Summary
SHM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €14.00M and a net result of €28k. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 95% of 2399 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €14.00M
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
9 d early
2024
13 d late
2023
30 d late
2022
3 d early
2021
10 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory accounts
Equity
€14.00M▲ 101%
2024 · €6.96M
2018: €6.84Mlowest in 8 years
2019: €6.89M▲ +0.7% vs 2018
2020: €6.90M▲ +0.1% vs 2019
2021: €6.93M▲ +0.6% vs 2020
2022: €6.95M▲ +0.2% vs 2021
2023: €6.95M▲ +0.1% vs 2022
2024: €6.96M▲ +0.1% vs 2023
2025: €14.00M▲ +101% vs 2024highest in 8 years
2018 → 2025
Net result
€28k▲ 285%
2024 · €7k
2018: €36k
2019: €45k▲ +25.8% vs 2018highest in 8 years
2020: €8k▼ -81.3% vs 2019
2021: €39k▲ +363% vs 2020
2022: €13k▼ -67.3% vs 2021
2023: €6k▼ -51.1% vs 2022lowest in 8 years
2024: €7k▲ +19.1% vs 2023
2025: €28k▲ +285% vs 2024
2018 → 2025
Total assets
€14.07M▲ 99.8%
2024 · €7.04M
2018: €7.15M
2019: €7.11M▼ -0.7% vs 2018
2020: €7.03M▼ -1.1% vs 2019
2021: €7.03M● +0.0% vs 2020
2022: €7.02M▼ -0.1% vs 2021lowest in 8 years
2023: €7.03M▲ +0.2% vs 2022
2024: €7.04M▲ +0.1% vs 2023
2025: €14.07M▲ +99.8% vs 2024highest in 8 years
2018 → 2025
Solvency
99.5%▲ 0.7pp
2024 · 98.8%
2018: 95.6%lowest in 8 years
2019: 96.9%▲ +1.3% vs 2018
2020: 98.1%▲ +1.2% vs 2019
2021: 98.6%▲ +0.6% vs 2020
2022: 98.9%▲ +0.3% vs 2021
2023: 98.8%▼ -0.1% vs 2022
2024: 98.8%● -0.0% vs 2023
2025: 99.5%▲ +0.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€300k-€300k=€300k=€300k=€420k▲ 40.0%
2021: €300klowest in 5 years
2022: €300k● 0.0% vs 2021lowest in 5 years
2023: €300k● 0.0% vs 2022lowest in 5 years
2024: €300k● 0.0% vs 2023lowest in 5 years
2025: €420k▲ +40.0% vs 2024highest in 5 years
Equity€6.93M-€6.95M▲ 0.2%€6.95M▲ 0.1%€6.96M▲ 0.1%€14.00M▲ 101%
2021: €6.93Mlowest in 5 years
2022: €6.95M▲ +0.2% vs 2021
2023: €6.95M▲ +0.1% vs 2022
2024: €6.96M▲ +0.1% vs 2023
2025: €14.00M▲ +101% vs 2024highest in 5 years
Operating result€56k-€19k▼ 66.0%€10k▼ 47.0%€11k▲ 5.2%€39k▲ 267%
2021: €56khighest in 5 years
2022: €19k▼ -66.0% vs 2021
2023: €10k▼ -47.0% vs 2022lowest in 5 years
2024: €11k▲ +5.2% vs 2023
2025: €39k▲ +267% vs 2024
Net result€39k-€13k▼ 67.3%€6k▼ 51.1%€7k▲ 19.1%€28k▲ 285%
2021: €39khighest in 5 years
2022: €13k▼ -67.3% vs 2021
2023: €6k▼ -51.1% vs 2022lowest in 5 years
2024: €7k▲ +19.1% vs 2023
2025: €28k▲ +285% vs 2024
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 267% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.07M
Fixed assets
€14.05M ▲ 100%
Current assets
€23k ▼ 11.3%
Equity and liabilities €14.07M
Equity
€14.00M ▲ 101%
Debt
€71k ▼ 14.5%
Debt's share of the balance-sheet total falls from 1.2% to 0.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
0.2%▲
2024 · 0.1%
ROA
0.2%▲
2024 · 0.1%
Debt ≤ 1 year
€71k▼
2024 · €83k
Income taxes
€10k▲
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€7.04M€14.07M▲
Fixed assets21/28€7.02M€14.05M▲
Financial fixed assets28€7.02M€14.05M▲
Affiliated companies280/1€7.02M€14.05M▲
Participating interests280€7.02M€14.03M▲
Amounts receivable281-€19k
Current assets29/58€26k€23k▼
Amounts receivable within one year40/41€15k€15k▲
Other amounts receivable41€15k€15k▲
Cash at bank and in hand54/58€12k€8k▼
Equity and liabilities
Total equity and liabilities10/49€7.04M€14.07M▲
Equity10/15€6.96M€14.00M▲
Contributions10/11€5.73M€12.74M▲
Capital10€5.73M€12.74M▲
Issued capital100€5.73M€12.74M▲
Reserves13€1.23M€1.26M▲
Non-distributable reserves130/1€65k€66k▲
Legal reserve130€65k€66k▲
Distributable reserves133€1.17M€1.19M▲
Amounts payable17/49€83k€71k▼
Amounts payable within one year42/48€83k€71k▼
Trade debts44€10k€52k▲
Suppliers440/4€10k€52k▲
Taxes, remuneration and social security45€269€19k▲
Taxes450/3€269€19k▲
Other amounts payable47/48€73k-
Income statement
Code20242025
Operating income70/76A€300k€420k▲
Turnover70€300k€420k▲
Operating charges60/66A€289k€381k▲
Services and other goods61€288k€380k▲
Other operating charges640/8€1k€1k▲
Operating profit (loss)9901€11k€39k▲
Financial income75/76B€858€812▼
Recurring financial income75€858€812▼
Other financial income752/9€858€812▼
Financial charges65/66B€2k€868▼
Recurring financial charges65€2k€868▼
Debt charges650€1k€663▼
Other financial charges652/9€51€205▲
Profit (loss) for the period before taxes9903€10k€39k▲
Income taxes67/77€3k€10k▲
Taxes670/3€3k€10k▲
Profit (loss) for the period9904€7k€28k▲
Profit (loss) for the period to be appropriated9905€7k€28k▲
Appropriation of the result
Profit (loss) to be appropriated9906€7k€28k▲
Transfer to equity691/2€7k€28k▲
To the legal reserve6920€400€2k▲
To other reserves6921€7k€27k▲
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €300k | €300k | €300k | €300k | €420k | ▲ 40.0% |
| Turnover70 | €300k | €300k | €300k | €300k | €420k | ▲ 40.0% |
| Operating charges60/66A | €244k | €281k | €290k | €289k | €381k | ▲ 31.7% |
| Services and other goods61 | €243k | €280k | €289k | €288k | €380k | ▲ 31.8% |
| Other operating charges640/8 | €969 | €970 | €1k | €1k | €1k | ▲ 3.0% |
| Operating profit (loss)9901 | €56k | €19k | €10k | €11k | €39k | ▲ 267% |
| Financial income75/76B | €555 | €5 | €272 | €858 | €812 | ▼ 5.4% |
| Recurring financial income75 | €555 | €5 | €272 | €858 | €812 | ▼ 5.4% |
| Income from financial fixed assets750 | €555 | - | - | - | - | - |
| Other financial income752/9 | - | €5 | €272 | €858 | €812 | ▼ 5.4% |
| Financial charges65/66B | €4k | €2k | €2k | €2k | €868 | ▼ 42.2% |
| Recurring financial charges65 | €4k | €2k | €2k | €2k | €868 | ▼ 42.2% |
| Debt charges650 | €3k | €1k | €1k | €1k | €663 | ▼ 54.3% |
| Other financial charges652/9 | €374 | €500 | €642 | €51 | €205 | ▲ 299% |
| Profit (loss) for the period before taxes9903 | €53k | €17k | €8k | €10k | €39k | ▲ 290% |
| Income taxes67/77 | €14k | €5k | €2k | €3k | €10k | ▲ 304% |
| Taxes670/3 | €14k | €5k | €2k | €3k | €10k | ▲ 304% |
| Profit (loss) for the period9904 | €39k | €13k | €6k | €7k | €28k | ▲ 285% |
| Profit (loss) for the period to be appropriated9905 | €39k | €13k | €6k | €7k | €28k | ▲ 285% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.03M | €7.02M | €7.03M | €7.04M | €14.07M | ▲ 99.8% |
| Fixed assets21/28 | €7.03M | €7.02M | €7.02M | €7.02M | €14.05M | ▲ 100% |
| Financial fixed assets28 | €7.03M | €7.02M | €7.02M | €7.02M | €14.05M | ▲ 100% |
| Affiliated companies280/1 | €7.03M | €7.02M | €7.02M | €7.02M | €14.05M | ▲ 100% |
| Participating interests280 | €7.02M | €7.02M | €7.02M | €7.02M | €14.03M | ▲ 99.9% |
| Amounts receivable281 | €8k | - | - | - | €19k | - |
| Current assets29/58 | €5k | €4k | €17k | €26k | €23k | ▼ 11.3% |
| Amounts receivable within one year40/41 | - | €4k | €16k | €15k | €15k | ▲ 5.6% |
| Trade receivables40 | - | €4k | €2k | - | - | - |
| Other amounts receivable41 | - | - | €14k | €15k | €15k | ▲ 5.6% |
| Cash at bank and in hand54/58 | €5k | €37 | €1k | €12k | €8k | ▼ 32.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.03M | €7.02M | €7.03M | €7.04M | €14.07M | ▲ 99.8% |
| Equity10/15 | €6.93M | €6.95M | €6.95M | €6.96M | €14.00M | ▲ 101% |
| Contributions10/11 | €5.73M | €5.73M | €5.73M | €5.73M | €12.74M | ▲ 122% |
| Capital10 | €5.73M | €5.73M | €5.73M | €5.73M | €12.74M | ▲ 122% |
| Issued capital100 | €5.73M | €5.73M | €5.73M | €5.73M | €12.74M | ▲ 122% |
| Reserves13 | €1.21M | €1.22M | €1.22M | €1.23M | €1.26M | ▲ 2.3% |
| Non-distributable reserves130/1 | €63k | €64k | €64k | €65k | €66k | ▲ 2.3% |
| Legal reserve130 | €63k | €64k | €64k | €65k | €66k | ▲ 2.3% |
| Distributable reserves133 | €1.14M | €1.15M | €1.16M | €1.17M | €1.19M | ▲ 2.3% |
| Amounts payable17/49 | €96k | €75k | €81k | €83k | €71k | ▼ 14.5% |
| Amounts payable within one year42/48 | €94k | €75k | €81k | €83k | €71k | ▼ 14.5% |
| Trade debts44 | €24k | €36k | €34k | €10k | €52k | ▲ 440% |
| Suppliers440/4 | €24k | €36k | €34k | €10k | €52k | ▲ 440% |
| Taxes, remuneration and social security45 | €19k | €21k | €3k | €269 | €19k | ▲ 7,011% |
| Taxes450/3 | €19k | €21k | €3k | €269 | €19k | ▲ 7,011% |
| Other amounts payable47/48 | €51k | €18k | €45k | €73k | - | - |
| Accrued charges and deferred income492/3 | €2k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39k | €13k | €6k | €7k | €28k | ▲ 285% |
| Operating cash flow (approximation) | €39k | €13k | €6k | €7k | €28k | ▲ 285% |
| Investment in fixed assets (approximation) | - | €8k | €0 | €0 | €-7.03M | - |
| Change in cash | - | €-5k | €1k | €10k | €-4k | ▼ 136% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · consolidated
2025
31-12
Financial
Equity above €10MEq €14.00M ▲101%
8 profitable years in a row build equity to €14.00M.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 13 days late
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated · 13 days late
2024
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated · 30 days late
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €6k ▼51.1%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
21-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2019
31-12
Financial
Highest result since 2018net €45k ▲25.8%
Operating result €74k, net result €45k, both a record.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
14 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Dessel · 1 establishment unit since 2003
Ground area
8.0 ha
Building footprint
6,385 m²
Volume, LiDAR
47,461 m³
2 parcels, Flanders · tallest building 18.0 m, ±4 floors. Linked by address, not a title deed.
17
companies at this address
See who is registered here
1 establishment unit
Oude Markt 1, 2480 Dessel
since 20032.115.662.347
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13006F0004/00D005 | Flanders | 5.2 ha | 1 · 1,504 m² | 13.8 m · 4 fl. |
| 13006E0897/00P000 | Flanders | 2.7 ha | 1 · 4,881 m² | 18.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 24,727 companies in sector 64210 we hold annual accounts for 19,768. 5,119 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-10-2002
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.