Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 111.4 to 97.4.
Financials
Financial year 2025
NV SAS INSTITUTE SA from Tervuren, company number BE0434697184, closed financial year 2025 with a result of € 696,177 after tax. For that financial year NV SAS INSTITUTE SA recorded revenue of € 47.2 million and equity of € 8.3 million. Compared with financial year 2024, the result moved from € 948,911 to € 696,177. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 1, 2026.
€ 8.3 million
▲ 9% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 696,177
▼ 27% vs 2024
Profit after tax over the fiscal year.
€ 19 million
▲ 81% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 5.3 million.
People and assets in 2025
97.4
▼ 8.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 19.7 million
▼ 8% vs 2024
€ 202,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 59,496
▼ 19% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 13.8 million
▲ 77% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 193 days on average.
€ 5.9 million
▼ 21% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 45,704,533 | € 47,475,613 | € 49,329,514 | € 47,236,766 | ▼ 4% |
| Profit after taxes | € 726,887 | € 751,170 | € 948,911 | € 696,177 | ▼ 27% |
| Equity | € 5,926,149 | € 6,667,429 | € 7,606,449 | € 8,292,736 | ▲ 9% |
| Total debts | € 38,939,186 | € 42,838,660 | € 46,862,903 | € 48,083,528 | ▲ 3% |
| Cash | € 15,041,108 | € 15,540,132 | € 10,523,609 | € 19,027,441 | ▲ 81% |
| Land & buildings | € 1,994,923 | € 2,247,930 | € 2,098,012 | € 1,957,046 | ▼ 7% |
| Retained profit | € 2,945,769 | € 3,696,939 | € 4,645,850 | € 5,342,027 | ▲ 15% |
| Balance sheet total | € 45,120,649 | € 50,077,905 | € 54,730,639 | € 56,431,486 | ▲ 3% |
| Employees (FTE) | 117.1 | 111.4 | 105.8 | 97.4 | ▼ 8.4 |
Key figures of NV SAS INSTITUTE SA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to NV SAS INSTITUTE SA?
What happened at NV SAS INSTITUTE SA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- CATHERINE ETHERIDGE OTTO stepped down as director. NBB
- GUNTER COOLS stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 696,177 (▼ 27% vs 2024). Source: NBB ↗
- CATHERINE ETHERIDGE OTTO became a director. NBB
- GUNTER COOLS became a director. NBB
- New establishment in Tervuren. KBO
- Start of the company according to the CBE. KBO
In short
From € 726,887 profit in 2022 to € 696,177 profit in 2025.
Paid € 2 million in corporate taxes since 2022.
Best year ever: 2024, with € 948,911 profit.
Pays suppliers within 193 days on average.
A new publication or filing at NV SAS INSTITUTE SA? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by SAS Institute A/S (100%) and SAS Institute Holdings LLC (0%).
Directors
According to the 2025 annual accounts
CATHERINE ETHERIDGE OTTO
Director
since 2025 · until 2031
GUNTER COOLS
Director
since 2025 · until 2031
Shareholders
SAS Institute A/S
100%
SAS Institute Holdings LLC
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Hertenbergstraat 6
3080 Tervuren
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
SAS-WHQ - SAS Institute, Inc., US
Domain
Domain
sas.com
Registered
1990-03-02
Registrar
Nom-iq Ltd. dba COM LAUDE
Expires
2027-03-03
Website info
Features
Security
Details
- Company number
- 0434.697.184
- VAT number
- BE 0434.697.184
- Registered office
- Hertenbergstraat 6, 3080 Tervuren
- Names & denominations
- NV SAS INSTITUTE SA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 June 1988
- Peppol
- Active · Active since 12 Jan 2026
- Contact
- sas.com [email protected] 02 766 07 00
- Activities · NACE
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