SBE
SBE has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32k and a net result of €-5k. Equity is shrinking by ~24.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 41% of 8388 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
| Equity | €32k |
| Net result | €-5k |
| Better than sector | 41% |
| Active | 34 yrs |
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 42.3% | 53.1% | |
| Net result | €-5k | €38k | |
| Equity | €32k | €354k | |
| Gross operating margin | €10k | €87k | |
| Total assets | €76k | €923k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €8k | €2k | €-7k | €48k | €41k |
| Net profit | €-5k | €-12k | €-24k | €19k | €22k |
| Cash flow | €8k | €1k | €-11k | €33k | €28k |
| Staff costs | - | - | - | - | - |
| Income taxes | €433 | €483 | €460 | €14k | €13k |
| Dividends | - | - | €0 | €800 | - |
| Total assets | €76k | €85k | €106k | €136k | €142k |
| Equity | €32k | €37k | €76k | €100k | €81k |
| Debt | €44k | €48k | €30k | €36k | €61k |
| of which ≤ 1y | €13k | €17k | €26k | €18k | €30k |
| of which > 1y | €29k | €29k | €3k | €16k | €29k |
| Working capital | €34k | €26k | €26k | €49k | €36k |
| Employees (FTE) | - | - | - | - | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 3.49 | 2.48 | 2.00 | 3.69 | 2.20 |
| Quick ratio | 3.49 | 2.48 | 2.00 | 3.69 | 2.20 |
| Working capital ratio | 44.0% | 30.2% | 24.1% | 36.2% | 25.4% |
| Solvency | 42.3% | 43.5% | 71.4% | 73.5% | 57.3% |
| Debt / equity | 1.36 | 1.30 | 0.40 | 0.36 | 0.75 |
| Long-term debt ratio | 0.90 | 0.79 | 0.04 | 0.16 | 0.36 |
| Interest coverage | 70.77 | 6.34 | -2.81 | 69.08 | 87.11 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -6.1% | -14.1% | -22.6% | 14.3% | 15.4% |
| ROE | -14.4% | -32.4% | -31.7% | 19.4% | 26.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (24 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €76k | €85k | €106k | €136k | €142k |
| Fixed assets | 21/28 | €29k | €42k | €55k | €68k | €76k |
| Tangible fixed assets | 22/27 | €26k | €39k | €52k | €65k | €75k |
| Financial fixed assets | 28 | €3k | €3k | €3k | €3k | €150 |
| Current assets | 29/58 | €47k | €43k | €51k | €68k | €66k |
| Amounts receivable within one year | 40/41 | €40k | €18k | €22k | €37k | €12k |
| Cash & bank | 54/58 | €5k | €24k | €28k | €29k | €53k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €76k | €85k | €106k | €136k | €142k |
| Equity | 10/15 | €32k | €37k | €76k | €100k | €81k |
| Contributions / capital | 10/11 | €81k | €81k | €62k | €62k | €62k |
| Reserves | 13 | €38k | €38k | €38k | €38k | €19k |
| Accumulated profits (losses) | 14 | €-86k | €-82k | €-24k | - | - |
| Amounts payable | 17/49 | €44k | €48k | €30k | €36k | €61k |
| Amounts payable after one year | 17 | €29k | €29k | €3k | €16k | €29k |
| Amounts payable within one year | 42/48 | €13k | €17k | €26k | €18k | €30k |
| Trade debts payable within one year | 44 | €7k | €4k | €6k | €588 | €814 |
| Income statement | ||||||
| Gross operating margin | 9900 | €10k | €3k | €-6k | €49k | €43k |
| Operating result | 9901 | €-4k | €-11k | €-21k | €34k | €36k |
| Financial income | 75 | €70 | €6 | €0 | €2 | €0 |
| Financial charges | 65 | €119 | €321 | €3k | €688 | €475 |
| Result before taxes | 9903 | €-4k | €-11k | €-24k | €34k | €35k |
| Income taxes | 67/77 | €433 | €483 | €460 | €14k | €13k |
| Net result for the period | 9904 | €-5k | €-12k | €-24k | €19k | €22k |
| Result to be appropriated | 9905 | €-5k | €-12k | €-24k | €19k | €22k |
| NACE primary | Business and other management consultancy(70200) |
| Legal form | Public limited company(014) |
| Incorporation | 20-02-1992 |
| Status | Active |
| Postal code | 8300 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332G0004/00S006 | Flanders | 176 m² | 1 · 73 m² | 11.1 m · 3 fl. |
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
28-06-2024 All shares are now held by a single shareholder
Technical details
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],
"notary": {
"name": "Jan Coppens",
"firm_city": null,
"firm_name": null,
"office_city": "Vosselaar",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2024-06-28",
"filing_date": "2024-05-27",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
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"act_date": "2024-05-27",
"unanimous": true,
"under_authorized_capital": false,
"underlying_resolution_date": null
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"bedrijfsrevisor": null,
"subject_company": {
"kbo": "0446.696.678",
"name_full": "SBE",
"legal_form": "naamloze vennootschap",
"is_foreign_registered": false
},
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"person_role_at_subject": null
},
"co_filed_documents": [
"uitgifte van de akte",
"lijst publicatiedata",
"geco\u00F6rdineerde statuten"
],
"shareholders_after": [
{
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"pct": 100.0,
"kind": "org",
"name": "SBE",
"role": "aandeelhouder",
"n_shares": 75,
"share_class": null
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],
"share_classes_after": [
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"n_shares": 75,
"class_name": "Gewone Aandelen",
"capital_share_eur": 80573.38,
"voting_rights_per_share": 1.0
}
]
}14-05-2024 Publication in the Belgian Official Gazette, Miscellaneous
Technical details
{
"stage": "proposal",
"notary": {
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"firm_city": null,
"firm_name": null,
"office_city": null,
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},
"act_meta": {
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"pub_date": null,
"filing_date": "2024-05-02",
"act_kind_objet": "neerlegging fusievoorstel"
},
"decision": {
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"act_date": "2024-02-01",
"unanimous": null
},
"conversion": null,
"detected_kind": "merger_absorption",
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"restructuring": {
"parties": [
{
"kbo": "0446.696.678",
"name": "SBE NV",
"role": "acquiring",
"address": "Rijkswachtlaan 17 -8300 Knokke-Heist",
"is_foreign": false,
"legal_form": "NV",
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{
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"name": "Trabor International BV",
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"address": "Zwanenlaan 6, 2610 Wilrijk",
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}
],
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"12:50"
],
"is_cross_border": false,
"is_silent_merger": true,
"balance_basis_date": null,
"exchange_ratio_text": null,
"new_shares_issued_n": 0,
"real_estate_included": false,
"patrimony_description": "De fusie betreft de volledige overname van de vennootschap Trabor International BV door SBE NV.",
"equity_transferred_eur": 18600.0,
"accounting_effective_date": "2024-01-01"
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"summary_narrative": "Op 1 februari 2024 is een fusievoorstel opgesteld voor de fusie door overneming van Trabor International BV door SBE NV. De fusie is een geruisloze fusie bij zustervennootschappen, waarbij het kapitaal van SBE NV wordt verhoogd met 18.600 EUR. De verrichtingen worden vanaf 1 januari 2024 voor rekening van de overnemende vennootschap beschouwd.",
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"referenced_correction": null,
"should_reroute_to_category": null
}| Legal nameNL | SBE |