SAZ
ActiveSummary
The computed 12-month bankruptcy probability of SAZ is 2.1% (moderate). For SAZ, at least two filing cycles of the annual accounts are missing. The 2022 annual accounts show equity of €34,627 and a net result of -€3,590. Equity is growing by ~88.8% per year across the filed fiscal years. The company has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2022 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2022 · tick = 2021
Profitability25▼-75
Solvency87▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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 2022Solvency, return and age of the figures
Solvency
62.2%
Return on assets
-6.4%
Age of the figures
45 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 · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline29-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 31-12-2023, 153 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
153 d late
2021
92 d late
2020
153 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 123 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2022, micro schema
Equity
€34,627▼ 9.4%
2021 · €38,217
Total assets
€55,705▼ 8.4%
2021 · €60,817
Net result
-€3,590
2021 · €27,578
Working capital
€27,642▼ 9.3%
2021 · €30,461
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
Line20182019202020212022
Operating result€5,989-€3,991▼ 33.4%€6,010▲ 50.6%€28,265▲ 370%-€2,715
Net result€4,969-€3,222▼ 35.2%€4,524▲ 40.4%€27,578▲ 510%-€3,590
Equity€2,894-€6,116▲ 111%€10,639▲ 74.0%€38,217▲ 259%€34,627▼ 9.4%
Total assets€55,158-€40,115▼ 27.3%€34,472▼ 14.1%€60,817▲ 76.4%€55,705▼ 8.4%
Debt€52,264-€34,000▼ 34.9%€23,832▼ 29.9%€22,599▼ 5.2%€21,078▼ 6.7%
Working capital€13,294-€7,936▼ 40.3%€10,679▲ 34.6%€30,461▲ 185%€27,642▼ 9.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €2,715 after €28,265 in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €55,705
Fixed assets
€12,432 ▼ 25.6%
Current assets
€43,273 ▼ 1.9%
Equity and liabilities €55,705
Equity
€34,627 ▼ 9.4%
Debt
€21,078 ▼ 6.7%
Debt's share of the balance-sheet total rises from 37.2% to 37.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1,555▼
2021 · €30,440
Cash flow
€679▼
2021 · €29,754
Current ratio
2.77▼
2021 · 3.23
Quick ratio
0.79▼
2021 · 2.38
Debt to equity
0.61▲
2021 · 0.59
ROE
-10.4%▼
2021 · 72.2%
ROA
-6.4%▼
2021 · 45.3%
Interest coverage
1.77▼
2021 · 26.68
Debt ≤ 1 year
€15,631▲
2021 · €13,654
Debt > 1 year
€5,447▼
2021 · €8,945
Income taxes
€84▲
2021 · €80
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,304 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €980 | €720 | €720 | €2,176 | €4,269 | ▲ 96.2% |
| Other operating charges640/8 | - | - | - | €1,902 | €1,244 | ▼ 34.6% |
| Non-recurring operating charges66A | - | - | - | €1,041 | - | - |
| Gross operating margin9900 | €8,594 | €8,576 | €8,265 | €34,687 | €2,799 | ▼ 91.9% |
| Operating profit (loss)9901 | €5,989 | €3,991 | €6,010 | €28,265 | -€2,715 | ▼ 110% |
| Financial income75/76B | - | - | - | €535 | €88 | ▼ 83.6% |
| Recurring financial income75 | €29 | €23 | €38 | €50 | €88 | ▲ 75.2% |
| Non-recurring financial income76B | - | - | - | €485 | - | - |
| Financial charges65/66B | - | - | - | €1,141 | €879 | ▼ 22.9% |
| Recurring financial charges65 | €568 | €646 | €1,409 | €1,141 | €879 | ▼ 22.9% |
| Profit (loss) for the period before taxes9903 | €5,085 | €3,368 | €4,638 | €27,658 | -€3,506 | ▼ 113% |
| Income taxes67/77 | €117 | €146 | €114 | €80 | €84 | ▲ 4.8% |
| Profit (loss) for the period9904 | €4,969 | €3,222 | €4,524 | €27,578 | -€3,590 | ▼ 113% |
| Profit (loss) for the period to be appropriated9905 | €4,969 | €3,222 | €4,524 | €27,578 | -€3,590 | ▼ 113% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55,158 | €40,115 | €34,472 | €60,817 | €55,705 | ▼ 8.4% |
| Fixed assets21/28 | €1,800 | €4,680 | €3,960 | €16,702 | €12,432 | ▼ 25.6% |
| Tangible fixed assets22/27 | - | €2,880 | €2,160 | €14,902 | €10,632 | ▼ 28.6% |
| Furniture and vehicles24 | - | - | - | €14,902 | €10,632 | ▼ 28.6% |
| Financial fixed assets28 | €1,800 | €1,800 | €1,800 | €1,800 | €1,800 | = |
| Current assets29/58 | €53,358 | €35,435 | €30,512 | €44,115 | €43,273 | ▼ 1.9% |
| Stocks and contracts in progress3 | €46,966 | €23,684 | €18,192 | €11,578 | €30,997 | ▲ 168% |
| Stocks30/36 | - | - | - | €11,578 | €30,997 | ▲ 168% |
| Amounts receivable within one year40/41 | €1,406 | - | €115 | - | €66 | - |
| Other amounts receivable41 | - | - | - | - | €66 | - |
| Cash at bank and in hand54/58 | €4,578 | €10,952 | €11,471 | €32,537 | €12,209 | ▼ 62.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55,158 | €40,115 | €34,472 | €60,817 | €55,705 | ▼ 8.4% |
| Equity10/15 | €2,894 | €6,116 | €10,639 | €38,217 | €34,627 | ▼ 9.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €19,617 | €19,617 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €17,757 | €17,757 | = |
| Profit (loss) carried forward14 | -€17,566 | -€14,344 | -€9,821 | - | -€3,590 | - |
| Amounts payable17/49 | €52,264 | €34,000 | €23,832 | €22,599 | €21,078 | ▼ 6.7% |
| Amounts payable after more than one year17 | €12,200 | €6,500 | €4,000 | €8,945 | €5,447 | ▼ 39.1% |
| Financial debts170/4 | - | - | - | €8,945 | €5,447 | ▼ 39.1% |
| Amounts payable within one year42/48 | €40,064 | €27,500 | €19,832 | €13,654 | €15,631 | ▲ 14.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,395 | €3,498 | ▲ 3.0% |
| Financial debts43 | - | - | - | €1,145 | €3,537 | ▲ 209% |
| Credit institutions430/8 | - | - | - | €1,145 | €3,537 | ▲ 209% |
| Trade debts44 | €10,208 | €11,644 | €7,842 | €6,741 | €6,543 | ▼ 2.9% |
| Suppliers440/4 | - | - | - | €6,741 | €6,543 | ▼ 2.9% |
| Taxes, remuneration and social security45 | - | - | - | €478 | €373 | ▼ 22.0% |
| Taxes450/3 | - | - | - | €478 | €173 | ▼ 63.8% |
| Remuneration and social security454/9 | - | - | - | - | €200 | - |
| Other amounts payable47/48 | - | - | - | €1,896 | €1,679 | ▼ 11.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,969 | €3,222 | €4,524 | €27,578 | -€3,590 | ▼ 113% |
| + Depreciation and write-downs630 | €980 | €720 | €720 | €2,176 | €4,269 | ▲ 96.2% |
| Operating cash flow (approximation) | €5,949 | €3,942 | €5,244 | €29,754 | €679 | ▼ 97.7% |
| Investment in fixed assets (approximation) | - | -€3,600 | €0 | -€14,917 | €0 | ▲ 100% |
| Change in cash | - | €6,374 | €519 | €21,066 | -€20,327 | ▼ 196% |
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
2026
18-08
State Gazette act
Resignation: Sadiq Shahid (manager)Appointment: Boghean Cosmin-lonut (director) · Share transfer · Registered-office move9 facts ▸
State Gazette act
Resignation: Sadiq Shahid (manager)
Appointment: Boghean Cosmin-lonut (director) · Share transfer · Registered-office move9 facts ▸
- General meeting, 30-05-2026
- Director resignation, Sadiq Shahid (manager)
- Director appointment, Boghean Cosmin-lonut (director)
- Share transfer, Sadiq Shahid → Boghean Cosmin-lonut
- Registered-office move, Van Dijcklaan 51, box1,1930 Zaventem
- Shareholding, 30-05-2026, 100
- General meeting, 30-05-2026
- Director in office, Boghean Cosmin-lonut (director)
- Director resignation, Sadiq Shahid (ontslagnemende bestuurder)
2023
31-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 153 days late
2022
31-12
Financial
Weakest financial yearnet -€3,590
Net result drops to -€3,590, the lowest in the series.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
Financial
Highest result since 2018net €27,578 ▲510%
Operating result €28,265, net result €27,578, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.23
Current ratio from 1.54 to 3.23; short-term debt falls from €19,832 to €13,654.
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 153 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 61 days late
2014
30-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 61 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Boghean Cosmin-lonut
CurrentDirector · since 30-05-2026
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
4 of this company's 5 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, Zaventem
Ground area
565 m²
Building footprint
451 m²
Volume, LiDAR
4,073 m³
Parcel 23094A0282/00F002, Flanders · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094A0282/00F002 | Flanders | 565 m² | 1 · 451 m² | 13.8 m · 4 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
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Boghean Cosmin-lonut |
|
| Sadiq Shahid |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 18-08-2026 ↗
- Boghean Cosmin-lonut 100%
Share transfer
act of 18-08-2026 ↗
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded20-06-2003
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862683950
Also
9925:BE0862683950
Registered
26-08-2025
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.