CIBEL
ActiveSummary
CIBEL has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €644,535 and a net result of €5,325. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 64% of 6131 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability54▼-1
Solvency80▲+9
Growth52▼-22
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 1.5 against 1.33 in 2023; short-term debt: 45.4% and cash: 19.1% of total assets), and 45.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
49 d early
2022
35 d early
2021
34 d early
2020
40 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 37 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€4.0m▼ 13.9%
2023 · €4.7m
EBIT margin
0.2%▼ 0.2pp
2023 · 0.4%
Net result
€5,325▼ 65.3%
2023 · €15,350
Working capital
€269,749▲ 10.4%
2023 · €244,403
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€3.0m▼ 20.5%€3.2m▲ 7.1%€5.8m▲ 80.1%€4.7m▼ 18.9%€4.0m▼ 13.9%
Operating result€10,061▼ 87.4%€20,092▲ 99.7%€281,047▲ 1,299%€19,645▼ 93.0%€8,753▼ 55.4%
Net result€4,132within the sector's middle half▼ 92.7%€12,252within the sector's middle half▲ 197%€216,942within the sector's middle half▲ 1,671%€15,350within the sector's middle half▼ 92.9%€5,325within the sector's middle half▼ 65.3%
EBIT margin0.3%▼ 1.8pp0.6%▲ 0.3pp4.9%▲ 4.3pp0.4%▼ 4.5pp0.2%▼ 0.2pp
Equity€439,666within the sector's middle half▲ 0.9%€451,918within the sector's middle half▲ 2.8%€633,860within the sector's middle half▲ 40.3%€639,210within the sector's middle half▲ 0.8%€644,535within the sector's middle half▲ 0.8%
Total assets€990,514within the sector's middle half▼ 6.8%€1.2mwithin the sector's middle half▲ 18.6%€1.7mwithin the sector's middle half▲ 40.5%€1.4mwithin the sector's middle half▼ 16.1%€1.2mwithin the sector's middle half▼ 14.7%
Debt€550,848▼ 12.3%€723,203▲ 31.3%€1.0m▲ 40.7%€745,769▼ 26.7%€536,207▼ 28.1%
Working capital€169,224within the sector's middle half▲ 19.7%€154,871within the sector's middle half▼ 8.5%€364,101within the sector's middle half▲ 135%€244,403within the sector's middle half▼ 32.9%€269,749within the sector's middle half▲ 10.4%
Solvency44.4%within the sector's middle half▲ 3.4pp38.5%within the sector's middle half▼ 5.9pp38.4%within the sector's middle half▼ 0.1pp46.2%within the sector's middle half▲ 7.8pp54.6%within the sector's middle half▲ 8.4pp
Current ratio1.42within the sector's middle half▲ 0.131.27within the sector's middle half▼ 0.151.42within the sector's middle half▲ 0.151.33within the sector's middle half▼ 0.091.50within the sector's middle half▲ 0.18
Return on assets (ROA)0.4%within the sector's middle half▼ 4.9pp1.0%within the sector's middle half▲ 0.6pp13.1%above the sector's middle half▲ 12.1pp1.1%within the sector's middle half▼ 12.0pp0.5%within the sector's middle half▼ 0.7pp
Staff (FTE)2below the sector's middle half=2below the sector's middle half=1below the sector's middle half▼ 50.0%1below the sector's middle half=1below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 55% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.2m
Fixed assets
€374,825 ▼ 5.1%
Current assets
€805,917 ▼ 18.6%
Equity and liabilities €1.2m
Equity
€644,535 ▲ 0.8%
Debt
€536,207 ▼ 28.1%
Debt's share of the balance-sheet total falls from 53.8% to 45.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€28,774▼
2023 · €46,224
Cash flow
€25,346▼
2023 · €41,929
Debt to equity
0.83▼
2023 · 1.17
ROE
0.8%▼
2023 · 2.4%
Interest coverage
33.26▼
2023 · 52.83
Debt ≤ 1 year
€536,168▼
2023 · €745,730
Income taxes
€2,565▼
2023 · €2,580
Staff costs
€123,674▼
2023 · €125,379
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,039 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €3.3m | €5.9m | €4.8m | €4.1m | ▼ 13.6% |
| Turnover70 | €3.0m | €3.2m | €5.8m | €4.7m | €4.0m | ▼ 13.9% |
| Other operating income74 | - | €81,684 | €94,082 | €80,028 | €84,933 | ▲ 6.1% |
| Operating charges60/66A | - | €3.3m | €5.6m | €4.7m | €4.1m | ▼ 13.4% |
| Goods for resale, raw materials and consumables60 | - | €2.9m | €5.2m | €4.3m | €3.7m | ▼ 14.0% |
| Purchases600/8 | - | €2.9m | €5.2m | €4.3m | €3.7m | ▼ 14.0% |
| Services and other goods61 | - | €169,235 | €183,574 | €248,939 | €227,049 | ▼ 8.8% |
| Remuneration, social security and pensions62 | - | €157,823 | €120,801 | €125,379 | €123,674 | ▼ 1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,677 | €20,123 | €27,287 | €26,579 | €20,021 | ▼ 24.7% |
| Other operating charges640/8 | - | €5,235 | €5,121 | €5,506 | €6,026 | ▲ 9.4% |
| Operating profit (loss)9901 | €10,061 | €20,092 | €281,047 | €19,645 | €8,753 | ▼ 55.4% |
| Financial income75/76B | - | - | €14 | - | €2 | - |
| Recurring financial income75 | - | - | €14 | - | €2 | - |
| Income from financial fixed assets750 | - | - | €14 | - | - | - |
| Other financial income752/9 | - | - | - | - | €2 | - |
| Financial charges65/66B | - | €2,843 | €2,850 | €1,715 | €865 | ▼ 49.6% |
| Recurring financial charges65 | €2,603 | €2,843 | €2,850 | €1,715 | €865 | ▼ 49.6% |
| Debt charges650 | €2,250 | €2,250 | €2,250 | €875 | - | - |
| Other financial charges652/9 | - | €593 | €600 | €840 | €865 | ▲ 3.0% |
| Profit (loss) for the period before taxes9903 | €7,458 | €17,249 | €278,211 | €17,930 | €7,890 | ▼ 56.0% |
| Income taxes67/77 | €3,326 | €4,997 | €61,269 | €2,580 | €2,565 | ▼ 0.6% |
| Taxes670/3 | - | €4,997 | €61,269 | €2,580 | €2,565 | ▼ 0.6% |
| Profit (loss) for the period9904 | €4,132 | €12,252 | €216,942 | €15,350 | €5,325 | ▼ 65.3% |
| Profit (loss) for the period to be appropriated9905 | €4,132 | €12,252 | €216,942 | €15,350 | €5,325 | ▼ 65.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €990,514 | €1.2m | €1.7m | €1.4m | €1.2m | ▼ 14.7% |
| Fixed assets21/28 | €422,088 | €448,712 | €421,425 | €394,846 | €374,825 | ▼ 5.1% |
| Tangible fixed assets22/27 | €422,088 | €448,712 | €421,425 | €394,846 | €374,825 | ▼ 5.1% |
| Land and buildings22 | - | €403,238 | €385,528 | €368,528 | €358,084 | ▼ 2.8% |
| Furniture and vehicles24 | - | €45,474 | €35,897 | €26,318 | €16,741 | ▼ 36.4% |
| Current assets29/58 | €568,426 | €726,409 | €1.2m | €990,133 | €805,917 | ▼ 18.6% |
| Amounts receivable within one year40/41 | €411,802 | €610,178 | €1.2m | €794,080 | €575,779 | ▼ 27.5% |
| Trade receivables40 | - | €603,354 | €1.2m | €742,008 | €534,924 | ▼ 27.9% |
| Other amounts receivable41 | - | €6,824 | €9,546 | €52,072 | €40,855 | ▼ 21.5% |
| Cash at bank and in hand54/58 | €152,928 | €112,219 | €25,202 | €191,587 | €225,373 | ▲ 17.6% |
| Deferred charges and accrued income490/1 | - | €4,012 | €19,806 | €4,466 | €4,765 | ▲ 6.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €990,514 | €1.2m | €1.7m | €1.4m | €1.2m | ▼ 14.7% |
| Equity10/15 | €439,666 | €451,918 | €633,860 | €639,210 | €644,535 | ▲ 0.8% |
| Contributions10/11 | €279,078 | €279,078 | €279,078 | €279,078 | €279,078 | = |
| Capital10 | - | €279,078 | €279,078 | €279,078 | €279,078 | = |
| Issued capital100 | - | €279,078 | €279,078 | €279,078 | €279,078 | = |
| Reserves13 | €160,588 | €172,840 | €354,782 | €360,132 | €365,457 | ▲ 1.5% |
| Non-distributable reserves130/1 | - | €27,907 | €27,908 | €27,908 | €27,907 | = |
| Legal reserve130 | - | €27,907 | €27,908 | €27,908 | €27,907 | = |
| Distributable reserves133 | - | €144,933 | €326,874 | €332,224 | €337,550 | ▲ 1.6% |
| Amounts payable17/49 | €550,848 | €723,203 | €1.0m | €745,769 | €536,207 | ▼ 28.1% |
| Amounts payable after more than one year17 | €150,000 | €150,000 | €150,000 | - | - | - |
| Other amounts payable178/9 | - | €150,000 | €150,000 | - | - | - |
| Amounts payable within one year42/48 | €399,202 | €571,538 | €865,943 | €745,730 | €536,168 | ▼ 28.1% |
| Trade debts44 | €324,519 | €476,027 | €675,412 | €609,565 | €453,583 | ▼ 25.6% |
| Suppliers440/4 | - | €476,027 | €675,412 | €609,565 | €453,583 | ▼ 25.6% |
| Taxes, remuneration and social security45 | - | €95,511 | €155,531 | €126,165 | €82,585 | ▼ 34.5% |
| Taxes450/3 | - | €88,010 | €134,550 | €100,748 | €54,865 | ▼ 45.5% |
| Remuneration and social security454/9 | - | €7,501 | €20,981 | €25,417 | €27,720 | ▲ 9.1% |
| Other amounts payable47/48 | - | - | €35,000 | €10,000 | - | - |
| Accrued charges and deferred income492/3 | - | €1,665 | €1,666 | €39 | €39 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,132 | €12,252 | €216,942 | €15,350 | €5,325 | ▼ 65.3% |
| + Depreciation and write-downs630 | €23,677 | €20,123 | €27,287 | €26,579 | €20,021 | ▼ 24.7% |
| Operating cash flow (approximation) | €27,809 | €32,375 | €244,229 | €41,929 | €25,346 | ▼ 39.6% |
| Investment in fixed assets (approximation) | - | -€46,747 | €0 | €0 | €0 | - |
| Change in cash | - | -€40,709 | -€87,017 | €166,385 | €33,786 | ▼ 79.7% |
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
2026
26-06
State Gazette act
Appointment: Moore Audit bv (statutory auditor)Permanent representatives: Jo Vandeputte and Xavier Vandamme4 facts ▸
State Gazette act
Appointment: Moore Audit bv (statutory auditor)
Permanent representatives: Jo Vandeputte and Xavier Vandamme4 facts ▸
- General meeting, 24-06-2025
- Auditor appointment, Moore Audit bv (statutory auditor)
- Permanent representative, Jo Vandeputte (vaste vertegenwoordiger voor de uitoefening van dit mandaat)
- Permanent representative, Xavier Vandamme (permanent representative)
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €216,942 ▲1,671%
Operating result €281,047, net result €216,942, both a record.
31-12
Financial
Equity above €500,000Eq €633,860 ▲40.3%
5 profitable years in a row build equity to €633,860.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €4,132 ▼92.7%
Net result drops to €4,132, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
BV MOORE AUDIT
CurrentStatutory auditor · since 26-06-2026 · perm. rep.: Jo Vandeputte
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Deinze · 2 establishment units since 1983
Ground area
2.1 ha
Building footprint
127 m²
Volume, LiDAR
723 m³
2 parcels, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
2 establishment units
Europalaan 63, 9800 Deinze
since 19832.022.806.128
Cibel NV
since 20052.150.320.942
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44054A0090/00H000 | Flanders | 2.0 ha | 1 · 20 m² | 3.5 m · 1 fl. |
| 44452B1482/00E000 | Flanders | 107 m² | 1 · 107 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| BV MOORE AUDIT |
|
Structure & network
Part of the group
Vandamme Beheer
6 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- KOLLERGANG
- CIBEL
Highest known parent: KOLLERGANG. The sources do not say who stands above it.
Owners 2
- KOLLERGANGparent99.91%
- Vandamme Beheerparent99.91%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 4,414 companies in sector 46180 we hold annual accounts for 1,892. 1,088 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded08-08-1983
Fiscal year end31-12
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
52250Logistics services
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
Phone
09/386.75.12Deinze
E-invoicing
Reachable via Peppol
Peppol ID
0208:0424331844
Registered
09-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.