SAPI PLANT
ActiveSummary
SAPI PLANT has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€12,117) and a net result of €1,693. Equity is shrinking by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 1223 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability55▼-29
Solvency0=
Growth38=
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 0.66 against 0.67 in 2024; short-term debt: 151.1% and cash: 0% of total assets), and equity is negative.
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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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% 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
-51.1%
Return on assets
7.1%
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 1223 sector peers (2025).
NBB · sector comparisonPosition among 1223 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 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.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
4 d late
2023
30 d late
2022
29 d late
2021
38 d late
2020
60 d late
2019
61 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 33 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% 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 29 August (5 of the last 5 filed years within 30 days of that day).
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, abbreviated schema
Turnover
€22,796▼ 26.4%
2021 · €30,955
EBIT margin
33.3%▲ 71.1pp
2021 · -37.8%
Net result
€1,693▼ 67.7%
2024 · €5,235
Working capital
-€12,117▲ 12.3%
2024 · -€13,810
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape 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
Turnover€30,955▼ 67.4%€22,796▼ 26.4%
Operating result-€11,707€7,594-€4,086€6,698€2,628▼ 60.8%
Net result-€13,247below the sector's middle half€6,106within the sector's middle half-€5,457below the sector's middle half€5,235within the sector's middle half€1,693below the sector's middle half▼ 67.7%
EBIT margin-37.8%▼ 42.7pp33.3%▲ 71.1pp
Equity-€19,694below the sector's middle half▼ 205%-€13,588below the sector's middle half▲ 31.0%-€19,045below the sector's middle half▼ 40.2%-€13,810below the sector's middle half▲ 27.5%-€12,117below the sector's middle half▲ 12.3%
Total assets€56,906below the sector's middle half▲ 43.7%€36,423below the sector's middle half▼ 36.0%€15,579below the sector's middle half▼ 57.2%€28,044below the sector's middle half▲ 80.0%€23,711below the sector's middle half▼ 15.5%
Debt€76,600▲ 66.4%€50,011▼ 34.7%€34,624▼ 30.8%€41,854▲ 20.9%€35,828▼ 14.4%
Working capital-€20,293below the sector's middle half▼ 317%-€13,888below the sector's middle half▲ 31.6%-€19,045below the sector's middle half▼ 37.1%-€13,810below the sector's middle half▲ 27.5%-€12,117below the sector's middle half▲ 12.3%
Solvency-34.6%below the sector's middle half▼ 18.3pp-37.3%below the sector's middle half▼ 2.7pp-122.2%below the sector's middle half▼ 84.9pp-49.2%below the sector's middle half▲ 73.0pp-51.1%below the sector's middle half▼ 1.9pp
Current ratio0.74below the sector's middle half▼ 0.150.72below the sector's middle half▼ 0.010.45below the sector's middle half▼ 0.270.67below the sector's middle half▲ 0.220.66below the sector's middle half▼ 0.01
Return on assets (ROA)-23.3%below the sector's middle half▼ 27.8pp16.8%above the sector's middle half▲ 40.0pp-35.0%below the sector's middle half▼ 51.8pp18.7%above the sector's middle half▲ 53.7pp7.1%within the sector's middle half▼ 11.5pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 61% below 2024.
Key figures and ratios
Debt to equity
-2.96▲
2024 · -3.03
Debt ≤ 1 year
€35,828▼
2024 · €41,854
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
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 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 497,662 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 3,798 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €30,955 | €22,796 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €34,977 | €14,825 | - | - | - | - |
| Remuneration, social security and pensions62 | €91 | €1,201 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,455 | €299 | €299 | - | - | - |
| Other operating charges640/8 | €4,417 | €1,216 | €3,352 | €687 | - | - |
| Gross operating margin9900 | -€5,744 | €10,310 | -€435 | €7,385 | €2,628 | ▼ 64.4% |
| Operating profit (loss)9901 | -€11,707 | €7,594 | -€4,086 | €6,698 | €2,628 | ▼ 60.8% |
| Financial income75/76B | €31 | - | - | - | - | - |
| Recurring financial income75 | €31 | - | - | - | - | - |
| Financial charges65/66B | €2,032 | €1,488 | €1,371 | €1,463 | €935 | ▼ 36.1% |
| Recurring financial charges65 | €2,032 | €1,488 | €1,371 | €1,463 | €935 | ▼ 36.1% |
| Profit (loss) for the period before taxes9903 | -€13,708 | €6,106 | -€5,457 | €5,235 | €1,693 | ▼ 67.7% |
| Income taxes67/77 | -€461 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€13,247 | €6,106 | -€5,457 | €5,235 | €1,693 | ▼ 67.7% |
| Profit (loss) for the period to be appropriated9905 | -€13,247 | €6,106 | -€5,457 | €5,235 | €1,693 | ▼ 67.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €56,906 | €36,423 | €15,579 | €28,044 | €23,711 | ▼ 15.5% |
| Fixed assets21/28 | €599 | €300 | - | - | - | - |
| Tangible fixed assets22/27 | €599 | €300 | - | - | - | - |
| Plant, machinery and equipment23 | €599 | €300 | - | - | - | - |
| Current assets29/58 | €56,307 | €36,123 | €15,579 | €28,044 | €23,711 | ▼ 15.5% |
| Amounts receivable within one year40/41 | €52,746 | €36,121 | €15,577 | €28,042 | €23,709 | ▼ 15.5% |
| Trade receivables40 | €52,746 | €36,121 | €13,203 | €26,548 | €22,217 | ▼ 16.3% |
| Other amounts receivable41 | - | - | €2,374 | €1,494 | €1,492 | ▼ 0.1% |
| Cash at bank and in hand54/58 | €3,259 | €2 | €2 | €2 | €2 | = |
| Deferred charges and accrued income490/1 | €302 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €56,906 | €36,423 | €15,579 | €28,044 | €23,711 | ▼ 15.5% |
| Equity10/15 | -€19,694 | -€13,588 | -€19,045 | -€13,810 | -€12,117 | ▲ 12.3% |
| Contributions10/11 | €49,579 | €49,579 | €49,579 | €49,579 | €49,579 | = |
| Reserves13 | €50,263 | €50,263 | €50,263 | €50,263 | €50,263 | = |
| Non-distributable reserves130/1 | €4,958 | €4,958 | €4,958 | €4,958 | €4,958 | = |
| Reserves not available under the articles1311 | €4,958 | €4,958 | €4,958 | €4,958 | €4,958 | = |
| Tax-exempt reserves132 | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Distributable reserves133 | €36,305 | €36,305 | €36,305 | €36,305 | €36,305 | = |
| Profit (loss) carried forward14 | -€119,536 | -€113,430 | -€118,887 | -€113,652 | -€111,959 | ▲ 1.5% |
| Amounts payable17/49 | €76,600 | €50,011 | €34,624 | €41,854 | €35,828 | ▼ 14.4% |
| Amounts payable within one year42/48 | €76,600 | €50,011 | €34,624 | €41,854 | €35,828 | ▼ 14.4% |
| Current portion of amounts payable after more than one year42 | €3,635 | - | - | - | - | - |
| Financial debts43 | - | €8,738 | €1,513 | €7,825 | €8,776 | ▲ 12.2% |
| Credit institutions430/8 | - | €8,738 | €1,513 | €7,825 | €8,776 | ▲ 12.2% |
| Trade debts44 | €37,015 | €6,973 | - | - | - | - |
| Suppliers440/4 | €37,015 | €6,973 | - | - | - | - |
| Taxes, remuneration and social security45 | €1,537 | €617 | €46 | €965 | €670 | ▼ 30.6% |
| Taxes450/3 | €1,537 | €617 | €46 | €965 | €670 | ▼ 30.6% |
| Other amounts payable47/48 | €34,413 | €33,683 | €33,065 | €33,064 | €26,382 | ▼ 20.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,247 | €6,106 | -€5,457 | €5,235 | €1,693 | ▼ 67.7% |
| + Depreciation and write-downs630 | €1,455 | €299 | €299 | - | - | - |
| Operating cash flow (approximation) | -€11,792 | €6,405 | -€5,158 | €5,235 | €1,693 | ▼ 67.7% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - |
| Change in cash | - | -€3,257 | €0 | €0 | €0 | - |
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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 10 days late
2025
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
31-12
Financial
Back to profitnet €5,235
Net result €5,235 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
31-12
Financial
Back to profitnet €6,106
Net result €6,106 after one loss-making year.
07-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 38 days late
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 60 days late
2020
31-12
Financial
Back to profitnet €1,775
Net result €1,775 after 2 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 61 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Braives · 1 establishment unit since 1999
Ground area
3,404 m²
Building footprint
210 m²
Volume, LiDAR
1,462 m³
Parcel 64071B0467/00C000, Wallonia · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SAPI PLANT
since 19992.071.105.792
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64071B0467/00C000 | Wallonia | 3,404 m² | 1 · 210 m² | 9.3 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 21,225 companies in sector 81300 we hold annual accounts for 4,369. 1,526 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)
Founded06-03-1995
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454758170
Also
9925:BE0454758170
Registered
30-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.