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 30 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SIBAVAR from Sint-Laureins, company number BE0874999089, closed financial year 2025 with a result of € 427,842 after tax. For that financial year SIBAVAR recorded a gross margin of € 1.2 million and equity of € 2.5 million. Compared with financial year 2024, the result moved from € 1.4 million to € 427,842. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 22, 2026.
€ 2.5 million
▲ 21% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 427,842
▼ 68% vs 2024
Profit after tax over the fiscal year.
€ 40,906
▼ 19% 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 € 633,609.
People and assets in 2025
5.7
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 239,030
▼ 2% vs 2024
€ 41,900 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.
€ 53,089
▲ € 51,597 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.7 million
▼ 36% vs 2024
€ 378,789 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 382,955
▼ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 64,891
▲ 4% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,910,345 | € 1,668,247 | - | - | |
| Gross margin | - | - | € 2,119,934 | € 1,172,767 | ▼ 45% |
| Profit after taxes | € 42,820 | € 261,060 | € 1,357,242 | € 427,842 | ▼ 68% |
| Equity | € 425,520 | € 686,580 | € 2,043,822 | € 2,471,664 | ▲ 21% |
| Total debts | € 7,252,263 | € 7,528,006 | € 6,849,285 | € 5,845,130 | ▼ 15% |
| Cash | € 21,787 | € 42,125 | € 50,510 | € 40,906 | ▼ 19% |
| Land & buildings | € 4,271,303 | € 5,450,602 | € 5,245,071 | € 5,016,860 | ▼ 4% |
| Retained profit | € -1,412,534 | € -1,151,475 | € 205,767 | € 633,609 | ▲ 208% |
| Bank debt | € 2,835,343 | € 3,518,775 | € 2,687,489 | € 1,729,463 | ▼ 36% |
| Balance sheet total | € 7,677,783 | € 8,214,586 | € 8,893,107 | € 8,316,794 | ▼ 6% |
| Employees (FTE) | 2.7 | 5.7 | 5.9 | 5.7 | ▼ 0.2 |
Key figures of SIBAVAR, 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 SIBAVAR?
What happened at SIBAVAR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New establishment in Assenede. KBO
- New annual accounts for financial year 2025: profit of € 427,842 (▼ 68% vs 2024). Source: NBB ↗
- Arne Goethals became a director. NBB
- Koen Goethals became a director. NBB
- New establishment in Ichtegem. KBO
- New establishment in Kaprijke. KBO
- New establishment in Maldegem. KBO
- New establishment in Kaprijke. KBO
In short
From € 42,820 profit in 2022 to € 427,842 profit in 2025.
Paid € 116,132 in corporate taxes since 2022.
Best year ever: 2024, with € 1.4 million profit.
On average € 205,700 of value added per employee in 2025.
Management
Behind SIBAVAR are Sandra Goethals, Koen Goethals and Arne Goethals. It owns 100% of Arko, 100% of G-Energie and 95.2% of Hazelarenhoek itself.
Directors
According to the 2025 annual accounts
Koen Goethals
Director
Also active at: International Pig Industry, LARAGRO, ALGO, ARKO, KAMPELHOF, HAZELARENHOEK
since 2021
Arne Goethals
Director
Also active at: International Pig Industry, LARAGRO, ALGO, ARKO, KAMPELHOF, KG BOUWTECHNIEK
since 2025
Establishments
Establishment units
Physical locations of this company
Kleine Boterhoek(STL) 8
9980 Sint-Laureins
Oude Boekhoutestraat 16
9968 Assenede
Active since 7 July 2006
Kluisstraat 69
9940 Evergem
Active since 1 July 2010
Oude Boekhoutestraat 41 box A
9968 Assenede
Active since 1 January 2012
Vrombautstraat 42
9971 Kaprijke
Active since 1 July 2012
Windgatstraat 58
9971 Kaprijke
Active since 1 July 2012
Beekstraat 12
9970 Kaprijke
Active since 1 November 2017
Grote Nieuwhofdreef 36 box b
9990 Maldegem
Active since 1 November 2017
Schipleedstraat(BEK) 9A
8480 Ichtegem
Active since 1 January 2021
Hogevorst 38
9968 Assenede
Active since 30 July 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0874.999.089
- VAT number
- BE 0874.999.089
- Registered office
- Kleine Boterhoek(STL) 8, 9980 Sint-Laureins
- Names & denominations
- SIBAVAR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 July 2005
- Peppol
- Active · Active since 21 Oct 2026
- Contact
- [email protected] 050/687286
- Activities · NACE
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