SANDEL
ActiveSANDEL has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €716k and a net result of €219k. Equity is growing by ~31.4% per year across the filed fiscal years. Its solvency ranks better than 72% of 801 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
100
/ 100
Excellent= vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency98▲+2
Growth78=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 3.17 against 2.2 in 2023), and 39.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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 2024Solvency, return and age of the figures
Solvency
60.1%
Return on assets
18.4%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-07-2025, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
6 d early
2023
29 d late
2022
30 d late
2021
12 d late
2020
24 d late
2019
33 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€716k▲ 44.1%
2023 · €497k
2018: €144k
2019: €169k
2020: €215k
2021: €293k
2022: €391k
2023: €497k
2018 → 2024
Total assets
€1.19M▲ 27.6%
2023 · €934k
2018: €373k
2019: €361k
2020: €358k
2021: €508k
2022: €738k
2023: €934k
2018 → 2024
Net result
€219k▲ 106%
2023 · €106k
2018: €59k
2019: €26k
2020: €46k
2021: €77k
2022: €98k
2023: €106k
2018 → 2024
Working capital
€376k▲ 104%
2023 · €185k
2018: €12k
2019: €93k
2020: €145k
2021: €43k
2022: €123k
2023: €185k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€215k-€293k▲ 36.0%€391k▲ 33.5%€497k▲ 27.2%€716k▲ 44.1%
Operating result€70k-€97k▲ 37.8%€130k▲ 34.3%€176k▲ 35.6%€333k▲ 89.0%
Net result€46k-€77k▲ 68.9%€98k▲ 26.7%€106k▲ 8.3%€219k▲ 106%
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 has risen four years in a row; 2024 is 89% above 2023 and is the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.19M
Fixed assets
€642k▲ 7.8%
Current assets
€550k▲ 62.5%
Equity and liabilities €1.19M
Equity
€716k▲ 44.1%
Debt
€476k▲ 9.0%
The debt ratio falls from 46.8% to 39.9%: equity grows faster than debt.
Key figures and ratios
EBITDA
€428k▲
2023 · €259k
Cash flow
€313k▲
2023 · €189k
Solvency
60.1%▲
2023 · 53.2%
Current ratio
3.17▲
2023 · 2.20
Quick ratio
3.07▲
2023 · 2.07
Debt / equity
0.67▼
2023 · 0.88
ROE
30.6%▲
2023 · 21.4%
ROA
18.4%▲
2023 · 11.4%
Interest coverage
16.40▲
2023 · 13.05
Debt
€476k▲
2023 · €437k
Debt ≤ 1 year
€174k▲
2023 · €154k
Debt > 1 year
€302k▲
2023 · €282k
Income taxes
€98k▲
2023 · €53k
Staff costs
€188k▼
2023 · €193k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€934k€1.19M▲
Fixed assets21/28€595k€642k▲
Tangible fixed assets22/27€595k€642k▲
Land and buildings22€508k€463k▼
Plant, machinery and equipment23€80k€175k▲
Furniture and vehicles24€7k€4k▼
Financial fixed assets28€455€455=
Current assets29/58€338k€550k▲
Stocks and contracts in progress3€20k€17k▼
Stocks30/36€20k€17k▼
Amounts receivable within one year40/41€106k€141k▲
Trade receivables40€44k€31k▼
Other amounts receivable41€62k€110k▲
Current investments50/53-€200k
Cash at bank and in hand54/58€195k€179k▼
Deferred charges and accrued income490/1€17k€14k▼
Equity and liabilities
Total equity and liabilities10/49€934k€1.19M▲
Equity10/15€497k€716k▲
Contributions10/11€19k€19k=
Reserves13€478k€697k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€478k€697k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€437k€476k▲
Amounts payable after more than one year17€282k€302k▲
Financial debts170/4€282k€302k▲
Amounts payable within one year42/48€154k€174k▲
Current portion of amounts payable after more than one year42€55k€77k▲
Trade debts44€56k€20k▼
Suppliers440/4€56k€20k▼
Taxes, remuneration and social security45€42k€76k▲
Taxes450/3€19k€43k▲
Remuneration and social security454/9€23k€33k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€1k€662▼
Income statement
Code20232024
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€193k€188k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€82k€94k▲
Other operating charges640/8€7k€7k▼
Gross operating margin9900€459k€623k▲
Operating profit (loss)9901€176k€333k▲
Financial income75/76B€2k€10k▲
Recurring financial income75€2k€10k▲
Financial charges65/66B€20k€26k▲
Recurring financial charges65€20k€26k▲
Profit (loss) for the period before taxes9903€159k€317k▲
Income taxes67/77€53k€98k▲
Profit (loss) for the period9904€106k€219k▲
Profit (loss) for the period to be appropriated9905€106k€219k▲
Appropriation of the result
Profit (loss) to be appropriated9906€214k€219k▲
Profit (loss) brought forward from the previous period14P€108k€0▼
Transfer to equity691/2€214k€219k▲
To other reserves6921€214k€219k▲
Social balance
Average headcount (FTE)90877.010.6▲
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €219k ▲106%
Operating result €333k, net result €219k, both a record.
31-12
Financial
Equity above €500kEq €716k ▲44.1%
7 profitable years in a row build equity to €716k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 12 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
31-12
Financial
Equity above €200kEq €215k ▲27%
3 profitable years in a row build equity to €215k.
02-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 33 days late
2019
31-12
Financial
Weakest financial yearnet €26k ▼56%
Net result drops to €26k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150kEq €169k ▲18%
2 profitable years in a row build equity to €169k.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Jabbeke · 1 establishment unit since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Dorpsstraat 628490 JabbekeGround area
977 m²
Building footprint
693 m²
Volume, LiDAR
2,447 m³
Parcel 31012A0909/00N000, Flanders · tallest building 9.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
BROOD EN BANKET SANDERS
since 20022.100.567.563
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31012A0909/00N000 | Flanders | 977 m² | 1 · 693 m² | 9.9 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
HOLDING FRANCOIS
BE 0882.460.270
Herzele · Eq €716k
SILLY BELGIUM
BE 0729.749.707
Jette · Eq €717k
PATISSERIE GHEYSEN
BE 0685.594.812
Koksijde · Eq €714k
De Swaene
BE 0844.688.371
Antwerpen · Eq €711k
Boulangerie BITAINE
BE 0428.343.783
Virton · Eq €723k
Of 4,201 companies in sector 10712 we hold annual accounts for 1,851. 1,088 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-04-2002
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
15812
47241Retail sale of bread and pastry (bakery outlets)
52240
10711Manufacture of food products
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.