Scabal
ActiveSummary
Scabal has been active since 1946 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27.8m and a net result of -€548,721. Equity has been stable since 2019 (±0.2% per year). Its solvency ranks better than 69% of 6,172 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 18-06-1946 Normal situation
- Activity
- Wholesale trade NACE 46419and 1 other
- Establishment unit
- 2.004.498.565 1000 Brussel, since 01-06-1946
- Financial year end
- 31 December
- Peppol
- Reachable since 30-12-2025
Board and ownership
Board
- Gregor ThissenManaging director
- Etienne Van de KerckhoveDirector
- Leap Management SPRLDirector · permanent representative Stefano Rivera
- Auditor
- BMS
Shareholders
- MBI-S10%· score 542024 annual accounts of MBI-S
- Holdings
- Shares in 2 companies Scabal Brussels and WESTDEUTSCHER TUCHVERTRIEB WESTTUCH GMBH
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Turnover
- €24.4m
- ▼ 4.9%
- Loss
- €548,721
- Equity
- €27.8m
- ▼ 1.9%
- Total assets
- €44.4m
- ▼ 4.6%
- Staff
- 58.2 FTE
- ▼ 3.2%
Standalone figures, without subsidiaries
Score breakdownraises riskLiquidity: current ratio 1.70, cash €1.4m, halvedlowers riskFounded in 1946Size: turnover €24.4m, 58.2 FTE, total assets €44.4m, files consolidated accountsEquity €27.8m (62.6% of total assets)Show the evidence
Checked score
Score 2025
90
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 44% of medium-sized companies in wholesale trade (NACE 46)
Financial strength · tick: 2024
Average
Solvency
88+2
equity 62.6% of total assets
Liquidity
42-6
short-term debt 29.0% · cash 3.1%
Profitability
33-29
return on assets -1.2%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
About 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: 0.2%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged 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 03-2026lowest value
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%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Credit of up to €2,400,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.7 (2.09 in 2024), above the usual 1.5. Short-term debt is 29% and cash 3.1% of total assets. 37.4% of the assets are financed with debt and provisions.
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, medium-sized). It does better than 75% of them on solvency, 58% on liquidity, 18% on profitability and 25% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 28-05-2026, 64 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
64 days early
2024
38 days early
2023
44 days early
2022
55 days early
2021
31 days early
2020
22 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 42 days before 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 18 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format, standalone accounts
Annual accounts 2025 filed on 28-05-2026 PDF Consolidated accounts 2025 (PDF) all 52 filings
Turnover
€24.4m▼ 4.9%
2024 · €25.6m
EBIT margin
-1.1%▼ 4.7pp
2024 · 3.6%
Net result
-€548,721
2024 · €677,226
Working capital
€9.1m▼ 30.9%
2024 · €13.1m
Multi-year overview
2019 to 2025, 6 financial yearsTurnover
€24.4m
▼ 4.9%
2025
20192025
Operating result
-€272,921
2025
20192025
Net result
-€548,721
2025
lowest quarter of the sector
20192025
EBIT margin
-1.1%
▼ 4.7pp
2025
20192025
Equity
€27.8m
▼ 1.9%
2025
highest quarter of the sector
20192025
Total assets
€44.4m
▼ 4.6%
2025
highest quarter of the sector
20192025
Debt
€16.6m
▼ 8.7%
2025
20192025
Working capital
€9.1m
▼ 30.9%
2025
highest quarter of the sector
20192025
Solvency
62.6%
▲ 1.7pp
2025
middle half of the sector
20192025
Current ratio
1.70
▼ 0.38
2025
middle half of the sector
20192025
Return on assets (ROA)
-1.2%
▼ 2.7pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
58.2
▼ 3.2%
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202320242025
Turnover€24.4m-€15.6m▼ 36.2%€18.4m▲ 17.9%€27.4m-€25.6m▼ 6.5%€24.4m▼ 4.9%
Operating result€1.5m--€0.7m€2.9m€0.8m-€0.9m▲ 10.3%-€0.3m
Net result-€12.7m--€0.6mbelow the sector's middle half▲ 95.5%-€1.3mbelow the sector's middle half▼ 132%€0.8mabove the sector's middle half-€0.7mabove the sector's middle half▼ 15.4%-€0.5mbelow the sector's middle half
EBIT margin6.1%--4.4%▼ 10.4pp15.7%▲ 20.1pp3.1%-3.6%▲ 0.6pp-1.1%▼ 4.7pp
Equity€28.6m-€28.0mabove the sector's middle half▼ 2.0%€26.7mabove the sector's middle half▼ 4.7%€27.6mabove the sector's middle half-€28.3mabove the sector's middle half▲ 2.5%€27.8mabove the sector's middle half▼ 1.9%
Total assets€40.1m-€41.9mabove the sector's middle half▲ 4.4%€42.5mabove the sector's middle half▲ 1.5%€42.9mabove the sector's middle half-€46.5mabove the sector's middle half▲ 8.2%€44.4mabove the sector's middle half▼ 4.6%
Debt€5.8m-€10.6m▲ 81.8%€15.8m▲ 49.3%€15.3m-€18.2m▲ 18.7%€16.6m▼ 8.7%
Working capital€15.3m-€16.8mabove the sector's middle half▲ 10.0%€15.9mabove the sector's middle half▼ 5.6%€13.6mabove the sector's middle half-€13.1mabove the sector's middle half▼ 3.8%€9.1mabove the sector's middle half▼ 30.9%
Solvency71.2%-66.8%above the sector's middle half▼ 4.3pp62.7%above the sector's middle half▼ 4.1pp64.3%above the sector's middle half-60.9%within the sector's middle half▼ 3.4pp62.6%within the sector's middle half▲ 1.7pp
Current ratio4.45-4.05above the sector's middle half▼ 0.403.17above the sector's middle half▼ 0.882.59within the sector's middle half-2.09within the sector's middle half▼ 0.501.70within the sector's middle half▼ 0.38
Return on assets (ROA)-31.8%--1.4%below the sector's middle half▲ 30.4pp-3.1%below the sector's middle half▼ 1.7pp1.9%within the sector's middle half-1.5%within the sector's middle half▼ 0.4pp-1.2%below the sector's middle half▼ 2.7pp
Staff (FTE)82.4-71.6above the sector's middle half▼ 13.1%64.9above the sector's middle half▼ 9.4%59.5above the sector's middle half-60.1above the sector's middle half▲ 1.0%58.2above the sector's middle half▼ 3.2%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €272,921, after a profit of €925,100 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €44.4m
Fixed assets
€22.4m ▲ 5.1%
Current assets
€21.9m ▼ 12.8%
Equity and liabilities €44.4m
Equity
€27.8m ▼ 1.9%
Debt
€16.6m ▼ 8.7%
Debt's share of the balance-sheet total falls from 39.1% to 37.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€526,538▼
2024 · €1.6m
Cash flow
€250,738▼
2024 · €1.3m
Quick ratio
1.16▼
2024 · 1.45
Debt to equity
0.60▼
2024 · 0.64
ROE
-2.0%▼
2024 · 2.4%
Interest coverage
2.25▼
2024 · 6.07
Debt ≤ 1 year
€12.9m▲
2024 · €12.1m
Debt > 1 year
€3.7m▼
2024 · €6.1m
Income taxes
€16,927▼
2024 · €84,356
Customer credit
123 days▼
2024 · 126 days
Supplier credit
139 days▲
2024 · 135 days
Staff costs
€5.2m▲
2024 · €4.9m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €9.3m | €9.6m | €9.5m | €7.1m |
| Guarantees given for others' debts | €423,507 | €233,557 | €233,557 | €48,759 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €10,829 | €1.2m | €1.2m | €1.2m |
| Intangible fixed assets | €189,876 | €43,713 | €54,968 | - |
| Financial fixed assets | - | - | - | €708,014 |
| Depreciation and write-downs of the year | €626,586 | €611,179 | €643,550 | €799,459 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is BMS.
| Item | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fee for the audit | €8,650 | €17,360 | €9,200 | €10,200 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €19.7m | €29.3m | €27.0m | €25.1m | ▼ 7.1% |
| Turnover70 | €24.4m | €15.6m | €18.4m | €27.4m | €25.6m | €24.4m | ▼ 4.9% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | -€0.2m | €0.1m | €0.3m | -€0.06m | - |
| Other operating income74 | - | - | €1.4m | €1.7m | €0.8m | €0.7m | ▼ 12.1% |
| Non-recurring operating income76A | - | - | €0.002m | €0.002m | €0.3m | €0.04m | ▼ 86.5% |
| Operating charges60/66A | - | - | €16.8m | €28.4m | €26.1m | €25.4m | ▼ 2.7% |
| Goods for resale, raw materials and consumables60 | - | - | €9.1m | €14.5m | €14.0m | €12.1m | ▼ 13.3% |
| Change in stocks: decrease (increase)609 | - | - | €1.1m | -€3.0m | €1.8m | €0.9m | ▼ 46.7% |
| Services and other goods61 | - | - | €5.6m | €7.1m | €6.9m | €7.2m | ▲ 3.7% |
| Remuneration, social security and pensions62 | - | - | €4.4m | €5.4m | €4.9m | €5.2m | ▲ 6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.8m | ▲ 24.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €0.1m | €0.8m | -€0.6m | -€0.2m | ▲ 71.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | -€3.3m | - | - | - | - |
| Other operating charges640/8 | - | - | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 11.1% |
| Non-recurring operating charges66A | - | - | - | €0.006m | €0.008m | €296 | ▼ 96.3% |
| Operating profit (loss)9901 | €1.5m | -€0.7m | €2.9m | €0.8m | €0.9m | -€0.3m | - |
| Recurring financial income75 | €0.9m | €0.9m | €0.4m | €0.4m | €0.3m | €0.1m | ▼ 50.3% |
| Income from financial fixed assets750 | - | - | €0.05m | €0.07m | €0.1m | €0.08m | ▼ 19.6% |
| Income from current assets751 | - | - | €464 | €0.04m | €0.1m | €0.04m | ▼ 72.7% |
| Other financial income752/9 | - | - | €0.4m | €0.3m | €0.01m | €0.008m | ▼ 32.2% |
| Non-recurring financial income76B | - | - | €3.5m | - | - | - | - |
| Financial charges65/66B | - | - | €8.2m | €0.4m | €0.4m | €0.4m | ▼ 7.6% |
| Recurring financial charges65 | €0.2m | €0.4m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 7.6% |
| Debt charges650 | €0.04m | €0.1m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 9.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | -€0.08m | -€0.04m | €0.02m | - |
| Other financial charges652/9 | - | - | €0.09m | €0.3m | €0.2m | €0.1m | ▼ 36.2% |
| Non-recurring financial charges66B | - | - | €7.9m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€12.7m | -€0.6m | -€1.3m | €0.8m | €0.8m | -€0.5m | - |
| Income taxes67/77 | €0.08m | -€0.02m | €0.004m | €0.009m | €0.08m | €0.02m | ▼ 79.9% |
| Taxes670/3 | - | - | €0.004m | €0.009m | €0.08m | €0.02m | ▼ 79.9% |
| Profit (loss) for the period9904 | -€12.7m | -€0.6m | -€1.3m | €0.8m | €0.7m | -€0.5m | - |
| Profit (loss) for the period to be appropriated9905 | -€12.7m | -€0.6m | -€1.3m | €0.8m | €0.7m | -€0.5m | - |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €40.1m | €41.9m | €42.5m | €42.9m | €46.5m | €44.4m | ▼ 4.6% |
| Fixed assets21/28 | €20.4m | €19.5m | €19.3m | €20.8m | €21.3m | €22.4m | ▲ 5.1% |
| Intangible fixed assets21 | €0.4m | €0.3m | €0.4m | €0.4m | €0.9m | €1.1m | ▲ 27.3% |
| Tangible fixed assets22/27 | €7.0m | €6.5m | €6.1m | €6.5m | €6.5m | €6.7m | ▲ 2.0% |
| Land and buildings22 | - | - | €5.5m | €4.9m | €4.6m | €4.3m | ▼ 6.6% |
| Plant, machinery and equipment23 | - | - | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 95.1% |
| Furniture and vehicles24 | - | - | €0.2m | €0.1m | €0.09m | €0.08m | ▼ 3.7% |
| Assets under construction and advance payments27 | - | - | - | €1.3m | €1.7m | €1.9m | ▲ 16.6% |
| Financial fixed assets28 | €13.0m | €12.7m | €12.8m | €13.9m | €13.9m | €14.6m | ▲ 5.2% |
| Affiliated companies280/1 | - | - | €11.2m | €12.2m | €12.2m | €12.9m | ▲ 5.8% |
| Participating interests280 | - | - | €10.7m | €10.7m | €10.7m | €11.4m | ▲ 6.6% |
| Amounts receivable281 | - | - | €0.5m | €1.6m | €1.6m | €1.6m | = |
| Other financial fixed assets284/8 | - | - | €1.7m | €1.7m | €1.7m | €1.7m | ▲ 0.6% |
| Shares284 | - | - | €1.7m | €1.7m | €1.7m | €1.7m | = |
| Amounts receivable and cash guarantees285/8 | - | - | €0.004m | €0.003m | €0.003m | €0.01m | ▲ 331% |
| Current assets29/58 | €19.7m | €22.4m | €23.2m | €22.2m | €25.2m | €21.9m | ▼ 12.8% |
| Stocks and contracts in progress3 | €6.8m | €6.5m | €5.5m | €8.6m | €7.7m | €6.9m | ▼ 9.2% |
| Stocks30/36 | - | - | €5.5m | €8.6m | €7.7m | €6.9m | ▼ 9.2% |
| Raw materials and consumables30/31 | - | - | €0.07m | €0.1m | €0.09m | €0.1m | ▲ 10.0% |
| Work in progress32 | - | - | €0.02m | €0.2m | €0.3m | €0.2m | ▼ 18.6% |
| Finished goods33 | - | - | €0.2m | €0.1m | €0.3m | €0.3m | ▼ 1.6% |
| Goods purchased for resale34 | - | - | €5.3m | €8.2m | €7.0m | €6.3m | ▼ 9.4% |
| Amounts receivable within one year40/41 | €8.4m | €9.1m | €10.2m | €10.2m | €11.5m | €10.5m | ▼ 8.2% |
| Trade receivables40 | - | - | €9.0m | €8.7m | €8.8m | €8.2m | ▼ 7.0% |
| Other amounts receivable41 | - | - | €1.2m | €1.5m | €2.7m | €2.3m | ▼ 12.1% |
| Current investments50/53 | €3.0m | €3.5m | €3.5m | €2.8m | €3.0m | €2.9m | ▼ 1.7% |
| Other investments51/53 | - | - | €3.5m | €2.8m | €3.0m | €2.9m | ▼ 1.7% |
| Cash at bank and in hand54/58 | €1.2m | €3.1m | €3.8m | €0.4m | €2.9m | €1.4m | ▼ 53.1% |
| Deferred charges and accrued income490/1 | - | - | €0.2m | €0.2m | €0.1m | €0.1m | ▲ 24.9% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €40.1m | €41.9m | €42.5m | €42.9m | €46.5m | €44.4m | ▼ 4.6% |
| Equity10/15 | €28.6m | €28.0m | €26.7m | €27.6m | €28.3m | €27.8m | ▼ 1.9% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €35.5m | €35.5m | €35.5m | €35.5m | €35.5m | €35.5m | = |
| Non-distributable reserves130/1 | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | €35.5m | €35.5m | €35.5m | €35.5m | = |
| Profit (loss) carried forward14 | -€7.1m | -€7.7m | -€9.0m | -€8.0m | -€7.3m | -€7.9m | ▼ 7.5% |
| Provisions and deferred taxes16 | €5.7m | €3.3m | - | - | - | - | - |
| Amounts payable17/49 | €5.8m | €10.6m | €15.8m | €15.3m | €18.2m | €16.6m | ▼ 8.7% |
| Amounts payable after more than one year17 | €1.2m | €5.0m | €8.5m | €6.5m | €6.1m | €3.7m | ▼ 39.3% |
| Financial debts170/4 | - | - | €8.5m | €6.5m | €6.1m | €3.7m | ▼ 39.3% |
| Credit institutions173 | - | - | €8.5m | €6.5m | €6.1m | €3.7m | ▼ 39.3% |
| Amounts payable within one year42/48 | €4.4m | €5.5m | €7.3m | €8.6m | €12.1m | €12.9m | ▲ 6.8% |
| Current portion of amounts payable after more than one year42 | - | - | €0.8m | €1.5m | €1.9m | €1.9m | ▲ 2.9% |
| Financial debts43 | - | - | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Credit institutions430/8 | - | - | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Trade debts44 | €1.8m | €2.7m | €1.8m | €2.5m | €5.2m | €4.6m | ▼ 10.8% |
| Suppliers440/4 | - | - | €1.8m | €2.5m | €5.2m | €4.6m | ▼ 10.8% |
| Taxes, remuneration and social security45 | - | - | €0.9m | €1.1m | €1.0m | €1.0m | ▲ 0.1% |
| Taxes450/3 | - | - | €0.09m | €0.2m | €0.3m | €0.2m | ▼ 34.1% |
| Remuneration and social security454/9 | - | - | €0.8m | €0.9m | €0.7m | €0.8m | ▲ 12.2% |
| Other amounts payable47/48 | - | - | €2.3m | €2.0m | €2.5m | €3.9m | ▲ 52.0% |
| Accrued charges and deferred income492/3 | - | - | €0.02m | €0.2m | €0.03m | €0.02m | ▼ 14.3% |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12.7m | -€0.6m | -€1.3m | €0.8m | €0.7m | -€0.5m | - |
| + Depreciation and write-downs630 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.8m | ▲ 24.2% |
| Operating cash flow (approximation) | -€12.1m | €0.05m | -€0.7m | €1.4m | €1.3m | €0.3m | ▼ 81.0% |
| Investment in fixed assets (approximation) | - | €0.2m | -€0.4m | - | -€1.2m | -€1.9m | ▼ 54.5% |
| Change in cash | - | €1.9m | €0.7m | - | €2.5m | -€1.5m | - |
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, 830 companies had the same profile as Scabal has now. Two years later, 96.5% were still going and 0.6% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
96.5%
was still going
2.9%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of Scabal itself: 0.1% 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 830 companies, not a prediction for Scabal. 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 52 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | consolidated | 28-05-2026 | 2026-00126303 | |
| 31-12-2025 | full format | 28-05-2026 | 2026-00126648 | |
| 31-12-2024 | full format | 27-06-2025 | 2025-00208901 | |
| 31-12-2024 | consolidated | 23-06-2025 | 2025-00176763 | |
| 31-12-2023 | consolidated | 17-06-2024 | 2024-00135057 | |
| 31-12-2023 | full format | 17-06-2024 | 2024-00135398 | |
| 31-12-2022 | consolidated | 07-06-2023 | 2023-00114087 | |
| 31-12-2022 | full format | 06-06-2023 | 2023-00115569 | |
| 31-12-2021 | full format | 30-06-2022 | 2022-20151037 | |
| 31-12-2020 | full format | 09-07-2021 | 2021-34000209 |
Board & ownership
Directors
Directors
3 directors, 1 in day-to-day management, last change in 2026
Board 3
Etienne Van de Kerckhove
Current
Director · in office according to the act of 23-08-2024
Leap Management SPRL
Current
Director · appointed in the act of 23-08-2024 · Legal entity · permanent representative: Stefano Rivera
Gérardin Catherine
Current
Director · appointed in the act of 04-08-2026 · 4-year term from 2026
Day-to-day management 1
Gregor Thissen
Current
Managing director · in office according to the act of 23-08-2024
Permanent representatives 1
Stefano Rivera
Current
Permanent representative · appointed in the act of 23-08-2024 · for Leap Management SPRL
Statutory auditor 1
BMS
Current
Commissaire reviseur · appointed in the act of 23-08-2024 · permanent representative: Paul Moreau
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Two directors jointly
deed of 07-01-2022Owners and capital
Shareholders
1 ownerOwners 1
- Sourceaccounts MBI-S 2024Equity €249,438 Loss of €107 in 2024 (loss of €455 in 2023) Checked score 5410%
Capital transactions
Capital over time
- 07-01-2022 Capital stated in the deed · €125,000 · 2,000 shares
Mandate history
7 people, 5 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Etienne Van de Kerckhove |
|
| Leap Management SPRL |
|
| Gérardin Catherine |
|
| Gregor Thissen |
|
| BMS |
|
| Hannelore Naudieth |
|
| Michael Day |
|
Network & group
Heads the group
Scabal
3 companies
Group, risk and exposure
Holdings and subsidiaries
2 holdingsHoldings 2
- Scabal BrusselssubsidiarySourceLEI registerEquity -€658,462 Loss of €118,055 in 2025 (profit of €15,495 in 2024) Checked score 34consolidated
- WESTDEUTSCHER TUCHVERTRIEB WESTTUCH GMBHDEsubsidiarySourceLEI registerconsolidated
Connections & network
3 current directorsThe network starts from the directors of Scabal. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
04-08
Gazette deed
Appointments: Gérardin Catherine (director) and Gregor Thissen (managing director)3 points ▸
Gazette deed
Appointments: Gérardin Catherine (director) and Gregor Thissen (managing director)
3 points ▸
- General meeting, 16-04-2026
- Director appointment, Gérardin Catherine (director)
- Director appointment, Gregor Thissen (managing director)
15-06
Gazette deed
Resignations: Michael Day (director) and Hannelore Naudieth (director)4 points ▸
Gazette deed
Resignations: Michael Day (director) and Hannelore Naudieth (director)
4 points ▸
- General meeting, 30-05-2025
- Director resignation, Michael Day (director)
- Director resignation, Hannelore Naudieth (director)
- Other provision, “assemblée générale des actionnaires 2028, renouvellement du mandat du comissaire reviseur” (deed in French)
28-05
64 days before the deadline
28-05
full format
2025
2024
23-08
Gazette deed
1 director appointed, 4 reappointedReappointments: Gregor Thissen, Michael Day and 3 others · Appointment: Leap Management SPRL (director) · Permanent representative: Stefano Rivera14 points ▸
Gazette deed
1 director appointed, 4 reappointed
Reappointments: Gregor Thissen, Michael Day and 3 others · Appointment: Leap Management SPRL (director) · Permanent representative: Stefano Rivera14 points ▸
- General meeting, 21-05-2024
- General meeting, 03-06-2022
- Director reappointment, Gregor Thissen (managing director)
- Director reappointment, Michael Day (director)
- Director reappointment, Hannelore Naudieth (director)
- Director reappointment, Etienne Van de Kerckhove (director)
- Director appointment, Leap Management SPRL (director)
- Permanent representative, Stefano Rivera (representative)
- Board composition, Gregor Thissen (managing director)
- Board composition, Michael Day (director)
- Board composition, Hannelore Naudieth (director)
- Board composition, Etienne Van de Kerckhove (director)
- The act holds 2 more points.
17-06
44 days before the deadline
17-06
full format
2023
Show earlier events
2022
30-06
full format · 31 days before the deadline
07-01
Gazette deed
Amendment of the articlesPower of attorney · Registered office clause · Incorporation9 points ▸
Gazette deed
Amendment of the articles
Power of attorney · Registered office clause · Incorporation9 points ▸
- Power of attorney, Jean Van de Putte
- Registered office clause, “Bruxelles, Rue du Chantier 5” (deed in French)
- Other provision, “corporate@scabal.com, website and email” (deed in French)
- General meeting, 12:16, “assemblée” (deed in French)
- General meeting, 16-12-2021
- Amendment of the articles, mentioned 2 times in the deed
- Incorporation, 18-06-1946
- Merger, “fusionparabsorption”, 31-01-2011 (deed in French)
- Capital, €125,000
2021
09-07
full format · 22 days before the deadline
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Scabal in French
Enterprise number
0400.522.797
LEI code
549300CNGYABZZ6GOI25
live in the LEI register
Legal form
Public limited company
Status
Active, normale toestand
Founded
18-06-1946
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 07-01-2022 (in French)Registered office and establishments
Registered office
Werfstraat 5, 1000 Brussel, Belgium
Establishment unit
Werfstraat 5, 1000 Brussel since 01-06-1946 · unit number 2.004.498.56546411 Wholesale trade
Website
www.scabal.com
E-mail
corporate@scabal.com
Activities
NACEBEL 2025VAT activities
46419
Wholesale trade main activity
Social security (RSZ) activities
46411
Wholesale trade main activity
Codes under NACEBEL 2008
VAT activities
46419
Wholesale trade main activity
Social security (RSZ) activities
46411
Wholesale trade main activity
Codes under NACEBEL 2003
VAT activities
51410
main activity
Social security (RSZ) activities
51410
main activity
Invoicing and payment
VAT number
BE 0400.522.797
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Notices of general meetings
Extraordinary general meeting
Agenda
de l’assemblée générale extraordinaire des action- naires est le suivant : I. Documents mis gratuitement à la disposition des actionnaires : a) Conformément à l’article 720 , § 1er , du Code des sociétés : Le projet de fusion dressé conformément à l’article 719 du Code des sociétés, déposé aux fins de publication le dix-sept juin deux mille huit au Greffe du Tribunal de Commerce de Bruxelles et publié aux annexes du Moniteur belge du vingt-six juin deux mille huit sous le numéro 08094241. b) Conformément à l’article 720, §§ 2-3, du Code des sociétés : - les comptes annuels des trois derniers exercices de chacune des sociétés qui fusionnent, et - les rapports des administrateurs et les rappor ...
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Monday of May at 09:00
deed of 07-01-2022 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
2,113 m²
Building footprint
2,077 m²
Building volume
37,858 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21812N1415/00D000 | Brussels | 2,113 m² | 1 · 2,077 m² | 23.8 m · 6 |