SAPIOCANTO
ActiveSummary
SAPIOCANTO has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2,500 and a net result of €102. Equity is shrinking by about 30% per year across the filed financial years. Its solvency ranks better than 21% of 1,858 sector peers (NACE 59, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €2,500
- Profit
- €102
Why 90raises riskEquity €2,500 (6.9% of total assets)lowers riskFounded in 2012Liquidity: current ratio 1.06, cash €35,613Size: turnover €10,554, total assets €36,424Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 59, micro): better than 22% on solvency, 38% on liquidity, 42% on profitability and 57% on growth.
The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 5 days before the deadline; the sector median (NACE 59) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €102
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €249 after a loss of €16,711 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,375 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,375 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | - | €10,554 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | - | €9,439 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €148 | €476 | €986 | €1,014 | €866 | ▼ 14.6% |
| Gross operating margin9900 | €35,781 | €2,658 | -€14,574 | €5,933 | -€14,896 | €6,496 | -€15,697 | €1,115 | - |
| Operating profit (loss)9901 | €35,691 | €2,658 | -€14,576 | €5,785 | -€15,373 | €5,510 | -€16,711 | €249 | - |
| Financial income75/76B | - | - | - | €0 | €158 | €38 | €451 | €1 | ▼ 99.7% |
| Recurring financial income75 | - | €728 | - | €0 | €158 | €38 | €451 | €1 | ▼ 99.7% |
| Financial charges65/66B | - | - | - | €137 | €218 | €146 | €158 | €149 | ▼ 5.9% |
| Recurring financial charges65 | €40 | €175 | -€1 | €137 | €218 | €146 | €158 | €149 | ▼ 5.9% |
| Profit (loss) for the period before taxes9903 | €35,651 | €3,211 | -€14,575 | €5,648 | -€15,433 | €5,402 | -€16,418 | €102 | - |
| Income taxes67/77 | €8,014 | €985 | - | €239 | - | - | - | - | - |
| Profit (loss) for the period9904 | €27,637 | €2,226 | -€14,575 | €5,410 | -€15,433 | €5,402 | -€16,418 | €102 | - |
| Profit (loss) for the period to be appropriated9905 | €27,637 | €2,226 | -€14,575 | €5,410 | -€15,433 | €5,402 | -€16,418 | €102 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €66,455 | €75,359 | €58,050 | €78,269 | €72,901 | €47,846 | €40,602 | €36,424 | ▼ 10.3% |
| Formation expenses20 | - | - | - | - | €0 | - | - | - | - |
| Fixed assets21/28 | - | - | - | €1,356 | €1,912 | €2,446 | €1,432 | €566 | ▼ 60.5% |
| Tangible fixed assets22/27 | - | - | - | €1,356 | €1,912 | €2,446 | €1,432 | €566 | ▼ 60.5% |
| Furniture and vehicles24 | - | - | - | €1,356 | €1,912 | €2,446 | €1,432 | €566 | ▼ 60.5% |
| Current assets29/58 | €66,455 | €75,359 | €58,050 | €76,913 | €70,989 | €45,400 | €39,170 | €35,858 | ▼ 8.5% |
| Amounts receivable within one year40/41 | €8,172 | €3,404 | €4,559 | €6,459 | €7,160 | €103 | €897 | €245 | ▼ 72.7% |
| Trade receivables40 | - | - | - | €2,650 | €6,574 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €3,809 | €586 | €103 | €897 | €245 | ▼ 72.7% |
| Cash at bank and in hand54/58 | €58,282 | €71,955 | €53,491 | €70,454 | €63,829 | €45,297 | €38,274 | €35,613 | ▼ 7.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €66,455 | €75,359 | €58,050 | €78,269 | €72,901 | €47,846 | €40,602 | €36,424 | ▼ 10.3% |
| Equity10/15 | €35,787 | €38,013 | €23,438 | €28,848 | €13,414 | €18,816 | €2,398 | €2,500 | ▲ 4.2% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €11,860 | €14,060 | €14,060 | €16,448 | €16,448 | €16,448 | €16,448 | €16,448 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €14,588 | €14,588 | €14,588 | €14,588 | €14,588 | = |
| Profit (loss) carried forward14 | €11,527 | €11,553 | -€3,022 | - | -€15,433 | -€10,031 | -€26,450 | -€26,348 | ▲ 0.4% |
| Amounts payable17/49 | €30,668 | €37,347 | €34,612 | €49,421 | €59,486 | €29,030 | €38,204 | €33,924 | ▼ 11.2% |
| Amounts payable within one year42/48 | €30,668 | €37,347 | €34,612 | €49,421 | €59,486 | €29,030 | €38,204 | €33,924 | ▼ 11.2% |
| Trade debts44 | €795 | €576 | €608 | - | €1,191 | €910 | - | €1,545 | - |
| Suppliers440/4 | - | - | - | - | €1,191 | €910 | - | €1,545 | - |
| Taxes, remuneration and social security45 | - | - | - | €362 | €123 | €123 | €8,115 | €75 | ▼ 99.1% |
| Taxes450/3 | - | - | - | €362 | €123 | €123 | €115 | €75 | ▼ 34.7% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €8,000 | - | - |
| Other amounts payable47/48 | - | - | - | €49,059 | €58,172 | €27,997 | €30,089 | €32,304 | ▲ 7.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,637 | €2,226 | -€14,575 | €5,410 | -€15,433 | €5,402 | -€16,418 | €102 | - |
| + Depreciation and write-downs630 | - | - | - | €148 | €476 | €986 | €1,014 | €866 | ▼ 14.6% |
| Operating cash flow (approximation) | €27,637 | €2,226 | -€14,575 | €5,558 | -€14,957 | €6,388 | -€15,404 | €968 | - |
| Investment in fixed assets (approximation) | - | - | - | - | -€1,033 | -€1,520 | €0 | €0 | - |
| Change in cash | - | €13,673 | -€18,464 | €16,963 | -€6,625 | -€18,532 | -€7,023 | -€2,661 | ▲ 62.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 20-07-2026 | 2026-00310178 |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00325588 |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00187106 |
| 31-12-2022 | micro format | 01-06-2023 | 2023-00109680 |
| 31-12-2021 | micro format | 19-08-2022 | 2022-20307833 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-65100040 |
| 31-12-2019 | micro format | 26-08-2020 | 2020-44900086 |
| 31-12-2018 | micro format | 27-08-2019 | 2019-53900068 |
| 31-12-2017 | micro format | 24-08-2018 | 2018-50900207 |
| 31-12-2016 | micro format | 28-08-2017 | 2017-49900353 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Sophie Karthäuser |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
25-01
Gazette deed
Resignation: Sophie Karthäuser (manager)Appointment: Sophie Karthäuser (administrateur non statutaire) · Permanent representative: Sophie Karthäuser · Amendment of the articles12 facts ▸
- General meeting, 26-12-2023
- Amendment of the articles (2 times)
- Legal form clause, “conservation, société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Other provision, “suppression des comptes statutairement indisponibles et du compte d’apport non appelé, formes et majorités de la modification des statuts” (deed in French)
- Capital
- Director resignation, Sophie Karthäuser (manager)
- Director appointment, Sophie Karthäuser (administrateur non statutaire)
- Permanent representative, Sophie Karthäuser
- Registered office clause, “4960 Malmedy,Warche,8” (deed in French)
- Power of attorney
- Power of attorney, Olivier CRESPIN
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92128B0141/00B000 | Wallonia | 1,691 m² | 1 · 150 m² | 9.3 m · 2 |
| 63472A0382/00C000 | Wallonia | 441 m² | 1 · 163 m² | 10.0 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'organisation,la promotion et l’interprétation d'évènements culturels,de spectacles d'opéra,de concerts et de toutes manifestations à…” (deed in French)
9 activities (deed in French)
- L'organisation,la promotion et l’interprétation d'évènements culturels,de spectacles d'opéra,de concerts et de toutes manifestations à caractère culturel
- L'édition,la production phonographique,audiovisuelle et multimédia et tous services y afférents
- La distribution,la diffusion et la fabrication au niveau national et international sur tous supports d'œuvres à caractère musical ou assimilées
- La production,l'acquisition,la vente,la disposition sous toutes formes de droits intellectuels
- L'édition de revues,livres et publications culturelles
- La recherche et la création en matière culturelle
- La recherche de sponsors et subsides
- Le conseil en gestion d'entreprises,stratégiques,financières,artistiques,communication,et ressources humaines
- La vente,la location,l’exploitation et la gestion de toutes transactions de biens mobiliers et Immobiliers
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SAPIOCANTO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Sous réserve de ceux que la loi et les statuts réservent à l’assemblée générale, assemblée nommant fixe nombre,durée et,en cas de…” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of May at 18:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Après apurement de dettes,charges et frais ou consignation des montants nécessaires, en tout temps par décision de l'assemblée générale dans…” (deed in French)