ACTIVE

SUNRAY

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Financial year 2025 · closed on 30/09/2025

Net result

2,9 k €

-73.1% YoY

Gross margin

19,7 k €

-33.3% YoY

Equity

76,5 k €

+3.9% YoY

What does SUNRAY do?

SUNRAY is a Private limited company incorporated in 2002. Its main activity is: Development of building projects. Its registered office is in Menen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.923.156

Incorporation

08/07/2002

Legal form

Private limited company

Registered office

Koekuitstraat 38
8930 Menen · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

30/09/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 93040Sports activities and amusement and recreation activities 43230Electrical, plumbing and other construction installation activities 43291Other construction installation 96040Physical well-being activities+1

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	19,7 k €	-33.3%	29,6 k €	-33.8%	44,6 k €	+79.0%	24,9 k €	+31.5%	19 k €	-45.4%	34,7 k €	+99.6%	17,4 k €	-63.7%	48 k €	+49.3%	32,2 k €	-30.6%	46,4 k €	+38.7%	33,4 k €	-5.3%	35,3 k €	+2.3%	34,5 k €	+16.2%	29,7 k €	-17.6%	36 k €	+11.6%	32,3 k €	-17.2%	39 k €	+10.9%	35,1 k €
EBITDA	18,8 k €	-34.7%	28,8 k €	-32.8%	42,9 k €	+93.9%	22,1 k €	+51.2%	14,6 k €	-50.4%	29,5 k €	+183%	10,4 k €	-75.8%	43,2 k €	+72.3%	25 k €	-38.7%	40,9 k €	+42.8%	28,6 k €	-4.5%	30 k €	+3.9%	28,9 k €	+47.9%	19,5 k €	-38.3%	31,6 k €	+17.1%	27 k €	-21.6%	34,4 k €	+16.2%	29,6 k €
Operating result	5,5 k €	-64.7%	15,7 k €	-53.4%	33,7 k €	+90.1%	17,7 k €	+71.1%	10,4 k €	-34.6%	15,8 k €	+820%	-2,2 k €	-109%	23,5 k €	+405%	4,6 k €	-76.3%	19,6 k €	+891%	2 k €	-81.3%	10,6 k €	+12.1%	9,4 k €	+2028%	-489,7 €	-105%	10,8 k €	+260%	-6,7 k €	-214%	5,9 k €	+384%	1,2 k €
Net result	2,9 k €	-73.1%	10,8 k €	-50.5%	21,7 k €	+134%	9,3 k €	+90.0%	4,9 k €	-48.8%	9,6 k €	+238%	-6,9 k €	-147%	14,8 k €	+2525%	562,7 €	-95.3%	12 k €	+2874%	-432,2 €	-112%	3,6 k €	-30.5%	5,1 k €	+217%	-4,4 k €	-164%	6,8 k €	+159%	-11,6 k €	-388%	4 k €	+219%	-3,4 k €
Balance sheet
Equity	76,5 k €	+3.9%	73,6 k €	-28.6%	103,1 k €	+26.7%	81,4 k €	+12.9%	72,1 k €	+7.3%	67,2 k €	+16.6%	57,6 k €	-10.8%	64,6 k €	+29.7%	49,8 k €	+1.1%	49,2 k €	+32.2%	37,2 k €	+34.4%	27,7 k €	+14.7%	24,1 k €	+26.9%	19 k €	-18.6%	23,4 k €	+41.1%	16,6 k €	+5.1%	15,8 k €	+34.2%	11,8 k €
Total assets	108,8 k €	-7.8%	118 k €	-26.2%	159,8 k €	-30.6%	230,2 k €	-13.1%	264,9 k €	+0.1%	264,5 k €	-65.9%	776,3 k €	+67.9%	462,3 k €	+389%	94,5 k €	-14.6%	110,7 k €	+46.1%	75,8 k €	-9.3%	83,5 k €	-15.8%	99,2 k €	-1.4%	100,6 k €	+3.3%	97,4 k €	-3.1%	100,6 k €	+0.5%	100,1 k €	-16.3%	119,6 k €
Cash	54,5 k €	+7.2%	50,8 k €	+170%	18,9 k €	-56.0%	42,8 k €	+13.2%	37,8 k €	+11.0%	34,1 k €	+265%	9,3 k €	-66.7%	28 k €	+340%	6,4 k €	-75.7%	26,2 k €	+39.7%	18,7 k €	+182%	6,6 k €	-53.6%	14,3 k €	+26.5%	11,3 k €	-15.5%	13,4 k €	+53.2%	8,7 k €	-20.3%	11 k €	+53.4%	7,1 k €
Debts	32,2 k €	-27.3%	44,3 k €	-21.7%	56,6 k €	-61.9%	148,8 k €	-22.8%	192,8 k €	-2.3%	197,4 k €	-72.5%	718,7 k €	+80.7%	397,8 k €	+789%	44,8 k €	-27.2%	61,5 k €	+68.4%	36,5 k €	-32.2%	53,8 k €	-27.2%	74 k €	-9.3%	81,6 k €	+10.2%	74,1 k €	-11.8%	84 k €	-0.4%	84,3 k €	-21.8%	107,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 1 ended

Active mandates

DOMINIQUE CARETTE

Director

Active

Ended mandates

Dominique Carette

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	12/02/2026	29/04/2025	23/04/2024	22/03/2023	28/04/2022	19/02/2021
General meeting	06/02/2026	07/02/2025	02/02/2024	03/02/2023	04/02/2022	05/02/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	06/02/2026	12/02/2026	Dutch	PDF
Micro model	30/09/2024	07/02/2025	29/04/2025	Dutch	PDF
Micro model	30/09/2023	02/02/2024	23/04/2024	Dutch	PDF
Micro model	30/09/2022	03/02/2023	22/03/2023	Dutch	PDF
Micro model	30/09/2021	04/02/2022	28/04/2022	Dutch	PDF
Micro model	30/09/2020	05/02/2021	19/02/2021	Dutch	PDF
Micro model	30/09/2019	07/03/2020	20/05/2020	Dutch	PDF
Micro model	30/09/2018	08/02/2019	01/03/2019	Dutch	PDF
Micro model	30/09/2017	31/03/2018	25/04/2018	Dutch	PDF
Abridged model	30/09/2016	03/02/2017	27/04/2017	Dutch	PDF
Abridged model	30/09/2015	21/03/2016	24/03/2016	Dutch	PDF
Abridged model	30/09/2013	31/03/2014	08/04/2014	Dutch	PDF
Abridged model	30/09/2012	30/09/2012	19/04/2013	Dutch	PDF
Abridged model	30/09/2011	31/03/2012	20/04/2012	Dutch	PDF
Abridged model	30/09/2010	31/03/2011	20/04/2011	Dutch	PDF
Abridged model	30/09/2009	31/03/2010	28/04/2010	Dutch	PDF
Abridged model	30/09/2008	31/03/2009	29/04/2009	Dutch	PDF
Abridged model	30/09/2007	31/03/2008	30/05/2008	Dutch	PDF
Abridged model	30/09/2006	02/02/2007	20/02/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 1 active · 1 ended

Active mandates

DOMINIQUE CARETTE

Director

Active

Ended mandates

Dominique Carette

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/11/2023
WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - 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 20252,9 k €↓
2024
Annual accounts 202410,8 k €↓
2023
Annual accounts 202321,7 k €↑
2022
Annual accounts 20229,3 k €↑
2021
Annual accounts 20214,9 k €↓
2020
Annual accounts 20209,6 k €↑
2019
Annual accounts 2019-6,9 k €↓
2018
Annual accounts 201814,8 k €↑
2017
Annual accounts 2017562,7 €↓
2016
Annual accounts 201612 k €↑
2015
Annual accounts 2015-432,2 €↓
2013
Annual accounts 20133,6 k €↓
2012
Annual accounts 20125,1 k €↑
2011
Annual accounts 2011-4,4 k €↓
2010
Annual accounts 20106,8 k €↑
2009
Annual accounts 2009-11,6 k €↓
2008
Annual accounts 20084 k €↑
2007
Annual accounts 2007-3,4 k €
08/07/2002
IncorporationPrivate 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

SUNRAY

Overview

What does SUNRAY do?

Trend over 18 financial years

Indicative valuation

Board of directors

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