SARDI
ActiveSummary
SARDI has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €134,383 and a net result of €123,097. Equity is shrinking by ~23.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72=
Solvency28▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 10.88 against 10.74 in 2023; short-term debt: 3.2% and cash: 11.5% of total assets), but 97.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 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
not confirmed
2024
57 d late
2023
6 d late
2022
14 d early
2021
19 d late
2020
1 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 10 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€134,383▲ 1,091%
2023 · €11,286
Total assets
€5.0m=
2023 · €5.0m
Net result
€123,097▼ 2.5%
2023 · €126,191
Working capital
€1.6m▲ 5.3%
2023 · €1.5m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€259,661€38,520-€877,966€115,803€97,692▼ 15.6%
Net result-€249,277€43,148-€872,113€126,191€123,097▼ 2.5%
Equity€714,059▼ 25.9%€757,207▲ 6.0%-€114,906€11,286€134,383▲ 1,091%
Total assets€6.0m▲ 82.0%€6.0m▼ 0.5%€5.0m▼ 15.6%€5.0m▼ 0.2%€5.0m=
Debt€5.3m▲ 127%€5.2m▼ 1.4%€5.1m▼ 1.0%€5.0m▼ 2.6%€4.9m▼ 2.4%
Working capital€627,690€708,753▲ 12.9%€1.5m▲ 106%€1.5m▲ 4.8%€1.6m▲ 5.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 16% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.0m
Fixed assets
€3.2m ▼ 2.5%
Current assets
€1.8m ▲ 5.1%
Equity and liabilities €5.0m
Equity
€134,383 ▲ 1,091%
Debt
€4.9m ▼ 2.4%
Debt's share of the balance-sheet total falls from 99.8% to 97.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€187,625▼
2023 · €204,449
Cash flow
€213,030▼
2023 · €214,838
Current ratio
10.88▲
2023 · 10.74
Debt to equity
36.36
ROE
91.6%
ROA
2.5%▼
2023 · 2.5%
Interest coverage
11.97▼
2023 · 12.11
Debt ≤ 1 year
€163,063▲
2023 · €157,161
Debt > 1 year
€4.7m▼
2023 · €4.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,214 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.6%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 1,214 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €446,426 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €377,204 | €165,179 | €75,005 | €88,647 | €89,933 | ▲ 1.5% |
| Other operating charges640/8 | - | €36,688 | €38,299 | €40,359 | €45,456 | ▲ 12.6% |
| Non-recurring operating charges66A | - | - | €1.4m | €0 | - | - |
| Gross operating margin9900 | €147,201 | €240,387 | €674,401 | €244,809 | €233,081 | ▼ 4.8% |
| Operating profit (loss)9901 | -€259,661 | €38,520 | -€877,966 | €115,803 | €97,692 | ▼ 15.6% |
| Financial income75/76B | - | €24,000 | €24,000 | €27,271 | €41,085 | ▲ 50.7% |
| Recurring financial income75 | €24,000 | €24,000 | €24,000 | €27,271 | €41,085 | ▲ 50.7% |
| Financial charges65/66B | - | €19,372 | €18,147 | €16,882 | €15,680 | ▼ 7.1% |
| Recurring financial charges65 | €13,616 | €19,372 | €18,147 | €16,882 | €15,680 | ▼ 7.1% |
| Profit (loss) for the period before taxes9903 | -€249,277 | €43,148 | -€872,113 | €126,191 | €123,097 | ▼ 2.5% |
| Profit (loss) for the period9904 | -€249,277 | €43,148 | -€872,113 | €126,191 | €123,097 | ▼ 2.5% |
| Transfer from tax-exempt reserves789 | - | €21,444 | €21,444 | €21,444 | €21,444 | = |
| Profit (loss) for the period to be appropriated9905 | -€227,834 | €64,591 | -€850,669 | €147,635 | €144,540 | ▼ 2.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.0m | €6.0m | €5.0m | €5.0m | €5.0m | = |
| Fixed assets21/28 | €5.2m | €5.1m | €3.4m | €3.3m | €3.2m | ▼ 2.5% |
| Tangible fixed assets22/27 | €5.2m | €5.1m | €3.4m | €3.3m | €3.2m | ▼ 2.5% |
| Land and buildings22 | - | €5.1m | €3.4m | €3.3m | €3.2m | ▼ 2.5% |
| Current assets29/58 | €771,854 | €903,538 | €1.6m | €1.7m | €1.8m | ▲ 5.1% |
| Amounts receivable after more than one year29 | - | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Other amounts receivable291 | - | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Amounts receivable within one year40/41 | €19,688 | €13,000 | €13,250 | €13,914 | €18,787 | ▲ 35.0% |
| Other amounts receivable41 | - | €13,000 | €13,250 | €13,914 | €18,787 | ▲ 35.0% |
| Current investments50/53 | - | - | - | €600,000 | €470,000 | ▼ 21.7% |
| Cash at bank and in hand54/58 | €116,166 | €216,879 | €936,904 | €382,010 | €575,333 | ▲ 50.6% |
| Deferred charges and accrued income490/1 | - | €73,659 | €78,083 | €91,361 | €109,705 | ▲ 20.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.0m | €6.0m | €5.0m | €5.0m | €5.0m | = |
| Equity10/15 | €714,059 | €757,207 | -€114,906 | €11,286 | €134,383 | ▲ 1,091% |
| Contributions10/11 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Capital10 | - | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Issued capital100 | - | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Reserves13 | €289,863 | €271,649 | €250,205 | €236,143 | €221,927 | ▼ 6.0% |
| Non-distributable reserves130/1 | - | €32,382 | €32,382 | €39,764 | €46,991 | ▲ 18.2% |
| Legal reserve130 | - | €32,382 | €32,382 | €39,764 | €46,991 | ▲ 18.2% |
| Tax-exempt reserves132 | - | €239,267 | €217,823 | €196,380 | €174,936 | ▼ 10.9% |
| Profit (loss) carried forward14 | -€75,803 | -€14,441 | -€865,111 | -€724,858 | -€587,544 | ▲ 18.9% |
| Amounts payable17/49 | €5.3m | €5.2m | €5.1m | €5.0m | €4.9m | ▼ 2.4% |
| Amounts payable after more than one year17 | €5.1m | €5.0m | €5.0m | €4.8m | €4.7m | ▼ 2.7% |
| Financial debts170/4 | - | €1.7m | €1.6m | €1.5m | €1.3m | ▼ 8.8% |
| Other amounts payable178/9 | - | €3.3m | €3.4m | €3.4m | €3.4m | = |
| Amounts payable within one year42/48 | €144,164 | €194,785 | €167,540 | €157,161 | €163,063 | ▲ 3.8% |
| Current portion of amounts payable after more than one year42 | - | €125,719 | €126,974 | €128,198 | €129,521 | ▲ 1.0% |
| Trade debts44 | - | €1,291 | €12,841 | €1,238 | €3,026 | ▲ 144% |
| Suppliers440/4 | - | €1,291 | €12,841 | €1,238 | €3,026 | ▲ 144% |
| Other amounts payable47/48 | - | €67,776 | €27,726 | €27,726 | €30,516 | ▲ 10.1% |
| Accrued charges and deferred income492/3 | - | €1,100 | €1,100 | €3,650 | €6,200 | ▲ 69.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€249,277 | €43,148 | -€872,113 | €126,191 | €123,097 | ▼ 2.5% |
| + Depreciation and write-downs630 | €377,204 | €165,179 | €75,005 | €88,647 | €89,933 | ▲ 1.5% |
| Operating cash flow (approximation) | €127,927 | €208,327 | -€797,108 | €214,838 | €213,030 | ▼ 0.8% |
| Investment in fixed assets (approximation) | - | -€2,196 | €1.6m | -€19,763 | -€5,422 | ▲ 72.6% |
| Change in cash | - | €100,714 | €720,025 | -€554,895 | €193,323 | ▲ 135% |
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
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Equity above €100,000Eq €134,383 ▲1,091%
2 profitable years in a row build equity to €134,383.
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
2023
31-12
Financial
Back to profitnet €126,191
Net result €126,191 after one loss-making year.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€872,113
Net result drops to -€872,113, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 9.72
Current ratio from 4.64 to 9.72; short-term debt falls from €194,785 to €167,540.
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-12
Financial
Back to profitnet €43,148
Net result €43,148 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 6current ratio 5.35
Current ratio from 0.83 to 5.35; short-term debt falls from €842,802 to €144,164.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Back to profitnet €31,265
Net result €31,265 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
05-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 5 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Pajottegem · 1 establishment unit since 1992
Ground area
6,075 m²
Building footprint
717 m²
Volume, LiDAR
4,971 m³
Parcel 23031C0385/00D000, Flanders · tallest building 12.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SARDI
since 19922.056.234.407
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23031C0385/00D000 | Flanders | 6,075 m² | 1 · 717 m² | 12.2 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.
Identification & contact
Identification
Legal formPublic limited company
Founded27-06-1990
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441273883
Registered
27-08-2025
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.