Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 17 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SANITARY GROUP from Gent, company number BE0829170054, closed financial year 2025 with a result of € 42.8 million after tax. For that financial year SANITARY GROUP recorded revenue of € 41.3 million and equity of € 10 million. Compared with financial year 2024, the result moved from € 9.1 million to € 42.8 million. Profitable, and profit is growing. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on January 27, 2026.
€ 10 million
▼ 32% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 42.8 million
▲ € 33.7 million vs 2024
Profit after tax over the fiscal year.
€ 1.9 million
▲ 64% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 47.6 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
69.9
▲ 9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 7.2 million
▲ 16% vs 2024
€ 102,400 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.
€ 67,624
▲ 8% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 15 million
▲ 67% vs 2024
Loans from banks and other lenders, long and short.
€ 2.7 million
▼ 49% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 42 days on average.
€ 1.8 million
▼ 27% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 32,161,236 | € 34,850,135 | € 39,078,695 | € 41,313,780 | ▲ 6% |
| Profit after taxes | € 29,665,117 | € 3,614,734 | € 9,103,878 | € 42,812,447 | ▲ € 33.7 million |
| Equity | € 9,029,627 | € 12,644,361 | € 14,748,239 | € 9,960,686 | ▼ 32% |
| Total debts | € 105,356,999 | € 102,844,679 | € 103,694,609 | € 99,341,000 | ▼ 4% |
| Cash | € 3,843,496 | € 3,538,370 | € 1,148,820 | € 1,889,602 | ▲ 64% |
| Retained profit | € 2,010,344 | € 5,625,078 | € 7,728,956 | € 2,941,403 | ▼ 62% |
| Dividend | € 28,500,000 | € 0 | € 7,000,000 | € 47,600,000 | ▲ € 40.6 million |
| Bank debt | € 98,555,662 | € 90,964,286 | € 9,000,000 | € 15,000,000 | ▲ 67% |
| Balance sheet total | € 114,386,626 | € 115,489,041 | € 118,442,848 | € 109,301,686 | ▼ 8% |
| Employees (FTE) | 67.8 | 67 | 60.9 | 69.9 | ▲ 9 |
Key figures of SANITARY GROUP, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to SANITARY GROUP?
What happened at SANITARY GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 42.8 million (▲ € 33.7 million vs 2024). Source: NBB ↗
- DMTS BV became a director. NBB
- Blue Holdco BV became a director. NBB
- New establishment in Evergem. KBO
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 29.7 million profit in 2022 to € 42.8 million profit in 2025.
Paid € 4 million in corporate taxes since 2022.
Best year ever: 2025, with € 42.8 million profit.
Paid out € 83.1 million in dividends to the owners in total.
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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 stake of Safuco comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SANITARY GROUPBehind SANITARY GROUP are DMTS BV and Blue Holdco BV. The shares are held by Safuco (100%). It owns 100% of Sanitary Purchase BV, 100% of X²O WEST- EN OOST-VLAANDEREN NV, 100% of X²O France SaS, 100% of LEGIO SALES BELGIUM NV, 100% of X²O WALLONIE NV and 100% of X²O BRABANT NV itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Peter Demets
Also active at: CLUB, STANDAARD BOEKHANDEL, SBL, LEGIO SALES BELGIUM, X²O WEST- EN OOST-VLAANDEREN, Safuco, X²O ANTWERPEN & LIMBURG, X²O BRABANT +2 more
since 2024
Managing director · represented by Veerle Hoebrechs
Also active at: LEGIO SALES BELGIUM, X²O WEST- EN OOST-VLAANDEREN, Safuco, X²O ANTWERPEN & LIMBURG, X²O BRABANT, X²O WALLONIE
since 2024
Shareholders
100%
Participations
Sanitary Purchase BV
100%
100%
100%
100%
X2O Germany GmbH
100%
Establishments
Establishment units
Physical locations of this company
Foreestelaan 80
9000 Gent
Ferdinand Magellaanstraat 5
9940 Evergem
Active since 1 July 2023
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →LEGIO SALES BELGIUM same network
€ 154.2 million revenue · 2025
X²O WEST- EN OOST-VLAANDEREN same network
€ 50.4 million revenue · 2025
Safuco same network
€ 524,910 revenue · 2025
X²O ANTWERPEN & LIMBURG same network
€ 24.6 million revenue · 2025
X²O BRABANT same network
€ 27.3 million revenue · 2025
+4 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0829.170.054
- VAT number
- BE 0829.170.054
- Registered office
- Foreestelaan 80, 9000 Gent
- Names & denominations
- SANITARY GROUP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 7 September 2010
- Peppol
- Active · Active since 24 Jun 2025
- Activities · NACE
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Diverse administratieve activiteiten ten behoeve van kantoren