ACTIVE

SZ (SA)

Financial year 2025 · closed on 31/12/2025
Net result
-223 k €
-311.9% YoY
Gross margin
956,6 k €
-12.6% YoY
Equity
1,9 M €
-22.1% YoY
Workforce
0,0 ETP

What does SZ do?

SZ is a Public limited company incorporated in 2001. Its main activity is: Management consultancy activities. Its registered office is in Wommelgem.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0475.225.467
Incorporation
06/07/2001
Legal form
Public limited company
Registered office
Koralenhoeve 35
2160 Wommelgem · FlandreSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Average workforce
0,0 ETP
Signals
Positive cashflowPositive EBITDA
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120192018201720162015201420132012201120102009200820072006
Income statement
Gross margin956,6 k €1,1 M €1 M €974,2 k €1,2 M €427 k €-3,5 k €-7,8 k €63,7 k €88 k €90,4 k €86,7 k €82,2 k €75,2 k €-28,9 k €87,5 k €263 €785 €-603 €
EBITDA896,5 k €1,1 M €1 M €958,4 k €1,2 M €417 k €-10,6 k €-30,3 k €61,8 k €86,9 k €87,5 k €83,7 k €78,7 k €72,1 k €-31,6 k €84,9 k €-2,5 k €-1,3 k €-2,8 k €
Operating result409,4 k €865,1 k €833,6 k €319,2 k €1,1 M €13,9 k €-87,9 k €-69,1 k €23,7 k €79,5 k €80,1 k €73,8 k €67,2 k €68 k €-38,9 k €77,5 k €-9,8 k €-8,6 k €-10,4 k €
Net result-223 k €105,2 k €192,5 k €-83,6 k €596,1 k €-129,3 k €-99,6 k €-57,8 k €-50,2 k €69,4 k €77,3 k €866,4 k €26 k €29,6 k €-81,8 k €42,1 k €-53,9 k €-34,8 k €-19,3 k €
Balance sheet
Equity1,9 M €2,4 M €2,3 M €2,2 M €2,3 M €1 M €1,2 M €1,3 M €1,3 M €1,4 M €1,3 M €1,2 M €352,5 k €326,4 k €296,9 k €378,7 k €336,6 k €390,4 k €425,2 k €
Total assets16,1 M €15 M €18,3 M €12,7 M €11,6 M €7,6 M €3,3 M €1,3 M €1,6 M €4,5 M €5,8 M €5,5 M €3,6 M €3,4 M €2,2 M €3,4 M €1,2 M €959 k €780,2 k €
Cash22,4 k €59,5 k €108,1 k €42,2 k €418 k €47,8 k €121,6 k €34,4 k €54,5 k €12,9 k €8,1 k €13,9 k €22,9 k €7,5 k €19,5 k €6 k €31,9 k €4,1 k €1,1 k €
Debts14,2 M €12,5 M €16 M €10,5 M €9,2 M €6,5 M €2,1 M €87 k €263,1 k €3 M €4,4 M €4,1 M €3,1 M €3 M €1,8 M €3 M €841,5 k €552 k €346,2 k €
Other
Workforce0,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 14 ended

Active mandates

Carl M.F. Liekens

Managing director · since 02 juin 2025 · until 03 juin 2031

Active
Lieve Keuppens

Managing director · since 02 juin 2025 · until 03 juin 2031

Active

Ended mandates

Carl M. F. Liekens

Managing director · since 03 juin 2019 · until 02 juin 2025

Ended
Carl M.F. Liekens

Managing director · since 03 juin 2019 · until 02 juin 2025

Ended
Lieve KEUPPENS

Managing director · since 03 juin 2019 · until 02 juin 2025

Ended
Lieve KEUPPENS

Managing director · since 20 décembre 2018 · until 03 juin 2019

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date27/08/202629/08/202523/08/202426/07/202318/08/202225/08/2021
General meeting01/06/202602/06/202503/06/202405/06/202307/06/202207/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202501/06/202627/08/2026DutchPDF
Abridged model31/12/202402/06/202529/08/2025DutchPDF
Abridged model31/12/202303/06/202423/08/2024DutchPDF
Abridged model31/12/202205/06/202326/07/2023DutchPDF
Abridged model31/12/202107/06/202218/08/2022DutchPDF
Abridged model31/12/202007/06/202125/08/2021DutchPDF
Abridged model31/12/201902/06/202022/10/2020DutchPDF
Abridged model31/12/201803/06/201908/08/2019DutchPDF
Abridged model31/12/201704/06/201829/08/2018DutchPDF
Abridged model31/12/201606/06/201716/08/2017DutchPDF
Abridged model31/12/201506/06/201629/06/2016DutchPDF
Abridged model31/12/201401/06/201528/07/2015DutchPDF
Abridged model31/12/201302/06/201420/08/2014DutchPDF
Abridged model31/12/201203/06/201323/07/2013DutchPDF
Abridged model31/12/201104/06/201229/08/2012DutchPDF
Abridged model31/12/201006/06/201125/08/2011DutchPDF
Abridged model31/12/200907/06/201024/06/2010DutchPDF
Abridged model31/12/200808/06/200924/06/2009DutchPDF
Abridged model31/12/200702/06/200822/07/2008DutchPDF
Abridged model31/12/200604/06/200716/07/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 2 active · 14 ended

Active mandates

Carl M.F. Liekens

Managing director · since 02 juin 2025 · until 03 juin 2031

Active
Lieve Keuppens

Managing director · since 02 juin 2025 · until 03 juin 2031

Active

Ended mandates

Carl M. F. Liekens

Managing director · since 03 juin 2019 · until 02 juin 2025

Ended
Carl M.F. Liekens

Managing director · since 03 juin 2019 · until 02 juin 2025

Ended
Lieve KEUPPENS

Managing director · since 03 juin 2019 · until 02 juin 2025

Ended
Lieve KEUPPENS

Managing director · since 20 décembre 2018 · until 03 juin 2019

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates10/11/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other25/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates25/07/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates25/01/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates25/07/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/04/2008
    ONTSLAGEN - BENOEMINGEN
    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

Timeline

  1. 2025
    Annual accounts 2025-223 k €
  2. 2024
    Annual accounts 2024105,2 k €
  3. 2023
    Annual accounts 2023192,5 k €
  4. 2022
    Annual accounts 2022-83,6 k €
  5. 2021
    Annual accounts 2021596,1 k €
  6. 2019
    Annual accounts 2019-129,3 k €
  7. 2018
    Annual accounts 2018-99,6 k €
  8. 2017
    Annual accounts 2017-57,8 k €
  9. 2016
    Annual accounts 2016-50,2 k €
  10. 2015
    Annual accounts 201569,4 k €
  11. 2014
    Annual accounts 201477,3 k €
  12. 2013
    Annual accounts 2013866,4 k €
  13. 2012
    Annual accounts 201226 k €
  14. 2011
    Annual accounts 201129,6 k €
  15. 2010
    Annual accounts 2010-81,8 k €
  16. 2009
    Annual accounts 200942,1 k €
  17. 2008
    Annual accounts 2008-53,9 k €
  18. 2007
    Annual accounts 2007-34,8 k €
  19. 2006
    Annual accounts 2006-19,3 k €
  20. 06/07/2001
    IncorporationPublic limited company