SIDEM
ActiveSummary
SIDEM has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51.9m and a net result of €8.6m. Equity is growing by ~10.8% per year across the filed fiscal years. Its solvency ranks better than 88% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▼-11
Solvency100=
Growth69▼-2
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 7.61 against 6.23 in 2024; short-term debt: 12.5% and cash: 47.8% of total assets), and 16.7% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : 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
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
83.3%
Return on assets
13.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
8 d early
2023
7 d early
2022
5 d early
2021
31 d late
2020
7 d early
2019
17 d late
← 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 6 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Wevelgem, Wholesale and retail trade sector#1 company by equity in Wevelgem, Wholesale and retail trade sector#4 employer in Wevelgem, Wholesale and retail trade sector
Turnover
€46.6m▼ 6.1%
2024 · €49.6m
EBIT margin
16.0%▼ 3.4pp
2024 · 19.4%
Net result
€8.6m▼ 23.9%
2024 · €11.3m
Working capital
€51.4m▲ 23.0%
2024 · €41.8m
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
Line20212022202320242025
Turnover€35.1m▲ 18.3%€40.7m▲ 15.9%€43.5m▲ 6.8%€49.6m▲ 14.0%€46.6m▼ 6.1%
Operating result€4.8m▼ 4.1%€4.4m▼ 8.2%€4.9m▲ 13.0%€9.6m▲ 94.9%€7.5m▼ 22.4%
Net result€5.7m▼ 27.2%€8.1m▲ 40.7%€5.5m▼ 32.2%€11.3m▲ 106%€8.6m▼ 23.9%
EBIT margin13.5%▼ 3.2pp10.7%▼ 2.8pp11.3%▲ 0.6pp19.4%▲ 8.1pp16.0%▼ 3.4pp
Equity€26.7m▲ 8.1%€30.8m▲ 15.4%€32.9m▲ 6.7%€43.4m▲ 32.0%€51.9m▲ 19.6%
Total assets€43.6m▲ 7.5%€43.2m▼ 0.8%€48.4m▲ 12.0%€53.2m▲ 9.9%€62.3m▲ 17.2%
Debt€16.7m▲ 6.5%€12.2m▼ 26.8%€15.3m▲ 25.3%€9.5m▼ 37.6%€10.2m▲ 6.5%
Working capital€31.1m▲ 16.4%€28.2m▼ 9.3%€35.6m▲ 26.2%€41.8m▲ 17.6%€51.4m▲ 23.0%
Staff (FTE)25.8▼ 1.9%32▲ 24.0%33.7▲ 5.3%34.2▲ 1.5%35.7▲ 4.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 22% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62.3m
Fixed assets
€3.1m ▼ 7.7%
Current assets
€59.2m ▲ 18.8%
Equity and liabilities €62.3m
Equity
€51.9m ▲ 19.6%
Provisions
€251,090 ▲ 1.4%
Debt
€10.2m ▲ 6.5%
Debt's share of the balance-sheet total falls from 17.9% to 16.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7.7m▼
2024 · €9.8m
Cash flow
€8.8m▼
2024 · €11.5m
Current ratio
7.61▲
2024 · 6.23
Quick ratio
6.29▲
2024 · 5.21
Debt to equity
0.20▼
2024 · 0.22
ROE
16.5%▼
2024 · 26.0%
ROA
13.8%▼
2024 · 21.2%
Interest coverage
144.40▼
2024 · 178.45
Debt ≤ 1 year
€7.8m▼
2024 · €8.0m
Debt > 1 year
€2.4m▲
2024 · €1.5m
Income taxes
€1.9m▼
2024 · €2.6m
Staff costs
€2.1m▲
2024 · €2.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 20,082 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €35.4m | €41.1m | €44.0m | €50.1m | €47.3m | ▼ 5.7% |
| Turnover70 | €35.1m | €40.7m | €43.5m | €49.6m | €46.6m | ▼ 6.1% |
| Other operating income74 | €239,247 | €374,096 | €520,031 | €568,158 | €724,065 | ▲ 27.4% |
| Operating charges60/66A | €30.6m | €36.7m | €39.1m | €40.5m | €39.8m | ▼ 1.7% |
| Goods for resale, raw materials and consumables60 | €21.8m | €26.0m | €28.0m | €29.0m | €28.1m | ▼ 3.1% |
| Purchases600/8 | €25.1m | €26.7m | €29.6m | €26.0m | €30.3m | ▲ 16.4% |
| Change in stocks: decrease (increase)609 | -€3.3m | -€630,838 | -€1.5m | €3.0m | -€2.2m | ▼ 172% |
| Services and other goods61 | €7.3m | €8.7m | €8.7m | €9.2m | €9.3m | ▲ 0.9% |
| Remuneration, social security and pensions62 | €1.3m | €1.8m | €2.0m | €2.0m | €2.1m | ▲ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €104,167 | €117,395 | €163,864 | €218,706 | €264,962 | ▲ 21.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €68,121 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €27,471 | €27,654 | €13,866 | €30,302 | €3,451 | ▼ 88.6% |
| Other operating charges640/8 | €52,862 | €56,454 | €58,132 | €62,529 | €74,092 | ▲ 18.5% |
| Non-recurring operating charges66A | - | - | €43,885 | €7,355 | €6,411 | ▼ 12.8% |
| Operating profit (loss)9901 | €4.8m | €4.4m | €4.9m | €9.6m | €7.5m | ▼ 22.4% |
| Financial income75/76B | €2.7m | €5.9m | €2.4m | €4.4m | €3.5m | ▼ 20.7% |
| Recurring financial income75 | €2.7m | €5.9m | €2.4m | €4.4m | €3.5m | ▼ 20.7% |
| Income from financial fixed assets750 | €2.1m | €4.3m | €1.6m | €3.0m | €2.8m | ▼ 7.9% |
| Income from current assets751 | €248,790 | €305,327 | €469,545 | €1.1m | €614,026 | ▼ 43.6% |
| Other financial income752/9 | €382,670 | €1.4m | €279,574 | €297,024 | €101,795 | ▼ 65.7% |
| Financial charges65/66B | €602,626 | €988,545 | €542,986 | €195,084 | €503,687 | ▲ 158% |
| Recurring financial charges65 | €602,626 | €988,545 | €542,986 | €195,084 | €503,687 | ▲ 158% |
| Debt charges650 | €123,695 | €98,542 | €38,914 | €55,067 | €53,476 | ▼ 2.9% |
| Other financial charges652/9 | €478,930 | €890,003 | €504,071 | €140,016 | €450,211 | ▲ 222% |
| Profit (loss) for the period before taxes9903 | €6.9m | €9.3m | €6.8m | €13.8m | €10.5m | ▼ 24.4% |
| Income taxes67/77 | €1.2m | €1.3m | €1.3m | €2.6m | €1.9m | ▼ 26.5% |
| Taxes670/3 | €1.2m | €1.3m | €1.3m | €2.6m | €1.9m | ▼ 26.5% |
| Tax adjustments and reversals of tax provisions77 | €0 | €14 | - | - | €372 | - |
| Profit (loss) for the period9904 | €5.7m | €8.1m | €5.5m | €11.3m | €8.6m | ▼ 23.9% |
| Transfer from tax-exempt reserves789 | €561,100 | €749,999 | €315,750 | €631,500 | €1.5m | ▲ 140% |
| Transfer to tax-exempt reserves689 | €989,350 | €2.0m | €999,875 | €989,350 | €989,350 | = |
| Profit (loss) for the period to be appropriated9905 | €5.3m | €6.8m | €4.8m | €10.9m | €9.1m | ▼ 16.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €43.6m | €43.2m | €48.4m | €53.2m | €62.3m | ▲ 17.2% |
| Fixed assets21/28 | €2.9m | €3.9m | €3.4m | €3.4m | €3.1m | ▼ 7.7% |
| Intangible fixed assets21 | - | - | - | - | €6,227 | - |
| Tangible fixed assets22/27 | €312,946 | €471,759 | €658,817 | €740,175 | €1.1m | ▲ 44.4% |
| Land and buildings22 | €51,728 | €66,363 | €58,866 | €51,475 | €44,146 | ▼ 14.2% |
| Plant, machinery and equipment23 | €239,318 | €333,029 | €539,266 | €516,628 | €667,950 | ▲ 29.3% |
| Furniture and vehicles24 | €21,900 | €72,368 | €60,685 | €172,071 | €356,403 | ▲ 107% |
| Financial fixed assets28 | €2.6m | €3.4m | €2.8m | €2.7m | €2.1m | ▼ 22.4% |
| Affiliated companies280/1 | €2.6m | €3.4m | €2.8m | €2.7m | €2.1m | ▼ 22.4% |
| Participating interests280 | €1.5m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Amounts receivable281 | €1.0m | €2.0m | €1.4m | €1.3m | €693,329 | ▼ 46.2% |
| Current assets29/58 | €40.7m | €39.4m | €45.0m | €49.8m | €59.2m | ▲ 18.8% |
| Stocks and contracts in progress3 | €9.1m | €9.9m | €11.4m | €8.1m | €10.3m | ▲ 26.5% |
| Stocks30/36 | €9.1m | €9.9m | €11.4m | €8.1m | €10.3m | ▲ 26.5% |
| Goods purchased for resale34 | €8.9m | €9.6m | €11.1m | €8.1m | €10.3m | ▲ 26.5% |
| Advance payments36 | €161,430 | €376,365 | €312,582 | - | - | - |
| Amounts receivable within one year40/41 | €10.4m | €14.5m | €12.6m | €16.5m | €10.9m | ▼ 33.8% |
| Trade receivables40 | €10.1m | €13.5m | €12.1m | €16.2m | €10.7m | ▼ 33.6% |
| Other amounts receivable41 | €294,859 | €911,167 | €496,318 | €337,145 | €191,114 | ▼ 43.3% |
| Current investments50/53 | €6.7m | €4.6m | €10.9m | €16.9m | €8.2m | ▼ 51.4% |
| Other investments51/53 | €6.7m | €4.6m | €10.9m | €16.9m | €8.2m | ▼ 51.4% |
| Cash at bank and in hand54/58 | €14.5m | €10.3m | €10.1m | €8.3m | €29.8m | ▲ 257% |
| Deferred charges and accrued income490/1 | €5,309 | €45,845 | €3,706 | €1,230 | €5,134 | ▲ 317% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €43.6m | €43.2m | €48.4m | €53.2m | €62.3m | ▲ 17.2% |
| Equity10/15 | €26.7m | €30.8m | €32.9m | €43.4m | €51.9m | ▲ 19.6% |
| Contributions10/11 | €371,840 | €371,840 | €371,840 | €371,840 | €371,840 | = |
| Capital10 | €371,840 | €371,840 | €371,840 | €371,840 | €371,840 | = |
| Issued capital100 | €371,840 | €371,840 | €371,840 | €371,840 | €371,840 | = |
| Reserves13 | €26.2m | €30.4m | €32.4m | €43.0m | €51.5m | ▲ 19.8% |
| Non-distributable reserves130/1 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Legal reserve130 | €37,184 | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Tax-exempt reserves132 | €2.7m | €3.9m | €4.6m | €5.0m | €4.5m | ▼ 10.5% |
| Distributable reserves133 | €23.5m | €26.4m | €27.8m | €38.0m | €47.0m | ▲ 23.8% |
| Profit (loss) carried forward14 | €91,443 | €95,543 | €82,651 | €72,688 | €76,676 | ▲ 5.5% |
| Provisions and deferred taxes16 | €175,817 | €203,472 | €217,337 | €247,640 | €251,090 | ▲ 1.4% |
| Provisions for liabilities and charges160/5 | €175,817 | €203,472 | €217,337 | €247,640 | €251,090 | ▲ 1.4% |
| Other liabilities and charges164/5 | €175,817 | €203,472 | €217,337 | €247,640 | €251,090 | ▲ 1.4% |
| Amounts payable17/49 | €16.7m | €12.2m | €15.3m | €9.5m | €10.2m | ▲ 6.5% |
| Amounts payable after more than one year17 | €7.0m | €1.0m | €5.8m | €1.5m | €2.4m | ▲ 53.1% |
| Other amounts payable178/9 | €7.0m | €1.0m | €5.8m | €1.5m | €2.4m | ▲ 53.1% |
| Amounts payable within one year42/48 | €9.7m | €11.2m | €9.5m | €8.0m | €7.8m | ▼ 2.7% |
| Financial debts43 | - | - | - | €79,371 | - | - |
| Credit institutions430/8 | - | - | - | €79,371 | - | - |
| Trade debts44 | €5.4m | €6.2m | €5.3m | €6.5m | €7.2m | ▲ 11.3% |
| Suppliers440/4 | €5.4m | €6.2m | €5.3m | €6.5m | €7.2m | ▲ 11.3% |
| Taxes, remuneration and social security45 | €314,277 | €610,246 | €660,001 | €710,021 | €513,625 | ▼ 27.7% |
| Taxes450/3 | €158,640 | €367,633 | €387,563 | €431,198 | €292,656 | ▼ 32.1% |
| Remuneration and social security454/9 | €155,637 | €242,613 | €272,437 | €278,822 | €220,969 | ▼ 20.7% |
| Other amounts payable47/48 | €3.9m | €4.4m | €3.5m | €750,000 | €75,000 | ▼ 90.0% |
| Accrued charges and deferred income492/3 | €31,807 | €7,636 | €14,617 | €3,410 | €22,117 | ▲ 549% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5.7m | €8.1m | €5.5m | €11.3m | €8.6m | ▼ 23.9% |
| + Depreciation and write-downs630 | €104,167 | €117,395 | €163,864 | €218,706 | €264,962 | ▲ 21.1% |
| Operating cash flow (approximation) | €5.8m | €8.2m | €5.6m | €11.5m | €8.8m | ▼ 23.0% |
| Investment in fixed assets (approximation) | - | -€1.1m | €270,578 | -€200,064 | -€4,234 | ▲ 97.9% |
| Change in cash | - | -€4.1m | -€228,405 | -€1.8m | €21.5m | ▲ 1,315% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 24 days late
2025
31-12
Financial
Equity above €50mEq €51.9m ▲19.6%
8 profitable years in a row build equity to €51.9m.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €11.3m ▲106%
Operating result €9.6m, net result €11.3m, both a record.
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €5.5m ▼32.2%
Net result drops to €5.5m, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Equity above €25mEq €26.7m ▲8.1%
4 profitable years in a row build equity to €26.7m.
24-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 17 days late
2019
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
14 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, Wevelgem · 1 establishment unit since 1987
Ground area
2.6 ha
Building footprint
1.1 ha
Volume, LiDAR
175,934 m³
Parcel 34012A0341/00D000, Flanders · tallest building 16.7 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SIDEM
since 19872.023.052.091
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34012A0341/00D000 | Flanders | 2.6 ha | 1 · 1.1 ha | 16.7 m · 5 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.
Structure & network
Owners and holdings
1 owner · 3 holdingsChain of control
- JUMICE
- SIDEM
Highest known parent: JUMICE. The sources do not say who stands above it.
Owners 1
- JUMICEparentSourceaccounts JUMICE 2025100%
Holdings 3
-
100%
-
100%
-
100%
According to the 2025 annual accounts of SIDEM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 15,965 EUR awarded · 16,487 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,468 EUR | 1,463 EUR |
| 2024 | 2 | 12,160 EUR | 11,632 EUR |
| 2023 | 1 | 1,236 EUR | 2,291 EUR |
| 2022 | 1 | 1,101 EUR | 1,101 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
5493000FSKKC4T9QZN39
Similar companies · same sector, comparable size
FACIL EUROPE
BE 0469.459.412
Genk · Eq €52,242,882
Jean Goldschmidt International
BE 0401.872.483
Brussel · Eq €50,197,195
CARPENTER TECHNOLOGY (EUROPE)
BE 0441.345.644
Mont-Saint-Guibert · Eq €55,318,751
Firma J. Christiaens
BE 0415.416.752
Eeklo · Eq €47,427,153
Federal-Mogul Global Aftermarket EMEA
BE 0452.101.063
Kontich · Eq €47,399,252
Of 1,743 companies in sector 46720 we hold annual accounts for 1,082. 141 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-09-1983
Fiscal year end31-12
Activities, NACEBEL 2025
46720Wholesale of motor vehicle parts and accessories
E-invoicing
Reachable via Peppol
Peppol ID
0208:0424622844
Also
9925:BE0424622844
Registered
25-07-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.