SANEM
ActiveSummary
SANEM has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9,740 and a net result of €4,620. Equity is shrinking by ~42.5% per year across the filed fiscal years. Its solvency ranks better than 14% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+58
Solvency32▲+4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.06 against 1.05 in 2024; short-term debt: 92.1% and cash: 4.4% of total assets), and 93.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
6.5%
Return on assets
3.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 32023 sector peers (2025).
NBB · sector comparisonPosition among 32023 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
2025
31 d late
2024
38 d early
2023
14 d early
2022
60 d late
2021
31 d late
2020
38 d late
2019
31 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 11 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 31 August (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€9,740▲ 90.2%
2024 · €5,120
Total assets
€149,206▼ 2.4%
2024 · €152,802
Net result
€4,620
2024 · -€3,978
Working capital
€8,222▲ 18.8%
2024 · €6,919
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1,449-€39,751€5,420-€3,053€5,658
Net result-€401below the sector's middle half▲ 99.3%-€41,984below the sector's middle half▼ 10,363%€4,194within the sector's middle half-€3,978below the sector's middle half€4,620within the sector's middle half
Equity€46,888within the sector's middle half▼ 0.8%€4,904below the sector's middle half▼ 89.5%€9,098below the sector's middle half▲ 85.5%€5,120below the sector's middle half▼ 43.7%€9,740below the sector's middle half▲ 90.2%
Total assets€251,073within the sector's middle half▲ 27.8%€190,667within the sector's middle half▼ 24.1%€170,599within the sector's middle half▼ 10.5%€152,802within the sector's middle half▼ 10.4%€149,206within the sector's middle half▼ 2.4%
Debt€204,185▲ 36.9%€185,763▼ 9.0%€161,501▼ 13.1%€147,682▼ 8.6%€139,465▼ 5.6%
Working capital-€78,145below the sector's middle half▲ 17.3%-€106,695below the sector's middle half▼ 36.5%€10,599within the sector's middle half€6,919within the sector's middle half▼ 34.7%€8,222within the sector's middle half▲ 18.8%
Solvency18.7%below the sector's middle half▼ 5.4pp2.6%below the sector's middle half▼ 16.1pp5.3%below the sector's middle half▲ 2.8pp3.4%below the sector's middle half▼ 2.0pp6.5%below the sector's middle half▲ 3.2pp
Current ratio0.61below the sector's middle half▲ 0.310.42below the sector's middle half▼ 0.191.07within the sector's middle half▲ 0.651.05below the sector's middle half▼ 0.021.06within the sector's middle half▲ 0.01
Return on assets (ROA)-0.2%below the sector's middle half▲ 28.5pp-22.0%below the sector's middle half▼ 21.9pp2.5%within the sector's middle half▲ 24.5pp-2.6%below the sector's middle half▼ 5.1pp3.1%within the sector's middle half▲ 5.7pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €5,658 after a loss of €3,053 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149,206
Fixed assets
€3,570 ▲ 1,988%
Current assets
€145,636 ▼ 4.6%
Equity and liabilities €149,206
Equity
€9,740 ▲ 90.2%
Debt
€139,465 ▼ 5.6%
Debt's share of the balance-sheet total falls from 96.6% to 93.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,959▲
2024 · -€2,825
Cash flow
€4,921▲
2024 · -€3,750
Quick ratio
0.98▲
2024 · 0.97
Debt to equity
14.32▼
2024 · 28.84
ROE
47.4%▲
2024 · -77.7%
Interest coverage
16.65▲
2024 · -9.56
Debt ≤ 1 year
€137,414▼
2024 · €145,712
Income taxes
€691▲
2024 · €629
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,375 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.2%
went bankrupt
1.6%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 1,375 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 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €28,099 | - | €913 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,912 | €16,482 | €8,749 | €228 | €301 | ▲ 32.2% |
| Other operating charges640/8 | €2,635 | €4,267 | €4,169 | €2,904 | €1,898 | ▼ 34.7% |
| Gross operating margin9900 | €29,996 | -€19,002 | €18,338 | €79 | €7,857 | ▲ 9,827% |
| Operating profit (loss)9901 | €1,449 | -€39,751 | €5,420 | -€3,053 | €5,658 | ▲ 285% |
| Financial income75/76B | €0 | - | €578 | - | €11 | - |
| Recurring financial income75 | €0 | - | €578 | - | €11 | - |
| Financial charges65/66B | €1,119 | €1,462 | €994 | €295 | €358 | ▲ 21.1% |
| Recurring financial charges65 | €1,119 | €1,462 | €994 | €295 | €358 | ▲ 21.1% |
| Profit (loss) for the period before taxes9903 | €330 | -€41,213 | €5,003 | -€3,348 | €5,311 | ▲ 259% |
| Income taxes67/77 | €732 | €771 | €809 | €629 | €691 | ▲ 9.8% |
| Profit (loss) for the period9904 | -€401 | -€41,984 | €4,194 | -€3,978 | €4,620 | ▲ 216% |
| Profit (loss) for the period to be appropriated9905 | -€401 | -€41,984 | €4,194 | -€3,978 | €4,620 | ▲ 216% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €251,073 | €190,667 | €170,599 | €152,802 | €149,206 | ▼ 2.4% |
| Fixed assets21/28 | €129,830 | €113,349 | €399 | €171 | €3,570 | ▲ 1,988% |
| Tangible fixed assets22/27 | €129,830 | €113,349 | €399 | €171 | €3,570 | ▲ 1,988% |
| Land and buildings22 | €107,432 | €104,201 | - | - | - | - |
| Plant, machinery and equipment23 | €2,015 | €626 | €399 | €171 | - | - |
| Furniture and vehicles24 | €20,383 | €8,521 | - | - | €3,570 | - |
| Current assets29/58 | €121,243 | €77,318 | €170,200 | €152,631 | €145,636 | ▼ 4.6% |
| Stocks and contracts in progress3 | - | €6,543 | €10,576 | €10,976 | €11,329 | ▲ 3.2% |
| Stocks30/36 | - | €6,543 | €10,576 | €10,976 | €11,329 | ▲ 3.2% |
| Amounts receivable within one year40/41 | €116,961 | €65,252 | €37,467 | €28,273 | €126,256 | ▲ 347% |
| Trade receivables40 | €97,193 | €46,400 | €18,720 | €10,316 | €16,290 | ▲ 57.9% |
| Other amounts receivable41 | €19,768 | €18,852 | €18,747 | €17,957 | €109,966 | ▲ 512% |
| Cash at bank and in hand54/58 | €2,170 | €3,966 | €120,364 | €112,562 | €6,510 | ▼ 94.2% |
| Deferred charges and accrued income490/1 | €2,112 | €1,558 | €1,793 | €821 | €1,541 | ▲ 87.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €251,073 | €190,667 | €170,599 | €152,802 | €149,206 | ▼ 2.4% |
| Equity10/15 | €46,888 | €4,904 | €9,098 | €5,120 | €9,740 | ▲ 90.2% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €122,805 | €122,805 | €122,805 | €122,805 | €122,805 | = |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €1,855 | €1,855 | - | - |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €1,855 | €1,855 | - | - |
| Distributable reserves133 | €120,950 | €120,950 | €120,950 | €120,950 | €122,805 | ▲ 1.5% |
| Profit (loss) carried forward14 | -€82,118 | -€124,102 | -€119,908 | -€123,885 | -€119,265 | ▲ 3.7% |
| Amounts payable17/49 | €204,185 | €185,763 | €161,501 | €147,682 | €139,465 | ▼ 5.6% |
| Amounts payable after more than one year17 | €2,419 | - | - | - | - | - |
| Financial debts170/4 | €2,419 | - | - | - | - | - |
| Amounts payable within one year42/48 | €199,388 | €184,013 | €159,601 | €145,712 | €137,414 | ▼ 5.7% |
| Current portion of amounts payable after more than one year42 | €9,930 | €2,419 | - | - | - | - |
| Financial debts43 | €13 | - | - | - | - | - |
| Credit institutions430/8 | €13 | - | - | - | - | - |
| Trade debts44 | €4,271 | €8,421 | €6,402 | €1,380 | €4,771 | ▲ 246% |
| Suppliers440/4 | €4,271 | €8,421 | €6,402 | €1,380 | €4,771 | ▲ 246% |
| Taxes, remuneration and social security45 | €1,736 | €1,503 | €809 | €629 | €1,399 | ▲ 122% |
| Taxes450/3 | €1,736 | €1,503 | €809 | €629 | €1,399 | ▲ 122% |
| Other amounts payable47/48 | €183,437 | €171,671 | €152,390 | €143,702 | €131,245 | ▼ 8.7% |
| Accrued charges and deferred income492/3 | €2,378 | €1,750 | €1,900 | €1,970 | €2,051 | ▲ 4.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€401 | -€41,984 | €4,194 | -€3,978 | €4,620 | ▲ 216% |
| + Depreciation and write-downs630 | €25,912 | €16,482 | €8,749 | €228 | €301 | ▲ 32.2% |
| Operating cash flow (approximation) | €25,511 | -€25,503 | €12,943 | -€3,750 | €4,921 | ▲ 231% |
| Investment in fixed assets (approximation) | - | €0 | €104,201 | €0 | -€3,700 | - |
| Change in cash | - | €1,796 | €116,398 | -€7,802 | -€106,052 | ▼ 1,259% |
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 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €4,620
Net result €4,620 after one loss-making year.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4,194
Net result €4,194 after 4 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.07
Current ratio from 0.42 to 1.07; short-term debt falls from €184,013 to €159,601.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
07-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 38 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€60,283
Net result drops to -€60,283, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
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 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, Kruisem · 1 establishment unit since 2013
Ground area
6,430 m²
Building footprint
226 m²
Volume, LiDAR
746 m³
Parcel 45053A0525/00G000, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Cieskensstraat (WAN) 6, 9772 Kruisem
since 20132.223.004.131
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45053A0525/00G000 | Flanders | 6,430 m² | 1 · 226 m² | 7.3 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.
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 22,705 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-09-2013
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0538672870
Registered
02-12-2025
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.