SI² FUND
ActiveSI² FUND has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.96M and a net result of €-1.34M. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 95% of 8578 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
62
/ 100
Healthy▼ -21 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-44
Solvency100=
Growth68▼-17
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 9.2 against 4.96 in 2024), and 1.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
98.8%
Return on assets
-33.5%
Age of the figures
8 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-05-2026, 73 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
73 d early
2024
70 d early
2023
51 d early
2022
62 d early
2021
20 d early
2020
64 d early
2019
63 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€10k▼ 46.5%
2020 · €19k
2018: €450
2019: €70k
2020: €19k
2018 → 2025
EBIT margin
-2363.9%▲ 789.3pp
2020 · -3153.2%
2018: -115672.1%
2019: -820.2%
2020: -3153.2%
2018 → 2025
Net result
€-1.34M
2024 · €463k
2018: €-896k
2019: €-625k
2020: €-478k
2021: €-431k
2022: €-379k
2023: €-585k
2024: €463k
2018 → 2025
Working capital
€399k▲ 48.8%
2024 · €268k
2018: €1.35M
2019: €1.01M
2020: €1.06M
2021: €728k
2022: €561k
2023: €497k
2024: €268k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€10k
Equity€6.05M-€6.25M▲ 3.3%€6.00M▼ 4.0%€5.30M▼ 11.6%€3.96M▼ 25.3%
Operating result€-408k-€-247k▲ 39.5%€-252k▼ 2.2%€-289k▼ 14.7%€-243k▲ 16.0%
Net result€-431k-€-379k▲ 11.9%€-585k▼ 54.1%€463k€-1.34M
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €243k in 2025 against €289k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.01M
Fixed assets
€3.56M▼ 29.3%
Current assets
€447k▲ 33.3%
Equity and liabilities €4.01M
Equity
€3.96M▼ 25.3%
Debt
€49k▼ 28.1%
The debt ratio stays at 1.2%.
Key figures and ratios
Solvency
98.8%=
2024 · 98.7%
Current ratio
9.20▲
2024 · 4.96
Quick ratio
9.20▲
2024 · 4.96
Debt / equity
0.01▼
2024 · 0.01
ROE
-33.9%▼
2024 · 8.7%
ROA
-33.5%▼
2024 · 8.6%
Debt
€49k▼
2024 · €68k
Debt ≤ 1 year
€49k▼
2024 · €68k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.37M€4.01M▼
Fixed assets21/28€5.04M€3.56M▼
Financial fixed assets28€5.04M€3.56M▼
Current assets29/58€335k€447k▲
Amounts receivable after more than one year29-€250k
Other amounts receivable291-€250k
Amounts receivable within one year40/41€17k€176k▲
Trade receivables40€15k€28k▲
Other amounts receivable41€2k€148k▲
Cash at bank and in hand54/58€318k€21k▼
Equity and liabilities
Total equity and liabilities10/49€5.37M€4.01M▼
Equity10/15€5.30M€3.96M▼
Contributions10/11€14.96M€14.96M=
Profit (loss) carried forward14€-9.65M€-10.99M▼
Amounts payable17/49€68k€49k▼
Amounts payable within one year42/48€68k€49k▼
Trade debts44€41k€49k▲
Suppliers440/4€41k€49k▲
Taxes, remuneration and social security45€2k€0▼
Taxes450/3€2k€0▼
Other amounts payable47/48€24k€0▼
Income statement
Code20242025
Turnover70-€10k
Goods, raw materials, services and sundry goods60/61-€240k
Other operating charges640/8€31k€14k▼
Gross operating margin9900€-259k€-230k▲
Operating profit (loss)9901€-289k€-243k▲
Financial income75/76B€1.25M€217k▼
Recurring financial income75€26k€18k▼
Non-recurring financial income76B€1.22M€198k▼
Financial charges65/66B€497k€1.32M▲
Recurring financial charges65€18k€14k▼
Non-recurring financial charges66B€479k€1.30M▲
Profit (loss) for the period before taxes9903€463k€-1.34M▼
Profit (loss) for the period9904€463k€-1.34M▼
Profit (loss) for the period to be appropriated9905€463k€-1.34M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-9.65M€-10.99M▼
Profit (loss) brought forward from the previous period14P€-10.12M€-9.65M▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
19-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
10-03
State Gazette act
Resignations & appointmentsBoard meeting · Director resignation · Permanent representative3 facts ▸
State Gazette act
Resignations & appointments
Board meeting · Director resignation · Permanent representative3 facts ▸
- Board meeting, 2026-01-27
- Director resignation, Pieter Marinus Oostlander (vaste vertegenwoordiger)
- Permanent representative, George Alexander David Dirks (vaste vertegenwoordiger)
05-02
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor reappointment · Power of attorney5 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor reappointment · Power of attorney5 facts ▸
- General meeting, 2025-05-08
- Auditor reappointment, 3 jaar, Bert Kegels
- Power of attorney, Shaping Impact Group NV
- Power of attorney, Yvette Verleisdonk
- Power of attorney, Bestuurders van SI² FUND
2025
31-12
Financial
Weakest financial yearnet €-1.34M ▼390%
Net result drops to €-1.34M, the lowest in the series.
28-07
State Gazette act
Resignations & appointmentsManagement decision · General meeting · Director resignation3 facts ▸
State Gazette act
Resignations & appointments
Management decision · General meeting · Director resignation3 facts ▸
- Management decision, 2025-06-05
- General meeting, 2024-05-13
- Director resignation, Marc Flammang (onafhankelijk bestuurder)
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
10-01
State Gazette act
Statutes amendment · Resignations & appointmentsGeneral meeting · Statutes amendment · Director appointment8 facts ▸
State Gazette act
Statutes amendment · Resignations & appointments
General meeting · Statutes amendment · Director appointment8 facts ▸
- General meeting, 2024-12-04
- Statutes amendment
- Director appointment, COLRUYT Piet André Maria (A-bestuurder)
- Director appointment, SERNEELS Steven Maria (A-bestuurder)
- Director appointment, BRENNINKMEIJER Egmond Thaddeurs (B-bestuurder)
- Mandate compensation, COLRUYT Piet André Maria
- Mandate compensation, SERNEELS Steven Maria
- Mandate compensation, BRENNINKMEIJER Egmond Thaddeurs
2024
31-12
Financial
Back to profitnet €463k
Net result €463k after 6 loss-making years.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
09-12
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor reappointment2 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor reappointment2 facts ▸
- General meeting, 2022-05-19
- Auditor reappointment, commissaris, boekjaar dat een aanvang nam op 1 januari 2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €5MEq €5.88M ▲24.4%
Equity rises from €4.73M to €5.88M.
23-06
State Gazette act
Resignations & appointmentsBoard meeting · Permanent representative2 facts ▸
State Gazette act
Resignations & appointments
Board meeting · Permanent representative2 facts ▸
- Board meeting, 2020-06-04
- Permanent representative, Pieter M. Oostlander
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
18-05
State Gazette act
Statutes amendment · Legal-form changeGeneral meeting · Legal-form conversion · Statutes amendment13 facts ▸
State Gazette act
Statutes amendment · Legal-form change
General meeting · Legal-form conversion · Statutes amendment13 facts ▸
- General meeting, 2020-04-23
- Legal-form conversion, Coöperatieve vennootschap met beperkte aansprakelijkheid -> Besloten vennootschap
- Statutes amendment
- Statutes amendment
- Statutes amendment
- Statutes amendment
- Corporate purpose, Het bij wijze van inschrijving, inbreng, samenwerking, financiële tussenkomst of anderszins verwerven van een belang of deelneming in alle bestaande of nog op t…
- Capital
- Duration, 31 december 2024, verlengbaar tot tweemaal toe met een periode van twee jaar door beslissing van de algemene vergadering
- Transition provision, De eerstvolgende gewone algemene vergadering die zal beraadslagen over de jaarrekening afgesloten per 31 december 2020, zal gehouden worden op 13 mei 2021 om 17…
- Share class, A-aandelen: houders met ≥ EUR 1.000.000 aan inbrengen; B-aandelen: houders met < EUR 1.000.000 aan inbrengen
- Board composition, Minimum 3, maximum 9 bestuurders; A-aandeelhouders: max 5 A-bestuurders; B-aandeelhouders: max 2 B-bestuurders; max 2 onafhankelijke bestuurders
- +1 further facts in this act
2019
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
21-05
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Auditor reappointment4 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Auditor reappointment4 facts ▸
- General meeting, 2019-04-18
- Director reappointment, Marc Flammang (onafhankelijk bestuurder)
- Auditor reappointment, commissaris, 3 years
- Permanent representative, Bert Kegels
2018
20-06
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Power of attorney8 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Power of attorney8 facts ▸
- General meeting, 2018-04-19
- Director reappointment, Pieter Colruyt (A-bestuurder)
- Director reappointment, Steven Serneels (A-bestuurder)
- Director reappointment, Egmond Brenninkmeijer (B-bestuurder)
- Power of attorney, Shaerpa Fund Management NV
- Power of attorney, Yvette Verleisdonk
- Power of attorney, Toon Jacobs
- Power of attorney, Fréderique Sternotte
02-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
29-01
State Gazette act
Registered office · Resignations & appointmentsBoard meeting · Registered-office move2 facts ▸
State Gazette act
Registered office · Resignations & appointments
Board meeting · Registered-office move2 facts ▸
- Board meeting, 06/12/2017
- Registered-office move, Jozef II-straat 20, 1000 Brussel
2017
17-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
21-12
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director reappointment16 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director reappointment16 facts ▸
- General meeting, 2015-12-12
- Director resignation, Arnoud de Pret Roose de Calesberg (bestuurder)
- Director reappointment, Piet Colruyt (A-bestuurder)
- Director reappointment, Marijke Colruyt (A-bestuurder)
- Director reappointment, Steven Serneels (A-bestuurder)
- Director reappointment, Egmond Brenninkmeijer (B-bestuurder)
- Mandate compensation, Piet Colruyt
- Mandate compensation, Marijke Colruyt
- Mandate compensation, Steven Serneels
- Mandate compensation, Egmond Brenninkmeijer
- Board composition, A-bestuurder, 2015-12-12
- Board composition, A-bestuurder, 2015-12-12
- +4 further facts in this act
26-05
State Gazette act
Resignations & appointmentsGeneral meeting · Director appointment · Mandate compensation6 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director appointment · Mandate compensation6 facts ▸
- General meeting, 2016-04-21
- Director appointment, Marc Flammang (onafhankelijk bestuurder)
- Mandate compensation, Marc Flammang
- Auditor appointment, BDO Bedrijfsrevisoren
- Permanent representative, Bert Kegels
- Power of attorney, NautaDutilh
10-05
State Gazette act
Statutes amendmentGeneral meeting · Statutes amendment2 facts ▸
State Gazette act
Statutes amendment
General meeting · Statutes amendment2 facts ▸
- General meeting, 2016-04-21
- Statutes amendment
16-03
State Gazette act
Registered officeBoard meeting · Registered-office move2 facts ▸
State Gazette act
Registered office
Board meeting · Registered-office move2 facts ▸
- Board meeting, 2015-06-17
- Registered-office move, Hertogsstraat 39 te 1000 Brussel
2015
11-12
State Gazette act
Statutes amendmentStatutes amendment1 fact ▸
State Gazette act
Statutes amendment
Statutes amendment1 fact ▸
- Statutes amendment
23-06
State Gazette act
Resignations & appointmentsGeneral meeting · Director appointment · Board composition14 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director appointment · Board composition14 facts ▸
- General meeting, 2015-05-06
- Director appointment, Egmond Brenninkmeijer (bestuurder)
- Director appointment, Arnoud de Pret Roose de Calesberg (bestuurder)
- Board composition, A-bestuurder, 2015-05-06
- Board composition, A-bestuurder, 2015-05-06
- Board composition, A-bestuurder, 2015-05-06
- Board composition, A-bestuurder, 2015-05-06
- Board composition, B-bestuurder, 2015-05-06
- Mandate compensation, Egmond Brenninkmeijer
- Mandate compensation, Arnoud de Pret Roose de Calesberg
- Board meeting, 2015-05-06
- Power of attorney, Shaerpa Fund Management NV
- +2 further facts in this act
01-06
State Gazette act
Statutes amendment · Resignations & appointmentsGeneral meeting · Statutes amendment · Corporate purpose22 facts ▸
State Gazette act
Statutes amendment · Resignations & appointments
General meeting · Statutes amendment · Corporate purpose22 facts ▸
- General meeting, 2015-05-06
- Statutes amendment
- Corporate purpose, Verwerven van een belang in sociale ondernemingen, financieren, beheren, valoriseren en te gelde maken van deze belangen, investeren in aandelen, effecten en on…
- Capital
- Director resignation, Piet Colruyt (bestuurder)
- Director resignation, i-Propeller (bestuurder)
- Director resignation, Steven Serneels (bestuurder)
- Director resignation, Elinor de Pret (bestuurder)
- Director resignation, Sam Desimpel (bestuurder)
- Director resignation, Marijke Colruyt (bestuurder)
- Director resignation, Michaël Bremans (bestuurder)
- Director resignation, AS Partners (bestuurder)
- +10 further facts in this act
04-03
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Director discharge14 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Director discharge14 facts ▸
- General meeting, 2014-06-19
- General meeting, 2012-10-18
- Director resignation, Johan Moyersoen (A-bestuurder)
- Director discharge, Johan Moyersoen
- Director appointment, i-propeller NV (bestuurder)
- Permanent representative, Johan Moyersoen
- General meeting, 2013-03-14
- Director appointment, Michaël Bremans (onafhankelijk bestuurder)
- General meeting, 2013-09-12
- Director appointment, Steven Serneels (bestuurder)
- Director appointment, Elinor De Pret (bestuurder)
- Director appointment, Sam De Sempel (bestuurder)
- +2 further facts in this act
2012
17-08
State Gazette act
IncorporationIncorporation · Founding capital · Corporate purpose20 facts ▸
State Gazette act
Incorporation
Incorporation · Founding capital · Corporate purpose20 facts ▸
- Incorporation, 2012-07-20
- Founding capital, €2.300.000
- Corporate purpose, het bij wijze van inschrijving, inbreng, samenwerking, financiële tussenkomst of anderszins verwerven van een belang of deelneming in alle bestaande of nog op t…
- Share issue, A-aandelen, 150
- Share issue, B-aandelen, 2100
- Share issue, C-aandelen, 50
- Bank account, Triodos Bank, BE53 5230 4418 1353
- Director appointment, Johan Moyersoen (A-bestuurder)
- Director appointment, Piet Colruyt (B-bestuurder)
- Director appointment, AS PARTNERS (C-bestuurder)
- Permanent representative, Stefan Yee
- Mandate compensation, Johan Moyersoen
- +8 further facts in this act
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 directors, no change since 2024
Marc Flammang
Not recently confirmedOnafhankelijk bestuurder · since 21-04-2016
Egmond Brenninkmeijer
Not recently confirmedB bestuurder · since 06-05-2015
Pieter Colruyt
Not recently confirmedA bestuurder · since 19-04-2018
Steven Serneels
Not recently confirmedA bestuurder · since 19-04-2018
27-01-2026
Pieter Marinus Oostlander: Resigned as Vaste vertegenwoordiger
13-05-2024
Marc Flammang: Resigned as Director
19-04-2018
Egmond Brenninkmeijer: Mandate renewed as B bestuurder
19-04-2018
Pieter Colruyt: Mandate renewed as A bestuurder
19-04-2018
Steven Serneels: Mandate renewed as A bestuurder
06-11-2016
Arnoud de Pret Roose de Calesberg: Resigned as Director
21-04-2016
Marc Flammang: Appointed as Onafhankelijk bestuurder
06-05-2015
Egmond Brenninkmeijer: Appointed as Director
06-05-2015
Steven Serneels: Resigned as Director
06-05-2015
Arnoud de Pret Roose de Calesberg: Appointed as Director
06-05-2015
AS Partners: Resigned as Director
06-05-2015
Elinor de Pret: Resigned as Director
06-05-2015
Marijke Colruyt: Resigned as Director
06-05-2015
Michaël Bremans: Resigned as Director
06-05-2015
Piet Colruyt: Resigned as Director
06-05-2015
Sam Desimpel: Resigned as Director
04-03-2015
Johan Moyersoen: Resigned as Director
20-07-2012
AS Partners: Appointed as C bestuurder
20-07-2012
Piet Colruyt: Appointed as Chair
20-07-2012
Piet Colruyt: Appointed as B bestuurder
20-07-2012
Johan Moyersoen: Appointed as A bestuurder
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2012
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.
Jozef II straat 201000 BrusselGround area
425 m²
Building footprint
162 m²
Volume, LiDAR
2,530 m³
Parcel 21805E0056/00A000, Brussels · tallest building 22.6 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
SI² FUND
since 20122.215.890.170
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0056/00A000 | Brussels | 425 m² | 1 · 162 m² | 22.6 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Statutory auditor
4 auditors| BDO BVCurrent Auditor · represented by Bert Kegels | 08-05-2025 → present |
Show 3 earlier auditors
| BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES Statutory auditor · represented by Bert Kegels succeeded by CVBA BDO in 2022 | 21-04-2016 → 01-01-2022 |
| CVBA BDO Statutory auditor succeeded by BDO BV in 2025 | 01-01-2022 → 08-05-2025 |
| VMB Bedrijfsrevisoren Auditor succeeded by BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES in 2016 | 07-08-2012 → 21-04-2016 |
Structure & network
Connections & network
14 connected companiesNetwork connections
Shared director
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Show 10 more network connections
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Shared director
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Shared director
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Shared director
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Shared director
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Shared director
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Shared corporate director
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Shared corporate director
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Shared address
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Shared address
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Capital and shareholders
Capital increase
From the act
“het registreren van de uitgifte van de nieuwe aandelen en de inschrijving daarop door de vennoten in het kader van de kapitaalverhoging zoals hierboven uiteengezet”
Founding capital 2,300,000 EUR · 2,300 shares
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Of 82,218 companies in sector 70200 we hold annual accounts for 52,395. 13,179 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-08-2012
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.