KABINE
ActiveSummary
KABINE has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€640,002) and a net result of -€232,671. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 5% of 5071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability3▲+3
Solvency0=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.41 against 0.38 in 2024; short-term debt: 135% and cash: 3% of total assets), and equity is negative.
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Signals
Seven 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-35%
Return on assets
-12.7%
Age of the figures
9 mo
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 →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€640,002
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
55 d late
2024
61 d late
2023
44 d late
2022
13 d early
2021
32 d early
2020
4 d early
2019
54 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days after 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 14 September (4 of the last 5 filed years within 58 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€232,671▲ 38.5%
2024 · -€378,316
Working capital
-€1.4m▼ 85.3%
2024 · -€780,761
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€4,233▲ 89.4%-€2,240▲ 47.1%-€40,332▼ 1,700%-€372,990▼ 825%-€216,877▲ 41.9%
Net result-€7,884below the sector's middle half▲ 82.0%-€5,910below the sector's middle half▲ 25.0%-€44,409below the sector's middle half▼ 651%-€378,316below the sector's middle half▼ 752%-€232,671below the sector's middle half▲ 38.5%
Equity-€700,698below the sector's middle half▼ 1.1%-€706,608below the sector's middle half▼ 0.8%-€29,015below the sector's middle half▲ 95.9%-€407,331below the sector's middle half▼ 1,304%-€640,002below the sector's middle half▼ 57.1%
Total assets€31,789below the sector's middle half▼ 11.6%€29,516below the sector's middle half▼ 7.2%€638,443within the sector's middle half▲ 2,063%€859,590within the sector's middle half▲ 34.6%€1.8mwithin the sector's middle half▲ 113%
Debt€732,487▲ 0.5%€736,123▲ 0.5%€667,458▼ 9.3%€1.3m▲ 89.8%€2.5m▲ 95.0%
Working capital-€700,698below the sector's middle half▼ 1.1%-€706,608below the sector's middle half▼ 0.8%-€401,199below the sector's middle half▲ 43.2%-€780,761below the sector's middle half▼ 94.6%-€1.4mbelow the sector's middle half▼ 85.3%
Solvency-4.5%below the sector's middle half-47.4%below the sector's middle half▼ 42.8pp-35.0%below the sector's middle half▲ 12.4pp
Current ratio0.04below the sector's middle half▼ 0.010.04below the sector's middle half=0.40below the sector's middle half▲ 0.360.38below the sector's middle half▼ 0.020.41below the sector's middle half▲ 0.03
Return on assets (ROA)-24.8%below the sector's middle half▲ 96.7pp-20.0%below the sector's middle half▲ 4.8pp-7.0%below the sector's middle half▲ 13.1pp-44.0%below the sector's middle half▼ 37.1pp-12.7%below the sector's middle half▲ 31.3pp
Staff (FTE)0.6below the sector's middle half5.3within the sector's middle half▲ 783%5.9within the sector's middle half▲ 11.3%
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 stays negative: a loss of €216,877 in 2025 against €372,990 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€807,015 ▲ 115%
Current assets
€1.0m ▲ 111%
Equity and liabilities
Equity-€640,002
Debt€2.5m
Equity is negative: debt (€2.5m) exceeds the balance-sheet total (€1.8m).
Key figures and ratios
EBITDA
-€113,324▲
2024 · -€333,749
Cash flow
-€129,118▲
2024 · -€339,074
Quick ratio
0.14▲
2024 · 0.13
Interest coverage
-6.94▲
2024 · -36.35
Debt ≤ 1 year
€2.5m▲
2024 · €1.3m
Staff costs
€207,473▲
2024 · €193,642
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,621 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.5%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,340 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% | 1.8% |
| 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 6,621 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €5,935 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €11,281 | €193,642 | €207,473 | ▲ 7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €3,307 | €39,241 | €103,553 | ▲ 164% |
| Other operating charges640/8 | €609 | €610 | €13,682 | €1,841 | €1,497 | ▼ 18.7% |
| Non-recurring operating charges66A | - | - | - | €0 | €0 | ▼ 100% |
| Gross operating margin9900 | -€3,624 | -€1,631 | -€12,061 | -€138,266 | €95,646 | ▲ 169% |
| Operating profit (loss)9901 | -€4,233 | -€2,240 | -€40,332 | -€372,990 | -€216,877 | ▲ 41.9% |
| Financial income75/76B | - | - | - | €3,857 | €546 | ▼ 85.9% |
| Recurring financial income75 | - | - | - | €3,857 | €546 | ▼ 85.9% |
| Financial charges65/66B | €3,651 | €3,670 | €4,077 | €9,183 | €16,340 | ▲ 77.9% |
| Recurring financial charges65 | €3,651 | €3,670 | €4,077 | €9,183 | €16,340 | ▲ 77.9% |
| Profit (loss) for the period before taxes9903 | -€7,884 | -€5,910 | -€44,409 | -€378,316 | -€232,671 | ▲ 38.5% |
| Profit (loss) for the period9904 | -€7,884 | -€5,910 | -€44,409 | -€378,316 | -€232,671 | ▲ 38.5% |
| Profit (loss) for the period to be appropriated9905 | -€7,884 | -€5,910 | -€44,409 | -€378,316 | -€232,671 | ▲ 38.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €31,789 | €29,516 | €638,443 | €859,590 | €1.8m | ▲ 113% |
| Fixed assets21/28 | - | - | €372,800 | €375,213 | €807,015 | ▲ 115% |
| Intangible fixed assets21 | - | - | €190,242 | €237,128 | €345,656 | ▲ 45.8% |
| Tangible fixed assets22/27 | - | - | €182,440 | €137,967 | €461,240 | ▲ 234% |
| Plant, machinery and equipment23 | - | - | €31,146 | €14,474 | €37,561 | ▲ 160% |
| Furniture and vehicles24 | - | - | €9,354 | €5,150 | €19,938 | ▲ 287% |
| Leasing and similar rights25 | - | - | €141,939 | €118,343 | - | - |
| Other tangible fixed assets26 | - | - | - | - | €403,741 | - |
| Financial fixed assets28 | - | - | €119 | €119 | €119 | = |
| Current assets29/58 | €31,789 | €29,516 | €265,643 | €484,377 | €1.0m | ▲ 111% |
| Stocks and contracts in progress3 | - | - | €147,789 | €319,040 | €689,629 | ▲ 116% |
| Stocks30/36 | - | - | €147,789 | €319,040 | €689,629 | ▲ 116% |
| Amounts receivable within one year40/41 | €13,246 | €13,246 | €76,260 | €109,058 | €262,970 | ▲ 141% |
| Trade receivables40 | €11,661 | €11,661 | €22,085 | €84,128 | €207,571 | ▲ 147% |
| Other amounts receivable41 | €1,585 | €1,585 | €54,175 | €24,930 | €55,400 | ▲ 122% |
| Cash at bank and in hand54/58 | €18,544 | €16,270 | €36,551 | €52,846 | €54,427 | ▲ 3.0% |
| Deferred charges and accrued income490/1 | - | - | €5,043 | €3,432 | €16,534 | ▲ 382% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €31,789 | €29,516 | €638,443 | €859,590 | €1.8m | ▲ 113% |
| Equity10/15 | -€700,698 | -€706,608 | -€29,015 | -€407,331 | -€640,002 | ▼ 57.1% |
| Contributions10/11 | €250,000 | €250,000 | €972,001 | €972,001 | €972,001 | = |
| Capital10 | €250,000 | €250,000 | €972,001 | €972,001 | €972,001 | = |
| Issued capital100 | €250,000 | €250,000 | €972,001 | €972,001 | €972,001 | = |
| Profit (loss) carried forward14 | -€950,698 | -€956,608 | -€1.0m | -€1.4m | -€1.6m | ▼ 16.9% |
| Amounts payable17/49 | €732,487 | €736,123 | €667,458 | €1.3m | €2.5m | ▲ 95.0% |
| Amounts payable within one year42/48 | €732,487 | €736,123 | €666,841 | €1.3m | €2.5m | ▲ 95.3% |
| Trade debts44 | €6,143 | €6,143 | €101,306 | €133,968 | €419,606 | ▲ 213% |
| Suppliers440/4 | €6,143 | €6,143 | €101,306 | €133,968 | €419,606 | ▲ 213% |
| Advances received on contracts in progress46 | - | - | €6,000 | €39,850 | €45,887 | ▲ 15.2% |
| Taxes, remuneration and social security45 | €261 | €262 | €18,281 | €24,956 | €65,631 | ▲ 163% |
| Taxes450/3 | €261 | €262 | €7,389 | €10,135 | €34,059 | ▲ 236% |
| Remuneration and social security454/9 | - | - | €10,892 | €14,821 | €31,572 | ▲ 113% |
| Other amounts payable47/48 | €726,083 | €729,718 | €541,254 | €1.1m | €1.9m | ▲ 81.9% |
| Accrued charges and deferred income492/3 | - | - | €617 | €1,783 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,884 | -€5,910 | -€44,409 | -€378,316 | -€232,671 | ▲ 38.5% |
| + Depreciation and write-downs630 | - | - | €3,307 | €39,241 | €103,553 | ▲ 164% |
| Operating cash flow (approximation) | -€7,884 | -€5,910 | -€41,102 | -€339,074 | -€129,118 | ▲ 61.9% |
| Investment in fixed assets (approximation) | - | - | - | -€41,655 | -€535,354 | ▼ 1,185% |
| Change in cash | - | -€2,274 | €20,281 | €16,296 | €1,580 | ▼ 90.3% |
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
Next filing, fiscal year 2026, expected by
2026
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 55 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet -€378,316
Net result drops to -€378,316, the lowest in the series; recovery starts the following year.
13-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 44 days late
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 54 days late
2019
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 48 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 7 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Koksijde · 3 establishment units since 2005
Ground area
4,303 m²
Building footprint
2,032 m²
Volume, LiDAR
33,852 m³
3 parcels, Flanders · tallest building 54.7 m, ±9 floors. Linked by address, not a title deed.
3 establishment units
Kabine Koksijde
since 20052.145.975.540
Kabine Oostende
since 20232.355.030.633
Kabine Blankenberge
since 20252.373.495.770
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35382B0032/00C009 | Flanders | 2,425 m² | 1 · 1,043 m² | 54.7 m · 9 fl. |
| 38014E0349/00M000 | Flanders | 985 m² | 1 · 506 m² | 31.9 m |
| 31004A0868/00A000 | Flanders | 894 m² | 1 · 482 m² | 13.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
GERISART
16 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- GERISART
- KABINE
Highest known parent: GERISART. The sources do not say who stands above it.
Owners 1
- GERISARTparentSourceaccounts GERISART 202580%
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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Company details
Identification
Legal formPublic limited company
Founded25-03-2005
Fiscal year end31-12
Activities, NACEBEL 2025
46150Agents in the wholesale of furniture, household goods and hardware
47551Retail sale of household furniture
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
46900Non-specialised wholesale trade
47540Retail sale of electrical household appliances
47639Retail sale of other sporting goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0872758983
Also
9925:BE0872758983
Registered
11-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.