SWB DEVELOPMENT
ActiveSummary
The computed 12-month bankruptcy probability of SWB DEVELOPMENT is 3.3% (moderate). The 2025 annual accounts show negative equity (-€144,917) and a net result of -€58,939. Equity has been shrinking by about 101% per year since 2022. Its solvency ranks better than 8% of 17,149 sector peers (NACE 68, financial year 2025). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 20-04-2022 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 23-04-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 3.3%
- Gross margin
- -€6,699
- ▲ 20.2%
- Loss
- €58,939
- ▲ 3.8%
- Equity
- -€144,917
- ▼ 68.6%
- Total assets
- €393,018
- ▼ 50.4%
- Negative equity on 31-12-2025
- 2025 accounts filed 76 days after the deadline
Score breakdownraises riskLast filed accounts filed 76 days late; 2 of the last 3 accounts lateNo registered site in the KBOlowers riskSector: Real estate activities (NACE 68)Founded in 2022Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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, micro). It does better than 5% of them on solvency, 52% on liquidity, 9% on profitability and 9% on growth.
The bankruptcy probability was computed on 02-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 76 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 76 days after the deadline Filed on 15 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00561555.
Annual accounts 2025 filed on 15-10-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is a loss of €58,608, larger than the loss of €56,611 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €19,663 | €283,046 | €41,779 | - |
| Depreciation and write-downs of the year | €1,831 | €44,060 | €46,091 | €46,091 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,831 | €44,060 | €46,091 | €46,091 | = |
| Other operating charges640/8 | - | €7,327 | €2,124 | €5,818 | ▲ 174% |
| Gross operating margin9900 | -€18,867 | -€3,135 | -€8,397 | -€6,699 | ▲ 20.2% |
| Operating profit (loss)9901 | -€20,698 | -€54,522 | -€56,611 | -€58,608 | ▼ 3.5% |
| Financial income75/76B | - | €178 | €612 | €704 | ▲ 15.0% |
| Recurring financial income75 | - | €178 | €612 | €704 | ▲ 15.0% |
| Financial charges65/66B | €229 | €3,251 | €188 | €750 | ▲ 298% |
| Recurring financial charges65 | €229 | €423 | €188 | €750 | ▲ 298% |
| Non-recurring financial charges66B | - | €2,828 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€20,927 | -€57,595 | -€56,187 | -€58,655 | ▼ 4.4% |
| Income taxes67/77 | - | €654 | €615 | €284 | ▼ 53.8% |
| Profit (loss) for the period9904 | -€20,927 | -€58,249 | -€56,802 | -€58,939 | ▼ 3.8% |
| Profit (loss) for the period to be appropriated9905 | -€20,927 | -€58,249 | -€56,802 | -€58,939 | ▼ 3.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €363,085 | €850,861 | €792,987 | €393,018 | ▼ 50.4% |
| Fixed assets21/28 | €19,663 | €258,648 | €254,336 | €208,246 | ▼ 18.1% |
| Tangible fixed assets22/27 | €19,663 | €258,648 | €254,336 | €208,246 | ▼ 18.1% |
| Plant, machinery and equipment23 | - | €83,306 | €74,152 | €64,997 | ▼ 12.3% |
| Furniture and vehicles24 | - | €148,858 | €111,922 | €74,986 | ▼ 33.0% |
| Assets under construction and advance payments27 | €19,663 | €26,484 | €68,263 | €68,263 | = |
| Current assets29/58 | €343,422 | €592,213 | €538,650 | €184,772 | ▼ 65.7% |
| Amounts receivable within one year40/41 | €37,379 | €113,729 | €161,759 | €183,910 | ▲ 13.7% |
| Trade receivables40 | €33,815 | €32,046 | €7,018 | - | - |
| Other amounts receivable41 | €3,564 | €81,683 | €154,741 | €183,910 | ▲ 18.9% |
| Cash at bank and in hand54/58 | €306,044 | €478,484 | €376,891 | €862 | ▼ 99.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €363,085 | €850,861 | €792,987 | €393,018 | ▼ 50.4% |
| Equity10/15 | €29,073 | -€29,176 | -€85,979 | -€144,917 | ▼ 68.6% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | -€20,927 | -€79,176 | -€135,979 | -€194,917 | ▼ 43.3% |
| Amounts payable17/49 | €334,012 | €880,038 | €878,965 | €537,935 | ▼ 38.8% |
| Amounts payable after more than one year17 | €300,000 | €875,800 | €875,800 | €535,800 | ▼ 38.8% |
| Financial debts170/4 | €300,000 | €875,800 | €875,800 | €535,800 | ▼ 38.8% |
| Amounts payable within one year42/48 | €34,012 | €4,238 | €3,165 | €2,135 | ▼ 32.5% |
| Trade debts44 | €34,012 | €3,583 | €1,896 | €1,105 | ▼ 41.7% |
| Suppliers440/4 | €34,012 | €3,583 | €1,896 | €1,105 | ▼ 41.7% |
| Taxes, remuneration and social security45 | - | €654 | €1,269 | €1,030 | ▼ 18.8% |
| Taxes450/3 | - | €654 | €1,269 | €1,030 | ▼ 18.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,927 | -€58,249 | -€56,802 | -€58,939 | ▼ 3.8% |
| + Depreciation and write-downs630 | €1,831 | €44,060 | €46,091 | €46,091 | = |
| Operating cash flow (approximation) | -€19,096 | -€14,189 | -€10,712 | -€12,848 | ▼ 19.9% |
| Investment in fixed assets (approximation) | - | -€283,046 | -€41,779 | €0 | - |
| Change in cash | - | €172,441 | -€101,593 | -€376,029 | ▼ 270% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as SWB DEVELOPMENT has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SWB DEVELOPMENT itself: 3.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,639 companies, not a prediction for SWB DEVELOPMENT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Capital transactions
- 22-04-2022 Incorporation · €50,000 · 1,000 shares
Network & group
SWB DEVELOPMENT shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of SWB DEVELOPMENT. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
22-04
Gazette deed
IncorporationStarting capital €50,000 · Appointment: BOSTANI Saeed (director) · Board rule4 points ▸
- Incorporation, 13-04-2022
- Founding capital, €50,000
- Board rule, 1, “assemblée” (deed in French)
- Director appointment, BOSTANI Saeed (director (not named in the articles))
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
18 activities
- La société a pour objet,tant en Belgique,qu'à l'étranger,pour compte propre,ou pour compte de tiers,ou en participation avec ceux-ci,la gestion d'un patrimoine mobilier et immobilier.
- Dans ce cadre la société pourra faire toutes opérations civiles d'achat,de vente,de transformation,d'aménagement,de conclusion de baux commerciaux et/ou civils,de sous-location,d'échange et de vente de tous immeubles en ce compris l'entreprise d'achat d'immeubles en vue de la revente.
- Les opérations précitées s'entendent au sens large et comprennent notamment l'accomplissement de toutes opérations relatives à l'acquisition,la cession et la constitution de droits réels sur des biens immeubles bâtis ou non bâtis.
- La société pourra également contracter ou consentir tout prêt généralement quelconque mais aussi hypothéquer ses immeubles et se porter caution pour tous prêts,ouvertures de crédit ou autres obligations,aussi bien pour elle-même que pour des tiers.
- La société pourra également faire au moyen de fonds propres et de fonds empruntés toutes opérations immobilières au sens le plus large du terme,et notamment assurer la gestion de tous biens immobiliers,intervenir en matière de conseils en réalisation immobilière,assurer ou coordonner la réalisation des projets immobiliers,la coordination de sécurité sur chantier,acheter et vendre tout droit,obligation et titre immobilier,ériger des immeubles,les aménager,les décorer,les prendre ou les donner en location,prendre ou donner des droits d'emphytéose ou de superficie,faire tous travaux en vue de rendre des immeubles rentables,lotir des terrains,créer la voirie nécessaire,conclure tous contrats de leasing,et cætera.
- La société a également pour objet,tant en Belgique qu'à l'étranger,la prestation de services administratifs au sens le plus large,et notamment,de secrétariat et gestion,de donner des avis et d'effectuer des études et audits dans les domaines juridique,financier,administratif et fiscal,ainsi que l'assistance technique,administrative,juridique,financière et économique.
- La société aura également pour objet la location ou le leasing de produits,articles,matériaux,outillages,machine de construction et tous les produits de construction,d'électricité,sanitaire,chauffage,et de bricolage.
- L'importation,l'exportation,la conception,la fabrication,l'installation,la commercialisation de châssis,de meuble,mobiliers et tous articles en bois,pvc,aluminium.
- La société pourra procéder à l'exécution de missions d'audit particulières ainsi que l'assistance à l'occasion de négociations et représentations commerciales en Belgique et à l'étranger,elle pourra fournir le conseil,l'organisation,la coordination,l'intervention dans toutes les matières touchant la vie des entreprises même internationales dans le sens le plus large,relatif notamment à leur gestion,leur marketing et leur développement,les relations que ces entreprises ont avec toutes les autorités nationales et supranationales,et notamment le développement et la conception d'application informatique pour ces entreprises.
- La société a également pour objet,tant en Belgique qu'à l'étranger,pour compte propre,pour compte de tiers ou en participation avec des tiers:la prise de participations dans toutes entreprises industrielles,commerciales ou civiles,ainsi que la gestion du portefeuille ainsi constitué,cette gestion devant s'entendre dans son sens le plus large.
- Faire l'acquisition par souscription ou achat d'actions,d'obligations,de bons de caisse et d'autre valeurs mobilières généralement quelconques,de sociétés existantes ou à constituer,ainsi que la gestion de ces valeurs.
- Contribuer à la constitution,au développement et à la gestion de sociétés par voie d'apports,de participation ou d'investissements généralement quelconques ou en acceptant des mandats d'administrateurs.
- Créer des filiales soit par scissions soit par prises de participations.
- Agir en qualité d'intermédiaire à l'occasion de négociations tenues en vue de reprise de sociétés ou de prise de participation.
- Assurer à toutes sociétés une assistance technique administrative ou financière,se porter caution pour elles.
- La société peut exercer un mandat de gérant ou d'administrateur dans d'autres sociétés.
- Elle peut se porter caution et constituer hypothèque ou toute autre sûreté réelle.
- Elle peut accomplir toutes opérations généralement quelconques,commerciales,industrielles,financières,mobilières ou immobilières,se rapportant directement ou indirectement à son objet.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62109B0166/00C002 | Wallonia | 2,909 m² | - | - |