Equity
€10.0m ▲ 1.8%
D.S. SYSTEMS has made a profit in every financial year since 2006.
D.S. SYSTEMS
Lifetime
20 annual accounts with figures on one time axis, 36 filings since 1990peak €972,643 (2021)
€146,907▼ 43.8%
peak €1.5m (2022)
€178,476▼ 24.3%
peak €10.0m (2025)
€10.0m▲ 1.8%
€157,584▲ 8.9%
peak 3.4 FTE (2012)
-not published
Board5 names since 2020
2 directorsBenny De Schutter and 1 other
Documentsfilings and deeds
04-06-202657 days before the deadline
2025micro format
Gross margin from €261,454 to €146,907Resignations & appointments 23-07
Key points
from the 2025 annual accountsFilings
36 annual accounts since 1990
Two of the last ten came late. The 2022 accounts came latest: 31 days after the end of the period.
Position in the sector
98.5%
Higher solvency than 95% of companies in wholesale trade. Sector median 40.4% · 13,807 companies.
Checked score
97
Excellent
Financially stronger than 78% of medium-sized companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 745 companies (NACE 46, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025highest value
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026lowest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 140.70, cash €9.4m
Size: total assets €10.2m
Equity €10.0m (98.5% of total assets)
Founded in 1989
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, medium-sized). It does better than 93% of them on solvency, 99% on liquidity, 76% on profitability and 43% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,887 companies had the same profile as D.S. SYSTEMS has now. Each dot stands for 5 companies, two years later.
97.9%
were still trading
2.0%
stopped another way
0.1%
went bankrupt
That fits the bankruptcy probability of D.S. SYSTEMS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,887 companies, not a prediction for D.S. SYSTEMS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €950,000 on 30-day terms is acceptable
Short-term debt is 0.7% and cash 92% of total assets. 1.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 days early
2024
42 days early
2023
30 days early
2022
31 days late
2021
31 days early
2020
30 days late
2019
14 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 16 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Reappointments: Karina Van Praet (director) and Benny De Schutter (director)
General meeting of 29-05-2026 · Gazette deed
Resignations & appointments
General meeting of 31-10-2024 · Gazette deed
Environmental permit refused
Bouwen of herbouwen, Ontbossen, Slopen van niet vrijstaande gebouwen of constructies and 2 more · Provincie Oost-Vlaanderen
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Kapelle-op-den-Bos
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| D.S. SYSTEMS Kapelle-op-den-Bos | €10.2m | €146,907 | 98.5% | - |
| RIBA HOLDING Brecht | €7.0m | €109,501 | 65.0% | 2.7 |
| DISA Herstal | €7.4m | €243,262 | 11.2% | 2 |
| SPARNEX Antwerp | €15.8m | €215,400 | 22.1% | - |
| EUROCAVI EUROPE Ixelles | €6.7m | €339,647 | 50.7% | 6 |
| ENVIRONMENTAL INDUSTRIAL POWER APPLICATIONS Nieuwerkerken (Limb.) | €6.7m | €366,380 | 12.7% | 0 |
| ANKA Wommelgem | €7.1m | €421,382 | 23.7% | 7.4 |
These companies have the same main activity as D.S. SYSTEMS: wholesale of electrical equipment, including installation materials (NACE 46643). They are comparable in size and age: total assets between €6.7m and €16m, founded between 1979 and 1995.
Official details
Source: KBO- Status
- Active since 25-05-1989Normal situation
- Activity
- Wholesale of electrical equipment, including installation materialsNACE 46643and 4 others
- Joint committee
- 149.04Metal trade · annual accounts 2023
- Establishment units
- 2.052.012.1351880 Kapelle-op-den-Bos, since 19-03-1991
- 2.192.814.2666941 Durbuy, since 01-04-2008
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Annual accounts 2025
- ≈ €730,000estimated
- €10.2m▲ 1.9%
- Filing
- Filed on 04-06-2026, 57 days before the end of the filing period
Insights on D.S. SYSTEMS
D.S. SYSTEMS files the micro format. That format states no turnover. The gross margin fell from €469,227 in 2006 to €146,907 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about D.S. SYSTEMS
- What is the company number of D.S. SYSTEMS?
- The company number of D.S. SYSTEMS is 0437.562.347. The VAT number is the same number with BE in front: BE 0437.562.347.
- Where is D.S. SYSTEMS based?
- The registered office is at Paddegatstraat 49, 1880 Kapelle-op-den-Bos.Company details
- What does D.S. SYSTEMS do?
- According to the KBO register, the main activity is wholesale of electrical equipment, including installation materials (NACE 46643).
- What is the legal form of D.S. SYSTEMS?
- D.S. SYSTEMS is a public limited company (NV).
- When was D.S. SYSTEMS founded?
- D.S. SYSTEMS was founded on 25-05-1989.
- Is D.S. SYSTEMS still active?
- Yes, D.S. SYSTEMS is an active enterprise in the KBO register.
- How many employees does D.S. SYSTEMS have?
- D.S. SYSTEMS had an average of 0.4 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- Which joint committee does D.S. SYSTEMS fall under?
- In its 2023 annual accounts, D.S. SYSTEMS states joint committee 149.04 (Metal trade).
- What is the turnover of D.S. SYSTEMS?
- The turnover in financial year 2025 is ≈ €730,000. This figure is estimated from the gross margin of €146,907 and 59 comparable companies (NACE 46). It probably lies between €350,000 and €1.4m. In financial year 2019 turnover was €779,273.
- Is D.S. SYSTEMS profitable?
- In financial year 2025, D.S. SYSTEMS made a profit of €178,476.
- Where can I find the annual accounts of D.S. SYSTEMS?
- D.S. SYSTEMS filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of D.S. SYSTEMS due?
- D.S. SYSTEMS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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