SIPA

Active

Private limited companyfounded 20233 yrs activePannenhuisstraat 45, 3650 Dilsen-Stokkem, BelgiumKBO/BCE: BE 0801.980.261

Summary

The computed 12-month bankruptcy probability of SIPA is 2.2% (moderate). The 2025 annual accounts show equity of €339k and a net result of €115k. Its solvency ranks better than 18% of 7777 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

55 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability76▼-11

Solvency42▲+1

Growth52

Track record94

Bankruptcy probability, 12 months

2.2% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €18k at 30 days acceptable

Liquidity short (current ratio 0.9 against 0.73 in 2024; short-term debt: 53% and cash: 19.3% of total assets), and 82.9% of the assets are financed with debt.

How do we compute the score and the probability?

Credit check for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

17.1%

Return on assets

5.8%

Age of the figures

9 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 7777 sector peers (2025).

NBB · sector comparison

Position among 7777 sector peers

Solvency

better than 18%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.

NBB · 2 filings

Deviation from the deadline

2025

31 d early

2024

1 d early

← before the deadline after the deadline →

Checked, nothing found (2)

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.

Companies Code · seven months

Position in the running window

24-09-2026 today31-12-2026 close31-07-2027 deadline

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 2025, abbreviated schema

Equity

€339k▲ 51.2%

2024 · €224k

2024: €224k

2024 → 2025

Total assets

€1.98M▲ 38.4%

2024 · €1.43M

2024: €1.43M

2024 → 2025

Net result

€115k▼ 46.4%

2024 · €214k

2024: €214k

2024 → 2025

Working capital

€-104k▲ 39.1%

2024 · €-171k

2024: €-171k

2024 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20242025Trend

Equity€224k-€339k▲ 51.2%

Operating result€291k-€184k▼ 36.7%

Net result€214k-€115k▼ 46.4%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 37% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.98M

52.2%

47.8%

Fixed assets €1.03M ▲ 6.7%

Current assets €945k ▲ 105%

Equity and liabilities €1.98M

17.1%

82.9%

Equity €339k ▲ 51.2%

Debt €1.64M ▲ 36.0%

Debt's share of the balance-sheet total falls from 84.3% to 82.9%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€648k▲

2024 · €562k

Cash flow

€579k▲

2024 · €485k

Current ratio

0.90▲

2024 · 0.73

Quick ratio

0.87▲

2024 · 0.69

Debt to equity

4.84▼

2024 · 5.39

ROE

33.9%▼

2024 · 95.5%

ROA

5.8%▼

2024 · 15.0%

Interest coverage

13.04▲

2024 · 12.54

Debt ≤ 1 year

€1.05M▲

2024 · €631k

Debt > 1 year

€591k▲

2024 · €575k

Income taxes

€20k▼

2024 · €34k

Staff costs

€674k▼

2024 · €729k

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 · 2025 against 2024 · 52 lines

Balance sheet Code20242025

Assets

Total assets20/58€1.43M€1.98M▲

Fixed assets21/28€969k€1.03M▲

Intangible fixed assets21€6k€5k▼

Tangible fixed assets22/27€963k€1.03M▲

Plant, machinery and equipment23€210k€306k▲

Furniture and vehicles24€753k€497k▼

Leasing and similar rights25-€226k

Current assets29/58€460k€945k▲

Stocks and contracts in progress3€22k€35k▲

Stocks30/36€22k€35k▲

Amounts receivable within one year40/41€276k€527k▲

Trade receivables40€253k€450k▲

Other amounts receivable41€23k€77k▲

Cash at bank and in hand54/58€160k€381k▲

Deferred charges and accrued income490/1€2k€2k▼

Equity and liabilities

Total equity and liabilities10/49€1.43M€1.98M▲

Equity10/15€224k€339k▲

Contributions10/11€10k€10k=

Reserves13€214k€329k▲

Distributable reserves133€214k€329k▲

Amounts payable17/49€1.21M€1.64M▲

Amounts payable after more than one year17€575k€591k▲

Financial debts170/4€575k€591k▲

Amounts payable within one year42/48€631k€1.05M▲

Current portion of amounts payable after more than one year42€278k€364k▲

Trade debts44€116k€418k▲

Suppliers440/4€116k€418k▲

Taxes, remuneration and social security45€135k€167k▲

Taxes450/3€37k€38k▲

Remuneration and social security454/9€99k€130k▲

Other amounts payable47/48€101k€100k▼

Income statement Code20242025

Non-recurring operating income76A€17k€0▼

Remuneration, social security and pensions62€729k€674k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€271k€464k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€500

Other operating charges640/8€15k€24k▲

Non-recurring operating charges66A€8k€0▼

Gross operating margin9900€1.31M€1.35M▲

Operating profit (loss)9901€291k€184k▼

Financial income75/76B€1k€224▼

Recurring financial income75€1k€224▼

Financial charges65/66B€45k€50k▲

Recurring financial charges65€45k€50k▲

Profit (loss) for the period before taxes9903€248k€135k▼

Income taxes67/77€34k€20k▼

Profit (loss) for the period9904€214k€115k▼

Profit (loss) for the period to be appropriated9905€214k€115k▼

Appropriation of the result

Profit (loss) to be appropriated9906€214k€115k▼

Transfer to equity691/2€214k€115k▼

To contributions691€214k€0▼

To other reserves6921-€115k

Social balance

Average headcount (FTE)90876.710.0▲

The notes to these accounts (17 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 2Filings 2

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-06

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

30-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

NBB filing

Directors · office · real estate

Directors

2 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, Dilsen-Stokkem · 1 establishment unit since 2023

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.

Pannenhuisstraat 453650 Dilsen-Stokkem

Ground area

9,968 m²

Building footprint

1,197 m²

Volume, LiDAR

7,935 m³

Parcel 72005C0044/00X000, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

SIPA

Pannenhuisstraat 45, 3650 Dilsen-StokkemSpecialised construction activities

since 20232.345.322.913

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
72005C0044/00X000	Flanders	9,967 m²	1 · 1,197 m²	7.5 m · 2 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.

Public money · subsidies and aid

Flemish government

2024 to 2025 · 2 entries · 2,528 EUR awarded · 2,528 EUR paid

Year	Entries	awarded	paid
2025	1	288 EUR	288 EUR
2024	1	2,240 EUR	2,240 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

2 entries · 2,528 EUR · 2,528 EUR paid · Fonds voor Innoveren en Ondernemen

Recognitions · licences · registrations

Recognised contractor

5 categories

SIPA BV#10275

category C, class 4 · category C1, class 4 · category C5, class 4 · category G, class 4 · category G5, class 4

decision 05-11-2025 · valid until 04-07-2027

Similar companies · same sector, comparable size

TERRASSEMENTS SCLAYNOIS ET CONSTRUCTIONS

BE 0426.853.745

Andenne · Eq €337,686

GROND- EN AFBRAAKWERKEN POPELIER

BE 0755.874.874

Tielt · Eq €337,646

TERRASSEMENTS-SCIERIE LASCHET TAETER

BE 0423.431.427

Welkenraedt · Eq €337,564

Of 8,455 companies in sector 43120 we hold annual accounts for 3,233. 2,396 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

Founded23-05-2023

Fiscal year end31-12

Activities, NACEBEL 2025

41001General construction of residential buildings

43120Site preparation

Sources

Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.