Patrick Smet
ActiveSummary
Patrick Smet has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.71M and a net result of €855k. Equity is growing by ~13.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 2934 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240k at 30 days acceptable
Liquidity ample (current ratio 9.77 against 6.05 in 2023; short-term debt: 4.4% and cash: 11.6% of total assets), and 5.1% of the assets are financed with debt.
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Signals
Three 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
94.9%
Return on assets
30%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-06-2025, 58 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
51 d late
2022
417 d late
2021
61 d late
2020
66 d early
2019
28 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€2.71M▲ 0.9%
2023 · €2.68M
Total assets
€2.85M▼ 4.2%
2023 · €2.98M
Net result
€855k▼ 11.5%
2023 · €965k
Working capital
€1.11M▼ 25.5%
2023 · €1.49M
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
Line20202021202220232024
Operating result€1.00M▲ 0.5%€1.26M▲ 25.3%€1.30M▲ 3.3%€1.19M▼ 8.1%€1.11M▼ 7.0%
Net result€732k▲ 9.8%€971k▲ 32.6%€984k▲ 1.4%€965k▼ 2.0%€855k▼ 11.5%
Equity€1.67M▲ 20.3%€2.49M▲ 49.0%€3.02M▲ 20.9%€2.68M▼ 11.0%€2.71M▲ 0.9%
Total assets€2.06M▲ 9.2%€2.80M▲ 35.9%€3.65M▲ 30.4%€2.98M▼ 18.4%€2.85M▼ 4.2%
Debt€384k▼ 21.9%€304k▼ 21.1%€634k▲ 109%€294k▼ 53.6%€144k▼ 51.0%
Working capital€1.67M▲ 20.4%€1.89M▲ 13.5%€2.26M▲ 19.3%€1.49M▼ 34.1%€1.11M▼ 25.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 7% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.85M
Fixed assets
€1.62M ▲ 35.2%
Current assets
€1.23M ▼ 30.7%
Equity and liabilities €2.85M
Equity
€2.71M ▲ 0.9%
Debt
€144k ▼ 51.0%
Debt's share of the balance-sheet total falls from 9.9% to 5.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.13M▼
2023 · €1.20M
Cash flow
€877k▼
2023 · €972k
Current ratio
9.77▲
2023 · 6.05
Debt to equity
0.05▼
2023 · 0.11
ROE
31.6%▼
2023 · 36.0%
ROA
30.0%▼
2023 · 32.4%
Interest coverage
153.03▲
2023 · -201.62
Debt ≤ 1 year
€126k▼
2023 · €294k
Income taxes
€268k▼
2023 · €310k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €5k | €7k | €23k | ▲ 208% |
| Other operating charges640/8 | - | €45k | €7k | €6k | €7k | ▲ 11.7% |
| Gross operating margin9900 | €1.01M | €1.30M | €1.31M | €1.21M | €1.14M | ▼ 5.6% |
| Operating profit (loss)9901 | €1.00M | €1.26M | €1.30M | €1.19M | €1.11M | ▼ 7.0% |
| Financial income75/76B | - | €66k | €38k | €75k | €20k | ▼ 73.3% |
| Recurring financial income75 | €28k | €66k | €38k | €75k | €20k | ▼ 73.3% |
| Financial charges65/66B | - | €185 | €25k | €-6k | €7k | ▲ 224% |
| Recurring financial charges65 | €41k | €185 | €25k | €-6k | €7k | ▲ 224% |
| Profit (loss) for the period before taxes9903 | €990k | €1.32M | €1.31M | €1.27M | €1.12M | ▼ 11.9% |
| Income taxes67/77 | €258k | €353k | €328k | €310k | €268k | ▼ 13.4% |
| Profit (loss) for the period9904 | €732k | €971k | €984k | €965k | €855k | ▼ 11.5% |
| Transfer from tax-exempt reserves789 | - | €8k | €356k | €178k | €0 | ▼ 100% |
| Transfer to tax-exempt reserves689 | - | - | - | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €732k | €979k | €1.34M | €1.14M | €855k | ▼ 25.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.06M | €2.80M | €3.65M | €2.98M | €2.85M | ▼ 4.2% |
| Fixed assets21/28 | €7k | €602k | €791k | €1.20M | €1.62M | ▲ 35.2% |
| Tangible fixed assets22/27 | €7k | €602k | €791k | €1.20M | €1.62M | ▲ 35.2% |
| Land and buildings22 | - | - | - | - | €1.49M | - |
| Plant, machinery and equipment23 | - | €4k | €3k | €3k | €4k | ▲ 43.2% |
| Furniture and vehicles24 | - | €2k | €27k | €25k | €129k | ▲ 422% |
| Assets under construction and advance payments27 | - | €596k | €761k | €1.17M | €0 | ▼ 100% |
| Current assets29/58 | €2.05M | €2.20M | €2.86M | €1.78M | €1.23M | ▼ 30.7% |
| Amounts receivable after more than one year29 | - | €882k | €792k | €510k | €327k | ▼ 35.9% |
| Other amounts receivable291 | - | €882k | €792k | €510k | €327k | ▼ 35.9% |
| Amounts receivable within one year40/41 | €302k | €416k | €580k | €441k | €467k | ▲ 5.9% |
| Trade receivables40 | - | €277k | €393k | €362k | €387k | ▲ 6.9% |
| Other amounts receivable41 | - | €139k | €188k | €79k | €80k | ▲ 1.1% |
| Current investments50/53 | - | €300k | €280k | €337k | €87k | ▼ 74.3% |
| Cash at bank and in hand54/58 | €763k | €578k | €1.17M | €455k | €332k | ▼ 27.2% |
| Deferred charges and accrued income490/1 | - | €20k | €34k | €39k | €23k | ▼ 41.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.06M | €2.80M | €3.65M | €2.98M | €2.85M | ▼ 4.2% |
| Equity10/15 | €1.67M | €2.49M | €3.02M | €2.68M | €2.71M | ▲ 0.9% |
| Contributions10/11 | - | €20k | €20k | €20k | €20k | = |
| Reserves13 | €1.52M | €1.71M | €1.69M | €1.85M | €1.53M | ▼ 16.9% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €541k | €185k | €343k | €343k | = |
| Distributable reserves133 | - | €1.17M | €1.50M | €1.50M | €1.19M | ▼ 20.8% |
| Profit (loss) carried forward14 | €132k | €761k | €1.31M | €817k | €1.15M | ▲ 41.2% |
| Amounts payable17/49 | €384k | €304k | €634k | €294k | €144k | ▼ 51.0% |
| Amounts payable within one year42/48 | €384k | €303k | €601k | €294k | €126k | ▼ 57.1% |
| Trade debts44 | €4k | €88k | €22k | €101k | €61k | ▼ 39.6% |
| Suppliers440/4 | - | €88k | €22k | €101k | €61k | ▼ 39.6% |
| Taxes, remuneration and social security45 | - | €216k | €255k | €43k | €65k | ▲ 51.4% |
| Taxes450/3 | - | €216k | €255k | €43k | €65k | ▲ 51.4% |
| Other amounts payable47/48 | - | - | €325k | €150k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €193 | €33k | €0 | €18k | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €732k | €971k | €984k | €965k | €855k | ▼ 11.5% |
| + Depreciation and write-downs630 | €2k | €2k | €5k | €7k | €23k | ▲ 208% |
| Operating cash flow (approximation) | €734k | €972k | €989k | €972k | €877k | ▼ 9.8% |
| Investment in fixed assets (approximation) | - | €-597k | €-194k | €-414k | €-444k | ▼ 7.2% |
| Change in cash | - | €-185k | €595k | €-717k | €-124k | ▲ 82.8% |
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
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 51 days late
20-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 417 days late
2022
31-12
Financial
Highest result since 2018net €984k ▲1.4%
Operating result €1.30M, net result €984k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 61 days late
2021
31-12
Financial
Equity above €2MEq €2.49M ▲49%
4 profitable years in a row build equity to €2.49M.
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €666k ▼0.8%
Net result drops to €666k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €1MEq €1.39M ▲91.8%
2 profitable years in a row build equity to €1.39M.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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-Niklaas · 1 establishment unit since 2017
1 establishment unit
Patrick Smet
since 20172.263.583.486
Recognitions · licences · registrations
Legal Entity Identifier
894500I7XEUBFG6NWQ51
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Of 22,069 companies in sector 69101 we hold annual accounts for 9,052. 2,195 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
Founded21-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
Scores and ratios are computed by Checked and are not a credit decision.