SANICO
ActiveSANICO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €14k. Equity is shrinking by ~39.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 19% of 7673 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
94
/ 100
Excellent▲ +32 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability97▲+97
Solvency45▼-30
Growth38▲+16
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 8.17 in 2024), and 81.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 43
Relative position
BE, all sectors
reference
Sector 43
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 2025Solvency, return and age of the figures
Solvency
18.7%
Return on assets
10.9%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 7673 sector peers (2025).
NBB · sector comparisonPosition among 7673 sector peers
Solvency
better than 19%
← weakest
strongest →
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €23k
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
3 d late
2024
3 d early
2023
2 d early
2022
5 d early
2021
9 d early
2020
9 d early
2019
on the day
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€103k▲ 628%
2024 · €14k
2018: €381k
2019: €255k
2020: €54k
2021: €78k
2022: €38k
2023: €48k
2024: €14k
2018 → 2025
EBIT margin
13.3%▲ 81.2pp
2024 · -67.9%
2018: -0.5%
2019: 1.4%
2020: -26.2%
2021: -38.1%
2022: -78.1%
2023: 0.0%
2024: -67.9%
2018 → 2025
Net result
€14k
2024 · €-10k
2018: €-3k
2019: €2k
2020: €-16k
2021: €-32k
2022: €-34k
2023: €245
2024: €-10k
2018 → 2025
Working capital
€13k▼ 72.7%
2024 · €48k
2018: €136k
2019: €139k
2020: €123k
2021: €91k
2022: €58k
2023: €58k
2024: €48k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€78k-€38k▼ 51.2%€48k▲ 26.1%€14k▼ 70.6%€103k▲ 628%
Equity€53k-€19k▼ 63.5%€20k▲ 1.3%€10k▼ 49.7%€23k▲ 138%
Operating result€-30k-€-30k▲ 0.1%€20€-10k€14k
Net result€-32k-€-34k▼ 4.3%€245€-10k€14k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €14k after a loss of €10k in 2024, the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125k
Fixed assets
€58k▲ 548%
Current assets
€67k▲ 22.0%
Equity and liabilities €125k
Equity
€23k▲ 138%
Provisions
€47k=
Debt
€54k▲ 701%
The debt ratio rises from 10.5% to 43.3%: debt grows faster than equity.
Key figures and ratios
EBITDA
€30k
Cash flow
€30k
Solvency
18.7%▲
2024 · 15.3%
Current ratio
1.24▼
2024 · 8.17
Quick ratio
1.24▼
2024 · 8.17
Debt / equity
2.31▲
2024 · 0.69
ROE
58.1%▲
2024 · -99.0%
ROA
10.9%▲
2024 · -15.2%
Interest coverage
252.52
Debt
€54k▲
2024 · €7k
Debt ≤ 1 year
€54k▲
2024 · €7k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€64k€125k▲
Fixed assets21/28€9k€58k▲
Tangible fixed assets22/27-€49k
Furniture and vehicles24-€49k
Financial fixed assets28€9k€9k=
Current assets29/58€55k€67k▲
Amounts receivable within one year40/41€55k€64k▲
Trade receivables40€3k€14k▲
Other amounts receivable41€52k€50k▼
Cash at bank and in hand54/58€38€3k▲
Equity and liabilities
Total equity and liabilities10/49€64k€125k▲
Equity10/15€10k€23k▲
Contributions10/11€14k€14k=
Reserves13€35k€35k=
Non-distributable reserves130/1€35k€35k=
Reserves not available under the articles1311€2k€2k=
Other1319€33k€33k=
Profit (loss) carried forward14€-39k€-25k▲
Provisions and deferred taxes16€47k€47k=
Provisions for liabilities and charges160/5€47k€47k=
Pensions and similar obligations160€47k€47k=
Amounts payable17/49€7k€54k▲
Amounts payable within one year42/48€7k€54k▲
Trade debts44€3k€38k▲
Suppliers440/4€3k€38k▲
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€4k€2k▼
Other amounts payable47/48€304€14k▲
Accrued charges and deferred income492/3-€27
Income statement
Code20242025
Turnover70€14k€103k▲
Goods, raw materials, services and sundry goods60/61€23k€73k▲
Remuneration, social security and pensions62€406-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€16k
Other operating charges640/8€153€174▲
Gross operating margin9900€-9k€30k▲
Operating profit (loss)9901€-10k€14k▲
Financial charges65/66B€115€119▲
Recurring financial charges65€115€119▲
Profit (loss) for the period before taxes9903€-10k€14k▲
Profit (loss) for the period9904€-10k€14k▲
Profit (loss) for the period to be appropriated9905€-10k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-39k€-25k▲
Profit (loss) brought forward from the previous period14P€-29k€-39k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 3 days late
2025
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €245
Net result €245 after 3 loss-making years.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-34k
Net result drops to €-34k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 6.73
Current ratio from 3.10 to 6.73; short-term debt falls from €44k to €10k.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity triplescurrent ratio 21.73
Current ratio from 7.88 to 21.73; short-term debt falls from €20k to €6k.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-12
Financial
Equity above €100kEq €101k ▲1.8%
Equity rises from €99k to €101k.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 19 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 22 days late
2017
22-07
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.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Geraardsbergen · 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.
Majoor Van Lierdelaan(Ove) 25+9500 GeraardsbergenGround area
2,969 m²
Building footprint
1,274 m²
Volume, LiDAR
5,806 m³
Parcel 41056B0221/00K002, Flanders · tallest building 16.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
White Quality
since 20022.114.250.602
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41056B0221/00K002 | Flanders | 2,969 m² | 1 · 1,274 m² | 16.5 m · 2 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.
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ED RENOV
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Of 3,987 companies in sector 43310 we hold annual accounts for 1,736. 1,381 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded11-05-2000
Fiscal year end31-12
Activities, NACEBEL
43310Plastering work
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.