ppSanders
ActiveSummary
ppSanders has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €126,943 and a net result of €3,518. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-7
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 9.56 against 1.78 in 2024; short-term debt: 4.4% and cash: 19.4% of total assets), and 4.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
95.5%
Return on assets
2.6%
Age of the figures
12 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
78 d early
2023
1 d early
2022
2 d early
2021
33 d early
2020
31 d early
2019
14 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 28 April (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, micro schema
Equity
€126,943▲ 2.9%
2024 · €123,425
Total assets
€132,880▼ 19.0%
2024 · €164,142
Net result
€3,518▼ 73.1%
2024 · €13,075
Working capital
€50,382▲ 58.5%
2024 · €31,788
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€28,565▲ 16.5%€21,694▼ 24.1%€5,899▼ 72.8%€16,759▲ 184%€6,120▼ 63.5%
Net result€20,374within the sector's middle half▲ 13.3%€15,257within the sector's middle half▼ 25.1%€4,071within the sector's middle half▼ 73.3%€13,075within the sector's middle half▲ 221%€3,518within the sector's middle half▼ 73.1%
Equity€114,513within the sector's middle half▲ 21.6%€127,928above the sector's middle half▲ 11.7%€130,322above the sector's middle half▲ 1.9%€123,425within the sector's middle half▼ 5.3%€126,943within the sector's middle half▲ 2.9%
Total assets€117,769within the sector's middle half▲ 3.5%€145,072within the sector's middle half▲ 23.2%€143,364within the sector's middle half▼ 1.2%€164,142within the sector's middle half▲ 14.5%€132,880within the sector's middle half▼ 19.0%
Debt€3,256▼ 83.4%€17,144▲ 427%€13,042▼ 23.9%€40,717▲ 212%€5,936▼ 85.4%
Working capital€65,726within the sector's middle half▲ 42.0%€79,596within the sector's middle half▲ 21.1%€79,271within the sector's middle half▼ 0.4%€31,788within the sector's middle half▼ 59.9%€50,382within the sector's middle half▲ 58.5%
Solvency97.2%above the sector's middle half▲ 14.5pp88.2%above the sector's middle half▼ 9.1pp90.9%above the sector's middle half▲ 2.7pp75.2%above the sector's middle half▼ 15.7pp95.5%above the sector's middle half▲ 20.3pp
Current ratio21.19above the sector's middle half▲ 17.835.71above the sector's middle half▼ 15.477.08above the sector's middle half▲ 1.361.78within the sector's middle half▼ 5.309.56above the sector's middle half▲ 7.78
Return on assets (ROA)17.3%above the sector's middle half▲ 1.5pp10.5%within the sector's middle half▼ 6.8pp2.8%within the sector's middle half▼ 7.7pp8.0%within the sector's middle half▲ 5.1pp2.6%within the sector's middle half▼ 5.3pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 63% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €132,880
Fixed assets
€76,611 ▼ 16.4%
Current assets
€56,269 ▼ 22.4%
Equity and liabilities €132,880
Equity
€126,943 ▲ 2.9%
Debt
€5,936 ▼ 85.4%
Debt's share of the balance-sheet total falls from 24.8% to 4.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€21,147▼
2024 · €30,632
Cash flow
€18,545▼
2024 · €26,948
Quick ratio
7.74▲
2024 · 1.78
Debt to equity
0.05▼
2024 · 0.33
ROE
2.8%▼
2024 · 10.6%
Interest coverage
31.69▼
2024 · 323.26
Debt ≤ 1 year
€5,887▼
2024 · €40,717
Income taxes
€1,934▼
2024 · €4,326
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.7%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | €3,306 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,162 | €5,519 | €6,041 | €13,873 | €15,027 | ▲ 8.3% |
| Other operating charges640/8 | - | €936 | €944 | €1,206 | €2,434 | ▲ 102% |
| Gross operating margin9900 | €34,513 | €28,149 | €12,884 | €31,838 | €23,581 | ▼ 25.9% |
| Operating profit (loss)9901 | €28,565 | €21,694 | €5,899 | €16,759 | €6,120 | ▼ 63.5% |
| Financial income75/76B | - | €1,234 | €769 | €737 | €0 | ▼ 100% |
| Recurring financial income75 | €892 | €1,234 | €769 | €737 | €0 | ▼ 100% |
| Financial charges65/66B | - | €169 | €156 | €95 | €667 | ▲ 604% |
| Recurring financial charges65 | €581 | €169 | €156 | €95 | €667 | ▲ 604% |
| Profit (loss) for the period before taxes9903 | €28,876 | €22,759 | €6,513 | €17,401 | €5,452 | ▼ 68.7% |
| Income taxes67/77 | €8,502 | €7,502 | €2,443 | €4,326 | €1,934 | ▼ 55.3% |
| Profit (loss) for the period9904 | €20,374 | €15,257 | €4,071 | €13,075 | €3,518 | ▼ 73.1% |
| Profit (loss) for the period to be appropriated9905 | €20,374 | €15,257 | €4,071 | €13,075 | €3,518 | ▼ 73.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117,769 | €145,072 | €143,364 | €164,142 | €132,880 | ▼ 19.0% |
| Fixed assets21/28 | €48,787 | €48,592 | €51,051 | €91,638 | €76,611 | ▼ 16.4% |
| Tangible fixed assets22/27 | €48,787 | €48,592 | €51,051 | €91,638 | €76,611 | ▼ 16.4% |
| Land and buildings22 | - | €33,309 | €30,320 | €27,330 | €24,340 | ▼ 10.9% |
| Plant, machinery and equipment23 | - | €634 | €414 | €194 | €66 | ▼ 66.1% |
| Furniture and vehicles24 | - | €14,648 | €20,317 | €64,113 | €52,204 | ▼ 18.6% |
| Current assets29/58 | €68,983 | €96,480 | €92,313 | €72,504 | €56,269 | ▼ 22.4% |
| Stocks and contracts in progress3 | - | - | - | - | €10,683 | - |
| Stocks30/36 | - | - | - | - | €10,683 | - |
| Amounts receivable within one year40/41 | €17,028 | €43,736 | €20,669 | €48,342 | €17,907 | ▼ 63.0% |
| Trade receivables40 | - | €33,517 | €6,356 | €34,410 | €10,664 | ▼ 69.0% |
| Other amounts receivable41 | - | €10,219 | €14,313 | €13,932 | €7,243 | ▼ 48.0% |
| Cash at bank and in hand54/58 | €51,955 | €51,781 | €69,464 | €22,519 | €25,719 | ▲ 14.2% |
| Deferred charges and accrued income490/1 | - | €963 | €2,180 | €1,643 | €1,960 | ▲ 19.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117,769 | €145,072 | €143,364 | €164,142 | €132,880 | ▼ 19.0% |
| Equity10/15 | €114,513 | €127,928 | €130,322 | €123,425 | €126,943 | ▲ 2.9% |
| Contributions10/11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €62,715 | €82,872 | €105,322 | €98,425 | €101,943 | ▲ 3.6% |
| Non-distributable reserves130/1 | - | €2,500 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2,500 | €0 | - | - | - |
| Distributable reserves133 | - | €80,372 | €105,322 | €98,425 | €101,943 | ▲ 3.6% |
| Profit (loss) carried forward14 | €26,798 | €20,055 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €3,256 | €17,144 | €13,042 | €40,717 | €5,936 | ▼ 85.4% |
| Amounts payable within one year42/48 | €3,256 | €16,884 | €13,042 | €40,717 | €5,887 | ▼ 85.5% |
| Trade debts44 | €195 | €14,381 | €11,163 | €17,123 | €2,522 | ▼ 85.3% |
| Suppliers440/4 | - | €14,381 | €11,163 | €17,123 | €2,522 | ▼ 85.3% |
| Taxes, remuneration and social security45 | - | €0 | €149 | €3,622 | €1,496 | ▼ 58.7% |
| Taxes450/3 | - | €0 | €149 | €1,822 | €1,496 | ▼ 17.9% |
| Remuneration and social security454/9 | - | - | - | €1,800 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €2,503 | €1,730 | €19,972 | €1,868 | ▼ 90.6% |
| Accrued charges and deferred income492/3 | - | €260 | €0 | - | €50 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,374 | €15,257 | €4,071 | €13,075 | €3,518 | ▼ 73.1% |
| + Depreciation and write-downs630 | €5,162 | €5,519 | €6,041 | €13,873 | €15,027 | ▲ 8.3% |
| Operating cash flow (approximation) | €25,536 | €20,776 | €10,112 | €26,948 | €18,545 | ▼ 31.2% |
| Investment in fixed assets (approximation) | - | -€5,324 | -€8,500 | -€54,460 | €0 | ▲ 100% |
| Change in cash | - | -€174 | €17,683 | -€46,945 | €3,200 | ▲ 107% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 5current ratio 9.56
Current ratio from 1.78 to 9.56; short-term debt falls from €40,717 to €5,887.
11-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Liquidity times 6current ratio 21.19
Current ratio from 3.36 to 21.19; short-term debt falls from €19,642 to €3,256.
30-09
Financial
Equity above €100,000Eq €114,513 ▲21.6%
4 profitable years in a row build equity to €114,513.
30-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
16-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Highest result since 2018net €25,139 ▲2,769%
Operating result €34,350, net result €25,139, both a record.
12-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Evergem · 1 establishment unit since 2012
Ground area
1,016 m²
Building footprint
101 m²
Volume, LiDAR
513 m³
Parcel 43006C0786/00K000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
IJsvogelstraat 16, 9940 Evergem
since 20122.221.466.581
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43006C0786/00K000 | Flanders | 1,016 m² | 1 · 101 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 836 EUR awarded · 836 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 236 EUR | 236 EUR |
| 2022 | 1 | 600 EUR | 600 EUR |
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Of 7,043 companies in sector 43221 we hold annual accounts for 3,480. 3,050 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-09-2012
Fiscal year end30-09
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0849442856
Also
9925:BE0849442856
Registered
24-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.