SARTEX
ActiveSummary
SARTEX has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €85,618. Equity is shrinking by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 8161 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-6
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 32.65 against 5.06 in 2024; short-term debt: 2.9% and cash: 8.4% of total assets), and 2.9% of the assets are financed with debt.
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Signals
Five 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
97.1%
Return on assets
5.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
47 d early
2023
53 d early
2022
108 d early
2021
36 d early
2020
40 d early
2019
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 51 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 11 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#10 oldest company in Kuurne, Wholesale and retail trade sector
Equity
€1.5m▲ 5.6%
2024 · €1.5m
Total assets
€1.6m▼ 11.3%
2024 · €1.8m
Net result
€85,618▼ 52.8%
2024 · €181,549
Working capital
€1.4m▲ 7.3%
2024 · €1.3m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€630,034▲ 8,199%€397,500▼ 36.9%€118,200▼ 70.3%€193,516▲ 63.7%€96,560▼ 50.1%
Net result€560,675above the sector's middle half€340,252above the sector's middle half▼ 39.3%€165,215above the sector's middle half▼ 51.4%€181,549above the sector's middle half▲ 9.9%€85,618within the sector's middle half▼ 52.8%
Equity€2.3mabove the sector's middle half▲ 10.9%€2.5mabove the sector's middle half▲ 9.0%€1.6mabove the sector's middle half▼ 37.2%€1.5mabove the sector's middle half▼ 6.4%€1.5mabove the sector's middle half▲ 5.6%
Total assets€3.3mabove the sector's middle half▲ 10.4%€3.3mabove the sector's middle half▼ 0.1%€1.8mwithin the sector's middle half▼ 45.8%€1.8mwithin the sector's middle half▲ 1.1%€1.6mwithin the sector's middle half▼ 11.3%
Debt€995,399▲ 59.1%€788,339▼ 20.8%€213,292▼ 72.9%€331,922▲ 55.6%€45,740▼ 86.2%
Working capital€2.8mabove the sector's middle half▼ 1.5%€3.0mabove the sector's middle half▲ 4.4%€1.4mabove the sector's middle half▼ 51.5%€1.3mabove the sector's middle half▼ 5.7%€1.4mabove the sector's middle half▲ 7.3%
Solvency69.7%above the sector's middle half▲ 0.4pp76.0%above the sector's middle half▲ 6.3pp88.0%above the sector's middle half▲ 12.0pp81.5%above the sector's middle half▼ 6.5pp97.1%above the sector's middle half▲ 15.6pp
Current ratio8.33above the sector's middle half17.89above the sector's middle half▲ 9.577.72above the sector's middle half▼ 10.175.06above the sector's middle half▼ 2.6632.65above the sector's middle half▲ 27.58
Return on assets (ROA)17.1%above the sector's middle half▲ 18.2pp10.4%within the sector's middle half▼ 6.7pp9.3%within the sector's middle half▼ 1.1pp10.1%within the sector's middle half▲ 0.8pp5.4%within the sector's middle half▼ 4.7pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 50% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€101,238 ▼ 13.6%
Current assets
€1.5m ▼ 11.2%
Equity and liabilities €1.6m
Equity
€1.5m ▲ 5.6%
Debt
€45,740 ▼ 86.2%
Debt's share of the balance-sheet total falls from 18.5% to 2.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€114,996▼
2024 · €211,552
Cash flow
€104,054▼
2024 · €199,585
Quick ratio
9.69▲
2024 · 2.93
Debt to equity
0.03▼
2024 · 0.23
ROE
5.5%▼
2024 · 12.4%
Interest coverage
77.74▼
2024 · 159.36
Debt ≤ 1 year
€45,740▼
2024 · €331,922
Income taxes
€28,351▲
2024 · €13,362
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,338 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 20,134 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,529 | €24,000 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,985 | €5,337 | €18,036 | €18,036 | €18,435 | ▲ 2.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€286,924 | €0 | - | - | - | - |
| Other operating charges640/8 | €7,327 | €6,339 | €12,135 | €7,355 | €16,315 | ▲ 122% |
| Gross operating margin9900 | €370,422 | €409,176 | €148,371 | €218,907 | €131,310 | ▼ 40.0% |
| Operating profit (loss)9901 | €630,034 | €397,500 | €118,200 | €193,516 | €96,560 | ▼ 50.1% |
| Financial income75/76B | €48,416 | €34,965 | €137,294 | €2,723 | €18,889 | ▲ 594% |
| Recurring financial income75 | €48,416 | €34,965 | €137,294 | €2,723 | €18,889 | ▲ 594% |
| Financial charges65/66B | €37,693 | €26,476 | €51,639 | €1,328 | €1,479 | ▲ 11.4% |
| Recurring financial charges65 | €37,693 | €26,476 | €51,639 | €1,328 | €1,479 | ▲ 11.4% |
| Profit (loss) for the period before taxes9903 | €640,757 | €405,989 | €203,855 | €194,911 | €113,970 | ▼ 41.5% |
| Income taxes67/77 | €80,082 | €65,737 | €38,640 | €13,362 | €28,351 | ▲ 112% |
| Profit (loss) for the period9904 | €560,675 | €340,252 | €165,215 | €181,549 | €85,618 | ▼ 52.8% |
| Profit (loss) for the period to be appropriated9905 | €560,675 | €340,252 | €165,215 | €181,549 | €85,618 | ▼ 52.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.3m | €3.3m | €1.8m | €1.8m | €1.6m | ▼ 11.3% |
| Fixed assets21/28 | €68,370 | €153,213 | €135,177 | €117,141 | €101,238 | ▼ 13.6% |
| Tangible fixed assets22/27 | €68,370 | €153,213 | €135,177 | €117,141 | €101,238 | ▼ 13.6% |
| Land and buildings22 | €68,370 | €68,370 | €68,370 | €68,370 | €68,370 | = |
| Furniture and vehicles24 | - | €84,842 | €66,807 | €48,771 | €32,867 | ▼ 32.6% |
| Current assets29/58 | €3.2m | €3.1m | €1.6m | €1.7m | €1.5m | ▼ 11.2% |
| Stocks and contracts in progress3 | €728,449 | €555,965 | €986,440 | €708,739 | €1.0m | ▲ 48.1% |
| Stocks30/36 | €728,449 | €555,965 | €986,440 | €708,739 | €1.0m | ▲ 48.1% |
| Amounts receivable within one year40/41 | €208,445 | €230,383 | €291,287 | €207,196 | €94,921 | ▼ 54.2% |
| Trade receivables40 | €169,728 | €192,280 | €256,428 | €147,287 | €45,059 | ▼ 69.4% |
| Other amounts receivable41 | €38,717 | €38,103 | €34,859 | €59,910 | €49,862 | ▼ 16.8% |
| Current investments50/53 | €2.1m | €1.8m | €100,107 | €607,583 | €210,801 | ▼ 65.3% |
| Cash at bank and in hand54/58 | €201,225 | €589,677 | €263,227 | €154,516 | €134,730 | ▼ 12.8% |
| Deferred charges and accrued income490/1 | €90 | €844 | €2,757 | €2,854 | €2,948 | ▲ 3.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.3m | €3.3m | €1.8m | €1.8m | €1.6m | ▼ 11.3% |
| Equity10/15 | €2.3m | €2.5m | €1.6m | €1.5m | €1.5m | ▲ 5.6% |
| Contributions10/11 | €257,958 | €257,958 | €257,958 | €257,958 | €257,958 | = |
| Capital10 | €257,958 | €257,958 | €257,958 | €257,958 | €257,958 | = |
| Issued capital100 | €257,958 | €257,958 | €257,958 | €257,958 | €257,958 | = |
| Reserves13 | €2.0m | €2.2m | €1.3m | €1.2m | €1.3m | ▲ 6.8% |
| Non-distributable reserves130/1 | €25,796 | €25,796 | €25,796 | €25,796 | €25,796 | = |
| Legal reserve130 | €25,796 | €25,796 | €25,796 | €25,796 | €25,796 | = |
| Distributable reserves133 | €2.0m | €2.2m | €1.3m | €1.2m | €1.3m | ▲ 7.0% |
| Profit (loss) carried forward14 | €675 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €0 | - | - | - | - | - |
| Pensions and similar obligations160 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €995,399 | €788,339 | €213,292 | €331,922 | €45,740 | ▼ 86.2% |
| Amounts payable after more than one year17 | €568,364 | €568,364 | €0 | - | - | - |
| Financial debts170/4 | €568,364 | €568,364 | €0 | - | - | - |
| Amounts payable within one year42/48 | €386,017 | €174,785 | €212,917 | €331,922 | €45,740 | ▼ 86.2% |
| Trade debts44 | €51,017 | €36,696 | €78,217 | €50,778 | €42,740 | ▼ 15.8% |
| Suppliers440/4 | €51,017 | €36,696 | €78,217 | €50,778 | €42,740 | ▼ 15.8% |
| Taxes, remuneration and social security45 | - | €3,089 | €0 | - | - | - |
| Taxes450/3 | - | €3,089 | €0 | - | - | - |
| Other amounts payable47/48 | €335,000 | €135,000 | €134,700 | €281,144 | €3,000 | ▼ 98.9% |
| Accrued charges and deferred income492/3 | €41,017 | €45,190 | €374 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €560,675 | €340,252 | €165,215 | €181,549 | €85,618 | ▼ 52.8% |
| + Depreciation and write-downs630 | €19,985 | €5,337 | €18,036 | €18,036 | €18,435 | ▲ 2.2% |
| Operating cash flow (approximation) | €580,660 | €345,589 | €183,251 | €199,585 | €104,054 | ▼ 47.9% |
| Investment in fixed assets (approximation) | - | -€90,179 | €0 | €0 | -€2,532 | - |
| Change in cash | - | €388,452 | -€326,450 | -€108,711 | -€19,786 | ▲ 81.8% |
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
23-06
State Gazette act
Reappointments: KUBEMA NV, Renotex BV and Greet ChristiaensPermanent representatives: Defrancq Vincent and Defrancq Olivier · Declaration10 facts ▸
State Gazette act
Reappointments: KUBEMA NV, Renotex BV and Greet Christiaens
Permanent representatives: Defrancq Vincent and Defrancq Olivier · Declaration10 facts ▸
- General meeting, 29-05-2026
- Director reappointment, KUBEMA NV (director)
- Permanent representative, Defrancq Vincent (permanent representative)
- Director reappointment, Renotex BV (director)
- Permanent representative, Defrancq Olivier (permanent representative)
- Director reappointment, Greet Christiaens (director)
- Declaration, acceptance of mandate
- Board meeting, 29-05-2026
- Director reappointment, KUBEMA NV (managing director and chair)
- Permanent representative, Defrancq Vincent (permanent representative)
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity times 6current ratio 32.65
Current ratio from 5.06 to 32.65; short-term debt falls from €331,922 to €45,740.
14-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
08-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity doublescurrent ratio 17.89
Current ratio from 8.33 to 17.89; short-term debt falls from €386,017 to €174,785.
25-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €560,675
Net result €560,675 after one loss-making year.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet -€34,181
Net result drops to -€34,181, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 9current ratio 199.25
Current ratio from 21.09 to 199.25; short-term debt falls from €142,659 to €14,481.
Show earlier events
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 5current ratio 21.09
Current ratio from 4.47 to 21.09; short-term debt falls from €801,349 to €142,659.
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial 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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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26080069). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 4
KUURNSE BEHEERMAATSCHAPPIJ
CurrentManaging director and chair · since 29-05-2026 · Public limited company · perm. rep.: Defrancq Vincent
Greet Christiaens
CurrentDirector · since 29-05-2026
Renotex
CurrentDirector · since 29-05-2026 · Private limited company · perm. rep.: Defrancq Olivier
KUBEMA NV
CurrentDirector · Legal entity · from a recent act
Day-to-day management 2
KUURNSE BEHEERMAATSCHAPPIJ
CurrentManaging director and chair · since 29-05-2026 · Public limited company · perm. rep.: Defrancq Vincent
KUBEMA NV
CurrentManaging director and chair · Legal entity · from a recent act
Permanent representatives 2
Defrancq Olivier
CurrentPermanent representative · since 29-05-2026 · for Renotex
Defrancq Vincent
CurrentPermanent representative · since 29-05-2026 · for KUURNSE BEHEERMAATSCHAPPIJ
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Kuurne · 1 establishment unit since 1977
Ground area
1,876 m²
Building footprint
1,877 m²
Volume, LiDAR
13,073 m³
Parcel 34023A0392/00S000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SARTEX NV
since 19772.013.515.013
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34023A0392/00S000 | Flanders | 1,876 m² | 1 · 1,877 m² | 9.1 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.
Mandate history
4 people since 2026, 4 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Greet Christiaens |
|
| KUURNSE BEHEERMAATSCHAPPIJ |
|
| Renotex |
|
| KUBEMA NVfrom an act |
|
Articles of association
Board rule
One provision in the deed
Structure & network
Owners and holdings
1 ownerChain of control
- KUURNSE BEHEERMAATSCHAPPIJ
- SARTEX
Highest known parent: KUURNSE BEHEERMAATSCHAPPIJ. The sources do not say who stands above it.
Owners 1
-
88.13%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
3 current directorsThe group is listed under Ownership & control below; here you explore it as a network.
This company
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Shareholding
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Recognitions · licences · registrations
Legal Entity Identifier
967600WLBF2M0X9ECI70
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Identification & contact
Identification
Legal formPublic limited company
Founded16-03-1977
Fiscal year end31-12
Activities, NACEBEL 2025
46412Wholesale of household textiles and bedding
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0417075749
Also
9925:BE0417075749
Registered
12-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.