SUBLO
ActiveSummary
SUBLO has been active since 1988 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags). The 2024 annual accounts show equity of €199,510 and a net result of €35,248. Equity is growing by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 79% of 36381 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability85▲+17
Solvency98▲+7
Growth82▲+10
Track record92
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 4.09 against 3.8 in 2023; short-term debt: 22.9% and cash: 7.6% of total assets), and 26.8% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 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 filingsDeviation from the deadline
2025
not confirmed
2024
30 d late
2023
152 d late
2022
71 d late
2021
91 d late
2020
92 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 93 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
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Financials · fiscal year 2024, micro schema
Turnover
€337,553▲ 48.4%
2023 · €227,430
EBIT margin
13.8%▲ 8.7pp
2023 · 5.1%
Net result
€35,248▲ 299%
2023 · €8,845
Working capital
€192,672▲ 18.7%
2023 · €162,383
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€177,930€225,580▲ 26.8%€229,646▲ 1.8%€227,430▼ 1.0%€337,553▲ 48.4%
Operating result€15,154▼ 5.1%€24,720▲ 63.1%€15,845▼ 35.9%€11,619▼ 26.7%€46,474▲ 300%
Net result€11,465within the sector's middle half▼ 7.8%€18,501within the sector's middle half▲ 61.4%€10,720within the sector's middle half▼ 42.1%€8,845within the sector's middle half▼ 17.5%€35,248above the sector's middle half▲ 299%
EBIT margin8.5%11.0%▲ 2.4pp6.9%▼ 4.1pp5.1%▼ 1.8pp13.8%▲ 8.7pp
Equity€126,197above the sector's middle half▲ 10.0%€144,697above the sector's middle half▲ 14.7%€155,418above the sector's middle half▲ 7.4%€164,262above the sector's middle half▲ 5.7%€199,510above the sector's middle half▲ 21.5%
Total assets€249,420within the sector's middle half▲ 7.8%€248,333within the sector's middle half▼ 0.4%€261,714within the sector's middle half▲ 5.4%€247,190within the sector's middle half▼ 5.5%€272,414within the sector's middle half▲ 10.2%
Debt€123,223▲ 5.6%€103,636▼ 15.9%€106,297▲ 2.6%€82,928▼ 22.0%€72,904▼ 12.1%
Working capital€116,808above the sector's middle half▲ 10.3%€137,413above the sector's middle half▲ 17.6%€152,492above the sector's middle half▲ 11.0%€162,383above the sector's middle half▲ 6.5%€192,672above the sector's middle half▲ 18.7%
Solvency50.6%within the sector's middle half▲ 1.0pp58.3%within the sector's middle half▲ 7.7pp59.4%within the sector's middle half▲ 1.1pp66.5%within the sector's middle half▲ 7.1pp73.2%above the sector's middle half▲ 6.8pp
Current ratio2.09within the sector's middle half▲ 0.192.50within the sector's middle half▲ 0.413.07above the sector's middle half▲ 0.573.80above the sector's middle half▲ 0.744.09above the sector's middle half▲ 0.28
Return on assets (ROA)4.6%within the sector's middle half▼ 0.8pp7.4%within the sector's middle half▲ 2.9pp4.1%within the sector's middle half▼ 3.4pp3.6%within the sector's middle half▼ 0.5pp12.9%within the sector's middle half▲ 9.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 300% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €272,414
Fixed assets
€17,366 ▼ 35.4%
Current assets
€255,048 ▲ 15.8%
Equity and liabilities €272,414
Equity
€199,510 ▲ 21.5%
Debt
€72,904 ▼ 12.1%
Debt's share of the balance-sheet total falls from 33.5% to 26.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€56,001▲
2023 · €21,694
Cash flow
€44,775▲
2023 · €18,919
Quick ratio
4.06▲
2023 · 3.76
Debt to equity
0.37▼
2023 · 0.50
ROE
17.7%▲
2023 · 5.4%
Interest coverage
30.20▼
2023 · 314.45
Debt ≤ 1 year
€62,376▲
2023 · €57,914
Debt > 1 year
€10,528▼
2023 · €25,014
Income taxes
€9,414▲
2023 · €2,706
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% 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
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,370 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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €177,930 | €225,580 | €229,646 | €227,430 | €337,553 | ▲ 48.4% |
| Non-recurring operating income76A | - | - | €500 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €192,560 | €207,198 | €204,017 | €273,859 | ▲ 34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,471 | €6,833 | €5,850 | €10,075 | €9,527 | ▼ 5.4% |
| Other operating charges640/8 | - | €1,467 | €1,253 | €1,719 | €1,133 | ▼ 34.1% |
| Non-recurring operating charges66A | - | - | - | - | €6,560 | - |
| Gross operating margin9900 | €21,942 | €33,020 | €22,948 | €23,413 | €63,694 | ▲ 172% |
| Operating profit (loss)9901 | €15,154 | €24,720 | €15,845 | €11,619 | €46,474 | ▲ 300% |
| Financial income75/76B | - | €10 | €2 | - | €42 | - |
| Recurring financial income75 | €24 | €10 | €2 | - | €42 | - |
| Financial charges65/66B | - | €756 | €567 | €69 | €1,854 | ▲ 2,588% |
| Recurring financial charges65 | €472 | €756 | €567 | €69 | €1,854 | ▲ 2,588% |
| Profit (loss) for the period before taxes9903 | €14,706 | €23,974 | €15,280 | €11,550 | €44,662 | ▲ 287% |
| Income taxes67/77 | €3,241 | €5,474 | €4,559 | €2,706 | €9,414 | ▲ 248% |
| Profit (loss) for the period9904 | €11,465 | €18,501 | €10,720 | €8,845 | €35,248 | ▲ 299% |
| Profit (loss) for the period to be appropriated9905 | €11,465 | €18,501 | €10,720 | €8,845 | €35,248 | ▲ 299% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €249,420 | €248,333 | €261,714 | €247,190 | €272,414 | ▲ 10.2% |
| Fixed assets21/28 | €25,888 | €19,284 | €35,426 | €26,893 | €17,366 | ▼ 35.4% |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - |
| Tangible fixed assets22/27 | €24,338 | €17,594 | €33,735 | €25,203 | €15,676 | ▼ 37.8% |
| Plant, machinery and equipment23 | - | €2,495 | €2,720 | €2,838 | €1,961 | ▼ 30.9% |
| Furniture and vehicles24 | - | €15,099 | €31,015 | €22,365 | €13,715 | ▼ 38.7% |
| Financial fixed assets28 | €1,551 | €1,691 | €1,691 | €1,691 | €1,691 | = |
| Current assets29/58 | €223,532 | €229,049 | €226,289 | €220,297 | €255,048 | ▲ 15.8% |
| Stocks and contracts in progress3 | €4,000 | €3,500 | €2,500 | €2,500 | €1,800 | ▼ 28.0% |
| Stocks30/36 | - | €3,500 | €2,500 | €2,500 | €1,800 | ▼ 28.0% |
| Amounts receivable within one year40/41 | €210,922 | €216,469 | €219,372 | €208,279 | €232,506 | ▲ 11.6% |
| Trade receivables40 | - | €34,594 | €40,865 | €28,103 | €59,041 | ▲ 110% |
| Other amounts receivable41 | - | €181,875 | €178,507 | €180,176 | €173,465 | ▼ 3.7% |
| Cash at bank and in hand54/58 | €8,042 | €9,080 | €4,417 | €9,518 | €20,742 | ▲ 118% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €249,420 | €248,333 | €261,714 | €247,190 | €272,414 | ▲ 10.2% |
| Equity10/15 | €126,197 | €144,697 | €155,418 | €164,262 | €199,510 | ▲ 21.5% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Issued capital100 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,870 | €1,870 | €1,870 | €1,870 | €1,870 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | €1,859 | - | - | €1,859 | - |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | - | - |
| Distributable reserves133 | - | €11 | €11 | €11 | €11 | = |
| Profit (loss) carried forward14 | €105,735 | €124,235 | €134,955 | €143,800 | €179,048 | ▲ 24.5% |
| Amounts payable17/49 | €123,223 | €103,636 | €106,297 | €82,928 | €72,904 | ▼ 12.1% |
| Amounts payable after more than one year17 | €16,500 | €12,000 | €32,500 | €25,014 | €10,528 | ▼ 57.9% |
| Financial debts170/4 | - | €12,000 | €32,500 | €25,014 | €10,528 | ▼ 57.9% |
| Amounts payable within one year42/48 | €106,723 | €91,636 | €73,797 | €57,914 | €62,376 | ▲ 7.7% |
| Current portion of amounts payable after more than one year42 | - | €4,500 | €4,500 | - | - | - |
| Trade debts44 | €6,099 | €8,595 | €13,445 | €22,026 | €26,931 | ▲ 22.3% |
| Suppliers440/4 | - | €8,595 | €13,445 | €22,026 | €26,931 | ▲ 22.3% |
| Taxes, remuneration and social security45 | - | €8,240 | €9,240 | €6,706 | €12,706 | ▲ 89.5% |
| Taxes450/3 | - | €8,240 | €9,240 | €6,706 | €12,706 | ▲ 89.5% |
| Other amounts payable47/48 | - | €70,302 | €46,612 | €29,183 | €22,740 | ▼ 22.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,465 | €18,501 | €10,720 | €8,845 | €35,248 | ▲ 299% |
| + Depreciation and write-downs630 | €5,471 | €6,833 | €5,850 | €10,075 | €9,527 | ▼ 5.4% |
| Operating cash flow (approximation) | €16,936 | €25,334 | €16,570 | €18,919 | €44,775 | ▲ 137% |
| Investment in fixed assets (approximation) | - | -€229 | -€21,991 | -€1,542 | €0 | ▲ 100% |
| Change in cash | - | €1,038 | -€4,663 | €5,101 | €11,224 | ▲ 120% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
26-01
KBO administration
Address struck
event 25-11-2025
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2018net €35,248 ▲299%
Operating result €46,474, net result €35,248, both a record.
30-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 152 days late
2023
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 71 days late
2022
31-12
Financial
Equity above €150,000Eq €155,418 ▲7.4%
5 profitable years in a row build equity to €155,418.
30-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 91 days late
2021
31-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 92 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 152 days late
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 142 days late
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 91 days late
2016
21-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 52 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wuustwezel · 1 establishment unit since 1988
Ground area
684 m²
Building footprint
186 m²
Volume, LiDAR
822 m³
Parcel 11026C0110/00V000, Flanders · tallest building 7.7 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SUBLO CVBA
since 19882.040.298.988
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11026C0110/00V000 | Flanders | 684 m² | 1 · 185 m² | 7.7 m · 1 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.
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Of 20,026 companies in sector 43320 we hold annual accounts for 9,139. 7,412 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded27-07-1988
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435067269
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.