COMPOSITE SYSTEMS
ActiveSummary
COMPOSITE SYSTEMS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-216) and a net result of €-12k. Equity is shrinking by ~19.4% per year across the filed fiscal years. Its solvency ranks better than 15% of 128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency24▼-76
Growth58=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.08 against 4.42 in 2024; short-term debt: 92.5% and cash: 98.5% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-0.8%
Return on assets
-43.9%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 22
Relative position
BE, all sectors
reference
Manufacture of rubber and plastic products (NACE 22)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-216
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-02-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
27 d late
2023
28 d late
2022
26 d late
2021
28 d late
2020
28 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-216
2024 · €72k
2019: €88khighest in 7 years
2020: €62k▼ -29.5% vs 2019
2021: €43k▼ -30.6% vs 2020
2022: €27k▼ -38.2% vs 2021
2023: €56k▲ +109% vs 2022
2024: €72k▲ +29.0% vs 2023
2025: €-216▼ -100% vs 2024lowest in 7 years
2019 → 2025
Total assets
€27k▼ 70.7%
2024 · €93k
2019: €97khighest in 7 years
2020: €70k▼ -28.0% vs 2019
2021: €48k▼ -31.4% vs 2020
2022: €32k▼ -32.3% vs 2021
2023: €59k▲ +82.7% vs 2022
2024: €93k▲ +56.5% vs 2023
2025: €27k▼ -70.7% vs 2024lowest in 7 years
2019 → 2025
Net result
€-12k
2024 · €35k
2019: €-14k
2020: €-11k▲ +18.9% vs 2019
2021: €-19k▼ -71.6% vs 2020lowest in 7 years
2022: €-8k▲ +59.0% vs 2021
2023: €35k▲ +545% vs 2022
2024: €35k▲ +0.2% vs 2023highest in 7 years
2025: €-12k▼ -134% vs 2024
2019 → 2025
Working capital
€2k▼ 97.2%
2024 · €72k
2019: €91khighest in 7 years
2020: €64k▼ -29.8% vs 2019
2021: €45k▼ -29.3% vs 2020
2022: €27k▼ -41.0% vs 2021
2023: €57k▲ +114% vs 2022
2024: €72k▲ +26.5% vs 2023
2025: €2k▼ -97.2% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€43k-€27k▼ 38.2%€56k▲ 109%€72k▲ 29.0%€-216
2021: €43k
2022: €27k▼ -38.2% vs 2021
2023: €56k▲ +109% vs 2022
2024: €72k▲ +29.0% vs 2023highest in 5 years
2025: €-216▼ -100% vs 2024lowest in 5 years
Operating result€-19k-€-8k▲ 60.3%€35k€40k▲ 16.0%€-8k
2021: €-19klowest in 5 years
2022: €-8k▲ +60.3% vs 2021
2023: €35k▲ +564% vs 2022
2024: €40k▲ +16.0% vs 2023highest in 5 years
2025: €-8k▼ -119% vs 2024
Net result€-19k-€-8k▲ 59.0%€35k€35k▲ 0.2%€-12k
2021: €-19klowest in 5 years
2022: €-8k▲ +59.0% vs 2021
2023: €35k▲ +545% vs 2022
2024: €35k▲ +0.2% vs 2023highest in 5 years
2025: €-12k▼ -134% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €8k after €40k in 2024.
Key figures and ratios
Solvency
-0.8%▼
2024 · 77.4%
Current ratio
1.08▼
2024 · 4.42
ROA
-43.9%▼
2024 · 37.5%
Debt
€27k▲
2024 · €21k
Debt ≤ 1 year
€25k▲
2024 · €21k
Income taxes
€3k▼
2024 · €6k
Equity ratios withheld: equity of €-216 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 34 lines
Balance sheet
Code20242025
Assets
Total assets20/58€93k€27k▼
Current assets29/58€93k€27k▼
Amounts receivable within one year40/41€10k€402▼
Other amounts receivable41€10k€402▼
Cash at bank and in hand54/58€83k€27k▼
Equity and liabilities
Total equity and liabilities10/49€93k€27k▼
Equity10/15€72k€-216▼
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€70k€-2k▼
Amounts payable17/49€21k€27k▲
Amounts payable within one year42/48€21k€25k▲
Trade debts44€101-
Suppliers440/4€101-
Taxes, remuneration and social security45-€18k
Taxes450/3-€18k
Other amounts payable47/48€21k€7k▼
Accrued charges and deferred income492/3-€2k
Income statement
Code20242025
Other operating charges640/8€581€483▼
Gross operating margin9900€41k€-7k▼
Operating profit (loss)9901€40k€-8k▼
Financial income75/76B€251€1▼
Recurring financial income75€251€1▼
Financial charges65/66B€507€2k▲
Recurring financial charges65€507€2k▲
Profit (loss) for the period before taxes9903€40k€-9k▼
Income taxes67/77€6k€3k▼
Profit (loss) for the period9904€35k€-12k▼
Profit (loss) for the period to be appropriated9905€35k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€70k€58k▼
Profit (loss) brought forward from the previous period14P€35k€70k▲
Profit to be distributed694/7-€60k
Return on contributions (dividend)694-€60k
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €478 | €412 | €581 | €483 | ▼ 16.9% |
| Gross operating margin9900 | €-18k | €-7k | €35k | €41k | €-7k | ▼ 118% |
| Operating profit (loss)9901 | €-19k | €-8k | €35k | €40k | €-8k | ▼ 119% |
| Financial income75/76B | - | €250 | €250 | €251 | €1 | ▼ 99.5% |
| Recurring financial income75 | €254 | €250 | €250 | €251 | €1 | ▼ 99.5% |
| Financial charges65/66B | - | €501 | €493 | €507 | €2k | ▲ 222% |
| Recurring financial charges65 | €293 | €501 | €493 | €507 | €2k | ▲ 222% |
| Profit (loss) for the period before taxes9903 | €-19k | €-8k | €35k | €40k | €-9k | ▼ 123% |
| Income taxes67/77 | - | - | - | €6k | €3k | ▼ 53.5% |
| Profit (loss) for the period9904 | €-19k | €-8k | €35k | €35k | €-12k | ▼ 134% |
| Profit (loss) for the period to be appropriated9905 | €-19k | €-8k | €35k | €35k | €-12k | ▼ 134% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €48k | €32k | €59k | €93k | €27k | ▼ 70.7% |
| Current assets29/58 | €48k | €32k | €59k | €93k | €27k | ▼ 70.7% |
| Amounts receivable within one year40/41 | €7k | €8k | €9k | €10k | €402 | ▼ 96.0% |
| Trade receivables40 | - | €8k | €9k | - | - | - |
| Other amounts receivable41 | - | €7 | €13 | €10k | €402 | ▼ 96.0% |
| Cash at bank and in hand54/58 | €41k | €25k | €51k | €83k | €27k | ▼ 67.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €48k | €32k | €59k | €93k | €27k | ▼ 70.7% |
| Equity10/15 | €43k | €27k | €56k | €72k | €-216 | ▼ 100% |
| Contributions10/11 | - | €19k | €19k | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €23k | €6k | €35k | €70k | €-2k | ▼ 103% |
| Amounts payable17/49 | €5k | €6k | €4k | €21k | €27k | ▲ 30.5% |
| Amounts payable within one year42/48 | €3k | €6k | €3k | €21k | €25k | ▲ 19.8% |
| Trade debts44 | €61 | €64 | €147 | €101 | - | - |
| Suppliers440/4 | - | €64 | €147 | €101 | - | - |
| Taxes, remuneration and social security45 | - | €4k | €2k | - | €18k | - |
| Taxes450/3 | - | €4k | €2k | - | €18k | - |
| Other amounts payable47/48 | - | €2k | €24 | €21k | €7k | ▼ 65.9% |
| Accrued charges and deferred income492/3 | - | - | €1k | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-19k | €-8k | €35k | €35k | €-12k | ▼ 134% |
| Operating cash flow (approximation) | €-19k | €-8k | €35k | €35k | €-12k | ▼ 134% |
| Change in cash | - | €-16k | €26k | €32k | €-56k | ▼ 274% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
27-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
30-06
Financial
Highest result since 2019net €35k ▲0.2%
Operating result €40k, net result €35k, both a record.
28-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
30-06
Financial
Back to profitnet €35k
Net result €35k after 4 loss-making years.
30-06
Financial
Liquidity quadruplescurrent ratio 23.23
Current ratio from 5.52 to 23.23; short-term debt falls from €6k to €3k.
26-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
30-06
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
28-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
25-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 25 days late
2018
26-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 26 days late
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2001
Ground area
6,169 m²
Building footprint
5,834 m²
Volume, LiDAR
75,989 m³
2 parcels, Wallonia · tallest building 24.0 m, ±5 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
Rue du Prince 12, 4800 Verviers
since 20012.094.438.252
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62814C0151/00R000 | Wallonia | 5,418 m² | 1 · 4,935 m² | 24.0 m · 5 fl. |
| 63572B0034/00A009 | Wallonia | 751 m² | 1 · 899 m² | 17.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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Of 629 companies in sector 22240 we hold annual accounts for 360. 252 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-06-2001
Fiscal year end30-06
Activities, NACEBEL 2025
22240Manufacture of rubber and plastic products
Scores and ratios are computed by Checked and are not a credit decision.