SINENCO
ActiveSummary
The annual accounts of SINENCO for fiscal year 2024 show a net loss of 57% of the equity at the start of that year. The 2024 annual accounts show equity of €8k and a net result of €-10k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 26% of 19357 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
46
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability12▲+12
Solvency30▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.6 against 1.79 in 2023; short-term debt: 54.5% and cash: 26.3% of total assets), but 94.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
raises risk · 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 2024Solvency, return and age of the figures
Solvency
5.5%
Return on assets
-7.3%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
2021222324
2020 to 2024 · latest year €-10k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
29 d late
2022
31 d late
2021
23 d late
2020
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€8k▼ 57.2%
2023 · €18k
2020: €21k
2021: €48k
2022: €46k
2023: €18k
2020 → 2024
Total assets
€144k▼ 16.3%
2023 · €172k
2020: €135k
2021: €302k
2022: €275k
2023: €172k
2020 → 2024
Net result
€-10k▲ 62.0%
2023 · €-28k
2020: €16k
2021: €27k
2022: €-2k
2023: €-28k
2020 → 2024
Working capital
€47k▼ 26.4%
2023 · €63k
2020: €60k
2021: €140k
2022: €96k
2023: €63k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€21k-€48k▲ 125%€46k▼ 4.2%€18k▼ 60.1%€8k▼ 57.2%
Operating result€22k-€37k▲ 64.7%€-910€-26k▼ 2,789%€-8k▲ 67.7%
Net result€16k-€27k▲ 63.4%€-2k€-28k▼ 1,287%€-10k▲ 62.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2024 against €26k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €144k
Fixed assets
€19k ▼ 32.6%
Current assets
€125k ▼ 13.2%
Equity and liabilities €144k
Equity
€8k ▼ 57.2%
Debt
€136k ▼ 11.5%
Debt's share of the balance-sheet total rises from 89.3% to 94.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€616▲
2023 · €-17k
Cash flow
€-1k▲
2023 · €-18k
Current ratio
1.60▼
2023 · 1.79
Quick ratio
1.41▲
2023 · 0.66
Debt to equity
17.33▲
2023 · 8.37
ROE
-133.8%▲
2023 · -150.6%
ROA
-7.3%▲
2023 · -16.1%
Interest coverage
0.34▲
2023 · -13.93
Debt ≤ 1 year
€78k▼
2023 · €80k
Debt > 1 year
€57k▼
2023 · €73k
Income taxes
€153▲
2023 · €140
Staff costs
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 47 lines
Balance sheet
Code20232024
Assets
Total assets20/58€172k€144k▼
Fixed assets21/28€28k€19k▼
Tangible fixed assets22/27€28k€19k▼
Plant, machinery and equipment23€25k€17k▼
Furniture and vehicles24€3k€2k▼
Current assets29/58€144k€125k▼
Stocks and contracts in progress3€91k€14k▼
Stocks30/36€6k€14k▲
Contracts in progress37€85k€0▼
Amounts receivable within one year40/41€41k€73k▲
Trade receivables40€39k€69k▲
Other amounts receivable41€2k€4k▲
Cash at bank and in hand54/58€11k€38k▲
Deferred charges and accrued income490/1€1k€0▼
Equity and liabilities
Total equity and liabilities10/49€172k€144k▼
Equity10/15€18k€8k▼
Contributions10/11€5k€5k=
Reserves13€42k€42k=
Distributable reserves133€42k€42k=
Profit (loss) carried forward14€-29k€-39k▼
Amounts payable17/49€153k€136k▼
Amounts payable after more than one year17€73k€57k▼
Financial debts170/4€73k€57k▼
Amounts payable within one year42/48€80k€78k▼
Current portion of amounts payable after more than one year42€15k€22k▲
Trade debts44€13k€26k▲
Suppliers440/4€13k€26k▲
Advances received on contracts in progress46€1k€1k=
Taxes, remuneration and social security45€2k€86▼
Taxes450/3€2k€86▼
Other amounts payable47/48€49k€29k▼
Accrued charges and deferred income492/3-€277
Income statement
Code20232024
Remuneration, social security and pensions62-€0
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k▼
Other operating charges640/8€3k€886▼
Gross operating margin9900€-14k€2k▲
Operating profit (loss)9901€-26k€-8k▲
Financial income75/76B€64€0▼
Recurring financial income75€64€0▼
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€-27k€-10k▲
Income taxes67/77€140€153▲
Profit (loss) for the period9904€-28k€-10k▲
Profit (loss) for the period to be appropriated9905€-28k€-10k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-29k€-39k▼
Profit (loss) brought forward from the previous period14P€-1k€-29k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Highest result since 2020net €27k ▲63.4%
Operating result €37k, net result €27k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Wevelgem · 1 establishment unit since 2019
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.
Visserijstraat 568560 WevelgemGround area
1,172 m²
Building footprint
277 m²
Parcel 34041C0187/00G003, Flanders. Linked by address, not a title deed.
1 establishment unit
SINENCO
since 20192.295.733.939
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34041C0187/00G003 | Flanders | 1,172 m² | 1 · 277 m² | - |
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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 959 EUR awarded · 959 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 300 EUR |
| 2023 | 1 | 659 EUR | 659 EUR |
| 2022 | 1 | 300 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,694 companies in sector 68121 we hold annual accounts for 7,383. 2,786 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:jens@sinenco.be