SAS
ActiveSAS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €121k and a net result of €50k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 7892 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency22▲+7
Growth78=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.99 against 0.93 in 2024), and 83.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
16.3%
Return on assets
6.7%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 7892 sector peers (2025).
NBB · sector comparisonPosition among 7892 sector peers
Solvency
better than 22%
← weakest
strongest →
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €121k
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 22-05-2026, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
70 d early
2024
14 d early
2023
1 d early
2022
25 d late
2021
25 d late
2020
30 d late
2019
89 d late
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€121k▲ 70.8%
2024 · €71k
2018: €30k
2019: €23k
2020: €17k
2021: €4k
2022: €18k
2023: €43k
2024: €71k
2018 → 2025
Total assets
€745k▼ 10.1%
2024 · €829k
2018: €493k
2019: €596k
2020: €522k
2021: €547k
2022: €632k
2023: €675k
2024: €829k
2018 → 2025
Net result
€50k▲ 82.7%
2024 · €27k
2018: €7k
2019: €-7k
2020: €-6k
2021: €-13k
2022: €14k
2023: €25k
2024: €27k
2018 → 2025
Working capital
€-8k▲ 85.6%
2024 · €-53k
2018: €-52k
2019: €-70k
2020: €-75k
2021: €-99k
2022: €-90k
2023: €-91k
2024: €-53k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€4k-€18k▲ 360%€43k▲ 137%€71k▲ 63.3%€121k▲ 70.8%
Operating result€-9k-€17k€33k▲ 96.2%€40k▲ 22.1%€35k▼ 13.3%
Net result€-13k-€14k€25k▲ 74.9%€27k▲ 9.6%€50k▲ 82.7%
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 2025; 2025 is 13% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €745k
Fixed assets
€129k▲ 4.2%
Current assets
€616k▼ 12.6%
Equity and liabilities €745k
Equity
€121k▲ 70.8%
Debt
€624k▼ 17.7%
The debt ratio falls from 91.4% to 83.7%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€54k▼
2024 · €57k
Cash flow
€70k▲
2024 · €45k
Solvency
16.3%▲
2024 · 8.6%
Current ratio
0.99▲
2024 · 0.93
Quick ratio
0.82▼
2024 · 0.82
Debt / equity
5.15▼
2024 · 10.69
ROE
41.5%▲
2024 · 38.8%
ROA
6.7%▲
2024 · 3.3%
Interest coverage
4.08▼
2024 · 13.19
Debt
€624k▼
2024 · €758k
Debt ≤ 1 year
€624k▼
2024 · €758k
Income taxes
€14k▲
2024 · €8k
Staff costs
€59k▲
2024 · €18k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€829k€745k▼
Fixed assets21/28€124k€129k▲
Intangible fixed assets21€405€305▼
Tangible fixed assets22/27€123k€128k▲
Land and buildings22€83k€93k▲
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€36k€33k▼
Financial fixed assets28€270€270=
Current assets29/58€705k€616k▼
Stocks and contracts in progress3€80k€106k▲
Stocks30/36€80k€106k▲
Amounts receivable within one year40/41€506k€482k▼
Trade receivables40€487k€191k▼
Other amounts receivable41€19k€291k▲
Cash at bank and in hand54/58€112k€26k▼
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€829k€745k▼
Equity10/15€71k€121k▲
Contributions10/11€19k€19k=
Reserves13€13k€13k=
Distributable reserves133€13k€13k=
Profit (loss) carried forward14€39k€89k▲
Amounts payable17/49€758k€624k▼
Amounts payable within one year42/48€758k€624k▼
Current portion of amounts payable after more than one year42€75k€62k▼
Trade debts44€670k€550k▼
Suppliers440/4€670k€550k▼
Taxes, remuneration and social security45€13k€9k▼
Taxes450/3€10k€5k▼
Remuneration and social security454/9€2k€5k▲
Other amounts payable47/48-€2k
Income statement
Code20242025
Non-recurring operating income76A€15k-
Remuneration, social security and pensions62€18k€59k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€20k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€4k
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€2k€539▼
Gross operating margin9900€80k€119k▲
Operating profit (loss)9901€40k€35k▼
Financial income75/76B€2€43k▲
Recurring financial income75€2€43k▲
Financial charges65/66B€4k€13k▲
Recurring financial charges65€4k€13k▲
Profit (loss) for the period before taxes9903€36k€64k▲
Income taxes67/77€8k€14k▲
Profit (loss) for the period9904€27k€50k▲
Profit (loss) for the period to be appropriated9905€27k€50k▲
Appropriation of the result
Profit (loss) to be appropriated9906€39k€89k▲
Profit (loss) brought forward from the previous period14P€11k€39k▲
Social balance
Average headcount (FTE)90870.11.0▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-09
State Gazette act
Merger · Corporate purposeMerger · Corporate purpose · Accounting effect9 facts ▸
State Gazette act
Merger · Corporate purpose
Merger · Corporate purpose · Accounting effect9 facts ▸
- Merger, fusion by absorption
- Corporate purpose, aan- en verkoop, groot-, middelgroot- en kleinhandel van gist, grondstoffen, doorverkoopartikelen, diepvriesartikelen en gereedschappen bestemd voor bakkerijen,…
- Corporate purpose, De groothandel en handelsbemiddeling in oeieren en eierproducten; zuivelproducten (melk, boter en eieren); bakkerijgrondstoffen en horecaproducten; andere voedi…
- Accounting effect, 2026-07-01
- Real estate, 100% van de volle eigendom van een nijverheidsgebouw op en met grond en alle verdere aanhorigheden gelegen te Tongeren-Borgloon, zesentwintigste afdeling, Groot…
- Power of attorney, ABS Bureau
- Power of attorney, ABS Bureau
- Share transfer, SAS → BAKKERSGOUD
- Real estate book value, 2026-06-30
22-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €50k ▲82.7%
Net result €50k, the highest in the series.
31-12
Financial
Equity above €100kEq €121k ▲70.8%
4 profitable years in a row build equity to €121k.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 25 days late
2022
31-12
Financial
Back to profitnet €14k
Net result €14k after 3 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2024
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
18-11-2024
Resigned as Director
Location & real-estate footprint
Registered office, Tongeren-Borgloon · 1 establishment unit since 2004
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.
Grootloonstraat 11363840 Tongeren-BorgloonGround area
1,184 m²
Building footprint
451 m²
Volume, LiDAR
1,540 m³
Parcel 73018A0106/00G002, Flanders · tallest building 8.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Sas
since 20042.138.718.059
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73018A0106/00G002 | Flanders | 1,184 m² | 1 · 451 m² | 8.4 m · 1 fl. |
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.
Similar companies · same sector, comparable size
BTA COMPANY
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MAISON DAUCHOT - LEONET
BE 0428.529.370
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Chez Maître Corbeau
BE 0695.935.606
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SPAPENS
BE 0429.984.568
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HNA KAASMAKERIJ
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Of 389 companies in sector 46331 we hold annual accounts for 227. 127 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-06-2003
Fiscal year end31-12
Activities, NACEBEL
46331Wholesale trade
51331
46389Wholesale of other food products
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.