SABMA
ActiveSABMA has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-576k) and a net result of €-214k. Equity is shrinking by ~43.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 4822 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
7
/ 100
Critical▼ -21 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency34▼-8
Growth32=
Stability100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.51 against 0.87 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Eight 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
-83.3%
Return on assets
-31%
Age of the figures
8 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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€576k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
35 d early
2023
2 d early
2022
48 d early
2021
31 d early
2020
11 d early
2019
37 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-214k▼ 121%
2024 · €-97k
2018: €47k
2019: €62k
2020: €35k
2021: €-91k
2022: €-334k
2023: €-267k
2024: €-97k
2018 → 2025
Working capital
€-246k▼ 241%
2024 · €-72k
2018: €625k
2019: €657k
2020: €578k
2021: €513k
2022: €210k
2023: €117k
2024: €-72k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€388k-€52k▼ 86.7%€-218k€-318k▼ 45.6%€-576k▼ 81.2%
Operating result€-56k-€-302k▼ 440%€-214k▲ 29.3%€-23k▲ 89.2%€-233k▼ 906%
Net result€-91k-€-334k▼ 268%€-267k▲ 20.0%€-97k▲ 63.8%€-214k▼ 121%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €233k in 2025 against €23k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €691k
Fixed assets
€434k▼ 24.3%
Current assets
€257k▼ 46.0%
Key figures and ratios
EBITDA
€-101k▼
2024 · €120k
Cash flow
€-82k▼
2024 · €46k
Solvency
-83.3%▼
2024 · -30.3%
Current ratio
0.51▼
2024 · 0.87
Quick ratio
0.26▼
2024 · 0.58
Debt / equity
-2.20▲
2024 · -4.30
ROE
37.2%▲
2024 · 30.5%
ROA
-31.0%▼
2024 · -9.2%
Interest coverage
-3.67▼
2024 · 1.56
Debt
€1.27M▼
2024 · €1.37M
Debt ≤ 1 year
€502k▼
2024 · €547k
Debt > 1 year
€762k▼
2024 · €817k
Income taxes
€141▲
2024 · €140
Staff costs
€36k▼
2024 · €140k
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€1.05M€691k▼
Fixed assets21/28€574k€434k▼
Tangible fixed assets22/27€573k€434k▼
Land and buildings22€508k€416k▼
Plant, machinery and equipment23€17k€6k▼
Furniture and vehicles24€47k€11k▼
Financial fixed assets28€500€500=
Current assets29/58€475k€257k▼
Stocks and contracts in progress3€157k€125k▼
Stocks30/36€157k€125k▼
Amounts receivable within one year40/41€266k€126k▼
Trade receivables40€246k€100k▼
Other amounts receivable41€20k€27k▲
Cash at bank and in hand54/58€614€4k▲
Deferred charges and accrued income490/1€51k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.05M€691k▼
Equity10/15€-318k€-576k▼
Contributions10/11€23k€23k=
Reserves13€202k€202k=
Non-distributable reserves130/1€200k€200k=
Other1319€200k€200k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-586k€-800k▼
Investment grants15€44k-
Amounts payable17/49€1.37M€1.27M▼
Amounts payable after more than one year17€817k€762k▼
Financial debts170/4€817k€762k▼
Amounts payable within one year42/48€547k€502k▼
Current portion of amounts payable after more than one year42€59k€55k▼
Financial debts43€106k€100k▼
Credit institutions430/8€106k€100k▼
Trade debts44€186k€52k▼
Suppliers440/4€186k€52k▼
Taxes, remuneration and social security45€21k€3k▼
Taxes450/3€2k€336▼
Remuneration and social security454/9€19k€3k▼
Other amounts payable47/48€176k€292k▲
Accrued charges and deferred income492/3€2k€2k▼
Income statement
Code20242025
Non-recurring operating income76A€196k€5k▼
Remuneration, social security and pensions62€140k€36k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€143k€132k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-50k-
Other operating charges640/8€16k€14k▼
Non-recurring operating charges66A€126€4k▲
Gross operating margin9900€226k€-47k▼
Operating profit (loss)9901€-23k€-233k▼
Financial income75/76B€3k€46k▲
Recurring financial income75€3k€46k▲
Financial charges65/66B€77k€27k▼
Recurring financial charges65€77k€27k▼
Profit (loss) for the period before taxes9903€-97k€-214k▼
Income taxes67/77€140€141▲
Profit (loss) for the period9904€-97k€-214k▼
Profit (loss) for the period to be appropriated9905€-97k€-214k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-586k€-800k▼
Profit (loss) brought forward from the previous period14P€-490k€-586k▼
Social balance
Average headcount (FTE)90872.30.8▼
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-334k
Net result drops to €-334k, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €62k ▲30.5%
Operating result €95k, net result €62k, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
05-04
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
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Welkenraedt · 1 establishment unit since 1993
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 J.F. Kennedy 34840 WelkenraedtGround area
754 m²
Building footprint
145 m²
Volume, LiDAR
841 m³
Parcel 63084A0110/00W002, Wallonia · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue J.F. Kennedy 3, 4840 Welkenraedt
since 19932.061.340.565
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63084A0110/00W002 | Wallonia | 754 m² | 1 · 145 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 579 companies in sector 46496 we hold annual accounts for 380. 238 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-03-1993
Fiscal year end31-12
Activities, NACEBEL
46496Wholesale trade
46499Wholesale of other household goods
51476
51478
46190Agents in non-specialised wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.