NORMAL SITUATION

SAPRO

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Financial year 2025 · closed on 22/09/2025

Net result

-13,2 k €

-530.7% YoY

Gross margin

-3,2 k €

-186.1% YoY

Equity

246,1 k €

-5.1% YoY

Company — Normal situation.

What does SAPRO do?

SAPRO is a company registered in Belgium.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0430.156.792

Legal form

Public limited company

Contributed capital

62 000,00 €

Latest accounts

22/09/2025

Signals

Solid equityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	-3,2 k €	-186%	3,7 k €		–		–		–		–		–		–		342,7 k €	+0.5%	341,1 k €	-16.9%	410,5 k €	-1.7%	417,6 k €	+6.9%	390,7 k €	-3.1%	403 k €	+2.8%	392,1 k €	-13.5%	453,2 k €	+14.4%	396 k €	-11.6%	447,9 k €
EBITDA	-7,3 k €	-16.3%	-6,3 k €	+93.2%	-92,9 k €	-220%	77,7 k €	+211%	-70,2 k €	+48.5%	-136,3 k €	-749%	21 k €	-80.7%	108,7 k €	+704%	13,5 k €	+3.0%	13,1 k €	-85.1%	88 k €	-3.9%	91,6 k €	+361%	19,9 k €	-63.9%	55,1 k €	-19.8%	68,7 k €	+974%	6,4 k €	+125%	-26 k €	-157%	45,8 k €
Operating result	-7,3 k €	-16.3%	-6,3 k €	+92.7%	-86,1 k €	-231%	65,9 k €	+194%	-70,2 k €	+54.9%	-155,6 k €	-1744%	9,5 k €	-89.7%	91,6 k €	+1143%	7,4 k €	-22.4%	9,5 k €	-87.4%	75,7 k €	-12.0%	86 k €	+325%	20,2 k €	-63.8%	55,9 k €	-17.1%	67,5 k €	+1001%	6,1 k €	+120%	-30 k €	-163%	47,9 k €
Net result	-13,2 k €	-531%	3,1 k €	+104%	-77,7 k €	-219%	65,4 k €	+193%	-70,4 k €	+54.0%	-153,1 k €	-2909%	5,5 k €	-91.0%	60,9 k €	+1079%	5,2 k €	-34.9%	7,9 k €	-85.2%	53,6 k €	-12.4%	61,1 k €	+242%	17,9 k €	-61.1%	46 k €	-18.1%	56,2 k €	+2676%	2 k €	+107%	-29,3 k €	-187%	33,6 k €
Balance sheet
Equity	246,1 k €	-5.1%	259,3 k €	+1.2%	256,2 k €	-23.3%	333,9 k €	+24.4%	268,4 k €	-20.8%	338,8 k €	-31.1%	491,9 k €	+1.1%	486,4 k €	+14.3%	425,6 k €	+1.2%	420,4 k €	+1.9%	412,5 k €	+14.9%	358,9 k €	+20.5%	297,8 k €	+6.4%	279,9 k €	+19.7%	234 k €	+31.6%	177,8 k €	+1.2%	175,7 k €	-14.3%	205,1 k €
Total assets	246,1 k €	-6.8%	263,9 k €	+3.0%	256,2 k €	-56.0%	581,9 k €	-24.7%	773 k €	+45.0%	533,3 k €	-29.7%	758,9 k €	+6.4%	713,2 k €	-5.9%	758,2 k €	-7.2%	817,3 k €	+6.9%	764,4 k €	+3.2%	740,6 k €	-4.3%	773,7 k €	+12.2%	689,8 k €	-0.6%	693,8 k €	+8.1%	641,7 k €	-11.6%	725,7 k €	-4.6%	760,8 k €
Cash	1,9 k €	-92.0%	23,9 k €	+91.1%	12,5 k €	-84.1%	78,6 k €	+148%	31,8 k €	-6.4%	33,9 k €	-43.6%	60,2 k €	-8.5%	65,8 k €	+75.9%	37,4 k €	+2.2%	36,6 k €	-26.0%	49,5 k €	+91.1%	25,9 k €	-60.2%	65 k €	+50.4%	43,2 k €	+113%	20,2 k €	-50.6%	41 k €	-50.6%	83 k €	+7.9%	76,9 k €
Debts	–		4,7 k €		–		248,1 k €	-50.8%	504,6 k €	+159%	194,5 k €	-27.1%	266,9 k €	+17.7%	226,7 k €	-31.8%	332,6 k €	-15.4%	392,9 k €	+11.6%	352 k €	-7.6%	381,1 k €	-19.8%	474,9 k €	+15.9%	409,9 k €	-10.7%	458,7 k €	-0.6%	461,6 k €	-16.1%	549,9 k €	-0.9%	555 k €
Other
Workforce	–		–		–		4,1 ETP	-37.9%	6,6 ETP	0.0%	6,6 ETP	0.0%	6,6 ETP	-2.9%	6,8 ETP	0.0%	6,8 ETP	+3.0%	6,6 ETP	0.0%	6,6 ETP	0.0%	6,6 ETP	-5.7%	7,0 ETP	-5.4%	7,4 ETP	-7.5%	8,0 ETP	-17.5%	9,7 ETP	-5.8%	10,3 ETP	+3.0%	10,0 ETP

Governance

Board of directors

Seen on filing of 22/09/2025 · 4 active · 16 ended

Active mandates

D&L Legal

Director · since 02 novembre 2021 · until 22 septembre 2025 · 0707.530.668

Represented by PHILIP WOUTERS

Active

FRANS VAN TILBORG

Managing director · since 02 novembre 2021 · until 22 septembre 2025

Active

KARL HERMANS

Director · since 02 novembre 2021 · until 22 septembre 2025

Active

STIJN MICHIELSEN

Director · since 02 novembre 2021 · until 22 septembre 2025

Active

Ended mandates

D&L Legal

Director · since 02 novembre 2021 · until 12 juin 2027 · 0707.530.668

Represented by Philip Wouters

Ended

D&L Legal

Director · since 02 novembre 2021 · until 12 juin 2027 · 0707.530.668

Represented by PHILIP WOUTERS

Ended

Frans Van Tilborg

Managing director · since 02 novembre 2021 · until 12 juin 2027

Ended

Karl Hermans

Director · since 02 novembre 2021 · until 12 juin 2027

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	22/09/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	9 months	12 months	12 months	12 months	12 months	12 months
Filing date	09/04/2026	25/06/2025	01/07/2024	19/06/2023	27/07/2022	16/07/2021
General meeting	22/09/2025	14/06/2025	30/05/2024	10/06/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

39 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	22/09/2025	22/09/2025	09/04/2026	Dutch	PDF
Abridged model	31/12/2024	14/06/2025	25/06/2025	Dutch	PDF
Full model	31/12/2023	30/05/2024	01/07/2024	Dutch	PDF
Full model	31/12/2022	10/06/2023	19/06/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	27/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	16/07/2021	Dutch	PDF
Full model	31/12/2019	19/10/2020	22/10/2020	Dutch	PDF
Full model	31/12/2018	30/07/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	09/06/2018	28/06/2018	Dutch	PDF
Abridged model	31/12/2016	10/06/2017	06/07/2017	Dutch	PDF
Abridged model	31/12/2015	11/06/2016	14/06/2016	Dutch	PDF
Abridged model	31/12/2014	13/06/2015	25/06/2015	Dutch	PDF
Abridged model	31/12/2013	14/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	08/06/2013	19/06/2013	Dutch	PDF
Abridged model	31/12/2011	09/06/2012	21/06/2012	Dutch	PDF
Abridged model	31/12/2010	11/06/2011	25/08/2011	Dutch	PDF
Abridged model	31/12/2009	12/06/2010	23/06/2010	Dutch	PDF
Abridged model	31/12/2008	13/06/2009	06/07/2009	Dutch	PDF
Abridged model	31/12/2007	14/06/2008	30/06/2008	Dutch	PDF
Abridged model	31/12/2006	09/06/2007	28/06/2007	Dutch	PDF
Abridged model	31/12/2005	10/06/2006	08/08/2006	Dutch	PDF
Abridged model	31/12/2004	11/06/2005	24/06/2005	Dutch	PDF
Abridged model	31/12/2003	12/06/2004	23/09/2004	Dutch	PDF
Abridged model	31/12/2002	14/06/2003	25/06/2003	Dutch	PDF

View all 39 filings

Estimate

Indicative valuation

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 22/09/2025 · 4 active · 16 ended

Active mandates

D&L Legal

Director · since 02 novembre 2021 · until 22 septembre 2025 · 0707.530.668

Represented by PHILIP WOUTERS

Active

FRANS VAN TILBORG

Managing director · since 02 novembre 2021 · until 22 septembre 2025

Active

KARL HERMANS

Director · since 02 novembre 2021 · until 22 septembre 2025

Active

STIJN MICHIELSEN

Director · since 02 novembre 2021 · until 22 septembre 2025

Active

Ended mandates

D&L Legal

Director · since 02 novembre 2021 · until 12 juin 2027 · 0707.530.668

Represented by Philip Wouters

Ended

D&L Legal

Director · since 02 novembre 2021 · until 12 juin 2027 · 0707.530.668

Represented by PHILIP WOUTERS

Ended

Frans Van Tilborg

Managing director · since 02 novembre 2021 · until 12 juin 2027

Ended

Karl Hermans

Director · since 02 novembre 2021 · until 12 juin 2027

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Dissolution14/10/2025
RUBRIEK EINDE (STOPZETTING, INTREKKING STOPZETTING, NIETIGHEID, GER. AK., GERECHTELIJKE REORGANISATIE, ENZ...
PDF
Registered office17/01/2025
MAATSCHAPPELIJKE ZETEL
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-13,2 k €↓
2025
Name changeSAPRO (IN VEREFFENING)
2024
Annual accounts 20243,1 k €↑
2023
Annual accounts 2023-77,7 k €↓
2022
Annual accounts 202265,4 k €↑
2021
Annual accounts 2021-70,4 k €↑
2021
Name changeSAPRO
2020
Annual accounts 2020-153,1 k €↓
2019
Annual accounts 20195,5 k €↓
2018
Annual accounts 201860,9 k €↑
2017
Annual accounts 20175,2 k €↓
2016
Annual accounts 20167,9 k €↓
2015
Annual accounts 201553,6 k €↓
2014
Annual accounts 201461,1 k €↑
2013
Annual accounts 201317,9 k €↓
2012
Annual accounts 201246 k €↓
2011
Annual accounts 201156,2 k €↑
2010
Annual accounts 20102 k €↑
2009
Annual accounts 2009-29,3 k €↓
2008
Annual accounts 200833,6 k €

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

SAPRO

Overview

What does SAPRO do?

Trend over 18 financial years

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline