Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
S2CM from Aubel, company number BE0880843637, closed financial year 2025 with a result of € -52,406 after tax. For that financial year S2CM recorded a gross margin of € 29,592 and equity of € 2 million. Compared with financial year 2024, the result moved from € 93,184 to € -52,406. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on December 24, 2025.
€ 2 million
▼ 39% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -52,406
▼ still € 93,184 profit in 2024
Profit after tax over the fiscal year.
€ 148,298
▼ 1% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2 million.
People and assets in 2025
€ 25,271
▼ 34% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 371,036
▼ 6% vs 2024
€ 22,862 is repaid this year. At this pace the long-term loan is gone in ≈ 16 years.
€ 10,440
▼ 28% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 2,500
▼ 82% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 94,044 | € 82,285 | € 65,386 | € 29,592 | ▼ 55% |
| Profit after taxes | € 163,486 | € 43,510 | € 93,184 | € -52,406 | ▼ € 145,590 |
| Equity | € 4,323,370 | € 4,366,880 | € 3,266,064 | € 1,978,658 | ▼ 39% |
| Total debts | € 1,779,166 | € 539,601 | € 1,630,945 | € 1,631,697 | |
| Cash | € 876,102 | € 247,731 | € 149,629 | € 148,298 | ▼ 1% |
| Land & buildings | € 721,307 | € 697,593 | € 674,323 | € 651,325 | ▼ 3% |
| Retained profit | € 4,310,770 | € 4,354,280 | € 3,247,464 | € 1,960,058 | ▼ 40% |
| Dividend | € 1,231,620 | € 0 | € 1,200,000 | € 1,235,000 | ▲ 3% |
| Bank debt | € 436,783 | € 415,329 | € 393,417 | € 371,036 | ▼ 6% |
| Balance sheet total | € 6,102,536 | € 4,906,482 | € 4,897,009 | € 3,610,354 | ▼ 26% |
Key figures of S2CM, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to S2CM?
What happened at S2CM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 52,406 (▼ € 145,590 vs 2024). Source: NBB ↗
- New establishment in Oud-Heverlee. KBO
- Start of the company according to the CBE. KBO
In short
From € 163,486 profit in 2022 to € 52,406 loss in 2025.
Paid € 115,987 in corporate taxes since 2022.
Best year ever: 2022, with € 163,486 profit.
Paid out € 3.7 million in dividends to the owners in total.
Management
Behind S2CM is Olivier Duyckaerts. It owns 100% of Immo Ternell and 100% of Star Navigator SARL itself.
Directors
According to the 2025 annual accounts
Olivier Duyckaerts
Director
Establishments
Establishment units
Physical locations of this company
Rue de Messitert 233
4880 Aubel
Bierbeekstraat 88
3052 Oud-Heverlee
Active since 29 May 2006
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0880.843.637
- VAT number
- BE 0880.843.637
- Registered office
- Rue de Messitert 233, 4880 Aubel
- Names & denominations
- S2CM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 21 April 2006
- Peppol
- Active · Active since 2 Feb 2026
- Activities · NACE
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