SOBEKA
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 26 days after the deadline Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00425838.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 28 filings
Equity
€193,102▼ 1.5%
2024 · €196,061
Total assets
€193,102▼ 8.4%
2024 · €210,881
Net result
-€2,959
2024 · €1,701
Working capital
€196,061▼ 8.9%
2023 · €215,164
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€2,872
2025
20182025
Net result
-€2,959
2025
lowest quarter of the sector
20182025
Equity
€193,102
▼ 1.5%
2025
middle half of the sector
20182025
Total assets
€193,102
▼ 8.4%
2025
lowest quarter of the sector
20182025
Debt
no figure
2025
20182025
Working capital
no figure
2025
20182025
Solvency
100.0%
▲ 7.0pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-1.5%
▼ 2.3pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€3,334-€22,826€232▼ 99.0%-€344-€16,884▼ 4,808%€33,872€1,783▼ 94.7%-€2,872
Net result-€4,706-€22,410-€36within the sector's middle half-€685within the sector's middle half▼ 1,803%-€11,307below the sector's middle half▼ 1,551%€33,554above the sector's middle half€1,701within the sector's middle half▼ 94.9%-€2,959below the sector's middle half
Equity€150,424-€172,834▲ 14.9%€172,798above the sector's middle half=€172,113above the sector's middle half▼ 0.4%€160,806within the sector's middle half▼ 6.6%€194,360above the sector's middle half▲ 20.9%€196,061above the sector's middle half▲ 0.9%€193,102within the sector's middle half▼ 1.5%
Total assets€288,200-€238,265▼ 17.3%€292,230within the sector's middle half▲ 22.6%€272,382within the sector's middle half▼ 6.8%€197,681within the sector's middle half▼ 27.4%€215,209within the sector's middle half▲ 8.9%€210,881within the sector's middle half▼ 2.0%€193,102below the sector's middle half▼ 8.4%
Debt€137,776-€65,431▼ 52.5%€119,432▲ 82.5%€100,269▼ 16.0%€36,875▼ 63.2%€20,849▼ 43.5%€14,820▼ 28.9%
Working capital€130,252-€160,750▲ 23.4%€212,019above the sector's middle half▲ 31.9%€217,775above the sector's middle half▲ 2.7%€151,278above the sector's middle half▼ 30.5%€215,164above the sector's middle half▲ 42.2%€196,061above the sector's middle half▼ 8.9%
Solvency52.2%-72.5%▲ 20.3pp59.1%within the sector's middle half▼ 13.4pp63.2%within the sector's middle half▲ 4.1pp81.3%above the sector's middle half▲ 18.2pp90.3%above the sector's middle half▲ 9.0pp93.0%above the sector's middle half▲ 2.7pp100.0%above the sector's middle half▲ 7.0pp
Current ratio2.67-26.46▲ 23.7812.84above the sector's middle half▼ 13.6214.23above the sector's middle half
Return on assets (ROA)-1.6%-9.4%▲ 11.0pp0.0%within the sector's middle half▼ 9.4pp-0.3%within the sector's middle half▼ 0.2pp-5.7%below the sector's middle half▼ 5.5pp15.6%above the sector's middle half▲ 21.3pp0.8%within the sector's middle half▼ 14.8pp-1.5%below the sector's middle half▼ 2.3pp
Staff (FTE)1.6-1.2▼ 25.0%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 operating result for 2025 is a loss of €2,872, after a profit of €1,783 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Key figures and ratios
ROE
-1.5%▼
2024 · 0.9%
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,236 | - | - | - |
| Depreciation and write-downs of the year | €8,900 | €9,046 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €44,410 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,473 | €8,900 | €8,900 | €8,900 | €9,046 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €300 | - | - | - |
| Other operating charges640/8 | - | - | - | €965 | €980 | €1,286 | €387 | €400 | ▲ 3.4% |
| Gross operating margin9900 | €89,789 | €84,744 | €11,959 | €9,521 | -€6,858 | €35,458 | €2,170 | -€2,472 | - |
| Operating profit (loss)9901 | -€3,334 | €22,826 | €232 | -€344 | -€16,884 | €33,872 | €1,783 | -€2,872 | - |
| Financial income75/76B | - | - | - | €1,465 | €6,015 | - | - | - | - |
| Recurring financial income75 | €358 | €46 | €288 | €1,465 | €6,015 | - | - | - | - |
| Financial charges65/66B | - | - | - | €1,806 | €438 | €318 | €82 | €87 | ▲ 6.1% |
| Recurring financial charges65 | €1,730 | €462 | €556 | €1,806 | €438 | €318 | €82 | €87 | ▲ 6.1% |
| Profit (loss) for the period before taxes9903 | -€4,706 | €22,410 | -€36 | -€685 | -€11,307 | €33,554 | €1,701 | -€2,959 | - |
| Profit (loss) for the period9904 | -€4,706 | €22,410 | -€36 | -€685 | -€11,307 | €33,554 | €1,701 | -€2,959 | - |
| Profit (loss) for the period to be appropriated9905 | -€4,706 | €22,410 | -€36 | -€685 | -€11,307 | €33,554 | €1,701 | -€2,959 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €288,200 | €238,265 | €292,230 | €272,382 | €197,681 | €215,209 | €210,881 | €193,102 | ▼ 8.4% |
| Fixed assets21/28 | €80,172 | €71,200 | €62,300 | €53,400 | €45,590 | - | - | - | - |
| Tangible fixed assets22/27 | €80,100 | €71,200 | €62,300 | €53,400 | €45,590 | - | - | - | - |
| Land and buildings22 | - | - | - | €53,400 | €44,500 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | - | €1,090 | - | - | - | - |
| Financial fixed assets28 | €72 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €208,028 | €167,065 | €229,930 | €218,982 | €152,091 | €215,209 | €210,881 | €193,102 | ▼ 8.4% |
| Stocks and contracts in progress3 | €3,361 | €2,313 | €2,309 | €2,216 | €540 | - | - | - | - |
| Stocks30/36 | - | - | - | €2,216 | €540 | - | - | - | - |
| Amounts receivable within one year40/41 | €120,515 | €135,138 | €168,801 | €154,479 | €140,617 | €179,336 | €177,423 | €181,544 | ▲ 2.3% |
| Trade receivables40 | - | - | - | €154,479 | €140,617 | €138,606 | €134,164 | €138,252 | ▲ 3.0% |
| Other amounts receivable41 | - | - | - | - | - | €40,730 | €43,259 | €43,292 | ▲ 0.1% |
| Cash at bank and in hand54/58 | €83,324 | €29,614 | €58,820 | €62,287 | €10,934 | €35,873 | €33,458 | €11,558 | ▼ 65.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €288,200 | €238,265 | €292,230 | €272,382 | €197,681 | €215,209 | €210,881 | €193,102 | ▼ 8.4% |
| Equity10/15 | €150,424 | €172,834 | €172,798 | €172,113 | €160,806 | €194,360 | €196,061 | €193,102 | ▼ 1.5% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | - | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Non-distributable reserves130/1 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Profit (loss) carried forward14 | €82,254 | €104,664 | €104,628 | €103,943 | €92,636 | €126,190 | €127,891 | €124,932 | ▼ 2.3% |
| Amounts payable17/49 | €137,776 | €65,431 | €119,432 | €100,269 | €36,875 | €20,849 | €14,820 | - | - |
| Amounts payable after more than one year17 | €60,000 | €58,062 | €101,062 | €99,062 | €36,062 | €9,062 | - | - | - |
| Financial debts170/4 | - | - | - | €99,062 | €36,062 | €9,062 | - | - | - |
| Amounts payable within one year42/48 | €77,776 | €6,315 | €17,911 | €1,207 | €813 | €45 | €14,820 | - | - |
| Trade debts44 | €61,556 | €6,302 | €16,368 | €94 | €500 | - | €14,820 | - | - |
| Suppliers440/4 | - | - | - | €94 | €500 | - | €14,820 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,113 | €268 | - | - | - | - |
| Taxes450/3 | - | - | - | €1,113 | €268 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €45 | €45 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €11,742 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,706 | €22,410 | -€36 | -€685 | -€11,307 | €33,554 | €1,701 | -€2,959 | - |
| + Depreciation and write-downs630 | €9,473 | €8,900 | €8,900 | €8,900 | €9,046 | - | - | - | - |
| Operating cash flow (approximation) | €4,767 | €31,310 | €8,864 | €8,215 | -€2,261 | €33,554 | €1,701 | -€2,959 | - |
| Investment in fixed assets (approximation) | - | €72 | €0 | €0 | -€1,236 | - | - | - | - |
| Change in cash | - | -€53,710 | €29,206 | €3,467 | -€51,353 | €24,939 | -€2,415 | -€21,900 | ▼ 807% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as SOBEKA has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOBEKA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 12,322 companies, not a prediction for SOBEKA. 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.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-08-2026 | 2026-00425838 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00223237 | |
| 31-12-2023 | micro format | 04-06-2024 | 2024-00107823 | |
| 31-12-2022 | micro format | 22-06-2023 | 2023-00145771 | |
| 31-12-2021 | micro format | 17-05-2022 | 2022-20027937 | |
| 31-12-2020 | micro format | 17-08-2021 | 2021-48900470 | |
| 31-12-2019 | micro format | 20-05-2020 | 2020-12700515 | |
| 31-12-2018 | micro format | 09-08-2019 | 2019-44700499 | |
| 31-12-2017 | micro format | 21-06-2018 | 2018-20400393 | |
| 31-12-2016 | micro format | 02-06-2017 | 2017-14200319 |