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 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Shadd from Kapellen, company number BE0777887738, closed financial year 2025 with a result of € 13,503 after tax. For that financial year Shadd recorded a gross margin of € 160,492 and equity of € 145,139. Compared with financial year 2024, the result moved from € 53,325 to € 13,503. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 24, 2026.
€ 145,139
▲ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 13,503
▼ 75% vs 2024
Profit after tax over the fiscal year.
€ 1,778
▼ 99% 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 € 125,139.
Debts at end 2025
€ 1.7 million
▲ 146% vs 2024
€ 111,572 is repaid this year. At this pace the long-term loan is gone in ≈ 15 years.
€ 12,629
▲ € 11,661 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 17,525
▼ 42% 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 | € 122,881 | € 105,196 | € 89,905 | € 160,492 | ▲ 79% |
| Profit after taxes | € -9,377 | € 67,689 | € 53,325 | € 13,503 | ▼ 75% |
| Equity | € 10,623 | € 78,312 | € 131,637 | € 145,139 | ▲ 10% |
| Total debts | € 1,099,506 | € 1,094,544 | € 1,047,681 | € 2,416,224 | ▲ 131% |
| Cash | € 16,183 | € 37,427 | € 159,797 | € 1,778 | ▼ 99% |
| Land & buildings | € 1,025,417 | € 1,012,917 | € 1,000,417 | € 2,412,740 | ▲ 141% |
| Retained profit | € -9,377 | € 58,312 | € 111,637 | € 125,139 | ▲ 12% |
| Bank debt | € 779,789 | € 727,130 | € 674,019 | € 1,658,564 | ▲ 146% |
| Balance sheet total | € 1,110,129 | € 1,172,857 | € 1,179,318 | € 2,561,364 | ▲ 117% |
Key figures of Shadd, 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 Shadd?
What happened at Shadd in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 13,503 (▼ 75% vs 2024). Source: NBB ↗
- New establishment in Kapellen. KBO
- Start of the company according to the CBE. KBO
In short
From € 9,377 loss in 2022 to € 13,503 profit in 2025.
Paid € 29,791 in corporate taxes since 2022.
Best year ever: 2023, with € 67,689 profit.
Management
Behind Shadd are Stefan Nabarro and Helga Vandermast. The same people are also behind STENABO.
Establishments
Establishment units
Physical locations of this company
Energielaan 14
2950 Kapellen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0777.887.738
- VAT number
- BE 0777.887.738
- Registered office
- Energielaan 14, 2950 Kapellen
- Names & denominations
- Shadd
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 November 2021
- Peppol
- Active · Active since 20 Nov 2025
- Activities · NACE
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