SUBCON
ActiveSummary
SUBCON has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €970,225 and a net result of -€101,831. Equity has been shrinking by about 2.9% per year since 2018. Its solvency ranks better than 54% of 384 sector peers (NACE 28, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-09-1990 Normal situation
- Registered office
- 12 active companies are registered at this address Source: KBO register, as of 2 November 2026.
- Activity
- Manufacture of machinery and equipment not elsewhere classified NACE 28990and 1 other
- Joint committee
- 111 Paritair Comité voor de metaal-, machine- en elektrische bouw · annual accounts 2025
- Establishment unit
- 2.102.809.748 8870 Izegem, since 18-03-1991
- Financial year end
- 31 December
- Peppol
- Reachable
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts 2025
- Turnover
- €3.4m
- ▼ 3.7%
- Loss
- €101,831
- Equity
- €970,225
- ▼ 9.5%
- Total assets
- €2.2m
- ▼ 15.6%
- Employees on 31-12-2025
- 33
- ▼ 8.3%
Filed on 10-06-2026, 51 days before the deadline
Score breakdownraises riskSize: turnover €3.4m, 33.5 FTE, total assets €2.2mLoss of €101,831 (financial year 2025)Liquidity: current ratio 1.34, cash €16,038, halvedlowers riskFounded in 1990Show the evidence
Checked score
Score 2025
80
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 37% of small companies in machinery and equipment (NACE 28)
Financial strength · tick: 2024
Average
Solvency
68+3
equity 43.2% of total assets
Liquidity
38-28
short-term debt 30.6% · cash 0.7%
Profitability
49-15
return on assets -4.5%
Bankruptcy probability within 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.6%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 0.1%▼ -0.5 percentage points vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.2%▲ +0.1 percentage points vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.5%▲ +0.3 percentage points vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Credit of up to €75,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.34 (1.46 in 2024), below the usual 1.5. Short-term debt is 30.6% and cash 0.7% of total assets. 56.8% of the assets are financed with debt and provisions.
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 28, small). It does better than 51% of them on solvency, 38% on liquidity, 27% on profitability and 32% on growth.
The bankruptcy probability was computed on 01-11-2026 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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 days early
2024
16 days early
2023
41 days early
2022
53 days early
2021
52 days early
2020
17 days early
2019
37 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 38 days before the deadline. In the sector (NACE 28), the median for financial year 2024 was 11 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 10 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 10-06-2026 PDF all 35 filings
Turnover
€3.4m▼ 3.7%
2024 · €3.5m
EBIT margin
-2.2%▼ 3.6pp
2024 · 1.3%
Net result
-€101,831
2024 · €5,868
Working capital
€232,119▼ 34.8%
2024 · €356,082
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €75,717, after a profit of €45,998 in 2024.
Turnover€3.4m
2025
Operating result-€0.08m
2025
Net result-€0.1m
2025
Total assets€2.2m
2025
Equity€1.0m
2025
Debt€1.3m
2025
Working capital€0.2m
2025
EBIT margin-2.2%
2025
Return on assets (ROA)-4.5%
2025
Solvency43.2%
2025
Current ratio1.34
2025
Staff (FTE)33.5
2025
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 Manufacture of machinery and equipment not elsewhere classified (NACE 28). 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€3.3m-€3.5m▲ 6.1%€3.0m▼ 13.6%€2.9m▼ 3.1%€3.3m▲ 12.1%€3.5m▲ 6.1%€3.5m▲ 0.3%€3.4m▼ 3.7%
Operating result€0.02m-€0.02m▼ 23.5%-€0.2m-€0.1m▲ 46.9%€0.1m€0.06m▼ 49.4%€0.05m▼ 26.2%-€0.08m
Net result€0.01m-€0.01m▼ 2.8%-€0.2mbelow the sector's middle half-€0.1mbelow the sector's middle half▲ 45.8%€0.1mwithin the sector's middle half€0.03mwithin the sector's middle half▼ 75.4%€0.006mbelow the sector's middle half▼ 79.7%-€0.1mbelow the sector's middle half
EBIT margin0.7%-0.5%▼ 0.2pp-6.8%▼ 7.3pp-3.7%▲ 3.1pp3.7%▲ 7.5pp1.8%▼ 2.0pp1.3%▼ 0.5pp-2.2%▼ 3.6pp
Equity€1.2m-€1.2m▲ 0.8%€1.0mwithin the sector's middle half▼ 16.9%€0.9mwithin the sector's middle half▼ 11.0%€1.0mwithin the sector's middle half▲ 12.8%€1.1mwithin the sector's middle half▲ 2.8%€1.1mwithin the sector's middle half▲ 0.6%€1.0mwithin the sector's middle half▼ 9.5%
Total assets€1.9m-€2.5m▲ 27.5%€2.2mwithin the sector's middle half▼ 11.3%€1.9mwithin the sector's middle half▼ 12.3%€2.0mwithin the sector's middle half▲ 4.3%€2.9mwithin the sector's middle half▲ 46.0%€2.7mwithin the sector's middle half▼ 9.5%€2.2mwithin the sector's middle half▼ 15.6%
Debt€0.7m-€1.2m▲ 88.4%€1.2m▼ 6.2%€1.0m▼ 13.1%€1.0m▼ 3.2%€1.9m▲ 92.1%€1.6m▼ 15.2%€1.3m▼ 19.7%
Working capital€0.6m-€0.6m▲ 11.8%€0.6mwithin the sector's middle half▼ 6.2%€0.6mwithin the sector's middle half▲ 3.5%€0.7mwithin the sector's middle half▲ 13.8%€0.4mwithin the sector's middle half▼ 40.5%€0.4mwithin the sector's middle half▼ 13.1%€0.2mwithin the sector's middle half▼ 34.8%
Solvency63.5%-50.2%▼ 13.3pp47.0%within the sector's middle half▼ 3.2pp47.7%within the sector's middle half▲ 0.7pp51.5%within the sector's middle half▲ 3.9pp36.3%within the sector's middle half▼ 15.3pp40.3%within the sector's middle half▲ 4.0pp43.2%within the sector's middle half▲ 2.9pp
Current ratio1.85-1.79▼ 0.061.80within the sector's middle half▲ 0.011.93within the sector's middle half▲ 0.121.99within the sector's middle half▲ 0.061.46within the sector's middle half▼ 0.531.46within the sector's middle half=1.34within the sector's middle half▼ 0.12
Return on assets (ROA)0.6%-0.4%▼ 0.1pp-9.6%below the sector's middle half▼ 10.0pp-5.9%below the sector's middle half▲ 3.7pp5.8%within the sector's middle half▲ 11.8pp1.0%within the sector's middle half▼ 4.9pp0.2%below the sector's middle half▼ 0.8pp-4.5%below the sector's middle half▼ 4.8pp
Staff (FTE)38.9-40.7▲ 4.6%40.6within the sector's middle half▼ 0.2%37.1within the sector's middle half▼ 8.6%33.5within the sector's middle half▼ 9.7%33.4within the sector's middle half▼ 0.3%35.1within the sector's middle half▲ 5.1%33.5within the sector's middle half▼ 4.6%
above
within
below
The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.3m ▼ 13.2%
Current assets
€920,410 ▼ 18.7%
Equity and liabilities €2.2m
Equity
€970,225 ▼ 9.5%
Debt
€1.3m ▼ 19.7%
Debt's share of the balance-sheet total falls from 59.7% to 56.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€180,145▼
2024 · €289,682
Cash flow
€154,030▼
2024 · €249,552
Debt to equity
1.32▼
2024 · 1.48
ROE
-10.5%▼
2024 · 0.5%
Interest coverage
4.70▼
2024 · 6.56
Debt ≤ 1 year
€688,291▼
2024 · €776,160
Debt > 1 year
€587,732▼
2024 · €812,284
Customer credit
35 days▼
2024 · 53 days
Supplier credit
279 days▼
2024 · 288 days
Staff costs
€2.6m▼
2024 · €2.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 36 | 34 | 36 | 36 | 33 |
| full-time | 34 | 31 | 33 | 34 | 31 |
| part-time | 2 | 3 | 3 | 2 | 2 |
| in full-time equivalents | 35.1 | 33 | 34.6 | 35 | 32 |
| Average over the year, in full-time equivalents | 37.1 | 33.5 | 33.4 | 35.1 | 33.5 |
| On a permanent contract | 36 | 34 | 36 | 36 | 33 |
| Joined | 1 | 3 | 3 | 2 | 0 |
| Left | 5 | 5 | 1 | 2 | 3 |
| Agency workers, average number | 0.3 | 1 | 1.4 | 0.6 | - |
| Training hours | 1,569 | 1,336 | 1,644 | 1,296 | 412 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €21,795 | €135,092 | €1.2m | €142,097 | €53,441 |
| Depreciation and write-downs of the year | €237,448 | €180,720 | €177,369 | €243,684 | €255,862 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as SUBCON: manufacture of machinery and equipment not elsewhere classified (NACE 28990). They are comparable in size and age: total assets between €1.2m and €10m, founded between 1974 and 2013.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| SUBCON Izegem | 1990 | €2.2m | €1.0m | - | €3.4m | -€0.1m | 33.5 | 2025 |
| Komax Belgium Beerse | 1996 | €5.5m | €1.6m | - | €8.9m | -€1.9m | 41.2 | 2025 |
| LYSAIR Wielsbeke | 1974 | €7.5m | €3.4m | - | €11.9m | €0.3m | 43.5 | 2025 |
| LAMBRECHTS KONSTRUKTIE Puurs-Sint-Amands | 1986 | €10.3m | €3.7m | - | €7.9m | -€0.6m | 36.2 | 2025 |
| Team Industries Distribution Center Evergem | 1985 | €1.2m | €0.6m | - | €2.5m | €0.02m | - | 2025 |
| DERPATECH Nivelles | 2013 | €1.8m | €0.8m | - | €4.3m | €0.03m | 20.9 | 2025 |
| TECHNIC ONE Thimister-Clermont | 1983 | €3.4m | -€0.5m | -€0.5m | - | -€4.5m | 29.6 | 2025 |
They were chosen from the 273 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 8,617 companies had the same profile as SUBCON has now. Two years later, 0.4% had gone bankrupt and 94.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94.2%
was still going
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SUBCON itself: 0.5% 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 8,617 companies, not a prediction for SUBCON. 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.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €2.9m | €3.3m | €3.5m | €3.5m | €3.4m | ▼ 4.2% |
| Turnover70 | €3.3m | €3.5m | €3.0m | €2.9m | €3.3m | €3.5m | €3.5m | €3.4m | ▼ 3.7% |
| Other operating income74 | - | - | - | €0.007m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 55.1% |
| Non-recurring operating income76A | - | - | - | €0.003m | - | - | - | - | - |
| Operating charges60/66A | - | - | - | €3.1m | €3.2m | €3.4m | €3.5m | €3.5m | ▼ 0.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | €0.09m | ▼ 0.6% |
| Purchases600/8 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | €0.09m | ▼ 0.6% |
| Services and other goods61 | - | - | - | €0.5m | €0.5m | €0.6m | €0.5m | €0.5m | ▼ 3.5% |
| Remuneration, social security and pensions62 | - | - | - | €2.2m | €2.4m | €2.5m | €2.6m | €2.6m | ▼ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 5.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.003m | -€0.003m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.002m | ▲ 3.2% |
| Operating profit (loss)9901 | €0.02m | €0.02m | -€0.2m | -€0.1m | €0.1m | €0.06m | €0.05m | -€0.08m | - |
| Financial income75/76B | - | - | - | €0.005m | €0.003m | €0.004m | €0.005m | €0.01m | ▲ 155% |
| Recurring financial income75 | €82 | €0.004m | €0.006m | €0.005m | €0.003m | €0.004m | €0.005m | €0.01m | ▲ 155% |
| Income from current assets751 | - | - | - | €0.005m | €0.003m | €0.004m | €0.005m | €0.01m | ▲ 155% |
| Financial charges65/66B | - | - | - | €0.009m | €0.009m | €0.04m | €0.05m | €0.04m | ▼ 13.0% |
| Recurring financial charges65 | €0.002m | €0.006m | €0.01m | €0.009m | €0.009m | €0.04m | €0.05m | €0.04m | ▼ 13.0% |
| Debt charges650 | €0.001m | €0.005m | €0.009m | €0.008m | €0.008m | €0.04m | €0.04m | €0.04m | ▼ 13.1% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 7.2% |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.01m | -€0.2m | -€0.1m | €0.1m | €0.03m | €0.006m | -€0.1m | - |
| Income taxes67/77 | €0.009m | €0.004m | -€216 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.01m | €0.01m | -€0.2m | -€0.1m | €0.1m | €0.03m | €0.006m | -€0.1m | - |
| Profit (loss) for the period to be appropriated9905 | €0.01m | €0.01m | -€0.2m | -€0.1m | €0.1m | €0.03m | €0.006m | -€0.1m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.9m | €2.5m | €2.2m | €1.9m | €2.0m | €2.9m | €2.7m | €2.2m | ▼ 15.6% |
| Fixed assets21/28 | €0.7m | €1.1m | €0.9m | €0.7m | €0.6m | €1.6m | €1.5m | €1.3m | ▼ 13.2% |
| Tangible fixed assets22/27 | €0.7m | €1.1m | €0.9m | €0.7m | €0.6m | €1.6m | €1.5m | €1.3m | ▼ 13.2% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.3m | €0.4m | €0.3m | ▼ 10.6% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.02m | €0.01m | €0.009m | €0.008m | ▼ 8.3% |
| Leasing and similar rights25 | - | - | - | €0.4m | €0.4m | €1.2m | €1.1m | €0.9m | ▼ 13.9% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.08m | €0.07m | €0.08m | €0.07m | ▼ 17.1% |
| Current assets29/58 | €1.2m | €1.4m | €1.3m | €1.3m | €1.4m | €1.3m | €1.1m | €0.9m | ▼ 18.7% |
| Amounts receivable within one year40/41 | €0.8m | €0.6m | €1.0m | €0.5m | €0.5m | €1.1m | €0.5m | €0.9m | ▲ 68.9% |
| Trade receivables40 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.3m | ▼ 36.7% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.01m | €0.6m | €0.02m | €0.6m | ▲ 28× |
| Cash at bank and in hand54/58 | €0.4m | €0.8m | €0.3m | €0.8m | €0.9m | €0.2m | €0.6m | €0.02m | ▼ 97.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.006m | €0.007m | €0.006m | €0.006m | ▼ 2.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.9m | €2.5m | €2.2m | €1.9m | €2.0m | €2.9m | €2.7m | €2.2m | ▼ 15.6% |
| Equity10/15 | €1.2m | €1.2m | €1.0m | €0.9m | €1.0m | €1.1m | €1.1m | €1.0m | ▼ 9.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.2m | €1.2m | €1.0m | €0.9m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 10.1% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.9m | €0.9m | €0.9m | €0.8m | ▼ 10.7% |
| Provisions and deferred taxes16 | €0.06m | €498 | €0.006m | €0.003m | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.003m | - | - | - | - | - |
| Pensions and similar obligations160 | - | - | - | €0.003m | - | - | - | - | - |
| Amounts payable17/49 | €0.7m | €1.2m | €1.2m | €1.0m | €1.0m | €1.9m | €1.6m | €1.3m | ▼ 19.7% |
| Amounts payable after more than one year17 | - | €0.5m | €0.4m | €0.4m | €0.3m | €1.0m | €0.8m | €0.6m | ▼ 27.6% |
| Financial debts170/4 | - | - | - | €0.4m | €0.3m | €1.0m | €0.8m | €0.6m | ▼ 27.6% |
| Leasing and similar obligations172 | - | - | - | €0.4m | €0.3m | €1.0m | €0.8m | €0.6m | ▼ 27.4% |
| Credit institutions173 | - | - | - | - | - | - | €0.04m | €0.03m | ▼ 32.6% |
| Amounts payable within one year42/48 | €0.7m | €0.8m | €0.7m | €0.7m | €0.7m | €0.9m | €0.8m | €0.7m | ▼ 11.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.08m | €0.2m | €0.2m | €0.2m | ▲ 2.6% |
| Financial debts43 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.06m | ▼ 74.2% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.06m | ▼ 74.2% |
| Trade debts44 | €0.09m | €0.08m | €0.06m | €0.03m | €0.05m | €0.1m | €0.07m | €0.07m | ▼ 3.7% |
| Suppliers440/4 | - | - | - | €0.03m | €0.05m | €0.1m | €0.07m | €0.07m | ▼ 3.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.4m | €0.3m | €0.2m | €0.3m | ▲ 35.0% |
| Taxes450/3 | - | - | - | €0.06m | €0.06m | €0.06m | - | €0.07m | - |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 6.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | €0.01m | -€0.2m | -€0.1m | €0.1m | €0.03m | €0.006m | -€0.1m | - |
| + Depreciation and write-downs630 | €0.2m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 5.0% |
| Operating cash flow (approximation) | €0.2m | €0.3m | €0.08m | €0.1m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 38.3% |
| Investment in fixed assets (approximation) | - | -€0.7m | -€0.1m | -€0.02m | -€0.1m | -€1.2m | -€0.1m | -€0.05m | ▲ 62.4% |
| Change in cash | - | €0.4m | -€0.5m | €0.5m | €0.1m | -€0.7m | €0.4m | -€0.6m | - |
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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-06-2026 | 2026-00153308 | |
| 31-12-2024 | full format | 15-07-2025 | 2025-00276017 | |
| 31-12-2023 | full format | 20-06-2024 | 2024-00149321 | |
| 31-12-2022 | full format | 08-06-2023 | 2023-00120543 | |
| 31-12-2021 | full format | 09-06-2022 | 2022-20057258 | |
| 31-12-2020 | full format | 14-07-2021 | 2021-35200387 | |
| 31-12-2019 | full format | 24-06-2020 | 2020-20400032 | |
| 31-12-2018 | full format | 20-06-2019 | 2019-20200451 | |
| 31-12-2017 | full format | 28-03-2018 | 2018-08000425 | |
| 30-09-2016 | full format | 16-03-2017 | 2017-06300592 |
Board & ownership
Directors
Directors
2 directors, 2 in day-to-day management, last change in 2025
Board 2
BOUTECH
Current
Voorzitter van raad van bestuur · in office according to the act of 10-07-2023 · Director · in office according to the act of 10-07-2023 · Private limited company (pre-2019) · permanent representative: Bart BOUCHERIE · also on the board of 2 other companies · listed in the 2025 annual accounts, filed on 10-06-2026
MASEKA
Current
Director · in office according to the act of 10-07-2023 · Private limited company · permanent representative: Lisa BOUCHERIE · also on the board of 4 other companies · listed in the 2025 annual accounts, filed on 10-06-2026
Day-to-day management 2
MASEKA
Current
Managing director · appointed in the act of 10-07-2023 · Private limited company · permanent representative: Lisa BOUCHERIE
BOUTECH
Current
Managing director · in office according to the act of 10-07-2023 · Private limited company (pre-2019) · permanent representative: Bart BOUCHERIE
Permanent representatives 2
Bart BOUCHERIE
Current
Permanent representative · in office according to the act of 10-07-2023 · for BOUTECH
Lisa BOUCHERIE
Current
Permanent representative · in office according to the act of 10-07-2023 · for MASEKA
Signing authorityThe articles say who may bind the company, for example by signing a contract.
A managing director alone
deed of 10-07-2023Owners and capital
Shareholders
1 ownerChain of control
- B.B.M. II
- SUBCON
Owners 1
- B.B.M. IIparentSourceaccounts B.B.M. II 2025Equity €5.2m Loss of €3.0m in 2025 (loss of €4.0m in 2024)100%
Capital transactions
Shareholders according to the deeds
Stated in the act
act of 10-07-2023 ↗
- enige aandeelhouder all shares
Capital over time
- 10-07-2023 Capital stated in the deed · €62,000
Mandate history
3 people, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| BOUTECH |
|
| MASEKA |
|
| Leonel BOUCHERIE |
|
Network & group
Companies at the same address
11 other companies- qTube Establishment · since 2025 0760988259
- PELOGON Registered office · since 2017 0684722703
- B.B.M. II Registered office · since 2014 0551946133
- BTW- EENHEID BOUCHERIE Registered office · since 2010 0823410135
- SPIRIT Registered office · since 2000 0473039207
- GB BOUCHERIE Registered office · since 1996 0457578890
- L.B.I. Registered office · since 1996 0457579880
- BOUVAN Establishment · since 1988 0434731927
- G.B.O. GEREEDSCHAPPEN Registered office · since 1987 0431100662
- Macome Registered office · since 1968 0406162952
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
G.B.O. GEREEDSCHAPPEN
Shared corporate director
→
GB BOUCHERIE
Shared corporate director
→
L.B.I.
Shared corporate director
→
Macome
Shared corporate director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
10-06
full format · 51 days before the deadline
2025
08-09
Gazette deed
Resignation: Leonel BOUCHERIE (director and managing director)Permanent representative: Bart BOUCHERIE4 points ▸
Gazette deed
Resignation: Leonel BOUCHERIE (director and managing director)
Permanent representative: Bart BOUCHERIE4 points ▸
- General meeting, 27-06-2025
- Director resignation, Leonel BOUCHERIE (director and managing director)
- Permanent representative, Bart BOUCHERIE
- Director in office, Bart BOUCHERIE (managing director)
15-07
full format · 16 days before the deadline
2024
20-06
full format · 41 days before the deadline
2023
10-07
Gazette deed
Reappointments: BOUTECH, Leonel BOUCHERIE and MASEKAPermanent representatives: Bart BOUCHERIE and Lisa BOUCHERIE · Appointment: MASEKA (managing director) · Purpose change15 points ▸
Gazette deed
Reappointments: BOUTECH, Leonel BOUCHERIE and MASEKA
Permanent representatives: Bart BOUCHERIE and Lisa BOUCHERIE · Appointment: MASEKA (managing director) · Purpose change15 points ▸
- General meeting, 26-06-2023
- Other provision, “zeteladres buiten statuten opnemen, Stuivenbergstraat 106,8870 Izegem” (deed in Dutch)
- Purpose change
- Amendment of the articles, mentioned 2 times in the deed
- Capital, €62,000
- Director reappointment, BOUTECH (director)
- Director reappointment, Leonel BOUCHERIE (director)
- Director reappointment, MASEKA (director)
- Permanent representative, Bart BOUCHERIE
- Permanent representative, Lisa BOUCHERIE
- Director reappointment, BOUTECH (managing director)
- Director reappointment, Leonel BOUCHERIE (managing director)
- The act holds 3 more points.
08-06
full format · 53 days before the deadline
2022
31-12
Financial
Back to profitnet €117,500
The net result is €117,500, after 2 loss-making years.
31-12
Financial
Equity above €1mequity €1.0m ▲12.8%
Equity rises from €919,738 to €1.0m.
09-06
full format · 52 days before the deadline
2021
14-07
full format · 17 days before the deadline
2020
31-12
Financial
Weakest financial yearnet -€210,757
The net result drops to -€210,757, the lowest from 2018 to 2025. It recovers the following year.
24-06
full format · 37 days before the deadline
Show earlier events
2019
20-06
full format · 41 days before the deadline
2018
28-03
full format · 125 days before the deadline
2017
16-03
full format · 45 days before the deadline
1990
12-10
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
SUBCON in Dutch
Enterprise number
0441.857.269
Legal form
Public limited company
Status
Active, normale toestand
Founded
21-09-1990
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 10-07-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaamse Gewest”
deed of 10-07-2023 (in Dutch)Registered office and establishments
Registered office
Stuivenbergstraat 106, 8870 Izegem, Belgium
Establishment unit
SUBCON NV, Stuivenbergstraat 106, 8870 Izegem since 18-03-1991 · unit number 2.102.809.748
Activities
NACEBEL 2025VAT activities
28990
Manufacture of machinery and equipment not elsewhere classified main activity
25530
Machining of metals
Social security (RSZ) activities
25530
Machining of metals main activity
Codes under NACEBEL 2008
VAT activities
28990
Manufacture of machinery and equipment not elsewhere classified main activity
25620
Manufacture of fabricated metal products, except machinery and equipment
Social security (RSZ) activities
25620
Manufacture of fabricated metal products, except machinery and equipment main activity
Codes under NACEBEL 2003
VAT activities
28520
main activity
Social security (RSZ) activities
28520
main activity
Joint committee
111 Paritair Comité voor de metaal-, machine- en elektrische bouw annual accounts 2025
Invoicing and payment
VAT number
BE 0441.857.269
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of June at 09:30
deed of 10-07-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
1.2 ha
Building footprint
6,373 m²
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36494D0087/00F002 | Flanders | 1.2 ha | 1 · 6,372 m² | - |