SIBOREX
ActiveFrom the official registers: KBO 11 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
SIBOREX has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €432,164 and a net result of €58,091. Equity has been growing by about 30% per year since 2018. Its solvency ranks better than 36% of 10,798 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Official details
KBO- Status
- Active since 06-02-2015 Normal situation
- Legal form
- Private limited company
- Registered office
- Parc Ind. des Hauts Sarts, 4e av 40, 4040 Herstal
- Activity
- Business and other management consultancy NACE 70200and 4 others
- Establishment unit
- 2.239.504.821 4040 Herstal, since 06-02-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Board and ownership
- JOLY MichelDirector · since 06-02-2015
- Emmanuelle JolyDirector
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €478,882
- ▲ 1.6%
- Turnover
- ≈ €700,000
- estimated
- Profit
- €58,091
- ▼ 39.6%
- Equity
- €432,164
- ▲ 15.5%
- Total assets
- €1.2m
- ▼ 13.7%
- Staff
- 2 FTE
- ▼ 33.3%
Score breakdownraises risk1 change of registered office in 24 monthslowers riskFigures for financial year 2025 (filed on 21-06-2026)Size: 2 FTE, total assets €1.2mSector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 35% of them on solvency, 16% on liquidity, 28% on profitability and 63% on growth.
The bankruptcy probability was computed on 31-10-2026 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. 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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Signals
The company filed its last 7 accounts on average 17 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, abbreviated format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 21-06-2026
- Format
- abbreviated format
- Reference
- 2026-00179603
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 24% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Companies with the same profile, two years later
Historical observationIn July 2024, 10,904 companies had the same profile as SIBOREX has now. Two years later, 0.7% had gone bankrupt and 95.2% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of SIBOREX itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,445 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 10,904 companies, not a prediction for SIBOREX. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €54,410 | €54,680 | €76,621 | €175,031 | €213,726 | ▲ 22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,545 | €3,917 | €11,077 | €31,087 | €51,589 | €84,764 | €115,334 | €115,300 | = |
| Other operating charges640/8 | - | - | - | €1,165 | €2,773 | €2,235 | €6,946 | €18,598 | ▲ 168% |
| Non-recurring operating charges66A | - | - | - | - | €126,816 | - | - | - | - |
| Gross operating margin9900 | -€36,335 | -€29,767 | -€72,030 | €170,285 | €388,046 | €224,235 | €471,113 | €478,882 | ▲ 1.6% |
| Operating profit (loss)9901 | -€44,856 | -€34,460 | -€135,768 | €83,623 | €152,188 | €60,615 | €173,801 | €131,258 | ▼ 24.5% |
| Financial income75/76B | - | - | - | €402 | €10,149 | €1,853 | €8,622 | €20,156 | ▲ 134% |
| Recurring financial income75 | - | - | - | €402 | €10,149 | €1,853 | €8,622 | €20,156 | ▲ 134% |
| Financial charges65/66B | - | - | - | €13,484 | €53,385 | €46,043 | €70,636 | €54,589 | ▼ 22.7% |
| Recurring financial charges65 | €229 | €780 | €3,038 | €13,484 | €53,385 | €46,043 | €70,636 | €54,589 | ▼ 22.7% |
| Profit (loss) for the period before taxes9903 | -€45,085 | -€35,240 | -€138,805 | €70,541 | €108,952 | €16,424 | €111,788 | €96,825 | ▼ 13.4% |
| Income taxes67/77 | €541 | €498 | €553 | €555 | €560 | €515 | €15,559 | €38,733 | ▲ 149% |
| Profit (loss) for the period9904 | -€45,625 | -€35,738 | -€139,358 | €69,986 | €108,392 | €15,909 | €96,229 | €58,091 | ▼ 39.6% |
| Profit (loss) for the period to be appropriated9905 | -€45,625 | -€35,738 | -€139,358 | €69,986 | €108,392 | €15,909 | €96,229 | €58,091 | ▼ 39.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.05m | €0.07m | €0.5m | €0.7m | €1.1m | €1.1m | €1.4m | €1.2m | ▼ 13.7% |
| Fixed assets21/28 | €0.01m | €0.009m | €0.1m | €0.1m | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 21.6% |
| Tangible fixed assets22/27 | €0.01m | €0.009m | €0.1m | €0.1m | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 21.6% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 20.9% |
| Furniture and vehicles24 | - | - | - | €306 | €0.01m | €0.02m | €0.01m | €0.01m | ▼ 17.3% |
| Leasing and similar rights25 | - | - | - | €0.02m | €0.01m | €0.008m | €0.005m | €0.001m | ▼ 84.5% |
| Current assets29/58 | €0.04m | €0.06m | €0.4m | €0.5m | €0.8m | €0.8m | €1.0m | €0.9m | ▼ 11.0% |
| Stocks and contracts in progress3 | €0.04m | €0.05m | €0.3m | €0.2m | €0.5m | €0.4m | €0.6m | €0.5m | ▼ 21.0% |
| Stocks30/36 | - | - | - | €0.2m | €0.5m | €0.4m | €0.6m | €0.5m | ▼ 21.0% |
| Amounts receivable within one year40/41 | €0.004m | €0.01m | €0.03m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 12.4% |
| Trade receivables40 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 16.3% |
| Other amounts receivable41 | - | - | - | €0.002m | - | €0.03m | €0.03m | €0.02m | ▼ 22.3% |
| Cash at bank and in hand54/58 | €0.001m | €0.001m | €0.09m | €0.09m | €0.04m | €0.08m | €0.1m | €0.09m | ▼ 20.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | €0.001m | €0.002m | €0.01m | ▲ 410% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.05m | €0.07m | €0.5m | €0.7m | €1.1m | €1.1m | €1.4m | €1.2m | ▼ 13.7% |
| Equity10/15 | -€0.09m | -€0.1m | -€0.3m | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 15.5% |
| Contributions10/11 | €0.03m | €0.03m | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.06m | ▲ 57× |
| Non-distributable reserves130/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Reserves not available under the articles1311 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €0.06m | - |
| Profit (loss) carried forward14 | -€0.1m | -€0.2m | -€0.3m | -€0.2m | -€0.1m | -€0.1m | -€0.002m | €164 | - |
| Amounts payable17/49 | €0.1m | €0.2m | €0.8m | €0.5m | €0.8m | €0.9m | €1.0m | €0.8m | ▼ 24.4% |
| Amounts payable after more than one year17 | - | - | €0.7m | €0.3m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 19.9% |
| Financial debts170/4 | - | - | - | €0.01m | €0.1m | €0.2m | €0.1m | €0.07m | ▼ 51.1% |
| Other amounts payable178/9 | - | - | - | €0.3m | €0.3m | €0.2m | €0.1m | €0.1m | ▲ 25.0% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.08m | €0.2m | €0.5m | €0.6m | €0.8m | €0.6m | ▼ 25.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.004m | €0.03m | €0.08m | €0.1m | €0.08m | ▼ 30.0% |
| Financial debts43 | - | - | - | - | - | €0.1m | €0.3m | €0.3m | ▼ 7.7% |
| Credit institutions430/8 | - | - | - | - | - | €0.1m | €0.3m | €0.3m | ▼ 7.7% |
| Trade debts44 | €0.002m | €0.002m | €0.01m | €0.1m | €0.2m | €0.3m | €0.3m | €0.1m | ▼ 58.8% |
| Suppliers440/4 | - | - | - | €0.1m | €0.2m | €0.3m | €0.3m | €0.1m | ▼ 58.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.009m | €0.02m | €0.02m | €0.03m | €0.01m | ▼ 48.5% |
| Taxes450/3 | - | - | - | €0.002m | €0.01m | €0.01m | €0.02m | €0.01m | ▼ 39.8% |
| Remuneration and social security454/9 | - | - | - | €0.007m | €0.009m | €0.009m | €0.01m | €0.005m | ▼ 60.3% |
| Other amounts payable47/48 | - | - | - | €0.08m | €0.2m | €0.07m | - | €0.05m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.001m | €0.001m | ▼ 0.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€45,625 | -€35,738 | -€139,358 | €69,986 | €108,392 | €15,909 | €96,229 | €58,091 | ▼ 39.6% |
| + Depreciation and write-downs630 | €2,545 | €3,917 | €11,077 | €31,087 | €51,589 | €84,764 | €115,334 | €115,300 | = |
| Operating cash flow (approximation) | -€43,081 | -€31,821 | -€128,281 | €101,072 | €159,980 | €100,673 | €211,563 | €173,391 | ▼ 18.0% |
| Investment in fixed assets (approximation) | - | €0 | -€107,463 | -€67,298 | -€195,211 | -€147,007 | -€122,824 | -€38,843 | ▲ 68.4% |
| Change in cash | - | €432 | €92,371 | €718 | -€57,187 | €47,527 | €30,250 | -€24,032 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 21-06-2026 | 2026-00179603 | NBB |
| 31-12-2024 | full format | 30-06-2025 | 2025-00201917 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00301239 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00232044 | |
| 31-12-2021 | micro format | 18-07-2022 | 2022-20195620 | |
| 31-12-2020 | micro format | 24-06-2021 | 2021-24400079 | |
| 31-12-2019 | micro format | 18-08-2020 | 2020-41900515 | |
| 31-12-2018 | micro format | 15-07-2019 | 2019-32600323 | |
| 31-12-2017 | micro format | 19-06-2018 | 2018-19900370 | |
| 31-12-2016 | full format | 29-06-2017 | 2017-23500133 |
Comparable companies
These companies have the same main activity as SIBOREX: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €1m and €1.6m, founded between 2011 and 2016.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| SIBOREX Herstal | 2015 | €1.2m | €0.4m | €0.5m | €0.06m | 2 | 2025 |
| LKS Group Dison | 2014 | €1.0m | €0.2m | €0.3m | €0.1m | 2.2 | 2025 |
| LABO VAN DE VELDE Herstal | 2012 | €1.6m | €1.0m | €0.4m | €0.5m | 1 | 2025 |
| BROERS & LARAKI MANAGEMENT Oupeye | 2011 | €1.5m | €0.5m | €0.5m | €0.01m | 1 | 2025 |
| EFF3CT Bierbeek | 2013 | €1.5m | €0.3m | €0.5m | €0.1m | 2.8 | 2025 |
| Pharmacie MOUCHET Hotton | 2013 | €1.1m | €0.6m | €0.4m | -€0.007m | 2.9 | 2025 |
| PRAEVENTIS BELGIUM Drogenbos | 2016 | €1.1m | -€0.2m | €0.6m | €0.5m | 1.6 | 2025 |
They were chosen from the 54,697 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| JOLY Michel |
|
| Emmanuelle Joly |
|
Owners and capital
Owners
Group and network
Connections & network
2 current directorsThe network starts from the directors of SIBOREX. Every other company they run is a node.
History
Acts, filings and financial milestones
09-01
Gazette deed
Appointment: Emmanuelle Joly (director)Registered-office move3 points ▸
- General meeting, 22-12-2025
- Registered-office move, 4ième avenue n°40 à 4040 HERSTAL
- Director appointment, Emmanuelle Joly (director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Sites & property
This address was not found in the Belgian address register (BOSA BEST).
Parc Ind. des Hauts Sarts, 4e av 404040 Herstal