DBS Systems · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of DBS Systems is 3.1% (moderate). The 2023 annual accounts show equity of €40k and a net result of €9k. Equity is growing by ~41% per year across the filed fiscal years. Its solvency ranks better than 95% of 9177 sector peers (fiscal year 2023). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Signals

3 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 95% of 9177 peers (2023). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2022 and 2023).

View the result trend

Growing equity

Equity grew over 2021-2023. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 381 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed after the deadline

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-08-2024, 29 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.

How we compute the deadline

The year end is derived from 3 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	29-08-2024	29 d late	2024-00445672
31-12-2022	31-07-2023	10-07-2023	21 d early	2023-00219312
31-12-2021	31-07-2022	25-08-2022	25 d late	2022-20318153

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

3.1% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€9k-42.2%

Working capital€27k+24.8%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 29-08-2024 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~41%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	89.4%	38.6%	better than 95% of 9177 sector peers
Net result	€9k	€12k	better than 45% of 9162 sector peers
Equity	€40k	€30k	better than 59% of 9184 sector peers
Gross operating margin	€15k	€33k	better than 28% of 9151 sector peers
Total assets	€45k	€90k	better than 25% of 9178 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P95

Stable position over 2021-2023 · n=3655-9177

Net result P45

Stable position over 2021-2023 · n=3647-9162

Equity P59

Improving position over 2021-2023 · n=3660-9184

Gross operating margin P28

Stable position over 2021-2023 · n=3647-9151

Describes the position versus peers, not a forecast.

EBITDA

€14k

-33.8% 21-23

Net profit

€9k

-42.2% 21-23

Cash flow

€10k

-38.6% 21-23

Total assets

€45k

+12.9% 21-23

Equity

€40k

+30.1% 21-23

Working capital

€27k

+24.8% 21-23

Staff costs

€146

- 21-23

Income taxes

€3k

-37.3% 21-23

Show 9 other metrics

Debt

€5k

-46.6% 21-23

Debt ≤ 1y

€5k

-46.6% 21-23

Current ratio

6.68

+94.7% 21-23

Quick ratio

6.68

+94.7% 21-23

Solvency

89.4%

+15.2% 21-23

Debt / equity

0.12

-58.9% 21-23

ROE

23.1%

-55.6% 21-23

ROA

20.7%

-48.8% 21-23

Interest coverage

11.60

-78.0% 21-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	€14k
Net profit	€9k
Cash flow	€10k
Staff costs	-
Income taxes	€3k
Dividends	-
Total assets	€45k
Equity	€40k
Debt	€5k
of which ≤ 1y	€5k
of which > 1y	-
Working capital	€27k
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	6.68
Quick ratio	6.68
Working capital ratio	60.4%
Solvency	89.4%
Debt / equity	0.12
Long-term debt ratio	-
Interest coverage	11.60
Gross margin	-
Net margin	-
ROA	20.7%
ROE	23.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Assets

Fixed assets €13k · 29.0% Current assets €32k · 71.0%

Equity & liabilities

Equity €40k · 89.4% Debt €5k · 10.6%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€45k
Fixed assets	21/28	€13k
Tangible fixed assets	22/27	€13k
Current assets	29/58	€32k
Amounts receivable within one year	40/41	€32k
Cash & bank	54/58	€240
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€45k
Equity	10/15	€40k
Contributions / capital	10/11	€3k
Accumulated profits (losses)	14	€37k
Amounts payable	17/49	€5k
Amounts payable within one year	42/48	€5k
Trade debts payable within one year	44	€380
Income statement
Gross operating margin	9900	€15k
Operating result	9901	€13k
Financial income	75	€2
Financial charges	65	€1k
Result before taxes	9903	€12k
Income taxes	67/77	€3k
Net result for the period	9904	€9k
Result to be appropriated	9905	€9k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

93 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Dr. Victor Van Cauterenstraat 1009240 Zele

Establishment units

1 location

DBS Systems

Dr. Victor Van Cauterenstraat 100, 9240 ZeleAlgemene bouw van residentiële gebouwen

since 20202.311.727.556

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area123 m²

Buildings1

Building footprint50 m²

Volume (LiDAR)299 m³

Tallest building9.6 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)