Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 29 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SAPIM from Antwerpen, company number BE0452272891, closed financial year 2025 with a result of € 1.4 million after tax. For that financial year SAPIM recorded revenue of € 31.8 million and equity of € 29.6 million. Compared with financial year 2024, the result moved from € 4.1 million to € 1.4 million. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 30, 2026.
€ 29.6 million
▼ 11% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.4 million
▼ 66% vs 2024
Profit after tax over the fiscal year.
€ 503,846
▼ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 5 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
83
▲ 12.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 6.3 million
▲ 14% vs 2024
€ 76,300 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 million
▼ 14% vs 2024
Of which on lease € 7.8 million.
Debts at end 2025
€ 31 million
▲ 9% vs 2024
€ 4.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 2.6 million
▼ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 48 days on average.
€ 930,290
▲ 33% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 47,434,964 | € 30,824,001 | € 29,550,869 | € 31,784,427 | ▲ 8% |
| Profit after taxes | € 9,589,240 | € 3,187,038 | € 4,131,054 | € 1,425,022 | ▼ 66% |
| Equity | € 36,346,852 | € 34,757,797 | € 33,170,766 | € 29,577,697 | ▼ 11% |
| Total debts | € 37,127,710 | € 37,402,667 | € 33,636,212 | € 35,429,819 | ▲ 5% |
| Cash | € 1,945,076 | € 2,462,529 | € 581,862 | € 503,846 | ▼ 13% |
| Retained profit | € 25,248,347 | € 23,435,382 | € 21,866,440 | € 18,291,461 | ▼ 16% |
| Dividend | € 2,500,000 | € 5,000,000 | € 5,700,000 | € 5,000,000 | ▼ 12% |
| Bank debt | € 27,826,913 | € 33,800,692 | € 28,534,466 | € 30,977,174 | ▲ 9% |
| Balance sheet total | € 73,967,678 | € 72,653,301 | € 67,087,221 | € 65,100,559 | ▼ 3% |
| Employees (FTE) | 96.4 | 75.6 | 70.7 | 83 | ▲ 12.3 |
Key figures of SAPIM, 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 SAPIM?
What happened at SAPIM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Crespi BV stepped down as director. NBB
- Alcopa Coordination Center NV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.4 million (▼ 66% vs 2024). Source: NBB ↗
- New establishment in Antwerpen. KBO
- Alcopa Coordination Center NV became a director. NBB
- New establishment in Antwerpen. KBO
- Crespi BV became a director. NBB
- New establishment in Antwerpen. KBO
In short
From € 9.6 million profit in 2022 to € 1.4 million profit in 2025.
Paid € 2.3 million in corporate taxes since 2022.
Best year ever: 2022, with € 9.6 million profit.
Paid out € 18.2 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Mechanica Holding comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SAPIMThe shares are held by Mechanica Holding (100%). It owns 100% of Ryde BV and 30% of Advanced Composite Services LTD itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Amaury DE CORDES
Also active at: International Cycling Parts Services, Cycling Parts Testing, Sacrya, Mechanica Holding
since 2019 · until 2031
Director · represented by Damien HEYMANS
Also active at: Thys Holding, Groupe François Holding, Mechanica Holding
since 2022 · until 2028
Shareholders
100%
Participations
Ryde BV
100%
Advanced Composite Services LTD
30%
Establishments
Establishment units
Physical locations of this company
Mechanicalaan 6-8
2610 Antwerpen
Mechanicalaan 2-4
2610 Antwerpen
Active since 3 February 2020
Fotografielaan 28A
2610 Antwerpen
Active since 1 July 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →International Cycling Parts Services same network
€ 2.4 million gross margin · 2025
CYCLING PARTS IMMO
€ 165,229 gross margin · 2025
Cycling Parts Testing same network
€ 16,187 gross margin · 2025
Sacrya same network
€ -10,934 gross margin · 2025
Mechanica Holding same network
€ 1.4 million revenue · 2025
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0452.272.891
- VAT number
- BE 0452.272.891
- Registered office
- Mechanicalaan 6-8, 2610 Antwerpen
- Names & denominations
- SAPIM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 31 March 1994
- Peppol
- Active · Active since 2 Sept 2025
- Activities · NACE
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