SINE CONCEPT
ActiveSummary
SINE CONCEPT has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,581 and a net result of €1,331. Equity is growing by ~24.8% per year across the filed fiscal years. Its solvency ranks better than 34% of 972 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+1
Solvency58▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 1.13 in 2024; short-term debt: 66% and cash: 55.4% of total assets), and 66.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 18
Relative position
BE, all sectors
reference
Printing and reproduction of recorded media (NACE 18)
about 11% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
33.1%
Return on assets
2.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
16 d early
2023
35 d early
2022
3 d early
2021
11 d early
2020
31 d early
2019
21 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 16 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€18,581▲ 7.7%
2024 · €17,250
Total assets
€56,160▲ 4.4%
2024 · €53,775
Net result
€1,331▲ 14.2%
2024 · €1,166
Working capital
€12,402▲ 155%
2024 · €4,857
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€2,793▲ 21.4%€13,596€5,512▼ 59.5%€2,207▼ 60.0%€1,655▼ 25.0%
Net result-€2,899within the sector's middle half▲ 18.9%€13,339within the sector's middle half€5,667within the sector's middle half▼ 57.5%€1,166within the sector's middle half▼ 79.4%€1,331within the sector's middle half▲ 14.2%
Equity-€2,921below the sector's middle half▼ 13,060%€10,418below the sector's middle half€16,084within the sector's middle half▲ 54.4%€17,250within the sector's middle half▲ 7.2%€18,581within the sector's middle half▲ 7.7%
Total assets€9,152below the sector's middle half▲ 9.0%€39,697below the sector's middle half▲ 334%€63,929within the sector's middle half▲ 61.0%€53,775below the sector's middle half▼ 15.9%€56,160below the sector's middle half▲ 4.4%
Debt€12,074▲ 43.5%€29,279▲ 143%€47,844▲ 63.4%€36,525▼ 23.7%€37,579▲ 2.9%
Working capital-€3,064within the sector's middle half▼ 511%€8,716within the sector's middle half€11,052within the sector's middle half▲ 26.8%€4,857within the sector's middle half▼ 56.0%€12,402within the sector's middle half▲ 155%
Solvency-31.9%below the sector's middle half▼ 31.7pp26.2%within the sector's middle half▲ 58.2pp25.2%within the sector's middle half▼ 1.1pp32.1%within the sector's middle half▲ 6.9pp33.1%within the sector's middle half▲ 1.0pp
Current ratio0.71below the sector's middle half▼ 0.231.30within the sector's middle half▲ 0.581.24within the sector's middle half▼ 0.061.13within the sector's middle half▼ 0.111.33within the sector's middle half▲ 0.20
Return on assets (ROA)-31.7%below the sector's middle half▲ 10.9pp33.6%above the sector's middle half▲ 65.3pp8.9%within the sector's middle half▼ 24.7pp2.2%within the sector's middle half▼ 6.7pp2.4%within the sector's middle half▲ 0.2pp
above
within
below
the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 25% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €56,160
Fixed assets
€6,699 ▼ 45.9%
Current assets
€49,461 ▲ 19.5%
Equity and liabilities €56,160
Equity
€18,581 ▲ 7.7%
Debt
€37,579 ▲ 2.9%
Debt's share of the balance-sheet total falls from 67.9% to 66.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9,353▲
2024 · €6,960
Cash flow
€9,029▲
2024 · €5,919
Debt to equity
2.02▼
2024 · 2.12
ROE
7.2%▲
2024 · 6.8%
Interest coverage
50.98▲
2024 · 6.68
Debt ≤ 1 year
€37,059▲
2024 · €36,525
Income taxes
€141
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
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 0.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 17,040 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €661 | €918 | €1,821 | €4,753 | €7,698 | ▲ 62.0% |
| Other operating charges640/8 | €449 | €450 | €493 | €1,383 | €1,086 | ▼ 21.5% |
| Gross operating margin9900 | -€1,683 | €14,964 | €7,827 | €8,343 | €10,439 | ▲ 25.1% |
| Operating profit (loss)9901 | -€2,793 | €13,596 | €5,512 | €2,207 | €1,655 | ▼ 25.0% |
| Financial income75/76B | €51 | - | €319 | €0 | - | - |
| Recurring financial income75 | €51 | - | €319 | €0 | - | - |
| Financial charges65/66B | €157 | €257 | €165 | €1,041 | €183 | ▼ 82.4% |
| Recurring financial charges65 | €157 | €257 | €165 | €1,041 | €183 | ▼ 82.4% |
| Profit (loss) for the period before taxes9903 | -€2,899 | €13,339 | €5,667 | €1,166 | €1,472 | ▲ 26.2% |
| Income taxes67/77 | - | - | - | - | €141 | - |
| Profit (loss) for the period9904 | -€2,899 | €13,339 | €5,667 | €1,166 | €1,331 | ▲ 14.2% |
| Profit (loss) for the period to be appropriated9905 | -€2,899 | €13,339 | €5,667 | €1,166 | €1,331 | ▲ 14.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9,152 | €39,697 | €63,929 | €53,775 | €56,160 | ▲ 4.4% |
| Fixed assets21/28 | €1,521 | €1,702 | €6,848 | €12,393 | €6,699 | ▼ 45.9% |
| Tangible fixed assets22/27 | €1,521 | €1,702 | €6,848 | €12,393 | €6,699 | ▼ 45.9% |
| Plant, machinery and equipment23 | €1,521 | €1,702 | €5,646 | €5,123 | €3,884 | ▼ 24.2% |
| Furniture and vehicles24 | - | - | €1,202 | €7,270 | €2,815 | ▼ 61.3% |
| Current assets29/58 | €7,631 | €37,995 | €57,081 | €41,382 | €49,461 | ▲ 19.5% |
| Amounts receivable within one year40/41 | €425 | €9,000 | €20,755 | €5,897 | €17,676 | ▲ 200% |
| Trade receivables40 | €425 | €8,696 | €20,451 | €5,897 | €17,676 | ▲ 200% |
| Other amounts receivable41 | - | €304 | €304 | - | - | - |
| Cash at bank and in hand54/58 | €5,560 | €28,653 | €34,130 | €28,274 | €31,107 | ▲ 10.0% |
| Deferred charges and accrued income490/1 | €1,647 | €342 | €2,196 | €7,212 | €678 | ▼ 90.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9,152 | €39,697 | €63,929 | €53,775 | €56,160 | ▲ 4.4% |
| Equity10/15 | -€2,921 | €10,418 | €16,084 | €17,250 | €18,581 | ▲ 7.7% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Capital10 | €12,400 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €6,200 | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | - | €1,860 | €1,860 | - | - |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | €1,860 | - | - | €1,860 | - |
| Profit (loss) carried forward14 | -€17,181 | -€3,842 | €1,824 | €2,990 | €4,321 | ▲ 44.5% |
| Amounts payable17/49 | €12,074 | €29,279 | €47,844 | €36,525 | €37,579 | ▲ 2.9% |
| Amounts payable within one year42/48 | €10,696 | €29,279 | €46,029 | €36,525 | €37,059 | ▲ 1.5% |
| Trade debts44 | - | €216 | €132 | €250 | €5,593 | ▲ 2,135% |
| Suppliers440/4 | - | €216 | €132 | €250 | €5,593 | ▲ 2,135% |
| Taxes, remuneration and social security45 | €2,019 | €6,135 | €7,961 | €3,324 | €4,944 | ▲ 48.7% |
| Taxes450/3 | €769 | €3,655 | €5,423 | €3,324 | €4,944 | ▲ 48.7% |
| Remuneration and social security454/9 | €1,250 | €2,480 | €2,538 | - | - | - |
| Other amounts payable47/48 | €8,676 | €22,928 | €37,936 | €32,950 | €26,522 | ▼ 19.5% |
| Accrued charges and deferred income492/3 | €1,378 | - | €1,815 | - | €520 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,899 | €13,339 | €5,667 | €1,166 | €1,331 | ▲ 14.2% |
| + Depreciation and write-downs630 | €661 | €918 | €1,821 | €4,753 | €7,698 | ▲ 62.0% |
| Operating cash flow (approximation) | -€2,238 | €14,257 | €7,487 | €5,919 | €9,029 | ▲ 52.5% |
| Investment in fixed assets (approximation) | - | -€1,098 | -€6,967 | -€10,298 | -€2,004 | ▲ 80.5% |
| Change in cash | - | €23,094 | €5,477 | -€5,856 | €2,833 | ▲ 148% |
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
Next filing, fiscal year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €13,339
Net result €13,339 after 2 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €1,765
Net result €1,765 after one loss-making year.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Antwerpen · 1 establishment unit since 2006
Ground area
144 m²
Building footprint
88 m²
Volume, LiDAR
799 m³
Parcel 11051B0383/00K000, Flanders · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SINE CONCEPT
since 20062.151.389.031
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11051B0383/00K000 | Flanders | 144 m² | 1 · 88 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 318 companies in sector 18200 we hold annual accounts for 114. 81 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-12-2005
Fiscal year end31-12
Activities, NACEBEL 2025
18200Printing and reproduction of recorded media
46170Agents in the wholesale of food, beverages and tobacco
71112Activities of interior architects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0878259477
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.