SOFINSUD
ActiveSummary
SOFINSUD has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.0m and a net result of -€1.2m. Equity is growing by about 8.5% per year across the filed financial years. Its solvency ranks better than 94% of 5,718 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Equity
- €9.0m
- Loss
- -€1.2m
- Parent
- AG REAL ESTATE · 100%
- Astrid FLAMANDDirector
- Amaury de Crombrugghe SRLDirector
- Marc Van Begin SRLDirector
Why 84raises riskLiquidity: current ratio 0.01Loss of €1.2m, the second in a row (financial year 2025)lowers riskSize: total assets €9.3mFounded in 1989Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 92% on solvency, 99% on liquidity, 1% on profitability and 21% on growth.
The bankruptcy probability was computed on 17-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 47 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Resignation: Laurent Stalens RE SRL (director)Permanent representatives: Laurent STALENS, Amaury…
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €1.2m in 2025 against €85,293 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 147 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 91.8% are still going.
- Medium-sized
- solvency 30% or more
- a loss of 10% of the balance sheet or more
- without age
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 147 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 1.9% |
| Other operating charges640/8 | - | - | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▲ 3.5% |
| Non-recurring operating charges66A | - | - | - | €98 | - | - | - | - | - |
| Gross operating margin9900 | €1.0m | €1.1m | €1.2m | €0.9m | €1.3m | €1.0m | €0.8m | -€0.3m | - |
| Operating profit (loss)9901 | €0.04m | €0.3m | €0.3m | €0.08m | €0.4m | €0.1m | -€0.09m | -€1.2m | ▼ 1,287% |
| Financial income75/76B | - | - | - | €0.003m | €0.02m | €1.0m | €0.2m | €0.006m | ▼ 97.4% |
| Recurring financial income75 | €14 | €0.002m | €308 | €0.003m | €0.02m | €1.0m | €0.2m | €0.006m | ▼ 97.4% |
| Financial charges65/66B | - | - | - | €0.1m | €1.3m | €0.3m | €0.2m | €0.001m | ▼ 99.4% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.2m | €0.1m | €1.3m | €0.3m | €0.2m | €0.001m | ▼ 99.4% |
| Profit (loss) for the period before taxes9903 | -€0.1m | €0.8m | €0.2m | -€0.02m | -€0.9m | €0.9m | -€0.03m | -€1.2m | ▼ 4,016% |
| Income taxes67/77 | €0.09m | €0.4m | €1.4m | €0.08m | €1.2m | -€0.6m | €0.02m | €0.04m | ▲ 91.4% |
| Profit (loss) for the period9904 | -€0.2m | €0.3m | -€0.09m | -€0.1m | -€2.1m | €1.5m | -€0.05m | -€1.2m | ▼ 2,266% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.9m | €3.3m | -€0.1m | -€2.1m | €1.5m | -€0.05m | -€1.2m | ▼ 2,266% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €14.4m | €14.2m | €12.7m | €12.1m | €11.4m | €13.3m | €10.3m | €9.3m | ▼ 10.3% |
| Fixed assets21/28 | €12.4m | €11.9m | €11.4m | €10.9m | €10.6m | €10.2m | €9.7m | €9.3m | ▼ 5.0% |
| Tangible fixed assets22/27 | €12.4m | €11.9m | €11.4m | €10.9m | €10.6m | €10.2m | €9.7m | €9.3m | ▼ 5.0% |
| Land and buildings22 | - | - | - | €10.1m | €9.9m | €9.6m | €9.2m | €8.8m | ▼ 4.4% |
| Plant, machinery and equipment23 | - | - | - | €0.8m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 13.5% |
| Financial fixed assets28 | €0.01m | - | €1 | €1 | €1 | €1 | €1 | €1 | = |
| Current assets29/58 | €1.9m | €2.3m | €1.3m | €1.2m | €0.8m | €3.1m | €0.6m | €0.002m | ▼ 99.7% |
| Amounts receivable within one year40/41 | €1.9m | €2.1m | €0.9m | €1.0m | €0.7m | €3.1m | €0.6m | €0.002m | ▼ 99.7% |
| Trade receivables40 | - | - | - | €0.3m | €0.2m | €0.09m | €0.008m | €0.002m | ▼ 80.5% |
| Other amounts receivable41 | - | - | - | €0.7m | €0.5m | €3.0m | €0.6m | - | - |
| Cash at bank and in hand54/58 | €0.05m | €0.1m | €0.3m | €0.06m | €0.06m | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.05m | €0 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €14.4m | €14.2m | €12.7m | €12.1m | €11.4m | €13.3m | €10.3m | €9.3m | ▼ 10.3% |
| Equity10/15 | €2.7m | €3.0m | €2.9m | €2.8m | €0.8m | €2.3m | €10.2m | €9.0m | ▼ 11.9% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €9.0m | €9.0m | = |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €9.0m | €9.0m | = |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €9.0m | €9.0m | = |
| Reserves13 | €3.9m | €3.4m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€2.3m | -€1.4m | €1.8m | €1.7m | -€0.4m | €1.2m | €1.1m | -€0.1m | - |
| Provisions and deferred taxes16 | €1.2m | €1.1m | - | - | - | - | - | - | - |
| Amounts payable17/49 | €10.5m | €10.0m | €9.7m | €9.3m | €10.6m | €11.0m | €0.08m | €0.2m | ▲ 193% |
| Amounts payable after more than one year17 | - | €5.4m | €8.0m | - | €8.0m | - | - | - | - |
| Financial debts170/4 | - | - | - | - | €8.0m | - | - | - | - |
| Amounts payable within one year42/48 | €10.4m | €4.4m | €1.1m | €8.6m | €2.5m | €10.7m | €0.08m | €0.2m | ▲ 193% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8.0m | - | €8.0m | - | - | - |
| Trade debts44 | €0.8m | €0.1m | €0.06m | €0.2m | €175 | €0.006m | €0.08m | €0.2m | ▲ 101% |
| Suppliers440/4 | - | - | - | €0.2m | €175 | €0.006m | €0.08m | €0.2m | ▲ 101% |
| Taxes, remuneration and social security45 | - | - | - | €249 | €2.5m | €162 | €291 | €275 | ▼ 5.4% |
| Taxes450/3 | - | - | - | €249 | €2.5m | €162 | €291 | €275 | ▼ 5.4% |
| Other amounts payable47/48 | - | - | - | €0.4m | - | €2.7m | - | €0.08m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.7m | €0.1m | €0.3m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | €0.3m | -€0.09m | -€0.1m | -€2.1m | €1.5m | -€0.05m | -€1.2m | ▼ 2,266% |
| + Depreciation and write-downs630 | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 1.9% |
| Operating cash flow (approximation) | €0.4m | €0.9m | €0.4m | €0.4m | -€1.6m | €2.0m | €0.4m | -€0.7m | - |
| Investment in fixed assets (approximation) | - | €0.01m | -€0.04m | -€0.03m | -€0.2m | -€0.1m | -€0.002m | -€0.005m | ▼ 233% |
| Change in cash | - | €0.07m | €0.2m | -€0.3m | €0.007m | - | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 16-06-2026 | 2026-00193709 |
| 31-12-2024 | full format | 11-06-2025 | 2025-00141562 |
| 31-12-2023 | full format | 17-06-2024 | 2024-00138135 |
| 31-12-2022 | full format | 13-06-2023 | 2023-00129917 |
| 31-12-2021 | full format | 09-06-2022 | 2022-20061689 |
| 31-12-2020 | full format | 11-06-2021 | 2021-19800064 |
| 31-12-2019 | full format | 19-06-2020 | 2020-18300301 |
| 31-12-2018 | micro format | 30-01-2020 | 2020-03200510 |
| 31-12-2017 | micro format | 21-09-2018 | 2018-63900595 |
| 31-12-2016 | full format | 31-08-2017 | 2017-57600378 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Permanent representatives 2
Statutory auditor 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Astrid FLAMAND |
|
| Amaury de Crombrugghe SRL |
|
| Marc Van Begin SRL |
|
| SRL SINIO |
|
| SRL Laurent Stalens RE |
|
Owners and capital
Owners
1 ownerChain of control
Highest known parent: ageas SA/NV. The sources do not say who stands above it.
Owners 1
- AG REAL ESTATEparent100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
34 connected companiesShow 30 more companies with a shared director
History
Acts, filings and financial milestones
18-06
Gazette deed
Resignation: Laurent Stalens RE SRL (director)Permanent representatives: Laurent STALENS, Amaury DE CROMBRUGGHE and 2 others · Appointment: Astrid FLAMAND (director) · Reappointments: Amaury de Crombrugghe SRL, Marc Van Begin SRL and Sinio SRL10 facts ▸
- General meeting, 02-06-2026
- Director resignation, Laurent Stalens RE SRL (director)
- Permanent representative, Laurent STALENS
- Director appointment, Astrid FLAMAND (director)
- Director reappointment, Amaury de Crombrugghe SRL (director)
- Director reappointment, Marc Van Begin SRL (director)
- Permanent representative, Amaury DE CROMBRUGGHE
- Permanent representative, Marc VAN BEGIN
- Auditor reappointment, Sinio SRL (statutory auditor)
- Permanent representative, Olivier RONSMANS
22-10
Gazette deed
Resignation: Xavier Denis (director)Appointment: Marc Van Begin (director) · Permanent representative: Marc Van Begin4 facts ▸
- General meeting, 26-08-2024
- Director resignation, Xavier Denis (director)
- Director appointment, Marc Van Begin (director)
- Permanent representative, Marc Van Begin
29-08
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Power of attorney5 facts ▸
- General meeting, 26-08-2024
- Other provision, “renonciation aux rapports de l'article 7:179, rapports prévus par ce même article” (deed in French)
- Capital increase, €8,000,000
- Amendment of the articles, 5
- Power of attorney (2 times)
Show earlier events
About the unread acts
Of the 21 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 18 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 18 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21805E0482/00C000 | Brussels | 3,149 m² | 1 · 3,026 m² | 31.9 m · 9 |