Checked.be
Active
BE 0462.649.220Private limited company
SANDE
Boniverlei 189 ·2650 Edegem, Belgium· 28 yrs active
Sector: Hairdressing and barber services
(96210)
Conclusion
SANDE has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €93k and a net result of €-5k. Equity is shrinking by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 90% of 4350 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €93k |
| Net result | €-5k |
| Staff (FTE) | 2.5 |
| Better than sector | 90% |
Financial profile
58
/ 100
Mixed profile: strong on solvency, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
60
Profitability
0
Solvency
100
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1998, 28 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
60
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€6k
estimate, not credit advice
Score history
93
2021
70
2022
70
2023
52
2024
60
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 5.44 (≥ 1.5)
+10
Quick ratio
Quick ratio 5.44 (≥ 1.0)
+5
Leverage
Debt/equity 0.22 (< 1.0)
+10
Profitability
Negatieve ROE -6%
-10
Interest coverage
Interest coverage -5.1× (< 1.5×)
-10
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 27-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~5.3%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 96, Personal service activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 81.7% | 28.3% | |
| Net result | €-5k | €3k | |
| Equity | €93k | €17k | |
| Gross operating margin | €127k | €28k | |
| Staff costs | €125k | €43k |
€-2k
-171.9%
21-25
€-5k
+33.5%
21-25
€-2k
-145.7%
21-25
€113k
-3.0%
21-25
€93k
-5.4%
21-25
€92k
+21.1%
21-25
3
-10.7%
21-25
€125k
-4.6%
21-25
€231
-3.6%
21-25
€21k
+9.0%
21-25
€21k
+9.0%
21-25
5.44
+8.8%
21-25
5.44
+22.9%
21-25
81.7%
-2.4%
21-25
0.22
+15.2%
21-25
-5.7%
+29.7%
21-25
-4.6%
+31.4%
21-25
-5.12
+30.2%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €-2k | €-775 | €2k | €4k | €34k |
| Net profit | €-5k | €-8k | €-5k | €-4k | €15k |
| Cash flow | €-2k | €-788 | €2k | €4k | €30k |
| Staff costs | €125k | €131k | €128k | €96k | €66k |
| Income taxes | €231 | €240 | €182 | €288 | €4k |
| Dividends | - | - | - | - | - |
| Total assets | €113k | €117k | €126k | €133k | €139k |
| Equity | €93k | €98k | €106k | €111k | €115k |
| Debt | €21k | €19k | €21k | €22k | €24k |
| of which ≤ 1y | €21k | €19k | €15k | €22k | €24k |
| of which > 1y | - | - | - | - | - |
| Working capital | €92k | €76k | €83k | €79k | €79k |
| Employees (FTE) | 2.5 | 2.8 | 2.6 | 2.3 | 2.8 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 5.44 | 5.00 | 6.64 | 4.66 | 4.25 |
| Quick ratio | 5.44 | 4.43 | 5.79 | 4.10 | 3.80 |
| Working capital ratio | 81.4% | 65.2% | 65.5% | 59.8% | 56.4% |
| Solvency | 81.7% | 83.7% | 83.5% | 83.6% | 82.7% |
| Debt / equity | 0.22 | 0.19 | 0.20 | 0.20 | 0.21 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | -5.12 | -7.34 | 14.54 | 51.88 | 163.15 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -4.6% | -6.7% | -4.1% | -3.1% | 11.0% |
| ROE | -5.7% | -8.0% | -4.9% | -3.7% | 13.2% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €113k | €117k | €126k | €133k | €139k |
| Fixed assets | 21/28 | €281 | €22k | €29k | €32k | €36k |
| Tangible fixed assets | 22/27 | - | €16k | €23k | €26k | €31k |
| Financial fixed assets | 28 | €281 | €5k | €6k | €6k | €6k |
| Current assets | 29/58 | €113k | €95k | €98k | €101k | €103k |
| Stocks & contracts in progress | 3 | - | €11k | €13k | €12k | €11k |
| Amounts receivable within one year | 40/41 | €66k | €41k | €45k | €39k | €30k |
| Cash & bank | 54/58 | €47k | €41k | €37k | €45k | €58k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €113k | €117k | €126k | €133k | €139k |
| Equity | 10/15 | €93k | €98k | €106k | €111k | €115k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Reserves | 13 | €80k | €85k | €93k | €98k | €103k |
| Amounts payable | 17/49 | €21k | €19k | €21k | €22k | €24k |
| Amounts payable within one year | 42/48 | €21k | €19k | €15k | €22k | €24k |
| Trade debts payable within one year | 44 | €6k | €7k | €4k | €10k | €7k |
| Income statement | ||||||
| Gross operating margin | 9900 | €127k | €132k | €132k | €103k | €101k |
| Operating result | 9901 | €-5k | €-8k | €-5k | €-4k | €19k |
| Financial income | 75 | €817 | €333 | €0 | €0 | €313 |
| Financial charges | 65 | €412 | €106 | €166 | €85 | €208 |
| Result before taxes | 9903 | €-5k | €-8k | €-5k | €-4k | €19k |
| Income taxes | 67/77 | €231 | €240 | €182 | €288 | €4k |
| Net result for the period | 9904 | €-5k | €-8k | €-5k | €-4k | €15k |
| Result to be appropriated | 9905 | €-5k | €-8k | €-5k | €-4k | €23k |
Legal Structure
| NACE primary | Hairdressing and barber services(96210) |
| Legal form | Private limited company(610) |
| Incorporation | 12-02-1998 |
| Status | Active |
| Postal code | 2650 |
Establishment units
KAP EN SFEER
since 19982.086.417.045
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11472B0112/00X000 | Flanders | 850 m² | 1 · 149 m² | 10.7 m · 1 fl. |
| 11051B0366/00T003 | Flanders | 485 m² | 1 · 59 m² | 17.1 m · 5 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 13 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
93021Hairdressing96021Hairdressing and barber services96210
Names & trade names
| Legal nameNL | SANDE |
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