SISY · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of SISY is 0.5% (low). The 2024 annual accounts show negative equity (€-223k) and a net result of €54k. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 9% of 123 sector peers (fiscal year 2024). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.5% Low

0%0,5%1,5%4%10%≥25%

Lower-risk legal form −Long track record −Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

2 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 123 sector peers (2024).

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 13 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-09-2025, 43 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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	12-09-2025	43 d late	2025-00489840
31-12-2023	31-07-2024	30-08-2024	30 d late	2024-00402796
31-12-2022	31-07-2023	16-06-2023	45 d early	2023-00130599
31-12-2021	31-07-2022	04-08-2022	4 d late	2022-20268916
31-12-2020	31-07-2021	30-08-2021	30 d late	2021-56000210
31-12-2019	31-07-2020	31-08-2020	31 d late	2020-50300013
31-12-2018	31-07-2019	30-08-2019	30 d late	2019-61500287
31-12-2017	31-07-2018	27-08-2018	27 d late	2018-49700094
31-12-2016	31-07-2017	31-07-2017	on the day	2017-37700511
31-12-2015	31-07-2016	09-06-2016	52 d early	2016-16000582

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2009, 17 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 Flags

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.

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€54k+28.1%

Working capital€427k+27.9%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 12-09-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~14.6%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

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).

Sector comparison

Fiscal year 2024 · NACE 28 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-13.1%	45.1%	better than 9% of 123 sector peers
Net result	€54k	€8k	better than 84% of 123 sector peers
Equity	€-223k	€50k	better than 5% of 123 sector peers
Gross operating margin	€227k	€38k	better than 94% of 123 sector peers
Total assets	€1.71M	€134k	better than 95% of 123 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P9

Stable position over 2020-2024 · n=39-123

Net result P84

Improving position over 2020-2024 · n=39-123

Equity P5

Stable position over 2020-2024 · n=39-123

Gross operating margin P94

Stable position over 2020-2024 · n=39-123

Describes the position versus peers, not a forecast.

EBITDA

€190k

+58.8% 18-24

Net profit

€54k

+28.1% 18-24

Cash flow

€128k

+12.1% 18-24

Total assets

€1.71M

-5.3% 18-24

Equity

€-223k

+19.4% 18-24

Working capital

€427k

+27.9% 18-24

Debt

€1.93M

-7.2% 18-24

Debt ≤ 1y

€170k

-49.2% 18-24

Debt > 1y

€1.72M

-1.5% 18-24

Current ratio

3.52

+75.8% 18-24

Quick ratio

3.52

+75.8% 18-24

Solvency

-13.1%

+14.9% 18-24

Debt / equity

-8.64

-15.2% 18-24

ROE

-24.0%

-58.9% 18-24

ROA

3.1%

+35.3% 18-24

Interest coverage

2.93

-87.0% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€190k
Net profit	€54k
Cash flow	€128k
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€1.71M
Equity	€-223k
Debt	€1.93M
of which ≤ 1y	€170k
of which > 1y	€1.72M
Working capital	€427k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	3.52
Quick ratio	3.52
Working capital ratio	25.0%
Solvency	-13.1%
Debt / equity	-8.64
Long-term debt ratio	-7.69
Interest coverage	2.93
Gross margin	-
Net margin	-
ROA	3.1%
ROE	-24.0%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €1.11M · 65.0% Current assets €597k · 35.0%

Full annual accounts

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

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.71M
Fixed assets	21/28	€1.11M
Tangible fixed assets	22/27	€1.11M
Current assets	29/58	€597k
Amounts receivable within one year	40/41	€168k
Investments	50/53	€250k
Cash & bank	54/58	€178k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.71M
Equity	10/15	€-223k
Contributions / capital	10/11	€780k
Accumulated profits (losses)	14	€-1.00M
Amounts payable	17/49	€1.93M
Amounts payable after one year	17	€1.72M
Amounts payable within one year	42/48	€170k
Trade debts payable within one year	44	€11k
Income statement
Gross operating margin	9900	€227k
Operating result	9901	€116k
Financial income	75	€3k
Financial charges	65	€65k
Result before taxes	9903	€54k
Net result for the period	9904	€54k
Result to be appropriated	9905	€54k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

41 / 100 Weak

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Chemin de Mons à Gand(DA) 2517864 Lessines

Establishment units

1 location

SISY

Chemin de Mons à Gand(DA) 251, 7864 LessinesVervaardiging van metalen constructiewerken en delen daarvan

since 20092.176.289.426

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area5,851 m²

Buildings1

Building footprint168 m²

Volume (LiDAR)955 m³

Tallest building10.8 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
55007D0009/00R003	Wallonia	5,851 m²	1 · 168 m²	10.8 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

57 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 41

Profitability 0

Solvency 67

Growth 78

Stability 100

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Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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Credit advice

verdict per customer and amount

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We hold annual accounts for 2 of the 39 companies in this sector. 1 of them are within a factor 10 of this company's equity.

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Company registry

Company registry (CBE)

Crossroads Bank

Activities

Vervaardiging van machines voor de winning van delfstoffen en voor de bouw28920Vervaardiging van machines voor de winning van delfstoffen en voor de bouw28920Overige bouwinstallatie43240Overige bouwinstallatie, n.e.g.43299Schrijnwerk43320Schrijnwerk43320Overige gespecialiseerde bouwactiviteiten, neg43990Overige gespecialiseerde bouwwerkzaamheden43999

Primary activity highlighted.

Names & trade names

Legal nameFR	SISY
AbbreviationFR	S.A.D. - T.I.B.

Registered office

Chemin de Mons à Gand(DA) 251

7864 Lessines, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.