SINACO

Open bankruptcy

Private limited companyfounded 1986Waterloosesteenweg 1135, 1180 Ukkel, BelgiumKBO/BCE: BE 0429.095.138

A bankruptcy procedure is open for SINACO according to publications in the Belgian State Gazette. The file additionally contains 1 interim measure. The 2024 annual accounts show equity of €787k and a net result of €-423k.

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Signals

Three signals.

+raises risk○neutral

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

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, unclassified schema

Turnover

€105k▲ 602%

2023 · €15k

2018: €390k 2019: €412k 2020: €423k 2021: €427k 2022: €15k 2023: €15k

2018 → 2024

EBIT margin

7.0%▼ 204.2pp

2023 · 211.2%

2018: 78.0% 2019: 88.3% 2020: 30.7% 2021: -84.9% 2022: 6923.7% 2023: 211.2%

2018 → 2024

Net result

€-423k▼ 54.3%

2023 · €-274k

2018: €92k 2019: €133k 2020: €-57k 2021: €-502k 2022: €705k 2023: €-274k

2018 → 2024

Working capital

€-6.25M▼ 4.4%

2023 · €-5.98M

2019: €-5.61M 2020: €-9.50M 2021: €-9.91M 2022: €-2.42M 2023: €-5.98M

2019 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€423k-€427k▲ 0.9%€15k▼ 96.5%€15k▼ 0.1%€105k▲ 602%

Equity€1.28M-€779k▼ 39.2%€1.48M▲ 90.6%€1.21M▼ 18.5%€787k▼ 34.9%

Operating result€130k-€-362k€1.04M€32k▼ 97.0%€7k▼ 76.8%

Net result€-57k-€-502k▼ 776%€705k€-274k€-423k▼ 54.3%

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2024 is 77% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €9.74M

76.1%

23.9%

Fixed assets €7.41M=

Current assets €2.32M▲ 9.1%

Equity and liabilities €9.74M

91.9%

Equity €787k▼ 34.9%

Debt €8.95M▲ 7.4%

The debt ratio rises from 87.3% to 91.9%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€8k▼

2023 · €32k

Cash flow

€-422k▼

2023 · €-274k

Solvency

8.1%▼

2023 · 12.7%

Current ratio

0.27▲

2023 · 0.26

Quick ratio

0.27▲

2023 · 0.26

Debt / equity

11.36▲

2023 · 6.89

ROE

-53.7%▼

2023 · -22.6%

ROA

-4.3%▼

2023 · -2.9%

Interest coverage

0.01▼

2023 · 0.08

Debt

€8.95M▲

2023 · €8.33M

Debt ≤ 1 year

€8.57M▲

2023 · €8.11M

Income taxes

€0▼

2023 · €4k

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€9.54M€9.74M▲

Fixed assets21/28€7.41M€7.41M=

Tangible fixed assets22/27€110k€110k▼

Land and buildings22€110k€110k▼

Financial fixed assets28€7.30M€7.30M=

Affiliated companies280/1€7.30M€7.30M=

Participating interests280€7.30M€7.30M=

Current assets29/58€2.13M€2.32M▲

Stocks and contracts in progress3€0€0=

Amounts receivable within one year40/41€2.02M€2.18M▲

Trade receivables40€0€6k▲

Other amounts receivable41€2.02M€2.17M▲

Cash at bank and in hand54/58€0-

Deferred charges and accrued income490/1€108k€144k▲

Equity and liabilities

Total equity and liabilities10/49€9.54M€9.74M▲

Equity10/15€1.21M€787k▼

Contributions10/11€310k€310k=

Reserves13€102k€102k=

Non-distributable reserves130/1€31k€31k=

Reserves not available under the articles1311€31k€31k=

Distributable reserves133€71k€71k=

Profit (loss) carried forward14€798k€375k▼

Provisions and deferred taxes16€0-

Provisions for liabilities and charges160/5€0-

Other liabilities and charges164/5€0-

Amounts payable17/49€8.33M€8.95M▲

Amounts payable after more than one year17€0-

Financial debts170/4€0-

Credit institutions173€0-

Amounts payable within one year42/48€8.11M€8.57M▲

Financial debts43€3.53M€3.53M▲

Credit institutions430/8€3.53M€3.53M▲

Other loans439€0-

Trade debts44€31k€34k▲

Suppliers440/4€31k€34k▲

Taxes, remuneration and social security45€23k€81k▲

Taxes450/3€23k€81k▲

Other amounts payable47/48€4.53M€4.92M▲

Accrued charges and deferred income492/3€223k€380k▲

Income statement Code20232024

Operating income70/76A€101k€140k▲

Turnover70€15k€105k▲

Other operating income74€61€16k▲

Non-recurring operating income76A€86k€19k▼

Operating charges60/66A€69k€133k▲

Services and other goods61€42k€27k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€249€358▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-648k€76k▲

Provisions for liabilities and charges: additions (uses and reversals)635/8€-3k€0▲

Other operating charges640/8€677k€30k▼

Non-recurring operating charges66A€0-

Operating profit (loss)9901€32k€7k▼

Financial income75/76B€108k€144k▲

Recurring financial income75€108k€144k▲

Income from current assets751€108k€144k▲

Financial charges65/66B€410k€574k▲

Recurring financial charges65€410k€574k▲

Debt charges650€408k€574k▲

Other financial charges652/9€1k€892▼

Profit (loss) for the period before taxes9903€-270k€-423k▼

Transfer from deferred taxes780€0-

Income taxes67/77€4k€0▼

Taxes670/3€4k€0▼

Profit (loss) for the period9904€-274k€-423k▼

Transfer from tax-exempt reserves789€0-

Profit (loss) for the period to be appropriated9905€-274k€-423k▼

Appropriation of the result

Profit (loss) to be appropriated9906€798k€375k▼

Profit (loss) brought forward from the previous period14P€1.07M€798k▼

The notes to these accounts (32 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 15Signals 2Financial 3Filings 10

2026

08-07

Bankruptcy Opening

Tribunal de l’entreprise francophone de Bruxelles · SRL SINACO CHAUSSEE DE WATERLOO 1135, 1180 UCCLE · event 02-07-2026

27-03

Interim measure Provisional administrator

Tribunal de l’entreprise francophone de Bruxelles

2025

22-12

NBB filing Annual accounts filed

fiscal year 2024 · unclassified schema · 144 days late

29-01

NBB filing Annual accounts filed

fiscal year 2023 · unclassified schema · 182 days late

2023

31-07

NBB filing Annual accounts filed

fiscal year 2022 · unclassified schema

2022

31-12

Financial Back to profitnet €705k

Net result €705k after 2 loss-making years.

31-12

Financial Equity above €1MEq €1.48M ▲90.6%

Equity rises from €779k to €1.48M.

13-12

NBB filing Annual accounts filed

fiscal year 2021 · unclassified schema · 135 days late

2021

31-12

Financial Weakest financial yearnet €-502k

Net result drops to €-502k, the lowest in the series.

14-12

NBB filing Annual accounts filed

fiscal year 2020 · unclassified schema · 136 days late

2020

17-12

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 139 days late

2019

30-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 30 days late

2018

22-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 22 days late

2017

24-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 24 days late

2016

25-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

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

Directors · office · real estate

Directors

9 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, Ukkel · 1 establishment unit since 1986

establishment The establishment unit 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.

Waterloosesteenweg 11351180 Ukkel

Ground area

3,242 m²

Building footprint

818 m²

Volume, LiDAR

13,722 m³

Parcel 21612C0257/00V000, Brussels · tallest building 20.8 m, ±6 floors. Linked by address, not a title deed.

1 establishment unit

Waterloosesteenweg 1135, 1180 Ukkel

NACE 7412401

since 19862.036.468.082

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21612C0257/00V000	Brussels	3,242 m²	1 · 817 m²	20.8 m · 6 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Insolvency mandates

2 mandates

Role	Name	Tenure
Curator	YSABELLE ENSCH AVENUE LOUISE 349 B 17, 1050 IXELLES	02-07-2026 → present
Curator	CHARLES-HENRI SPRINGUEL AVENUE LOUISE 349, 1050 IXELLES	02-07-2026 → present