SANISA
ActiveSummary
SANISA has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €72k and a net result of €-3k. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 47% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▲+7
Solvency51▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity short (current ratio 0.35 against 0.41 in 2024; short-term debt: 6.3% and cash: 1.9% of total assets), and 74.2% of the assets are financed with debt.
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Signals
Six 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
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
25.8%
Return on assets
-1%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-3k
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
44 d early
2023
58 d early
2022
4 d early
2021
32 d early
2020
25 d early
2019
32 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-3k▲ 40.3%
2024 · €-5k
Working capital
€-12k▼ 13.5%
2024 · €-10k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3k€6k▲ 94.0%€-6k€-1k▲ 82.7%€472
Net result€2k€5k▲ 223%€-8k€-5k▲ 41.4%€-3k▲ 40.3%
Equity€94k▲ 1.8%€117k▲ 24.0%€80k▼ 31.6%€75k▼ 6.0%€72k▼ 3.8%
Total assets€179k▼ 7.1%€169k▼ 5.4%€327k▲ 93.5%€304k▼ 7.2%€281k▼ 7.4%
Debt€64k▼ 19.2%€52k▼ 18.8%€220k▲ 322%€202k▼ 7.9%€184k▼ 9.1%
Working capital€-2k€-5k€-10k▼ 90.2%€-12k▼ 13.5%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €472 after a loss of €1k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €281k
Fixed assets
€275k ▼ 7.3%
Current assets
€6k ▼ 12.8%
Equity and liabilities €281k
Equity
€72k ▼ 3.8%
Provisions
€25k ▼ 4.8%
Debt
€184k ▼ 9.1%
Debt's share of the balance-sheet total falls from 66.6% to 65.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€22k▲
2024 · €21k
Cash flow
€19k▲
2024 · €17k
Current ratio
0.35▼
2024 · 0.41
Debt to equity
2.54▼
2024 · 2.69
ROE
-4.0%▲
2024 · -6.4%
ROA
-1.0%▲
2024 · -1.6%
Interest coverage
4.82▲
2024 · 4.09
Debt ≤ 1 year
€18k▲
2024 · €17k
Debt > 1 year
€166k▼
2024 · €185k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €15k | €21k | €22k | €22k | = |
| Other operating charges640/8 | €1k | €960 | €2k | €2k | €2k | ▲ 3.1% |
| Gross operating margin9900 | €18k | €22k | €17k | €23k | €24k | ▲ 6.8% |
| Operating profit (loss)9901 | €3k | €6k | €-6k | €-1k | €472 | ▲ 147% |
| Financial income75/76B | - | - | €0 | - | - | - |
| Recurring financial income75 | - | - | €0 | - | - | - |
| Financial charges65/66B | €1k | €596 | €4k | €5k | €5k | ▼ 9.0% |
| Recurring financial charges65 | €1k | €596 | €4k | €5k | €5k | ▼ 9.0% |
| Profit (loss) for the period before taxes9903 | €2k | €5k | €-9k | €-6k | €-4k | ▲ 31.9% |
| Transfer from deferred taxes780 | - | - | €1k | €1k | €1k | = |
| Profit (loss) for the period9904 | €2k | €5k | €-8k | €-5k | €-3k | ▲ 40.3% |
| Transfer from tax-exempt reserves789 | €3k | - | €4k | €4k | €4k | = |
| Profit (loss) for the period to be appropriated9905 | €5k | €5k | €-4k | €-1k | €892 | ▲ 186% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €179k | €169k | €327k | €304k | €281k | ▼ 7.4% |
| Fixed assets21/28 | €161k | €162k | €318k | €297k | €275k | ▼ 7.3% |
| Tangible fixed assets22/27 | €161k | €162k | €318k | €297k | €275k | ▼ 7.3% |
| Land and buildings22 | €161k | €162k | €318k | €297k | €275k | ▼ 7.3% |
| Current assets29/58 | €18k | €7k | €9k | €7k | €6k | ▼ 12.8% |
| Amounts receivable after more than one year29 | €552 | - | - | - | - | - |
| Other amounts receivable291 | €552 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €17k | €6k | €8k | €6k | €5k | ▼ 15.4% |
| Deferred charges and accrued income490/1 | €734 | €806 | €934 | €954 | €996 | ▲ 4.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €179k | €169k | €327k | €304k | €281k | ▼ 7.4% |
| Equity10/15 | €94k | €117k | €80k | €75k | €72k | ▼ 3.8% |
| Contributions10/11 | €25k | €25k | €25k | €25k | €25k | = |
| Reserves13 | €99k | €116k | €84k | €80k | €76k | ▼ 4.7% |
| Non-distributable reserves130/1 | €1k | €1k | - | - | - | - |
| Reserves not available under the articles1311 | €1k | €1k | - | - | - | - |
| Tax-exempt reserves132 | €98k | €115k | €83k | €79k | €75k | ▼ 4.8% |
| Distributable reserves133 | - | - | €1k | €1k | €1k | = |
| Profit (loss) carried forward14 | €-29k | €-24k | €-29k | €-30k | €-29k | ▲ 3.0% |
| Provisions and deferred taxes16 | €20k | - | €28k | €26k | €25k | ▼ 4.8% |
| Deferred taxes168 | €20k | - | €28k | €26k | €25k | ▼ 4.8% |
| Amounts payable17/49 | €64k | €52k | €220k | €202k | €184k | ▼ 9.1% |
| Amounts payable after more than one year17 | €43k | €51k | €205k | €185k | €166k | ▼ 10.2% |
| Financial debts170/4 | - | - | €205k | €185k | €166k | ▼ 10.2% |
| Other amounts payable178/9 | €43k | €51k | - | - | - | - |
| Amounts payable within one year42/48 | €20k | - | €14k | €17k | €18k | ▲ 2.6% |
| Current portion of amounts payable after more than one year42 | €20k | - | €13k | €14k | €15k | ▲ 4.2% |
| Trade debts44 | €0 | - | - | €2k | €3k | ▲ 19.8% |
| Suppliers440/4 | €0 | - | - | €2k | €3k | ▲ 19.8% |
| Other amounts payable47/48 | - | - | €768 | €988 | €414 | ▼ 58.1% |
| Accrued charges and deferred income492/3 | €928 | €948 | €75 | €85 | €85 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €5k | €-8k | €-5k | €-3k | ▲ 40.3% |
| + Depreciation and write-downs630 | €13k | €15k | €21k | €22k | €22k | = |
| Operating cash flow (approximation) | €15k | €20k | €12k | €17k | €19k | ▲ 11.5% |
| Investment in fixed assets (approximation) | - | €-16k | €-177k | €0 | €0 | - |
| Change in cash | - | €-11k | €2k | €-2k | €-951 | ▲ 48.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €5k ▲223%
Operating result €6k, net result €5k, both a record.
31-12
Financial
Equity above €100kEq €117k ▲24%
2 profitable years in a row build equity to €117k.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 1.13
Current ratio from 0.54 to 1.13.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
Show earlier events
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Arlon
Ground area
1,080 m²
Building footprint
163 m²
Volume, LiDAR
921 m³
Parcel 81011C1599/00R007, Wallonia · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 81011C1599/00R007 | Wallonia | 1,079 m² | 1 · 162 m² | 8.2 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.
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Of 12,041 companies in sector 68203 we hold annual accounts for 5,989. 3,490 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
Founded06-05-1999
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.