SINCLAIR BAY
ActiveSummary
SINCLAIR BAY has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €569,562 and a net result of €25,908. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 653 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability24▼-47
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 19.57 against 18.13 in 2023; short-term debt: 3.4% and cash: 17.9% of total assets), and 3.4% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
96.6%
Return on assets
4.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-07-2025, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
8 d early
2023
69 d early
2022
6 d early
2021
34 d early
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€25,908▲ 141%
2023 · €10,756
Working capital
€373,822▲ 11.5%
2023 · €335,152
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€14,151€11,085▼ 21.7%€26,003▲ 135%€10,786▼ 58.5%-€15,836
Net result€713,826above the sector's middle half€17,198within the sector's middle half▼ 97.6%€25,888within the sector's middle half▲ 50.5%€10,756within the sector's middle half▼ 58.5%€25,908within the sector's middle half▲ 141%
Equity€489,812within the sector's middle half▲ 2.9%€507,010within the sector's middle half▲ 3.5%€532,898within the sector's middle half▲ 5.1%€543,654within the sector's middle half▲ 2.0%€569,562within the sector's middle half▲ 4.8%
Total assets€512,660below the sector's middle half▲ 2.0%€531,347below the sector's middle half▲ 3.6%€553,255below the sector's middle half▲ 4.1%€563,224below the sector's middle half▲ 1.8%€589,697below the sector's middle half▲ 4.7%
Debt€22,848▼ 14.5%€24,337▲ 6.5%€20,357▼ 16.4%€19,570▼ 3.9%€20,135▲ 2.9%
Working capital€301,753within the sector's middle half▲ 5.6%€315,569within the sector's middle half▲ 4.6%€347,313within the sector's middle half▲ 10.1%€335,152within the sector's middle half▼ 3.5%€373,822within the sector's middle half▲ 11.5%
Solvency95.5%above the sector's middle half▲ 0.9pp95.4%above the sector's middle half▼ 0.1pp96.3%above the sector's middle half▲ 0.9pp96.5%above the sector's middle half▲ 0.2pp96.6%above the sector's middle half▲ 0.1pp
Current ratio14.21above the sector's middle half▲ 2.5213.97above the sector's middle half▼ 0.2418.06above the sector's middle half▲ 4.0918.13above the sector's middle half▲ 0.0719.57above the sector's middle half▲ 1.44
Return on assets (ROA)139.2%above the sector's middle half▲ 147.5pp3.2%within the sector's middle half▼ 136.0pp4.7%within the sector's middle half▲ 1.4pp1.9%within the sector's middle half▼ 2.8pp4.4%within the sector's middle half▲ 2.5pp
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €15,836 after €10,786 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €589,697
Fixed assets
€195,740 ▼ 6.1%
Current assets
€393,957 ▲ 11.1%
Equity and liabilities €589,697
Equity
€569,562 ▲ 4.8%
Debt
€20,135 ▲ 2.9%
Debt's share of the balance-sheet total falls from 3.5% to 3.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€9,517▼
2023 · €13,245
Cash flow
€32,228▲
2023 · €13,215
Debt to equity
0.04▼
2023 · 0.04
ROE
4.5%▲
2023 · 2.0%
Interest coverage
-20.11▼
2023 · 28.88
Debt ≤ 1 year
€20,135▲
2023 · €19,570
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
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 497,662 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% | 1.7% |
| 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 75% 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 14,733 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,919 | €1,594 | €5,856 | €2,460 | €6,319 | ▲ 157% |
| Other operating charges640/8 | - | €583 | €1,746 | €853 | €742 | ▼ 13.0% |
| Gross operating margin9900 | €17,830 | €13,262 | €33,605 | €14,098 | -€8,774 | ▼ 162% |
| Operating profit (loss)9901 | €14,151 | €11,085 | €26,003 | €10,786 | -€15,836 | ▼ 247% |
| Financial income75/76B | - | €6,420 | €314 | €429 | €42,218 | ▲ 9,747% |
| Recurring financial income75 | €700,001 | €6,420 | €314 | €429 | €42,218 | ▲ 9,747% |
| Financial charges65/66B | - | €307 | €428 | €459 | €473 | ▲ 3.2% |
| Recurring financial charges65 | €325 | €307 | €428 | €459 | €473 | ▲ 3.2% |
| Profit (loss) for the period before taxes9903 | €713,826 | €17,198 | €25,888 | €10,756 | €25,908 | ▲ 141% |
| Profit (loss) for the period9904 | €713,826 | €17,198 | €25,888 | €10,756 | €25,908 | ▲ 141% |
| Profit (loss) for the period to be appropriated9905 | €713,826 | €17,198 | €25,888 | €10,756 | €25,908 | ▲ 141% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €512,660 | €531,347 | €553,255 | €563,224 | €589,697 | ▲ 4.7% |
| Fixed assets21/28 | €188,058 | €191,441 | €185,585 | €208,502 | €195,740 | ▼ 6.1% |
| Intangible fixed assets21 | €616 | €360 | €103 | - | - | - |
| Tangible fixed assets22/27 | €181,000 | €184,639 | €179,040 | €202,060 | €195,740 | ▼ 3.1% |
| Land and buildings22 | - | €179,000 | €175,645 | €175,645 | €175,645 | = |
| Plant, machinery and equipment23 | - | €1,000 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €24,264 | €19,189 | ▼ 20.9% |
| Other tangible fixed assets26 | - | €4,639 | €3,395 | €2,151 | €907 | ▼ 57.8% |
| Financial fixed assets28 | €6,442 | €6,442 | €6,442 | €6,442 | - | - |
| Current assets29/58 | €324,601 | €339,906 | €367,670 | €354,722 | €393,957 | ▲ 11.1% |
| Amounts receivable after more than one year29 | - | - | - | - | €60,000 | - |
| Other amounts receivable291 | - | - | - | - | €60,000 | - |
| Amounts receivable within one year40/41 | €33,742 | €11,527 | €16,300 | €20,273 | €11,916 | ▼ 41.2% |
| Trade receivables40 | - | €7,142 | €1,919 | €8,690 | €4,309 | ▼ 50.4% |
| Other amounts receivable41 | - | €4,385 | €14,381 | €11,583 | €7,607 | ▼ 34.3% |
| Current investments50/53 | - | - | - | - | €201,015 | - |
| Cash at bank and in hand54/58 | €283,805 | €316,817 | €341,114 | €307,525 | €105,403 | ▼ 65.7% |
| Deferred charges and accrued income490/1 | - | €11,563 | €10,256 | €26,924 | €15,622 | ▼ 42.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €512,660 | €531,347 | €553,255 | €563,224 | €589,697 | ▲ 4.7% |
| Equity10/15 | €489,812 | €507,010 | €532,898 | €543,654 | €569,562 | ▲ 4.8% |
| Contributions10/11 | €62,040 | €62,040 | €62,040 | €62,040 | €62,040 | = |
| Capital10 | - | €62,040 | €62,040 | €62,040 | €62,040 | = |
| Issued capital100 | - | €62,040 | €62,040 | €62,040 | €62,040 | = |
| Reserves13 | €54,000 | €54,000 | €54,000 | €54,000 | €54,000 | = |
| Non-distributable reserves130/1 | - | €6,204 | €6,204 | €6,204 | €6,204 | = |
| Legal reserve130 | - | €6,204 | €6,204 | €6,204 | €6,204 | = |
| Distributable reserves133 | - | €47,796 | €47,796 | €47,796 | €47,796 | = |
| Profit (loss) carried forward14 | €373,772 | €390,970 | €416,858 | €427,614 | €453,522 | ▲ 6.1% |
| Amounts payable17/49 | €22,848 | €24,337 | €20,357 | €19,570 | €20,135 | ▲ 2.9% |
| Amounts payable within one year42/48 | €22,848 | €24,337 | €20,357 | €19,570 | €20,135 | ▲ 2.9% |
| Trade debts44 | €22,848 | €24,337 | €20,357 | €10,188 | €886 | ▼ 91.3% |
| Suppliers440/4 | - | €24,337 | €20,357 | €10,188 | €886 | ▼ 91.3% |
| Taxes, remuneration and social security45 | - | - | - | - | €60 | - |
| Taxes450/3 | - | - | - | - | €60 | - |
| Other amounts payable47/48 | - | - | - | €9,382 | €19,189 | ▲ 105% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €713,826 | €17,198 | €25,888 | €10,756 | €25,908 | ▲ 141% |
| + Depreciation and write-downs630 | €2,919 | €1,594 | €5,856 | €2,460 | €6,319 | ▲ 157% |
| Operating cash flow (approximation) | €716,745 | €18,793 | €31,744 | €13,215 | €32,228 | ▲ 144% |
| Investment in fixed assets (approximation) | - | -€4,977 | €0 | -€25,376 | €6,442 | ▲ 125% |
| Change in cash | - | €33,012 | €24,298 | -€33,589 | -€202,122 | ▼ 502% |
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
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €500,000Eq €507,010 ▲3.5%
2 profitable years in a row build equity to €507,010.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Back to profitnet €713,826
Net result €713,826 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
31-12
Financial
Weakest financial yearnet -€41,760
Net result drops to -€41,760, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
27-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Watermaal-Bosvoorde · 2 establishment units since 2004
Ground area
1.1 ha
Building footprint
1,695 m²
Volume, LiDAR
23,163 m³
2 parcels, Brussels, Wallonia · tallest building 36.3 m, ±1 floor. Linked by address, not a title deed.
288
companies at this address
See who is registered here
2 establishment units
SINCLAIR BAY
since 20042.144.065.828
SINCLAIR BAY
since 20062.197.287.847
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92042C0163/00R000 | Wallonia | 6,175 m² | 1 · 185 m² | - |
| 21652E0039/00H003 | Brussels | 5,127 m² | 1 · 1,510 m² | 36.3 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 · 1 holdingOwners 1
- Sourceaccounts TANAGRA 202450%
Holdings 1
-
100%
According to the 2023 annual accounts of SINCLAIR BAY 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGesves2.197.287.847
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Of 5,169 companies in sector 01110 we hold annual accounts for 614. 465 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
Founded23-11-2004
Fiscal year end31-12
Activities, NACEBEL 2025
01110Growing of cereals (except rice), leguminous crops and oil seeds
01199Crop and animal production, hunting and related service activities
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0870141468
Registered
27-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.