Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
Financials
Financial year 2025
SETHALYS from Antwerpen, company number BE0835954314, closed financial year 2025 with a result of € -24,208 after tax. For that financial year SETHALYS recorded a gross margin of € 36,591 and equity of € -50,483. Compared with financial year 2024, the result moved from € 16,776 to € -24,208. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 29, 2026.
€ -50,483
▼ € 24,208 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -24,208
▼ still € 16,776 profit in 2024
Profit after tax over the fiscal year.
€ 7,155
▲ 172% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -69,083.
People and assets in 2025
€ 42,038
▼ 7% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 186,868
▲ 2% vs 2024
€ 13,698 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 2,827
▼ 55% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 44,835 | € 54,952 | € 79,910 | € 36,591 | ▼ 54% |
| Profit after taxes | € 10,153 | € 15,674 | € 16,776 | € -24,208 | ▼ € 40,984 |
| Equity | € -58,725 | € -43,052 | € -26,275 | € -50,483 | ▼ € 24,208 |
| Total debts | € 228,487 | € 212,118 | € 192,986 | € 190,370 | ▼ 1% |
| Cash | € 7,419 | € 9,238 | € 2,635 | € 7,155 | ▲ 172% |
| Land & buildings | € 79,734 | € 70,622 | € 61,509 | € 52,397 | ▼ 15% |
| Retained profit | € -77,325 | € -61,652 | € -44,875 | € -69,083 | ▼ € 24,208 |
| Bank debt | € 200,199 | € 189,103 | € 183,697 | € 186,868 | ▲ 2% |
| Balance sheet total | € 169,762 | € 169,066 | € 166,711 | € 139,887 | ▼ 16% |
Key figures of SETHALYS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to SETHALYS?
What happened at SETHALYS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 24,208 (▼ € 40,984 vs 2024). filed late Source: NBB ↗
- Werner Cortoos became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
- Heidi Geeraerts became a director. NBB
In short
From € 10,153 profit in 2022 to € 24,208 loss in 2025.
Best year ever: 2024, with € 16,776 profit.
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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
Behind SETHALYS are Heidi Geeraerts and Werner Cortoos.
Directors
According to the 2025 annual accounts
Heidi Geeraerts
Director
since 2011
Werner Cortoos
Director
since 2014
Establishments
Establishment units
Physical locations of this company
Oosterlinckhoflaan 17
2180 Antwerpen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Website info
Features
Security
Details
- Company number
- 0835.954.314
- VAT number
- BE 0835.954.314
- Registered office
- Oosterlinckhoflaan 17, 2180 Antwerpen
- Names & denominations
- SETHALYS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 14 April 2011
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- tkadooke.be [email protected] 0468118990
- Activities · NACE
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