PSYSTEM
ActiveSummary
PSYSTEM has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €217,905 and a net result of €43,112. Equity is growing by about 22% per year across the filed financial years. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €217,905
- Profit
- €43,112
Why 98raises riskNo main activity registeredlowers riskSize: total assets €244,932Liquidity: current ratio 8.94, cash €228,252Equity €217,905 (89.0% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (no NACE code, micro): better than 81% on solvency, 90% on liquidity, 73% on profitability and 79% on growth.
The bankruptcy probability was computed on 29-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 18 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €43,112 ▲29.7%
- Equity above €200,000equity €217,905 ▲24.7%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 27% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 34,693 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,693 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,006 | €18,006 | €10,681 | €11,010 | €1,843 | €513 | €328 | €590 | ▲ 79.9% |
| Other operating charges640/8 | - | - | - | €592 | €122 | €492 | €516 | €531 | ▲ 3.0% |
| Gross operating margin9900 | €20,089 | €4,661 | €35,420 | €24,066 | €36,943 | €38,179 | €47,538 | €60,631 | ▲ 27.5% |
| Operating profit (loss)9901 | €1,513 | -€13,454 | €23,825 | €12,464 | €34,979 | €37,174 | €46,694 | €59,509 | ▲ 27.4% |
| Financial income75/76B | - | - | - | €3 | - | €3 | €339 | €849 | ▲ 151% |
| Recurring financial income75 | - | €2 | - | €3 | - | €3 | €339 | €849 | ▲ 151% |
| Financial charges65/66B | - | - | - | €126 | €126 | €126 | €181 | €166 | ▼ 8.3% |
| Recurring financial charges65 | €617 | €147 | €86 | €126 | €126 | €126 | €181 | €166 | ▼ 8.3% |
| Profit (loss) for the period before taxes9903 | €896 | -€13,599 | €23,740 | €12,341 | €34,853 | €37,051 | €46,852 | €60,193 | ▲ 28.5% |
| Income taxes67/77 | €739 | €242 | €5,077 | €4,111 | €9,865 | €11,041 | €13,619 | €17,081 | ▲ 25.4% |
| Profit (loss) for the period9904 | €157 | -€13,841 | €18,663 | €8,230 | €24,988 | €26,010 | €33,234 | €43,112 | ▲ 29.7% |
| Profit (loss) for the period to be appropriated9905 | €157 | -€13,841 | €18,663 | €8,230 | €24,988 | €26,010 | €33,234 | €43,112 | ▲ 29.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €102,113 | €79,564 | €96,328 | €116,137 | €135,186 | €170,048 | €191,127 | €244,932 | ▲ 28.2% |
| Fixed assets21/28 | €38,839 | €20,833 | €13,181 | €2,171 | €328 | €1,457 | €1,129 | €3,252 | ▲ 188% |
| Intangible fixed assets21 | €30,833 | €20,833 | €10,833 | €833 | - | - | - | - | - |
| Tangible fixed assets22/27 | €8,006 | - | €2,348 | €1,338 | €328 | €1,457 | €1,129 | €3,252 | ▲ 188% |
| Furniture and vehicles24 | - | - | - | €1,338 | €328 | €1,457 | €1,129 | €3,252 | ▲ 188% |
| Current assets29/58 | €63,274 | €58,731 | €83,147 | €113,965 | €134,858 | €168,591 | €189,999 | €241,680 | ▲ 27.2% |
| Amounts receivable within one year40/41 | €14,930 | €16,019 | €3,935 | €4,889 | €135 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €4,889 | €135 | - | - | - | - |
| Cash at bank and in hand54/58 | €46,520 | €42,066 | €64,902 | €92,107 | €122,864 | €156,186 | €176,990 | €228,252 | ▲ 29.0% |
| Deferred charges and accrued income490/1 | - | - | - | €16,969 | €11,859 | €12,405 | €13,009 | €13,428 | ▲ 3.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €102,113 | €79,564 | €96,328 | €116,137 | €135,186 | €170,048 | €191,127 | €244,932 | ▲ 28.2% |
| Equity10/15 | €77,509 | €63,668 | €82,331 | €90,562 | €115,549 | €141,559 | €174,793 | €217,905 | ▲ 24.7% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,855 | €1,855 | €20,515 | €28,515 | €48,515 | €74,515 | €107,515 | €150,515 | ▲ 40.0% |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | - | - | €26,660 | €46,660 | €72,660 | €105,660 | €148,660 | ▲ 40.7% |
| Profit (loss) carried forward14 | €63,254 | €49,413 | €49,416 | €49,647 | €54,634 | €54,644 | €54,878 | €54,990 | ▲ 0.2% |
| Amounts payable17/49 | €24,604 | €15,896 | €13,996 | €25,575 | €19,637 | €28,488 | €16,334 | €27,028 | ▲ 65.5% |
| Amounts payable within one year42/48 | €24,604 | €15,896 | €13,996 | €25,575 | €19,637 | €13,488 | €16,334 | €27,028 | ▲ 65.5% |
| Trade debts44 | - | - | - | €15,057 | €163 | €173 | - | - | - |
| Suppliers440/4 | - | - | - | €15,057 | €163 | €173 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €9,030 | €1,041 | €2,517 | €11,587 | ▲ 360% |
| Taxes450/3 | - | - | - | - | €9,030 | €1,041 | €2,517 | €11,587 | ▲ 360% |
| Other amounts payable47/48 | - | - | - | €10,518 | €10,443 | €12,274 | €13,817 | €15,441 | ▲ 11.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €15,000 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €157 | -€13,841 | €18,663 | €8,230 | €24,988 | €26,010 | €33,234 | €43,112 | ▲ 29.7% |
| + Depreciation and write-downs630 | €18,006 | €18,006 | €10,681 | €11,010 | €1,843 | €513 | €328 | €590 | ▲ 79.9% |
| Operating cash flow (approximation) | €18,163 | €4,165 | €29,345 | €19,240 | €26,831 | €26,523 | €33,562 | €43,702 | ▲ 30.2% |
| Investment in fixed assets (approximation) | - | €0 | -€3,029 | €0 | €0 | -€1,641 | €0 | -€2,714 | - |
| Change in cash | - | -€4,454 | €22,836 | €27,205 | €30,757 | €33,322 | €20,804 | €51,262 | ▲ 146% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 16-06-2026 | 2026-00163450 |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00279616 |
| 31-12-2023 | micro format | 23-07-2024 | 2024-00272398 |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00294016 |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20200849 |
| 31-12-2020 | micro format | 23-06-2021 | 2021-22800197 |
| 31-12-2019 | micro format | 24-07-2020 | 2020-33100518 |
| 31-12-2018 | micro format | 12-07-2019 | 2019-31600544 |
| 31-12-2017 | micro format | 27-06-2018 | 2018-23000100 |
| 31-12-2016 | micro format | 13-06-2017 | 2017-17600547 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Etienne VAN DURME |
|
Owners and capital
Capital and shareholders
- 04-04-2023 Converted to unavailable equity · €14,255
- 04-04-2023 Converted to uncalled contributions · €6,150
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
04-04
Gazette deed
Appointment: Etienne VAN DURME (statutory director)Resignation: Etienne VAN DURME (manager) · Capital conversion · Reserve release10 facts ▸
- General meeting, 30-03-2023
- Other provision, “adaptation statuts CSA maintien SRL, adapter statuts,conserver SRL” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital conversion, “compte de capitaux propres apports non appelés” (deed in French)
- Reserve release, “compte de capitaux propres statutairement indisponible, suppression,rendre disponibles pour distribution” (deed in French)
- Amendment of the articles
- Director appointment, Etienne VAN DURME (statutory director) (2 times)
- Director resignation, Etienne VAN DURME (manager)
- Director discharge, Etienne VAN DURME
- Registered office clause, “1180 Bruxelles, avenue Jacques Pastur”, 49, “assemblée générale” (deed in French)
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21612D0491/00D012 | Brussels | 3.2 ha | 1 · 4,432 m² | 22.0 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L’exercice de la médecine,par le ou les actionnaires qui la compose(nt),lesquels sont exclusivement des médecins inscrits au Tableau de…” (deed in French)
3 activities (deed in French)
- L’exercice de la médecine,par le ou les actionnaires qui la compose(nt),lesquels sont exclusivement des médecins inscrits au Tableau de l’Ordre des Médecins
- Favoriser la pratique psychothérapeutique en organisant des activités de formation et de supervision et en nouant avec tous les organismes poursuivant les mêmes buts,les relations nécessaires à la réalisation de son objet
- La constitution,au départ de ses bénéfices réservés,la gestion et la valorisation d’un patrimoine immobilier,notamment par l’achat,la vente,la location,la mise en location,la construction,le tout au sens large
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PSYSTEM
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Transfert siège porté à connaissance Conseil provincial Ordre des Médecins, Région de Bruxelles-Capitale” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 11. Pouvoirs de l’organe d’administration Chaque administrateur peut accomplir tous les actes nécessaires ou utiles à…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Un ou plusieurs administrateurs, nombre,durée mandat et en cas de pluralité pouvoirs” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, médecins-actionnaires exerçant profession cadre société” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Cession entre vifs ou transmission pour cause de mort, modification dénomination et objet en y excluant toute activité médicale dans le…” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- “Courrier électronique,ou courrier ordinaire même jour si sans adresse, organe émission” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Prévues pour modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Quelque cause et quelque moment, désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments” (deed in French)