SAGE
ActiveSummary
SAGE has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.1m and a net result of €5.7m. Equity is shrinking by ~20.3% per year across the filed fiscal years. Its solvency ranks better than 41% of 1452 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency54▲+1
Growth55▲+1
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €380,000 at 30 days acceptable
Liquidity ample (current ratio 2.57 against 2.38 in 2024; short-term debt: 38.9% and cash: 1.4% of total assets), but 71% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← 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
29%
Return on assets
32.5%
Age of the figures
12 mo
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 02-04-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
48 d early
2023
20 d early
2022
55 d early
2021
60 d early
2020
129 d early
2019
2 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 49 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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 13 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 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 Is the workforce growing, and do people stay?Employer 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 How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#5 oldest company in Brussels, Telecoms and IT sector
Turnover
€15.7m▲ 9.7%
2024 · €14.4m
EBIT margin
44.8%▼ 0.4pp
2024 · 45.2%
Net result
€5.7m▲ 4.2%
2024 · €5.5m
Working capital
€10.7m▲ 5.8%
2024 · €10.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related 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
Turnover€10.8m=€11.6m▲ 7.6%€12.8m▲ 10.3%€14.4m▲ 12.2%€15.7m▲ 9.7%
Operating result€5.1m▲ 18.9%€5.0m▼ 1.6%€5.4m▲ 8.2%€6.5m▲ 20.6%€7.0m▲ 8.6%
Net result€4.2mabove the sector's middle half▲ 34.4%€3.9mabove the sector's middle half▼ 6.5%€4.5mabove the sector's middle half▲ 15.7%€5.5mabove the sector's middle half▲ 21.2%€5.7mabove the sector's middle half▲ 4.2%
EBIT margin46.9%▲ 7.5pp42.9%▼ 4.0pp42.1%▼ 0.8pp45.2%▲ 3.1pp44.8%▼ 0.4pp
Equity€4.8mabove the sector's middle half▼ 80.6%€8.7mabove the sector's middle half▲ 81.9%€5.2mabove the sector's middle half▼ 40.1%€4.9mabove the sector's middle half▼ 6.2%€5.1mabove the sector's middle half▲ 4.3%
Total assets€40.6mabove the sector's middle half▲ 33.0%€14.9mabove the sector's middle half▼ 63.3%€19.4mabove the sector's middle half▲ 30.1%€17.6mabove the sector's middle half▼ 9.3%€17.6mabove the sector's middle half=
Debt€35.4m▲ 584%€5.9m▼ 83.3%€14.2m▲ 139%€12.7m▼ 10.3%€12.5m▼ 1.7%
Working capital€8.7mabove the sector's middle half▼ 69.2%€13.0mabove the sector's middle half▲ 50.0%€9.9mabove the sector's middle half▼ 24.1%€10.1mabove the sector's middle half▲ 2.6%€10.7mabove the sector's middle half▲ 5.8%
Solvency11.8%below the sector's middle half▼ 68.8pp58.2%within the sector's middle half▲ 46.5pp26.8%within the sector's middle half▼ 31.4pp27.8%within the sector's middle half▲ 0.9pp29.0%within the sector's middle half▲ 1.2pp
Current ratio1.28within the sector's middle half▼ 20.3811.24above the sector's middle half▲ 9.962.07within the sector's middle half▼ 9.172.38within the sector's middle half▲ 0.322.57within the sector's middle half▲ 0.19
Return on assets (ROA)10.3%within the sector's middle half▲ 0.1pp26.2%above the sector's middle half▲ 15.9pp23.3%above the sector's middle half▼ 2.9pp31.2%above the sector's middle half▲ 7.8pp32.5%above the sector's middle half▲ 1.3pp
Staff (FTE)24.2within the sector's middle half▼ 10.4%20.9within the sector's middle half▼ 13.6%19.8within the sector's middle half▼ 5.3%18.9within the sector's middle half▼ 4.5%18within the sector's middle half▼ 4.8%
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 9% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17.6m
Fixed assets
€9,444 ▼ 91.5%
Current assets
€17.6m ▲ 0.6%
Equity and liabilities €17.6m
Equity
€5.1m ▲ 4.3%
Debt
€12.5m ▼ 1.7%
Debt's share of the balance-sheet total falls from 72.2% to 71.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€7.2m▲
2024 · €6.6m
Cash flow
€5.8m▲
2024 · €5.6m
Debt to equity
2.45▼
2024 · 2.60
ROE
112.1%▼
2024 · 112.2%
Interest coverage
373.35▼
2024 · 400.78
Debt ≤ 1 year
€6.8m▼
2024 · €7.3m
Income taxes
€1.9m▲
2024 · €1.9m
Staff costs
€2.0m▲
2024 · €1.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,613 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
2.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,338 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% | 1.9% |
| 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 2,613 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €11.6m | €12.9m | €14.4m | €15.9m | ▲ 11.0% |
| Turnover70 | €10.8m | €11.6m | €12.8m | €14.4m | €15.7m | ▲ 9.7% |
| Other operating income74 | - | €37,136 | €85,198 | €18,215 | €203,083 | ▲ 1,015% |
| Operating charges60/66A | - | €6.7m | €7.5m | €7.9m | €8.9m | ▲ 12.9% |
| Goods for resale, raw materials and consumables60 | - | €2.6m | €3.1m | €3.9m | €4.4m | ▲ 10.8% |
| Purchases600/8 | - | €2.6m | €3.1m | €3.9m | €4.4m | ▲ 10.8% |
| Services and other goods61 | - | €2.1m | €2.3m | €1.9m | €2.5m | ▲ 25.8% |
| Remuneration, social security and pensions62 | - | €1.9m | €2.0m | €1.9m | €2.0m | ▲ 4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €207,785 | €187,230 | €397,710 | €113,338 | €102,861 | ▼ 9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€31,659 | -€2,142 | -€162,697 | -€37,232 | ▲ 77.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€138,593 | -€264,731 | -€33,630 | - | - |
| Other operating charges640/8 | - | €5,511 | €54,142 | €184,438 | €34,954 | ▼ 81.0% |
| Operating profit (loss)9901 | €5.1m | €5.0m | €5.4m | €6.5m | €7.0m | ▲ 8.6% |
| Financial income75/76B | - | €368,561 | €707,494 | €896,931 | €632,172 | ▼ 29.5% |
| Recurring financial income75 | €391,676 | €368,561 | €707,494 | €896,931 | €632,172 | ▼ 29.5% |
| Income from current assets751 | - | €349,464 | €707,494 | €896,555 | €632,172 | ▼ 29.5% |
| Other financial income752/9 | - | €19,097 | €0 | €376 | €0 | ▼ 100% |
| Financial charges65/66B | - | €51,390 | €35,961 | €33,632 | €35,351 | ▲ 5.1% |
| Recurring financial charges65 | €3,349 | €51,390 | €35,961 | €33,632 | €35,351 | ▲ 5.1% |
| Debt charges650 | - | €19,223 | €24,049 | €16,478 | €19,157 | ▲ 16.3% |
| Other financial charges652/9 | - | €32,167 | €11,911 | €17,154 | €16,194 | ▼ 5.6% |
| Profit (loss) for the period before taxes9903 | €5.4m | €5.3m | €6.1m | €7.4m | €7.6m | ▲ 4.0% |
| Income taxes67/77 | €1.3m | €1.4m | €1.5m | €1.9m | €1.9m | ▲ 3.3% |
| Taxes670/3 | - | €1.4m | €1.5m | €1.9m | €1.9m | ▲ 3.7% |
| Tax adjustments and reversals of tax provisions77 | - | €0 | €6,193 | €0 | €7,169 | - |
| Profit (loss) for the period9904 | €4.2m | €3.9m | €4.5m | €5.5m | €5.7m | ▲ 4.2% |
| Profit (loss) for the period to be appropriated9905 | €4.2m | €3.9m | €4.5m | €5.5m | €5.7m | ▲ 4.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €40.6m | €14.9m | €19.4m | €17.6m | €17.6m | = |
| Fixed assets21/28 | €787,679 | €613,909 | €224,155 | €111,257 | €9,444 | ▼ 91.5% |
| Intangible fixed assets21 | €411,443 | €308,582 | €205,721 | €102,861 | - | - |
| Tangible fixed assets22/27 | €376,236 | €305,327 | €10,478 | €0 | €0 | - |
| Furniture and vehicles24 | - | €975 | €0 | - | €0 | - |
| Other tangible fixed assets26 | - | €304,353 | €10,478 | €0 | - | - |
| Financial fixed assets28 | - | - | €7,956 | €8,396 | €9,444 | ▲ 12.5% |
| Other financial fixed assets284/8 | - | - | €7,956 | €8,396 | €9,444 | ▲ 12.5% |
| Amounts receivable and cash guarantees285/8 | - | - | €7,956 | €8,396 | €9,444 | ▲ 12.5% |
| Current assets29/58 | €39.8m | €14.3m | €19.2m | €17.5m | €17.6m | ▲ 0.6% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | - | - |
| Amounts receivable within one year40/41 | €39.8m | €14.2m | €19.1m | €17.4m | €17.3m | ▼ 0.6% |
| Trade receivables40 | - | €1.8m | €1.9m | €2.4m | €2.8m | ▲ 19.0% |
| Other amounts receivable41 | - | €12.4m | €17.2m | €15.0m | €14.5m | ▼ 3.7% |
| Cash at bank and in hand54/58 | €0 | - | €3,815 | €0 | €252,935 | - |
| Deferred charges and accrued income490/1 | - | €55,019 | €38,555 | €58,208 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €40.6m | €14.9m | €19.4m | €17.6m | €17.6m | = |
| Equity10/15 | €4.8m | €8.7m | €5.2m | €4.9m | €5.1m | ▲ 4.3% |
| Contributions10/11 | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Capital10 | - | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Issued capital100 | - | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Reserves13 | €424,118 | €424,118 | €424,118 | €424,118 | €424,118 | = |
| Non-distributable reserves130/1 | - | €405,206 | €405,206 | €405,206 | €405,206 | = |
| Legal reserve130 | - | €405,206 | €405,206 | €405,206 | €405,206 | = |
| Tax-exempt reserves132 | - | €18,911 | €18,911 | €18,911 | €18,911 | = |
| Profit (loss) carried forward14 | €299,094 | €4.2m | €729,205 | €407,077 | €615,024 | ▲ 51.1% |
| Provisions and deferred taxes16 | €436,954 | €298,361 | €33,630 | €0 | €0 | - |
| Provisions for liabilities and charges160/5 | - | €298,361 | €33,630 | €0 | €0 | - |
| Other liabilities and charges164/5 | - | €298,361 | €33,630 | €0 | €0 | - |
| Amounts payable17/49 | €35.4m | €5.9m | €14.2m | €12.7m | €12.5m | ▼ 1.7% |
| Amounts payable within one year42/48 | €31.1m | €1.3m | €9.3m | €7.3m | €6.8m | ▼ 6.8% |
| Trade debts44 | €6.8m | €934,563 | €789,158 | €782,654 | €910,579 | ▲ 16.3% |
| Suppliers440/4 | - | €934,563 | €789,158 | €782,654 | €910,579 | ▲ 16.3% |
| Taxes, remuneration and social security45 | - | €337,214 | €491,955 | €742,800 | €420,379 | ▼ 43.4% |
| Taxes450/3 | - | €133,181 | €164,866 | €393,715 | €106,521 | ▼ 72.9% |
| Remuneration and social security454/9 | - | €204,033 | €327,089 | €349,085 | €313,858 | ▼ 10.1% |
| Other amounts payable47/48 | - | €0 | €8.0m | €5.8m | €5.5m | ▼ 5.2% |
| Accrued charges and deferred income492/3 | - | €4.7m | €4.9m | €5.4m | €5.7m | ▲ 5.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4.2m | €3.9m | €4.5m | €5.5m | €5.7m | ▲ 4.2% |
| + Depreciation and write-downs630 | €207,785 | €187,230 | €397,710 | €113,338 | €102,861 | ▼ 9.2% |
| Operating cash flow (approximation) | €4.4m | €4.1m | €4.9m | €5.6m | €5.8m | ▲ 3.9% |
| Investment in fixed assets (approximation) | - | -€13,460 | -€7,956 | -€440 | -€1,048 | ▼ 138% |
| Change in cash | - | - | - | -€3,815 | €252,935 | ▲ 6,730% |
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
25-08
State Gazette act
Resignation: Denidet Loïc (day-to-day manager)2 facts ▸
State Gazette act
Resignation: Denidet Loïc (day-to-day manager)
2 facts ▸
- Board meeting, résolution écrite unanime, conseil d'administration
- Director resignation, Denidet Loïc (day-to-day manager)
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-09
Financial
Highest result since 2018net €5.7m ▲4.2%
Operating result €7.0m, net result €5.7m, both a record.
30-09
Financial
Equity above €5mEq €5.1m ▲4.3%
8 profitable years in a row build equity to €5.1m.
13-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
10-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
06-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-09
Financial
Liquidity times 9current ratio 11.24
Current ratio from 1.28 to 11.24; short-term debt falls from €31.1m to €1.3m.
30-09
Financial
Equity above €5mEq €8.7m ▲81.9%
5 profitable years in a row build equity to €8.7m.
01-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
30-09
Financial
Liquidity doublescurrent ratio 21.66
Current ratio from 9.62 to 21.66; short-term debt falls from €2.8m to €1.4m.
Show earlier events
28-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
26-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 37 acts read
About the unread acts
Of the 37 Belgian State Gazette acts we know for this company, 1 has been read. The other 36 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
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.
Not every act has been read: a resignation may be missing here
36 of this company's 37 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 1979
Ground area
4.4 ha
Building footprint
3.9 ha
Volume, LiDAR
615,702 m³
Parcel 21814P0441/00B000, Brussels · tallest building 34.0 m, ±6 floors. Linked by address, not a title deed.
235
companies at this address
See who is registered here
1 establishment unit
Sage
since 19792.016.514.588
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21814P0441/00B000 | Brussels | 4.4 ha | 1 · 3.9 ha | 34.0 m · 6 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.
Mandate history
1 person since 2026, 0 in office
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Loic Denidet |
|
Structure & network
Owners and holdings
2 ownersChain of control
- SAGE SASFR
- SAGE
Highest known parent: SAGE SAS (France). The sources do not say who stands above it.
Owners 2
- SAGE SASFRparentSourceown accounts 30-09-202299.99%
- Sage Holding France SASFRSourceown accounts 30-09-20220.01%
Holdings 0
The accounts to 30-09-2022 list no holdings, and no other source names one.
According to the annual accounts to 30-09-2022 of SAGE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded08-08-1979
Fiscal year end30-09
Activities, NACEBEL 2025
62100Computer programming
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0419618535
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.