Sedar
ActiveSummary
Sedar has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €93,940 and a net result of €15,270. Equity is shrinking by ~11.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · fiscal year 2025, full schema
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result returns to profit in 2025: €15,702 after a loss of €2,555 in 2024.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 31,372 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,471 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 31,372 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,854 | €14,855 | €11,418 | €11,884 | €1,866 | €4,028 | €3,901 | €3,883 | ▼ 0.4% |
| Other operating charges640/8 | - | - | - | €7,470 | €8,292 | €8,508 | €17,211 | €9,275 | ▼ 46.1% |
| Gross operating margin9900 | €17,461 | €16,211 | €26,614 | €7,110 | €22,692 | €30,386 | €18,557 | €28,861 | ▲ 55.5% |
| Operating profit (loss)9901 | -€4,347 | -€5,222 | €8,102 | -€12,244 | €12,535 | €17,850 | -€2,555 | €15,702 | ▲ 715% |
| Financial income75/76B | - | - | - | €11 | - | - | €22 | €25 | ▲ 16.2% |
| Recurring financial income75 | €0 | €12 | €12 | €11 | - | - | €22 | €25 | ▲ 16.2% |
| Financial charges65/66B | - | - | - | €269 | €297 | €417 | €421 | €457 | ▲ 8.4% |
| Recurring financial charges65 | €412 | €242 | €64 | €269 | €297 | €417 | €421 | €457 | ▲ 8.4% |
| Profit (loss) for the period before taxes9903 | -€4,759 | -€5,452 | €8,049 | -€12,502 | €12,237 | €17,432 | -€2,954 | €15,271 | ▲ 617% |
| Income taxes67/77 | €0 | €2 | €2 | - | - | - | €1 | €1 | ▼ 24.0% |
| Profit (loss) for the period9904 | -€4,759 | -€5,454 | €8,048 | -€12,502 | €12,237 | €17,432 | -€2,955 | €15,270 | ▲ 617% |
| Profit (loss) for the period to be appropriated9905 | -€4,759 | -€5,454 | €8,048 | -€12,502 | €12,237 | €17,432 | -€2,955 | €15,270 | ▲ 617% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €201,886 | €196,455 | €203,021 | €195,571 | €120,527 | €131,981 | €111,325 | €117,336 | ▲ 5.4% |
| Fixed assets21/28 | €170,047 | €155,192 | €143,774 | €158,390 | €70,760 | €70,031 | €62,830 | €61,335 | ▼ 2.4% |
| Tangible fixed assets22/27 | €170,047 | €155,192 | €143,774 | €158,390 | €70,760 | €66,731 | €62,830 | €61,335 | ▼ 2.4% |
| Land and buildings22 | - | - | - | €158,390 | €70,760 | €66,731 | €62,830 | €59,324 | ▼ 5.6% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | - | €2,011 | - |
| Financial fixed assets28 | - | - | - | - | - | €3,300 | - | - | - |
| Current assets29/58 | €31,839 | €41,263 | €59,247 | €37,182 | €49,767 | €61,950 | €48,494 | €56,000 | ▲ 15.5% |
| Amounts receivable within one year40/41 | - | - | - | - | - | €38,000 | €44,325 | €33,502 | ▼ 24.4% |
| Trade receivables40 | - | - | - | - | - | - | €9,323 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €38,000 | €35,002 | €33,502 | ▼ 4.3% |
| Current investments50/53 | €10,604 | €10,612 | €25,615 | €25,611 | €45,000 | €23,214 | - | €10,347 | - |
| Cash at bank and in hand54/58 | €19,738 | €29,107 | €32,033 | €9,914 | €3,198 | €735 | €4,169 | €12,152 | ▲ 191% |
| Deferred charges and accrued income490/1 | - | - | - | €1,658 | €1,569 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €201,886 | €196,455 | €203,021 | €195,571 | €120,527 | €131,981 | €111,325 | €117,336 | ▲ 5.4% |
| Equity10/15 | €190,808 | €185,354 | €193,402 | €180,900 | €94,193 | €101,625 | €88,670 | €93,940 | ▲ 5.9% |
| Contributions10/11 | €100,397 | €100,397 | €100,397 | €100,397 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | - | €100,397 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | - | €100,397 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €90,411 | €84,957 | €93,005 | €80,503 | €32,693 | €40,125 | €27,170 | €32,440 | ▲ 19.4% |
| Non-distributable reserves130/1 | - | - | - | €10,040 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | - | - | €10,040 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | - | - | - | €70,463 | €26,543 | €33,975 | €21,020 | €26,290 | ▲ 25.1% |
| Amounts payable17/49 | €11,078 | €11,101 | €9,620 | €14,672 | €26,334 | €30,356 | €22,655 | €23,396 | ▲ 3.3% |
| Amounts payable after more than one year17 | €2,850 | €2,850 | €2,850 | €6,740 | €6,740 | €6,740 | €6,740 | €6,740 | = |
| Other amounts payable178/9 | - | - | - | €6,740 | €6,740 | €6,740 | €6,740 | €6,740 | = |
| Amounts payable within one year42/48 | €8,228 | €8,251 | €6,770 | €6,967 | €18,538 | €23,616 | €15,915 | €16,656 | ▲ 4.7% |
| Financial debts43 | - | - | - | €27 | €34 | €36 | €36 | €41 | ▲ 11.6% |
| Credit institutions430/8 | - | - | - | €27 | €34 | €36 | €36 | €41 | ▲ 11.6% |
| Trade debts44 | €8,035 | €8,048 | €6,754 | €6,939 | €8,505 | €13,579 | €5,879 | €6,615 | ▲ 12.5% |
| Suppliers440/4 | - | - | - | €6,939 | €8,505 | €13,579 | €5,879 | €6,615 | ▲ 12.5% |
| Other amounts payable47/48 | - | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | €965 | €1,056 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,759 | -€5,454 | €8,048 | -€12,502 | €12,237 | €17,432 | -€2,955 | €15,270 | ▲ 617% |
| + Depreciation and write-downs630 | €14,854 | €14,855 | €11,418 | €11,884 | €1,866 | €4,028 | €3,901 | €3,883 | ▼ 0.4% |
| Operating cash flow (approximation) | €10,096 | €9,400 | €19,466 | -€618 | €14,103 | €21,461 | €945 | €19,153 | ▲ 1,926% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€26,500 | €85,764 | -€3,300 | €3,300 | -€2,388 | ▼ 172% |
| Change in cash | - | €9,369 | €2,927 | -€22,120 | -€6,715 | -€2,463 | €3,434 | €7,983 | ▲ 132% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.