Staff
2.5 FTE from 9 in 2013
Between 2013 and 2025, 72% of the full-time equivalents disappeared.
SABELPACK
Lifetime
20 annual accounts with figures on one time axis, 37 filings since 1989peak €754,329 (2010)
€169,760▼ 21.5%
lowest -€30,477 (2025)
-€30,477▼ €46,972
peak €2.2m (2011)
€1.3m▼ 2.2%
€273,998▼ 34.8%
peak 9 FTE (2013)
2.5 FTEunchanged
Board4 names since 2017
1 directorSABEL Josiane
Owners3 names in the annual accounts
33.33%Annick BURHENNE and 2 others
Documentsfilings and deeds
14-08-202614 days late
2025financial year
Gross margin from €216,241 to €169,760Loss of €30,477Debts from €420,306 to €273,998Cash from €252,309 to €852,548
Key points
from the 2025 annual accountsFilings
37 annual accounts since 1989
Five of the last ten came late. The 2019 accounts came latest: 87 days after the end of the period.
Position in the sector
-€30,477
Lower net result than 82% of companies in wholesale trade. Sector median €110,270 · 6,125 companies.
Checked score
95
Excellent
Financially stronger than 60% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: 0.1%▲ +0.1 percentage points vs 07-2025highest value
09-2025: < 0.1%▼ -0.1 percentage points vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: < 0.1%▼ -0.1 percentage points vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 5.37, cash €852,548
Founded in 1989
Equity €1.3m (83.0% of total assets)
Size: 2.5 FTE, total assets €1.6m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 90% of them on solvency, 93% on liquidity, 22% on profitability and 35% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 12,322 companies had the same profile as SABELPACK has now. Each dot stands for 31 companies, two years later.
90.3%
were still trading
8.6%
stopped another way
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SABELPACK itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 12,322 companies, not a prediction for SABELPACK. 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.
Credit verdict
Credit of up to €120,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.37 (3.85 in 2024), above the usual 1.5. Short-term debt is 17% and cash 52.8% of total assets. 17% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 14 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
14 days late
2024
20 days late
2023
21 days early
2022
30 days early
2021
31 days late
2020
31 days early
2019
87 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 10 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 14 August (4 of the last 5 accounts filed within 34 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Annick BURHENNE 33.33%annual accounts 2025
- Eric BURHENNE 33.33%annual accounts 2025
- Michelle BURHENNE 33.33%annual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0437110209
3 directors reappointed
BURHENNE Michelle (managing director), BURHENNE Eric (managing director) and SABEL Josiane · General meeting of 03-07-2023 · Gazette deed
1 director appointed, 1 resignation, 2 reappointments
Resignation: jean-Pierre BURHENNE · Appointment: Josiane SABEL · Reappointments: Michelle BURHENNE (managing director) and Eric BURHENNE (managing director) · General meeting of 21-12-2022 · Gazette deed
First establishment
Rue de la Légende 18A, Sprimont
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SABELPACK Sprimont | €1.6m | €169,760 | 83.0% | 2.5 |
| Imapress Turnhout | €1.0m | €209,493 | 95.5% | 2.8 |
| DE SINJOOR Herentals | €1.2m | €219,984 | 57.9% | 3.9 |
| Peri Visual System Le Roeulx | €0.8m | €303,818 | 32.8% | 4 |
| STRIPWEB Kortrijk | €1.7m | €403,530 | 7.6% | 6.3 |
| S.T. DUPONT BENELUX Watermael-Boitsfort | €0.7m | €590,556 | -350.4% | 2 |
| Himrey Screen Bruges | €0.4m | €256,480 | 65.4% | 4 |
These companies have the same main activity as SABELPACK: wholesale trade (NACE 46491). They are comparable in size and age: total assets between €423,000 and €1.7m, founded between 1987 and 1992.
Official details
Source: KBO- Status
- Active since 28-03-1989Normal situation
- Activity
- Wholesale tradeNACE 46491and 2 others
- Joint committees
- 100Auxiliary committee for blue-collar workers
- 200Auxiliary committee for white-collar workers · annual accounts 2024
- Establishment unit
- 2.043.253.9264141 Sprimont, since 03-05-1989
- Financial year end
- 31 December
- Peppol
- Reachable since 19-08-2025
Annual accounts 2025
- ≈ €870,000estimated
- €1.6m▼ 9.9%
- Employeeson 31-12-2025
- 4=
- Filing
- Filed on 14-08-2026
Insights on SABELPACK
SABELPACK has existed since 1989. The gross margin fell from €583,074 in 2006 to €169,760 in 2025 and staff from 8 to 2.5 full-time equivalents.
The gross margin has fallen every year since 2022. Solvency rose in 2025 from 76.5% to 83.0% because of lower debts.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SABELPACK
- What is the company number of SABELPACK?
- The company number of SABELPACK is 0437.110.209. The VAT number is the same number with BE in front: BE 0437.110.209.
- Where is SABELPACK based?
- The registered office is at Rue de la Légende 18 A, 4141 Sprimont.Company details
- What does SABELPACK do?
- According to the KBO register, the main activity is wholesale trade (NACE 46491).
- What is the legal form of SABELPACK?
- SABELPACK is a public limited company (NV).
- When was SABELPACK founded?
- SABELPACK was founded on 28-03-1989.
- Is SABELPACK still active?
- Yes, SABELPACK is an active enterprise in the KBO register.
- How many employees does SABELPACK have?
- SABELPACK had an average of 2.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does SABELPACK fall under?
- In its 2024 annual accounts, SABELPACK states joint committees 100 (Auxiliary committee for blue-collar workers) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of SABELPACK?
- The turnover in financial year 2025 is ≈ €870,000. This figure is estimated from the gross margin of €169,760 and 102 comparable companies (NACE 46). It probably lies between €410,000 and €1.6m.
- Is SABELPACK profitable?
- In financial year 2025, SABELPACK made a loss of €30,477.
- Where can I find the annual accounts of SABELPACK?
- SABELPACK filed 37 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SABELPACK due?
- SABELPACK must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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