Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 28 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SIEPAS from Zottegem, company number BE0423875944, closed financial year 2025 with a result of € 34,484 after tax. For that financial year SIEPAS recorded a gross margin of € 121,819 and equity of € 89,686. Compared with financial year 2024, the result moved from € 16,883 to € 34,484. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 19, 2026.
€ 89,686
▲ 62% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 34,484
▲ 104% vs 2024
Profit after tax over the fiscal year.
€ 103,646
▲ 32% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 52,186.
People and assets in 2025
0.8
Average over the fiscal year, from the social balance sheet.
€ 16,316
▼ 79% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 6,644
▼ 42% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 33,814
▼ 54% vs 2024
Loans from banks and other lenders, long and short.
€ 13,611
▲ 279% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 97
▼ € 19,315 vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 30,363 | € 120,053 | € 174,450 | € 121,819 | ▼ 30% |
| Profit after taxes | € -106,331 | € -22,249 | € 16,883 | € 34,484 | ▲ 104% |
| Equity | € 60,568 | € 38,319 | € 55,202 | € 89,686 | ▲ 62% |
| Total debts | € 482,091 | € 491,404 | € 476,265 | € 430,479 | ▼ 10% |
| Cash | € 15,928 | € 35,245 | € 78,334 | € 103,646 | ▲ 32% |
| Land & buildings | € 97,637 | € 89,653 | € 81,669 | € 90,938 | ▲ 11% |
| Retained profit | € 23,068 | € 819 | € 17,702 | € 52,186 | ▲ 195% |
| Bank debt | € 150,645 | € 110,853 | € 74,136 | € 33,814 | ▼ 54% |
| Balance sheet total | € 542,659 | € 529,722 | € 531,466 | € 520,165 | ▼ 2% |
| Employees (FTE) | 0.8 | 0.8 | 0.8 | 0.8 |
Key figures of SIEPAS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to SIEPAS?
What happened at SIEPAS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 34,484 (▲ 104% vs 2024). Source: NBB ↗
- Wim Rasschaert became a director. NBB
- New establishment in Zottegem. KBO
- Start of the company according to the CBE. KBO
In short
From € 106,331 loss in 2022 to € 34,484 profit in 2025.
Paid € 1,742 in corporate taxes since 2022.
Best year ever: 2025, with € 34,484 profit.
Management
The stake of Raspat Holding comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SIEPASBehind SIEPAS is Wim Rasschaert. The shares are held by Raspat Holding (100%).
Directors
According to the 2025 annual accounts
since 2021
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Gentse Steenweg 323
9620 Zottegem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0423.875.944
- VAT number
- BE 0423.875.944
- Registered office
- Gentse Steenweg 323, 9620 Zottegem
- Names & denominations
- SIEPAS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 14 April 1983
- Peppol
- Active · Active since 1 Sept 2026
- Activities · NACE
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