SANORE
ActiveSummary
SANORE has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €429,152 and a net result of €9,184. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 95% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+4
Solvency100=
Growth55=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 87.23 against 13.93 in 2024; short-term debt: 0.2% and cash: 1.1% of total assets), and 0.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · 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
99.8%
Return on assets
2.1%
Age of the figures
9 mo
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 19-05-2026, 73 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
73 d early
2024
61 d early
2023
3 d early
2022
6 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 36 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€73,516▲ 16.2%
2024 · €63,253
EBIT margin
12.4%▲ 26.7pp
2024 · -14.3%
Net result
€9,184
2024 · -€8,998
Working capital
€76,830▲ 91.1%
2024 · €40,196
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line2022202320242025
Turnover€24,240-€65,324▲ 169%€63,253▼ 3.2%€73,516▲ 16.2%
Operating result€19,865--€15,231-€9,039▲ 40.7%€9,113
Net result€19,865within the sector's middle half--€20,359within the sector's middle half-€8,998within the sector's middle half▲ 55.8%€9,184within the sector's middle half
EBIT margin82.0%--23.3%▼ 105.3pp-14.3%▲ 9.0pp12.4%▲ 26.7pp
Equity€449,325within the sector's middle half-€428,966within the sector's middle half▼ 4.5%€419,968within the sector's middle half▼ 2.1%€429,152within the sector's middle half▲ 2.2%
Total assets€457,335below the sector's middle half-€439,972below the sector's middle half▼ 3.8%€423,082below the sector's middle half▼ 3.8%€430,052below the sector's middle half▲ 1.6%
Debt€8,010-€11,006▲ 37.4%€3,114▼ 71.7%€900▼ 71.1%
Working capital€14,178within the sector's middle half-€21,554within the sector's middle half▲ 52.0%€40,196within the sector's middle half▲ 86.5%€76,830within the sector's middle half▲ 91.1%
Solvency98.2%above the sector's middle half-97.5%above the sector's middle half▼ 0.8pp99.3%above the sector's middle half▲ 1.8pp99.8%above the sector's middle half▲ 0.5pp
Current ratio2.77within the sector's middle half-2.96within the sector's middle half▲ 0.1913.93above the sector's middle half▲ 10.9787.23above the sector's middle half▲ 73.30
Return on assets (ROA)4.3%within the sector's middle half--4.6%below the sector's middle half▼ 9.0pp-2.1%below the sector's middle half▲ 2.5pp2.1%within the sector's middle half▲ 4.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9,113 after a loss of €9,039 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €430,052
Fixed assets
€352,331 ▼ 7.2%
Current assets
€77,721 ▲ 79.5%
Equity and liabilities €430,052
Equity
€429,152 ▲ 2.2%
Debt
€900 ▼ 71.1%
Debt's share of the balance-sheet total falls from 0.7% to 0.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€36,559▲
2024 · €18,605
Cash flow
€36,630▲
2024 · €18,646
Debt to equity
0.00▼
2024 · 0.01
ROE
2.1%▲
2024 · -2.1%
Interest coverage
870.45▲
2024 · 531.57
Debt ≤ 1 year
€891▼
2024 · €3,109
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,549 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
1.8%
went bankrupt
3.1%
stopped otherwise
94%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 2,549 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €24,240 | €65,324 | €63,253 | €73,516 | ▲ 16.2% |
| Non-recurring operating income76A | €19,682 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €9,134 | €46,800 | €38,498 | €30,614 | ▼ 20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,995 | €27,843 | €27,644 | €27,446 | ▼ 0.7% |
| Other operating charges640/8 | €928 | €5,912 | €6,150 | €6,343 | ▲ 3.1% |
| Gross operating margin9900 | €34,788 | €18,524 | €24,755 | €42,902 | ▲ 73.3% |
| Operating profit (loss)9901 | €19,865 | -€15,231 | -€9,039 | €9,113 | ▲ 201% |
| Financial income75/76B | - | €95 | €71 | €113 | ▲ 59.2% |
| Recurring financial income75 | - | €95 | €71 | €113 | ▲ 59.2% |
| Financial charges65/66B | - | €7 | €35 | €42 | ▲ 20.0% |
| Recurring financial charges65 | - | €7 | €35 | €42 | ▲ 20.0% |
| Profit (loss) for the period before taxes9903 | €19,865 | -€15,143 | -€9,003 | €9,184 | ▲ 202% |
| Income taxes67/77 | - | €5,216 | -€5 | - | - |
| Profit (loss) for the period9904 | €19,865 | -€20,359 | -€8,998 | €9,184 | ▲ 202% |
| Profit (loss) for the period to be appropriated9905 | €19,865 | -€20,359 | -€8,998 | €9,184 | ▲ 202% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €457,335 | €439,972 | €423,082 | €430,052 | ▲ 1.6% |
| Fixed assets21/28 | €435,147 | €407,421 | €379,777 | €352,331 | ▼ 7.2% |
| Tangible fixed assets22/27 | €435,147 | €407,304 | €379,660 | €352,214 | ▼ 7.2% |
| Land and buildings22 | €408,985 | €383,272 | €357,560 | €331,848 | ▼ 7.2% |
| Plant, machinery and equipment23 | €26,162 | €24,032 | €22,100 | €20,366 | ▼ 7.8% |
| Financial fixed assets28 | - | €117 | €117 | €117 | = |
| Current assets29/58 | €22,188 | €32,551 | €43,305 | €77,721 | ▲ 79.5% |
| Amounts receivable within one year40/41 | €22,188 | €18,211 | €30,872 | €53,900 | ▲ 74.6% |
| Trade receivables40 | €2,904 | €968 | €726 | €25,414 | ▲ 3,401% |
| Other amounts receivable41 | €19,284 | €17,243 | €30,146 | €28,486 | ▼ 5.5% |
| Current investments50/53 | - | €11,540 | €8,600 | €18,671 | ▲ 117% |
| Cash at bank and in hand54/58 | - | €944 | €3,817 | €4,695 | ▲ 23.0% |
| Deferred charges and accrued income490/1 | - | €1,856 | €16 | €455 | ▲ 2,744% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €457,335 | €439,972 | €423,082 | €430,052 | ▲ 1.6% |
| Equity10/15 | €449,325 | €428,966 | €419,968 | €429,152 | ▲ 2.2% |
| Contributions10/11 | €113,900 | €113,900 | €113,900 | €113,900 | = |
| Reserves13 | €185,809 | €185,809 | €185,809 | €185,809 | = |
| Tax-exempt reserves132 | €137,295 | €137,295 | €137,295 | €137,295 | = |
| Distributable reserves133 | €48,514 | €48,514 | €48,514 | €48,514 | = |
| Profit (loss) carried forward14 | €149,616 | €129,257 | €120,259 | €129,443 | ▲ 7.6% |
| Amounts payable17/49 | €8,010 | €11,006 | €3,114 | €900 | ▼ 71.1% |
| Amounts payable within one year42/48 | €8,010 | €10,997 | €3,109 | €891 | ▼ 71.3% |
| Trade debts44 | €7,517 | €1,263 | - | €363 | - |
| Suppliers440/4 | €7,517 | €1,263 | - | €363 | - |
| Taxes, remuneration and social security45 | €493 | €5,396 | €37 | €248 | ▲ 570% |
| Taxes450/3 | €323 | €5,396 | €37 | €248 | ▲ 570% |
| Remuneration and social security454/9 | €170 | - | - | - | - |
| Other amounts payable47/48 | - | €4,338 | €3,072 | €280 | ▼ 90.9% |
| Accrued charges and deferred income492/3 | - | €9 | €5 | €9 | ▲ 80.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,865 | -€20,359 | -€8,998 | €9,184 | ▲ 202% |
| + Depreciation and write-downs630 | €13,995 | €27,843 | €27,644 | €27,446 | ▼ 0.7% |
| Operating cash flow (approximation) | €33,860 | €7,484 | €18,646 | €36,630 | ▲ 96.4% |
| Investment in fixed assets (approximation) | - | -€117 | €0 | €0 | - |
| Change in cash | - | - | €2,873 | €878 | ▼ 69.4% |
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
19-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €9,184
Net result €9,184 after 2 loss-making years.
31-12
Financial
Liquidity times 6current ratio 87.23
Current ratio from 13.93 to 87.23; short-term debt falls from €3,109 to €891.
31-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity times 5current ratio 13.93
Current ratio from 2.96 to 13.93; short-term debt falls from €10,997 to €3,109.
28-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€20,359
Net result drops to -€20,359, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · full 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, Saint-Ghislain · 1 establishment unit since 2022
Ground area
211 m²
Parcel 53075C0155/00W002, Wallonia. Linked by address, not a title deed.
1 establishment unit
SANORE
since 20222.339.804.207
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53075C0155/00W002indicative | Wallonia | 211 m² | - | - |
Linked by address, not proof of ownership
Good to know
0 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
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IMMO4V
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BRESCO
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MONA
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 5,048 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
Founded23-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Contact
E-mail
atelierceci@skynet.be
Phone
+32472865670
E-invoicing
Reachable via Peppol
Peppol ID
0208:0795299139
Also
9925:BE0795299139
Registered
22-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.