Sabe
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 12 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 52% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €600,461 | €945,343 | €973,070 | €890,607 | €936,241 |
| Mortgages, amount registered | €633,600 | €633,600 | €633,600 | €633,600 | €633,600 |
| Carrying value of the mortgaged assets | €830,653 | €1.3m | €1.3m | €1.2m | €1.2m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €115,234 | €543,629 | €10,715 | €6,397 | - |
| Depreciation and write-downs of the year | €26,223 | €51,331 | €49,243 | €49,656 | €49,816 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 9 entries · €816,121 awarded · €816,120 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €27,805 | €27,751 |
| 2024 | 2 | €283,782 | €283,835 |
| 2023 | 3 | €269,496 | €269,496 |
| 2022 | 2 | €235,038 | €235,038 |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €5,165 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €25,350 | €26,223 | €51,331 | €49,243 | €49,656 | €49,816 | ▲ 0.3% |
| Other operating charges640/8 | - | - | €6,580 | €5,866 | €8,267 | €2,963 | €5,091 | ▲ 71.8% |
| Gross operating margin9900 | €10,481 | €51,828 | €52,963 | €39,816 | €82,218 | €139,971 | €96,545 | ▼ 31.0% |
| Operating profit (loss)9901 | -€5,605 | €26,478 | €20,160 | -€17,381 | €24,708 | €87,352 | €41,638 | ▼ 52.3% |
| Financial income75/76B | - | - | €469 | - | €224 | - | €2 | - |
| Recurring financial income75 | - | €8 | €469 | - | €224 | - | €2 | - |
| Financial charges65/66B | - | - | €34,100 | €17,523 | €36,421 | €35,227 | €32,799 | ▼ 6.9% |
| Recurring financial charges65 | €12,182 | €6,153 | €34,100 | €17,523 | €36,421 | €35,227 | €32,799 | ▼ 6.9% |
| Profit (loss) for the period before taxes9903 | -€17,787 | €20,333 | -€13,471 | -€34,904 | -€11,489 | €52,124 | €8,841 | ▼ 83.0% |
| Income taxes67/77 | - | €1,007 | €918 | - | - | - | €330 | - |
| Profit (loss) for the period9904 | -€17,787 | €19,326 | -€14,388 | -€34,904 | -€11,489 | €52,124 | €8,511 | ▼ 83.7% |
| Transfer from tax-exempt reserves789 | - | - | €5,730 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€17,787 | €19,326 | -€8,658 | -€34,904 | -€11,489 | €52,124 | €8,511 | ▼ 83.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.8m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 3.8% |
| Fixed assets21/28 | €0.8m | €0.7m | €0.8m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 4.0% |
| Tangible fixed assets22/27 | €0.8m | €0.7m | €0.8m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 4.0% |
| Land and buildings22 | - | - | €0.8m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 4.0% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €0.007m | €0.03m | €0.006m | €0.007m | €0.02m | €0.002m | €0.005m | ▲ 163% |
| Amounts receivable within one year40/41 | - | €0.02m | - | €0.004m | €0.002m | - | - | - |
| Other amounts receivable41 | - | - | - | €0.004m | €0.002m | - | - | - |
| Cash at bank and in hand54/58 | €0.007m | €0.02m | €0.006m | €0.001m | €0.002m | €0.002m | €0.003m | ▲ 103% |
| Deferred charges and accrued income490/1 | - | - | €139 | €0.002m | €0.02m | €128 | €0.001m | ▲ 947% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.8m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 3.8% |
| Equity10/15 | €0.03m | €0.05m | €0.04m | €146 | -€0.01m | €0.04m | €0.05m | ▲ 20.9% |
| Contributions10/11 | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.02m | €0.04m | €0.03m | - | - | €0.03m | €0.04m | ▲ 24.6% |
| Distributable reserves133 | - | - | €0.03m | - | - | €0.03m | €0.04m | ▲ 24.6% |
| Profit (loss) carried forward14 | - | - | - | -€0.006m | -€0.02m | - | - | - |
| Amounts payable17/49 | €0.8m | €0.7m | €0.8m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 4.6% |
| Amounts payable after more than one year17 | €0.5m | €0.5m | €0.6m | €0.9m | €0.9m | €1.1m | €1.0m | ▼ 8.9% |
| Financial debts170/4 | - | - | €0.6m | €0.9m | €0.9m | €0.8m | €0.8m | ▲ 4.1% |
| Other amounts payable178/9 | - | - | - | - | - | €0.3m | €0.2m | ▼ 44.2% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.4m | €0.4m | €0.1m | €0.1m | ▲ 39.7% |
| Current portion of amounts payable after more than one year42 | - | - | €0.04m | €0.06m | €0.08m | €0.08m | €0.1m | ▲ 15.5% |
| Financial debts43 | - | - | €0.01m | €0.01m | €0.01m | €0.01m | - | - |
| Credit institutions430/8 | - | - | €0.01m | €0.01m | €0.01m | €0.01m | - | - |
| Trade debts44 | €0.03m | €0.005m | €0.006m | €0.007m | €0.005m | €0.006m | €0.02m | ▲ 240% |
| Suppliers440/4 | - | - | €0.006m | €0.007m | €0.005m | €0.006m | €0.02m | ▲ 240% |
| Taxes, remuneration and social security45 | - | - | €0.001m | €0.001m | - | - | €330 | - |
| Taxes450/3 | - | - | €0.001m | €0.001m | - | - | €330 | - |
| Other amounts payable47/48 | - | - | €0.2m | €0.4m | €0.3m | - | €0.03m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.001m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,787 | €19,326 | -€14,388 | -€34,904 | -€11,489 | €52,124 | €8,511 | ▼ 83.7% |
| + Depreciation and write-downs630 | - | €25,350 | €26,223 | €51,331 | €49,243 | €49,656 | €49,816 | ▲ 0.3% |
| Operating cash flow (approximation) | -€17,787 | €44,677 | €11,835 | €16,427 | €37,754 | €101,780 | €58,327 | ▼ 42.7% |
| Investment in fixed assets (approximation) | - | €5,000 | -€115,234 | -€543,629 | -€10,715 | -€6,397 | €0 | - |
| Change in cash | - | €8,853 | -€9,738 | -€5,180 | €732 | -€126 | €1,715 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,448 companies had the same profile as Sabe has now. Two years later, 2.0% had gone bankrupt and 95.6% were still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Sabe itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,448 companies, not a prediction for Sabe. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-06-2026 | 2026-00184031 | |
| 31-12-2024 | abbreviated format | 26-06-2025 | 2025-00182977 | |
| 31-12-2023 | abbreviated format | 19-07-2024 | 2024-00265121 | |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00286141 | |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20090122 | |
| 31-07-2020 | abbreviated format | 25-02-2021 | 2021-06100364 | |
| 31-07-2019 | micro format | 05-03-2020 | 2020-06300137 | |
| 31-07-2018 | micro format | 04-03-2019 | 2019-06400147 | |
| 31-07-2017 | micro format | 07-03-2018 | 2018-06400431 | |
| 31-07-2016 | abbreviated format | 30-08-2017 | 2017-53800068 |