SASA

Active

Public limited companyfounded 201412 yrs activeEsplanade Oscar Van de Voorde 1, 9000 Gent, BelgiumKBO/BCE: BE 0556.733.676

Summary

SASA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.2m and a net result of -€299,006. Equity is shrinking by ~23% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. The computed 12-month bankruptcy probability is 0.5% (very low).

Risk analysisWatch Report Compare

SASAActiveChecked score 82/100

Risk analysis Report Compare

Activity

Buying and selling of own real estate

NACE 68110NACE 68100

1 site

Size

€5.7mtotal assets 2024

Equity: €3.2m
Loss: -€299,006

Turnover not published (abridged schema)

Financial health

82 Excellent Checked score 2024

Bankruptcy chance 12 m: 0.5%

Structure

Parent: MG Real Estate · 98.79%
Board: 6 members

Auditor: Ernst & Young BedrijfsrevisorenAccounts 45 d early1 of 9 deeds read

Why 82- Figures for FY 2024 (filed 12-08-2025)- Liquidity: current ratio 2.30, cash €58,757+ Size: total assets €5.7m+ Sector Real estate activities (NACE 68)Show the evidence

Checked score

Score 2024

82 / 100

Excellent

Probability in this band: under 0.55%

Better than 53% of its sector peers (NACE 68, small)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2023

Average

Solvency 81+81

equity 56.5% of total assets

Liquidity 30+30

short-term debt 43.5% · cash 1.0%

Profitability 24+1

return on assets -5.3%

Bankruptcy probability, 12 months

0.5% Very low

0%0.5%1.5%4%10%≥ 25%

About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (6,922 companies)

Last 14 months 09-2025: 0.1% 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%▼ -3.0% vs 10-2025lowest value 12-2025: 0.1%● 0.0% vs 11-2025lowest value 01-2026: 0.1%● 0.0% vs 12-2025lowest value 02-2026: 0.1%● 0.0% vs 01-2026lowest value 03-2026: 0.1%▲ +1.6% vs 02-2026 04-2026: 0.1%▲ +9.2% vs 03-2026 05-2026: 0.1%▲ +4.2% vs 04-2026 06-2026: 0.1%▲ +21.6% vs 05-2026 07-2026: 0.1%▲ +18.9% vs 06-2026 08-2026: 0.2%▲ +83.2% vs 07-2026 09-2026: 0.2%▲ +24.5% vs 08-2026 10-2026: 0.5%▲ +103% vs 09-2026highest value

Figures for FY 2024 (filed 12-08-2025) raises the probability
Size: total assets €5.7m lowers the probability for this profile
Liquidity: current ratio 2.30, cash €58,757 raises the probability
Sector Real estate activities (NACE 68) lowers the probability

Credit up to €260,000 at 30 days acceptable

Liquidity ample (current ratio 2.3 against 0.79 in 2023; short-term debt: 43.5% and cash: 1% of total assets), and 43.5% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, small). Better than this share of them on solvency 73%, liquidity 24%, profitability 17%, growth against the median 97%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Figures for FY 2024 (filed 12-08-2025)

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Size: total assets €5.7m

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Liquidity: current ratio 2.30, cash €58,757

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Sector Real estate activities (NACE 68)

In the bankruptcy model this factor lowers the probability.

KBO

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-06-2026, 45 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

45 d early

2024

12 d late

2023

12 d late

2022

42 d early

2021

32 d early

2020

24 d early

2019

29 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 21 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)

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 29 June (4 of the last 5 filed years within 44 days of that day).

Companies Code · seven months

Position in the running window

02-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

11-08-26 Reappointment: Ernst & Young Bedrijfsrevisoren (statutair…Appointments: MG RE Investment BV…
16-06-26 Annual accounts filedfiscal year 2025 · full…
12-08-25 Annual accounts filedfiscal year 2024 · abbreviated…