SOBELVIN DIFFUSION
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 22-10-2025 PDF all 36 filings
Turnover
≈ €1.9m
Estimated: probably between €820,000 and €3.4m
EBIT margin
Not included in this filing
Net result
€84,519▼ 75.3%
2024 · €342,835
Working capital
€447,588▼ 60.1%
2024 · €1.1m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€103,341
▼ 32.4%
2025
20192025
Net result
€84,519
▼ 75.3%
2025
middle half of the sector
20192025
Equity
€444,909
▼ 57.4%
2025
middle half of the sector
20192025
Total assets
€2.2m
▼ 6.3%
2025
middle half of the sector
20192025
Debt
€1.7m
▲ 36.2%
2025
20192025
Working capital
€447,588
▼ 60.1%
2025
middle half of the sector
20192025
Solvency
20.6%
▼ 24.7pp
2025
lowest quarter of the sector
20192025
Current ratio
1.56
▼ 5.10
2025
middle half of the sector
20192025
Return on assets (ROA)
3.9%
▼ 11.0pp
2025
middle half of the sector
20192025
Staff (FTE)
0.5
▼ 16.7%
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.1m▲ 44.5%€0.2m▲ 70.7%€0.2m▼ 36.7%€0.1m▼ 1.5%€0.2m▲ 2.0%€0.1m▼ 32.4%
Net result€0.03m-€0.06mwithin the sector's middle half▲ 136%€0.2mwithin the sector's middle half▲ 210%€0.1mwithin the sector's middle half▼ 43.4%€0.1mwithin the sector's middle half▲ 0.4%€0.3mwithin the sector's middle half▲ 210%€0.08mwithin the sector's middle half▼ 75.3%
Equity€0.3m-€0.4mwithin the sector's middle half▲ 19.1%€0.6mwithin the sector's middle half▲ 50.1%€0.6mwithin the sector's middle half▲ 11.7%€0.8mwithin the sector's middle half▲ 17.3%€1.0mwithin the sector's middle half▲ 37.1%€0.4mwithin the sector's middle half▼ 57.4%
Total assets€1.5m-€1.5mwithin the sector's middle half▼ 1.5%€1.8mwithin the sector's middle half▲ 16.3%€2.1mwithin the sector's middle half▲ 21.6%€2.1mwithin the sector's middle half▼ 0.1%€2.3mwithin the sector's middle half▲ 7.5%€2.2mwithin the sector's middle half▼ 6.3%
Debt€1.2m-€1.1m▼ 7.0%€1.2m▲ 4.7%€1.5m▲ 26.6%€1.4m▼ 7.6%€1.3m▼ 8.8%€1.7m▲ 36.2%
Working capital€0.04m-€0.09mwithin the sector's middle half▲ 117%€0.02mbelow the sector's middle half▼ 76.4%€0.07mbelow the sector's middle half▲ 244%€0.5mwithin the sector's middle half▲ 622%€1.1mwithin the sector's middle half▲ 118%€0.4mwithin the sector's middle half▼ 60.1%
Solvency21.1%-25.5%within the sector's middle half▲ 4.4pp33.0%within the sector's middle half▲ 7.4pp30.3%within the sector's middle half▼ 2.7pp35.5%within the sector's middle half▲ 5.3pp45.3%within the sector's middle half▲ 9.8pp20.6%below the sector's middle half▼ 24.7pp
Current ratio1.06-1.13within the sector's middle half▲ 0.081.10below the sector's middle half▼ 0.031.30within the sector's middle half▲ 0.203.28above the sector's middle half▲ 1.986.67above the sector's middle half▲ 3.381.56within the sector's middle half▼ 5.10
Return on assets (ROA)1.7%-4.2%within the sector's middle half▲ 2.4pp11.1%above the sector's middle half▲ 6.9pp5.1%within the sector's middle half▼ 5.9pp5.2%within the sector's middle half=14.9%above the sector's middle half▲ 9.7pp3.9%within the sector's middle half▼ 11.0pp
Staff (FTE)0.8-0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=0.6below the sector's middle half▼ 25.0%0.5below the sector's middle half▼ 16.7%
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 32% lower than in 2024 and the lowest since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€915,113 ▼ 6.8%
Current assets
€1.2m ▼ 5.8%
Equity and liabilities €2.2m
Equity
€444,909 ▼ 57.4%
Provisions
€895 ▼ 41.6%
Debt
€1.7m ▲ 36.2%
Debt's share of the balance-sheet total rises from 54.6% to 79.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€170,227▼
2024 · €220,206
Cash flow
€151,405▼
2024 · €410,106
Quick ratio
1.53▼
2024 · 6.54
Debt to equity
3.85▲
2024 · 1.20
ROE
19.0%▼
2024 · 32.8%
Interest coverage
7.48▼
2024 · 8.67
Debt ≤ 1 year
€795,703▲
2024 · €198,081
Debt > 1 year
€916,897▼
2024 · €1.1m
Income taxes
€228▼
2024 · €32,516
Staff costs
€58,680▼
2024 · €85,042
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | - | - | 0 | 0 |
| part-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 | 0.5 | 0.5 |
| Average over the year, in full-time equivalents | 0.8 | 0.8 | 0.6 | 0.5 |
| On a permanent contract | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €954,893 | €885,020 | €814,406 | €743,042 |
| Mortgages, amount registered | €50,000 | €50,000 | €50,000 | €50,000 |
| Mortgage mandates | €1.2m | €1.2m | €1.2m | €1.2m |
| Carrying value of the mortgaged assets | €1.5m | €1.0m | €978,934 | €913,617 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €376,320 | - | - | - |
| Financial fixed assets | - | €525 | - | - |
| Depreciation and write-downs of the year | €76,660 | €67,271 | €67,271 | €66,886 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €118,382 | €131,605 | €85,042 | €58,680 | ▼ 31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57,854 | €34,811 | €57,075 | €76,660 | €67,271 | €67,271 | €66,886 | ▼ 0.6% |
| Other operating charges640/8 | - | - | - | €2,253 | €2,829 | €3,564 | €1,398 | ▼ 60.8% |
| Non-recurring operating charges66A | - | - | - | €24 | €30 | €64 | €17 | ▼ 72.6% |
| Gross operating margin9900 | €268,405 | €277,423 | €408,131 | €349,567 | €351,637 | €308,875 | €230,323 | ▼ 25.4% |
| Operating profit (loss)9901 | €97,558 | €140,984 | €240,655 | €152,248 | €149,902 | €152,935 | €103,341 | ▼ 32.4% |
| Financial income75/76B | - | - | - | €949 | €17,651 | €247,191 | €3,513 | ▼ 98.6% |
| Recurring financial income75 | €6,332 | €8,403 | €3,867 | €949 | €8,262 | €3,513 | €3,513 | = |
| Non-recurring financial income76B | - | - | - | - | €9,390 | €243,677 | - | - |
| Financial charges65/66B | - | - | - | €26,466 | €27,833 | €25,412 | €22,745 | ▼ 10.5% |
| Recurring financial charges65 | €62,180 | €39,057 | €30,838 | €26,466 | €27,833 | €25,412 | €22,745 | ▼ 10.5% |
| Profit (loss) for the period before taxes9903 | €41,710 | €90,330 | €213,685 | €126,731 | €139,720 | €374,713 | €84,110 | ▼ 77.6% |
| Transfer from deferred taxes780 | - | - | - | €637 | €637 | €637 | €637 | = |
| Income taxes67/77 | €15,719 | €28,053 | €19,484 | €17,115 | €29,702 | €32,516 | €228 | ▼ 99.3% |
| Profit (loss) for the period9904 | €26,647 | €62,914 | €194,838 | €110,253 | €110,655 | €342,835 | €84,519 | ▼ 75.3% |
| Profit (loss) for the period to be appropriated9905 | €26,647 | €62,914 | €194,838 | €110,253 | €110,655 | €342,835 | €84,519 | ▼ 75.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.5m | €1.5m | €1.8m | €2.1m | €2.1m | €2.3m | €2.2m | ▼ 6.3% |
| Fixed assets21/28 | €0.8m | €0.8m | €1.5m | €1.8m | €1.4m | €1.0m | €0.9m | ▼ 6.8% |
| Tangible fixed assets22/27 | €0.5m | €0.4m | €1.2m | €1.5m | €1.0m | €1.0m | €0.9m | ▼ 6.8% |
| Land and buildings22 | - | - | - | €1.5m | €1.0m | €1.0m | €0.9m | ▼ 6.7% |
| Plant, machinery and equipment23 | - | - | - | €0.005m | €0.004m | €0.002m | €471 | ▼ 76.9% |
| Financial fixed assets28 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.7m | €0.7m | €0.2m | €0.3m | €0.7m | €1.3m | €1.2m | ▼ 5.8% |
| Stocks and contracts in progress3 | €0.6m | €0.5m | €0.01m | €0.03m | €0.07m | €0.02m | €0.02m | ▲ 0.7% |
| Stocks30/36 | - | - | - | €0.03m | €0.07m | €0.02m | €0.02m | ▲ 0.7% |
| Amounts receivable within one year40/41 | €0.09m | €0.2m | €0.2m | €0.3m | €0.6m | €1.3m | €1.2m | ▼ 6.5% |
| Trade receivables40 | - | - | - | €0.3m | €0.6m | €0.7m | €0.6m | ▼ 11.7% |
| Other amounts receivable41 | - | - | - | €0.003m | - | €0.6m | €0.6m | ▼ 0.4% |
| Current investments50/53 | €0.007m | €0.003m | €0.02m | €0.01m | €0.05m | €0.005m | €0.01m | ▲ 135% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.02m | - | €346 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.5m | €1.5m | €1.8m | €2.1m | €2.1m | €2.3m | €2.2m | ▼ 6.3% |
| Equity10/15 | €0.3m | €0.4m | €0.6m | €0.6m | €0.8m | €1.0m | €0.4m | ▼ 57.4% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €0.3m | €0.5m | €0.6m | €0.7m | €0.6m | €0.3m | ▼ 42.5% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.6m | €0.6m | €0.3m | ▼ 43.3% |
| Profit (loss) carried forward14 | - | - | - | - | - | €0.3m | - | - |
| Investment grants15 | - | - | - | €0.004m | €0.05m | €0.04m | €0.04m | ▼ 7.9% |
| Provisions and deferred taxes16 | €0.005m | €0.004m | €0.003m | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 41.6% |
| Deferred taxes168 | - | - | - | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 41.6% |
| Amounts payable17/49 | €1.2m | €1.1m | €1.2m | €1.5m | €1.4m | €1.3m | €1.7m | ▲ 36.2% |
| Amounts payable after more than one year17 | €0.5m | €0.5m | €1.0m | €1.3m | €1.1m | €1.1m | €0.9m | ▼ 13.4% |
| Financial debts170/4 | - | - | - | €1.0m | €0.9m | €0.8m | €0.7m | ▼ 8.8% |
| Other amounts payable178/9 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 28.9% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.2m | €0.2m | €0.2m | €0.2m | €0.8m | ▲ 302% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.07m | €0.1m | €0.07m | ▼ 30.5% |
| Trade debts44 | €0.1m | €0.04m | €0.03m | €0.1m | €0.05m | €0.04m | €0.03m | ▼ 28.2% |
| Suppliers440/4 | - | - | - | €0.1m | €0.05m | €0.04m | €0.03m | ▼ 28.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.1m | €0.06m | €0.02m | ▼ 70.7% |
| Taxes450/3 | - | - | - | €0.06m | €0.09m | €0.05m | €0.01m | ▼ 78.8% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.02m | €0.005m | €0.006m | ▲ 5.0% |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.7m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.02m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,647 | €62,914 | €194,838 | €110,253 | €110,655 | €342,835 | €84,519 | ▼ 75.3% |
| + Depreciation and write-downs630 | €57,854 | €34,811 | €57,075 | €76,660 | €67,271 | €67,271 | €66,886 | ▼ 0.6% |
| Operating cash flow (approximation) | €84,501 | €97,725 | €251,914 | €186,913 | €177,926 | €410,106 | €151,405 | ▼ 63.1% |
| Investment in fixed assets (approximation) | - | €0 | -€816,808 | -€376,320 | €366,406 | €352,009 | €0 | ▼ 100% |
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, 3,984 companies had the same profile as SOBELVIN DIFFUSION has now. Two years later, 96.5% were still going and 1.1% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.5%
was still going
2.3%
stopped otherwise
1.1%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOBELVIN DIFFUSION itself: 0.3% 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 3,984 companies, not a prediction for SOBELVIN DIFFUSION. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 22-10-2025 | 2025-00549244 | |
| 30-06-2024 | full format | 30-10-2024 | 2024-00523670 | |
| 30-06-2023 | full format | 25-10-2023 | 2023-00492097 | |
| 30-06-2022 | full format | 26-10-2022 | 2022-20474996 | |
| 30-06-2021 | full format | 25-11-2021 | 2021-78200251 | |
| 30-06-2020 | full format | 04-11-2020 | 2020-68600053 | |
| 30-06-2019 | full format | 25-10-2019 | 2019-71700088 | |
| 30-06-2018 | full format | 24-10-2018 | 2018-70000325 | |
| 30-06-2017 | full format | 15-11-2017 | 2017-69700567 | |
| 30-06-2016 | full format | 24-10-2016 | 2016-66100436 |