SOSAFA
ActiveSummary
SOSAFA has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€440,361) and a net result of €12,604. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-42
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.24 against 0.24 in 2024; short-term debt: 249.9% and cash: 9.4% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-154.7%
Return on assets
4.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 8115 sector peers (2025).
NBB · sector comparisonPosition among 8115 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
16 d early
2024
31 d early
2023
36 d early
2022
4 d early
2021
41 d early
2020
31 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€12,604▼ 79.0%
2024 · €60,002
Working capital
-€539,127▼ 0.2%
2024 · -€538,293
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€83,610-€123,045€109,208€70,398▼ 35.5%€22,185▼ 68.5%
Net result€74,586within the sector's middle half▲ 303%-€132,273below the sector's middle half€97,180within the sector's middle half€60,002within the sector's middle half▼ 38.3%€12,604within the sector's middle half▼ 79.0%
Equity-€477,874below the sector's middle half▲ 13.5%-€610,147below the sector's middle half▼ 27.7%-€512,967below the sector's middle half▲ 15.9%-€452,965below the sector's middle half▲ 11.7%-€440,361below the sector's middle half▲ 2.8%
Total assets€218,274below the sector's middle half▲ 7.7%€235,350below the sector's middle half▲ 7.8%€239,022below the sector's middle half▲ 1.6%€255,336below the sector's middle half▲ 6.8%€284,729below the sector's middle half▲ 11.5%
Debt€696,148▼ 7.8%€845,497▲ 21.5%€751,989▼ 11.1%€708,301▼ 5.8%€725,090▲ 2.4%
Working capital-€477,389▲ 15.1%-€613,657▼ 28.5%-€543,576▲ 11.4%-€538,293▲ 1.0%-€539,127▼ 0.2%
Solvency-218.9%below the sector's middle half▲ 53.6pp-259.3%below the sector's middle half▼ 40.3pp-214.6%below the sector's middle half▲ 44.6pp-177.4%below the sector's middle half▲ 37.2pp-154.7%below the sector's middle half▲ 22.7pp
Staff (FTE)28.3above the sector's middle half▼ 9.6%27.8within the sector's middle half▼ 1.8%27.6within the sector's middle half▼ 0.7%27.9above the sector's middle half▲ 1.1%26.2above the sector's middle half▼ 6.1%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 68% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €284,729
Fixed assets
€112,457 ▲ 31.5%
Current assets
€172,272 ▲ 1.5%
Key figures and ratios
EBITDA
€35,975▼
2024 · €78,889
Cash flow
€26,394▼
2024 · €68,493
Current ratio
0.24▲
2024 · 0.24
Quick ratio
0.11▲
2024 · 0.11
Debt to equity
-1.65▼
2024 · -1.56
ROA
4.4%▼
2024 · 23.5%
Interest coverage
3.75▼
2024 · 7.59
Debt ≤ 1 year
€711,399▲
2024 · €708,087
Staff costs
€1.3m▼
2024 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 517 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92% are still going.
- Small
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.5%
went bankrupt
3.9%
stopped otherwise
92%
still going
A further 1.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 517 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1.0m | €1.0m | €1.2m | €1.3m | €1.3m | ▼ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,457 | €2,457 | €970 | €8,491 | €13,790 | ▲ 62.4% |
| Other operating charges640/8 | €8,289 | €7,254 | €5,522 | €3,362 | €3,141 | ▼ 6.6% |
| Gross operating margin9900 | €1.1m | €925,198 | €1.3m | €1.4m | €1.3m | ▼ 3.9% |
| Operating profit (loss)9901 | €83,610 | -€123,045 | €109,208 | €70,398 | €22,185 | ▼ 68.5% |
| Financial income75/76B | €5 | €1 | €1 | €1 | €19 | ▲ 1,800% |
| Recurring financial income75 | €5 | €1 | €1 | €1 | €19 | ▲ 1,800% |
| Financial charges65/66B | €9,029 | €9,229 | €12,029 | €10,397 | €9,600 | ▼ 7.7% |
| Recurring financial charges65 | €9,029 | €9,229 | €12,029 | €10,397 | €9,600 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €74,586 | -€132,273 | €97,180 | €60,002 | €12,604 | ▼ 79.0% |
| Profit (loss) for the period9904 | €74,586 | -€132,273 | €97,180 | €60,002 | €12,604 | ▼ 79.0% |
| Profit (loss) for the period to be appropriated9905 | €74,586 | -€132,273 | €97,180 | €60,002 | €12,604 | ▼ 79.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €218,274 | €235,350 | €239,022 | €255,336 | €284,729 | ▲ 11.5% |
| Fixed assets21/28 | €18,493 | €16,036 | €44,311 | €85,542 | €112,457 | ▲ 31.5% |
| Tangible fixed assets22/27 | €2,903 | €446 | €28,721 | €67,452 | €90,917 | ▲ 34.8% |
| Plant, machinery and equipment23 | €700 | €350 | - | €39,146 | €46,120 | ▲ 17.8% |
| Furniture and vehicles24 | - | - | €28,721 | €24,059 | €17,189 | ▼ 28.6% |
| Other tangible fixed assets26 | €2,203 | €96 | - | €4,247 | €19,238 | ▲ 353% |
| Assets under construction and advance payments27 | - | - | - | - | €8,370 | - |
| Financial fixed assets28 | €15,590 | €15,590 | €15,590 | €18,090 | €21,540 | ▲ 19.1% |
| Current assets29/58 | €199,781 | €219,314 | €194,711 | €169,794 | €172,272 | ▲ 1.5% |
| Stocks and contracts in progress3 | €90,763 | €99,716 | €97,824 | €95,403 | €93,267 | ▼ 2.2% |
| Stocks30/36 | €90,763 | €99,716 | €97,824 | €95,403 | €93,267 | ▼ 2.2% |
| Amounts receivable within one year40/41 | €12,883 | €25,812 | €42,881 | €36,575 | €45,332 | ▲ 23.9% |
| Trade receivables40 | €12,883 | €25,812 | €42,881 | €36,575 | €45,332 | ▲ 23.9% |
| Cash at bank and in hand54/58 | €88,894 | €87,025 | €43,070 | €29,591 | €26,697 | ▼ 9.8% |
| Deferred charges and accrued income490/1 | €7,241 | €6,761 | €10,936 | €8,225 | €6,976 | ▼ 15.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €218,274 | €235,350 | €239,022 | €255,336 | €284,729 | ▲ 11.5% |
| Equity10/15 | -€477,874 | -€610,147 | -€512,967 | -€452,965 | -€440,361 | ▲ 2.8% |
| Contributions10/11 | €31,036 | €31,036 | €31,036 | €31,036 | €31,036 | = |
| Reserves13 | €7,101 | €7,101 | €7,101 | €7,101 | €7,101 | = |
| Non-distributable reserves130/1 | €1,864 | €1,864 | €1,864 | €1,864 | €1,864 | = |
| Reserves not available under the articles1311 | €1,864 | €1,864 | €1,864 | €1,864 | €1,864 | = |
| Distributable reserves133 | €5,237 | €5,237 | €5,237 | €5,237 | €5,237 | = |
| Profit (loss) carried forward14 | -€516,011 | -€648,284 | -€551,104 | -€491,102 | -€478,498 | ▲ 2.6% |
| Amounts payable17/49 | €696,148 | €845,497 | €751,989 | €708,301 | €725,090 | ▲ 2.4% |
| Amounts payable within one year42/48 | €677,170 | €832,971 | €738,287 | €708,087 | €711,399 | ▲ 0.5% |
| Financial debts43 | €144,024 | €144,069 | €144,154 | €142,694 | €135,703 | ▼ 4.9% |
| Credit institutions430/8 | €144,024 | €144,069 | €144,154 | €142,694 | €135,703 | ▼ 4.9% |
| Trade debts44 | €320,552 | €405,520 | €326,117 | €277,781 | €230,929 | ▼ 16.9% |
| Suppliers440/4 | €320,552 | €405,520 | €326,117 | €277,781 | €230,929 | ▼ 16.9% |
| Taxes, remuneration and social security45 | €211,437 | €227,437 | €221,088 | €230,084 | €201,704 | ▼ 12.3% |
| Taxes450/3 | €26,762 | €26,206 | €21,166 | €25,274 | €18,533 | ▼ 26.7% |
| Remuneration and social security454/9 | €184,675 | €201,231 | €199,922 | €204,810 | €183,171 | ▼ 10.6% |
| Other amounts payable47/48 | €1,157 | €55,945 | €46,928 | €57,528 | €143,063 | ▲ 149% |
| Accrued charges and deferred income492/3 | €18,978 | €12,526 | €13,702 | €214 | €13,691 | ▲ 6,298% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,586 | -€132,273 | €97,180 | €60,002 | €12,604 | ▼ 79.0% |
| + Depreciation and write-downs630 | €2,457 | €2,457 | €970 | €8,491 | €13,790 | ▲ 62.4% |
| Operating cash flow (approximation) | €77,043 | -€129,816 | €98,150 | €68,493 | €26,394 | ▼ 61.5% |
| Investment in fixed assets (approximation) | - | €0 | -€29,245 | -€49,722 | -€40,705 | ▲ 18.1% |
| Change in cash | - | -€1,869 | -€43,955 | -€13,479 | -€2,894 | ▲ 78.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €97,180
Net result €97,180 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €18,503
Net result €18,503 after 2 loss-making years.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Mons · 5 establishment units since 1986
Ground area
2,942 m²
Building footprint
1,085 m²
Volume, LiDAR
5,299 m³
5 parcels, Wallonia · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
5 establishment units
AU MILLEFEUILLE
since 19862.028.870.311
AU MILLEFEUILLE
since 19912.028.870.608
AU MILLEFEUILLE
since 19952.028.870.707
Au Millefeuille.
since 20072.162.466.728
Au Millefeuille
since 20162.263.854.294
5 parcels
Wallonia
5
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53037C0007/00P000 | Wallonia | 1,374 m² | 1 · 512 m² | 9.6 m · 2 fl. |
| 53018A0028/00P000 | Wallonia | 955 m² | 1 · 136 m² | 11.6 m · 3 fl. |
| 53404B0462/02M000 | Wallonia | 339 m² | 1 · 159 m² | 6.2 m · 2 fl. |
| 53053H0638/00C002 | Wallonia | 176 m² | 1 · 226 m² | - |
| 53053D0178/00Y004 | Wallonia | 98 m² | 1 · 51 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
5 of 5 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
4 sitesMons2.028.870.311
Mons2.028.870.608
Mons2.028.870.707
Quévy2.162.466.728
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Of 453 companies in sector 46360 we hold annual accounts for 286. 106 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-01-1986
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
46360Wholesale trade
Contact
Phone
065/35.22.35Mons
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428423759
Also
9925:BE0428423759
Registered
17-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.