SARAH
ActiveSARAH has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €139k and a net result of €8k. Equity is growing by ~39.5% per year across the filed fiscal years. Its solvency ranks better than 69% of 6541 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability50▼-4
Solvency75▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 1.69 against 1.52 in 2023; short-term debt: 49.3% and cash: 35.3% of total assets), and 49.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
128 d late
2022
151 d late
2021
138 d late
2020
27 d late
2019
55 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€8k▲ 175%
2023 · €3k
2018: €-24k
2019: €21k
2020: €34k
2021: €36k
2022: €54k
2023: €3k
2018 → 2024
Working capital
€94k▲ 2.8%
2023 · €91k
2018: €-53k
2019: €-33k
2020: €28k
2021: €16k
2022: €77k
2023: €91k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€39k-€75k▲ 93.8%€129k▲ 72.0%€131k▲ 2.2%€139k▲ 5.9%
Operating result€33k-€41k▲ 26.6%€74k▲ 80.8%€22k▼ 70.4%€12k▼ 46.3%
Net result€34k-€36k▲ 5.4%€54k▲ 48.7%€3k▼ 94.7%€8k▲ 175%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 46% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €277k
Fixed assets
€46k▲ 14.2%
Current assets
€230k▼ 13.3%
Equity and liabilities €277k
Equity
€139k▲ 5.9%
Debt
€138k▼ 21.4%
The debt ratio falls from 57.1% to 49.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€25k▼
2023 · €34k
Cash flow
€21k▲
2023 · €15k
Solvency
50.3%▲
2023 · 42.9%
Current ratio
1.69▲
2023 · 1.52
Quick ratio
1.52▲
2023 · 1.39
Debt / equity
0.99▼
2023 · 1.33
ROE
5.6%▲
2023 · 2.2%
ROA
2.8%▲
2023 · 0.9%
Interest coverage
3.28▼
2023 · 4.05
Debt
€138k▼
2023 · €175k
Debt ≤ 1 year
€136k▼
2023 · €174k
Income taxes
€6k▼
2023 · €15k
Staff costs
€352k▲
2023 · €337k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€307k€277k▼
Fixed assets21/28€41k€46k▲
Tangible fixed assets22/27€41k€46k▲
Plant, machinery and equipment23€39k€37k▼
Furniture and vehicles24€1k€10k▲
Current assets29/58€266k€230k▼
Stocks and contracts in progress3€23k€24k▲
Stocks30/36€23k€24k▲
Amounts receivable within one year40/41€127k€109k▼
Trade receivables40€19k€7k▼
Other amounts receivable41€108k€102k▼
Cash at bank and in hand54/58€116k€98k▼
Deferred charges and accrued income490/1€300-
Equity and liabilities
Total equity and liabilities10/49€307k€277k▼
Equity10/15€131k€139k▲
Contributions10/11€60k€60k=
Reserves13€36k€36k=
Distributable reserves133€36k€36k=
Profit (loss) carried forward14€35k€43k▲
Amounts payable17/49€175k€138k▼
Amounts payable within one year42/48€174k€136k▼
Trade debts44€65k€40k▼
Suppliers440/4€65k€40k▼
Taxes, remuneration and social security45€76k€76k▼
Taxes450/3€25k€18k▼
Remuneration and social security454/9€50k€57k▲
Other amounts payable47/48€33k€21k▼
Accrued charges and deferred income492/3€743€1k▲
Income statement
Code20232024
Remuneration, social security and pensions62€337k€352k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€13k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€374k€379k▲
Operating profit (loss)9901€22k€12k▼
Financial income75/76B€4k€10k▲
Recurring financial income75€4k€10k▲
Financial charges65/66B€8k€8k▼
Recurring financial charges65€8k€8k▼
Profit (loss) for the period before taxes9903€18k€14k▼
Income taxes67/77€15k€6k▼
Profit (loss) for the period9904€3k€8k▲
Profit (loss) for the period to be appropriated9905€3k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€35k€43k▲
Profit (loss) brought forward from the previous period14P€33k€35k▲
Social balance
Average headcount (FTE)908711.511.1▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
06-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 128 days late
2023
29-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 151 days late
2022
31-12
Financial
Highest result since 2018net €54k ▲48.7%
Operating result €74k, net result €54k, both a record.
31-12
Financial
Equity above €100kEq €129k ▲72%
4 profitable years in a row build equity to €129k.
16-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 138 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 55 days late
2019
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 51 days late
2018
04-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 65 days late
15-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 168 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, Malmedy · 1 establishment unit since 2016
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.
Avenue des Alliés 95-974960 MalmedyGround area
529 m²
Building footprint
122 m²
Parcel 63049F0360/00X008, Wallonia. Linked by address, not a title deed.
1 establishment unit
Au péché mignon
since 20162.248.849.978
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63049F0360/00X008 | Wallonia | 529 m² | 1 · 122 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMalmedy2.248.849.978
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BAKKERIJ HEIRMAN
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,870. 1,583 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-12-2015
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.