SAN & HEAT
ActiveSummary
The computed 12-month bankruptcy probability of SAN & HEAT is 1.8% (moderate). The 2025 annual accounts show equity of €408k and a net result of €139k. Equity is growing by ~29.3% per year across the filed fiscal years. Its solvency ranks better than 67% of 7777 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
79
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability94▲+6
Solvency84▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.38 against 2.29 in 2024; short-term debt: 35.4% and cash: 41.5% of total assets), and 41.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
58.6%
Return on assets
20%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 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.
NBB · 7 filingsDeviation from the deadline
2025
11 d late
2024
53 d late
2023
9 d late
2022
25 d late
2021
30 d late
2020
25 d late
2019
87 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€139k▲ 85.2%
2024 · €75k
2019: €73k
2020: €-1k
2021: €51k
2022: €62k
2023: €39k
2024: €75k
2019 → 2025
Working capital
€340k▲ 54.7%
2024 · €220k
2019: €151k
2020: €133k
2021: €165k
2022: €182k
2023: €240k
2024: €220k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€143k-€205k▲ 43.4%€244k▲ 19.2%€269k▲ 10.3%€408k▲ 51.7%
Operating result€76k-€84k▲ 11.4%€60k▼ 28.9%€107k▲ 77.7%€195k▲ 82.9%
Net result€51k-€62k▲ 21.2%€39k▼ 36.7%€75k▲ 91.2%€139k▲ 85.2%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 83% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €696k
Fixed assets
€109k ▲ 5.7%
Current assets
€587k ▲ 50.3%
Equity and liabilities €696k
Equity
€408k ▲ 51.7%
Debt
€288k ▲ 28.1%
Debt's share of the balance-sheet total falls from 45.5% to 41.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€228k▲
2024 · €128k
Cash flow
€172k▲
2024 · €97k
Current ratio
2.38▲
2024 · 2.29
Debt to equity
0.71▼
2024 · 0.84
ROE
34.1%▲
2024 · 27.9%
ROA
20.0%▲
2024 · 15.2%
Interest coverage
19.28▲
2024 · 17.73
Debt ≤ 1 year
€246k▲
2024 · €170k
Debt > 1 year
€42k▼
2024 · €54k
Income taxes
€44k▲
2024 · €24k
Staff costs
€394k▼
2024 · €411k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€494k€696k▲
Fixed assets21/28€103k€109k▲
Tangible fixed assets22/27€96k€93k▼
Plant, machinery and equipment23€6k€4k▼
Furniture and vehicles24€31k€40k▲
Leasing and similar rights25€39k€27k▼
Other tangible fixed assets26€20k€22k▲
Financial fixed assets28€7k€16k▲
Current assets29/58€390k€587k▲
Amounts receivable within one year40/41€173k€290k▲
Trade receivables40€129k€236k▲
Other amounts receivable41€44k€53k▲
Cash at bank and in hand54/58€203k€289k▲
Deferred charges and accrued income490/1€14k€8k▼
Equity and liabilities
Total equity and liabilities10/49€494k€696k▲
Equity10/15€269k€408k▲
Contributions10/11€20k€20k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€247k€386k▲
Amounts payable17/49€225k€288k▲
Amounts payable after more than one year17€54k€42k▼
Financial debts170/4€54k€42k▼
Amounts payable within one year42/48€170k€246k▲
Current portion of amounts payable after more than one year42€35k€34k▼
Trade debts44€30k€97k▲
Suppliers440/4€30k€97k▲
Taxes, remuneration and social security45€43k€48k▲
Taxes450/3€39k€38k▼
Remuneration and social security454/9€4k€10k▲
Other amounts payable47/48€63k€67k▲
Accrued charges and deferred income492/3€25-
Income statement
Code20242025
Non-recurring operating income76A-€600
Remuneration, social security and pensions62€411k€394k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€33k▲
Other operating charges640/8€5k€3k▼
Non-recurring operating charges66A€935-
Gross operating margin9900€545k€625k▲
Operating profit (loss)9901€107k€195k▲
Financial income75/76B€1€88▲
Recurring financial income75€1€88▲
Financial charges65/66B€7k€12k▲
Recurring financial charges65€7k€12k▲
Profit (loss) for the period before taxes9903€99k€183k▲
Income taxes67/77€24k€44k▲
Profit (loss) for the period9904€75k€139k▲
Profit (loss) for the period to be appropriated9905€75k€139k▲
Appropriation of the result
Profit (loss) to be appropriated9906€297k€386k▲
Profit (loss) brought forward from the previous period14P€222k€247k▲
Profit to be distributed694/7€50k-
Return on contributions (dividend)694€50k-
Social balance
Average headcount (FTE)90876.56.3▼
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 11 days late
2025
31-12
Financial
Highest result since 2019net €139k ▲85.2%
Operating result €195k, net result €139k, both a record.
22-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 53 days late
2024
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Equity above €200kEq €205k ▲43.4%
2 profitable years in a row build equity to €205k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €51k
Net result €51k after one loss-making year.
31-12
Financial
Equity above €100kEq €143k ▲55.9%
Equity rises from €92k to €143k.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet €-1k ▼102%
Net result drops to €-1k, the lowest in the series; recovery starts the following year.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
2 acts for this company are 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, Farciennes · 1 establishment unit since 2019
Ground area
112 m²
Building footprint
86 m²
Volume, LiDAR
573 m³
Parcel 52054A0008/00B002, Wallonia · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SAN & HEAT
since 20192.284.233.105
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52054A0008/00B002 | Wallonia | 112 m² | 1 · 86 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Recognised contractor
4 categoriesSAN & HEAT SRL41847
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,252 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded16-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
43230Insulation installation
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:jl.barbieux1972@gmail.com
Phone:071/850850