SINA EXPRESS

Active

Private limited company (pre-2019)founded 20179 yrs activeRue Belvaux 93, 4030 Liège, BelgiumKBO/BCE: BE 0676.769.493

The computed 12-month bankruptcy probability of SINA EXPRESS is 1.8% (moderate). The 2024 annual accounts show equity of €18k and a net result of €-605. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 38% of 26043 sector peers (fiscal year 2024). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

43 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability44▲+17

Solvency43=

Growth52=

Track record100

Bankruptcy probability, 12 months

1.8% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days only on tighter terms

Liquidity tight (current ratio 1.2 against 1.15 in 2023; short-term debt: 81.5% and cash: 11.4% of total assets), and 81.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

18.5%

Return on assets

-0.6%

Age of the figures

21 mo

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year €-605

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-11-2025, 113 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 · 7 filings

Deviation from the deadline

2025

not confirmed

2024

113 d late

2023

92 d late

2022

151 d late

2021

90 d late

2020

269 d late

2019

430 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€18k▼ 3.2%

2023 · €19k

2018: €16k 2019: €20k 2020: €22k 2021: €19k 2022: €24k 2023: €19k

2018 → 2024

Total assets

€100k▼ 5.5%

2023 · €106k

2018: €60k 2019: €101k 2020: €89k 2021: €94k 2022: €91k 2023: €106k

2018 → 2024

Net result

€-605▲ 88.6%

2023 · €-5k

2018: €4k 2019: €4k 2020: €2k 2021: €-3k 2022: €5k 2023: €-5k

2018 → 2024

Working capital

€16k▲ 22.5%

2023 · €13k

2018: €-5k 2019: €13k 2020: €1k 2021: €2k 2022: €13k 2023: €13k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€22k-€19k▼ 13.4%€24k▲ 28.5%€19k▼ 21.8%€18k▼ 3.2%

Operating result€7k-€2k▼ 70.1%€21k▲ 885%€3k▼ 86.0%€5k▲ 73.3%

Net result€2k-€-3k€5k€-5k€-605▲ 88.6%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result recovers in 2024; 2024 is 73% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €100k

97.9%

Fixed assets €2k▼ 63.2%

Current assets €98k▼ 2.2%

Equity and liabilities €100k

18.5%

81.5%

Equity €18k▼ 3.2%

Debt €82k▼ 6.0%

The debt ratio falls from 82.0% to 81.5%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€9k▼

2023 · €9k

Cash flow

€3k▲

2023 · €934

Solvency

18.5%▲

2023 · 18.0%

Current ratio

1.20▲

2023 · 1.15

Quick ratio

0.51▲

2023 · 0.36

Debt / equity

4.41▼

2023 · 4.54

ROE

-3.3%▲

2023 · -27.9%

ROA

-0.6%▲

2023 · -5.0%

Interest coverage

3.13▲

2023 · 1.74

Debt

€82k▼

2023 · €87k

Debt ≤ 1 year

€82k▼

2023 · €87k

Income taxes

€3k▲

2023 · €3k

Staff costs

€81k▼

2023 · €91k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€106k€100k▼

Fixed assets21/28€6k€2k▼

Intangible fixed assets21€2k-

Tangible fixed assets22/27€3k€907▼

Plant, machinery and equipment23€741€540▼

Furniture and vehicles24€2k€367▼

Financial fixed assets28€1k€1k=

Current assets29/58€100k€98k▼

Stocks and contracts in progress3€69k€56k▼

Stocks30/36€69k€56k▼

Amounts receivable within one year40/41€20k€28k▲

Trade receivables40€20k€28k▲

Other amounts receivable41-€40

Cash at bank and in hand54/58€11k€11k▲

Deferred charges and accrued income490/1€1k€2k▲

Equity and liabilities

Total equity and liabilities10/49€106k€100k▼

Equity10/15€19k€18k▼

Contributions10/11€12k€12k=

Reserves13€563€563=

Non-distributable reserves130/1€563€563=

Reserves not available under the articles1311€563€563=

Profit (loss) carried forward14€6k€6k▼

Amounts payable17/49€87k€82k▼

Amounts payable within one year42/48€87k€82k▼

Trade debts44€26k€25k▼

Suppliers440/4€26k€25k▼

Taxes, remuneration and social security45€50k€40k▼

Taxes450/3€24k€26k▲

Remuneration and social security454/9€27k€14k▼

Other amounts payable47/48€11k€17k▲

Income statement Code20232024

Remuneration, social security and pensions62€91k€81k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€4k▼

Other operating charges640/8€7k€7k▲

Gross operating margin9900€107k€97k▼

Operating profit (loss)9901€3k€5k▲

Financial income75/76B€0€122▲

Recurring financial income75€0€122▲

Financial charges65/66B€5k€3k▼

Recurring financial charges65€5k€3k▼

Profit (loss) for the period before taxes9903€-2k€2k▲

Income taxes67/77€3k€3k▲

Profit (loss) for the period9904€-5k€-605▲

Profit (loss) for the period to be appropriated9905€-5k€-605▲

Appropriation of the result

Profit (loss) to be appropriated9906€6k€6k▼

Profit (loss) brought forward from the previous period14P€11k€6k▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 9Financial 2Filings 7

2025

21-11

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 113 days late

2024

31-10

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 92 days late

2023

31-12

Financial Weakest financial yearnet €-5k ▼198%

Net result drops to €-5k, the lowest in the series; recovery starts the following year.

29-12

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 151 days late

2022

31-12

Financial Back to profitnet €5k

Net result €5k after one loss-making year.

29-10

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 90 days late

26-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 269 days late

2021

04-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 430 days late

27-04

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 636 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Liège · 2 establishment units since 2017

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue Belvaux 934030 Liège

Ground area

395 m²

Building footprint

240 m²

Volume, LiDAR

2,972 m³

3 parcels, Wallonia · tallest building 16.5 m, ±5 floors. Linked by address, not a title deed.

2 establishment units

SINA EXPRESS

Rue Sainte-Marguerite 118, 4000 LiègeNon-specialised wholesale trade

since 20172.265.065.509

VIDEOLAND

Rue Sainte-Marguerite 77, 4000 LiègeRetail trade

since 20172.269.682.808

3 parcels

Wallonia 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62047C0857/00S005	Wallonia	191 m²	1 · 74 m²	12.7 m · 4 fl.
62802D0158/00B000	Wallonia	117 m²	1 · 78 m²	16.5 m · 5 fl.
62815C0247/00F000	Wallonia	87 m²	1 · 87 m²	12.8 m · 4 fl.