ACTIVE

SAPI

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Financial year 2025 · closed on 31/12/2025

Net result

498,4 €

-72.3% YoY

Gross margin

471,8 k €

-11.1% YoY

Equity

2,2 M €

+0.0% YoY

Workforce

5,0 ETP

-7.4% YoY

What does SAPI do?

SAPI is a Private limited company incorporated in 2011. Its main activity is: Wholesale of furniture, carpets and lighting equipment. Its registered office is in Aalter. It employs on average 5,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0838.527.683

Incorporation

10/08/2011

Legal form

Private limited company

Registered office

Groendreef 66
9880 Aalter · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

5,0 ETP

Activities (NACE)

46473Wholesale of furniture, carpets and lighting equipment· main 46474Wholesale of furniture, carpets and lighting equipment 68100Buying and selling of own real estate 68110Buying and selling of own real estate 27402Manufacture of electric lighting equipment 27402Manufacture of electric lighting equipment+6

Joint committees (4)

14904
200
209
218

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	471,8 k €	-11.1%	530,7 k €	-9.5%	586,6 k €	+2.8%	570,6 k €	+8.8%	524,6 k €	+109%	250,5 k €	+22.6%	204,3 k €	-65.2%	586,5 k €	-13.6%	679,1 k €	+20.9%	561,9 k €	-19.2%	695,0 k €	-6.2%	740,8 k €	-6.6%	792,8 k €	-39.8%	1,3 M €
EBITDA	129,3 k €	-35.4%	200,1 k €	-10.7%	224,2 k €	+1.7%	220,4 k €	+2.1%	215,8 k €	+390%	44,1 k €	+83.5%	24,0 k €	-94.9%	470,4 k €	-12.5%	537,4 k €	+23.1%	436,6 k €	-14.3%	509,5 k €	-12.8%	584,2 k €	-6.9%	627,7 k €	-42.3%	1,1 M €
Operating result	129,3 k €	-35.4%	200,1 k €	-10.7%	224,2 k €	+1.7%	220,4 k €	+2.1%	215,8 k €	+390%	44,1 k €	+304%	10,9 k €	-97.6%	452,6 k €	-12.9%	519,6 k €	+24.3%	418,2 k €	-14.8%	491,1 k €	-15.2%	578,9 k €	-7.8%	627,7 k €	-42.3%	1,1 M €
Net result	498,4 €	-72.3%	1,8 k €	+1478%	114,0 €	+163%	43,4 €	-99.6%	9,8 k €	+107%	-139,9 k €	-107%	2,1 M €	+3605%	-59,3 k €	-885%	7,5 k €	+108%	-93,1 k €	-384%	-19,2 k €	-148%	40,4 k €	-48.7%	78,9 k €	-68.3%	249,1 k €
Balance sheet
Equity	2,2 M €	+0.0%	2,2 M €	+0.1%	2,2 M €	+0.0%	2,2 M €	+0.0%	2,2 M €	+0.5%	2,2 M €	-6.1%	2,3 M €	+932%	222,9 k €	-21.0%	282,2 k €	+2.7%	274,7 k €	-25.3%	367,8 k €	-5.0%	387,0 k €	+11.7%	346,6 k €	+29.5%	267,7 k €
Total assets	10,3 M €	-0.5%	10,3 M €	-1.1%	10,4 M €	-0.7%	10,5 M €	+0.1%	10,5 M €	+0.8%	10,4 M €	-5.2%	11,0 M €	+3.7%	10,6 M €	-0.6%	10,6 M €	-1.3%	10,8 M €	-0.2%	10,8 M €	-0.5%	10,9 M €	-0.5%	10,9 M €	-0.1%	10,9 M €
Cash	50,7 k €	-29.9%	72,3 k €	-33.9%	109,3 k €	-63.2%	296,7 k €	+35.5%	219,0 k €	+28.9%	169,9 k €	-77.8%	766,2 k €	+110%	364,7 k €	+13.0%	322,7 k €	-35.2%	497,8 k €	-1.8%	506,8 k €	-18.8%	624,2 k €	-9.5%	689,9 k €	-1.3%	699,1 k €
Debts	7,9 M €	-1.8%	8,1 M €	-0.5%	8,1 M €	-0.5%	8,2 M €	-1.1%	8,3 M €	+0.6%	8,2 M €	-4.9%	8,6 M €	-16.4%	10,3 M €	-0.0%	10,3 M €	-1.4%	10,5 M €	+0.8%	10,4 M €	-0.4%	10,4 M €	-0.9%	10,5 M €	-0.8%	10,6 M €
Other
Workforce	5,0 ETP	-7.4%	5,4 ETP	-12.9%	6,2 ETP	-8.8%	6,8 ETP	0.0%	6,8 ETP	+36.0%	5,0 ETP	+19.0%	4,2 ETP	+55.6%	2,7 ETP	-20.6%	3,4 ETP	+17.2%	2,9 ETP	-29.3%	4,1 ETP	+7.9%	3,8 ETP	-7.3%	4,1 ETP	-8.9%	4,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

PIETER MORTIER

Director · since 19 octobre 2023 · 0880.082.780

Represented by Pieter Mortier

Active

SASKIA MORTIER

Director · since 19 octobre 2023 · 0880.083.869

Represented by Saskia Mortier

Active

Ended mandates

PIETER MORTIER

Manager · since 01 septembre 2011 · 0880.082.780

Represented by Pieter Mortier

Ended

SASKIA MORTIER

Manager · since 01 septembre 2011 · 0880.083.869

Represented by Saskia Mortier

Ended

PIETER MORTIER

Manager · 0880.082.780

Represented by Pieter Mortier

Ended

PIETER MORTIER

Director · 0880.082.780

Represented by Pieter Mortier

Ended

At this address

Other companies at this address

Company	CBE no.
Burgerlijke Maatschap MORTIER● Active	0725.713.220
GERIMO● Active	0472.495.413

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/07/2026	29/07/2025	14/07/2024	15/07/2023	04/04/2022	25/06/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	01/04/2022	25/06/2021
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	17/07/2026	Dutch	PDF
Abridged model	31/12/2024	27/06/2025	29/07/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	14/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	15/07/2023	Dutch	PDF
Abridged model	31/12/2021	01/04/2022	04/04/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	25/06/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	28/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	19/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	23/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	28/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	10/07/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	29/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	02/08/2013	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 31/12/2025 · 2 active · 8 ended

Active mandates

PIETER MORTIER

Director · since 19 octobre 2023 · 0880.082.780

Represented by Pieter Mortier

Active

SASKIA MORTIER

Director · since 19 octobre 2023 · 0880.083.869

Represented by Saskia Mortier

Active

Ended mandates

PIETER MORTIER

Manager · since 01 septembre 2011 · 0880.082.780

Represented by Pieter Mortier

Ended

SASKIA MORTIER

Manager · since 01 septembre 2011 · 0880.083.869

Represented by Saskia Mortier

Ended

PIETER MORTIER

Manager · 0880.082.780

Represented by Pieter Mortier

Ended

PIETER MORTIER

Director · 0880.082.780

Represented by Pieter Mortier

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/10/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/04/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/10/2011
ONTSLAGEN - BENOEMINGEN
PDF
Other25/08/2011
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025498,4 €↓
2024
Annual accounts 20241,8 k €↑
2023
Annual accounts 2023114,0 €↑
2022
Annual accounts 202243,4 €↓
2021
Annual accounts 20219,8 k €↑
2020
Annual accounts 2020-139,9 k €↓
2019
Annual accounts 20192,1 M €↑
2018
Annual accounts 2018-59,3 k €↓
2017
Annual accounts 20177,5 k €↑
2016
Annual accounts 2016-93,1 k €↓
2015
Annual accounts 2015-19,2 k €↓
2014
Annual accounts 201440,4 k €↓
2013
Annual accounts 201378,9 k €↓
2012
Annual accounts 2012249,1 k €
10/08/2011
IncorporationPrivate limited company

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

SAPI

Overview

What does SAPI do?

Trend over 14 financial years

Indicative valuation

Board of directors

Other companies at this address

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