ACTIVE

S.E.G.

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Financial year 2025 · closed on 31/12/2025

Net result

2,2 M €

+364.3% YoY

Gross margin

3,9 M €

+205.4% YoY

Equity

14,2 M €

+17.9% YoY

What does S.E.G. do?

S.E.G. is a Public limited company incorporated in 1982. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Uccle.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0422.550.311

Incorporation

19/03/1982

Legal form

Public limited company

Registered office

Avenue De Fré 229
1180 Uccle · BruxellesSee on map

Contributed capital

5 000 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate 68321Management of real estate on a fee or contract basis 68321Management of real estate on a fee or contract basis

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	3,9 M €	+205%	1,3 M €	-10.1%	1,4 M €	+6.8%	1,3 M €	+13.1%	1,2 M €	+8.9%	1,1 M €	+8.6%	1 M €	-33.4%	1,5 M €	+57.8%	953,1 k €	-6.1%	1 M €	+25.6%	808,8 k €	-9.5%	893,8 k €	+1.2%	883,3 k €	+12.3%	786,9 k €	+19.5%	658,3 k €	+213%	210,6 k €	-1.8%	214,4 k €	+27.0%	168,8 k €	-48.7%	328,8 k €	+45.1%	226,6 k €
EBITDA	3,7 M €	+238%	1,1 M €	+177%	391,7 k €	-68.9%	1,3 M €	+13.6%	1,1 M €	+12.5%	984,2 k €	+4.7%	940 k €	-35.5%	1,5 M €	+47.3%	990,1 k €	+0.4%	986,2 k €	+42.8%	690,8 k €	-17.8%	840,2 k €	+3.7%	810,4 k €	+17.2%	691,6 k €	+26.2%	547,9 k €	+216%	173,4 k €	-3.2%	179,1 k €	+37.8%	130 k €	-56.0%	295,3 k €	+56.4%	188,8 k €
Operating result	2,9 M €	+346%	645,9 k €	+1284%	-54,6 k €	-107%	836 k €	+61.0%	519,2 k €	+14.8%	452,3 k €	+138%	190,1 k €	-69.1%	614,6 k €	+117%	283,6 k €	+7.6%	263,5 k €	+393%	53,5 k €	-66.9%	161,5 k €	+219%	-135,9 k €	-351%	54,2 k €	+255%	-34,9 k €	-168%	51,5 k €	-11.3%	58,1 k €	+337%	13,3 k €	-92.0%	167,1 k €	+117%	76,9 k €
Net result	2,2 M €	+364%	464,1 k €	+1242%	-40,6 k €	-106%	629,1 k €	+111%	298,3 k €	+206%	97,5 k €	+56.9%	62,2 k €	-80.0%	311,1 k €	+387%	-108,3 k €	+3.5%	-112,2 k €	-381%	39,9 k €	-68.6%	127,1 k €	-34.8%	194,9 k €	+63.8%	119 k €	+71.6%	69,3 k €	+158%	-120,4 k €	-293%	62,2 k €	+110%	29,6 k €	-93.4%	447,7 k €	-15.0%	526,6 k €
Balance sheet
Equity	14,2 M €	+17.9%	12 M €	+3.1%	11,7 M €	-0.3%	11,7 M €	+5.7%	11,1 M €	+2.8%	10,8 M €	+0.9%	10,7 M €	+0.2%	10,7 M €	+3.0%	10,3 M €	-1.0%	10,5 M €	-1.1%	10,6 M €	+0.4%	10,5 M €	+1.2%	10,4 M €	+1.9%	10,2 M €	+1.2%	10,1 M €	+97.2%	5,1 M €	-2.3%	5,2 M €	+1.2%	5,2 M €	+0.6%	5,1 M €	+10.0%	4,7 M €
Total assets	15,3 M €	+16.4%	13,1 M €	+9.4%	12 M €	-2.7%	12,3 M €	+2.4%	12 M €	+7.1%	11,2 M €	-5.2%	11,8 M €	-0.4%	11,9 M €	-4.8%	12,5 M €	-4.7%	13,1 M €	+0.8%	13 M €	-3.0%	13,4 M €	+1.3%	13,2 M €	-12.5%	15,1 M €	+11.3%	13,6 M €	+41.8%	9,6 M €	+0.9%	9,5 M €	+0.6%	9,4 M €	-1.2%	9,5 M €	+22.1%	7,8 M €
Cash	227,5 k €	-71.8%	805,7 k €	+57.2%	512,6 k €	+19.1%	430,5 k €	+328%	100,5 k €	-75.1%	404,2 k €	-48.3%	781,9 k €	-30.5%	1,1 M €	+65.4%	680,3 k €	+1859%	34,7 k €	-94.7%	660 k €	-48.9%	1,3 M €	+5.0%	1,2 M €	-43.0%	2,2 M €	+22.4%	1,8 M €	+424%	336,3 k €	+134%	143,4 k €	+662%	18,8 k €	-54.9%	41,7 k €	+12.9%	37 k €
Debts	156,8 k €	-80.2%	791 k €	+2512%	30,3 k €	-85.5%	209,4 k €	-63.3%	570,5 k €	+533%	90,1 k €	-88.4%	773,7 k €	-4.8%	812,4 k €	-55.4%	1,8 M €	-19.2%	2,3 M €	+12.5%	2 M €	-19.0%	2,5 M €	+1.6%	2,4 M €	-45.9%	4,5 M €	+46.4%	3,1 M €	-25.6%	4,1 M €	+5.4%	3,9 M €	-0.3%	3,9 M €	-3.3%	4,1 M €	+36.3%	3 M €
Other
Workforce	–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 14 ended

Active mandates

Thierry AERTS

Managing director · since 01 janvier 2022

Active

Ended mandates

OLIVIER DEJONG

Director · since 01 janvier 2019

Ended

HALLEY MARRAKECH S. Etr.

Managing director · since 31 décembre 2016

Represented by THIERRY AERTS

Ended

PIERRE AERTS

Director · since 01 juillet 2008 · until 01 juillet 2014

Ended

NADINE LAURYS

Director · since 25 octobre 2007 · until 31 octobre 2013

Ended

At this address

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Immo Gestion Services● Active	0662.548.206
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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/07/2026	16/07/2025	27/08/2024	31/08/2023	30/08/2022	19/07/2021
General meeting	16/05/2026	17/05/2025	18/05/2024	20/05/2023	21/05/2022	15/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/05/2026	23/07/2026	French	PDF
Abridged model	31/12/2024	17/05/2025	16/07/2025	French	PDF
Abridged model	31/12/2023	18/05/2024	27/08/2024	French	PDF
Abridged model	31/12/2022	20/05/2023	31/08/2023	French	PDF
Abridged model	31/12/2021	21/05/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	15/05/2021	19/07/2021	French	PDF
Abridged model	31/12/2019	16/05/2020	02/07/2020	French	PDF
Abridged model	31/12/2018	18/05/2019	27/06/2019	French	PDF
Abridged model	31/12/2017	19/05/2018	25/07/2018	French	PDF
Abridged model	31/12/2016	20/05/2017	10/07/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	27/09/2016	French	PDF
Abridged model	31/12/2014	16/05/2015	16/07/2015	French	PDF
Abridged model	31/12/2013	17/05/2014	13/06/2014	French	PDF
Abridged model	31/12/2012	18/05/2013	10/06/2013	French	PDF
Abridged model	31/12/2011	30/06/2012	30/07/2012	French	PDF
Abridged model	31/12/2010	11/05/2011	07/07/2011	French	PDF
Abridged model	31/12/2009	30/06/2010	07/07/2010	French	PDF
Abridged model	31/12/2008	13/06/2009	03/07/2009	French	PDF
Abridged model	31/12/2007	13/06/2008	16/06/2008	French	PDF
Abridged model	31/12/2006	25/06/2007	18/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 14 ended

Active mandates

Thierry AERTS

Managing director · since 01 janvier 2022

Active

Ended mandates

OLIVIER DEJONG

Director · since 01 janvier 2019

Ended

HALLEY MARRAKECH S. Etr.

Managing director · since 31 décembre 2016

Represented by THIERRY AERTS

Ended

PIERRE AERTS

Director · since 01 juillet 2008 · until 01 juillet 2014

Ended

NADINE LAURYS

Director · since 25 octobre 2007 · until 31 octobre 2013

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring15/09/2025
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring30/05/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
PDF
Mandates03/04/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates31/03/2022
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates26/02/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates04/04/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates25/07/2014
DEMISSIONS, NOMINATIONS
PDF
Restructuring09/11/2011
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20252,2 M €↑
2024
Annual accounts 2024464,1 k €↑
2023
Annual accounts 2023-40,6 k €↓
2022
Annual accounts 2022629,1 k €↑
2021
Annual accounts 2021298,3 k €↑
2021
Name changeSEG
2020
Annual accounts 202097,5 k €↑
2019
Annual accounts 201962,2 k €↓
2018
Annual accounts 2018311,1 k €↑
2017
Annual accounts 2017-108,3 k €↑
2016
Annual accounts 2016-112,2 k €↓
2015
Annual accounts 201539,9 k €↓
2014
Annual accounts 2014127,1 k €↓
2013
Annual accounts 2013194,9 k €↑
2012
Annual accounts 2012119 k €↑
2011
Annual accounts 201169,3 k €↑
2010
Annual accounts 2010-120,4 k €↓
2009
Annual accounts 200962,2 k €↑
2008
Annual accounts 200829,6 k €↓
2007
Annual accounts 2007447,7 k €↓
2006
Annual accounts 2006526,6 k €
2006
Name changeS.E.G.
19/03/1982
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

S.E.G.

Overview

What does S.E.G. do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline