SIENNE
ActiveSummary
SIENNE has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€100,386) and a net result of -€31,092. Equity has been growing by about 3.7% per year since 2018. Its solvency ranks better than 8% of 1,114 sector peers (NACE 93, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-03-1989 Normal situation
- Activity
- Other amusement and recreation activities NACE 93299and 5 others
- Establishment unit
- 2.042.888.888 1050 Elsene, since 10-04-1989
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
- Gross margin
- -€22,362
- Loss
- €31,092
- Equity
- -€100,386
- ▼ 44.9%
- Total assets
- €72,999
- ▼ 39.3%
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€100,386Loss of €31,092 (financial year 2025)lowers riskSize: total assets €72,999Sector: Sports, amusement and recreation activities (NACE 93)Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 93, micro). It does better than 9% of them on solvency, 30% on liquidity, 7% on profitability and 14% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 2 days before the deadline. In the sector (NACE 93), the median for financial year 2024 was 1 day before the deadline, and 42% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 32 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €30,739, after a profit of €59,705 in 2024. It is the lowest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Sports, amusement and recreation activities (NACE 93). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,596 | €5,688 | €3,618 | €3,462 | €10,806 |
| Depreciation and write-downs of the year | €2,976 | €2,855 | €3,078 | €2,879 | €4,842 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,195 | €3,641 | €2,982 | €2,976 | €2,855 | €3,078 | €2,879 | €4,842 | ▲ 68.2% |
| Other operating charges640/8 | - | - | - | - | €381 | €1,683 | €3,100 | €3,535 | ▲ 14.0% |
| Non-recurring operating charges66A | - | - | - | - | €764 | - | - | - | - |
| Gross operating margin9900 | -€21,295 | -€29,490 | -€17,514 | -€11,751 | €36,136 | €9,775 | €65,684 | -€22,362 | - |
| Operating profit (loss)9901 | -€27,129 | -€33,748 | -€20,892 | -€14,727 | €32,136 | €5,014 | €59,705 | -€30,739 | - |
| Financial income75/76B | - | - | - | €6 | €24 | €25 | €106 | €54 | ▼ 48.9% |
| Recurring financial income75 | €9 | - | €3 | €6 | €24 | €25 | €106 | €54 | ▼ 48.9% |
| Financial charges65/66B | - | - | - | €459 | €647 | €289 | €415 | €407 | ▼ 1.9% |
| Recurring financial charges65 | €350 | €409 | €292 | €459 | €647 | €289 | €415 | €407 | ▼ 1.9% |
| Profit (loss) for the period before taxes9903 | -€27,471 | -€34,157 | -€21,182 | -€15,180 | €31,514 | €4,750 | €59,396 | -€31,092 | - |
| Income taxes67/77 | €2 | €265 | €230 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€27,473 | -€34,422 | -€21,412 | -€15,180 | €31,514 | €4,750 | €59,396 | -€31,092 | - |
| Profit (loss) for the period to be appropriated9905 | -€27,473 | -€34,422 | -€21,412 | -€15,180 | €31,514 | €4,750 | €59,396 | -€31,092 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €97,120 | €51,576 | €46,135 | €52,258 | €88,411 | €83,877 | €120,317 | €72,999 | ▼ 39.3% |
| Fixed assets21/28 | €27,036 | €27,970 | €27,491 | €26,111 | €28,943 | €29,483 | €30,066 | €36,030 | ▲ 19.8% |
| Intangible fixed assets21 | €944 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €18,261 | €20,139 | €19,660 | €18,280 | €21,112 | €21,653 | €22,236 | €28,199 | ▲ 26.8% |
| Plant, machinery and equipment23 | - | - | - | €4,180 | €8,371 | €8,338 | €10,054 | €11,195 | ▲ 11.3% |
| Furniture and vehicles24 | - | - | - | €14,100 | €12,741 | €13,315 | €12,181 | €17,004 | ▲ 39.6% |
| Financial fixed assets28 | €7,831 | €7,831 | €7,831 | €7,831 | €7,831 | €7,831 | €7,831 | €7,831 | = |
| Current assets29/58 | €70,085 | €23,606 | €18,643 | €26,148 | €59,468 | €54,394 | €90,251 | €36,969 | ▼ 59.0% |
| Amounts receivable within one year40/41 | €29,508 | €20,082 | €7,649 | €14,194 | €26,389 | - | €12,347 | €16,302 | ▲ 32.0% |
| Trade receivables40 | - | - | - | €14,194 | €26,389 | - | €12,347 | €16,302 | ▲ 32.0% |
| Cash at bank and in hand54/58 | €35,334 | €3,049 | €10,994 | €11,954 | €33,078 | €54,394 | €76,863 | €20,522 | ▼ 73.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €1,040 | €145 | ▼ 86.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €97,120 | €51,576 | €46,135 | €52,258 | €88,411 | €83,877 | €120,317 | €72,999 | ▼ 39.3% |
| Equity10/15 | -€93,939 | -€128,361 | -€149,773 | -€164,953 | -€133,440 | -€128,690 | -€69,294 | -€100,386 | ▼ 44.9% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€114,390 | -€148,813 | -€170,224 | -€185,404 | -€153,891 | -€149,141 | -€89,745 | -€120,837 | ▼ 34.6% |
| Amounts payable17/49 | €191,060 | €179,938 | €195,908 | €217,211 | €221,850 | €212,567 | €189,611 | €173,385 | ▼ 8.6% |
| Amounts payable within one year42/48 | €191,060 | €179,882 | €195,908 | €217,211 | €221,850 | €209,967 | €189,611 | €173,214 | ▼ 8.6% |
| Trade debts44 | €2,002 | €3,282 | €1,845 | €3,881 | €14,751 | €5,082 | €6,735 | €12,160 | ▲ 80.6% |
| Suppliers440/4 | - | - | - | €3,881 | €14,751 | €5,082 | €6,735 | €12,160 | ▲ 80.6% |
| Advances received on contracts in progress46 | - | - | - | €2,386 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €578 | €3,878 | €6,409 | €3,049 | €161,054 | ▲ 53× |
| Taxes450/3 | - | - | - | €578 | €3,878 | €6,409 | €3,049 | €2,018 | ▼ 33.8% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €159,036 | - |
| Other amounts payable47/48 | - | - | - | €210,366 | €203,221 | €198,476 | €179,827 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €2,600 | - | €171 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,473 | -€34,422 | -€21,412 | -€15,180 | €31,514 | €4,750 | €59,396 | -€31,092 | - |
| + Depreciation and write-downs630 | €5,195 | €3,641 | €2,982 | €2,976 | €2,855 | €3,078 | €2,879 | €4,842 | ▲ 68.2% |
| Operating cash flow (approximation) | -€22,278 | -€30,781 | -€18,430 | -€12,204 | €34,369 | €7,828 | €62,275 | -€26,250 | - |
| Investment in fixed assets (approximation) | - | -€4,575 | -€2,503 | -€1,596 | -€5,688 | -€3,618 | -€3,462 | -€10,806 | ▼ 212% |
| Change in cash | - | -€32,285 | €7,946 | €959 | €21,125 | €21,315 | €22,470 | -€56,341 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as SIENNE has now. Two years later, 4.5% had gone bankrupt and 84.5% were still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SIENNE itself is lower: 0.6% within 12 months. It rests on far more data about SIENNE than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,619 companies, not a prediction for SIENNE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 10-07-2026 | 2026-00280152 | |
| 31-12-2024 | full format | 09-07-2025 | 2025-00247728 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00437604 | |
| 31-12-2022 | full format | 28-06-2023 | 2023-00177443 | |
| 31-12-2021 | full format | 22-08-2022 | 2022-20300783 | |
| 31-12-2020 | full format | 06-08-2021 | 2021-46600172 | |
| 31-12-2019 | full format | 05-08-2020 | 2020-39200212 | |
| 31-12-2018 | full format | 27-09-2019 | 2019-66300118 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-57100159 | |
| 31-12-2016 | full format | 31-08-2017 | 2017-57100279 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 05-02-2024 Converted to unavailable equity · €20,451
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| KENIS Anne-Catherine |
|
| LIBERSKI Stefan |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “L'assemblée qui nomme le ou les administrateur(s) fixe leur nombre, la durée de leur mandat, un ou plusieurs administrateurs, personnes…”
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Offertes par préférence aux actionnaires existants, proportionnellement au nombre d’actions qu’ils détiennent, 15”
Articles of association, deed of 05-02-2024 (in French)
Network & group
SIENNE shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of SIENNE. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
05-02
Gazette deed
Legal-form change · Resignations & appointmentsLegal form clause · Capital conversion · Reserve release10 points ▸
- Other provision, “rapport sur modification de l'objet, article 5:101 du Code des sociétés et des associations” (deed in French)
- General meeting, “modifier l'objet de la société” (deed in French)
- Legal form clause, “société à responsabilité limitée (SRL)” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Reserve release, 0, “rendre disponible pour distribution” (deed in French)
- Amendment of the articles
- Capital
- Director in office, LIBERSKI Stefan Michel Camille (director)
- Director in office, KENIS Anne Catherine (director)
- Power of attorney, mentioned 2 times in the deed
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
4 activities
- Toute opération se rattachant directement ou indirectement à la création, la réalisation, la promotion, la restauration, la production, la diffusion, la distribution, l'achat, la vente, le courtage, la commission, l'exploitation et l'édition des œuvres d’art et de créations artistiques, littéraires, musicales et publicitaires, dans le sens le plus large, qu'elles soient anciennes ou contemporaines, ou exécutées sous la forme de performance
- Toute activité susceptible de favoriser la réalisation de son objet social
- Participer à une telle activité de quelque façon que ce soit
- Participer dans ou se fusionner avec d’autres sociétés ou entreprises qui peuvent contribuer à son développement ou le favoriser
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21447B0384/00G004 | Brussels | 518 m² | 1 · 325 m² | 17.2 m · 3 |
| 21447B0384/00D007indicative | Brussels | 395 m² | 1 · 203 m² | 19.0 m · 5 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.