Active BE 0554.738.545Private limited company

SISSAU CONSTRUCT

Zeedijk 127 ·8430 Middelkerke, Belgium· 12 yrs active

Sector: Development of residential building projects (68121)

Conclusion Checked

SISSAU CONSTRUCT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.28M and a net result of €971k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 54% of 547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€1.28M
Net result	€971k
Staff (FTE)	0.6
Better than sector	54%

Financial profile 5 of 5 axes measured · computed by Checked

74 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 63

Profitability 100

Solvency 30

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2014, 12 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

63 / 100 Healthy

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€80k

estimate, not credit advice

Score history

35 2022

63 2023

32 2024

63 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.24 (≥ 1.0) +5

Leverage Debt/equity 4.14 (> 3.0) -10

Profitability ROE 76% (≥ 10%) +10

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview11 NBB filings

Annual accounts filed on 23-07-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Sector comparison

Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	19.4%	16.2%	better than 54% of 547 sector peers
Net result	€971k	€6k	better than 95% of 547 sector peers
Equity	€1.28M	€167k	better than 79% of 547 sector peers
Gross operating margin	€1.45M	€77k	better than 92% of 546 sector peers
Staff costs	€32k	€70k	higher than 32% of 83 sector peers

Net profit

€971k

- 22-25

Total assets

€6.58M

+109.5% 22-25

Equity

€1.28M

+315.2% 22-25

Working capital

€1.28M

+402.3% 22-25

Employees (FTE)

1

+20.0% 22-25

Staff costs

€32k

+49.2% 22-25

Income taxes

€298k

- 22-25

Debt

€5.30M

+87.1% 22-25

Debt ≤ 1y

€5.26M

+85.9% 22-25

Current ratio

1.24

+14.0% 22-25

Quick ratio

0.70

-14.1% 22-25

Solvency

19.4%

+98.2% 22-25

Debt / equity

4.14

-54.9% 22-25

ROE

75.9%

- 22-25

ROA

14.8%

- 22-25

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2025 Δ	2024 Δ	2023 Δ	2022 Δ
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-	-
EBITDA	-	-	-	-
Net profit	-	-	-	-
Cash flow	-	-	-	-
Staff costs	+49.2%	-	-	-
Income taxes	-	-100.0%	-	-
Dividends	-	-	-	-
Total assets	+109.5%	+35.4%	-32.2%	-
Equity	+315.2%	-28.3%	+34.7%	-
Debt	+87.1%	+49.9%	-39.1%	-
of which ≤ 1y	+85.9%	+49.9%	-39.0%	-
of which > 1y	-	-	-	-
Working capital	+402.3%	-28.7%	+40.3%	-
Employees (FTE)	+20.0%	-	-	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	1.24	1.09	1.19	1.08
Quick ratio	0.70	0.82	0.69	0.77
Working capital ratio	19.4%	8.1%	15.4%	7.4%
Solvency	19.4%	9.8%	18.5%	9.3%
Debt / equity	4.14	9.20	4.40	9.73
Long-term debt ratio	-	-	-	-
Interest coverage	-	-	-	-
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	14.8%	-3.9%	4.8%	-1.9%
ROE	75.9%	-39.5%	25.8%	-20.1%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €39k · 0.6% Current assets €6.54M · 99.4%

Equity & liabilities

Equity €1.28M · 19.4% Debt €5.30M · 80.6%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€6.58M	€3.14M	€2.32M	€3.42M
Fixed assets	21/28	€39k	€56k	€75k	€70k
Financial fixed assets	28	€39k	€56k	€75k	€70k
Current assets	29/58	€6.54M	€3.08M	€2.24M	€3.35M
Stocks & contracts in progress	3	€2.85M	€773k	€949k	€956k
Amounts receivable within one year	40/41	€2.79M	€1.81M	€1.05M	€1.57M
Cash & bank	54/58	€906k	€488k	€235k	€816k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€6.58M	€3.14M	€2.32M	€3.42M
Equity	10/15	€1.28M	€308k	€429k	€319k
Contributions / capital	10/11	€19k	€19k	€19k	€19k
Reserves	13	€1.26M	€362k	€411k	€364k
Accumulated profits (losses)	14	€0	€-73k	€0	€-64k
Amounts payable	17/49	€5.30M	€2.83M	€1.89M	€3.10M
Amounts payable within one year	42/48	€5.26M	€2.83M	€1.89M	€3.10M
Trade debts payable within one year	44	€1.69M	€140k	€835k	€697k
Income statement
Gross operating margin	9900	€1.45M	€-50k	€128k	€-52k
Operating result	9901	€1.40M	€-101k	€125k	€-60k
Financial income	75	€82k	€49k	€59k	€60k
Financial charges	65	€217k	€70k	€58k	€64k
Result before taxes	9903	€1.27M	€-121k	€126k	€-64k
Income taxes	67/77	€298k	€0	€16k	€0
Net result for the period	9904	€971k	€-121k	€111k	€-64k
Result to be appropriated	9905	€971k	€-121k	€111k	€-64k

Directors & mandates 4 directors

Current directors & mandates

Karel Hendrik SISSAU
Non-statutory director
State Gazette act 23350236 (31-05-2023)

Current
31-05-2023 → present
Martine Marie Jeanne Juliette DE NIE
Non-statutory director
State Gazette act 23350236 (31-05-2023)

Current
31-05-2023 → present

Former directors (2)

Karel SISSAU
Sole director
State Gazette act 23350236 (31-05-2023)

Former
- → 31-05-2023
Martine DE NIE
Sole director
State Gazette act 23350236 (31-05-2023)

Former
- → 31-05-2023

Legal Structure

NACE primary	Development of residential building projects(68121)
Legal form	Private limited company(610)
Incorporation	23-06-2014
Status	Active
Postal code	8430

Establishment units 1 location

Zeedijk 127, 8430 Middelkerke

Construction of residential and non-residential buildings

since 20142.233.297.316

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
35011B0180/00F065	Flanders	121 m²	1 · 135 m²	37.0 m · 10 fl.

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.

Updates 11 events

All 15Financial 4Gazette 1Filings 10

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

2026

23-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Back to profitnet €971k

Net result €971k after one loss-making year.

31-12

Financial Equity above €1MEq €1.28M ▲315%

Equity rises from €308k to €1.28M.

26-06

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Weakest financial yearnet €-121k ▼210%

Net result drops to €-121k, the lowest in the series; recovery starts the following year.

03-05

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Back to profitnet €111k

Net result €111k after one loss-making year.

06-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

31-05

State Gazette act Director changes

Hans Vanhimbeeck

2022

29-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

20-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 51 days late

2020

22-09

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 53 days late

2019

27-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 27 days late

2018

13-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 13 days late

2017

26-08

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 26 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 3 years ago

2023

31-05-2023 2 directors appointed, 2 resigning Director changes·Hans Vanhimbeeck

Karel Hendrik SISSAU, Niet-statutair bestuurder
Martine Marie Jeanne Juliette DE NIE, Niet-statutair bestuurder
Karel SISSAU, Enig bestuurder
Martine DE NIE, Enig bestuurder

Notary: Hans Vanhimbeeck · Middelkerke

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Development of residential building projects68121

Names & trade names

Legal nameNL

SISSAU CONSTRUCT

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