SANITAIR EXPRESS · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of SANITAIR EXPRESS is 1.9% (moderate). The 2025 annual accounts show equity of €108k and a net result of €22k. Equity is growing by ~28.2% per year across the filed fiscal years. Its solvency ranks better than 87% of 2905 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Signals

3 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 87% of 2905 peers (2025). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Filed after the deadline

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 21-05-2026, 21 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.

The next deadline is still running

The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 5 filed financial years, each closing on 30-09. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-09-2025, that is 30-04-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-09-2025	30-04-2026	21-05-2026	21 d late	2026-00116546
30-09-2024	30-04-2025	23-05-2025	23 d late	2025-00103481
30-09-2023	30-04-2024	30-05-2024	30 d late	2024-00100905
30-09-2022	30-04-2023	24-05-2023	24 d late	2023-00096809
30-09-2021	30-04-2022	25-05-2022	25 d late	2022-20034274

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.9% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€22k-1.1%

Working capital€94k+51.8%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 21-05-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~28.2%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	77.8%	43.4%	better than 87% of 2905 sector peers
Net result	€22k	€13k	better than 61% of 2904 sector peers
Equity	€108k	€44k	better than 79% of 2905 sector peers
Gross operating margin	€39k	€39k	better than 50% of 2902 sector peers
Total assets	€139k	€115k	better than 58% of 2905 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P87

Improving position over 2021-2025 · n=2905-11120

Net result P61

Weakening position over 2021-2025 · n=2904-11103

Equity P79

Improving position over 2021-2025 · n=2905-11124

Gross operating margin P50

Stable position over 2021-2025 · n=2902-11092

Describes the position versus peers, not a forecast.

EBITDA

€38k

+2.5% 21-25

Net profit

€22k

-1.1% 21-25

Cash flow

€32k

+4.4% 21-25

Total assets

€139k

+24.3% 21-25

Equity

€108k

+25.2% 21-25

Working capital

€94k

+51.8% 21-25

Income taxes

€7k

-1.4% 21-25

Debt

€31k

+21.2% 21-25

Show 9 other metrics

Debt ≤ 1y

€31k

+21.2% 21-25

Debt > 1y

€8k

-49.6% 21-25

Current ratio

4.04

+17.9% 21-25

Quick ratio

4.02

+18.1% 21-25

Solvency

77.8%

+0.7% 21-25

Debt / equity

0.29

-3.3% 21-25

ROE

20.2%

-21.1% 21-25

ROA

15.7%

-20.5% 21-25

Interest coverage

187.18

+53.0% 21-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€38k
Net profit	€22k
Cash flow	€32k
Staff costs	-
Income taxes	€7k
Dividends	-
Total assets	€139k
Equity	€108k
Debt	€31k
of which ≤ 1y	€31k
of which > 1y	-
Working capital	€94k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	4.04
Quick ratio	4.02
Working capital ratio	67.4%
Solvency	77.8%
Debt / equity	0.29
Long-term debt ratio	-
Interest coverage	187.18
Gross margin	-
Net margin	-
ROA	15.7%
ROE	20.2%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €14k · 10.4% Current assets €124k · 89.6%

Equity & liabilities

Equity €108k · 77.8% Debt €31k · 22.2%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€139k
Fixed assets	21/28	€14k
Tangible fixed assets	22/27	€14k
Financial fixed assets	28	€45
Current assets	29/58	€124k
Stocks & contracts in progress	3	€500
Amounts receivable within one year	40/41	€13k
Investments	50/53	€96k
Cash & bank	54/58	€14k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€139k
Equity	10/15	€108k
Contributions / capital	10/11	€3k
Reserves	13	€106k
Amounts payable	17/49	€31k
Amounts payable within one year	42/48	€31k
Trade debts payable within one year	44	€3k
Income statement
Gross operating margin	9900	€39k
Operating result	9901	€28k
Financial income	75	€924
Financial charges	65	€203
Result before taxes	9903	€29k
Income taxes	67/77	€7k
Net result for the period	9904	€22k
Result to be appropriated	9905	€22k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

93 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

SANITAIR EXPRESS

Meidoornstraat(WEB) 25, 3290 DiestInstallatie van elektrische bedrading en toebehoren

since 20202.307.932.480

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area334 m²

Buildings1

Building footprint122 m²

Volume (LiDAR)616 m³

Tallest building8.7 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)