QSD
ActiveSummary
QSD has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €178,068 and a net result of €42,303. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 88% of 17179 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+12
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity ample (current ratio 9.68 against 19.65 in 2024; short-term debt: 10.1% and cash: 63% of total assets), and 10.1% of the assets are financed with debt.
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Signals
Four 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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% 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 2025Solvency, return and age of the figures
Solvency
89.9%
Return on assets
21.3%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 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.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
18 d late
2023
43 d early
2022
62 d early
2021
45 d early
2020
25 d early
2019
8 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 23 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€178,068▼ 27.8%
2024 · €246,545
Total assets
€198,145▼ 23.4%
2024 · €258,734
Net result
€42,303▲ 42.8%
2024 · €29,633
Working capital
€174,179▼ 23.4%
2024 · €227,378
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€17,315▼ 70.5%€23,513▲ 35.8%€41,583▲ 76.9%€44,487▲ 7.0%€59,649▲ 34.1%
Net result€10,016▼ 75.1%€14,380▲ 43.6%€27,222▲ 89.3%€29,633▲ 8.9%€42,303▲ 42.8%
Equity€175,310▲ 6.1%€189,690▲ 8.2%€216,912▲ 14.4%€246,545▲ 13.7%€178,068▼ 27.8%
Total assets€232,708▼ 6.7%€243,774▲ 4.8%€257,395▲ 5.6%€258,734▲ 0.5%€198,145▼ 23.4%
Debt€57,398▼ 31.9%€54,083▼ 5.8%€40,483▼ 25.1%€12,189▼ 69.9%€20,078▲ 64.7%
Working capital€159,418▲ 12.1%€173,791▲ 9.0%€204,711▲ 17.8%€227,378▲ 11.1%€174,179▼ 23.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 34% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €198,145
Fixed assets
€3,889 ▼ 79.7%
Current assets
€194,256 ▼ 18.9%
Equity and liabilities €198,145
Equity
€178,068 ▼ 27.8%
Debt
€20,078 ▲ 64.7%
Debt's share of the balance-sheet total rises from 4.7% to 10.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€72,521▲
2024 · €62,452
Cash flow
€55,175▲
2024 · €47,598
Current ratio
9.68▼
2024 · 19.65
Debt to equity
0.11▲
2024 · 0.05
ROE
23.8%▲
2024 · 12.0%
ROA
21.3%▲
2024 · 11.5%
Interest coverage
118.63▲
2024 · 78.59
Debt ≤ 1 year
€20,078▲
2024 · €12,189
Income taxes
€17,550▲
2024 · €14,436
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 | €8,145 | - | - | - | €7,693 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,550 | €7,917 | €8,173 | €17,965 | €12,871 | ▼ 28.4% |
| Other operating charges640/8 | €1,106 | €1,220 | €692 | €1,306 | €1,117 | ▼ 14.5% |
| Gross operating margin9900 | €25,970 | €32,650 | €50,448 | €63,758 | €73,638 | ▲ 15.5% |
| Operating profit (loss)9901 | €17,315 | €23,513 | €41,583 | €44,487 | €59,649 | ▲ 34.1% |
| Financial income75/76B | - | €1 | €30 | €378 | €815 | ▲ 116% |
| Recurring financial income75 | - | €1 | €30 | €378 | €815 | ▲ 116% |
| Financial charges65/66B | €2,397 | €2,001 | €1,557 | €795 | €611 | ▼ 23.1% |
| Recurring financial charges65 | €2,397 | €2,001 | €1,557 | €795 | €611 | ▼ 23.1% |
| Profit (loss) for the period before taxes9903 | €14,918 | €21,513 | €40,056 | €44,069 | €59,853 | ▲ 35.8% |
| Income taxes67/77 | €4,902 | €7,133 | €12,835 | €14,436 | €17,550 | ▲ 21.6% |
| Profit (loss) for the period9904 | €10,016 | €14,380 | €27,222 | €29,633 | €42,303 | ▲ 42.8% |
| Profit (loss) for the period to be appropriated9905 | €10,016 | €14,380 | €27,222 | €29,633 | €42,303 | ▲ 42.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €232,708 | €243,774 | €257,395 | €258,734 | €198,145 | ▼ 23.4% |
| Fixed assets21/28 | €15,892 | €15,899 | €12,201 | €19,167 | €3,889 | ▼ 79.7% |
| Tangible fixed assets22/27 | €15,892 | €15,899 | €12,201 | €19,167 | €3,889 | ▼ 79.7% |
| Land and buildings22 | €11,533 | €6,856 | €2,877 | - | €0 | - |
| Plant, machinery and equipment23 | €385 | €307 | €1,096 | €584 | €1,441 | ▲ 147% |
| Furniture and vehicles24 | €3,973 | €8,736 | €8,229 | €18,583 | €2,448 | ▼ 86.8% |
| Current assets29/58 | €216,816 | €227,874 | €245,194 | €239,567 | €194,256 | ▼ 18.9% |
| Amounts receivable within one year40/41 | €21,610 | €15,384 | €117,333 | €114,050 | €65,538 | ▼ 42.5% |
| Trade receivables40 | €19,511 | €15,384 | €17,333 | €18,423 | €19,910 | ▲ 8.1% |
| Other amounts receivable41 | €2,098 | - | €100,000 | €95,627 | €45,627 | ▼ 52.3% |
| Cash at bank and in hand54/58 | €195,206 | €212,491 | €126,723 | €125,517 | €124,874 | ▼ 0.5% |
| Deferred charges and accrued income490/1 | - | - | €1,138 | - | €3,844 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €232,708 | €243,774 | €257,395 | €258,734 | €198,145 | ▼ 23.4% |
| Equity10/15 | €175,310 | €189,690 | €216,912 | €246,545 | €178,068 | ▼ 27.8% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €162,910 | €177,290 | €204,512 | €234,145 | €165,668 | ▼ 29.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €161,050 | €175,430 | €202,652 | €232,285 | €163,808 | ▼ 29.5% |
| Amounts payable17/49 | €57,398 | €54,083 | €40,483 | €12,189 | €20,078 | ▲ 64.7% |
| Amounts payable within one year42/48 | €57,398 | €54,083 | €40,483 | €12,189 | €20,078 | ▲ 64.7% |
| Trade debts44 | €1,139 | €1,487 | €3,259 | €1,954 | €1,973 | ▲ 1.0% |
| Suppliers440/4 | €1,139 | €1,487 | €3,259 | €1,954 | €1,973 | ▲ 1.0% |
| Taxes, remuneration and social security45 | €49,074 | €44,412 | €30,873 | €10,235 | €14,410 | ▲ 40.8% |
| Taxes450/3 | €15,748 | €10,934 | €13,908 | €7,820 | €14,410 | ▲ 84.3% |
| Remuneration and social security454/9 | €33,327 | €33,478 | €16,965 | €2,415 | - | - |
| Other amounts payable47/48 | €7,185 | €8,184 | €6,350 | - | €3,695 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,016 | €14,380 | €27,222 | €29,633 | €42,303 | ▲ 42.8% |
| + Depreciation and write-downs630 | €7,550 | €7,917 | €8,173 | €17,965 | €12,871 | ▼ 28.4% |
| Operating cash flow (approximation) | €17,566 | €22,298 | €35,395 | €47,598 | €55,175 | ▲ 15.9% |
| Investment in fixed assets (approximation) | - | -€7,924 | -€4,475 | -€24,931 | €2,407 | ▲ 110% |
| Change in cash | - | €17,284 | -€85,768 | -€1,206 | -€643 | ▲ 46.7% |
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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 6 days late
2025
31-12
Financial
Highest result since 2018net €42,303 ▲42.8%
Operating result €59,649, net result €42,303, both a record.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 19.65
Current ratio from 6.06 to 19.65; short-term debt falls from €40,483 to €12,189.
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200,000Eq €216,912 ▲14.4%
6 profitable years in a row build equity to €216,912.
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €10,016 ▼75.1%
Net result drops to €10,016, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €165,294 ▲23.1%
3 profitable years in a row build equity to €165,294.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Heusden-Zolder · 1 establishment unit since 2010
Ground area
758 m²
Building footprint
166 m²
Volume, LiDAR
830 m³
Parcel 71065F0209/00C000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Jan Frans Willemslaan 30, 3550 Heusden-Zolder
since 20102.186.607.355
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71065F0209/00C000 | Flanders | 758 m² | 1 · 166 m² | 8.6 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 16,910 companies in sector 62100 we hold annual accounts for 8,778. 6,769 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
Founded22-03-2010
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
E-invoicing
Reachable via Peppol
Peppol ID
0208:0824186927
Also
9925:BE0824186927
Registered
24-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.