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 47 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SIVAFROST C.P.L. from Dendermonde, company number BE0457834060, closed financial year 2025 with a result of € -690,281 after tax. For that financial year SIVAFROST C.P.L. recorded revenue of € 14.8 million and equity of € 4 million. Compared with financial year 2024, the result moved from € 449,434 to € -690,281. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 2, 2026.
€ 4 million
▼ 15% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -690,281
▼ still € 449,434 profit in 2024
Profit after tax over the fiscal year.
€ 261,509
▼ 6% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 3.4 million.
People and assets in 2025
21.6
▲ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2 million
▲ 33% vs 2024
€ 91,100 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.
€ 14.2 million
▼ 9% vs 2024
Of which on lease € 14.1 million.
Debts at end 2025
€ 12.4 million
▼ 5% vs 2024
€ 1.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 2.6 million
▲ 175% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 91 days on average.
€ 214,735
▲ 16% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 10,280,072 | € 14,816,053 | ▲ 44% |
| Gross margin | € 3,576,798 | € 3,746,714 | - | - | |
| Profit after taxes | € -57,867 | € -153,417 | € 449,434 | € -690,281 | ▼ € 1.1 million |
| Equity | € 4,361,809 | € 4,208,392 | € 4,657,826 | € 3,967,545 | ▼ 15% |
| Total debts | € 15,745,469 | € 15,772,916 | € 14,643,046 | € 15,466,138 | ▲ 6% |
| Cash | € 161,385 | € 173,905 | € 277,054 | € 261,509 | ▼ 6% |
| Land & buildings | € 14,186 | € 100,043 | € 159,386 | € 241,611 | ▲ 52% |
| Retained profit | € 3,758,211 | € 3,604,794 | € 4,054,228 | € 3,363,947 | ▼ 17% |
| Bank debt | € 14,385,570 | € 13,849,601 | € 13,085,689 | € 12,418,207 | ▼ 5% |
| Balance sheet total | € 20,107,278 | € 19,981,309 | € 19,300,872 | € 19,433,683 | ▲ 1% |
| Employees (FTE) | 32 | 28.4 | 21.4 | 21.6 | ▲ 0.2 |
Key figures of SIVAFROST C.P.L., 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 SIVAFROST C.P.L.?
What happened at SIVAFROST C.P.L. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 690,281 (▼ € 1.1 million vs 2024). Source: NBB ↗
- Elizabeth Gildea became a director. NBB
- Hardip Rai stepped down as director. NBB
- Likasio BV became a director. NBB
- Michael Meyers became a director. NBB
- Hardip Rai became a director. NBB
- New establishment in Dendermonde. KBO
- Start of the company according to the CBE. KBO
In short
From € 57,867 loss in 2022 to € 690,281 loss in 2025.
Paid € 44,376 in corporate taxes since 2022.
Best year ever: 2024, with € 449,434 profit.
On average € 131,900 of value added per employee in 2023.
A new publication or filing at SIVAFROST C.P.L.? We notify you, reason included.
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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 Cube Cold Europe Belgium Bidco comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SIVAFROST C.P.L.Behind SIVAFROST C.P.L. are Elizabeth Gildea, Likasio BV and Michael Meyers. The shares are held by Cube Cold Europe Belgium Bidco (100%).
Directors
According to the 2025 annual accounts
Elizabeth Gildea
Managing director
since 2025
since 2025
Michael Meyers
Director
Also active at: IMMO SIVAFROST, DE NOORDRIJ, NORTRAFFIC FOOD SERVICE, Lambs and Lions
since 2025
since 2025 · until 2025
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.
Details
- Company number
- 0457.834.060
- VAT number
- BE 0457.834.060
- Registered office
- Schaapveld (STG) 20, 9200 Dendermonde
- Names & denominations
- SIVAFROST C.P.L.
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 17 April 1996
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Opslag
Activiteiten van slachthuizen
Productie van diepgevroren vlees
Verwerking en conservering van vlees, exclusief vlees van gevogelte