SAGEX
ActiveSummary
SAGEX has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €141,938 and a net result of €14,446. Equity is growing by ~6% per year across the filed fiscal years. Its solvency ranks better than 75% of 4579 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+29
Solvency90▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 3.16 against 3.42 in 2024; short-term debt: 29.9% and cash: 3.7% of total assets), and 35.3% of the assets are financed with debt.
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Signals
Three 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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% 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
64.7%
Return on assets
6.6%
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 09-07-2026, 22 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
22 d early
2024
15 d early
2023
33 d early
2022
33 d early
2021
54 d early
2020
45 d early
2019
16 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 31 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
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. Usually files around 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€141,938▲ 11.4%
2024 · €127,372
Total assets
€219,329▲ 17.5%
2024 · €186,621
Net result
€14,446▼ 33.6%
2024 · €21,754
Working capital
€141,640▲ 12.5%
2024 · €125,897
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape 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€16,623▼ 66.2%€38,289▲ 130%€6,505▼ 83.0%€85,572▲ 1,216%€26,442▼ 69.1%
Net result€5,502within the sector's middle half▼ 75.3%-€8,303below the sector's middle half-€925below the sector's middle half▲ 88.9%€21,754within the sector's middle half€14,446within the sector's middle half▼ 33.6%
Equity€114,846above the sector's middle half▲ 5.0%€106,543within the sector's middle half▼ 7.2%€105,618within the sector's middle half▼ 0.9%€127,372above the sector's middle half▲ 20.6%€141,938above the sector's middle half▲ 11.4%
Total assets€265,421within the sector's middle half▼ 6.3%€211,347within the sector's middle half▼ 20.4%€164,708within the sector's middle half▼ 22.1%€186,621within the sector's middle half▲ 13.3%€219,329within the sector's middle half▲ 17.5%
Debt€150,575▼ 13.5%€104,804▼ 30.4%€59,090▼ 43.6%€59,249▲ 0.3%€77,390▲ 30.6%
Working capital€146,357above the sector's middle half▲ 0.8%€131,187above the sector's middle half▼ 10.4%€109,375above the sector's middle half▼ 16.6%€125,897above the sector's middle half▲ 15.1%€141,640above the sector's middle half▲ 12.5%
Solvency43.3%within the sector's middle half▲ 4.7pp50.4%within the sector's middle half▲ 7.1pp64.1%within the sector's middle half▲ 13.7pp68.3%above the sector's middle half▲ 4.1pp64.7%above the sector's middle half▼ 3.5pp
Current ratio2.72within the sector's middle half▼ 0.132.89above the sector's middle half▲ 0.163.39above the sector's middle half▲ 0.513.42above the sector's middle half▲ 0.023.16above the sector's middle half▼ 0.26
Return on assets (ROA)2.1%within the sector's middle half▼ 5.8pp-3.9%below the sector's middle half▼ 6.0pp-0.6%below the sector's middle half▲ 3.4pp11.7%within the sector's middle half▲ 12.2pp6.6%within the sector's middle half▼ 5.1pp
Staff (FTE)22=1▼ 50.0%1=
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 69% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €219,329
Fixed assets
€12,006 ▲ 38.9%
Current assets
€207,323 ▲ 16.5%
Equity and liabilities €219,329
Equity
€141,938 ▲ 11.4%
Debt
€77,390 ▲ 30.6%
Debt's share of the balance-sheet total rises from 31.7% to 35.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29,125▼
2024 · €90,490
Cash flow
€17,129▼
2024 · €26,672
Debt to equity
0.55▲
2024 · 0.47
ROE
10.2%▼
2024 · 17.1%
Interest coverage
23.54▲
2024 · 1.78
Debt ≤ 1 year
€65,682▲
2024 · €52,080
Income taxes
€10,759▼
2024 · €13,074
Staff costs
€25,205▲
2024 · €16,252
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €18,799 | €36,786 | €29,159 | €16,252 | €25,205 | ▲ 55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,763 | €28,702 | €6,849 | €4,918 | €2,683 | ▼ 45.4% |
| Other operating charges640/8 | €6,721 | €6,058 | €4,323 | €3,492 | €3,566 | ▲ 2.1% |
| Gross operating margin9900 | €70,906 | €109,834 | €46,836 | €110,234 | €57,896 | ▼ 47.5% |
| Operating profit (loss)9901 | €16,623 | €38,289 | €6,505 | €85,572 | €26,442 | ▼ 69.1% |
| Financial income75/76B | €7 | €1 | - | - | €0 | - |
| Recurring financial income75 | €7 | €1 | - | - | €0 | - |
| Financial charges65/66B | €7,425 | €45,705 | €3,965 | €50,743 | €1,237 | ▼ 97.6% |
| Recurring financial charges65 | €7,425 | €45,705 | €3,965 | €50,743 | €1,237 | ▼ 97.6% |
| Profit (loss) for the period before taxes9903 | €9,204 | -€7,415 | €2,540 | €34,829 | €25,205 | ▼ 27.6% |
| Income taxes67/77 | €3,703 | €888 | €3,465 | €13,074 | €10,759 | ▼ 17.7% |
| Profit (loss) for the period9904 | €5,502 | -€8,303 | -€925 | €21,754 | €14,446 | ▼ 33.6% |
| Profit (loss) for the period to be appropriated9905 | €5,502 | -€8,303 | -€925 | €21,754 | €14,446 | ▼ 33.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €265,421 | €211,347 | €164,708 | €186,621 | €219,329 | ▲ 17.5% |
| Fixed assets21/28 | €34,194 | €10,585 | €9,657 | €8,644 | €12,006 | ▲ 38.9% |
| Tangible fixed assets22/27 | €28,194 | €4,585 | €3,657 | €2,644 | €3,106 | ▲ 17.5% |
| Plant, machinery and equipment23 | €533 | €266 | €0 | - | - | - |
| Furniture and vehicles24 | €4,900 | €4,319 | €3,656 | €2,644 | €3,106 | ▲ 17.5% |
| Leasing and similar rights25 | €22,761 | - | - | - | - | - |
| Financial fixed assets28 | €6,000 | €6,000 | €6,000 | €6,000 | €8,900 | ▲ 48.3% |
| Current assets29/58 | €231,227 | €200,762 | €155,052 | €177,977 | €207,323 | ▲ 16.5% |
| Amounts receivable within one year40/41 | €191,925 | €180,187 | €146,076 | €151,992 | €199,174 | ▲ 31.0% |
| Trade receivables40 | €169,527 | €159,363 | €123,054 | €117,208 | €188,533 | ▲ 60.9% |
| Other amounts receivable41 | €22,398 | €20,824 | €23,022 | €34,784 | €10,641 | ▼ 69.4% |
| Cash at bank and in hand54/58 | €28,941 | €10,887 | €1,285 | €25,732 | €8,149 | ▼ 68.3% |
| Deferred charges and accrued income490/1 | €10,361 | €9,688 | €7,691 | €253 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €265,421 | €211,347 | €164,708 | €186,621 | €219,329 | ▲ 17.5% |
| Equity10/15 | €114,846 | €106,543 | €105,618 | €127,372 | €141,938 | ▲ 11.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €12,400 | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Other1319 | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €106,786 | €98,483 | €97,558 | €119,312 | €133,878 | ▲ 12.2% |
| Amounts payable17/49 | €150,575 | €104,804 | €59,090 | €59,249 | €77,390 | ▲ 30.6% |
| Amounts payable after more than one year17 | €65,705 | €35,229 | €13,414 | - | - | - |
| Financial debts170/4 | €65,705 | €35,229 | €13,414 | - | - | - |
| Amounts payable within one year42/48 | €84,871 | €69,575 | €45,677 | €52,080 | €65,682 | ▲ 26.1% |
| Current portion of amounts payable after more than one year42 | €29,228 | €31,211 | €21,906 | €13,405 | €4,177 | ▼ 68.8% |
| Trade debts44 | €34,187 | €28,639 | €12,451 | €18,231 | €45,306 | ▲ 149% |
| Suppliers440/4 | €34,187 | €28,639 | €12,451 | €18,231 | €45,306 | ▲ 149% |
| Taxes, remuneration and social security45 | €21,143 | €9,412 | €11,007 | €20,131 | €12,959 | ▼ 35.6% |
| Taxes450/3 | €21,143 | €888 | €4,353 | €13,352 | €6,036 | ▼ 54.8% |
| Remuneration and social security454/9 | - | €8,524 | €6,654 | €6,779 | €6,923 | ▲ 2.1% |
| Other amounts payable47/48 | €313 | €313 | €313 | €313 | €3,240 | ▲ 934% |
| Accrued charges and deferred income492/3 | - | - | - | €7,169 | €11,708 | ▲ 63.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,502 | -€8,303 | -€925 | €21,754 | €14,446 | ▼ 33.6% |
| + Depreciation and write-downs630 | €28,763 | €28,702 | €6,849 | €4,918 | €2,683 | ▼ 45.4% |
| Operating cash flow (approximation) | €34,265 | €20,399 | €5,924 | €26,672 | €17,129 | ▼ 35.8% |
| Investment in fixed assets (approximation) | - | -€5,093 | -€5,920 | -€3,905 | -€6,045 | ▼ 54.8% |
| Change in cash | - | -€18,054 | -€9,601 | €24,447 | -€17,583 | ▼ 172% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €21,754
Net result €21,754 after 2 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€8,303
Net result drops to -€8,303, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €22,307
Net result €22,307 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €109,344 ▲25.6%
Equity rises from €87,037 to €109,344.
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Halle · 1 establishment unit since 2016
Ground area
1,093 m²
Building footprint
165 m²
Volume, LiDAR
744 m³
Parcel 23412I0273/00R002, Flanders · tallest building 11.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
SAGEX
since 20162.256.237.618
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23412I0273/00R002 | Flanders | 1,093 m² | 1 · 165 m² | 11.4 m · 1 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.
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Of 6,996 companies in sector 81220 we hold annual accounts for 2,414. 1,935 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
Founded17-08-2016
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
81220Other building cleaning and industrial cleaning
43221Plumbing work
43240Other construction installation
43320Joinery installation
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0660957604
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.