SBMA
ActiveSummary
SBMA has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145,376 and a net result of €32,969. Equity is shrinking by ~5.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-1
Solvency56▲+6
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 1.97 against 1.57 in 2024; short-term debt: 18.8% and cash: 14.6% of total assets), but 69.3% of the assets are financed with debt.
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Signals
Five 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
30.7%
Return on assets
7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €145,376
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
30 d late
2023
29 d late
2022
28 d late
2021
30 d late
2020
30 d late
2019
53 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 33 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€145,376▲ 29.3%
2024 · €112,407
Total assets
€473,350▲ 4.1%
2024 · €454,673
Net result
€32,969▼ 0.8%
2024 · €33,251
Working capital
€85,832▲ 76.6%
2024 · €48,602
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€16,235▼ 33.2%€28,216▲ 73.8%€15,194▼ 46.2%€62,328▲ 310%€58,372▼ 6.3%
Net result€13,085▲ 4.0%€17,823▲ 36.2%€2,901▼ 83.7%€33,251▲ 1,046%€32,969▼ 0.8%
Equity€103,531▼ 49.6%€106,254▲ 2.6%€109,156▲ 2.7%€112,407▲ 3.0%€145,376▲ 29.3%
Total assets€141,447▼ 47.9%€148,556▲ 5.0%€411,418▲ 177%€454,673▲ 10.5%€473,350▲ 4.1%
Debt€37,916▼ 42.4%€42,302▲ 11.6%€302,263▲ 615%€342,266▲ 13.2%€327,975▼ 4.2%
Working capital€77,700▼ 55.8%€69,009▼ 11.2%€51,973▼ 24.7%€48,602▼ 6.5%€85,832▲ 76.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €473,350
Fixed assets
€298,603 ▼ 6.8%
Current assets
€174,747 ▲ 30.3%
Equity and liabilities €473,350
Equity
€145,376 ▲ 29.3%
Debt
€327,975 ▼ 4.2%
Debt's share of the balance-sheet total falls from 75.3% to 69.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€82,137▼
2024 · €82,198
Cash flow
€56,733▲
2024 · €53,121
Current ratio
1.97▲
2024 · 1.57
Debt to equity
2.26▼
2024 · 3.04
ROE
22.7%▼
2024 · 29.6%
ROA
7.0%▼
2024 · 7.3%
Interest coverage
6.60▲
2024 · 6.47
Debt ≤ 1 year
€88,916▲
2024 · €85,559
Debt > 1 year
€239,059▼
2024 · €256,707
Income taxes
€14,979▼
2024 · €16,371
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 17,792 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 | - | €9,091 | €6,546 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,863 | €12,136 | €12,554 | €19,870 | €23,764 | ▲ 19.6% |
| Other operating charges640/8 | €1,532 | €1,611 | €33,503 | €1,529 | €1,686 | ▲ 10.2% |
| Gross operating margin9900 | €28,630 | €41,963 | €61,251 | €83,727 | €83,822 | ▲ 0.1% |
| Operating profit (loss)9901 | €16,235 | €28,216 | €15,194 | €62,328 | €58,372 | ▼ 6.3% |
| Financial income75/76B | €6,175 | - | €0 | - | €2,027 | - |
| Recurring financial income75 | €6,175 | - | €0 | - | €2,027 | - |
| Non-recurring financial income76B | €6,175 | - | - | - | €2,027 | - |
| Financial charges65/66B | €2,498 | €1,929 | €9,584 | €12,707 | €12,452 | ▼ 2.0% |
| Recurring financial charges65 | €2,498 | €1,929 | €9,584 | €12,707 | €12,452 | ▼ 2.0% |
| Profit (loss) for the period before taxes9903 | €19,912 | €26,287 | €5,611 | €49,622 | €47,948 | ▼ 3.4% |
| Income taxes67/77 | €6,827 | €8,464 | €2,709 | €16,371 | €14,979 | ▼ 8.5% |
| Profit (loss) for the period9904 | €13,085 | €17,823 | €2,901 | €33,251 | €32,969 | ▼ 0.8% |
| Profit (loss) for the period to be appropriated9905 | €13,085 | €17,823 | €2,901 | €33,251 | €32,969 | ▼ 0.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €141,447 | €148,556 | €411,418 | €454,673 | €473,350 | ▲ 4.1% |
| Fixed assets21/28 | €25,831 | €37,246 | €290,423 | €320,512 | €298,603 | ▼ 6.8% |
| Tangible fixed assets22/27 | €22,556 | €33,971 | €287,148 | €317,237 | €295,363 | ▼ 6.9% |
| Land and buildings22 | €15,822 | €8,454 | €269,126 | €258,816 | €250,004 | ▼ 3.4% |
| Plant, machinery and equipment23 | - | - | - | €1,435 | €1,123 | ▼ 21.7% |
| Furniture and vehicles24 | €6,567 | €11,032 | €8,254 | €49,302 | €36,844 | ▼ 25.3% |
| Other tangible fixed assets26 | €168 | €14,485 | €9,769 | €7,685 | €7,393 | ▼ 3.8% |
| Financial fixed assets28 | €3,275 | €3,275 | €3,275 | €3,275 | €3,240 | ▼ 1.1% |
| Current assets29/58 | €115,616 | €111,310 | €120,995 | €134,160 | €174,747 | ▲ 30.3% |
| Amounts receivable within one year40/41 | €10,160 | €32,520 | €87,875 | €19,066 | €104,225 | ▲ 447% |
| Trade receivables40 | €10,160 | €29,520 | €84,803 | €14,277 | €99,414 | ▲ 596% |
| Other amounts receivable41 | - | €3,000 | €3,073 | €4,789 | €4,811 | ▲ 0.5% |
| Cash at bank and in hand54/58 | €104,676 | €78,057 | €32,384 | €113,895 | €68,937 | ▼ 39.5% |
| Deferred charges and accrued income490/1 | €780 | €733 | €736 | €1,199 | €1,586 | ▲ 32.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €141,447 | €148,556 | €411,418 | €454,673 | €473,350 | ▲ 4.1% |
| Equity10/15 | €103,531 | €106,254 | €109,156 | €112,407 | €145,376 | ▲ 29.3% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €97,331 | €87,654 | €90,556 | €93,807 | €126,776 | ▲ 35.1% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €95,471 | €85,794 | €90,556 | €93,807 | €126,776 | ▲ 35.1% |
| Amounts payable17/49 | €37,916 | €42,302 | €302,263 | €342,266 | €327,975 | ▼ 4.2% |
| Amounts payable after more than one year17 | - | - | €233,241 | €256,707 | €239,059 | ▼ 6.9% |
| Financial debts170/4 | - | - | €233,241 | €256,707 | €239,059 | ▼ 6.9% |
| Amounts payable within one year42/48 | €37,916 | €42,302 | €69,022 | €85,559 | €88,916 | ▲ 3.9% |
| Current portion of amounts payable after more than one year42 | - | - | €8,368 | €16,980 | €17,648 | ▲ 3.9% |
| Trade debts44 | €1,494 | €4,435 | €17,209 | €5,466 | €39,208 | ▲ 617% |
| Suppliers440/4 | €1,494 | €4,435 | €17,209 | €5,466 | €39,208 | ▲ 617% |
| Taxes, remuneration and social security45 | €18,597 | €20,966 | €24,871 | €16,162 | €13,232 | ▼ 18.1% |
| Taxes450/3 | €18,597 | €20,966 | €24,871 | €16,162 | €13,232 | ▼ 18.1% |
| Other amounts payable47/48 | €17,825 | €16,901 | €18,574 | €46,951 | €18,828 | ▼ 59.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,085 | €17,823 | €2,901 | €33,251 | €32,969 | ▼ 0.8% |
| + Depreciation and write-downs630 | €10,863 | €12,136 | €12,554 | €19,870 | €23,764 | ▲ 19.6% |
| Operating cash flow (approximation) | €23,948 | €29,959 | €15,456 | €53,121 | €56,733 | ▲ 6.8% |
| Investment in fixed assets (approximation) | - | -€23,550 | -€265,732 | -€49,959 | -€1,855 | ▲ 96.3% |
| Change in cash | - | -€26,619 | -€45,673 | €81,511 | -€44,959 | ▼ 155% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2018net €33,251 ▲1,046%
Operating result €62,328, net result €33,251, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Equity above €200,000Eq €205,541 ▲6.5%
3 profitable years in a row build equity to €205,541.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
12-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 409 days late
2019
31-12
Financial
Weakest financial yearnet €2,812 ▼44.9%
Net result drops to €2,812, the lowest in the series; recovery starts the following year.
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 10 days late
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Herk-de-Stad · 1 establishment unit since 2008
Ground area
599 m²
Building footprint
168 m²
Parcel 71024D0330/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
SBMA
since 20082.171.236.023
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71024D0330/00H000 | Flanders | 599 m² | 1 · 168 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
12.37%
According to the 2025 annual accounts of SBMA and those 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded21-05-2008
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68204Real estate activities
85510Sports and recreation education
85592Vocational training
E-invoicing
Reachable via Peppol
Peppol ID
0208:0898107756
Registered
20-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.