SOFINO
ActiveSummary
SOFINO has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89k and a net result of €-8k. Equity is shrinking by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 53% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65=
Solvency58▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.01 in 2024; short-term debt: 56.2% and cash: 0.5% of total assets), and 66.9% 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○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 · 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 2025Solvency, return and age of the figures
Solvency
33.1%
Return on assets
-3.1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-8k
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 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
59 d early
2023
58 d early
2022
48 d early
2021
61 d early
2020
61 d early
2019
59 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€89k▼ 8.4%
2024 · €97k
2018: €127khighest in 8 years
2019: €122k▼ -3.9% vs 2018
2020: €119k▼ -2.7% vs 2019
2021: €123k▲ +3.2% vs 2020
2022: €115k▼ -6.3% vs 2021
2023: €106k▼ -8.3% vs 2022
2024: €97k▼ -7.8% vs 2023
2025: €89k▼ -8.4% vs 2024lowest in 8 years
2018 → 2025
Total assets
€269k▼ 4.1%
2024 · €281k
2018: €363khighest in 8 years
2019: €348k▼ -4.3% vs 2018
2020: €327k▼ -5.8% vs 2019
2021: €330k▲ +0.6% vs 2020
2022: €311k▼ -5.5% vs 2021
2023: €294k▼ -5.7% vs 2022
2024: €281k▼ -4.4% vs 2023
2025: €269k▼ -4.1% vs 2024lowest in 8 years
2018 → 2025
Net result
€-8k▼ 0.3%
2024 · €-8k
2018: €-2k
2019: €-5k▼ -210% vs 2018
2020: €-3k▲ +31.5% vs 2019
2021: €7k▲ +302% vs 2020highest in 8 years
2022: €-8k▼ -214% vs 2021
2023: €-10k▼ -22.6% vs 2022lowest in 8 years
2024: €-8k▲ +14.0% vs 2023
2025: €-8k▼ -0.3% vs 2024
2018 → 2025
Working capital
€-150k▲ 1.3%
2024 · €-152k
2018: €-176klowest in 8 years
2019: €-172k▲ +2.5% vs 2018
2020: €-166k▲ +3.4% vs 2019
2021: €-154k▲ +7.4% vs 2020
2022: €-153k▲ +0.2% vs 2021
2023: €-153k▲ +0.1% vs 2022
2024: €-152k▲ +0.9% vs 2023
2025: €-150k▲ +1.3% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€123k-€115k▼ 6.3%€106k▼ 8.3%€97k▼ 7.8%€89k▼ 8.4%
2021: €123khighest in 5 years
2022: €115k▼ -6.3% vs 2021
2023: €106k▼ -8.3% vs 2022
2024: €97k▼ -7.8% vs 2023
2025: €89k▼ -8.4% vs 2024lowest in 5 years
Operating result€8k-€-10k€-12k▼ 18.2%€-10k▲ 11.8%€-9k▲ 7.1%
2021: €8khighest in 5 years
2022: €-10k▼ -227% vs 2021
2023: €-12k▼ -18.2% vs 2022lowest in 5 years
2024: €-10k▲ +11.8% vs 2023
2025: €-9k▲ +7.1% vs 2024
Net result€7k-€-8k€-10k▼ 22.6%€-8k▲ 14.0%€-8k▼ 0.3%
2021: €7khighest in 5 years
2022: €-8k▼ -214% vs 2021
2023: €-10k▼ -22.6% vs 2022lowest in 5 years
2024: €-8k▲ +14.0% vs 2023
2025: €-8k▼ -0.3% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9k in 2025 against €10k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €269k
Fixed assets
€268k ▼ 4.1%
Current assets
€1k ▼ 0.8%
Equity and liabilities €269k
Equity
€89k ▼ 8.4%
Provisions
€29k ▼ 4.6%
Debt
€151k ▼ 1.3%
Debt's share of the balance-sheet total rises from 54.6% to 56.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€2k▲
2024 · €1k
Cash flow
€3k▼
2024 · €3k
Current ratio
0.01▲
2024 · 0.01
Debt to equity
1.70▲
2024 · 1.57
ROE
-9.2%▼
2024 · -8.4%
ROA
-3.1%▼
2024 · -2.9%
Interest coverage
14.12▲
2024 · 11.09
Debt ≤ 1 year
€151k▼
2024 · €153k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €727 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €11k | €12k | €12k | €12k | ▼ 0.9% |
| Other operating charges640/8 | €2k | €2k | €1k | €1k | €1k | ▲ 3.0% |
| Gross operating margin9900 | €20k | €3k | €2k | €3k | €4k | ▲ 22.9% |
| Operating profit (loss)9901 | €8k | €-10k | €-12k | €-10k | €-9k | ▲ 7.1% |
| Financial income75/76B | €0 | €5 | - | - | - | - |
| Recurring financial income75 | €0 | €5 | - | - | - | - |
| Financial charges65/66B | €99 | €139 | €119 | €135 | €150 | ▲ 11.1% |
| Recurring financial charges65 | €99 | €139 | €119 | €135 | €150 | ▲ 11.1% |
| Profit (loss) for the period before taxes9903 | €8k | €-10k | €-12k | €-10k | €-10k | ▲ 6.8% |
| Transfer from deferred taxes780 | €2k | €2k | €2k | €2k | €1k | ▼ 34.6% |
| Income taxes67/77 | €3k | - | - | - | - | - |
| Profit (loss) for the period9904 | €7k | €-8k | €-10k | €-8k | €-8k | ▼ 0.3% |
| Transfer from tax-exempt reserves789 | €4k | €4k | €4k | €4k | €4k | ▲ 1.1% |
| Profit (loss) for the period to be appropriated9905 | €11k | €-4k | €-5k | €-4k | €-4k | ▲ 0.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €330k | €311k | €294k | €281k | €269k | ▼ 4.1% |
| Fixed assets21/28 | €313k | €303k | €291k | €279k | €268k | ▼ 4.1% |
| Tangible fixed assets22/27 | €313k | €303k | €291k | €279k | €268k | ▼ 4.1% |
| Land and buildings22 | €312k | €301k | €290k | €279k | €268k | ▼ 4.0% |
| Furniture and vehicles24 | €523 | €2k | €928 | €414 | - | - |
| Current assets29/58 | €17k | €9k | €2k | €1k | €1k | ▼ 0.8% |
| Amounts receivable within one year40/41 | €8k | €712 | - | - | - | - |
| Trade receivables40 | €8k | - | - | - | - | - |
| Other amounts receivable41 | €94 | €712 | - | - | - | - |
| Cash at bank and in hand54/58 | €9k | €6k | €822 | €123 | €1k | ▲ 896% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €1k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €330k | €311k | €294k | €281k | €269k | ▼ 4.1% |
| Equity10/15 | €123k | €115k | €106k | €97k | €89k | ▼ 8.4% |
| Contributions10/11 | €19k | €20k | €20k | €20k | €19k | ▼ 9.1% |
| Reserves13 | €104k | €95k | €85k | €77k | €71k | ▼ 8.3% |
| Non-distributable reserves130/1 | €2k | - | - | - | - | - |
| Reserves not available under the articles1311 | €2k | - | - | - | - | - |
| Tax-exempt reserves132 | €72k | €68k | €64k | €60k | €56k | ▼ 6.9% |
| Distributable reserves133 | €30k | €26k | €21k | €17k | €15k | ▼ 13.3% |
| Provisions and deferred taxes16 | €36k | €34k | €32k | €30k | €29k | ▼ 4.6% |
| Deferred taxes168 | €36k | €34k | €32k | €30k | €29k | ▼ 4.6% |
| Amounts payable17/49 | €170k | €162k | €156k | €153k | €151k | ▼ 1.3% |
| Amounts payable within one year42/48 | €170k | €162k | €156k | €153k | €151k | ▼ 1.3% |
| Trade debts44 | €1k | €2k | €118 | €129 | €104 | ▼ 19.6% |
| Suppliers440/4 | €1k | €2k | €118 | €129 | €104 | ▼ 19.6% |
| Taxes, remuneration and social security45 | €4k | €3k | - | - | - | - |
| Taxes450/3 | €4k | €3k | - | - | - | - |
| Other amounts payable47/48 | €165k | €157k | €156k | €153k | €151k | ▼ 1.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €-8k | €-10k | €-8k | €-8k | ▼ 0.3% |
| + Depreciation and write-downs630 | €11k | €11k | €12k | €12k | €12k | ▼ 0.9% |
| Operating cash flow (approximation) | €18k | €4k | €2k | €3k | €3k | ▼ 3.5% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | €0 | €0 | - |
| Change in cash | - | €-2k | €-5k | €-698 | €1k | ▲ 258% |
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
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-10k
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €7k
Net result €7k after 3 loss-making years.
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Izegem · 1 establishment unit since 1995
Ground area
600 m²
Building footprint
179 m²
Volume, LiDAR
668 m³
Parcel 36009A0276/00W000, Flanders · tallest building 5.8 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
VIVALDI
since 19952.074.373.506
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36009A0276/00W000 | Flanders | 600 m² | 1 · 178 m² | 5.8 m · 1 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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MEULEMAN BOUWMATERIALEN
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Of 9,143 companies in sector 68201 we hold annual accounts for 6,764. 4,054 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
Founded02-12-1995
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68321Property management for co-owned buildings (syndics)
Scores and ratios are computed by Checked and are not a credit decision.