SAPHIRA
ActiveSAPHIRA has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €260k and a net result of €12k. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 82% of 7318 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
83
/ 100
Excellent= vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability24▼-6
Solvency100=
Growth52=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity ample (current ratio 4.85 against 8.07 in 2024), and 25.2% of the assets are financed with debt.
Credit advice for your own amount and term
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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
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
74.8%
Return on assets
3.6%
Age of the figures
8 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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
7 d early
2023
28 d late
2022
30 d late
2021
3 d early
2020
26 d late
2019
54 d late
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€260k▼ 19.1%
2024 · €321k
2018: €120k
2019: €193k
2020: €240k
2021: €279k
2022: €302k
2023: €321k
2024: €321k
2018 → 2025
Total assets
€347k▼ 5.8%
2024 · €368k
2018: €184k
2019: €271k
2020: €303k
2021: €394k
2022: €390k
2023: €372k
2024: €368k
2018 → 2025
Net result
€12k▼ 36.2%
2024 · €19k
2018: €27k
2019: €73k
2020: €52k
2021: €39k
2022: €46k
2023: €36k
2024: €19k
2018 → 2025
Working capital
€240k▼ 17.7%
2024 · €292k
2018: €103k
2019: €163k
2020: €217k
2021: €221k
2022: €253k
2023: €284k
2024: €292k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€279k-€302k▲ 8.1%€321k▲ 6.5%€321k▼ 0.1%€260k▼ 19.1%
Operating result€48k-€59k▲ 22.8%€49k▼ 17.3%€26k▼ 46.2%€-285
Net result€39k-€46k▲ 17.7%€36k▼ 22.3%€19k▼ 45.4%€12k▼ 36.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €285 after €26k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €347k
Fixed assets
€45k▲ 26.1%
Current assets
€302k▼ 9.2%
Equity and liabilities €347k
Equity
€260k▼ 19.1%
Debt
€87k▲ 84.1%
The debt ratio rises from 12.9% to 25.2%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€30k▼
2024 · €52k
Cash flow
€42k▼
2024 · €45k
Solvency
74.8%▼
2024 · 87.1%
Current ratio
4.85▼
2024 · 8.07
Quick ratio
4.71▼
2024 · 7.37
Debt / equity
0.34▲
2024 · 0.15
ROE
4.8%▼
2024 · 6.0%
ROA
3.6%▼
2024 · 5.3%
Interest coverage
15.27▼
2024 · 45.51
Debt
€87k▲
2024 · €47k
Debt ≤ 1 year
€62k▲
2024 · €41k
Debt > 1 year
€25k▲
2024 · €6k
Income taxes
€4k▼
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€368k€347k▼
Fixed assets21/28€35k€45k▲
Tangible fixed assets22/27€35k€45k▲
Land and buildings22€2k€2k▼
Plant, machinery and equipment23€15k€8k▼
Furniture and vehicles24€19k€35k▲
Current assets29/58€333k€302k▼
Stocks and contracts in progress3€29k€9k▼
Stocks30/36€8k€8k=
Contracts in progress37€21k€1k▼
Amounts receivable within one year40/41€35k€22k▼
Trade receivables40€691€15k▲
Other amounts receivable41€35k€7k▼
Cash at bank and in hand54/58€267k€270k▲
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€368k€347k▼
Equity10/15€321k€260k▼
Contributions10/11€24k€24k=
Reserves13€286k€225k▼
Distributable reserves133€286k€225k▼
Profit (loss) carried forward14€10k€10k=
Amounts payable17/49€47k€87k▲
Amounts payable after more than one year17€6k€25k▲
Financial debts170/4€6k€25k▲
Amounts payable within one year42/48€41k€62k▲
Current portion of amounts payable after more than one year42€16k€13k▼
Trade debts44€12k€8k▼
Suppliers440/4€12k€8k▼
Taxes, remuneration and social security45€13k€8k▼
Taxes450/3€13k€8k▼
Other amounts payable47/48-€33k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€30k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€54k€31k▼
Operating profit (loss)9901€26k€-285▼
Financial income75/76B€2k€19k▲
Recurring financial income75€2k€2k▲
Non-recurring financial income76B-€17k
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€27k€17k▼
Income taxes67/77€8k€4k▼
Profit (loss) for the period9904€19k€12k▼
Profit (loss) for the period to be appropriated9905€19k€12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€30k€23k▼
Profit (loss) brought forward from the previous period14P€10k€10k=
Transfer from equity791/2€20k€74k▲
Transfer to equity691/2€19k€12k▼
To other reserves6921€19k€12k▼
Profit to be distributed694/7€20k€74k▲
Return on contributions (dividend)694€20k€74k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €12k ▼36.2%
Net result drops to €12k, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Equity above €200kEq €240k ▲24.5%
3 profitable years in a row build equity to €240k.
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 54 days late
2019
31-12
Financial
Highest result since 2018net €73k ▲174%
Operating result €101k, net result €73k, both a record.
31-12
Financial
Equity above €150kEq €193k ▲60.7%
2 profitable years in a row build equity to €193k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are 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, Ninove · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Tenberg 949402 NinoveGround area
2,810 m²
Building footprint
510 m²
Volume, LiDAR
2,412 m³
2 parcels, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Edingsesteenweg 200, 9402 Ninove
since 20032.127.169.319
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41038B0661/00H000 | Flanders | 2,619 m² | 1 · 256 m² | 7.5 m · 2 fl. |
| 41038A0601/00E003 | Flanders | 191 m² | 1 · 255 m² | 10.6 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
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VERBOUWINGSWERKEN BOUDOLF
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ERIC PEETERS & C°
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Of 29,535 companies in sector 41001 we hold annual accounts for 15,872. 11,277 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-02-2003
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.