SANIPLUS
ActiveSummary
SANIPLUS has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€12,765) and a net result of €3,431. Equity is shrinking by ~28.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 2076 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+18
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.5 against 0.44 in 2024; short-term debt: 198.3% and cash: 92.8% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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
Specialised construction activities (NACE 43)
about 85% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-98.3%
Return on assets
26.4%
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 5% of 2076 sector peers (2025).
NBB · sector comparisonPosition among 2076 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
2 d late
2023
18 d late
2022
56 d late
2021
30 d late
2020
23 d late
2019
58 d late
← 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 26 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 19 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#10 oldest company in Waterloo, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3,431▲ 54.0%
2024 · €2,228
Working capital
-€12,765▲ 21.2%
2024 · -€16,196
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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-€7,686▼ 32.1%-€743▲ 90.3%-€4,356▼ 486%€2,353€3,431▲ 45.8%
Net result-€7,751below the sector's middle half▼ 30.8%-€798below the sector's middle half▲ 89.7%-€4,731below the sector's middle half▼ 493%€2,228within the sector's middle half€3,431within the sector's middle half▲ 54.0%
Equity-€12,895below the sector's middle half▼ 151%-€13,693below the sector's middle half▼ 6.2%-€18,424below the sector's middle half▼ 34.6%-€16,196below the sector's middle half▲ 12.1%-€12,765below the sector's middle half▲ 21.2%
Total assets€16,487below the sector's middle half▲ 32.9%€13,029below the sector's middle half▼ 21.0%€7,424below the sector's middle half▼ 43.0%€12,614below the sector's middle half▲ 69.9%€12,985below the sector's middle half▲ 2.9%
Debt€29,382▲ 67.4%€26,722▼ 9.1%€25,848▼ 3.3%€28,810▲ 11.5%€25,750▼ 10.6%
Working capital-€12,895below the sector's middle half▼ 151%-€13,693below the sector's middle half▼ 6.2%-€18,424below the sector's middle half▼ 34.6%-€16,196below the sector's middle half▲ 12.1%-€12,765below the sector's middle half▲ 21.2%
Solvency-78.2%below the sector's middle half▼ 36.8pp-105.1%below the sector's middle half▼ 26.9pp-248.2%below the sector's middle half▼ 143.1pp-128.4%below the sector's middle half▲ 119.8pp-98.3%below the sector's middle half▲ 30.1pp
Current ratio0.56below the sector's middle half▼ 0.150.49below the sector's middle half▼ 0.070.29below the sector's middle half▼ 0.200.44below the sector's middle half▲ 0.150.50below the sector's middle half▲ 0.07
Return on assets (ROA)-47.0%below the sector's middle half▲ 0.8pp-6.1%below the sector's middle half▲ 40.9pp-63.7%below the sector's middle half▼ 57.6pp17.7%above the sector's middle half▲ 81.4pp26.4%above the sector's middle half▲ 8.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 46% above 2024 and is the highest result in the available series.
Key figures and ratios
Debt to equity
-2.02▼
2024 · -1.78
Debt ≤ 1 year
€25,750▼
2024 · €28,810
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,338 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% | 1.9% |
| 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 3,795 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €6,000 | €4,000 | - | - | - | - |
| Gross operating margin9900 | -€1,686 | €3,257 | -€4,356 | €2,353 | €3,431 | ▲ 45.8% |
| Operating profit (loss)9901 | -€7,686 | -€743 | -€4,356 | €2,353 | €3,431 | ▲ 45.8% |
| Financial charges65/66B | €65 | €55 | €375 | €125 | - | - |
| Recurring financial charges65 | €65 | €55 | €375 | €125 | - | - |
| Profit (loss) for the period before taxes9903 | -€7,751 | -€798 | -€4,731 | €2,228 | €3,431 | ▲ 54.0% |
| Profit (loss) for the period9904 | -€7,751 | -€798 | -€4,731 | €2,228 | €3,431 | ▲ 54.0% |
| Profit (loss) for the period to be appropriated9905 | -€7,751 | -€798 | -€4,731 | €2,228 | €3,431 | ▲ 54.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €16,487 | €13,029 | €7,424 | €12,614 | €12,985 | ▲ 2.9% |
| Current assets29/58 | €16,487 | €13,029 | €7,424 | €12,614 | €12,985 | ▲ 2.9% |
| Amounts receivable within one year40/41 | €457 | €1,388 | €594 | €579 | €938 | ▲ 62.0% |
| Trade receivables40 | - | €899 | - | - | €331 | - |
| Other amounts receivable41 | €457 | €489 | €594 | €579 | €607 | ▲ 4.8% |
| Cash at bank and in hand54/58 | €16,030 | €11,641 | €6,830 | €12,035 | €12,047 | ▲ 0.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €16,487 | €13,029 | €7,424 | €12,614 | €12,985 | ▲ 2.9% |
| Equity10/15 | -€12,895 | -€13,693 | -€18,424 | -€16,196 | -€12,765 | ▲ 21.2% |
| Contributions10/11 | €10,659 | €10,659 | €10,659 | €10,659 | €10,659 | = |
| Capital10 | €10,659 | €10,659 | €10,659 | €10,659 | €10,659 | = |
| Issued capital100 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Uncalled capital101 | €7,933 | €7,933 | €7,933 | €7,933 | €7,933 | = |
| Reserves13 | €930 | €930 | €930 | €930 | €930 | = |
| Non-distributable reserves130/1 | €930 | €930 | €930 | €930 | €930 | = |
| Legal reserve130 | €930 | €930 | €930 | €930 | €930 | = |
| Profit (loss) carried forward14 | -€24,484 | -€25,282 | -€30,013 | -€27,785 | -€24,354 | ▲ 12.3% |
| Amounts payable17/49 | €29,382 | €26,722 | €25,848 | €28,810 | €25,750 | ▼ 10.6% |
| Amounts payable within one year42/48 | €29,382 | €26,722 | €25,848 | €28,810 | €25,750 | ▼ 10.6% |
| Trade debts44 | €781 | €3,776 | €498 | €1,910 | €2,045 | ▲ 7.1% |
| Suppliers440/4 | €781 | €3,776 | €498 | €1,910 | €2,045 | ▲ 7.1% |
| Other amounts payable47/48 | €28,601 | €22,946 | €25,350 | €26,900 | €23,705 | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,751 | -€798 | -€4,731 | €2,228 | €3,431 | ▲ 54.0% |
| Operating cash flow (approximation) | -€7,751 | -€798 | -€4,731 | €2,228 | €3,431 | ▲ 54.0% |
| Change in cash | - | -€4,389 | -€4,811 | €5,205 | €12 | ▼ 99.8% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €3,431 ▲54%
Operating result €3,431, net result €3,431, both a record.
02-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 2 days late
2024
31-12
Financial
Back to profitnet €2,228
Net result €2,228 after 6 loss-making years.
18-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 18 days late
2023
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 56 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Weakest financial yearnet -€7,751
Net result drops to -€7,751, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 23 days late
2020
27-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 58 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 26 days late
2018
08-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 39 days late
2017
26-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 26 days late
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, Waterloo · 1 establishment unit since 1985
Ground area
287 m²
Building footprint
41 m²
Volume, LiDAR
256 m³
Parcel 25110S0127/00M000, Wallonia · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Forêt de Soignes 4, 1410 Waterloo
since 19852.027.764.808
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110S0127/00M000 | Wallonia | 287 m² | 1 · 41 m² | 8.1 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.
Similar companies · same sector, comparable size
IBS Construct
BE 0750.940.841
Essen · Eq €798
PIPECARE
BE 1019.287.183
Temse · Eq €800
THIZOU
BE 0731.752.954
Kraainem · Eq €755
ANDRE
BE 0433.058.874
Chaudfontaine · Eq €709
TOITURES O M CONCEPT
BE 0480.118.029
Les Bons Villers · Eq €869
Of 7,044 companies in sector 43221 we hold annual accounts for 3,477. 208 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 (pre-2019)
Founded20-06-1985
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427492757
Also
9925:BE0427492757
Registered
28-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.