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SIBEL

Active
Public limited companyfounded 198739 years activeKalvariestraat(Mar) 2, 8510 Kortrijk, BelgiumKBO/BCE: BE 0431.614.663
Summary

SIBEL has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €504,007 and a net result of €150,989. Equity remains stable across the filed fiscal years (±2.5% per year). Its solvency ranks better than 16% of 6,033 sector peers (NACE 46, fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).

Overview

Activity
Wholesale trade
NACE 46498
3 sites
Size
€3.6mtotal assets 2025
Staff
4.2 FTE
Equity
€504,007
Profit
€150,989
Financial health
68 Healthy Checked score 2025
Bankruptcy probability, 12 months
0.7%
Structure
Parent
CATTEBEKE-DONT HOLDING · 100%
Accounts filed 25 days late1 of 9 deeds read
Why 68- Equity €504,007 (14.2% of total assets)- 1 change of registered office in 24 months+ Figures for FY 2025 (filed 25-08-2026)+ Size: 4.2 FTE, total assets €3.6mShow the evidence

Checked score

Score 2025
68 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 40% of its sector peers (NACE 46, micro)
Financial strength · tick = 2024
Weak
Solvency 39-5
equity 14.2% of total assets
Liquidity 23-1
short-term debt 63.4% · cash 5.4%
Profitability 52+10
return on assets 4.2%
Bankruptcy probability, 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%

About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (26,858 companies)
Last 24 months 11-2024: 0.4%lowest value 12-2024: 0.4%● unchanged vs 11-2024lowest value 01-2025: 0.4%● unchanged vs 12-2024lowest value 02-2025: 0.4%● unchanged vs 01-2025lowest value 03-2025: 0.4%● unchanged vs 02-2025lowest value 04-2025: 0.4%● unchanged vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.6%▲ +0.2 percentage points vs 06-2025 08-2025: 1.1%▲ +0.5 percentage points vs 07-2025 09-2025: 0.6%▼ -0.5 percentage points vs 08-2025 10-2025: 0.6%● unchanged vs 09-2025 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 1.3%▲ +0.7 percentage points vs 01-2026 03-2026: 1.3%● unchanged vs 02-2026 04-2026: 1.4%▲ +0.1 percentage points vs 03-2026 05-2026: 1.7%▲ +0.3 percentage points vs 04-2026 06-2026: 1.7%● unchanged vs 05-2026 07-2026: 1.7%● unchanged vs 06-2026 08-2026: 2.5%▲ +0.8 percentage points vs 07-2026highest value 09-2026: 0.7%▼ -1.8 percentage points vs 08-2026 10-2026: 0.7%● unchanged vs 09-2026
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.31 against 1.45 in 2024; short-term debt: 63.4% and cash: 5.4% of total assets), and 85.8% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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): better than 27% on solvency, 22% on liquidity, 40% on profitability and 72% on growth.

The bankruptcy probability was computed on 06-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
−lowers risk+raises risk○neutral
raises risk · Equity €504,007 (14.2% of total assets)
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian State Gazette
lowers risk · Figures for FY 2025 (filed 25-08-2026)
NBB · annual accounts
lowers risk · Size: 4.2 FTE, total assets €3.6m
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 6033 sector peers (2025).
NBB · sector comparison
Position among 6033 sector peers
Solvency
better than 16%
← weakest strongest →
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 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €504,007
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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 filings
Deviation from the deadline
2025
25 days late
2024
12 days late
2023
13 days early
2022
25 days early
2021
9 days early
2020
19 days early
2019
8 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed 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. Usually files around 22 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
07-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Registered office · Resignations & appointmentsRegistered-office move
  3. Highest result since 2018net €150,989 ▲76.1%

Key points

  • Positive: Result rose in 2025from €85,746 to €150,989 ▲ 76.1% View
  • Caution: Among the weakest 17% on solvencysector median 45.7% · 6,033 companies 14.2% View
  • Controlled by CATTEBEKE-DONT HOLDING 100% View

By topic

Financials

Fiscal year
2025
Total assets
€3.6m
Profit
€150,989
Solvency
14.2%
Total assets▲ 58.1%
Net result
20182025
Go to Financials

Timeline

Events
15
Since
2017
Next accounts
by 31-07-2027
  1. 31-12-2025Equity above €500,000
  2. 12-08-2025Annual accounts filed
  3. 18-07-2024Annual accounts filed
Go to Timeline

Company details

Sites
3
Legal form
Public limited company
Activity
Wholesale tradeNACE 46498
Founded
29-07-1987
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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