SINCO CAPITAL
ActiveSummary
SINCO CAPITAL has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€50.8m) and a net result of €4.5m, of which €6.2m non-recurring income. Equity is growing by about 3.2% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.3% (very low).
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€4.5m
2024 · -€65.9m
Working capital
-€146.1m▼ 160%
2024 · -€56.1m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €4.0m in 2025 against €66.1m in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€4.0m
2025
Net result€4.5m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€117.3m
2025
Equity-€50.8m
2025
Debt€168.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€146.1m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.01m--€0.02m▼ 52.1%-€0.05m▼ 204%-€0.03m▲ 46.0%-€3.3m▼ 11,320%-€0.07m▲ 97.8%-€66.1m▼ 90,894%-€4.0m▲ 94.0%
Net result€0.7m-€0.4m▼ 43.4%€0.3m▼ 23.5%€0.2m▼ 15.3%€4.9m▲ 21×€0.1m▼ 97.2%-€65.9m€4.5m
Equity€4.5m-€4.9m▲ 8.2%€5.2m▲ 5.8%€5.4m▲ 4.6%€10.4m▲ 91.1%€10.5m▲ 1.3%-€55.4m-€50.8m▲ 8.2%
Total assets€96.8m-€100.1m▲ 3.4%€110.5m▲ 10.4%€110.4m▼ 0.1%€113.3m▲ 2.6%€89.4m▼ 21.1%€22.5m▼ 74.8%€117.3m▲ 421%
Debt€92.2m-€95.2m▲ 3.2%€105.3m▲ 10.7%€105.0m▼ 0.3%€102.9m▼ 2.0%€78.9m▼ 23.3%€77.9m▼ 1.3%€168.1m▲ 116%
Working capital-€56.6m--€56.2m▲ 0.6%-€67.9m▼ 20.9%-€67.7m▲ 0.4%-€56.4m▲ 16.6%-€56.3m▲ 0.2%-€56.1m▲ 0.4%-€146.1m▼ 160%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €117.3m
Fixed assets
€115.2m ▲ 455%
Current assets
€2.0m ▲ 16.8%
Equity and liabilities
Equity-€50.8m
Debt€168.1m
Equity is negative: debt (€168.1m) exceeds the balance-sheet total (€117.3m).
Key figures and ratios
Solvency
-43.4%▲
2024 · -245.9%
Current ratio
0.01▼
2024 · 0.03
ROA
3.8%▲
2024 · -292.7%
Debt ≤ 1 year
€148.1m▲
2024 · €57.9m
Debt > 1 year
€20.0m=
2024 · €20.0m
Income taxes
-€0▼
2024 · €0
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0.001m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 4.6% |
| Non-recurring operating charges66A | - | - | - | - | €3.3m | - | €66.1m | €3.9m | ▼ 94.1% |
| Gross operating margin9900 | -€0.01m | -€0.02m | -€0.05m | -€0.03m | -€0.03m | -€0.04m | -€0.04m | -€0.04m | ▲ 6.0% |
| Operating profit (loss)9901 | -€0.01m | -€0.02m | -€0.05m | -€0.03m | -€3.3m | -€0.07m | -€66.1m | -€4.0m | ▲ 94.0% |
| Financial income75/76B | - | - | - | €0.4m | €8.3m | €0.3m | €0.3m | €8.5m | ▲ 30× |
| Recurring financial income75 | €0.8m | €0.5m | €0.4m | €0.4m | €8.3m | €0.3m | €0.3m | €2.3m | ▲ 720% |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €6.2m | - |
| Financial charges65/66B | - | - | - | €0.09m | €0.06m | €0.07m | €0.007m | €0.02m | ▲ 151% |
| Recurring financial charges65 | €0.06m | €0.06m | €0.06m | €0.09m | €0.06m | €0.07m | €0.007m | €0.02m | ▲ 151% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.4m | €0.3m | €0.2m | €5.0m | €0.1m | -€65.9m | €4.5m | - |
| Income taxes67/77 | €0.03m | €0.01m | €0.04m | €0.007m | €0.02m | - | €0 | -€0 | - |
| Profit (loss) for the period9904 | €0.7m | €0.4m | €0.3m | €0.2m | €4.9m | €0.1m | -€65.9m | €4.5m | - |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €0.4m | €0.3m | €0.2m | €4.9m | €0.1m | -€65.9m | €4.5m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €96.8m | €100.1m | €110.5m | €110.4m | €113.3m | €89.4m | €22.5m | €117.3m | ▲ 421% |
| Fixed assets21/28 | €81.1m | €81.1m | €93.1m | €93.1m | €86.8m | €86.8m | €20.8m | €115.2m | ▲ 455% |
| Financial fixed assets28 | €81.1m | €81.1m | €93.1m | €93.1m | €86.8m | €86.8m | €20.8m | €115.2m | ▲ 455% |
| Current assets29/58 | €15.7m | €19.0m | €17.4m | €17.3m | €26.4m | €2.6m | €1.7m | €2.0m | ▲ 16.8% |
| Amounts receivable within one year40/41 | €7.6m | €12.2m | €15.5m | €16.8m | €26.1m | €0.1m | €0.4m | €1.6m | ▲ 287% |
| Other amounts receivable41 | - | - | - | €16.8m | €26.1m | €0.1m | €0.4m | €1.6m | ▲ 287% |
| Current investments50/53 | - | - | - | - | - | €0.4m | - | - | - |
| Cash at bank and in hand54/58 | €8.0m | €6.7m | €1.9m | €0.5m | €0.4m | €2.1m | €1.3m | €0.4m | ▼ 68.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €249 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €96.8m | €100.1m | €110.5m | €110.4m | €113.3m | €89.4m | €22.5m | €117.3m | ▲ 421% |
| Equity10/15 | €4.5m | €4.9m | €5.2m | €5.4m | €10.4m | €10.5m | -€55.4m | -€50.8m | ▲ 8.2% |
| Contributions10/11 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Capital10 | - | - | - | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Issued capital100 | - | - | - | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Legal reserve130 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | €1.4m | €1.8m | €2.0m | €2.3m | €7.1m | €7.2m | -€58.7m | -€54.1m | ▲ 7.7% |
| Amounts payable17/49 | €92.2m | €95.2m | €105.3m | €105.0m | €102.9m | €78.9m | €77.9m | €168.1m | ▲ 116% |
| Amounts payable after more than one year17 | €20.0m | €20.0m | €20.0m | €20.0m | €20.0m | €20.0m | €20.0m | €20.0m | = |
| Financial debts170/4 | - | - | - | €20.0m | €20.0m | €20.0m | €20.0m | €20.0m | = |
| Amounts payable within one year42/48 | €72.2m | €75.1m | €85.3m | €85.0m | €82.9m | €58.9m | €57.9m | €148.1m | ▲ 156% |
| Financial debts43 | - | - | - | €7.0m | €4.0m | - | - | €1.0m | - |
| Credit institutions430/8 | - | - | - | €7.0m | €4.0m | - | - | €1.0m | - |
| Other amounts payable47/48 | - | - | - | €78.0m | €78.9m | €58.9m | €57.9m | €147.1m | ▲ 154% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | - | - | €0.006m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.7m | €0.4m | €0.3m | €0.2m | €4.9m | €0.1m | -€65.9m | €4.5m | - |
| Operating cash flow (approximation) | €0.7m | €0.4m | €0.3m | €0.2m | €4.9m | €0.1m | -€65.9m | €4.5m | - |
| Investment in fixed assets (approximation) | - | €0 | -€12.0m | €0 | €6.3m | €0 | €66.1m | -€94.5m | - |
| Change in cash | - | -€1.3m | -€4.8m | -€1.3m | -€0.2m | €1.7m | -€0.7m | -€0.9m | ▼ 23.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 29-07-2026 | 2026-00345870 |
| 31-12-2024 | full format | 03-06-2025 | 2025-00116050 |
| 31-12-2023 | full format | 25-06-2024 | 2024-00158127 |
| 31-12-2022 | full format | 24-05-2023 | 2023-00093087 |
| 31-12-2021 | full format | 03-05-2022 | 2022-20017769 |
| 31-12-2020 | full format | 16-07-2021 | 2021-35900393 |
| 31-12-2019 | full format | 06-05-2020 | 2020-11400397 |
| 31-12-2018 | full format | 28-06-2019 | 2019-23900578 |
| 31-12-2017 | full format | 04-05-2018 | 2018-11600317 |
| 31-12-2016 | full format | 04-07-2017 | 2017-25700160 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.