CURSOR SYSTEMS
ActiveSummary
CURSOR SYSTEMS has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €140,870 and a net result of €38,340. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 36% of 130 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+3
Solvency67▼-3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 1.65 against 1.83 in 2024; short-term debt: 56% and cash: 4.5% of total assets), but 58.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 26
Relative position
BE, all sectors
reference
Manufacture of computer, electronic and optical products (NACE 26)
about 73% fewer 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
41.5%
Return on assets
11.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
7 d early
2023
13 d early
2022
14 d early
2021
16 d early
2020
44 d early
2019
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 18 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€38,340▲ 37.0%
2024 · €27,991
Working capital
€124,322▲ 1.3%
2024 · €122,673
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€42,331▼ 10.9%€42,322=€30,901▼ 27.0%€39,740▲ 28.6%€52,390▲ 31.8%
Net result€30,744▼ 11.8%€30,679▼ 0.2%€21,546▼ 29.8%€27,991▲ 29.9%€38,340▲ 37.0%
Equity€127,314▲ 4.7%€132,994▲ 4.5%€134,540▲ 1.2%€137,530▲ 2.2%€140,870▲ 2.4%
Total assets€236,479▲ 2.6%€298,865▲ 26.4%€290,470▼ 2.8%€303,741▲ 4.6%€339,148▲ 11.7%
Debt€109,165▲ 0.2%€165,872▲ 51.9%€155,930▼ 6.0%€166,210▲ 6.6%€198,278▲ 19.3%
Working capital€123,544▲ 10.6%€128,993▲ 4.4%€121,343▼ 5.9%€122,673▲ 1.1%€124,322▲ 1.3%
Staff (FTE)00
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 32% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €339,148
Fixed assets
€24,782 ▼ 24.8%
Current assets
€314,367 ▲ 16.1%
Equity and liabilities €339,148
Equity
€140,870 ▲ 2.4%
Debt
€198,278 ▲ 19.3%
Debt's share of the balance-sheet total rises from 54.7% to 58.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€60,566▲
2024 · €47,932
Cash flow
€46,516▲
2024 · €36,183
Current ratio
1.65▼
2024 · 1.83
Quick ratio
1.43▼
2024 · 1.56
Debt to equity
1.41▲
2024 · 1.21
ROE
27.2%▲
2024 · 20.4%
ROA
11.3%▲
2024 · 9.2%
Interest coverage
81.04▲
2024 · 51.26
Debt ≤ 1 year
€190,044▲
2024 · €148,110
Debt > 1 year
€8,234▼
2024 · €18,100
Income taxes
€13,357▲
2024 · €10,833
Staff costs
€5,870▲
2024 · €4,244
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €4,751 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | €4,674 | €4,244 | €5,870 | ▲ 38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,138 | €2,198 | €1,177 | €8,192 | €8,177 | ▼ 0.2% |
| Other operating charges640/8 | €1,315 | €1,903 | €1,304 | €859 | €868 | ▲ 1.1% |
| Gross operating margin9900 | €49,784 | €46,423 | €38,057 | €53,034 | €67,305 | ▲ 26.9% |
| Operating profit (loss)9901 | €42,331 | €42,322 | €30,901 | €39,740 | €52,390 | ▲ 31.8% |
| Financial income75/76B | €18 | €481 | €162 | €19 | €55 | ▲ 193% |
| Recurring financial income75 | €18 | €481 | €162 | €19 | €55 | ▲ 193% |
| Financial charges65/66B | €359 | €470 | €697 | €935 | €747 | ▼ 20.1% |
| Recurring financial charges65 | €359 | €470 | €697 | €935 | €747 | ▼ 20.1% |
| Profit (loss) for the period before taxes9903 | €41,990 | €42,333 | €30,366 | €38,824 | €51,697 | ▲ 33.2% |
| Income taxes67/77 | €11,246 | €11,654 | €8,820 | €10,833 | €13,357 | ▲ 23.3% |
| Profit (loss) for the period9904 | €30,744 | €30,679 | €21,546 | €27,991 | €38,340 | ▲ 37.0% |
| Profit (loss) for the period to be appropriated9905 | €30,744 | €30,679 | €21,546 | €27,991 | €38,340 | ▲ 37.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €236,479 | €298,865 | €290,470 | €303,741 | €339,148 | ▲ 11.7% |
| Fixed assets21/28 | €3,771 | €4,001 | €41,150 | €32,958 | €24,782 | ▼ 24.8% |
| Intangible fixed assets21 | €1,607 | - | - | - | - | - |
| Tangible fixed assets22/27 | €738 | €2,326 | €39,475 | €31,283 | €23,107 | ▼ 26.1% |
| Plant, machinery and equipment23 | €738 | €2,326 | €1,799 | €1,273 | €762 | ▼ 40.2% |
| Leasing and similar rights25 | - | - | €37,676 | €30,010 | €22,345 | ▼ 25.5% |
| Financial fixed assets28 | €1,425 | €1,675 | €1,675 | €1,675 | €1,675 | = |
| Current assets29/58 | €232,708 | €294,864 | €249,320 | €270,783 | €314,367 | ▲ 16.1% |
| Stocks and contracts in progress3 | €30,755 | €30,637 | €32,149 | €39,100 | €42,506 | ▲ 8.7% |
| Stocks30/36 | €30,755 | €30,637 | €32,149 | €39,100 | €42,506 | ▲ 8.7% |
| Amounts receivable within one year40/41 | €173,444 | €251,800 | €200,078 | €226,492 | €256,361 | ▲ 13.2% |
| Trade receivables40 | €173,444 | €251,800 | €200,078 | €226,492 | €256,361 | ▲ 13.2% |
| Cash at bank and in hand54/58 | €28,509 | €12,428 | €16,078 | €4,634 | €15,266 | ▲ 229% |
| Deferred charges and accrued income490/1 | - | - | €1,014 | €557 | €234 | ▼ 58.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €236,479 | €298,865 | €290,470 | €303,741 | €339,148 | ▲ 11.7% |
| Equity10/15 | €127,314 | €132,994 | €134,540 | €137,530 | €140,870 | ▲ 2.4% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €65,341 | €71,020 | €72,566 | €75,557 | €78,897 | ▲ 4.4% |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Distributable reserves133 | €59,144 | €64,823 | €66,369 | €69,360 | €72,700 | ▲ 4.8% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €109,165 | €165,872 | €155,930 | €166,210 | €198,278 | ▲ 19.3% |
| Amounts payable after more than one year17 | - | - | €27,953 | €18,100 | €8,234 | ▼ 54.5% |
| Financial debts170/4 | - | - | €27,953 | €18,100 | €8,234 | ▼ 54.5% |
| Amounts payable within one year42/48 | €109,165 | €165,872 | €127,977 | €148,110 | €190,044 | ▲ 28.3% |
| Current portion of amounts payable after more than one year42 | - | - | €9,019 | €9,808 | €8,956 | ▼ 8.7% |
| Trade debts44 | €68,607 | €116,184 | €85,271 | €92,606 | €131,307 | ▲ 41.8% |
| Suppliers440/4 | €68,607 | €116,184 | €85,271 | €92,606 | €131,307 | ▲ 41.8% |
| Taxes, remuneration and social security45 | €15,557 | €24,688 | €13,688 | €20,696 | €14,782 | ▼ 28.6% |
| Taxes450/3 | €15,557 | €24,688 | €13,688 | €20,696 | €14,782 | ▼ 28.6% |
| Other amounts payable47/48 | €25,000 | €25,000 | €20,000 | €25,000 | €35,000 | ▲ 40.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,744 | €30,679 | €21,546 | €27,991 | €38,340 | ▲ 37.0% |
| + Depreciation and write-downs630 | €6,138 | €2,198 | €1,177 | €8,192 | €8,177 | ▼ 0.2% |
| Operating cash flow (approximation) | €36,881 | €32,878 | €22,723 | €36,183 | €46,516 | ▲ 28.6% |
| Investment in fixed assets (approximation) | - | -€2,429 | -€38,327 | €0 | €0 | - |
| Change in cash | - | -€16,082 | €3,651 | -€11,445 | €10,632 | ▲ 193% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €21,546 ▼29.8%
Net result drops to €21,546, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €50,766 ▲36.7%
Operating result €73,429, net result €50,766, both a record.
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Katelijne-Waver · 1 establishment unit since 1998
Ground area
183 m²
Building footprint
151 m²
Volume, LiDAR
790 m³
Parcel 12422D0238/00V000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CURSOR SYSTEMS
since 19982.086.022.414
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12422D0238/00V000 | Flanders | 183 m² | 1 · 151 m² | 7.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 213 companies in sector 26510 we hold annual accounts for 166. 91 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-03-1998
Fiscal year end31-12
Activities, NACEBEL 2025
26510Manufacture of computer, electronic and optical products
Contact
E-mail
eric@cursor-systems.beSint-Katelijne-Waver
Phone
015273985Sint-Katelijne-Waver
Scores and ratios are computed by Checked and are not a credit decision.