Sametal
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 29-04-2026 PDF all 48 filings
Turnover
€6.3m
EBIT margin
0.7%
Net result
-€1.5m▼ 228%
2024 · -€470,189
Working capital
-€382,048▼ 130%
2024 · -€165,971
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
no figure
2025
20192025
Operating result
-€1.5m
▼ 252%
2025
20192025
Net result
-€1.5m
▼ 228%
2025
lowest quarter of the sector
20192025
EBIT margin
no figure
2025
20192025
Equity
-€1.1m
2025
lowest quarter of the sector
20192025
Total assets
€1.1m
▼ 51.9%
2025
lowest quarter of the sector
20192025
Debt
€2.1m
▲ 19.4%
2025
20192025
Working capital
-€382,048
▼ 130%
2025
lowest quarter of the sector
20192025
Solvency
-107.0%
▼ 125.5pp
2025
lowest quarter of the sector
20192025
Current ratio
0.55
▼ 0.35
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-145.4%
▼ 124.0pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
6
▲ 13.2%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€6.3m-
Operating result€0.04m--€0.01m€0.6m€0.6m▲ 14.0%-€0.1m-€0.4m▼ 247%-€1.5m▼ 252%
Net result€0.02m--€0.01mbelow the sector's middle half€0.5mwithin the sector's middle half€0.6mwithin the sector's middle half▲ 14.9%-€0.1mbelow the sector's middle half-€0.5mbelow the sector's middle half▼ 224%-€1.5mbelow the sector's middle half▼ 228%
EBIT margin0.7%-
Equity€0.08m-€0.06mbelow the sector's middle half▼ 21.4%€0.5mwithin the sector's middle half▲ 740%€1.0mwithin the sector's middle half▲ 104%€0.9mwithin the sector's middle half▼ 14.2%€0.4mwithin the sector's middle half▼ 53.6%-€1.1mbelow the sector's middle half
Total assets€1.9m-€2.1mwithin the sector's middle half▲ 11.5%€2.1mwithin the sector's middle half▼ 1.2%€2.2mwithin the sector's middle half▲ 5.1%€2.1mwithin the sector's middle half▼ 3.1%€2.2mwithin the sector's middle half▲ 2.5%€1.1mbelow the sector's middle half▼ 51.9%
Debt€1.8m-€2.1m▲ 12.9%€1.6m▼ 22.5%€1.2m▼ 25.7%€1.3m▲ 6.4%€1.8m▲ 41.1%€2.1m▲ 19.4%
Working capital-€0.4m--€0.5mbelow the sector's middle half▼ 19.0%€0.003mbelow the sector's middle half€0.6mwithin the sector's middle half▲ 192×€0.4mwithin the sector's middle half▼ 34.3%-€0.2mbelow the sector's middle half-€0.4mbelow the sector's middle half▼ 130%
Solvency4.0%-2.8%below the sector's middle half▼ 1.2pp23.7%within the sector's middle half▲ 20.9pp46.1%within the sector's middle half▲ 22.4pp40.8%within the sector's middle half▼ 5.3pp18.5%below the sector's middle half▼ 22.3pp-107.0%below the sector's middle half▼ 125.5pp
Current ratio0.76-0.75below the sector's middle half▼ 0.011.00below the sector's middle half▲ 0.251.54within the sector's middle half▲ 0.541.32within the sector's middle half▼ 0.220.90below the sector's middle half▼ 0.420.55below the sector's middle half▼ 0.35
Return on assets (ROA)1.1%--0.7%below the sector's middle half▼ 1.7pp25.6%above the sector's middle half▲ 26.3pp28.0%above the sector's middle half▲ 2.4pp-6.7%below the sector's middle half▼ 34.8pp-21.4%below the sector's middle half▼ 14.6pp-145.4%below the sector's middle half▼ 124.0pp
Staff (FTE)8.9-7.4within the sector's middle half▼ 16.9%8within the sector's middle half▲ 8.1%6within the sector's middle half▼ 25.0%6.2within the sector's middle half▲ 3.3%5.3within the sector's middle half▼ 14.5%6within the sector's middle half▲ 13.2%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €1.5m, larger than the loss of €435,986 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€586,848 ▼ 15.4%
Current assets
€472,444 ▼ 68.7%
Equity and liabilities
Equity-€1.1m
Debt€2.1m
Equity is negative. Debt (€2.1m) exceeds the balance-sheet total (€1.1m).
Key figures and ratios
EBITDA
-€1.4m▼
2024 · -€248,661
Cash flow
-€1.4m▼
2024 · -€282,864
Quick ratio
0.11▼
2024 · 0.21
Interest coverage
-454.27▼
2024 · -5.63
Debt ≤ 1 year
€854,492▼
2024 · €1.7m
Debt > 1 year
€1.3m▲
2024 · €45,840
Income taxes
€0▼
2024 · €40
Staff costs
€430,612▲
2024 · €310,320
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 5 | 6 | 6 |
| full-time | 6 | 5 | 6 | 6 |
| part-time | - | 0 | 0 | 0 |
| in full-time equivalents | 6 | 5 | 6 | 6 |
| Average over the year, in full-time equivalents | 6 | 6.2 | 5.3 | 6 |
| On a permanent contract | 6 | 5 | 6 | 6 |
| Joined | 4 | 3 | 2 | 4 |
| Left | 6 | 4 | 1 | 4 |
| Training hours | 75 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | €129,890 | €84,463 | - |
| Debts guaranteed by Belgian public bodies | - | - | - | €45,840 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €200,588 | €172,948 | €257,932 | €50,577 |
| Intangible fixed assets | - | €2,660 | - | €24,064 |
| Financial fixed assets | €400 | €2,515 | €200 | €3,600 |
| Depreciation and write-downs of the year | €151,933 | €159,313 | €187,325 | €184,828 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €6.3m | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €125 | €1 | €185 | €0.08m | ▲ 407× |
| Remuneration, social security and pensions62 | - | - | - | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.001m | €0.1m | ▲ 80× |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | €0.05m | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.01m | €0.07m | ▲ 380% |
| Non-recurring operating charges66A | - | - | - | €0.02m | €0.04m | €0.01m | €0.9m | ▲ 61× |
| Gross operating margin9900 | - | €0.5m | €1.1m | €1.2m | €0.4m | €0.09m | €0.2m | ▲ 98.1% |
| Operating profit (loss)9901 | €0.04m | -€0.01m | €0.6m | €0.6m | -€0.1m | -€0.4m | -€1.5m | ▼ 252% |
| Financial income75/76B | - | - | - | - | - | €0.01m | €0 | ▼ 100% |
| Recurring financial income75 | €0.002m | €0.01m | - | - | - | €0.01m | €0 | ▼ 100% |
| Non-recurring financial income76B | - | - | - | - | - | €0.01m | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.01m | €0.02m | €0.05m | €0.005m | ▼ 89.5% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.01m | €0.009m | €0.02m | €0.04m | €0.003m | ▼ 93.3% |
| Debt charges650 | €0.02m | - | - | - | - | - | - | - |
| Non-recurring financial charges66B | - | - | - | €0.002m | €67 | €0.004m | €0.002m | ▼ 47.1% |
| Profit (loss) for the period before taxes9903 | €0.02m | -€0.02m | €0.5m | €0.6m | -€0.1m | -€0.5m | -€1.5m | ▼ 228% |
| Income taxes67/77 | €208 | €91 | €50 | €213 | €158 | €40 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €0.02m | -€0.01m | €0.5m | €0.6m | -€0.1m | -€0.5m | -€1.5m | ▼ 228% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | -€0.01m | €0.5m | €0.6m | -€0.1m | -€0.5m | -€1.5m | ▼ 228% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.9m | €2.1m | €2.1m | €2.2m | €2.1m | €2.2m | €1.1m | ▼ 51.9% |
| Fixed assets21/28 | €0.6m | €0.7m | €0.6m | €0.6m | €0.6m | €0.7m | €0.6m | ▼ 15.4% |
| Intangible fixed assets21 | €0.003m | €0.002m | €0.001m | €400 | €0.003m | €0.002m | €0.02m | ▲ 953% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.7m | €0.5m | ▼ 20.0% |
| Land and buildings22 | - | - | - | €0.01m | €0.007m | €0.003m | €271 | ▼ 92.0% |
| Plant, machinery and equipment23 | - | - | - | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 16.7% |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.09m | €0.2m | €0.1m | ▼ 27.5% |
| Leasing and similar rights25 | - | - | - | €0.2m | €0.2m | €0.1m | €0.08m | ▼ 18.8% |
| Financial fixed assets28 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 9.9% |
| Current assets29/58 | €1.3m | €1.5m | €1.5m | €1.6m | €1.5m | €1.5m | €0.5m | ▼ 68.7% |
| Stocks and contracts in progress3 | €0.7m | €0.8m | €1.0m | €1.0m | €0.8m | €1.2m | €0.4m | ▼ 67.2% |
| Stocks30/36 | - | - | - | €1.0m | €0.8m | €1.2m | €0.4m | ▼ 67.2% |
| Amounts receivable within one year40/41 | €0.5m | €0.6m | €0.4m | €0.4m | €0.4m | €0.3m | €0.08m | ▼ 76.8% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.3m | €0.07m | ▼ 75.2% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.05m | €0.06m | €0.009m | ▼ 84.5% |
| Cash at bank and in hand54/58 | €0.1m | €0.08m | €0.09m | €0.1m | €0.3m | €0.002m | €0.003m | ▲ 33.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 9.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.9m | €2.1m | €2.1m | €2.2m | €2.1m | €2.2m | €1.1m | ▼ 51.9% |
| Equity10/15 | €0.08m | €0.06m | €0.5m | €1.0m | €0.9m | €0.4m | -€1.1m | - |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.3m | €0.8m | €0.8m | €0.3m | €0.01m | ▼ 96.2% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.3m | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€0.04m | -€0.05m | €0.09m | €0.1m | €0.02m | €0.05m | -€1.2m | - |
| Provisions and deferred taxes16 | €0.001m | - | - | - | - | - | €0.05m | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | €0.05m | - |
| Environmental obligations163 | - | - | - | - | - | - | €0.05m | - |
| Amounts payable17/49 | €1.8m | €2.1m | €1.6m | €1.2m | €1.3m | €1.8m | €2.1m | ▲ 19.4% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.07m | €0.1m | €0.08m | €0.05m | €1.3m | ▲ 28× |
| Financial debts170/4 | - | - | - | €0.1m | €0.08m | €0.05m | €0.009m | ▼ 79.5% |
| Other amounts payable178/9 | - | - | - | - | - | - | €1.3m | - |
| Amounts payable within one year42/48 | €1.7m | €2.0m | €1.5m | €1.0m | €1.2m | €1.7m | €0.9m | ▼ 49.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.05m | €0.04m | €0.04m | ▼ 5.7% |
| Financial debts43 | - | - | - | €0.001m | €0 | - | - | - |
| Other loans439 | - | - | - | €0.001m | €0 | - | - | - |
| Trade debts44 | €0.4m | €1.0m | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 0.1% |
| Suppliers440/4 | - | - | - | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 0.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.07m | €0.04m | €0.06m | ▲ 66.9% |
| Taxes450/3 | - | - | - | €0.002m | €0.009m | €0 | - | - |
| Remuneration and social security454/9 | - | - | - | €0.08m | €0.06m | €0.04m | €0.06m | ▲ 66.9% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.6m | €1.1m | €0.2m | ▼ 78.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.02m | €0.03m | €0.08m | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | -€0.01m | €0.5m | €0.6m | -€0.1m | -€0.5m | -€1.5m | ▼ 228% |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.3% |
| Operating cash flow (approximation) | €0.2m | €0.1m | €0.7m | €0.8m | €0.01m | -€0.3m | -€1.4m | ▼ 379% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€0.07m | -€0.2m | -€0.2m | -€0.3m | -€0.08m | ▲ 69.7% |
| Change in cash | - | -€0.02m | €0.009m | €0.05m | €0.1m | -€0.3m | €0.001m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as Sametal has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Sametal itself is higher: 7.1% within 12 months. It rests on far more data about Sametal than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,619 companies, not a prediction for Sametal. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 29-04-2026 | 2026-00097469 | |
| 30-09-2024 | full format | 18-03-2025 | 2025-00051979 | |
| 30-09-2023 | full format | 23-04-2024 | 2024-00068292 | |
| 30-09-2022 | full format | 28-04-2023 | 2023-00078656 | |
| 30-09-2021 | full format | 11-03-2022 | 2022-07600116 | |
| 30-09-2020 | full format | 26-03-2021 | 2021-08700331 | |
| 30-09-2019 | full format | 15-04-2020 | 2020-09300066 | |
| 30-09-2018 | full format | 29-04-2019 | 2019-11400151 | |
| 30-09-2017 | full format | 05-04-2018 | 2018-09300540 | |
| 30-09-2016 | full format | 19-05-2017 | 2017-12800558 |