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 22 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 2.8 to 2.3.
Financials
Financial year 2025
IMMO SIVAFROST from Dendermonde, company number BE0428474833, closed financial year 2025 with a result of € 32,048 after tax. For that financial year IMMO SIVAFROST recorded a gross margin of € 451,013 and equity of € 883,504. Compared with financial year 2024, the result moved from € -7,872 to € 32,048. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 2, 2026.
€ 883,504
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 32,048
▲ still € 7,872 loss in 2024
Profit after tax over the fiscal year.
€ 54,480
▲ € 46,287 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 € 417,052.
People and assets in 2025
2.3
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 202,601
▲ 9% vs 2024
€ 88,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 8,067
▲ € 7,355 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 563,510
▼ 11% vs 2024
€ 69,851 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 41,584
▲ € 37,888 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 24,915
▼ 34% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 343,763 | € 411,577 | € 412,062 | € 451,013 | ▲ 9% |
| Profit after taxes | € -847 | € 48,900 | € -7,872 | € 32,048 | ▲ € 39,921 |
| Equity | € 810,428 | € 859,328 | € 851,455 | € 883,504 | ▲ 4% |
| Total debts | € 921,816 | € 1,166,959 | € 1,270,214 | € 1,261,582 | ▼ 1% |
| Cash | € 22,012 | € 10,656 | € 8,193 | € 54,480 | ▲ € 46,287 |
| Land & buildings | € 1,387,707 | € 1,824,593 | € 2,064,718 | € 1,972,376 | ▼ 4% |
| Retained profit | € 343,976 | € 392,876 | € 385,004 | € 417,052 | ▲ 8% |
| Bank debt | € 119,743 | € 409,155 | € 630,601 | € 563,510 | ▼ 11% |
| Balance sheet total | € 1,732,243 | € 2,026,287 | € 2,121,669 | € 2,145,086 | ▲ 1% |
| Employees (FTE) | 2.8 | 2.8 | 2.5 | 2.3 | ▼ 0.2 |
Key figures of IMMO SIVAFROST, 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 IMMO SIVAFROST?
What happened at IMMO SIVAFROST in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Likasio BV stepped down as director. NBB
- Michael Meyers stepped down as director. NBB
- Elizabeth Gildea stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 32,048. Source: NBB ↗
- Hardip RAI stepped down as director. NBB
- Elizabeth Gildea became a director. NBB
- Likasio BV became a director. NBB
- Michael Meyers became a director. NBB
In short
From € 847 loss in 2022 to € 32,048 profit in 2025.
Paid € 2,255 in corporate taxes since 2022.
Best year ever: 2023, with € 48,900 profit.
On average € 196,100 of value added per employee in 2025.
Management
The stake of Cube Cold Europe Belgium Bidco comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
IMMO SIVAFROSTThe shares are held by Cube Cold Europe Belgium Bidco (100%).
Directors
According to the 2025 annual accounts
since 2025 · until 2030
Hardip RAI
Director
since 2024 · until 2025
Michael Meyers
Director
Also active at: SIVAFROST C.P.L., DE NOORDRIJ, NORTRAFFIC FOOD SERVICE, Lambs and Lions
since 2025 · until 2030
Elizabeth Gildea
Managing director
since 2025 · until 2030
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Schaapveld (STG) 20
9200 Dendermonde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
COMBELL-AS, BE
DNS
Cloudflare DNS
Website info
Features
Security
Details
- Company number
- 0428.474.833
- VAT number
- BE 0428.474.833
- Registered office
- Schaapveld (STG) 20, 9200 Dendermonde
- Names & denominations
- IMMO SIVAFROST
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 February 1986
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Opslag
Opslag in koelpakhuizen
Activiteiten van verpakkingsbedrijven