43, micro). It does better than 43% of them on solvency, 60% on liquidity, 45% on profitability and 22% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 10,904 companies had the same profile as SODEWA has now. Each dot stands for 28 companies, two years later.
95.1%
were still trading
4.0%
stopped another way
0.7%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SODEWA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 10,904 companies, not a prediction for SODEWA. 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
Credit of up to €290,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.2 (2.22 in 2024), below the usual 1.5. Short-term debt is 20.5% and cash 14.9% of total assets. 59.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · A punctual record breaks
This company filed 7 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
61 days late
2024
31 days early
2023
28 days early
2022
34 days early
2021
2 days early
2020
32 days early
2019
37 days early
← 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 15 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 4 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Holding DM SA consolidatesannual accounts 2025
- Mirec SRL consolidatesannual accounts 2025
- HEIDEVELD 50%score 96equity €32.8m (2025) · 2025 annual accounts of HEIDEVELD
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0898592162
3 directors resigning, 2 reappointments
Resignations: Jean Putmans, Brumic and Holding DM · Permanent representatives: Johan Cromphout, André De Meuter and Aster De Meuter · Reappointments: Brumic and Holding DM · General meeting of 19-06-2025 · Gazette deed
3 directors resigning
Anna Stallaert SRL, Etablissements Maurice Wanty SA and Michel Verhaeren · Director discharge: Michel Verhaeren · Director discharge: Anna Stallaert SRL · General meeting of 19-06-2024 · Gazette deed
1 director appointed, 1 resignation
Resignation: Michel Verhaeren · Appointment: Brumic srl · Permanent representative: Johar Cromphout · General meeting of 21-02-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SODEWA Braine-l'Alleud | €8.2m | €1.5m | 40.1% | 4.7 |
| LOONWERK MARRANNES Koksijde | €5.3m | €1.3m | 51.8% | 5.5 |
| maeyaert aannemingen Roeselare | €6.0m | €2.0m | 72.4% | 3 |
| RYCKEWAERT Koekelare | €4.7m | €1.2m | 41.0% | 3.7 |
| GRONDBALANS Wuustwezel | €8.2m | €0.8m | 75.9% | 4 |
| BROSENS AANNEMINGEN Essen | €4.4m | €1.7m | 70.5% | 6.5 |
| DERYCKERE-D'HONDT Moorslede | €5.5m | €0.9m | 17.6% | 3.2 |
These companies have the same main activity as SODEWA: site preparation (NACE 43120). They are comparable in size and age: total assets between €4.4m and €8.2m, founded between 2005 and 2010.
Official details
Source: KBO- Status
- Active since 10-06-2008Normal situation
- Activity
- Site preparationNACE 43120
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2022
- Establishment unit
- 2.171.750.1231420 Braine-l'Alleud, since 10-07-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 06-02-2026
Insights on SODEWA
SODEWA has existed since 2008. In 2017 the gross margin rose from €773,613 to €2.5m and staff from 0.2 to 1.3 full-time equivalents.
The gross margin has fallen every year since 2022. Solvency fell in 2025 from 45.8% to 40.1% because of the dividend.
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 SODEWA
- What is the company number of SODEWA?
- The company number of SODEWA is 0898.592.162. The VAT number is the same number with BE in front: BE 0898.592.162.
- Where is SODEWA based?
- The registered office is at Avenue de l'Industrie 7, 1420 Braine-l'Alleud.Company details
- What does SODEWA do?
- According to the KBO register, the main activity is site preparation (NACE 43120).
- What is the legal form of SODEWA?
- SODEWA is a public limited company (NV).
- When was SODEWA founded?
- SODEWA was founded on 10-06-2008.
- Is SODEWA still active?
- Yes, SODEWA is an active enterprise in the KBO register.
- How many employees does SODEWA have?
- SODEWA had an average of 4.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does SODEWA fall under?
- In its 2022 annual accounts, SODEWA states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of SODEWA?
- The turnover in financial year 2025 is ≈ €4.3m. This figure is estimated from the gross margin of €1.5m and 67 comparable companies (NACE 43). It probably lies between €3.3m and €5.8m.
- Is SODEWA profitable?
- In financial year 2025, SODEWA made a profit of €293,206.
- Where can I find the annual accounts of SODEWA?
- SODEWA filed 17 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SODEWA due?
- SODEWA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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