SANDEC
ActiveSummary
SANDEC has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €733,989 and a net result of -€5,510. Equity is growing by ~7.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability37▲+1
Solvency70▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity short (current ratio 0.0 against 0.01 in 2023; short-term debt: 23.6% and cash: 0% of total assets), and 54.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
45.4%
Return on assets
-0.3%
Age of the figures
22 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2024 was due by 30-06-2025 and was filed on 20-03-2025, 102 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
102 d early
2023
9 d late
2022
11 d late
2021
13 d late
2020
on the day
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 4 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€733,989▼ 0.7%
2023 · €739,498
Total assets
€1.6m▼ 0.2%
2023 · €1.6m
Net result
-€5,510▲ 31.8%
2023 · -€8,085
Working capital
-€381,011▼ 1.5%
2023 · -€375,502
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€81,895€75,233▼ 8.1%€32,159▼ 57.3%-€8,103-€5,486▲ 32.3%
Net result€74,386€73,960▼ 0.6%€31,913▼ 56.9%-€8,085-€5,510▲ 31.8%
Equity€641,710▲ 13.1%€715,670▲ 11.5%€747,583▲ 4.5%€739,498▼ 1.1%€733,989▼ 0.7%
Total assets€3.1m▲ 59.7%€3.4m▲ 11.7%€2.1m▼ 38.3%€1.6m▼ 23.4%€1.6m▼ 0.2%
Debt€2.4m▲ 79.3%€2.7m▲ 11.7%€1.4m▼ 49.6%€878,303▼ 35.6%€881,279▲ 0.3%
Working capital-€473,290▲ 13.6%-€399,330▲ 15.6%-€367,417▲ 8.0%-€375,502▼ 2.2%-€381,011▼ 1.5%
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 stays negative: a loss of €5,486 in 2024 against €8,103 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.6m =
Current assets
€268 ▼ 90.4%
Equity and liabilities €1.6m
Equity
€733,989 ▼ 0.7%
Debt
€881,279 ▲ 0.3%
Debt's share of the balance-sheet total rises from 54.3% to 54.6%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.00▼
2023 · 0.01
Debt to equity
1.20▲
2023 · 1.19
ROE
-0.8%▲
2023 · -1.1%
ROA
-0.3%▲
2023 · -0.5%
Debt ≤ 1 year
€381,279▲
2023 · €378,303
Debt > 1 year
€500,000=
2023 · €500,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €1,116 | €990 | €1,202 | €1,218 | ▲ 1.3% |
| Gross operating margin9900 | €82,362 | €76,349 | €33,149 | -€6,901 | -€4,268 | ▲ 38.2% |
| Operating profit (loss)9901 | €81,895 | €75,233 | €32,159 | -€8,103 | -€5,486 | ▲ 32.3% |
| Financial income75/76B | - | €0 | €7 | €119 | €0 | ▼ 99.8% |
| Recurring financial income75 | €11 | €0 | €7 | €119 | €0 | ▼ 99.8% |
| Financial charges65/66B | - | €1,274 | €252 | €101 | €24 | ▼ 76.0% |
| Recurring financial charges65 | €7,520 | €1,274 | €252 | €101 | €24 | ▼ 76.0% |
| Profit (loss) for the period before taxes9903 | €74,386 | €73,960 | €31,913 | -€8,085 | -€5,510 | ▲ 31.8% |
| Profit (loss) for the period9904 | €74,386 | €73,960 | €31,913 | -€8,085 | -€5,510 | ▲ 31.8% |
| Profit (loss) for the period to be appropriated9905 | €74,386 | €73,960 | €31,913 | -€8,085 | -€5,510 | ▲ 31.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.1m | €3.4m | €2.1m | €1.6m | €1.6m | ▼ 0.2% |
| Fixed assets21/28 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Financial fixed assets28 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Current assets29/58 | €1.4m | €1.8m | €496,342 | €2,801 | €268 | ▼ 90.4% |
| Stocks and contracts in progress3 | €980,470 | €1.7m | €0 | - | - | - |
| Contracts in progress37 | - | €1.7m | €0 | - | - | - |
| Amounts receivable within one year40/41 | €274,288 | €3,554 | €494,239 | €0 | - | - |
| Trade receivables40 | - | €3,549 | €491,990 | €0 | - | - |
| Other amounts receivable41 | - | €5 | €2,249 | €0 | - | - |
| Cash at bank and in hand54/58 | €194,380 | €89,987 | €2,103 | €2,801 | €268 | ▼ 90.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.1m | €3.4m | €2.1m | €1.6m | €1.6m | ▼ 0.2% |
| Equity10/15 | €641,710 | €715,670 | €747,583 | €739,498 | €733,989 | ▼ 0.7% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Revaluation surpluses12 | - | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Non-distributable reserves130/1 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Legal reserve130 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€1.8m | -€1.7m | -€1.7m | -€1.7m | -€1.7m | ▼ 0.3% |
| Amounts payable17/49 | €2.4m | €2.7m | €1.4m | €878,303 | €881,279 | ▲ 0.3% |
| Amounts payable after more than one year17 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Other amounts payable178/9 | - | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Amounts payable within one year42/48 | €1.9m | €2.2m | €863,759 | €378,303 | €381,279 | ▲ 0.8% |
| Financial debts43 | - | €0 | €26 | €0 | - | - |
| Credit institutions430/8 | - | €0 | €26 | €0 | - | - |
| Trade debts44 | €37,370 | €19,783 | €11,066 | €2,066 | €968 | ▼ 53.2% |
| Suppliers440/4 | - | €19,783 | €11,066 | €2,066 | €968 | ▼ 53.2% |
| Advances received on contracts in progress46 | - | €1.3m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | €1,664 | €124 | €0 | - | - |
| Taxes450/3 | - | €1,664 | €124 | €0 | - | - |
| Other amounts payable47/48 | - | €834,487 | €852,543 | €376,237 | €380,312 | ▲ 1.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,386 | €73,960 | €31,913 | -€8,085 | -€5,510 | ▲ 31.8% |
| Operating cash flow (approximation) | €74,386 | €73,960 | €31,913 | -€8,085 | -€5,510 | ▲ 31.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€104,394 | -€87,883 | €698 | -€2,533 | ▼ 463% |
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
2025
20-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 9 days late
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 11 days late
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 13 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-11
Financial
Back to profitnet €74,386
Net result €74,386 after 2 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
2019
30-11
Financial
Equity above €500,000Eq €567,325
Equity rises from -€736,551 to €567,325.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
18-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 233 days late
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 301 days late
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 327 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Sint-Martens-Latem · 1 establishment unit since 1992
Ground area
1,685 m²
Building footprint
354 m²
Volume, LiDAR
1,526 m³
Parcel 44064B0033/00P005, Flanders · tallest building 17.3 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Golflaan 42, 9830 Sint-Martens-Latem
since 19922.057.031.488
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0033/00P005 | Flanders | 1,685 m² | 1 · 354 m² | 17.3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-11-2024 list no shareholders, and no other source names one.
Holdings 1
-
99.99%
According to the annual accounts to 30-11-2024 of SANDEC 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.
Identification & contact
Identification
Legal formPublic limited company
Founded29-05-1990
Fiscal year end30-11
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.