SSI SCHAFER

Active

Public limited companyfounded 197650 yrs activeAmbachtenlaan 14, 3001 Leuven, BelgiumKBO/BCE: BE 0415.960.744

SSI SCHAFER has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.29M and a net result of €899k. Equity is growing by ~27.8% per year across the filed fiscal years. Its solvency ranks better than 34% of 5988 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2024

58 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability59=

Solvency54▲+13

Growth62▼-17

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €360k at 30 days acceptable

Liquidity tight (current ratio 1.41 against 1.2 in 2023; short-term debt: 70.2% and cash: 1.3% of total assets), and 71.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 46

Relative position

BE, all sectors

reference

Sector 46

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

28.5%

Return on assets

4.1%

Age of the figures

20 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-06-2025, 59 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

59 d early

2023

54 d early

2022

38 d early

2021

33 d early

2020

32 d early

2019

32 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

€42.22M▼ 50.8%

2023 · €85.82M

2018: €43.95M 2019: €61.83M 2020: €19.01M 2021: €33.51M 2022: €16.69M 2023: €85.82M

2018 → 2024

EBIT margin

2.2%▲ 0.4pp

2023 · 1.8%

2018: 0.4% 2019: -0.7% 2020: -4.0% 2021: -0.1% 2022: 0.5% 2023: 1.8%

2018 → 2024

Net result

€899k▼ 37.4%

2023 · €1.44M

2018: €134k 2019: €-413k 2020: €-790k 2021: €-77k 2022: €51k 2023: €1.44M

2018 → 2024

Working capital

€6.32M▲ 14.1%

2023 · €5.54M

2018: €1.50M 2019: €1.06M 2020: €227k 2021: €248k 2022: €3.66M 2023: €5.54M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€19.01M-€33.51M▲ 76.2%€16.69M▼ 50.2%€85.82M▲ 414%€42.22M▼ 50.8%

Equity€382k-€305k▼ 20.1%€3.96M▲ 1,196%€5.39M▲ 36.3%€6.29M▲ 16.7%

Operating result€-752k-€-36k▲ 95.3%€76k€1.57M▲ 1,975%€924k▼ 41.1%

Net result€-790k-€-77k▲ 90.3%€51k€1.44M▲ 2,697%€899k▼ 37.4%

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 41% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €22.06M

98.8%

Fixed assets €254k▼ 13.5%

Current assets €21.81M▼ 35.1%

Equity and liabilities €22.06M

28.5%

71.5%

Equity €6.29M▲ 16.7%

Debt €15.77M▼ 44.7%

The debt ratio falls from 84.1% to 71.5%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€991k▼

2023 · €1.64M

Cash flow

€966k▼

2023 · €1.51M

Solvency

28.5%▲

2023 · 15.9%

Current ratio

1.41▲

2023 · 1.20

Quick ratio

0.82▲

2023 · 0.80

Debt / equity

2.51▼

2023 · 5.29

ROE

14.3%▼

2023 · 26.6%

ROA

4.1%▼

2023 · 4.2%

Interest coverage

109.27▲

2023 · 29.85

Debt

€15.77M▼

2023 · €28.51M

Debt ≤ 1 year

€15.48M▼

2023 · €28.06M

Income taxes

€301k▲

2023 · €279k

Staff costs

€4.69M▲

2023 · €4.46M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€33.90M€22.06M▼

Fixed assets21/28€294k€254k▼

Intangible fixed assets21-€16k

Tangible fixed assets22/27€294k€238k▼

Plant, machinery and equipment23€46k€28k▼

Furniture and vehicles24€21k€16k▼

Other tangible fixed assets26€227k€195k▼

Financial fixed assets28€200€400▲

Other financial fixed assets284/8€200€400▲

Amounts receivable and cash guarantees285/8€200€400▲

Current assets29/58€33.60M€21.81M▼

Stocks and contracts in progress3€11.16M€9.05M▼

Stocks30/36€4.04M€8.20M▲

Goods purchased for resale34€105k€17k▼

Advance payments36€3.93M€8.18M▲

Contracts in progress37€7.12M€843k▼

Amounts receivable within one year40/41€16.13M€12.43M▼

Trade receivables40€6.35M€3.29M▼

Other amounts receivable41€9.77M€9.14M▼

Cash at bank and in hand54/58€6.27M€276k▼

Deferred charges and accrued income490/1€43k€57k▲

Equity and liabilities

Total equity and liabilities10/49€33.90M€22.06M▼

Equity10/15€5.39M€6.29M▲

Contributions10/11€4.22M€4.22M=

Capital10€4.22M€4.22M=

Issued capital100€4.22M€4.22M=

Reserves13€1.17M€2.07M▲

Non-distributable reserves130/1€118k€165k▲

Legal reserve130€118k€165k▲

Distributable reserves133€1.06M€1.91M▲

Amounts payable17/49€28.51M€15.77M▼

Amounts payable within one year42/48€28.06M€15.48M▼

Trade debts44€11.66M€2.60M▼

Suppliers440/4€11.66M€2.60M▼

Advances received on contracts in progress46€15.45M€11.98M▼

Taxes, remuneration and social security45€943k€905k▼

Taxes450/3€426k€159k▼

Remuneration and social security454/9€517k€745k▲

Other amounts payable47/48€1k-

Accrued charges and deferred income492/3€443k€283k▼

Income statement Code20232024

Operating income70/76A€78.08M€36.49M▼

Turnover70€85.82M€42.22M▼

Change in stocks of work in progress, finished goods and contracts in progress71€-8.39M€-6.43M▲

Other operating income74€619k€688k▲

Non-recurring operating income76A€38k€18k▼

Operating charges60/66A€76.52M€35.57M▼

Goods for resale, raw materials and consumables60€69.86M€28.69M▼

Purchases600/8€69.55M€28.60M▼

Change in stocks: decrease (increase)609€302k€88k▼

Services and other goods61€1.92M€2.27M▲

Remuneration, social security and pensions62€4.46M€4.69M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€69k€67k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€146k€-151k▼

Other operating charges640/8€6k€6k▲

Non-recurring operating charges66A€52k-

Operating profit (loss)9901€1.57M€924k▼

Financial income75/76B€216k€305k▲

Recurring financial income75€216k€305k▲

Income from current assets751€216k€305k▲

Other financial income752/9€8€6▼

Financial charges65/66B€68k€28k▼

Recurring financial charges65€68k€28k▼

Debt charges650€55k€9k▼

Other financial charges652/9€13k€19k▲

Profit (loss) for the period before taxes9903€1.72M€1.20M▼

Income taxes67/77€279k€301k▲

Taxes670/3€279k€303k▲

Tax adjustments and reversals of tax provisions77-€1k

Profit (loss) for the period9904€1.44M€899k▼

Profit (loss) for the period to be appropriated9905€1.44M€899k▼

Appropriation of the result

Profit (loss) to be appropriated9906€1.11M€899k▼

Profit (loss) brought forward from the previous period14P€-325k-

Transfer to equity691/2€1.11M€899k▼

To the legal reserve6920€56k€47k▼

To other reserves6921€1.06M€852k▼

Social balance

Average headcount (FTE)908741.740.9▼

The notes to these accounts (56 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Financial 5Filings 10

2025

02-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

07-06

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Highest result since 2018net €1.44M ▲2697%

Operating result €1.57M, net result €1.44M, both a record.

31-12

Financial Equity above €5MEq €5.39M ▲36.3%

2 profitable years in a row build equity to €5.39M.

23-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Back to profitnet €51k

Net result €51k after 3 loss-making years.

31-12

Financial Equity above €2MEq €3.96M ▲1196%

Equity rises from €305k to €3.96M.

28-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

29-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

31-12

Financial Weakest financial yearnet €-790k

Net result drops to €-790k, the lowest in the series; recovery starts the following year.

29-06

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

19-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

25-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

26-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

26-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

23 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, Leuven · 1 establishment unit since 1976

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Ambachtenlaan 143001 Leuven

Ground area

9,035 m²

Building footprint

1,994 m²

Volume, LiDAR

14,202 m³