SAS ELECTRO PROJECTS
ActiveSummary
SAS ELECTRO PROJECTS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22,773 and a net result of -€14,574. Equity is shrinking by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 24% of 7967 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▼-49
Solvency48▼-12
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 0.87 against 1.06 in 2024; short-term debt: 74.6% and cash: 6.9% of total assets), and 76.7% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
23.3%
Return on assets
-14.9%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 7967 sector peers (2025).
NBB · sector comparisonPosition among 7967 sector peers
Solvency
better than 24%
← 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 21-09-2026, 52 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
52 d late
2024
7 d early
2023
63 d late
2022
57 d late
2021
31 d early
2020
4 d late
2019
31 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 15 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 21 September (4 of the last 5 filed years within 59 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€22,773▼ 39.0%
2024 · €37,346
Total assets
€97,553▼ 9.7%
2024 · €108,009
Net result
-€14,574
2024 · €975
Working capital
-€9,476
2024 · €3,761
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,884▼ 1.8%€12,913-€18,372€2,473-€12,737
Net result-€6,297below the sector's middle half€3,776below the sector's middle half-€19,708below the sector's middle half€975below the sector's middle half-€14,574below the sector's middle half
Equity€52,304below the sector's middle half▼ 10.7%€56,079below the sector's middle half▲ 7.2%€36,371below the sector's middle half▼ 35.1%€37,346below the sector's middle half▲ 2.7%€22,773below the sector's middle half▼ 39.0%
Total assets€92,366below the sector's middle half▲ 0.9%€126,083below the sector's middle half▲ 36.5%€151,189below the sector's middle half▲ 19.9%€108,009below the sector's middle half▼ 28.6%€97,553below the sector's middle half▼ 9.7%
Debt€40,062▲ 21.7%€70,004▲ 74.7%€114,818▲ 64.0%€70,662▼ 38.5%€74,780▲ 5.8%
Working capital€41,620within the sector's middle half▼ 18.7%€25,552below the sector's middle half▼ 38.6%€10,736below the sector's middle half▼ 58.0%€3,761below the sector's middle half▼ 65.0%-€9,476below the sector's middle half
Solvency56.6%within the sector's middle half▼ 7.4pp44.5%within the sector's middle half▼ 12.1pp24.1%within the sector's middle half▼ 20.4pp34.6%within the sector's middle half▲ 10.5pp23.3%below the sector's middle half▼ 11.2pp
Current ratio2.04within the sector's middle half▼ 0.611.37within the sector's middle half▼ 0.671.09below the sector's middle half▼ 0.271.06below the sector's middle half▼ 0.030.87below the sector's middle half▼ 0.19
Return on assets (ROA)-6.8%below the sector's middle half▼ 12.1pp3.0%within the sector's middle half▲ 9.8pp-13.0%below the sector's middle half▼ 16.0pp0.9%below the sector's middle half▲ 13.9pp-14.9%below the sector's middle half▼ 15.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 turns negative in 2025: a loss of €12,737 after €2,473 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €97,553
Fixed assets
€34,288 ▼ 15.3%
Current assets
€63,265 ▼ 6.3%
Equity and liabilities €97,553
Equity
€22,773 ▼ 39.0%
Debt
€74,780 ▲ 5.8%
Debt's share of the balance-sheet total rises from 65.4% to 76.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4,279▼
2024 · €14,206
Cash flow
€2,443▼
2024 · €12,709
Quick ratio
0.27▼
2024 · 0.61
Debt to equity
3.28▲
2024 · 1.89
ROE
-64.0%▼
2024 · 2.6%
Interest coverage
2.52▼
2024 · 10.45
Debt ≤ 1 year
€72,741▲
2024 · €63,763
Debt > 1 year
€2,039▼
2024 · €6,899
Income taxes
€141▲
2024 · €140
Staff costs
€349
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,294 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,340 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% | 1.8% |
| 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 1,294 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €349 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,618 | €9,885 | €9,693 | €11,734 | €17,016 | ▲ 45.0% |
| Other operating charges640/8 | €1,099 | €1,343 | €1,188 | €2,072 | €1,992 | ▼ 3.9% |
| Non-recurring operating charges66A | €3,522 | - | - | - | - | - |
| Gross operating margin9900 | -€645 | €24,141 | -€7,491 | €16,279 | €6,620 | ▼ 59.3% |
| Operating profit (loss)9901 | -€9,884 | €12,913 | -€18,372 | €2,473 | -€12,737 | ▼ 615% |
| Financial income75/76B | €5,462 | €44 | €30 | €1 | - | - |
| Recurring financial income75 | €5,462 | €44 | €30 | €1 | - | - |
| Financial charges65/66B | €1,523 | €8,326 | €967 | €1,359 | €1,696 | ▲ 24.8% |
| Recurring financial charges65 | €1,523 | €8,326 | €967 | €1,359 | €1,696 | ▲ 24.8% |
| Profit (loss) for the period before taxes9903 | -€5,945 | €4,632 | -€19,309 | €1,114 | -€14,433 | ▼ 1,395% |
| Income taxes67/77 | €353 | €856 | €399 | €140 | €141 | ▲ 1.0% |
| Profit (loss) for the period9904 | -€6,297 | €3,776 | -€19,708 | €975 | -€14,574 | ▼ 1,595% |
| Profit (loss) for the period to be appropriated9905 | -€6,297 | €3,776 | -€19,708 | €975 | -€14,574 | ▼ 1,595% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €92,366 | €126,083 | €151,189 | €108,009 | €97,553 | ▼ 9.7% |
| Fixed assets21/28 | €10,684 | €30,528 | €25,635 | €40,485 | €34,288 | ▼ 15.3% |
| Tangible fixed assets22/27 | €10,684 | €30,528 | €25,635 | €40,485 | €34,288 | ▼ 15.3% |
| Land and buildings22 | - | - | - | - | €3,159 | - |
| Plant, machinery and equipment23 | €7,360 | €7,388 | €8,882 | €22,113 | €18,877 | ▼ 14.6% |
| Furniture and vehicles24 | €3,324 | €23,140 | €16,753 | €18,371 | €12,252 | ▼ 33.3% |
| Current assets29/58 | €81,682 | €95,555 | €125,554 | €67,524 | €63,265 | ▼ 6.3% |
| Stocks and contracts in progress3 | €14,947 | €7,545 | €9,627 | €28,563 | €43,536 | ▲ 52.4% |
| Stocks30/36 | €7,545 | €7,545 | €9,627 | €25,127 | €25,780 | ▲ 2.6% |
| Contracts in progress37 | €7,402 | - | - | €3,436 | €17,755 | ▲ 417% |
| Amounts receivable within one year40/41 | €60,947 | €87,731 | €108,003 | €31,747 | €12,774 | ▼ 59.8% |
| Trade receivables40 | €57,069 | €78,685 | €100,273 | €31,747 | €8,140 | ▼ 74.4% |
| Other amounts receivable41 | €3,878 | €9,045 | €7,730 | - | €4,634 | - |
| Cash at bank and in hand54/58 | €3,857 | €163 | €7,668 | €7,002 | €6,705 | ▼ 4.2% |
| Deferred charges and accrued income490/1 | €1,931 | €116 | €256 | €212 | €250 | ▲ 17.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €92,366 | €126,083 | €151,189 | €108,009 | €97,553 | ▼ 9.7% |
| Equity10/15 | €52,304 | €56,079 | €36,371 | €37,346 | €22,773 | ▼ 39.0% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €48,601 | €48,601 | €48,601 | €48,601 | €48,601 | = |
| Distributable reserves133 | €48,601 | €48,601 | €48,601 | €48,601 | €48,601 | = |
| Profit (loss) carried forward14 | -€6,297 | -€2,522 | -€22,230 | -€21,255 | -€35,829 | ▼ 68.6% |
| Amounts payable17/49 | €40,062 | €70,004 | €114,818 | €70,662 | €74,780 | ▲ 5.8% |
| Amounts payable after more than one year17 | - | - | - | €6,899 | €2,039 | ▼ 70.4% |
| Financial debts170/4 | - | - | - | €6,899 | €2,039 | ▼ 70.4% |
| Amounts payable within one year42/48 | €40,062 | €70,004 | €114,818 | €63,763 | €72,741 | ▲ 14.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,577 | €5,885 | ▼ 10.5% |
| Trade debts44 | €37,371 | €36,830 | €68,840 | €10,523 | €9,665 | ▼ 8.1% |
| Suppliers440/4 | €37,371 | €36,830 | €68,840 | €10,523 | €9,665 | ▼ 8.1% |
| Taxes, remuneration and social security45 | €353 | €1,209 | €16,840 | €2,988 | €678 | ▼ 77.3% |
| Taxes450/3 | €353 | €1,209 | €2,863 | €2,988 | €678 | ▼ 77.3% |
| Remuneration and social security454/9 | - | - | €13,977 | - | - | - |
| Other amounts payable47/48 | €2,339 | €31,965 | €29,138 | €43,675 | €56,512 | ▲ 29.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,297 | €3,776 | -€19,708 | €975 | -€14,574 | ▼ 1,595% |
| + Depreciation and write-downs630 | €4,618 | €9,885 | €9,693 | €11,734 | €17,016 | ▲ 45.0% |
| Operating cash flow (approximation) | -€1,680 | €13,660 | -€10,015 | €12,709 | €2,443 | ▼ 80.8% |
| Investment in fixed assets (approximation) | - | -€29,728 | -€4,800 | -€26,583 | -€10,820 | ▲ 59.3% |
| Change in cash | - | -€3,694 | €7,505 | -€667 | -€296 | ▲ 55.6% |
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
21-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 52 days late
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €975
Net result €975 after one loss-making year.
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 63 days late
2023
31-12
Financial
Weakest financial yearnet -€19,708
Net result drops to -€19,708, the lowest in the series; recovery starts the following year.
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 57 days late
2022
31-12
Financial
Back to profitnet €3,776
Net result €3,776 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
04-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 4 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €16,042 ▲327%
Operating result €24,233, net result €16,042, both a record.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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.
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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, Lille · 1 establishment unit since 2014
Ground area
2,053 m²
Building footprint
241 m²
Volume, LiDAR
1,401 m³
2 parcels, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Gerdieke pluktuin
since 20142.231.826.379
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13019E0266/00E000 | Flanders | 1,079 m² | 1 · 112 m² | 9.4 m · 2 fl. |
| 13019E0266/00D000 | Flanders | 974 m² | 1 · 129 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 22,827 companies in sector 43211 we hold annual accounts for 10,338. 7,471 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0552655916
Also
9925:BE0552655916
Registered
24-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.