SANDERS
ActiveSummary
SANDERS has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €4.1m and a net result of -€111,791. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 75% of 175 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability54▲+35
Solvency83▲+9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280,000 at 30 days acceptable
Liquidity ample (current ratio 2.73 against 2.19 in 2025; short-term debt: 21.4% and cash: 0.3% of total assets), and 42.4% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 2026Solvency, return and age of the figures
Solvency
57.6%
Return on assets
-1.6%
Age of the figures
8 mo
neutral · Filed after the deadline
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 28-09-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2026
28 d late
2025
29 d late
2023
5 d early
2022
1 d early
2021
30 d late
2020
on the day
2019
9 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 10 days after the deadline; the sector median for financial year 2023 is on the deadline day, and 48% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today. Usually files around 28 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-01-2027 close31-08-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2026, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€111,791
2025 · €15,110
Working capital
€2.6m▼ 16.8%
2025 · €3.1m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320252026
Operating result€227,443▲ 132%€267,254▲ 17.5%€142,082▼ 46.8%-€275,451--€144,093▲ 47.7%
Net result€222,036above the sector's middle half▲ 200%€256,399above the sector's middle half▲ 15.5%€198,346above the sector's middle half▼ 22.6%€15,110within the sector's middle half--€111,791
Equity€3.8mabove the sector's middle half▲ 4.1%€4.0mabove the sector's middle half▲ 4.6%€4.2mabove the sector's middle half▲ 3.7%€4.2mabove the sector's middle half-€4.1m▼ 2.7%
Total assets€5.9mabove the sector's middle half▲ 24.0%€6.3mabove the sector's middle half▲ 5.6%€6.6mabove the sector's middle half▲ 4.7%€8.6mabove the sector's middle half-€7.1m▼ 17.4%
Debt€2.1m▲ 91.3%€2.2m▲ 7.4%€2.4m▲ 6.5%€4.4m-€3.0m▼ 31.4%
Working capital€4.5mabove the sector's middle half▲ 30.5%€4.6mabove the sector's middle half▲ 3.7%€4.6mabove the sector's middle half▼ 0.7%€3.1mabove the sector's middle half-€2.6m▼ 16.8%
Solvency64.8%above the sector's middle half▼ 12.4pp64.2%above the sector's middle half▼ 0.6pp63.6%above the sector's middle half▼ 0.6pp48.9%within the sector's middle half-57.6%▲ 8.7pp
Current ratio5.01above the sector's middle half▲ 0.614.57above the sector's middle half▼ 0.443.78above the sector's middle half▼ 0.792.19within the sector's middle half-2.73▲ 0.54
Return on assets (ROA)3.7%within the sector's middle half▲ 2.2pp4.1%within the sector's middle half▲ 0.4pp3.0%within the sector's middle half▼ 1.1pp0.2%within the sector's middle half--1.6%▼ 1.8pp
Staff (FTE)22above the sector's middle half▼ 6.8%22.9above the sector's middle half▲ 4.1%21.4above the sector's middle half▼ 6.6%19.4above the sector's middle half-23.9▲ 23.2%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €144,093 in 2026 against €275,451 in 2025; the loss shrinks.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €7.1m
Fixed assets
€2.9m ▲ 6.0%
Current assets
€4.1m ▼ 28.5%
Equity and liabilities €7.1m
Equity
€4.1m ▼ 2.7%
Debt
€3.0m ▼ 31.4%
Debt's share of the balance-sheet total falls from 51.1% to 42.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€218,760▲
2025 · -€100,208
Cash flow
€251,062▲
2025 · €190,352
Quick ratio
2.32▲
2025 · 2.05
Debt to equity
0.73▼
2025 · 1.04
ROE
-2.7%▼
2025 · 0.4%
Interest coverage
4.52▲
2025 · -9.35
Debt ≤ 1 year
€1.5m▼
2025 · €2.6m
Debt > 1 year
€1.5m▼
2025 · €1.7m
Income taxes
€0▼
2025 · €6,653
Staff costs
€1.1m▼
2025 · €2.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 8,611 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 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | €750 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €1.6m | €2.3m | €2.6m | €1.1m | ▼ 58.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €132,270 | €145,784 | €118,486 | €175,242 | €362,853 | ▲ 107% |
| Other operating charges640/8 | - | €3,098 | €3,188 | €6,508 | €3,581 | ▼ 45.0% |
| Non-recurring operating charges66A | - | - | - | €158,763 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.2m | €2.0m | €2.6m | €2.6m | €1.3m | ▼ 50.7% |
| Operating profit (loss)9901 | €227,443 | €267,254 | €142,082 | -€275,451 | -€144,093 | ▲ 47.7% |
| Financial income75/76B | - | €48,143 | €109,256 | €307,935 | €80,685 | ▼ 73.8% |
| Recurring financial income75 | €43,015 | €48,143 | €109,256 | €307,935 | €80,685 | ▼ 73.8% |
| Financial charges65/66B | - | €2,294 | €3,006 | €10,722 | €48,384 | ▲ 351% |
| Recurring financial charges65 | €3,095 | €2,294 | €3,006 | €10,722 | €48,384 | ▲ 351% |
| Profit (loss) for the period before taxes9903 | €267,364 | €313,103 | €248,332 | €21,762 | -€111,791 | ▼ 614% |
| Income taxes67/77 | €45,328 | €56,705 | €49,987 | €6,653 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €222,036 | €256,399 | €198,346 | €15,110 | -€111,791 | ▼ 840% |
| Profit (loss) for the period to be appropriated9905 | €222,036 | €256,399 | €198,346 | €15,110 | -€111,791 | ▼ 840% |
| Line | 2021 | 2022 | 2023 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.9m | €6.3m | €6.6m | €8.6m | €7.1m | ▼ 17.4% |
| Fixed assets21/28 | €362,265 | €345,821 | €313,110 | €2.8m | €2.9m | ▲ 6.0% |
| Tangible fixed assets22/27 | €358,990 | €342,546 | €309,835 | €2.8m | €2.9m | ▲ 6.0% |
| Land and buildings22 | - | €0 | - | €5,704 | €4,503 | ▼ 21.1% |
| Plant, machinery and equipment23 | - | €80,279 | €83,948 | €2.5m | €2.6m | ▲ 1.5% |
| Furniture and vehicles24 | - | €18,218 | €16,586 | €7,540 | €34,938 | ▲ 363% |
| Other tangible fixed assets26 | - | €244,048 | €209,301 | €235,789 | €337,699 | ▲ 43.2% |
| Financial fixed assets28 | €3,275 | €3,275 | €3,275 | €500 | €0 | ▼ 100% |
| Current assets29/58 | €5.6m | €5.9m | €6.2m | €5.8m | €4.1m | ▼ 28.5% |
| Stocks and contracts in progress3 | €343,556 | €270,962 | €324,494 | €379,419 | €619,934 | ▲ 63.4% |
| Stocks30/36 | - | €270,962 | €324,494 | €379,419 | €619,934 | ▲ 63.4% |
| Amounts receivable within one year40/41 | €5.2m | €5.6m | €5.9m | €5.4m | €3.4m | ▼ 36.2% |
| Trade receivables40 | - | €136,512 | €130,926 | €249,088 | €324,523 | ▲ 30.3% |
| Other amounts receivable41 | - | €5.5m | €5.8m | €5.1m | €3.1m | ▼ 39.4% |
| Cash at bank and in hand54/58 | €7,708 | €8,806 | €10,319 | €10,129 | €17,894 | ▲ 76.7% |
| Deferred charges and accrued income490/1 | - | €1,889 | €9,582 | €7,804 | €58,514 | ▲ 650% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.9m | €6.3m | €6.6m | €8.6m | €7.1m | ▼ 17.4% |
| Equity10/15 | €3.8m | €4.0m | €4.2m | €4.2m | €4.1m | ▼ 2.7% |
| Contributions10/11 | €65,000 | €65,008 | €65,008 | €65,008 | €65,008 | = |
| Capital10 | - | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Issued capital100 | - | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Outside capital11 | - | €8 | €8 | €8 | €8 | = |
| Share premium1100/10 | - | €8 | €8 | €8 | €8 | = |
| Reserves13 | €3.8m | €4.0m | €4.1m | €4.1m | €4.0m | ▼ 2.7% |
| Non-distributable reserves130/1 | - | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Legal reserve130 | - | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Tax-exempt reserves132 | - | €156,735 | €156,735 | €156,735 | €156,735 | = |
| Distributable reserves133 | - | €3.8m | €3.9m | €4.0m | €3.8m | ▼ 2.8% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | - | - |
| Amounts payable17/49 | €2.1m | €2.2m | €2.4m | €4.4m | €3.0m | ▼ 31.4% |
| Amounts payable after more than one year17 | €973,996 | €945,860 | €733,709 | €1.7m | €1.5m | ▼ 14.5% |
| Financial debts170/4 | - | €945,860 | €733,709 | €1.7m | €1.5m | ▼ 14.5% |
| Amounts payable within one year42/48 | €1.1m | €1.3m | €1.7m | €2.6m | €1.5m | ▼ 42.6% |
| Current portion of amounts payable after more than one year42 | - | €28,119 | €111,898 | €220,351 | €250,977 | ▲ 13.9% |
| Financial debts43 | - | €15,693 | €0 | - | - | - |
| Credit institutions430/8 | - | €15,693 | €0 | - | - | - |
| Trade debts44 | €809,274 | €965,164 | €1.3m | €2.2m | €1.1m | ▼ 52.6% |
| Suppliers440/4 | - | €965,164 | €1.3m | €2.2m | €1.1m | ▼ 52.6% |
| Taxes, remuneration and social security45 | - | €205,454 | €227,021 | €173,755 | €199,880 | ▲ 15.0% |
| Taxes450/3 | - | €33,497 | €5,827 | €5,990 | €7,021 | ▲ 17.2% |
| Remuneration and social security454/9 | - | €171,957 | €221,194 | €167,765 | €192,860 | ▲ 15.0% |
| Other amounts payable47/48 | - | €80,000 | €50,000 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | €124 | €2,063 | €2,768 | ▲ 34.1% |
| Line | 2021 | 2022 | 2023 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €222,036 | €256,399 | €198,346 | €15,110 | -€111,791 | ▼ 840% |
| + Depreciation and write-downs630 | €132,270 | €145,784 | €118,486 | €175,242 | €362,853 | ▲ 107% |
| Operating cash flow (approximation) | €354,306 | €402,182 | €316,831 | €190,352 | €251,062 | ▲ 31.9% |
| Investment in fixed assets (approximation) | - | -€129,340 | -€85,775 | - | -€528,565 | - |
| Change in cash | - | €1,098 | €1,513 | - | €7,766 | - |
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 2027, expected by
2026
28-09
NBB filing
Annual accounts filed
fiscal year 2026 · full schema · 28 days late
31-01
Financial
Weakest financial yearnet -€111,791
Net result drops to -€111,791, the lowest in the series.
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 29 days late
2023
26-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-01
Financial
Highest result since 2019net €256,399 ▲15.5%
Operating result €267,254, net result €256,399, both a record.
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Oostende · 1 establishment unit since 2001
Ground area
3,071 m²
Building footprint
2,399 m²
Volume, LiDAR
3,992 m³
Parcel 35385B0055/02C007, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
Nieuwpoortsesteenweg 665, 8400 Oostende
since 20012.034.287.661
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35385B0055/02C007 | Flanders | 3,071 m² | 2 · 2,399 m² | 10.2 m · 2 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 ownerChain of control
- DISTRIHOLD
- SANDERS
Highest known parent: DISTRIHOLD. The sources do not say who stands above it.
Owners 1
- DISTRIHOLDparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 74,591 EUR awarded · 19,910 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 54,682 EUR | 1 EUR |
| 2024 | 1 | 5,026 EUR | 5,026 EUR |
| 2023 | 2 | 6,333 EUR | 6,333 EUR |
| 2022 | 1 | 8,550 EUR | 8,550 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 site · 1 with a smileyOostende2.034.287.661
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Of 10,509 companies in sector 47110 we hold annual accounts for 5,853. 927 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded27-11-1986
Fiscal year end31-01
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
46319Wholesale of fruit and vegetables, excluding potatoes
E-invoicing
Reachable via Peppol
Peppol ID
0208:0429907661
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.