SIBI II
ActiveSummary
SIBI II has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €33,202 and a net result of €7,905. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 36% of 9341 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+9
Solvency42▼-38
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.07 against 0.82 in 2024; short-term debt: 83.3% and cash: 2.9% of total assets), and 83.3% of the assets are financed with debt.
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. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
16.7%
Return on assets
4%
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 €33,202
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 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
4 d late
2024
28 d late
2023
29 d late
2022
53 d early
2021
26 d late
2020
123 d early
2019
72 d 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 23 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 26 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€33,202▲ 31.3%
2024 · €25,297
Total assets
€199,263▲ 336%
2024 · €45,702
Net result
€7,905▲ 57.7%
2024 · €5,012
Working capital
-€154,342▼ 4,122%
2024 · -€3,656
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3,728€769▼ 79.4%-€6,512€5,012€11,089▲ 121%
Net result€3,473within the sector's middle half€766within the sector's middle half▼ 78.0%-€6,512within the sector's middle half€5,012within the sector's middle half€7,905within the sector's middle half▲ 57.7%
Equity€26,031below the sector's middle half▲ 15.4%€26,797below the sector's middle half▲ 2.9%€20,285below the sector's middle half▼ 24.3%€25,297below the sector's middle half▲ 24.7%€33,202below the sector's middle half▲ 31.3%
Total assets€30,425below the sector's middle half▼ 4.2%€30,100below the sector's middle half▼ 1.1%€30,877below the sector's middle half▲ 2.6%€45,702below the sector's middle half▲ 48.0%€199,263below the sector's middle half▲ 336%
Debt€4,393▼ 52.2%€3,303▼ 24.8%€10,591▲ 221%€20,405▲ 92.7%€166,061▲ 714%
Working capital€4,913within the sector's middle half▲ 51.2%-€16within the sector's middle half-€3,713within the sector's middle half▼ 23,104%-€3,656within the sector's middle half▲ 1.5%-€154,342below the sector's middle half▼ 4,122%
Solvency85.6%above the sector's middle half▲ 14.5pp89.0%above the sector's middle half▲ 3.5pp65.7%above the sector's middle half▼ 23.3pp55.4%within the sector's middle half▼ 10.3pp16.7%within the sector's middle half▼ 38.7pp
Current ratio2.75within the sector's middle half▲ 1.141.00within the sector's middle half▼ 1.760.58within the sector's middle half▼ 0.420.82within the sector's middle half▲ 0.240.07below the sector's middle half▼ 0.75
Return on assets (ROA)11.4%above the sector's middle half▲ 12.0pp2.5%within the sector's middle half▼ 8.9pp-21.1%below the sector's middle half▼ 23.6pp11.0%above the sector's middle half▲ 32.1pp4.0%within the sector's middle half▼ 7.0pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 121% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €199,263
Fixed assets
€187,544 ▲ 548%
Current assets
€11,718 ▼ 30.0%
Equity and liabilities €199,263
Equity
€33,202 ▲ 31.3%
Debt
€166,061 ▲ 714%
Debt's share of the balance-sheet total rises from 44.6% to 83.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17,026▲
2024 · €6,117
Cash flow
€13,842▲
2024 · €6,117
Debt to equity
5.00▲
2024 · 0.81
ROE
23.8%▲
2024 · 19.8%
Interest coverage
18.03
Debt ≤ 1 year
€166,061▲
2024 · €20,405
Income taxes
€2,240
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,984 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.3%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 3,984 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €500 | €794 | €990 | €1,106 | €5,937 | ▲ 437% |
| Other operating charges640/8 | €2,175 | €2,289 | €2,454 | €2,396 | €3,324 | ▲ 38.7% |
| Gross operating margin9900 | €6,402 | €3,851 | -€3,068 | €8,514 | €20,349 | ▲ 139% |
| Operating profit (loss)9901 | €3,728 | €769 | -€6,512 | €5,012 | €11,089 | ▲ 121% |
| Financial charges65/66B | €147 | €3 | - | - | €944 | - |
| Recurring financial charges65 | €147 | €3 | - | - | €944 | - |
| Profit (loss) for the period before taxes9903 | €3,581 | €766 | -€6,512 | €5,012 | €10,145 | ▲ 102% |
| Income taxes67/77 | €107 | - | - | - | €2,240 | - |
| Profit (loss) for the period9904 | €3,473 | €766 | -€6,512 | €5,012 | €7,905 | ▲ 57.7% |
| Profit (loss) for the period to be appropriated9905 | €3,473 | €766 | -€6,512 | €5,012 | €7,905 | ▲ 57.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €30,425 | €30,100 | €30,877 | €45,702 | €199,263 | ▲ 336% |
| Fixed assets21/28 | €22,708 | €26,813 | €25,823 | €28,952 | €187,544 | ▲ 548% |
| Tangible fixed assets22/27 | €22,708 | €26,813 | €25,823 | €28,952 | €187,544 | ▲ 548% |
| Land and buildings22 | €22,708 | €22,208 | €21,708 | €21,208 | €20,708 | ▼ 2.4% |
| Plant, machinery and equipment23 | - | €4,605 | €4,115 | €7,744 | €166,836 | ▲ 2,054% |
| Current assets29/58 | €7,716 | €3,287 | €5,053 | €16,749 | €11,718 | ▼ 30.0% |
| Amounts receivable within one year40/41 | - | €500 | €550 | €3,550 | €3,000 | ▼ 15.5% |
| Trade receivables40 | - | - | - | €3,000 | €3,000 | = |
| Other amounts receivable41 | - | €500 | €550 | €550 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €6,946 | €2,787 | €4,503 | €13,199 | €5,718 | ▼ 56.7% |
| Deferred charges and accrued income490/1 | €770 | - | - | - | €3,000 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €30,425 | €30,100 | €30,877 | €45,702 | €199,263 | ▲ 336% |
| Equity10/15 | €26,031 | €26,797 | €20,285 | €25,297 | €33,202 | ▲ 31.3% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €4,008 | €4,008 | €4,008 | €4,008 | €4,008 | = |
| Non-distributable reserves130/1 | €383 | €383 | - | - | - | - |
| Reserves not available under the articles1311 | €383 | €383 | - | - | - | - |
| Distributable reserves133 | €3,625 | €3,625 | €4,008 | €4,008 | €4,008 | = |
| Profit (loss) carried forward14 | €3,473 | €4,239 | -€2,273 | €2,739 | €10,644 | ▲ 289% |
| Amounts payable17/49 | €4,393 | €3,303 | €10,591 | €20,405 | €166,061 | ▲ 714% |
| Amounts payable within one year42/48 | €2,803 | €3,303 | €8,766 | €20,405 | €166,061 | ▲ 714% |
| Trade debts44 | €1,496 | €1,231 | €1,150 | €1,639 | €622 | ▼ 62.1% |
| Suppliers440/4 | €1,496 | €1,231 | €1,150 | €1,639 | €622 | ▼ 62.1% |
| Taxes, remuneration and social security45 | €107 | - | - | - | €740 | - |
| Taxes450/3 | €107 | - | - | - | €740 | - |
| Other amounts payable47/48 | €1,200 | €2,072 | €7,617 | €18,766 | €164,699 | ▲ 778% |
| Accrued charges and deferred income492/3 | €1,590 | - | €1,825 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,473 | €766 | -€6,512 | €5,012 | €7,905 | ▲ 57.7% |
| + Depreciation and write-downs630 | €500 | €794 | €990 | €1,106 | €5,937 | ▲ 437% |
| Operating cash flow (approximation) | €3,973 | €1,560 | -€5,522 | €6,117 | €13,842 | ▲ 126% |
| Investment in fixed assets (approximation) | - | -€4,899 | €0 | -€4,235 | -€164,528 | ▼ 3,785% |
| Change in cash | - | -€4,159 | €1,716 | €8,696 | -€7,481 | ▼ 186% |
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
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 4 days late
2025
31-12
Financial
Highest result since 2018net €7,905 ▲57.7%
Operating result €11,089, net result €7,905, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Back to profitnet €5,012
Net result €5,012 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet -€6,512
Net result drops to -€6,512, the lowest in the series; recovery starts the following year.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
31-12
Financial
Back to profitnet €3,473
Net result €3,473 after 2 loss-making years.
30-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
20-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
16-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Knokke-Heist · 1 establishment unit since 1991
Ground area
1,142 m²
Building footprint
374 m²
Volume, LiDAR
3,133 m³
Parcel 31013A0062/00A000, Flanders · tallest building 12.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SIBI II
since 19912.053.378.746
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31013A0062/00A000 | Flanders | 1,142 m² | 1 · 374 m² | 12.6 m · 3 fl. |
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 ownerChain of control
- Airelle
- SIBI II
Highest known parent: Airelle. The sources do not say who stands above it.
Owners 1
- AirelleparentSourceaccounts Airelle 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Similar companies · same sector, comparable size
IMKETEC
BE 0644.600.731
Kinrooi · Eq €33,187
RAESBORRE
BE 0774.423.848
Leuven · Eq €33,104
BUILDELEC
BE 0645.884.495
Sint-Joost-ten-Node · Eq €33,319
GILGO
BE 0433.431.335
Lebbeke · Eq €33,324
JONIPA
BE 0463.630.603
Charleroi · Eq €33,481
Of 9,145 companies in sector 68201 we hold annual accounts for 6,776. 2,815 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-04-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0443947323
Registered
11-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.