SARO INVESTS
InactiveInactive; last annual accounts for fiscal year 2025. Dissolved without liquidation on 24-12-2025.
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Leuven
- Opened
- 18 January 2019
- Track
- Reorganisation by amicable settlement
- Docket number
- 20190003
- Moratorium until
- 17 April 2019 (passed; an extension would be in a later judgment)
- Delegated judge
- Johnny Verhaegen
- Official Gazette
- 25-01-2019 (pdf) ↗search the document for 2019/102929
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- An amicable settlement binds only the creditors who sign it. You decide whether you sign.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€123,329
neutral · Latest accounts filed on time
The financial year that closed on 24-12-2025 was due by 24-07-2026 and was filed on 23-04-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 d early
2024
20 d early
2023
29 d late
2022
29 d late
2021
60 d late
2020
31 d late
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 15 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
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€123,329▼ 3.3%
2024 · -€119,446
Total assets
€1,590▼ 75.7%
2024 · €6,549
Net result
-€3,883▲ 6.5%
2024 · -€4,151
Working capital
-€123,329▼ 3.3%
2024 · -€119,446
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
Line20212022202320242025
Operating result-€10,069€2,738€23,068▲ 743%-€2,756-€2,412▲ 12.5%
Net result-€11,126€1,463€211,795▲ 14,376%-€4,151-€3,883▲ 6.5%
Equity-€328,552▼ 3.5%-€327,089▲ 0.4%-€115,295▲ 64.8%-€119,446▼ 3.6%-€123,329▼ 3.3%
Total assets€25,263▼ 60.4%€28,561▲ 13.1%€33,381▲ 16.9%€6,549▼ 80.4%€1,590▼ 75.7%
Debt€353,815▼ 7.2%€355,650▲ 0.5%€148,675▼ 58.2%€125,995▼ 15.3%€124,919▼ 0.9%
Working capital-€206,524▼ 5.7%-€205,061▲ 0.7%-€115,295▲ 43.8%-€119,446▼ 3.6%-€123,329▼ 3.3%
Staff (FTE)3▲ 15.4%2.8▼ 6.7%1▼ 64.3%0.4▼ 60.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2023 Net result +14,376% on 2022. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2,412 in 2025 against €2,756 in 2024; the loss shrinks.
Key figures and ratios
Debt ≤ 1 year
€124,919▼
2024 · €125,995
Staff costs
€891▼
2024 · €10,127
Ratios withheld: a balance sheet total of €1,590 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €25,528 | - | - | - |
| Remuneration, social security and pensions62 | €128,069 | €125,253 | €45,637 | €10,127 | €891 | ▼ 91.2% |
| Other operating charges640/8 | - | €1,672 | €623 | €3,367 | €642 | ▼ 80.9% |
| Gross operating margin9900 | €117,999 | €129,663 | €69,328 | €10,739 | -€879 | ▼ 108% |
| Operating profit (loss)9901 | -€10,069 | €2,738 | €23,068 | -€2,756 | -€2,412 | ▲ 12.5% |
| Financial income75/76B | €108 | - | €190,032 | - | - | - |
| Recurring financial income75 | €108 | - | €32 | - | - | - |
| Non-recurring financial income76B | - | - | €190,000 | - | - | - |
| Financial charges65/66B | €1,165 | €1,275 | €1,305 | €1,396 | €1,471 | ▲ 5.4% |
| Recurring financial charges65 | €1,165 | €1,275 | €1,305 | €1,396 | €1,471 | ▲ 5.4% |
| Profit (loss) for the period before taxes9903 | -€11,126 | €1,463 | €211,795 | -€4,151 | -€3,883 | ▲ 6.5% |
| Profit (loss) for the period9904 | -€11,126 | €1,463 | €211,795 | -€4,151 | -€3,883 | ▲ 6.5% |
| Profit (loss) for the period to be appropriated9905 | -€11,126 | €1,463 | €211,795 | -€4,151 | -€3,883 | ▲ 6.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25,263 | €28,561 | €33,381 | €6,549 | €1,590 | ▼ 75.7% |
| Current assets29/58 | €25,263 | €28,561 | €33,381 | €6,549 | €1,590 | ▼ 75.7% |
| Amounts receivable within one year40/41 | €21,368 | €11,026 | €30,082 | €5,031 | €1,423 | ▼ 71.7% |
| Trade receivables40 | €19,677 | €10,322 | €29,610 | €4,998 | €1,269 | ▼ 74.6% |
| Other amounts receivable41 | €1,690 | €703 | €472 | €34 | €154 | ▲ 358% |
| Cash at bank and in hand54/58 | €3,465 | €16,149 | €2,306 | €1,518 | - | - |
| Deferred charges and accrued income490/1 | €430 | €1,387 | €993 | - | €167 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25,263 | €28,561 | €33,381 | €6,549 | €1,590 | ▼ 75.7% |
| Equity10/15 | -€328,552 | -€327,089 | -€115,295 | -€119,446 | -€123,329 | ▼ 3.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€349,012 | -€347,549 | -€135,755 | -€139,906 | -€143,789 | ▼ 2.8% |
| Amounts payable17/49 | €353,815 | €355,650 | €148,675 | €125,995 | €124,919 | ▼ 0.9% |
| Amounts payable after more than one year17 | €116,000 | €116,000 | - | - | - | - |
| Financial debts170/4 | €116,000 | €116,000 | - | - | - | - |
| Amounts payable within one year42/48 | €231,787 | €233,623 | €148,675 | €125,995 | €124,919 | ▼ 0.9% |
| Financial debts43 | €93,500 | €93,500 | - | - | - | - |
| Credit institutions430/8 | €93,500 | €93,500 | - | - | - | - |
| Trade debts44 | €13,843 | €6,534 | €13,054 | €2,504 | - | - |
| Suppliers440/4 | €13,843 | €6,534 | €13,054 | €2,504 | - | - |
| Taxes, remuneration and social security45 | €7,379 | €15,344 | €5,700 | €799 | €15 | ▼ 98.1% |
| Taxes450/3 | €29 | - | €6 | €15 | €15 | = |
| Remuneration and social security454/9 | €7,349 | €15,344 | €5,693 | €784 | - | - |
| Other amounts payable47/48 | €117,066 | €118,244 | €129,921 | €122,692 | €124,904 | ▲ 1.8% |
| Accrued charges and deferred income492/3 | €6,028 | €6,028 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,126 | €1,463 | €211,795 | -€4,151 | -€3,883 | ▲ 6.5% |
| Operating cash flow (approximation) | -€11,126 | €1,463 | €211,795 | -€4,151 | -€3,883 | ▲ 6.5% |
| Change in cash | - | €12,683 | -€13,843 | -€788 | - | - |
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
2026
23-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
20-03
State Gazette act
Capital & shares · Resignations & appointments · RestructuringMerger · Dissolution · Accounting effect6 facts ▸
State Gazette act
Capital & shares · Resignations & appointments · Restructuring
Merger · Dissolution · Accounting effect6 facts ▸
- General meeting, 24/12/2025
- Merger, 24/12/2025
- Dissolution, 24-12-2025
- Accounting effect, 24/12/2025
- Power of attorney, Fisco-Consult
- Power of attorney, NILA
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Highest result since 2018net €211,795 ▲14,376%
Operating result €23,068, net result €211,795, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Back to profitnet €1,463
Net result €1,463 after one loss-making year.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
2021
31-12
Financial
Weakest financial yearnet -€11,126
Net result drops to -€11,126, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €3,347
Net result €3,347 after one loss-making year.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
Show earlier events
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
25-01
Judicial reorganisation
Opening
Ondernemingsrechtbank Leuven · amicable agreement · event 18-01-2019
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
SignalFinancial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:NILA