Sunsails Export
ActiveSummary
The computed 12-month bankruptcy probability of Sunsails Export is 2.6% (moderate). The 2025 annual accounts show equity of €34k and a net result of €-6k. Equity is growing by ~30.1% per year across the filed fiscal years. Its solvency ranks better than 28% of 1909 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-78
Solvency49▼-4
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Liquidity tight (current ratio 1.35 against 1.4 in 2024; short-term debt: 73.6% and cash: 7.1% of total assets), and 75.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
24.5%
Return on assets
-4%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 22-10-2025, 9 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
9 d early
2024
on the day
2023
1 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€34k▼ 14.1%
2024 · €40k
2023: €14klowest in 3 years
2024: €40k▲ +192% vs 2023highest in 3 years
2025: €34k▼ -14.1% vs 2024
2023 → 2025
Total assets
€141k▼ 2.0%
2024 · €144k
2023: €145khighest in 3 years
2024: €144k▼ -0.8% vs 2023
2025: €141k▼ -2.0% vs 2024lowest in 3 years
2023 → 2025
Net result
€-6k
2024 · €26k
2023: €14k
2024: €26k▲ +93.4% vs 2023highest in 3 years
2025: €-6k▼ -121% vs 2024lowest in 3 years
2023 → 2025
Working capital
€36k▼ 11.0%
2024 · €40k
2023: €12klowest in 3 years
2024: €40k▲ +246% vs 2023highest in 3 years
2025: €36k▼ -11.0% vs 2024
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€14k-€40k▲ 192%€34k▼ 14.1%
2023: €14klowest in 3 years
2024: €40k▲ +192% vs 2023highest in 3 years
2025: €34k▼ -14.1% vs 2024
Operating result€17k-€34k▲ 96.4%€-5k
2023: €17k
2024: €34k▲ +96.4% vs 2023highest in 3 years
2025: €-5k▼ -114% vs 2024lowest in 3 years
Net result€14k-€26k▲ 93.4%€-6k
2023: €14k
2024: €26k▲ +93.4% vs 2023highest in 3 years
2025: €-6k▼ -121% vs 2024lowest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5k after €34k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €141k
Fixed assets
€1k ▼ 30.2%
Current assets
€140k ▼ 1.6%
Equity and liabilities €141k
Equity
€34k ▼ 14.1%
Debt
€106k ▲ 2.7%
Debt's share of the balance-sheet total rises from 72.1% to 75.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-4k▼
2024 · €35k
Cash flow
€-5k▼
2024 · €27k
Current ratio
1.35▼
2024 · 1.40
Quick ratio
0.51▲
2024 · 0.42
Debt to equity
3.09▲
2024 · 2.59
ROE
-16.4%▼
2024 · 65.8%
ROA
-4.0%▼
2024 · 18.3%
Interest coverage
-4.65▼
2024 · 31.85
Debt ≤ 1 year
€104k▲
2024 · €102k
Income taxes
€0▼
2024 · €7k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€144k€141k▼
Fixed assets21/28€2k€1k▼
Tangible fixed assets22/27€2k€1k▼
Plant, machinery and equipment23€2k€1k▼
Current assets29/58€142k€140k▼
Stocks and contracts in progress3€99k€87k▼
Stocks30/36€99k€87k▼
Amounts receivable within one year40/41€28k€42k▲
Trade receivables40€28k€35k▲
Other amounts receivable41-€6k
Cash at bank and in hand54/58€14k€10k▼
Deferred charges and accrued income490/1€735€791▲
Equity and liabilities
Total equity and liabilities10/49€144k€141k▼
Equity10/15€40k€34k▼
Contributions10/11€100€100=
Reserves13€40k€40k=
Distributable reserves133€40k€40k=
Profit (loss) carried forward14-€-6k
Amounts payable17/49€104k€106k▲
Amounts payable within one year42/48€102k€104k▲
Financial debts43-€507
Credit institutions430/8-€507
Trade debts44€18k€30k▲
Suppliers440/4€18k€30k▲
Taxes, remuneration and social security45€15k€14k▼
Taxes450/3€15k€14k▼
Other amounts payable47/48€69k€59k▼
Accrued charges and deferred income492/3€2k€3k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€597€597=
Other operating charges640/8€796€834▲
Gross operating margin9900€35k€-3k▼
Operating profit (loss)9901€34k€-5k▼
Financial income75/76B€0€68▲
Recurring financial income75€0€68▲
Financial charges65/66B€1k€904▼
Recurring financial charges65€1k€904▼
Profit (loss) for the period before taxes9903€33k€-6k▼
Income taxes67/77€7k€0▼
Profit (loss) for the period9904€26k€-6k▼
Profit (loss) for the period to be appropriated9905€26k€-6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€26k€-6k▼
Transfer to equity691/2€26k€0▼
To other reserves6921€26k€0▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €409 | €597 | €597 | = |
| Other operating charges640/8 | €291 | €796 | €834 | ▲ 4.9% |
| Gross operating margin9900 | €18k | €35k | €-3k | ▼ 109% |
| Operating profit (loss)9901 | €17k | €34k | €-5k | ▼ 114% |
| Financial income75/76B | €27 | €0 | €68 | - |
| Recurring financial income75 | €27 | €0 | €68 | - |
| Financial charges65/66B | €515 | €1k | €904 | ▼ 17.0% |
| Recurring financial charges65 | €515 | €1k | €904 | ▼ 17.0% |
| Profit (loss) for the period before taxes9903 | €17k | €33k | €-6k | ▼ 117% |
| Income taxes67/77 | €3k | €7k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €14k | €26k | €-6k | ▼ 121% |
| Profit (loss) for the period to be appropriated9905 | €14k | €26k | €-6k | ▼ 121% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €145k | €144k | €141k | ▼ 2.0% |
| Fixed assets21/28 | €3k | €2k | €1k | ▼ 30.2% |
| Tangible fixed assets22/27 | €3k | €2k | €1k | ▼ 30.2% |
| Plant, machinery and equipment23 | €3k | €2k | €1k | ▼ 30.2% |
| Current assets29/58 | €142k | €142k | €140k | ▼ 1.6% |
| Stocks and contracts in progress3 | €100k | €99k | €87k | ▼ 12.3% |
| Stocks30/36 | €100k | €99k | €87k | ▼ 12.3% |
| Amounts receivable within one year40/41 | €22k | €28k | €42k | ▲ 49.5% |
| Trade receivables40 | €22k | €28k | €35k | ▲ 27.0% |
| Other amounts receivable41 | - | - | €6k | - |
| Cash at bank and in hand54/58 | €20k | €14k | €10k | ▼ 28.6% |
| Deferred charges and accrued income490/1 | €725 | €735 | €791 | ▲ 7.5% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €145k | €144k | €141k | ▼ 2.0% |
| Equity10/15 | €14k | €40k | €34k | ▼ 14.1% |
| Contributions10/11 | €100 | €100 | €100 | = |
| Reserves13 | €14k | €40k | €40k | = |
| Distributable reserves133 | €14k | €40k | €40k | = |
| Profit (loss) carried forward14 | - | - | €-6k | - |
| Amounts payable17/49 | €131k | €104k | €106k | ▲ 2.7% |
| Amounts payable within one year42/48 | €131k | €102k | €104k | ▲ 2.1% |
| Financial debts43 | - | - | €507 | - |
| Credit institutions430/8 | - | - | €507 | - |
| Trade debts44 | €64k | €18k | €30k | ▲ 71.4% |
| Suppliers440/4 | €64k | €18k | €30k | ▲ 71.4% |
| Taxes, remuneration and social security45 | €11k | €15k | €14k | ▼ 8.9% |
| Taxes450/3 | €11k | €15k | €14k | ▼ 8.9% |
| Other amounts payable47/48 | €56k | €69k | €59k | ▼ 13.9% |
| Accrued charges and deferred income492/3 | €479 | €2k | €3k | ▲ 28.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €14k | €26k | €-6k | ▼ 121% |
| + Depreciation and write-downs630 | €409 | €597 | €597 | = |
| Operating cash flow (approximation) | €14k | €27k | €-5k | ▼ 119% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €-5k | €-4k | ▲ 25.6% |
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
2025
22-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Highest result since 2023net €26k ▲93.4%
Operating result €34k, net result €26k, both a record.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro 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, Waregem · 1 establishment unit since 2022
Ground area
363 m²
Building footprint
148 m²
Volume, LiDAR
8 m³
Parcel 34035A0170/00A002, Flanders · tallest building 1.4 m. Linked by address, not a title deed.
1 establishment unit
Sunsails Export
since 20222.330.565.550
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34035A0170/00A002 | Flanders | 363 m² | 1 · 148 m² | 1.4 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 908 companies in sector 25120 we hold annual accounts for 677. 329 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-03-2022
Fiscal year end31-03
Activities, NACEBEL 2025
25120Manufacture of fabricated metal products, except machinery and equipment
46419Wholesale trade
22240Manufacture of rubber and plastic products
25991Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
43350Other building finishing work
Scores and ratios are computed by Checked and are not a credit decision.