Checked.be
Active
BE 0420.259.824Private limited company
SHAMAS
Hoveniersstraat 30 ·2018 Antwerpen, Belgium· 46 yrs active
Sector: Wholesale of diamonds and other precious stones
(46861)
Conclusion
SHAMAS has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €246k and a net result of €7k. Equity is shrinking by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 31% of 7728 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €246k |
| Net result | €7k |
| Better than sector | 31% |
| Active | 46 yrs |
Financial profile
56
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
61
Profitability
14
Solvency
47
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1980, 46 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
61
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€15k
estimate, not credit advice
Score history
56
2022
17
2023
66
2024
61
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.34 (≥ 1.0)
+5
Quick ratio
Quick ratio 0.59 (< 0.6)
-5
Profitability
ROE 3%
+3
Interest coverage
Interest coverage 3.7× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 21-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~5.7%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 25.8% | 44.7% | |
| Net result | €7k | €31k | |
| Equity | €246k | €398k | |
| Gross operating margin | €15k | €211k | |
| Staff costs | €288 | €189k |
€12k
-80.9%
22-25
€7k
-88.9%
22-25
€7k
-87.9%
22-25
€950k
-3.7%
22-25
€246k
+2.8%
22-25
€240k
+3.2%
22-25
0
-
22-25
€288
+237.6%
22-25
€2k
+15.8%
22-25
€705k
-5.8%
22-25
€705k
-5.8%
22-25
1.34
+2.2%
22-25
0.59
+8.6%
22-25
25.8%
+6.7%
22-25
2.87
-8.3%
22-25
2.7%
-89.2%
22-25
0.7%
-88.4%
22-25
3.68
-76.5%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €12k | €65k | €-157k | €28k |
| Net profit | €7k | €60k | €-169k | €5k |
| Cash flow | €7k | €61k | €-164k | €19k |
| Staff costs | €288 | €85 | €556 | €9k |
| Income taxes | €2k | €2k | €2k | €3k |
| Dividends | - | - | - | - |
| Total assets | €950k | €987k | €1.04M | €1.45M |
| Equity | €246k | €239k | €179k | €348k |
| Debt | €705k | €748k | €865k | €1.10M |
| of which ≤ 1y | €705k | €748k | €865k | €1.10M |
| of which > 1y | - | - | - | - |
| Working capital | €240k | €233k | €172k | €336k |
| Employees (FTE) | - | - | - | 0.3 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.34 | 1.31 | 1.20 | 1.30 |
| Quick ratio | 0.59 | 0.54 | 0.54 | 0.76 |
| Working capital ratio | 25.2% | 23.6% | 16.5% | 23.2% |
| Solvency | 25.8% | 24.2% | 17.2% | 24.0% |
| Debt / equity | 2.87 | 3.13 | 4.83 | 3.16 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | 3.68 | 15.64 | -28.67 | 3.57 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 0.7% | 6.1% | -16.2% | 0.3% |
| ROE | 2.7% | 25.0% | -94.3% | 1.4% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €950k | €987k | €1.04M | €1.45M |
| Fixed assets | 21/28 | €6k | €6k | €7k | €13k |
| Tangible fixed assets | 22/27 | €0 | €710 | €2k | €7k |
| Financial fixed assets | 28 | €6k | €6k | €6k | €6k |
| Current assets | 29/58 | €945k | €980k | €1.04M | €1.44M |
| Stocks & contracts in progress | 3 | €532k | €577k | €573k | €597k |
| Amounts receivable within one year | 40/41 | €401k | €383k | €460k | €836k |
| Cash & bank | 54/58 | €8k | €7k | €1k | €527 |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €950k | €987k | €1.04M | €1.45M |
| Equity | 10/15 | €246k | €239k | €179k | €348k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €330k | €330k | €330k | €330k |
| Accumulated profits (losses) | 14 | €-103k | €-109k | €-169k | - |
| Amounts payable | 17/49 | €705k | €748k | €865k | €1.10M |
| Amounts payable within one year | 42/48 | €705k | €748k | €865k | €1.10M |
| Trade debts payable within one year | 44 | €640k | €699k | €817k | €1.06M |
| Income statement | |||||
| Gross operating margin | 9900 | €15k | €86k | €-8k | €70k |
| Operating result | 9901 | €12k | €64k | €-162k | €14k |
| Financial income | 75 | €309 | €515 | €646 | €2k |
| Financial charges | 65 | €3k | €4k | €5k | €8k |
| Result before taxes | 9903 | €9k | €61k | €-167k | €8k |
| Income taxes | 67/77 | €2k | €2k | €2k | €3k |
| Net result for the period | 9904 | €7k | €60k | €-169k | €5k |
| Result to be appropriated | 9905 | €7k | €60k | €-169k | €5k |
Legal Structure
| NACE primary | Wholesale of diamonds and other precious stones(46861) |
| Legal form | Private limited company(610) |
| Incorporation | 01-02-1980 |
| Status | Active |
| Postal code | 2018 |
Establishment units
SHAMAS BVBA
since 19812.018.525.953
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1178/00S008 | Flanders | 3,046 m² | 1 · 2,904 m² | 46.0 m · 8 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 21 days late
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €60k
Net result €60k after one loss-making year.
31-12
Financial
Equity above €200kEq €239k ▲33.3%
Equity rises from €179k to €239k.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-169k ▼3505%
Net result drops to €-169k, the lowest in the series; recovery starts the following year.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 73 days late
2021
22-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 53 days late
2020
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 42 days late
08-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 282 days late
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 143 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Wholesale of diamonds and other precious stones4686151561Other manufacturing3212136221
Names & trade names
| Legal nameNL | SHAMAS |
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