SIPAN
The computed 12-month bankruptcy probability of SIPAN is 3.3% (moderate). The 2025 annual accounts show equity of €25k and a net result of €-49k. Equity is shrinking by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 35% of 12646 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €25k |
| Net result | €-49k |
| Better than sector | 35% |
| Active | 8 yrs |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 12.8% | 30.5% | |
| Net result | €-49k | €5k | |
| Equity | €25k | €30k | |
| Gross operating margin | €220k | €62k | |
| Staff costs | €247k | €56k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | €554k | - | €457k |
| EBITDA | €-33k | €45k | €45k | €18k | €-36k |
| Net profit | €-49k | €20k | €22k | €-12k | €-48k |
| Cash flow | €-39k | €29k | €33k | €-282 | €-41k |
| Staff costs | €247k | €110k | €69k | €88k | €59k |
| Income taxes | €-203 | €12k | - | €13k | €565 |
| Dividends | - | €10k | - | - | - |
| Total assets | €196k | €169k | €136k | €119k | €98k |
| Equity | €25k | €74k | €64k | €41k | €54k |
| Debt | €171k | €94k | €72k | €78k | €44k |
| of which ≤ 1y | €163k | €86k | €67k | €74k | €40k |
| of which > 1y | - | - | - | - | - |
| Working capital | €-13k | €59k | €42k | €8k | €8k |
| Employees (FTE) | - | - | - | - | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.92 | 1.69 | 1.63 | 1.11 | 1.21 |
| Quick ratio | 0.83 | 1.52 | 1.43 | 0.98 | 0.96 |
| Working capital ratio | -6.5% | 35.2% | 30.9% | 6.9% | 8.4% |
| Solvency | 12.8% | 44.0% | 46.9% | 34.5% | 54.7% |
| Debt / equity | 6.84 | 1.27 | 1.13 | 1.90 | 0.83 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | -5.62 | 7.93 | 6.23 | 2.63 | -8.36 |
| Gross margin | - | - | 13.1% | - | 1.5% |
| Net margin | - | - | 4.1% | - | -10.5% |
| ROA | -25.0% | 12.1% | 16.5% | -10.3% | -49.1% |
| ROE | -195.5% | 27.5% | 35.3% | -30.0% | -89.7% |
| EBITDA margin | - | - | 8.0% | - | -7.9% |
| Days sales outstanding | - | - | 9d | - | 4d |
| Days payable outstanding | - | - | 38d | - | 24d |
| Inventory turnover | - | - | 36.83 | - | 44.98 |
| Days inventory (DSI) | - | - | 10d | - | 8d |
Full annual accounts (25 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €196k | €169k | €136k | €119k | €98k |
| Fixed assets | 21/28 | €47k | €23k | €27k | €37k | €50k |
| Intangible fixed assets | 21 | €4k | €5k | €400 | €500 | €600 |
| Tangible fixed assets | 22/27 | €42k | €18k | €26k | €37k | €49k |
| Current assets | 29/58 | €150k | €146k | €109k | €82k | €48k |
| Stocks & contracts in progress | 3 | €14k | €15k | €13k | €10k | €10k |
| Amounts receivable within one year | 40/41 | €21k | €8k | €71k | €38k | €24k |
| Cash & bank | 54/58 | €25k | €27k | €24k | €30k | €13k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €196k | €169k | €136k | €119k | €98k |
| Equity | 10/15 | €25k | €74k | €64k | €41k | €54k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Reserves | 13 | €22k | €22k | €12k | €12k | €12k |
| Accumulated profits (losses) | 14 | €-9k | €40k | €39k | €17k | €29k |
| Amounts payable | 17/49 | €171k | €94k | €72k | €78k | €44k |
| Amounts payable within one year | 42/48 | €163k | €86k | €67k | €74k | €40k |
| Trade debts payable within one year | 44 | €52k | €55k | €50k | €40k | €30k |
| Income statement | ||||||
| Turnover | 70 | - | - | €554k | - | €457k |
| Gross operating margin | 9900 | €220k | €161k | €115k | €106k | €34k |
| Operating result | 9901 | €-43k | €36k | €34k | €5k | €-43k |
| Financial income | 75 | €9 | €2k | €67 | €1k | €150 |
| Financial charges | 65 | €6k | €6k | €7k | €7k | €4k |
| Result before taxes | 9903 | €-49k | €32k | €22k | €284 | €-48k |
| Income taxes | 67/77 | €-203 | €12k | - | €13k | €565 |
| Net result for the period | 9904 | €-49k | €20k | €22k | €-12k | €-48k |
| Result to be appropriated | 9905 | €-49k | €20k | €22k | €-12k | €-48k |
| NACE primary | Limited-service restaurants, excluding mobile food services(56112) |
| Legal form | Private limited company(610) |
| Incorporation | 07-08-2018 |
| Status | Active |
| Postal code | 4101 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62058B0525/00G000indicative | Wallonia | 3,919 m² | 1 · 962 m² | 6.6 m · 2 fl. |
| 62037B0393/00L002 | Wallonia | 387 m² | 1 · 182 m² | 11.9 m · 4 fl. |
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
25-01-2024 Publication in the Belgian Official Gazette, Minor change
Technical details
{
"notary": {
"name": "Anna PONENTE",
"firm_city": null,
"firm_name": null,
"office_city": "Aubel",
"is_associated": false
},
"act_meta": {
"language": "fr",
"pub_date": "2024-01-25",
"filing_date": "2024-01-23",
"act_kind_objet": "STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS), MODIFICATION FORME JURIDIQUE, DEMISSIONS, NOMINATIONS, DENOMINATION"
},
"decision": {
"body": "algemene_vergadering",
"date": "2024-01-19",
"unanimous": true
},
"agm_change": null,
"detected_kind": "statutes_change",
"other_address": null,
"mandate_renewal": {
"period_end": null,
"mandate_kind": "administrateur",
"period_start": null,
"remuneration_eur": null,
"remuneration_kind": "gratuit",
"person_or_entity_kbo": null,
"person_or_entity_name": "SESEN Ahmet"
},
"subject_company": {
"kbo": "0700.694.445",
"name_full": "SESEN",
"legal_form": "SRL"
},
"accounts_deposit": null,
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null
},
"co_filed_documents": [
"l\u2019exp\u00E9dition de l\u2019acte du 19 janvier 2024",
"les statuts coordonn\u00E9s"
],
"fiscal_year_change": null,
"liquidation_closure": null,
"officer_designation": null,
"special_procuration": null,
"is_volet_a_only_stub": false,
"vakbekwaamheid_change": null,
"should_reroute_to_category": null,
"single_shareholder_declaration": null
}| Legal nameFR | SIPAN |