NV SAS INSTITUTE SA
ActiveNV SAS INSTITUTE SA has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.29M and a net result of €696k. Equity is growing by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 30% of 1395 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability58▼-1
Solvency40▲+1
Growth61=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €550k at 30 days acceptable
Liquidity ample (current ratio 2.67 against 3.33 in 2024; short-term debt: 34.9% and cash: 33.7% of total assets), but 85.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.7%
Return on assets
1.2%
Age of the figures
9 mo
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 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
6 d early
2023
61 d early
2022
49 d early
2021
48 d early
2020
44 d early
2019
43 d early
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€47.24M▼ 4.2%
2024 · €49.33M
2018: €53.14M
2019: €45.24M
2020: €43.76M
2021: €45.98M
2022: €45.70M
2023: €47.48M
2024: €49.33M
2018 → 2025
EBIT margin
3.0%▲ 0.1pp
2024 · 2.9%
2018: 2.9%
2019: 2.9%
2020: 2.9%
2021: 3.4%
2022: 3.3%
2023: 3.0%
2024: 2.9%
2018 → 2025
Net result
€696k▼ 26.6%
2024 · €949k
2018: €290k
2019: €525k
2020: €525k
2021: €474k
2022: €727k
2023: €751k
2024: €949k
2018 → 2025
Working capital
€32.91M▼ 7.4%
2024 · €35.54M
2018: €33.63M
2019: €29.74M
2020: €30.75M
2021: €32.21M
2022: €32.85M
2023: €37.22M
2024: €35.54M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€45.98M-€45.70M▼ 0.6%€47.48M▲ 3.9%€49.33M▲ 3.9%€47.24M▼ 4.2%
Equity€5.20M-€5.93M▲ 14.0%€6.67M▲ 12.5%€7.61M▲ 14.1%€8.29M▲ 9.0%
Operating result€1.55M-€1.50M▼ 3.1%€1.42M▼ 5.6%€1.42M=€1.41M▼ 0.9%
Net result€474k-€727k▲ 53.5%€751k▲ 3.3%€949k▲ 26.3%€696k▼ 26.6%
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 1% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €56.43M
Fixed assets
€3.80M▼ 3.0%
Current assets
€52.63M▲ 3.6%
Equity and liabilities €56.43M
Equity
€8.29M▲ 9.0%
Provisions
€55k▼ 78.9%
Debt
€48.08M▲ 2.6%
The debt ratio falls from 85.6% to 85.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.72M▼
2024 · €1.75M
Cash flow
€1.01M▼
2024 · €1.28M
Solvency
14.7%▲
2024 · 13.9%
Current ratio
2.67▼
2024 · 3.33
Quick ratio
2.67▼
2024 · 3.33
Debt / equity
5.80▼
2024 · 6.16
ROE
8.4%▼
2024 · 12.5%
ROA
1.2%▼
2024 · 1.7%
Interest coverage
7.96▼
2024 · 11.15
Debt
€48.08M▲
2024 · €46.86M
Debt ≤ 1 year
€19.72M▲
2024 · €15.27M
Income taxes
€571k▲
2024 · €469k
Staff costs
€19.73M▼
2024 · €21.44M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€54.73M€56.43M▲
Fixed assets21/28€3.92M€3.80M▼
Tangible fixed assets22/27€3.92M€3.80M▼
Land and buildings22€2.10M€1.96M▼
Plant, machinery and equipment23€189k€120k▼
Furniture and vehicles24€74k€59k▼
Assets under construction and advance payments27€1.56M€1.66M▲
Current assets29/58€50.81M€52.63M▲
Amounts receivable within one year40/41€40.29M€33.55M▼
Trade receivables40€17.13M€11.73M▼
Other amounts receivable41€23.16M€21.82M▼
Cash at bank and in hand54/58€10.52M€19.03M▲
Deferred charges and accrued income490/1€3k€54k▲
Equity and liabilities
Total equity and liabilities10/49€54.73M€56.43M▲
Equity10/15€7.61M€8.29M▲
Contributions10/11€2.79M€2.79M=
Capital10€2.79M€2.79M=
Issued capital100€2.79M€2.79M=
Reserves13€635k€635k=
Non-distributable reserves130/1€279k€279k=
Legal reserve130€279k€279k=
Distributable reserves133€356k€356k=
Profit (loss) carried forward14€4.01M€4.71M▲
Investment grants15€176k€166k▼
Provisions and deferred taxes16€261k€55k▼
Provisions for liabilities and charges160/5€203k-
Other liabilities and charges164/5€203k-
Deferred taxes168€59k€55k▼
Amounts payable17/49€46.86M€48.08M▲
Amounts payable within one year42/48€15.27M€19.72M▲
Trade debts44€7.80M€13.81M▲
Suppliers440/4€7.80M€13.81M▲
Taxes, remuneration and social security45€7.47M€5.91M▼
Taxes450/3€1.53M€1.02M▼
Remuneration and social security454/9€5.94M€4.89M▼
Accrued charges and deferred income492/3€31.59M€28.36M▼
Income statement
Code20242025
Operating income70/76A€49.34M€47.24M▼
Turnover70€49.33M€47.24M▼
Other operating income74€6k-
Operating charges60/66A€47.92M€45.83M▼
Goods for resale, raw materials and consumables60€22.53M€22.63M▲
Purchases600/8€22.53M€22.63M▲
Services and other goods61€3.73M€3.54M▼
Remuneration, social security and pensions62€21.44M€19.73M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€335k€310k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€153k€-195k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-307k€-203k▲
Other operating charges640/8€36k€31k▼
Operating profit (loss)9901€1.42M€1.41M▼
Financial income75/76B€166k€84k▼
Recurring financial income75€166k€84k▼
Income from current assets751€156k€73k▼
Other financial income752/9€10k€11k▲
Financial charges65/66B€171k€228k▲
Recurring financial charges65€171k€228k▲
Debt charges650€157k€216k▲
Other financial charges652/9€13k€12k▼
Profit (loss) for the period before taxes9903€1.41M€1.26M▼
Transfer from deferred taxes780€3k€3k=
Income taxes67/77€469k€571k▲
Taxes670/3€500k€571k▲
Tax adjustments and reversals of tax provisions77€31k-
Profit (loss) for the period9904€949k€696k▼
Profit (loss) for the period to be appropriated9905€949k€696k▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.01M€4.71M▲
Profit (loss) brought forward from the previous period14P€3.06M€4.01M▲
Social balance
Average headcount (FTE)9087105.897.4▼
The notes to these accounts (41 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €949k ▲26.3%
Net result €949k, the highest in the series.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €5MEq €5.20M ▲10%
4 profitable years in a row build equity to €5.20M.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
12-12-2025
Gijsbert Boers: Resigned as Director
12-12-2025
William Davis: Resigned as Director
01-12-2019
Jeroen Van Godtsenhoven: Resigned as Director
01-11-2016
Els Brusselmans: Resigned as Director
18-12-2015
Geert Van Peteghem: Resigned as Managing director
17-12-2015
Geert Van Peteghem: Resigned as Director
13-03-2015
Gijsbert Boers: Resigned as Managing director
22-04-2014
Patrick Van Deven: Resigned as Director
Location & real-estate footprint
Registered office, Tervuren · 1 establishment unit since 1989
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Hertenbergstraat 63080 TervurenGround area
2.6 ha
Building footprint
1,051 m²
Volume, LiDAR
10,000 m³
Parcel 24302F0113/00H000, Flanders · tallest building 18.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SAS INSTITUTE
since 19892.039.367.194
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24302F0113/00H000 ProtectedMonument · Townscape or village viewKasteeldomein de Robiano: kasteel met aanhorighedenSource ↗ |
Flanders | 2.6 ha | 1 · 1,051 m² | 18.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Structure & network
Group per the LEI register
2 parent companiesParent company:SAS Institute A/S
Ultimate parent:SAS INSTITUTE INC.
Public money · subsidies and aid
European research
2 projectsProgrammes
h2020
HORIZON
Projects
Multidisciplinary Integration and Networking for INcreased sustainability and multi-resources valorization of Geothermal Brines
Prostate Cancer DIagnOsis and TreatmeNt Enhancement through the Power of Big Data in EuRope
Recognitions · licences · registrations
Legal Entity Identifier
549300Z2DCHE3X8RC974
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Of 16,874 companies in sector 62100 we hold annual accounts for 8,779. 933 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-06-1988
Fiscal year end31-12
Activities, NACEBEL
62010Computer programming, consultancy and related activities
62100Computer programming
72220
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.