SATALYS
ActiveSummary
SATALYS has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €14k and a net result of €2k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 11615 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability53▼-25
Solvency33▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 2.81 against 3.38 in 2023; short-term debt: 24.8% and cash: 0.2% of total assets), but 92.2% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2024Solvency, return and age of the figures
Solvency
7.8%
Return on assets
1.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 11615 sector peers (2024).
NBB · sector comparisonPosition among 11615 sector peers
Solvency
better than 13%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €14k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-05-2025, 70 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
70 d early
2023
57 d early
2022
35 d early
2021
31 d early
2020
60 d early
2019
57 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€14k▲ 16.7%
2023 · €12k
Total assets
€177k▲ 12.3%
2023 · €158k
Net result
€2k▼ 83.1%
2023 · €12k
Working capital
€80k▼ 21.8%
2023 · €102k
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
Line20202021202220232024
Operating result€20k€26k▲ 30.1%€2k▼ 94.1%€15k▲ 865%€6k▼ 60.8%
Net result€15k€23k▲ 59.4%€-3k€12k€2k▼ 83.1%
Equity€-21k▲ 41.6%€3k€137▼ 95.1%€12k▲ 8,503%€14k▲ 16.7%
Total assets€184k▼ 8.0%€193k▲ 5.0%€162k▼ 15.9%€158k▼ 2.8%€177k▲ 12.3%
Debt€204k▼ 13.1%€190k▼ 6.9%€162k▼ 14.8%€146k▼ 10.0%€164k▲ 12.0%
Working capital€-13k▲ 37.0%€2k€111k▲ 5,299%€102k▼ 7.8%€80k▼ 21.8%
Staff (FTE)0.1▼ 85.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 61% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €177k
Fixed assets
€54k ▲ 311%
Current assets
€124k ▼ 14.6%
Equity and liabilities €177k
Equity
€14k ▲ 16.7%
Debt
€164k ▲ 12.0%
Debt's share of the balance-sheet total falls from 92.5% to 92.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17k▼
2023 · €23k
Cash flow
€13k▼
2023 · €19k
Current ratio
2.81▼
2023 · 3.38
Quick ratio
0.60▼
2023 · 0.89
Debt to equity
11.86▼
2023 · 12.35
ROE
14.3%▼
2023 · 98.8%
ROA
1.1%▼
2023 · 7.4%
Interest coverage
3.89▼
2023 · 6.88
Debt ≤ 1 year
€44k▲
2023 · €43k
Debt > 1 year
€119k▲
2023 · €103k
Income taxes
€192▼
2023 · €330
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4k | - |
| Remuneration, social security and pensions62 | - | - | - | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €4k | €6k | €8k | €11k | ▲ 43.0% |
| Other operating charges640/8 | - | €1k | €1k | €2k | €1k | ▼ 46.6% |
| Gross operating margin9900 | €30k | €32k | €9k | €25k | €18k | ▼ 27.5% |
| Operating profit (loss)9901 | €20k | €26k | €2k | €15k | €6k | ▼ 60.8% |
| Financial income75/76B | - | - | - | €195 | €576 | ▲ 196% |
| Recurring financial income75 | €656 | - | - | €195 | €576 | ▲ 196% |
| Financial charges65/66B | - | €3k | €4k | €3k | €4k | ▲ 31.3% |
| Recurring financial charges65 | €3k | €3k | €4k | €3k | €4k | ▲ 31.3% |
| Profit (loss) for the period before taxes9903 | €15k | €24k | €-2k | €12k | €2k | ▼ 82.0% |
| Income taxes67/77 | €282 | €296 | €295 | €330 | €192 | ▼ 41.6% |
| Profit (loss) for the period9904 | €15k | €23k | €-3k | €12k | €2k | ▼ 83.1% |
| Profit (loss) for the period to be appropriated9905 | €15k | €23k | €-3k | €12k | €2k | ▼ 83.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €184k | €193k | €162k | €158k | €177k | ▲ 12.3% |
| Fixed assets21/28 | €13k | €15k | €17k | €13k | €54k | ▲ 311% |
| Intangible fixed assets21 | €40 | €26 | €13 | €1k | €66 | ▼ 93.7% |
| Tangible fixed assets22/27 | €13k | €15k | €17k | €12k | €54k | ▲ 346% |
| Plant, machinery and equipment23 | - | €5k | €7k | €7k | €6k | ▼ 20.3% |
| Furniture and vehicles24 | - | €9k | €10k | €4k | €48k | ▲ 961% |
| Other tangible fixed assets26 | - | €128 | €96 | €64 | €32 | ▼ 50.0% |
| Current assets29/58 | €171k | €179k | €145k | €145k | €124k | ▼ 14.6% |
| Stocks and contracts in progress3 | €149k | €129k | €118k | €107k | €97k | ▼ 9.0% |
| Stocks30/36 | - | €129k | €118k | €107k | €97k | ▼ 9.0% |
| Amounts receivable within one year40/41 | €18k | €27k | €20k | €28k | €23k | ▼ 16.5% |
| Trade receivables40 | - | €27k | €20k | €28k | €21k | ▼ 25.4% |
| Other amounts receivable41 | - | €367 | €143 | €545 | €3k | ▲ 435% |
| Cash at bank and in hand54/58 | €2k | €21k | €6k | €8k | €398 | ▼ 94.8% |
| Deferred charges and accrued income490/1 | - | €2k | €1k | €2k | €3k | ▲ 15.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €184k | €193k | €162k | €158k | €177k | ▲ 12.3% |
| Equity10/15 | €-21k | €3k | €137 | €12k | €14k | ▲ 16.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €17k | €17k | €17k | €0 | - | - |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | €15k | €15k | €0 | - | - |
| Profit (loss) carried forward14 | €-56k | €-33k | €-35k | €-7k | €-5k | ▲ 29.0% |
| Amounts payable17/49 | €204k | €190k | €162k | €146k | €164k | ▲ 12.0% |
| Amounts payable after more than one year17 | €20k | €13k | €128k | €103k | €119k | ▲ 16.1% |
| Financial debts170/4 | - | €13k | €128k | €103k | €119k | ▲ 16.1% |
| Amounts payable within one year42/48 | €184k | €177k | €35k | €43k | €44k | ▲ 2.6% |
| Current portion of amounts payable after more than one year42 | - | €6k | €24k | €31k | €25k | ▼ 19.5% |
| Financial debts43 | - | €150k | - | - | - | - |
| Credit institutions430/8 | - | €150k | - | - | - | - |
| Trade debts44 | €14k | €9k | €5k | €8k | €7k | ▼ 10.7% |
| Suppliers440/4 | - | €9k | €5k | €8k | €7k | ▼ 10.7% |
| Taxes, remuneration and social security45 | - | €11k | €6k | €3k | €10k | ▲ 292% |
| Taxes450/3 | - | €11k | €4k | €3k | €8k | ▲ 220% |
| Remuneration and social security454/9 | - | - | €2k | €0 | €2k | - |
| Other amounts payable47/48 | - | - | €56 | €625 | €1k | ▲ 115% |
| Accrued charges and deferred income492/3 | - | €490 | - | €300 | €86 | ▼ 71.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15k | €23k | €-3k | €12k | €2k | ▼ 83.1% |
| + Depreciation and write-downs630 | €8k | €4k | €6k | €8k | €11k | ▲ 43.0% |
| Operating cash flow (approximation) | €23k | €28k | €3k | €19k | €13k | ▼ 33.1% |
| Investment in fixed assets (approximation) | - | €-6k | €-8k | €-4k | €-52k | ▼ 1,358% |
| Change in cash | - | €18k | €-14k | €2k | €-7k | ▼ 561% |
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
2025
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 4.19
Current ratio from 1.01 to 4.19; short-term debt falls from €177k to €35k.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €23k ▲59.4%
Operating result €26k, net result €23k, both a record.
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €15k
Net result €15k after 2 loss-making years.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
31-05
NBB filing
Annual accounts filed
fiscal year 2015 · 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, Kortrijk · 2 establishment units since 2011
Ground area
5,792 m²
Building footprint
5,403 m²
Volume, LiDAR
33,597 m³
2 parcels, Flanders · tallest building 16.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Sint-Elooisdreef(Kor) 28, 8500 Kortrijk
since 20112.202.900.583
Kleine Heerweg 154, 8791 Waregem
since 20162.250.289.934
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34006A0117/00Z003 | Flanders | 5,448 m² | 1 · 5,274 m² | 16.8 m · 2 fl. |
| 34352A0269/00X002 | Flanders | 344 m² | 1 · 129 m² | 10.7 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 3,435 EUR awarded · 3,165 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,455 EUR | 1,185 EUR |
| 2022 | 1 | 1,980 EUR | 1,980 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,561. 3,438 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
Founded05-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
43211General electrical installation work
43240Other construction installation
62200Computer consultancy and computer facilities management
Contact
Website
www.satalys.be
E-mail
info@satalys.be
Scores and ratios are computed by Checked and are not a credit decision.