SOBIDAL
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00481714.
Annual accounts 2025 filed on 30-08-2026 at the NBB all 7 filings
Turnover
≈ €150,000
Estimated: probably between €97,000 and €390,000
EBIT margin
Not included in this filing
Net result
€17,719▼ 19.4%
2024 · €21,973
Working capital
€180,486▲ 10.9%
2024 · €162,767
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€35,363
▲ 15.7%
2025
20192025
Net result
€17,719
▼ 19.4%
2025
middle half of the sector
20192025
Equity
€180,486
▲ 10.9%
2025
lowest quarter of the sector
20192025
Total assets
€15.2m
▲ 28.0%
2025
highest quarter of the sector
20192025
Debt
€15.0m
▲ 28.3%
2025
20192025
Working capital
€180,486
▲ 10.9%
2025
lowest quarter of the sector
20192025
Solvency
1.2%
▼ 0.2pp
2025
lowest quarter of the sector
20192025
Current ratio
1.01
=
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
0.1%
▼ 0.1pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.05m-€0.06m▲ 22.2%-€0.06m€0.04m€0.04m▼ 3.8%€0.03m▼ 21.8%€0.04m▲ 15.7%
Net result€0.02m-€0.03mwithin the sector's middle half▲ 70.9%€0.01mbelow the sector's middle half▼ 66.6%€0.02mwithin the sector's middle half▲ 104%€0.005mwithin the sector's middle half▼ 79.4%€0.02mwithin the sector's middle half▲ 372%€0.02mwithin the sector's middle half▼ 19.4%
Equity€0.07m-€0.1mbelow the sector's middle half▲ 47.8%€0.1mbelow the sector's middle half▲ 10.8%€0.1mbelow the sector's middle half▲ 19.8%€0.1mbelow the sector's middle half▲ 3.4%€0.2mbelow the sector's middle half▲ 15.6%€0.2mbelow the sector's middle half▲ 10.9%
Total assets€2.5m-€2.5mwithin the sector's middle half▼ 1.8%€3.0mwithin the sector's middle half▲ 23.0%€5.5mwithin the sector's middle half▲ 83.0%€8.6mwithin the sector's middle half▲ 55.9%€11.9mwithin the sector's middle half▲ 38.1%€15.2mabove the sector's middle half▲ 28.0%
Debt€2.4m-€2.4m▼ 3.2%€2.9m▲ 23.6%€5.4m▲ 85.5%€8.5m▲ 57.2%€11.7m▲ 38.5%€15.0m▲ 28.3%
Working capital€0.07m-€0.1mwithin the sector's middle half▲ 47.8%€0.1mwithin the sector's middle half▲ 10.8%€0.1mwithin the sector's middle half▲ 19.8%€0.1mwithin the sector's middle half▲ 3.4%€0.2mwithin the sector's middle half▲ 15.6%€0.2mbelow the sector's middle half▲ 10.9%
Solvency2.8%-4.2%below the sector's middle half▲ 1.4pp3.8%below the sector's middle half▼ 0.4pp2.5%below the sector's middle half▼ 1.3pp1.6%below the sector's middle half▼ 0.8pp1.4%below the sector's middle half▼ 0.3pp1.2%below the sector's middle half▼ 0.2pp
Current ratio1.03-1.04below the sector's middle half▲ 0.021.04below the sector's middle half=1.03below the sector's middle half▼ 0.011.02below the sector's middle half▼ 0.011.01below the sector's middle half=1.01below the sector's middle half=
Return on assets (ROA)0.8%-1.3%within the sector's middle half▲ 0.6pp0.4%below the sector's middle half▼ 1.0pp0.4%below the sector's middle half=0.1%below the sector's middle half▼ 0.4pp0.2%within the sector's middle half▲ 0.1pp0.1%within the sector's middle half▼ 0.1pp
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 16% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €15.2m
Equity
€180,486 ▲ 10.9%
Debt
€15.0m ▲ 28.3%
Debt's share of the balance-sheet total rises from 98.6% to 98.8%. Equity and debt are higher.
Key figures and ratios
Debt to equity
83.38▲
2024 · 72.08
ROE
9.8%▼
2024 · 13.5%
Debt ≤ 1 year
€15.0m▲
2024 · €11.7m
Income taxes
€5,906▼
2024 · €7,324
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | €868 | - | - | €968 | - | - |
| Gross operating margin9900 | €51,504 | €62,920 | -€55,826 | €40,640 | €39,096 | €31,535 | €35,363 | ▲ 12.1% |
| Operating profit (loss)9901 | €51,504 | €62,920 | -€56,694 | €40,640 | €39,096 | €30,568 | €35,363 | ▲ 15.7% |
| Financial income75/76B | - | - | €85,751 | - | - | - | - | - |
| Recurring financial income75 | €1,192 | €71,590 | €85,751 | - | - | - | - | - |
| Financial charges65/66B | - | - | €14,234 | €10,576 | €28,401 | €1,270 | €11,738 | ▲ 824% |
| Recurring financial charges65 | €24,747 | €90,388 | €14,234 | €10,576 | €28,401 | €1,270 | €11,738 | ▲ 824% |
| Profit (loss) for the period before taxes9903 | €27,949 | €44,122 | €14,823 | €30,064 | €10,695 | €29,297 | €23,625 | ▼ 19.4% |
| Income taxes67/77 | €8,585 | €11,030 | €3,765 | €7,516 | €6,043 | €7,324 | €5,906 | ▼ 19.4% |
| Profit (loss) for the period9904 | €19,364 | €33,091 | €11,058 | €22,548 | €4,652 | €21,973 | €17,719 | ▼ 19.4% |
| Profit (loss) for the period to be appropriated9905 | €19,364 | €33,091 | €11,058 | €22,548 | €4,652 | €21,973 | €17,719 | ▼ 19.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.5m | €2.5m | €3.0m | €5.5m | €8.6m | €11.9m | €15.2m | ▲ 28.0% |
| Current assets29/58 | €2.5m | €2.5m | €3.0m | €5.5m | €8.6m | €11.9m | €15.2m | ▲ 28.0% |
| Amounts receivable within one year40/41 | €1.8m | €2.1m | €2.9m | €4.8m | €8.4m | €11.8m | €15.1m | ▲ 27.8% |
| Trade receivables40 | - | - | €2.9m | €4.8m | €8.4m | €11.8m | €15.1m | ▲ 27.8% |
| Other amounts receivable41 | - | - | €0.003m | €0.003m | €0.008m | €0.008m | €0.01m | ▲ 21.9% |
| Cash at bank and in hand54/58 | €0.7m | €0.3m | €0.1m | €0.7m | €0.2m | €0.08m | €0.1m | ▲ 62.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.5m | €2.5m | €3.0m | €5.5m | €8.6m | €11.9m | €15.2m | ▲ 28.0% |
| Equity10/15 | €0.07m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 10.9% |
| Contributions10/11 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Capital10 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Issued capital100 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Profit (loss) carried forward14 | €0.02m | €0.05m | €0.06m | €0.09m | €0.09m | €0.1m | €0.1m | ▲ 15.7% |
| Amounts payable17/49 | €2.4m | €2.4m | €2.9m | €5.4m | €8.5m | €11.7m | €15.0m | ▲ 28.3% |
| Amounts payable within one year42/48 | €2.4m | €2.4m | €2.9m | €5.4m | €8.5m | €11.7m | €15.0m | ▲ 28.3% |
| Trade debts44 | €2.4m | €2.3m | €2.9m | €5.4m | €8.5m | €11.7m | €15.0m | ▲ 28.2% |
| Suppliers440/4 | - | - | €2.9m | €5.4m | €8.5m | €11.7m | €15.0m | ▲ 28.2% |
| Taxes, remuneration and social security45 | - | - | €0.01m | €0.008m | €0.006m | €0.01m | €0.006m | ▼ 55.8% |
| Taxes450/3 | - | - | €0.01m | €0.008m | €0.006m | €0.01m | €0.006m | ▼ 55.8% |
| Other amounts payable47/48 | - | - | €0.009m | €0.02m | €134 | €134 | €0.01m | ▲ 101× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,364 | €33,091 | €11,058 | €22,548 | €4,652 | €21,973 | €17,719 | ▼ 19.4% |
| Operating cash flow (approximation) | €19,364 | €33,091 | €11,058 | €22,548 | €4,652 | €21,973 | €17,719 | ▼ 19.4% |
| Change in cash | - | -€361,818 | -€240,789 | €577,281 | -€500,496 | -€96,535 | €53,402 | - |
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, 143 companies had the same profile as SOBIDAL has now. Two years later, 95.8% were still going and 2.1% had gone bankrupt.
- Medium-sized
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
95.8%
was still going
2.1%
stopped otherwise
2.1%
went bankrupt
That fits the bankruptcy probability of SOBIDAL itself: 0.7% 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 143 companies, not a prediction for SOBIDAL. 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-08-2026 | 2026-00481714 | |
| 31-12-2024 | full format | 27-08-2025 | 2025-00469149 | |
| 31-12-2023 | full format | 21-08-2024 | 2024-00354958 | |
| 31-12-2022 | full format | 19-06-2023 | 2023-00134849 | |
| 31-12-2021 | full format | 27-07-2022 | 2022-20234536 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-29200471 | |
| 31-12-2019 | full format | 27-07-2020 | 2020-36100001 |