SUDE 38
ActiveSummary
SUDE 38 has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €66,133 and a net result of €8,783. Equity is growing by ~16.6% per year across the filed fiscal years. Its solvency ranks better than 65% of 36378 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability61▲+8
Solvency85▼-12
Growth75▲+17
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days only on tighter terms
Liquidity ample (current ratio 5.88 against 2.2 in 2023; short-term debt: 13.3% and cash: 0.5% of total assets), and 40.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk
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 · 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 · 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
59.6%
Return on assets
7.9%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-11-2025, 98 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
98 d late
2023
210 d late
2022
81 d late
2021
40 d late
2020
466 d late
2019
224 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 187 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
Turnover
€365,595▼ 17.2%
2022 · €441,645
EBIT margin
3.3%▼ 2.8pp
2022 · 6.1%
Net result
€8,783▲ 28.7%
2023 · €6,822
Working capital
€72,027▲ 165%
2023 · €27,171
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€327,301▲ 34.7%€271,239▼ 17.1%€441,645▲ 62.8%€365,595▼ 17.2%
Operating result€8,950▼ 27.5%€14,204▲ 58.7%€27,066▲ 90.5%€12,165▼ 55.1%€12,779▲ 5.0%
Net result€7,732within the sector's middle half▲ 10.2%€12,537within the sector's middle half▲ 62.1%€4,640within the sector's middle half▼ 63.0%€6,822within the sector's middle half▲ 47.0%€8,783within the sector's middle half▲ 28.7%
EBIT margin2.7%▼ 2.3pp5.2%▲ 2.5pp6.1%▲ 0.9pp3.3%▼ 2.8pp
Equity€33,350within the sector's middle half▲ 30.2%€45,887within the sector's middle half▲ 37.6%€50,527within the sector's middle half▲ 10.1%€57,349within the sector's middle half▲ 13.5%€66,133within the sector's middle half▲ 15.3%
Total assets€58,662below the sector's middle half▲ 51.1%€61,809below the sector's middle half▲ 5.4%€83,925within the sector's middle half▲ 35.8%€80,082within the sector's middle half▼ 4.6%€110,899within the sector's middle half▲ 38.5%
Debt€25,312▲ 91.7%€15,922▼ 37.1%€33,398▲ 110%€22,733▼ 31.9%€44,766▲ 96.9%
Working capital€27,348within the sector's middle half▲ 20.4%€39,997within the sector's middle half▲ 46.3%€18,106within the sector's middle half▼ 54.7%€27,171within the sector's middle half▲ 50.1%€72,027within the sector's middle half▲ 165%
Solvency56.9%within the sector's middle half▼ 9.1pp74.2%above the sector's middle half▲ 17.4pp60.2%within the sector's middle half▼ 14.0pp71.6%above the sector's middle half▲ 11.4pp59.6%within the sector's middle half▼ 12.0pp
Current ratio2.08within the sector's middle half▼ 0.643.51above the sector's middle half▲ 1.431.54within the sector's middle half▼ 1.972.20within the sector's middle half▲ 0.655.88above the sector's middle half▲ 3.68
Return on assets (ROA)13.2%within the sector's middle half▼ 4.9pp20.3%above the sector's middle half▲ 7.1pp5.5%within the sector's middle half▼ 14.8pp8.5%within the sector's middle half▲ 3.0pp7.9%within the sector's middle half▼ 0.6pp
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 recovers in 2024; 2024 is 5% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €110,899
Fixed assets
€24,106 ▼ 20.1%
Current assets
€86,793 ▲ 73.9%
Equity and liabilities €110,899
Equity
€66,133 ▲ 15.3%
Debt
€44,766 ▲ 96.9%
Debt's share of the balance-sheet total rises from 28.4% to 40.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18,852▼
2023 · €19,285
Cash flow
€14,855▲
2023 · €13,942
Debt to equity
0.68▲
2023 · 0.40
ROE
13.3%▲
2023 · 11.9%
Interest coverage
3.84▲
2023 · 3.61
Debt ≤ 1 year
€14,766▼
2023 · €22,733
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,340 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% 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 26,975 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €327,301 | €271,239 | €441,645 | €365,595 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €314,393 | €252,707 | €406,713 | €346,073 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,207 | €3,255 | €6,248 | €7,120 | €6,072 | ▼ 14.7% |
| Other operating charges640/8 | €1,750 | €1,072 | €1,617 | €237 | - | - |
| Gross operating margin9900 | €12,908 | €18,532 | €34,932 | €19,522 | €18,852 | ▼ 3.4% |
| Operating profit (loss)9901 | €8,950 | €14,204 | €27,066 | €12,165 | €12,779 | ▲ 5.0% |
| Financial income75/76B | €23 | €12 | €1,136 | - | €919 | - |
| Recurring financial income75 | €23 | €12 | €1,136 | - | €919 | - |
| Financial charges65/66B | €1,240 | €489 | €5,510 | €5,343 | €4,915 | ▼ 8.0% |
| Recurring financial charges65 | €1,240 | €489 | €5,510 | €5,343 | €4,915 | ▼ 8.0% |
| Profit (loss) for the period before taxes9903 | €7,732 | €13,728 | €22,692 | €6,822 | €8,783 | ▲ 28.7% |
| Income taxes67/77 | - | €1,190 | €18,052 | - | - | - |
| Profit (loss) for the period9904 | €7,732 | €12,537 | €4,640 | €6,822 | €8,783 | ▲ 28.7% |
| Profit (loss) for the period to be appropriated9905 | €7,732 | €12,537 | €4,640 | €6,822 | €8,783 | ▲ 28.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58,662 | €61,809 | €83,925 | €80,082 | €110,899 | ▲ 38.5% |
| Fixed assets21/28 | €6,002 | €5,890 | €32,421 | €30,178 | €24,106 | ▼ 20.1% |
| Tangible fixed assets22/27 | €2,962 | €2,850 | €29,381 | €27,138 | €21,066 | ▼ 22.4% |
| Plant, machinery and equipment23 | €2,792 | €2,765 | €4,181 | €2,286 | €1,440 | ▼ 37.0% |
| Furniture and vehicles24 | €170 | €85 | - | €3,251 | €1,626 | ▼ 50.0% |
| Other tangible fixed assets26 | - | - | €25,200 | €21,600 | €18,000 | ▼ 16.7% |
| Financial fixed assets28 | €3,040 | €3,040 | €3,040 | €3,040 | €3,040 | = |
| Current assets29/58 | €52,660 | €55,919 | €51,505 | €49,904 | €86,793 | ▲ 73.9% |
| Amounts receivable within one year40/41 | €51,006 | €49,364 | €46,315 | €45,809 | €86,227 | ▲ 88.2% |
| Trade receivables40 | €34,023 | €17,587 | €21,069 | €27,295 | €68,653 | ▲ 152% |
| Other amounts receivable41 | €16,983 | €31,776 | €25,247 | €18,514 | €17,574 | ▼ 5.1% |
| Current investments50/53 | - | €6,555 | - | - | - | - |
| Cash at bank and in hand54/58 | €1,654 | - | €5,189 | €4,096 | €566 | ▼ 86.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58,662 | €61,809 | €83,925 | €80,082 | €110,899 | ▲ 38.5% |
| Equity10/15 | €33,350 | €45,887 | €50,527 | €57,349 | €66,133 | ▲ 15.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | - | - | - | - |
| Issued capital100 | - | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €12,890 | €25,427 | €30,067 | €36,889 | €45,673 | ▲ 23.8% |
| Amounts payable17/49 | €25,312 | €15,922 | €33,398 | €22,733 | €44,766 | ▲ 96.9% |
| Amounts payable within one year42/48 | €25,312 | €15,922 | €33,398 | €22,733 | €14,766 | ▼ 35.0% |
| Trade debts44 | €19,865 | €12,569 | €19,309 | €15,758 | €6,325 | ▼ 59.9% |
| Suppliers440/4 | €19,865 | €12,569 | €19,309 | €15,758 | €6,325 | ▼ 59.9% |
| Taxes, remuneration and social security45 | €5,447 | €3,353 | €14,089 | €6,975 | €8,441 | ▲ 21.0% |
| Taxes450/3 | €5,447 | €3,353 | €14,089 | €6,975 | €8,441 | ▲ 21.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €30,000 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,732 | €12,537 | €4,640 | €6,822 | €8,783 | ▲ 28.7% |
| + Depreciation and write-downs630 | €2,207 | €3,255 | €6,248 | €7,120 | €6,072 | ▼ 14.7% |
| Operating cash flow (approximation) | €9,939 | €15,792 | €10,888 | €13,942 | €14,855 | ▲ 6.5% |
| Investment in fixed assets (approximation) | - | -€3,143 | -€32,779 | -€4,877 | €0 | ▲ 100% |
| Change in cash | - | - | - | -€1,094 | -€3,529 | ▼ 223% |
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
06-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 98 days late
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 210 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 5.88
Current ratio from 2.20 to 5.88; short-term debt falls from €22,733 to €14,766.
2023
20-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 81 days late
2022
31-12
Financial
Weakest financial yearnet €4,640 ▼63%
Net result drops to €4,640, the lowest in the series; recovery starts the following year.
09-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 466 days late
09-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 40 days late
2021
31-12
Financial
Highest result since 2019net €12,537 ▲62.1%
Net result €12,537, the highest in the series.
12-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 224 days late
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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 2019
Ground area
1,225 m²
Building footprint
675 m²
Volume, LiDAR
4,115 m³
Parcel 71323C0454/00L000, Flanders · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
SUDE 38
since 20192.287.162.208
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71323C0454/00L000 | Flanders | 1,225 m² | 1 · 675 m² | 10.9 m · 2 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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Of 3,959 companies in this sector we hold annual accounts for 1,788. 1,556 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded13-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
E-invoicing
Reachable via Peppol
Peppol ID
0208:0704583650
Also
9925:BE0704583650
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.