SAREFRA
ActiveSummary
The computed 12-month bankruptcy probability of SAREFRA is 2.8% (moderate). The 2025 annual accounts show negative equity (-€119,880) and a net result of €35,684. Its solvency ranks better than 7% of 18458 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth78
Track record94
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 4.73 against 27.08 in 2024; short-term debt: 21.1% and cash: 1.2% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-194.8%
Return on assets
58%
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 7% of 18458 sector peers (2025).
NBB · sector comparisonPosition among 18458 sector peers
Solvency
better than 7%
← 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 29-08-2026, 29 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 · 2 filingsDeviation from the deadline
2025
29 d late
2024
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 3 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€119,880▲ 22.9%
2024 · -€155,564
Total assets
€61,543▼ 40.4%
2024 · €103,248
Net result
€35,684
2024 · -€156,064
Working capital
€48,533▼ 51.2%
2024 · €99,436
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
Line20242025
Operating result-€155,961-€36,004
Net result-€156,064-€35,684
Equity-€155,564--€119,880▲ 22.9%
Total assets€103,248-€61,543▼ 40.4%
Debt€258,812-€181,424▼ 29.9%
Working capital€99,436-€48,533▼ 51.2%
Staff (FTE)1-0.3▼ 70.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €36,004 after a loss of €155,961 in 2024.
Key figures and ratios
Solvency
-194.8%▼
2024 · -150.7%
Current ratio
4.73▼
2024 · 27.08
Quick ratio
2.02▼
2024 · 14.80
Debt to equity
-1.51▲
2024 · -1.66
ROA
58.0%▲
2024 · -151.2%
Debt ≤ 1 year
€13,010▲
2024 · €3,812
Debt > 1 year
€168,414▼
2024 · €255,000
Income taxes
€234
Staff costs
€25,093▼
2024 · €97,164
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €97,164 | €25,093 | ▼ 74.2% |
| Other operating charges640/8 | €834 | €515 | ▼ 38.2% |
| Gross operating margin9900 | -€57,964 | €61,612 | ▲ 206% |
| Operating profit (loss)9901 | -€155,961 | €36,004 | ▲ 123% |
| Financial charges65/66B | €104 | €86 | ▼ 17.0% |
| Recurring financial charges65 | €104 | €86 | ▼ 17.0% |
| Profit (loss) for the period before taxes9903 | -€156,064 | €35,918 | ▲ 123% |
| Income taxes67/77 | - | €234 | - |
| Profit (loss) for the period9904 | -€156,064 | €35,684 | ▲ 123% |
| Profit (loss) for the period to be appropriated9905 | -€156,064 | €35,684 | ▲ 123% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €103,248 | €61,543 | ▼ 40.4% |
| Current assets29/58 | €103,248 | €61,543 | ▼ 40.4% |
| Stocks and contracts in progress3 | €46,824 | €35,270 | ▼ 24.7% |
| Stocks30/36 | €46,824 | €35,270 | ▼ 24.7% |
| Amounts receivable within one year40/41 | €44,942 | €25,555 | ▼ 43.1% |
| Trade receivables40 | €44,942 | €25,555 | ▼ 43.1% |
| Cash at bank and in hand54/58 | €11,482 | €718 | ▼ 93.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €103,248 | €61,543 | ▼ 40.4% |
| Equity10/15 | -€155,564 | -€119,880 | ▲ 22.9% |
| Contributions10/11 | €500 | €500 | = |
| Profit (loss) carried forward14 | -€156,064 | -€120,380 | ▲ 22.9% |
| Amounts payable17/49 | €258,812 | €181,424 | ▼ 29.9% |
| Amounts payable after more than one year17 | €255,000 | €168,414 | ▼ 34.0% |
| Other amounts payable178/9 | €255,000 | €168,414 | ▼ 34.0% |
| Amounts payable within one year42/48 | €3,812 | €13,010 | ▲ 241% |
| Trade debts44 | - | €1,425 | - |
| Suppliers440/4 | - | €1,425 | - |
| Taxes, remuneration and social security45 | €3,812 | €11,585 | ▲ 204% |
| Taxes450/3 | €3,812 | €11,585 | ▲ 204% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€156,064 | €35,684 | ▲ 123% |
| Operating cash flow (approximation) | -€156,064 | €35,684 | ▲ 123% |
| Change in cash | - | -€10,763 | - |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
31-12
Financial
Back to profitnet €35,684
Net result €35,684 after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Maaseik · 1 establishment unit since 2023
Ground area
8,853 m²
Building footprint
336 m²
Volume, LiDAR
1,597 m³
Parcel 72028D0534/00H003, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SAREFRA
since 20232.346.663.887
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72028D0534/00H003 | Flanders | 8,853 m² | 1 · 336 m² | 7.6 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMaaseik2.346.663.887
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 12,956 companies in sector 47120 we hold annual accounts for 2,191. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-06-2023
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
Scores and ratios are computed by Checked and are not a credit decision.