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SUBLIMMO

Active
Private limited companyfounded 198937 yrs activeMarcqstraat 11, 1000 Brussel, BelgiumKBO/BCE: BE 0438.231.449
Summary

SUBLIMMO has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €142,862 and a net result of €25,479. Equity is growing by ~13.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.4% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability80=
Solvency75▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.64 against 0.62 in 2023; short-term debt: 13.9% and cash: 5.7% of total assets), and 50.4% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 37 years 0 40 y
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-10-2025, 90 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
90 d late
2023
72 d late
2022
65 d late
2021
61 d late
2020
31 d late
2019
82 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 6 accounts on average 67 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 28 August 1989, SUBLIMMO was incorporated.1 Total assets went from EUR 254,835 in 2018 to EUR 288,038 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, micro schema

Turnover
€109,199
EBIT margin
1.7%
Net result
€25,479▼ 7.8%
2023 · €27,628
Working capital
-€14,430▼ 9.7%
2023 · -€13,155
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Turnover
Operating result€6,564▼ 73.5%€773▼ 88.2%€100,251▲ 12,868%€34,049▼ 66.0%€39,940▲ 17.3%
Net result€826▼ 94.8%-€7,595€73,507€27,628▼ 62.4%€25,479▼ 7.8%
EBIT margin
Equity€86,559▲ 1.0%€78,964▼ 8.8%€156,925▲ 98.7%€148,831▼ 5.2%€142,862▼ 4.0%
Total assets€246,692▼ 0.1%€226,684▼ 8.1%€272,050▲ 20.0%€306,359▲ 12.6%€288,038▼ 6.0%
Debt€160,133▼ 0.7%€147,720▼ 7.8%€96,823▼ 34.5%€141,545▲ 46.2%€131,097▼ 7.4%
Working capital-€6,519▼ 8,159%-€11,889▼ 82.4%€26,435-€13,155-€14,430▼ 9.7%
Result per fiscal year
Operating resultNet result
-€50,000€0€50,000€100,000Operating result 2020: €6,564€6,564Net result 2020: €826€826Operating result 2021: €773€773Net result 2021: -€7,595-€7,595Operating result 2022: €100,251€100,251Net result 2022: €73,507€73,507Operating result 2023: €34,049€34,049Net result 2023: €27,628€27,628Operating result 2024: €39,940€39,940Net result 2024: €25,479€25,47920202021202220232024€0€50,000€100,000Operating result 2022: €100,251€100,000Net result 2022: €73,507€73,500Operating result 2023: €34,049€34,000Net result 2023: €27,628€27,600Operating result 2024: €39,940€39,900Net result 2024: €25,479€25,500202220232024
The operating result recovers in 2024; 2024 is 17% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €288,038
Fixed assets €262,504 ▼ 8.0%
Current assets €25,534 ▲ 20.7%
Equity and liabilities €288,038
Equity €142,862 ▼ 4.0%
Provisions €14,079 ▼ 11.9%
Debt €131,097 ▼ 7.4%
Debt's share of the balance-sheet total falls from 46.2% to 45.5%. Equity and debt are lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€62,646▲
2023 · €52,008
Cash flow
€48,185▲
2023 · €45,586
Current ratio
0.64▲
2023 · 0.62
Debt to equity
0.92▼
2023 · 0.95
ROE
17.8%▼
2023 · 18.6%
ROA
8.8%▼
2023 · 9.0%
Interest coverage
15.38▼
2023 · 15.38
Debt ≤ 1 year
€39,965▲
2023 · €34,304
Debt > 1 year
€91,132▼
2023 · €107,241
Income taxes
€12,424▲
2023 · €5,599
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.4% went bankrupt
5.9% stopped otherwise
93% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 1.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 47 lines
Balance sheet Code20232024
Assets
Total assets20/58€306,359€288,038▼
Fixed assets21/28€285,210€262,504▼
Tangible fixed assets22/27€285,079€262,373▼
Land and buildings22€285,007€262,373▼
Furniture and vehicles24€71-
Financial fixed assets28€131€131=
Current assets29/58€21,149€25,534▲
Amounts receivable after more than one year29€14,842€7,999▼
Trade receivables290€14,842€7,999▼
Cash at bank and in hand54/58€5,395€16,504▲
Deferred charges and accrued income490/1€912€1,031▲
Equity and liabilities
Total equity and liabilities10/49€306,359€288,038▼
Equity10/15€148,831€142,862▼
Reserves13€62,951€57,237▼
Tax-exempt reserves132€47,951€42,237▼
Distributable reserves133€15,000€15,000=
Profit (loss) carried forward14€85,880€85,625▼
Provisions and deferred taxes16€15,984€14,079▼
Deferred taxes168€15,984€14,079▼
Amounts payable17/49€141,545€131,097▼
Amounts payable after more than one year17€107,241€91,132▼
Financial debts170/4€103,716€87,607▼
Other amounts payable178/9€3,525€3,525=
Amounts payable within one year42/48€34,304€39,965▲
Current portion of amounts payable after more than one year42€18,189€18,897▲
Trade debts44€9,750€7,210▼
Suppliers440/4€9,750€7,210▼
Taxes, remuneration and social security45€6,365€13,858▲
Taxes450/3€6,365€13,858▲
Income statement Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17,958€22,706▲
Other operating charges640/8€5,590€7,629▲
Gross operating margin9900€57,598€70,275▲
Operating profit (loss)9901€34,049€39,940▲
Financial income75/76B€239€132▼
Recurring financial income75€239€132▼
Financial charges65/66B€3,381€4,074▲
Recurring financial charges65€3,381€4,074▲
Profit (loss) for the period before taxes9903€30,908€35,998▲
Transfer from deferred taxes780€2,319€1,904▼
Income taxes67/77€5,599€12,424▲
Profit (loss) for the period9904€27,628€25,479▼
Transfer from tax-exempt reserves789€6,957€5,713▼
Profit (loss) for the period to be appropriated9905€34,585€31,192▼
Appropriation of the result
Profit (loss) to be appropriated9906€88,880€117,072▲
Profit (loss) brought forward from the previous period14P€54,295€85,880▲
Profit to be distributed694/7€3,000€31,447▲
Return on contributions (dividend)694€3,000€31,447▲

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17,502€18,499€10,136€17,958€22,706▲ 26.4%
Other operating charges640/8-€6,432€10,453€5,590€7,629▲ 36.5%
Gross operating margin9900€31,228€25,704€120,840€57,598€70,275▲ 22.0%
Operating profit (loss)9901€6,564€773€100,251€34,049€39,940▲ 17.3%
Financial income75/76B-€288€559€239€132▼ 44.7%
Recurring financial income75€288€288€559€239€132▼ 44.7%
Financial charges65/66B-€5,215€5,559€3,381€4,074▲ 20.5%
Recurring financial charges65€6,027€5,215€5,559€3,381€4,074▲ 20.5%
Profit (loss) for the period before taxes9903€826-€4,153€95,251€30,908€35,998▲ 16.5%
Transfer from deferred taxes780--€742€2,319€1,904▼ 17.9%
Transfer to deferred taxes680--€19,045---
Income taxes67/77-€3,442€3,442€5,599€12,424▲ 122%
Profit (loss) for the period9904€826-€7,595€73,507€27,628€25,479▼ 7.8%
Transfer from tax-exempt reserves789--€2,226€6,957€5,713▼ 17.9%
Transfer to tax-exempt reserves689--€57,134---
Profit (loss) for the period to be appropriated9905€826-€7,595€18,599€34,585€31,192▼ 9.8%
Line20202021202220232024Change
Assets
Total assets20/58€246,692€226,684€272,050€306,359€288,038▼ 6.0%
Fixed assets21/28€224,795€207,824€226,205€285,210€262,504▼ 8.0%
Tangible fixed assets22/27€224,664€207,693€226,074€285,079€262,373▼ 8.0%
Land and buildings22-€206,603€225,493€285,007€262,373▼ 7.9%
Furniture and vehicles24-€1,090€581€71--
Financial fixed assets28€131€131€131€131€131=
Current assets29/58€21,897€18,859€45,845€21,149€25,534▲ 20.7%
Amounts receivable after more than one year29-€17,440€35,643€14,842€7,999▼ 46.1%
Trade receivables290-€17,440€35,643€14,842€7,999▼ 46.1%
Cash at bank and in hand54/58€3,297€1,419€9,399€5,395€16,504▲ 206%
Deferred charges and accrued income490/1--€803€912€1,031▲ 13.0%
Equity and liabilities
Total equity and liabilities10/49€246,692€226,684€272,050€306,359€288,038▼ 6.0%
Equity10/15€86,559€78,964€156,925€148,831€142,862▼ 4.0%
Contributions10/11-€29,747€29,747---
Reserves13€2,975€2,975€72,882€62,951€57,237▼ 9.1%
Non-distributable reserves130/1-€2,975€2,975---
Reserves not available under the articles1311-€2,975€2,975---
Tax-exempt reserves132--€54,908€47,951€42,237▼ 11.9%
Distributable reserves133--€15,000€15,000€15,000=
Profit (loss) carried forward14€53,837€46,242€54,295€85,880€85,625▼ 0.3%
Provisions and deferred taxes16--€18,303€15,984€14,079▼ 11.9%
Deferred taxes168--€18,303€15,984€14,079▼ 11.9%
Amounts payable17/49€160,133€147,720€96,823€141,545€131,097▼ 7.4%
Amounts payable after more than one year17€131,607€116,971€77,413€107,241€91,132▼ 15.0%
Financial debts170/4-€113,446€73,888€103,716€87,607▼ 15.5%
Other amounts payable178/9-€3,525€3,525€3,525€3,525=
Amounts payable within one year42/48€28,416€30,749€19,410€34,304€39,965▲ 16.5%
Current portion of amounts payable after more than one year42-€18,427€14,891€18,189€18,897▲ 3.9%
Trade debts44€12,507€12,322€4,519€9,750€7,210▼ 26.1%
Suppliers440/4-€12,322€4,519€9,750€7,210▼ 26.1%
Taxes, remuneration and social security45---€6,365€13,858▲ 118%
Taxes450/3---€6,365€13,858▲ 118%
Line20202021202220232024Change
Profit (loss) for the period9904€826-€7,595€73,507€27,628€25,479▼ 7.8%
+ Depreciation and write-downs630€17,502€18,499€10,136€17,958€22,706▲ 26.4%
Operating cash flow (approximation)€18,328€10,903€83,643€45,586€48,185▲ 5.7%
Investment in fixed assets (approximation)--€1,528-€28,517-€76,964€0▲ 100%
Change in cash--€1,878€7,980-€4,004€11,109▲ 377%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
29-10
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 90 days late
2024
11-10
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 72 days late
2023
04-10
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 65 days late
2022
31-12
Financial Back to profitnet €73,507
Net result €73,507 after one loss-making year.
31-12
Financial Liquidity quadruplescurrent ratio 2.36
Current ratio from 0.61 to 2.36; short-term debt falls from €30,749 to €19,410.
31-12
Financial Equity above €150,000Eq €156,925 ▲98.7%
Equity rises from €78,964 to €156,925.
30-09
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-08
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
21-10
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 82 days late
2019
31-12
Financial Back to profitnet €16,030
Net result €16,030 after one loss-making year.
24-09
NBB filing Annual accounts filed
fiscal year 2018 · full schema · 55 days late
2018
30-08
NBB filing Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
10-11
NBB filing Annual accounts filed
fiscal year 2016 · full schema · 102 days late
2016
08-11
NBB filing Annual accounts filed
fiscal year 2015 · full schema · 100 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 1989
seat establishment The establishment unit on the map
Ground area
401 m²
Building footprint
118 m²
Volume, LiDAR
1,313 m³
Parcel 21812N1193/00D000, Brussels · tallest building 17.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Marcqstraat 11 1, 1000 Brussel
NACE 70201
since 19892.044.953.208
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21812N1193/00D000
ProtectedSite or landscapeTuinen van het Pacheco InstituutSource ↗
Brussels 401 m² 1 · 118 m² 17.1 m · 5 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.

Identification & contact

Identification
Legal formPrivate limited company
Founded28-08-1989
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.