Skip to content

SIBELGA

Active
Coöperatieve vennootschap van publiek rechtfounded 1982active for 44 yearsWerkhuizenkaai 16, 1000 Brussel, BelgiumKBO/BCE: BE 0222.869.673
Summary

SIBELGA has been active since 1982 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €861.4m and a net result of €55.0m. Equity remains stable across the filed financial years (±0.1% per year). Its solvency ranks better than 75% of 346 sector peers (NACE 35, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Overview

Activity
Production of electricity from non-renewable sources
NACE 35110
2nd oldest company in Brussels, Energy sector
Size
€396.7mturnover 2025
Equity
€861.4m
Profit
€55.0m
Financial health
86 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Structure
Parent
INTERFIN · 99.99%
Board
33 members
Holdings
2
Auditor: Ernst et Young Reviseurs d'EntreprisesAccounts 22 days early120 of 131 deeds read
Why 86raises riskLiquidity: current ratio 0.96, cash €342,093No registered site in the KBOlowers riskFounded in 1982Size: turnover €396.7m, total assets €1.52bnShow the evidence

Checked score

Score 2025
86 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 58% of its sector peers (NACE 35, large)
Financial strength · tick = 2024
Strong
Solvency 82=
equity 56.9% of total assets
Liquidity 50+1
short-term debt 9.4% · cash 0.0%
Profitability 82=
return on assets 3.6%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (54 companies, NACE 35, large)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025lowest value 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025 07-2025: 0.3%▲ +0.1 percentage points vs 06-2025 08-2025: 0.4%▲ +0.1 percentage points vs 07-2025 09-2025: 0.4%● unchanged vs 08-2025 10-2025: 0.4%● unchanged vs 09-2025 11-2025: 0.4%● unchanged vs 10-2025 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.3%▼ -0.1 percentage points vs 01-2026 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.4%▲ +0.1 percentage points vs 03-2026 05-2026: 0.4%● unchanged vs 04-2026 06-2026: 0.4%● unchanged vs 05-2026 07-2026: 0.4%● unchanged vs 06-2026highest value 08-2026: 0.3%▼ -0.1 percentage points vs 07-2026 09-2026: 0.3%● unchanged vs 08-2026 10-2026: 0.3%● unchanged vs 09-2026
Credit of up to €39,650,000 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.96, compared with 1.07 in 2024, below 1; short-term debt: 9.4% and cash: 0% of total assets), and 43.1% of the assets are financed with debt and provisions.
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 35, large): better than 80% on solvency, 39% on liquidity, 81% on profitability and 33% on growth.

The bankruptcy probability was computed on 17-10-2026 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).

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 0.96, cash €342,093
NBB · annual accounts
lowers risk · Founded in 1982
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Size: turnover €396.7m, total assets €1.52bn
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · No registered site in the KBO
KBO · seat and establishments
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 09-07-2026, 22 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
22 days early
2024
27 days early
2023
6 days early
2022
33 days early
2021
34 days early
2020
32 days early
2019
28 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 26 days before the deadline; the sector median (NACE 35) for financial year 2024 is 22 days before the deadline, and 27% 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 4 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
17-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignations: Audrey HENRY (director) and Karine…Appointments: Martin DE BRABANT (director)…
  2. Appointment: Audrey HENRY (bestuurster)Resignation: Audrey HENRY (bestuurster)
  3. Resignations & appointmentsPower of attorney

Key points

  • Positive: Among the best 5% on net resultsector median €172,073 · 345 companies €55.0m View
  • Board changedlatest change 06-08-2026 · 33 in office 29 joined · 20 left View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Positive: 8 profitable years in a rowprofit 2025: €55.0m 8 years View
  • Controlled by INTERFINknown shareholders 100% 99.99% View
  • EU supportawarded in 2025 €65,000 View

By topic

Financials

Financial year
2025
Turnover
€396.7m
Profit
€55.0m
Solvency
56.9%
Turnover▼ 4.5%
Net result
20182025
Go to Financials

Board & ownership

Board
33 members
Parent
INTERFIN · 99.99%
Known shareholders
100%
Auditor
Ernst et Young Reviseurs…
  • Debora LORENZINODirector
  • Raphaël LEFEREDirector
  • Suzanne RYVERSDirector
  • Blanche de PierpontDirector
  • Ahmed OUARTASSIDirector

and 28 other directors

Go to Board & ownership

Timeline

Events
115
Since
1983
Next accounts
by 31-07-2027
  1. 09-07-2026Annual accounts filed
  2. 18-06-2026Miscellaneous
  3. 31-12-2025Highest result from 2018 to 2025
Go to Timeline

Company details

Legal form
Coöperatieve vennootschap van publiek recht
Activity
Production of electricity from non-renewable sourcesNACE 35110
Founded
29-06-1982
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
43
Purpose
“L'objet social inclut la gestion des réseaux de distribution d'électricité et de gaz…” (deed in French)
Go to Articles of association

Go further with this company

Your own company? See how customers, suppliers and banks see it and what to improve first.

Investigating this company? Keep it with today's facts in a case file.