Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 19 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 34.7 to 2.
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Legal situation KBO
Vrijwillige ontbinding – vereffening according to the CBE.
Financials
Financial year 2025
SALM INVEST from Liège, company number BE0457293137, closed financial year 2025 with a result of € -408,240 after tax. For that financial year SALM INVEST recorded revenue of € 82,006 and equity of € 1.2 million. Compared with financial year 2024, the result moved from € -96,032 to € -408,240. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 1, 2025.
€ 1.2 million
▼ 26% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -408,240
▼ 325 % more loss than in 2024
Profit after tax over the fiscal year.
€ 33,207
▲ 21% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2025
2
▼ 12.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 264,055
▼ 62% vs 2024
€ 132,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 8,727
▼ 23% vs 2024
Of which on lease € 8,727.
Debts at end 2025
€ 2.5 million
▼ 16% vs 2024
€ 532,591 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 69,410
▼ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 51 days on average.
€ 101,914
▼ 24% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2021 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 13,213,891 | € 17,225,455 | € 3,744,803 | € 82,006 | ▼ 98% |
| Profit after taxes | € 159,755 | € -691,037 | € -96,032 | € -408,240 | ▼ € 312,207 |
| Equity | € 1,516,593 | € 790,380 | € 1,668,998 | € 1,236,093 | ▼ 26% |
| Total debts | € 7,038,352 | € 5,085,689 | € 4,657,842 | € 4,753,269 | ▲ 2% |
| Cash | € 131,815 | € 324,190 | € 27,527 | € 33,207 | ▲ 21% |
| Land & buildings | € 2,148,108 | € 1,702,577 | € 1,691,519 | € 1,582,697 | ▼ 6% |
| Retained profit | € 99,965 | € -591,071 | € -687,104 | € -1,095,344 | ▼ € 408,240 |
| Dividend | € 200,634 | € 0 | € 0 | € 0 | |
| Bank debt | € 3,286,906 | € 4,202,673 | € 2,964,188 | € 2,502,286 | ▼ 16% |
| Balance sheet total | € 8,554,945 | € 5,876,069 | € 6,326,840 | € 5,989,362 | ▼ 5% |
| Employees (FTE) | 30.6 | 34.7 | 14.5 | 2 | ▼ 12.5 |
Key figures of SALM INVEST, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
What happened to SALM INVEST?
What happened at SALM INVEST in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
SALM INVEST is active according to the CBE. Legal situation: Vrijwillige ontbinding – vereffening.
- SPARAXIS SA stepped down as director. NBB
- Marc MINET stepped down as director. NBB
- Isabelle GRAYET stepped down as director. NBB
- Fabien HANIN stepped down as director. NBB
- CEDIP SA stepped down as director. NBB
- EUROPE ET CROISSANCE SRL stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 408,240. Source: NBB ↗
- SCOPE MANAGEMENT SRL stepped down as director. NBB
In short
From € 159,755 profit in 2021 to € 408,240 loss in 2025.
Paid € 68,930 in corporate taxes since 2021.
Best year ever: 2021, with € 159,755 profit.
Paid out € 200,634 in dividends to the owners in total.
A new publication or filing at SALM INVEST? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of CEDIP SA, Wallonie Entreprendre, LA COMPAGNIE DU POIRIER comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SALM INVESTThe shares are held by CEDIP SA (54%), Wallonie Entreprendre (20.1%) and LA COMPAGNIE DU POIRIER (6%). It owns 100% of MAISON VENDSYSSEL FRANCE SAS and 100% of DFM SAVEURS itself.
Directors
According to the 2025 annual accounts
since 2021 · until 2027
since 2021 · until 2024
since 2021 · until 2027
Director · represented by Frédéric KALKMANN
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +224 more
since 2023 · until 2029
since 2022 · until 2028
since 2022 · until 2028
EUROPE ET CROISSANCE SRL
Director · represented by David REYNDERS
Also active at: KARRAS, DFM SAVEURS
since 2021 · until 2027
Shareholders
Participations
100%
Establishments
Establishment units
Physical locations of this company
Boulevard de la Sauvenière 117
4000 Liège
Avenue de l'Espérance(F) 36
6220 Fleurus
Active since 15 August 2018
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0457.293.137
- VAT number
- BE 0457.293.137
- Registered office
- Boulevard de la Sauvenière 117, 4000 Liège
- Names & denominations
- SALM INVEST
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Vrijwillige ontbinding – vereffening
- Start date
- 12 February 1996
- Peppol
- Active · Active since 24 Oct 2025
- Activities · NACE
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