Financials
- Fiscal year
- 2025
- Total assets
- €3,876
- Loss
- -€2,574
- Solvency
- 88.4%
EXPEXP
ActiveSummary
The computed 12-month bankruptcy probability of EXPEXP is 2.0% (moderate). The annual accounts of EXPEXP for fiscal year 2025 show a net loss of 66% of total assets. The 2025 annual accounts show equity of €3,426 and a net result of -€2,574. Its solvency ranks better than 80% of 38 sector peers (NACE 51, fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Air transport
NACE 51210
1 site
Size
€3,876total assets 2025
- Equity
- €3,426
- Loss
- -€2,574
Turnover not published (abridged schema)
Structure
- Parent
- SAN SHUI · 100%
Accounts filed 67 days late0 of 2 deeds read
Why 55- Founded in 2024- 1 change of registered office in 24 months- Latest accounts 67 days late; 1 of the last 3 late+ Liquidity: current ratio 8.61, cash €3,804Show the evidence
Checked score
Score 2025
55
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 62% of its sector peers (NACE 51, micro)
Financial strength
Strong
Solvency
100
equity 88.4% of total assets
Liquidity
99
short-term debt 11.6% · cash 98.1%
Profitability
0
return on assets -66.4%
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
06-2025: 3.6%
07-2025: 3.6%● unchanged vs 06-2025
08-2025: 3.7%▲ +0.1 percentage points vs 07-2025
09-2025: 4.1%▲ +0.4 percentage points vs 08-2025
10-2025: 4.3%▲ +0.2 percentage points vs 09-2025
11-2025: 4.7%▲ +0.4 percentage points vs 10-2025
12-2025: 4.7%● unchanged vs 11-2025
01-2026: 4.9%▲ +0.2 percentage points vs 12-2025
02-2026: 5.0%▲ +0.1 percentage points vs 01-2026
03-2026: 4.8%▼ -0.2 percentage points vs 02-2026
04-2026: 4.9%▲ +0.1 percentage points vs 03-2026
05-2026: 5.3%▲ +0.4 percentage points vs 04-2026highest value
06-2026: 5.3%● unchanged vs 05-2026highest value
07-2026: 5.3%● unchanged vs 06-2026highest value
08-2026: 2.0%▼ -3.3 percentage points vs 07-2026
09-2026: 2.0%● unchanged vs 08-2026
10-2026: 2.0%● unchanged vs 09-2026lowest value
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
balance sheet total too small for a liquidity verdict.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 51, micro): better than 87% on solvency, 91% on liquidity and 9% on profitability.
The bankruptcy probability was computed on 07-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Five signals.
−lowers risk+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 06-07-2026, 67 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 1 filingDeviation from the deadline
2025
67 days late
← before the deadline
after the deadline →
Checked, nothing found (1)
- Annual accounts filedfiscal year 2025 · abbreviated…
Key points
By topic
Board & ownership
- Parent
- SAN SHUI · 100%
Timeline
- Events
- 1
- Since
- 2026
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Air transportNACE 51210
- Founded
- 31-05-2024
- Year ends
- 30-09
- Peppol
- Reachable for e-invoices
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