SOTRAGEX
ActiveSummary
The computed 12-month bankruptcy probability of SOTRAGEX is 2.9% (moderate). The 2024 annual accounts show equity of €72,670 and a net result of €32,750. Equity is growing by ~63% per year across the filed fiscal years. Its solvency ranks better than 32% of 36386 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability86▼-14
Solvency55▼-23
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
2.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.52 in 2023; short-term debt: 70% and cash: 49.2% of total assets), and 70% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
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 2024Solvency, return and age of the figures
Solvency
30%
Return on assets
13.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
30 d late
2023
31 d late
2022
41 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 34 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€72,670▲ 78.3%
2023 · €40,753
Total assets
€242,337▲ 215%
2023 · €76,943
Net result
€32,750▲ 61.6%
2023 · €20,267
Working capital
€13,722▼ 27.1%
2023 · €18,830
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
Line202220232024
Operating result€28,678-€28,891▲ 0.7%€49,704▲ 72.0%
Net result€20,286within the sector's middle half-€20,267within the sector's middle half▼ 0.1%€32,750above the sector's middle half▲ 61.6%
Equity€21,286within the sector's middle half-€40,753within the sector's middle half▲ 91.5%€72,670within the sector's middle half▲ 78.3%
Total assets€54,867below the sector's middle half-€76,943within the sector's middle half▲ 40.2%€242,337within the sector's middle half▲ 215%
Debt€33,581-€36,190▲ 7.8%€169,667▲ 369%
Working capital-€3,534below the sector's middle half-€18,830within the sector's middle half€13,722within the sector's middle half▼ 27.1%
Solvency38.8%within the sector's middle half-53.0%within the sector's middle half▲ 14.2pp30.0%within the sector's middle half▼ 23.0pp
Current ratio0.89below the sector's middle half-1.52within the sector's middle half▲ 0.631.08below the sector's middle half▼ 0.44
Return on assets (ROA)37.0%above the sector's middle half-26.3%above the sector's middle half▼ 10.6pp13.5%within the sector's middle half▼ 12.8pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2024 is 72% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €242,337
Fixed assets
€58,948 ▲ 169%
Current assets
€183,389 ▲ 233%
Equity and liabilities €242,337
Equity
€72,670 ▲ 78.3%
Debt
€169,667 ▲ 369%
Debt's share of the balance-sheet total rises from 47.0% to 70.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€67,428▲
2023 · €41,912
Cash flow
€50,473▲
2023 · €33,288
Debt to equity
2.33▲
2023 · 0.89
ROE
45.1%▼
2023 · 49.7%
Interest coverage
42.57▼
2023 · 97.96
Debt ≤ 1 year
€169,667▲
2023 · €36,190
Income taxes
€15,875▲
2023 · €8,196
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
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 bankruptcy probability of 2.9% 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 7,976 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 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,817 | €13,020 | €17,724 | ▲ 36.1% |
| Other operating charges640/8 | €1,944 | €3,172 | €4,170 | ▲ 31.5% |
| Gross operating margin9900 | €40,440 | €45,083 | €71,598 | ▲ 58.8% |
| Operating profit (loss)9901 | €28,678 | €28,891 | €49,704 | ▲ 72.0% |
| Financial income75/76B | €172 | €0 | €504 | ▲ 179,871% |
| Recurring financial income75 | €172 | €0 | €504 | ▲ 179,871% |
| Financial charges65/66B | €107 | €428 | €1,584 | ▲ 270% |
| Recurring financial charges65 | €107 | €428 | €1,584 | ▲ 270% |
| Profit (loss) for the period before taxes9903 | €28,743 | €28,464 | €48,624 | ▲ 70.8% |
| Income taxes67/77 | €8,457 | €8,196 | €15,875 | ▲ 93.7% |
| Profit (loss) for the period9904 | €20,286 | €20,267 | €32,750 | ▲ 61.6% |
| Profit (loss) for the period to be appropriated9905 | €20,286 | €20,267 | €32,750 | ▲ 61.6% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €54,867 | €76,943 | €242,337 | ▲ 215% |
| Fixed assets21/28 | €24,820 | €21,923 | €58,948 | ▲ 169% |
| Intangible fixed assets21 | - | €3,138 | €2,354 | ▼ 25.0% |
| Tangible fixed assets22/27 | €24,820 | €18,785 | €56,594 | ▲ 201% |
| Plant, machinery and equipment23 | €12,411 | €8,196 | €3,825 | ▼ 53.3% |
| Furniture and vehicles24 | €12,409 | €10,589 | €52,770 | ▲ 398% |
| Current assets29/58 | €30,047 | €55,020 | €183,389 | ▲ 233% |
| Amounts receivable within one year40/41 | €10,788 | €40,292 | €56,418 | ▲ 40.0% |
| Trade receivables40 | €5,300 | €24,018 | €33,426 | ▲ 39.2% |
| Other amounts receivable41 | €5,488 | €16,274 | €22,992 | ▲ 41.3% |
| Cash at bank and in hand54/58 | €18,656 | €13,289 | €119,253 | ▲ 797% |
| Deferred charges and accrued income490/1 | €602 | €1,439 | €7,718 | ▲ 436% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €54,867 | €76,943 | €242,337 | ▲ 215% |
| Equity10/15 | €21,286 | €40,753 | €72,670 | ▲ 78.3% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €18,000 | €33,000 | €63,000 | ▲ 90.9% |
| Distributable reserves133 | €18,000 | €33,000 | €63,000 | ▲ 90.9% |
| Profit (loss) carried forward14 | €2,286 | €6,753 | €8,670 | ▲ 28.4% |
| Amounts payable17/49 | €33,581 | €36,190 | €169,667 | ▲ 369% |
| Amounts payable within one year42/48 | €33,581 | €36,190 | €169,667 | ▲ 369% |
| Current portion of amounts payable after more than one year42 | - | - | €54,175 | - |
| Trade debts44 | €22,443 | €20,730 | €100,088 | ▲ 383% |
| Suppliers440/4 | €22,443 | €20,730 | €100,088 | ▲ 383% |
| Taxes, remuneration and social security45 | €4,457 | €13,641 | €14,571 | ▲ 6.8% |
| Taxes450/3 | €4,457 | €13,641 | €14,571 | ▲ 6.8% |
| Other amounts payable47/48 | €6,681 | €1,819 | €833 | ▼ 54.2% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,286 | €20,267 | €32,750 | ▲ 61.6% |
| + Depreciation and write-downs630 | €9,817 | €13,020 | €17,724 | ▲ 36.1% |
| Operating cash flow (approximation) | €30,103 | €33,288 | €50,473 | ▲ 51.6% |
| Investment in fixed assets (approximation) | - | -€10,123 | -€54,749 | ▼ 441% |
| Change in cash | - | -€5,368 | €105,965 | ▲ 2,074% |
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
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2022net €32,750 ▲61.6%
Operating result €49,704, net result €32,750, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet €20,267 ▼0.1%
Net result drops to €20,267, the lowest in the series; recovery starts the following year.
10-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 41 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Walhain · 1 establishment unit since 2022
Ground area
8,777 m²
Building footprint
3,706 m²
Parcel 25104B0492/00E000, Wallonia. Linked by address, not a title deed.
1 establishment unit
SOTRAGEX
since 20222.327.630.311
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25104B0492/00E000 | Wallonia | 8,777 m² | 1 · 3,706 m² | - |
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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Of 8,465 companies in sector 43120 we hold annual accounts for 3,233. 2,596 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
Founded11-02-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43350Other building finishing work
49410Freight transport by road
52210Service activities incidental to land transportation
81300Landscape service activities
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0781877705
Registered
19-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.