Active BE 0809.320.587Private limited company

SOL SAT

Rue Bayet 20 ·6000 Charleroi, Belgium· 17 yrs active

Sector: Plumbing work (43221)

Conclusion Checked

SOL SAT has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €90k and a net result of €27k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 71% of 2906 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

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

Key figures

Equity	€90k
Net result	€27k
Staff (FTE)	0.3
Better than sector	71%

Financial profile 5 of 5 axes measured · computed by Checked

95 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 100

Solvency 99

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.8% 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 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 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

100 / 100 Excellent

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.

Indicative credit limit

€9k

estimate, not credit advice

Score history

93 2022

86 2023

70 2024

100 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 3.96 (≥ 1.5) +10

Quick ratio Quick ratio 3.96 (≥ 1.0) +5

Leverage Debt/equity 0.64 (< 1.0) +10

Profitability ROE 31% (≥ 10%) +10

Interest coverage Interest coverage 31.7× (≥ 3×) +8

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 overview17 NBB filings

Annual accounts filed on 08-04-2026 with the NBB · fiscal year 2025 · micro schema

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 ~7.4%/year over 4 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 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	61.0%	43.3%	better than 71% of 2906 sector peers
Net result	€27k	€13k	better than 68% of 2905 sector peers
Equity	€90k	€44k	better than 74% of 2906 sector peers
Gross operating margin	€72k	€39k	better than 70% of 2903 sector peers
Staff costs	€18k	€30k	higher than 41% of 943 sector peers

EBITDA

€53k

+205.9% 22-25

Net profit

€27k

- 22-25

Cash flow

€46k

+197.4% 22-25

Total assets

€147k

+10.6% 22-25

Equity

€90k

+24.4% 22-25

Working capital

€70k

+27.6% 22-25

Employees (FTE)

0

-85.0% 22-25

Staff costs

€18k

-67.1% 22-25

Income taxes

€6k

+1667.9% 22-25

Dividends

€10k

- 22-25

Debt

€57k

-5.7% 22-25

Debt ≤ 1y

€23k

+60.4% 22-25

Debt > 1y

€34k

-26.6% 22-25

Current ratio

3.96

-16.1% 22-25

Quick ratio

3.96

-14.9% 22-25

Solvency

61.0%

+12.5% 22-25

Debt / equity

0.64

-24.2% 22-25

ROE

30.5%

- 22-25

ROA

18.6%

- 22-25

Interest coverage

31.70

+338.8% 22-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	€53k	€17k	€15k	€33k
Net profit	€27k	€-2k	€4k	€20k
Cash flow	€46k	€15k	€15k	€29k
Staff costs	€18k	€54k	€52k	€38k
Income taxes	€6k	-	€344	€4k
Dividends	€10k	-	-	-
Total assets	€147k	€133k	€112k	€109k
Equity	€90k	€72k	€74k	€70k
Debt	€57k	€61k	€38k	€39k
of which ≤ 1y	€23k	€15k	€37k	€37k
of which > 1y	€34k	€46k	€625	€2k
Working capital	€70k	€54k	€55k	€49k
Employees (FTE)	0.3	2.0	1.5	0.9

Ratios (computed)

	2025	2024	2023	2022
Current ratio	3.96	4.72	2.46	2.33
Quick ratio	3.96	4.65	2.46	2.33
Working capital ratio	47.2%	40.9%	48.7%	45.0%
Solvency	61.0%	54.2%	66.1%	64.2%
Debt / equity	0.64	0.84	0.51	0.56
Long-term debt ratio	0.38	0.64	0.01	0.03
Interest coverage	31.70	7.22	32.02	93.77
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	18.6%	-1.5%	3.8%	18.3%
ROE	30.5%	-2.7%	5.8%	28.6%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €54k · 36.9% Current assets €93k · 63.1%

Equity & liabilities

Equity €90k · 61.0% Debt €57k · 39.0%

Full annual accounts (24 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	€147k	€133k	€112k	€109k
Fixed assets	21/28	€54k	€64k	€20k	€23k
Tangible fixed assets	22/27	€54k	€64k	€20k	€23k
Current assets	29/58	€93k	€69k	€92k	€86k
Stocks & contracts in progress	3	-	€1k	-	-
Amounts receivable within one year	40/41	€52k	€55k	€68k	€69k
Cash & bank	54/58	€35k	€7k	€22k	€17k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€147k	€133k	€112k	€109k
Equity	10/15	€90k	€72k	€74k	€70k
Contributions / capital	10/11	€6k	€6k	€6k	€6k
Reserves	13	€60k	€42k	€42k	€38k
Accumulated profits (losses)	14	€24k	€24k	€26k	€26k
Amounts payable	17/49	€57k	€61k	€38k	€39k
Amounts payable after one year	17	€34k	€46k	€625	€2k
Amounts payable within one year	42/48	€23k	€15k	€37k	€37k
Trade debts payable within one year	44	€3k	€8k	€15k	€16k
Income statement
Gross operating margin	9900	€72k	€72k	€68k	€73k
Operating result	9901	€35k	€61	€5k	€24k
Financial income	75	€214	€364	€510	€330
Financial charges	65	€2k	€2k	€473	€355
Result before taxes	9903	€34k	€-2k	€5k	€24k
Income taxes	67/77	€6k	-	€344	€4k
Net result for the period	9904	€27k	€-2k	€4k	€20k
Result to be appropriated	9905	€27k	€-2k	€4k	€20k

Directors & mandates 2 directors

Former directors (2)

SATINET Marc
Manager
State Gazette act 23462894 (19-12-2023)

Former
- → 19-12-2023
SATINET Tristan
Manager
State Gazette act 23462894 (19-12-2023)

Former
- → 19-12-2023

Legal Structure

NACE primary	Plumbing work(43221)
Legal form	Private limited company(610)
Incorporation	23-01-2009
Status	Active
Postal code	6000

Establishment units 1 location

SOL SAT

Rue Bayet 20, 6000 CharleroiRepair, maintenance and installation of machinery and equipment

since 20092.175.803.535

Real-estate footprint Source: CBE × cadastre

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
52302A0647/00C005	Wallonia	190 m²	1 · 62 m²	9.4 m · 3 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 13Financial 2Gazette 1Filings 10

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

2026

08-04

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Back to profitnet €27k

Net result €27k after one loss-making year.

06-05

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Weakest financial yearnet €-2k ▼146%

Net result drops to €-2k, the lowest in the series; recovery starts the following year.

19-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

19-12

State Gazette act Director changes

Alexis Brahy

24-03

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

17-05

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-03

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

21-03

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

06-03

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

12-03

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

03-04

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

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

Belgian State Gazette reading coverage 0 of 4 acts read

We know of 4 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 2 years ago

2023

19-12-2023 2 resigning, 2 reappointed Director changes·Alexis Brahy

SATINET Marc, Zaakvoerder
SATINET Tristan, Zaakvoerder
SATINET Marc, Bestuurder
SATINET Tristan, Bestuurder

Notary: Alexis Brahy · Charleroi

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Plumbing work43221Installation of electric heating, air conditioning, cooling and ventilation43222Insulation installation43230Specialised construction activities43291Agents in the wholesale of furniture, household goods and hardware46150

Names & trade names

Legal nameFR

SOL SAT

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