SABBE & Cie

Active

Public limited companyfounded 198244 yrs activeRue Pont-à-Migneloux 35, 6041 Charleroi, BelgiumKBO/BCE: BE 0422.548.232

SABBE & Cie has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.01M and a net result of €-2k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 21% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

55 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability47▼-31

Solvency44▼-1

Growth52▼-26

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €55k at 30 days acceptable

Liquidity short (current ratio 0.89 against 0.96 in 2024; short-term debt: 51.5% and cash: 0.3% of total assets), and 80.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Nine signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

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

Sector 46

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 2025

Solvency, return and age of the figures

Solvency

19.3%

Return on assets

Age of the figures

18 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 4867 sector peers (2025).

NBB · sector comparison

Position among 4867 sector peers

Solvency

better than 21%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-11-2025, 30 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 filings

Deviation from the deadline

2025

30 d late

2024

30 d late

2023

30 d late

2022

6 d late

2021

28 d late

2020

28 d late

2019

116 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.

Companies Code · seven months

Position in the running window

31-03-2026 close23-09-2026 today31-10-2026 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-2k

2024 · €390k

2019: €-1k 2020: €191k 2021: €-85k 2022: €193k 2023: €307k 2024: €390k

2019 → 2025

Working capital

€-309k▼ 146%

2024 · €-125k

2019: €-785k 2020: €-596k 2021: €-767k 2022: €-659k 2023: €-413k 2024: €-125k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€90k-€276k▲ 208%€582k▲ 110%€1.02M▲ 75.0%€1.01M▼ 0.4%

Operating result€-17k-€255k€381k▲ 49.2%€565k▲ 48.4%€113k▼ 80.0%

Net result€-85k-€193k€307k▲ 59.5%€390k▲ 26.9%€-2k

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 80% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €5.26M

54.4%

45.6%

Fixed assets €2.86M▲ 31.3%

Current assets €2.40M▼ 15.3%

Equity and liabilities €5.26M

19.3%

80.4%

Equity €1.01M▼ 0.4%

Provisions €15k▼ 10.0%

Debt €4.23M▲ 6.4%

The debt ratio rises from 79.3% to 80.4%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€410k▼

2024 · €804k

Cash flow

€295k▼

2024 · €628k

Solvency

19.3%▼

2024 · 20.3%

Current ratio

0.89▼

2024 · 0.96

Quick ratio

0.45▼

2024 · 0.75

Debt / equity

4.17▲

2024 · 3.90

ROE

-0.2%▼

2024 · 38.3%

ROA

0.0%▼

2024 · 7.8%

Interest coverage

3.45▼

2024 · 7.29

Debt

€4.23M▲

2024 · €3.97M

Debt ≤ 1 year

€2.71M▼

2024 · €2.96M

Debt > 1 year

€1.52M▲

2024 · €1.01M

Income taxes

€-71▼

2024 · €68k

Staff costs

€277k▲

2024 · €273k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€5.01M€5.26M▲

Fixed assets21/28€2.18M€2.86M▲

Intangible fixed assets21€2k€2k▲

Tangible fixed assets22/27€2.18M€2.86M▲

Land and buildings22€602k€555k▼

Plant, machinery and equipment23€704k€618k▼

Furniture and vehicles24€170k€178k▲

Leasing and similar rights25€700k€1.50M▲

Financial fixed assets28€347€3k▲

Current assets29/58€2.83M€2.40M▼

Stocks and contracts in progress3€613k€1.17M▲

Stocks30/36€613k€1.17M▲

Amounts receivable within one year40/41€2.19M€1.19M▼

Trade receivables40€2.11M€1.19M▼

Other amounts receivable41€78k-

Cash at bank and in hand54/58€11k€15k▲

Deferred charges and accrued income490/1€14k€20k▲

Equity and liabilities

Total equity and liabilities10/49€5.01M€5.26M▲

Equity10/15€1.02M€1.01M▼

Contributions10/11€220k€220k=

Capital10€220k€220k=

Issued capital100€220k€220k=

Reserves13€247k€242k▼

Non-distributable reserves130/1€24k€24k=

Legal reserve130€22k€22k=

Reserves not available under the articles1311€2k€2k=

Tax-exempt reserves132€73k€68k▼

Distributable reserves133€150k€150k=

Profit (loss) carried forward14€523k€527k▲

Investment grants15€28k€25k▼

Provisions and deferred taxes16€16k€15k▼

Deferred taxes168€16k€15k▼

Amounts payable17/49€3.97M€4.23M▲

Amounts payable after more than one year17€1.01M€1.52M▲

Financial debts170/4€1.01M€1.52M▲

Amounts payable within one year42/48€2.96M€2.71M▼

Current portion of amounts payable after more than one year42€288k€417k▲

Financial debts43€706k€680k▼

Credit institutions430/8€706k€680k▼

Trade debts44€1.74M€1.46M▼

Suppliers440/4€1.74M€1.46M▼

Taxes, remuneration and social security45€109k€38k▼

Taxes450/3€71k€3k▼

Remuneration and social security454/9€38k€35k▼

Other amounts payable47/48€113k€109k▼

Accrued charges and deferred income492/3€8k€3k▼

Income statement Code20242025

Remuneration, social security and pensions62€273k€277k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€239k€297k▲

Other operating charges640/8€17k€17k=

Gross operating margin9900€1.09M€704k▼

Operating profit (loss)9901€565k€113k▼

Financial income75/76B€3k€3k▼

Recurring financial income75€3k€3k▼

Financial charges65/66B€110k€119k▲

Recurring financial charges65€110k€119k▲

Profit (loss) for the period before taxes9903€458k€-3k▼

Transfer from deferred taxes780-€2k

Income taxes67/77€68k€-71▼

Profit (loss) for the period9904€390k€-2k▼

Transfer from tax-exempt reserves789€10k€5k▼

Profit (loss) for the period to be appropriated9905€400k€3k▼

Appropriation of the result

Profit (loss) to be appropriated9906€526k€527k▲

Profit (loss) brought forward from the previous period14P€126k€523k▲

Profit to be distributed694/7€2k-

Return on contributions (dividend)694€2k-

Social balance

Average headcount (FTE)90876.6-

The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 18Financial 8Filings 10

Next filing, fiscal year 2026, expected by 31-10-2026

2025

30-11

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 30 days late

2024

30-11

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 30 days late

31-03

Financial Highest result since 2019net €390k ▲26.9%

Operating result €565k, net result €390k, both a record.

31-03

Financial Equity above €1MEq €1.02M ▲75%

3 profitable years in a row build equity to €1.02M.

2023

30-11

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 30 days late

31-03

Financial Equity above €500kEq €582k ▲110%

2 profitable years in a row build equity to €582k.

06-02

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 6 days late

2022

30-06

Financial Back to profitnet €193k

Net result €193k after one loss-making year.

30-06

Financial Equity above €200kEq €276k ▲208%

Equity rises from €90k to €276k.

28-02

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 28 days late

2021

30-06

Financial Weakest financial yearnet €-85k ▼144%

Net result drops to €-85k, the lowest in the series; recovery starts the following year.

28-02

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 28 days late

2020

30-06

Financial Back to profitnet €191k

Net result €191k after one loss-making year.

30-06

Financial Equity above €150kEq €179k

Equity rises from €-6k to €179k.

26-05

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 116 days late

2019

28-02

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 28 days late

2018

16-02

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 16 days late

2016

26-12

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2021

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

01-07-2021 Resigned as Director

Location & real-estate footprint

Registered office, Charleroi · 1 establishment unit since 1982

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue Pont-à-Migneloux 356041 Charleroi

Ground area

860 m²

Building footprint

142 m²

Volume, LiDAR