SANIGERA TECH
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-06-2026 at the NBB all 6 filings
Turnover
≈ €910,000
Estimated: probably between €690,000 and €1.2m
Total assets
€240,909▲ 3.4%
2024 · €233,025
Net result
€10,350▲ 11.5%
2024 · €9,282
Working capital
€41,377▲ 10.5%
2024 · €37,447
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€23,072
▲ 5.0%
2025
20202025
Net result
€10,350
▲ 11.5%
2025
middle half of the sector
20202025
Equity
€65,774
▲ 18.7%
2025
middle half of the sector
20202025
Total assets
€240,909
▲ 3.4%
2025
middle half of the sector
20202025
Debt
€175,135
▼ 1.4%
2025
20202025
Working capital
€41,377
▲ 10.5%
2025
middle half of the sector
20202025
Solvency
27.3%
▲ 3.5pp
2025
middle half of the sector
20202025
Current ratio
1.26
▲ 0.02
2025
middle half of the sector
20202025
Return on assets (ROA)
4.3%
▲ 0.3pp
2025
middle half of the sector
20202025
Staff (FTE)
7.5
▲ 36.4%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€11,799-€4,267▼ 63.8%€10,128▲ 137%€14,372▲ 41.9%€21,976▲ 52.9%€23,072▲ 5.0%
Net result€11,109within the sector's middle half-€3,408within the sector's middle half▼ 69.3%€8,045within the sector's middle half▲ 136%€8,580within the sector's middle half▲ 6.7%€9,282within the sector's middle half▲ 8.2%€10,350within the sector's middle half▲ 11.5%
Equity€26,109within the sector's middle half-€29,517within the sector's middle half▲ 13.1%€37,562within the sector's middle half▲ 27.3%€46,142within the sector's middle half▲ 22.8%€55,424within the sector's middle half▲ 20.1%€65,774within the sector's middle half▲ 18.7%
Total assets€55,748below the sector's middle half-€91,417within the sector's middle half▲ 64.0%€103,133within the sector's middle half▲ 12.8%€186,453within the sector's middle half▲ 80.8%€233,025within the sector's middle half▲ 25.0%€240,909within the sector's middle half▲ 3.4%
Debt€29,639-€61,900▲ 109%€65,571▲ 5.9%€140,311▲ 114%€177,601▲ 26.6%€175,135▼ 1.4%
Working capital€15,804within the sector's middle half-€27,273within the sector's middle half▲ 72.6%€20,357within the sector's middle half▼ 25.4%€24,667within the sector's middle half▲ 21.2%€37,447within the sector's middle half▲ 51.8%€41,377within the sector's middle half▲ 10.5%
Solvency46.8%within the sector's middle half-32.3%within the sector's middle half▼ 14.5pp36.4%within the sector's middle half▲ 4.1pp24.7%within the sector's middle half▼ 11.7pp23.8%within the sector's middle half▼ 1.0pp27.3%within the sector's middle half▲ 3.5pp
Current ratio1.55within the sector's middle half-1.49within the sector's middle half▼ 0.061.31within the sector's middle half▼ 0.181.22within the sector's middle half▼ 0.091.24within the sector's middle half▲ 0.021.26within the sector's middle half▲ 0.02
Return on assets (ROA)19.9%above the sector's middle half-3.7%within the sector's middle half▼ 16.2pp7.8%within the sector's middle half▲ 4.1pp4.6%within the sector's middle half▼ 3.2pp4.0%within the sector's middle half▼ 0.6pp4.3%within the sector's middle half▲ 0.3pp
Staff (FTE)1within the sector's middle half-1=1=2.5▲ 150%5.5▲ 120%7.5▲ 36.4%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 5% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €240,909
Fixed assets
€39,796 ▼ 1.9%
Current assets
€201,113 ▲ 4.5%
Equity and liabilities €240,909
Equity
€65,774 ▲ 18.7%
Debt
€175,135 ▼ 1.4%
Debt's share of the balance-sheet total falls from 76.2% to 72.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37,233▲
2024 · €36,729
Cash flow
€24,511▲
2024 · €24,035
Quick ratio
0.65▼
2024 · 0.76
Debt to equity
2.66▼
2024 · 3.20
ROE
15.7%▼
2024 · 16.7%
Interest coverage
6.65▲
2024 · 5.69
Debt ≤ 1 year
€159,736▲
2024 · €154,992
Debt > 1 year
€15,399▼
2024 · €22,609
Income taxes
€7,265▲
2024 · €6,320
Staff costs
€325,245▲
2024 · €248,483
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 3 | 6 | 8 |
| full-time | 1 | 1 | 2 | 5 | 7 |
| part-time | - | - | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 2.5 | 5.5 | 7.5 |
| Average over the year, in full-time equivalents | 1 | 1 | 2.5 | 5.5 | 7.5 |
| On a permanent contract | 1 | 1 | 3 | 6 | 8 |
| Joined | - | - | 2 | - | 2 |
| Left | - | - | 0 | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €11,920 | €42,428 | €3,791 | €13,371 |
| Financial fixed assets | - | €680 | - | - | - |
| Depreciation and write-downs of the year | €2,388 | €4,062 | €7,042 | €14,753 | €14,161 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €22,941 | €26,423 | €126,355 | €248,483 | €325,245 | ▲ 30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,246 | €2,388 | €4,062 | €7,042 | €14,753 | €14,161 | ▼ 4.0% |
| Other operating charges640/8 | - | €551 | €752 | €1,443 | €1,239 | €1,683 | ▲ 35.8% |
| Gross operating margin9900 | €42,538 | €30,147 | €41,365 | €149,212 | €286,451 | €364,161 | ▲ 27.1% |
| Operating profit (loss)9901 | €11,799 | €4,267 | €10,128 | €14,372 | €21,976 | €23,072 | ▲ 5.0% |
| Financial income75/76B | - | €643 | €1,218 | €144 | €82 | €142 | ▲ 73.2% |
| Recurring financial income75 | €161 | €643 | €1,218 | €144 | €82 | €142 | ▲ 73.2% |
| Financial charges65/66B | - | €69 | €335 | €1,827 | €6,456 | €5,599 | ▼ 13.3% |
| Recurring financial charges65 | €4 | €69 | €335 | €1,827 | €6,456 | €5,599 | ▼ 13.3% |
| Profit (loss) for the period before taxes9903 | €11,956 | €4,841 | €11,011 | €12,689 | €15,602 | €17,615 | ▲ 12.9% |
| Income taxes67/77 | €847 | €1,433 | €2,966 | €4,109 | €6,320 | €7,265 | ▲ 15.0% |
| Profit (loss) for the period9904 | €11,109 | €3,408 | €8,045 | €8,580 | €9,282 | €10,350 | ▲ 11.5% |
| Profit (loss) for the period to be appropriated9905 | €11,109 | €3,408 | €8,045 | €8,580 | €9,282 | €10,350 | ▲ 11.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €55,748 | €91,417 | €103,133 | €186,453 | €233,025 | €240,909 | ▲ 3.4% |
| Fixed assets21/28 | €11,055 | €8,667 | €17,205 | €51,548 | €40,586 | €39,796 | ▼ 1.9% |
| Tangible fixed assets22/27 | €10,692 | €8,304 | €16,162 | €51,548 | €40,586 | €39,796 | ▼ 1.9% |
| Plant, machinery and equipment23 | - | - | €2,950 | €2,349 | €1,749 | €1,148 | ▼ 34.4% |
| Furniture and vehicles24 | - | €8,304 | €13,212 | €49,199 | €38,837 | €38,648 | ▼ 0.5% |
| Financial fixed assets28 | €363 | €363 | €1,043 | - | - | - | - |
| Current assets29/58 | €44,693 | €82,750 | €85,928 | €134,905 | €192,439 | €201,113 | ▲ 4.5% |
| Stocks and contracts in progress3 | €1,519 | €40,063 | €8,556 | €57,514 | €75,019 | €96,493 | ▲ 28.6% |
| Stocks30/36 | - | €5,063 | €4,556 | €20,014 | €25,219 | €24,993 | ▼ 0.9% |
| Contracts in progress37 | - | €35,000 | €4,000 | €37,500 | €49,800 | €71,500 | ▲ 43.6% |
| Amounts receivable within one year40/41 | €15,224 | €33,731 | €65,831 | €49,995 | €93,200 | €79,308 | ▼ 14.9% |
| Trade receivables40 | - | €26,053 | €55,263 | €27,726 | €81,221 | €58,610 | ▼ 27.8% |
| Other amounts receivable41 | - | €7,678 | €10,568 | €22,269 | €11,979 | €20,698 | ▲ 72.8% |
| Cash at bank and in hand54/58 | €11,570 | €7,007 | €9,567 | €25,751 | €17,879 | €17,846 | ▼ 0.2% |
| Deferred charges and accrued income490/1 | - | €1,949 | €1,974 | €1,645 | €6,341 | €7,466 | ▲ 17.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €55,748 | €91,417 | €103,133 | €186,453 | €233,025 | €240,909 | ▲ 3.4% |
| Equity10/15 | €26,109 | €29,517 | €37,562 | €46,142 | €55,424 | €65,774 | ▲ 18.7% |
| Contributions10/11 | - | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Reserves13 | €11,000 | €14,500 | €22,500 | €31,000 | €40,000 | €50,000 | ▲ 25.0% |
| Distributable reserves133 | - | €14,500 | €22,500 | €31,000 | €40,000 | €50,000 | ▲ 25.0% |
| Profit (loss) carried forward14 | €109 | €17 | €62 | €142 | €424 | €774 | ▲ 82.5% |
| Amounts payable17/49 | €29,639 | €61,900 | €65,571 | €140,311 | €177,601 | €175,135 | ▼ 1.4% |
| Amounts payable after more than one year17 | - | - | - | €30,073 | €22,609 | €15,399 | ▼ 31.9% |
| Financial debts170/4 | - | - | - | €30,073 | €22,609 | €15,399 | ▼ 31.9% |
| Amounts payable within one year42/48 | €28,889 | €55,477 | €65,571 | €110,238 | €154,992 | €159,736 | ▲ 3.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,046 | €6,903 | €7,210 | ▲ 4.4% |
| Trade debts44 | €7,916 | €5,735 | €37,690 | €57,022 | €57,556 | €56,999 | ▼ 1.0% |
| Suppliers440/4 | - | €5,735 | €37,690 | €57,022 | €57,556 | €56,999 | ▼ 1.0% |
| Advances received on contracts in progress46 | - | - | €11,000 | - | €3,500 | €4,892 | ▲ 39.8% |
| Taxes, remuneration and social security45 | - | €2,280 | €4,080 | €9,784 | €20,253 | €27,364 | ▲ 35.1% |
| Taxes450/3 | - | €2,280 | €3,056 | €7,155 | €10,645 | €13,545 | ▲ 27.2% |
| Remuneration and social security454/9 | - | - | €1,024 | €2,629 | €9,608 | €13,819 | ▲ 43.8% |
| Other amounts payable47/48 | - | €47,462 | €12,801 | €37,386 | €66,780 | €63,271 | ▼ 5.3% |
| Accrued charges and deferred income492/3 | - | €6,423 | - | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,109 | €3,408 | €8,045 | €8,580 | €9,282 | €10,350 | ▲ 11.5% |
| + Depreciation and write-downs630 | €1,246 | €2,388 | €4,062 | €7,042 | €14,753 | €14,161 | ▼ 4.0% |
| Operating cash flow (approximation) | €12,355 | €5,796 | €12,107 | €15,622 | €24,035 | €24,511 | ▲ 2.0% |
| Investment in fixed assets (approximation) | - | €0 | -€12,600 | -€41,385 | -€3,791 | -€13,371 | ▼ 253% |
| Change in cash | - | -€4,563 | €2,560 | €16,184 | -€7,872 | -€33 | ▲ 99.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,274 companies had the same profile as SANIGERA TECH has now. Two years later, 94.7% were still going and 2.5% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
94.7%
was still going
2.5%
stopped otherwise
2.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SANIGERA TECH itself: 1.0% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,274 companies, not a prediction for SANIGERA TECH. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00165723 | |
| 31-12-2024 | micro format | 07-05-2025 | 2025-00092764 | |
| 31-12-2023 | micro format | 19-08-2024 | 2024-00370493 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00441890 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20357287 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65800541 |