ACTIVE

SARO

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Financial year 2025 · closed on 30/09/2025

Net result

44,7 k €

-17.4% YoY

Gross margin

93,5 k €

-21.3% YoY

Equity

432,3 k €

-11.3% YoY

Workforce

0,0 ETP

What does SARO do?

SARO is a Public limited company incorporated in 1999. Its main activity is: Activities of holding companies. Its registered office is in Izegem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0468.901.463

Incorporation

28/12/1999

Legal form

Public limited company

Registered office

Krekelmotestraat 47
8870 Izegem · FlandreSee on map

Contributed capital

100 000,00 €

Latest accounts

30/09/2025

Average workforce

0,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 68121Buying and selling of own real estate 74151Specialised design activities

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	93,5 k €	-21.3%	118,8 k €	-4.9%	125 k €	-34.6%	191,2 k €	+171%	70,5 k €	-15.5%	83,4 k €	+15.1%	72,5 k €	+45.5%	49,8 k €	+228%	15,2 k €	-87.0%	117 k €	+3464%	3,3 k €	-98.7%	244,2 k €	+301%	60,9 k €	+279%	16,1 k €	-76.5%	68,4 k €	-16.7%	82,1 k €	-36.6%	129,5 k €	+140%	53,9 k €	-8.6%	59 k €
EBITDA	91,9 k €	-21.7%	117,4 k €	-5.0%	123,7 k €	-34.8%	189,6 k €	+176%	68,8 k €	-13.9%	79,9 k €	+11.2%	71,8 k €	+46.7%	49 k €	+301%	12,2 k €	-89.5%	116,4 k €	+4088%	2,8 k €	-98.9%	243,6 k €	+306%	60 k €	+17.1%	51,2 k €	+62.4%	31,5 k €	-61.2%	81,3 k €	-36.8%	128,5 k €	+142%	53,1 k €	-8.7%	58,2 k €
Operating result	82,5 k €	-18.4%	101,1 k €	-5.8%	107,3 k €	-38.1%	173,4 k €	+233%	52 k €	-27.8%	72 k €	+2.1%	70,5 k €	+46.7%	48,1 k €	+313%	11,6 k €	-89.9%	115,8 k €	+4067%	2,8 k €	-98.9%	243,6 k €	+310%	59,5 k €	+17.6%	50,6 k €	+63.7%	30,9 k €	-61.2%	79,6 k €	-37.2%	126,8 k €	+168%	47,4 k €	-8.6%	51,8 k €
Net result	44,7 k €	-17.4%	54,1 k €	-0.8%	54,6 k €	-46.5%	102 k €	+282%	26,7 k €	-35.5%	41,4 k €	-11.2%	46,6 k €	+119%	21,3 k €	+368%	-7,9 k €	-118%	45,1 k €	+336%	-19,1 k €	-109%	223,6 k €	+624%	30,9 k €	+10.9%	27,8 k €	+742%	3,3 k €	-90.6%	35,2 k €	-50.3%	70,9 k €	+390%	14,5 k €	-15.0%	17 k €
Balance sheet
Equity	432,3 k €	-11.3%	487,3 k €	+12.5%	433,2 k €	+14.4%	378,6 k €	-55.2%	845,1 k €	+3.3%	818,5 k €	+5.3%	777,1 k €	+6.4%	730,5 k €	-19.1%	902,8 k €	-0.9%	910,7 k €	+5.2%	865,6 k €	-2.2%	884,7 k €	+27.6%	693,5 k €	+2.8%	674,6 k €	-0.3%	676,7 k €	+0.5%	673,4 k €	+5.5%	638,3 k €	+12.5%	567,4 k €	+2.6%	552,9 k €
Total assets	987,2 k €	+1.0%	977,4 k €	+0.6%	971,3 k €	-1.9%	989,8 k €	-22.1%	1,3 M €	+2.8%	1,2 M €	+2.5%	1,2 M €	+0.9%	1,2 M €	-14.5%	1,4 M €	-1.8%	1,4 M €	+13.2%	1,3 M €	+1.3%	1,2 M €	+18.7%	1 M €	-2.5%	1,1 M €	-2.4%	1,1 M €	+1.9%	1,1 M €	+9.0%	989,7 k €	+0.1%	989,1 k €	+1.2%	977,4 k €
Cash	1,9 k €	+219%	595,2 €	+15.1%	517,1 €	+674%	66,8 €	-97.2%	2,4 k €	+50.1%	1,6 k €	+60.3%	1 k €	+349%	222,8 €	-62.5%	594,4 €	-32.8%	884 €	-68.9%	2,8 k €	-85.5%	19,6 k €	+394%	4 k €	-30.6%	5,7 k €	-87.4%	45,5 k €	+773%	5,2 k €	-21.2%	6,6 k €	-69.7%	21,8 k €	+165%	8,3 k €
Debts	553,1 k €	+13.3%	488,3 k €	-9.0%	536,7 k €	-11.9%	609,3 k €	+43.9%	423,3 k €	+1.9%	415,5 k €	-1.6%	422,4 k €	-7.9%	458,8 k €	-7.0%	493,1 k €	-3.0%	508,4 k €	+32.8%	382,9 k €	+10.1%	347,9 k €	+1.3%	343,5 k €	-11.9%	389,9 k €	+3.6%	376,5 k €	-5.0%	396,2 k €	+13.8%	348,2 k €	-17.1%	420,1 k €	-1.0%	424,5 k €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 6 ended

Active mandates

CARL FERAINE

Director

Active

Johan Gabriel Feraine

Director

Active

Ended mandates

Carl Feraine

Administrator - manager

Ended

CARL FERAINE

Managing director

Ended

Johan Feraine

Director

Ended

Johan Feraine

Managing director

Ended

At this address

Other companies at this address

Company	CBE no.
FERAINE● Active	0416.636.378
JOCA● Active	0433.995.618

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	21/04/2026	14/04/2025	22/04/2024	18/04/2023	19/04/2022	26/04/2021
General meeting	21/03/2026	15/03/2025	16/03/2024	18/03/2023	19/03/2022	20/03/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	21/03/2026	21/04/2026	Dutch	PDF
Abridged model	30/09/2024	15/03/2025	14/04/2025	Dutch	PDF
Abridged model	30/09/2023	16/03/2024	22/04/2024	Dutch	PDF
Abridged model	30/09/2022	18/03/2023	18/04/2023	Dutch	PDF
Abridged model	30/09/2021	19/03/2022	19/04/2022	Dutch	PDF
Abridged model	30/09/2020	20/03/2021	26/04/2021	Dutch	PDF
Abridged model	30/09/2019	21/03/2020	02/04/2020	Dutch	PDF
Abridged model	30/09/2018	16/03/2019	25/04/2019	Dutch	PDF
Abridged model	30/09/2017	17/03/2018	16/04/2018	Dutch	PDF
Abridged model	30/09/2016	18/03/2017	03/04/2017	Dutch	PDF
Abridged model	30/09/2015	19/03/2016	08/04/2016	Dutch	PDF
Abridged model	30/09/2014	21/03/2015	02/04/2015	Dutch	PDF
Abridged model	30/09/2013	15/03/2014	14/04/2014	Dutch	PDF
Abridged model	30/09/2012	16/03/2013	16/04/2013	Dutch	PDF
Abridged model	30/09/2011	17/03/2012	26/04/2012	Dutch	PDF
Abridged model	30/09/2010	19/03/2011	29/04/2011	Dutch	PDF
Abridged model	30/09/2009	20/03/2010	07/04/2010	Dutch	PDF
Abridged model	30/09/2008	21/03/2009	31/03/2009	Dutch	PDF
Abridged model	30/09/2007	15/03/2008	11/04/2008	Dutch	PDF
Abridged model	30/09/2006	17/03/2007	21/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 6 ended

Active mandates

CARL FERAINE

Director

Active

Johan Gabriel Feraine

Director

Active

Ended mandates

Carl Feraine

Administrator - manager

Ended

CARL FERAINE

Managing director

Ended

Johan Feraine

Director

Ended

Johan Feraine

Managing director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/08/2022
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares17/07/2018
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates01/06/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares25/07/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates15/06/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/04/2005
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - DOEL - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates09/06/2004
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202544,7 k €↓
2024
Annual accounts 202454,1 k €↓
2023
Annual accounts 202354,6 k €↓
2022
Annual accounts 2022102 k €↑
2021
Annual accounts 202126,7 k €↓
2020
Annual accounts 202041,4 k €↓
2019
Annual accounts 201946,6 k €↑
2018
Annual accounts 201821,3 k €↑
2017
Annual accounts 2017-7,9 k €↓
2016
Annual accounts 201645,1 k €↑
2015
Annual accounts 2015-19,1 k €↓
2014
Annual accounts 2014223,6 k €↑
2013
Annual accounts 201330,9 k €↑
2012
Annual accounts 201227,8 k €↑
2011
Annual accounts 20113,3 k €↓
2010
Annual accounts 201035,2 k €↓
2009
Annual accounts 200970,9 k €↑
2008
Annual accounts 200814,5 k €↓
2007
Annual accounts 200717 k €
28/12/1999
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

SARO

Overview

What does SARO do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline