QUANTUM SYSTEMS
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 28-10-2026 at the NBB all 29 filings
Turnover
≈ €200,000
Estimated: probably between €110,000 and €380,000
Total assets
€92,969▲ 49.1%
2025 · €62,362
Net result
€631
2025 · -€7,552
Working capital
€32,412▼ 2.4%
2025 · €33,218
Multi-year overview
2018 to 2026, 8 financial yearsOperating result
€1,836
2026
20182026
Net result
€631
2026
20182026
Equity
€34,896
▲ 1.8%
2026
20182026
Total assets
€92,969
▲ 49.1%
2026
20182026
Debt
€58,074
▲ 107%
2026
20182026
Working capital
€32,412
▼ 2.4%
2026
20182026
Solvency
37.5%
▼ 17.4pp
2026
20182026
Current ratio
1.56
▼ 0.62
2026
20182026
Return on assets (ROA)
0.7%
▲ 12.8pp
2026
20182026
Staff (FTE)
1
=
2026
20182026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182020202120222023202420252026
Operating result-€2,411--€2,913-€11,754€10,135▼ 13.8%€7,003▼ 30.9%€2,754▼ 60.7%-€6,574€1,836
Net result€516--€4,467-€8,954within the sector's middle half€7,013within the sector's middle half▼ 21.7%€4,373within the sector's middle half▼ 37.6%€642within the sector's middle half▼ 85.3%-€7,552below the sector's middle half€631
Equity€25,301-€20,835-€29,789within the sector's middle half▲ 43.0%€36,802within the sector's middle half▲ 23.5%€41,174within the sector's middle half▲ 11.9%€41,816within the sector's middle half▲ 1.6%€34,265within the sector's middle half▼ 18.1%€34,896▲ 1.8%
Total assets€217,644-€57,314-€78,983within the sector's middle half▲ 37.8%€79,750within the sector's middle half▲ 1.0%€85,956within the sector's middle half▲ 7.8%€103,614within the sector's middle half▲ 20.5%€62,362below the sector's middle half▼ 39.8%€92,969▲ 49.1%
Debt€192,343-€36,480-€49,194▲ 34.9%€42,949▼ 12.7%€44,782▲ 4.3%€61,797▲ 38.0%€28,097▼ 54.5%€58,074▲ 107%
Working capital€60,909-€10,957-€24,202within the sector's middle half▲ 121%€33,116within the sector's middle half▲ 36.8%€39,345within the sector's middle half▲ 18.8%€40,478within the sector's middle half▲ 2.9%€33,218within the sector's middle half▼ 17.9%€32,412▼ 2.4%
Solvency11.6%-36.4%-37.7%within the sector's middle half▲ 1.4pp46.1%within the sector's middle half▲ 8.4pp47.9%within the sector's middle half▲ 1.8pp40.4%within the sector's middle half▼ 7.5pp54.9%within the sector's middle half▲ 14.6pp37.5%▼ 17.4pp
Current ratio1.41-1.30-1.49within the sector's middle half▲ 0.191.77within the sector's middle half▲ 0.281.88within the sector's middle half▲ 0.111.66within the sector's middle half▼ 0.222.18within the sector's middle half▲ 0.531.56▼ 0.62
Return on assets (ROA)0.2%--7.8%-11.3%within the sector's middle half▲ 19.1pp8.8%within the sector's middle half▼ 2.5pp5.1%within the sector's middle half▼ 3.7pp0.6%within the sector's middle half▼ 4.5pp-12.1%below the sector's middle half▼ 12.7pp0.7%▲ 12.8pp
Staff (FTE)0.6-0.6-0.6=1▲ 66.7%1=1=1=1=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a profit of €1,836, after a loss of €6,574 in 2025.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €92,969
Fixed assets
€2,484 ▲ 137%
Current assets
€90,485 ▲ 47.6%
Equity and liabilities €92,969
Equity
€34,896 ▲ 1.8%
Debt
€58,074 ▲ 107%
Debt's share of the balance-sheet total rises from 45.1% to 62.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2,097▲
2025 · -€6,282
Cash flow
€892▲
2025 · -€7,260
Quick ratio
1.55▼
2025 · 2.16
Debt to equity
1.66▲
2025 · 0.82
ROE
1.8%▲
2025 · -22.0%
Interest coverage
2.33▲
2025 · -6.90
Debt ≤ 1 year
€58,074▲
2025 · €28,097
Income taxes
€307▲
2025 · €67
Staff costs
€27,225▼
2025 · €27,243
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 |
| Average over the year, in full-time equivalents | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,305 | - | - | - | €1,698 |
| Depreciation and write-downs of the year | €3,205 | €1,856 | €491 | €292 | €261 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €4,973 | - |
| Remuneration, social security and pensions62 | - | - | - | €22,234 | €25,511 | €27,409 | €27,243 | €27,225 | ▼ 0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,976 | €4,169 | €4,291 | €3,205 | €1,856 | €491 | €292 | €261 | ▼ 10.5% |
| Other operating charges640/8 | - | - | - | €1,346 | €1,438 | €1,609 | €1,553 | €1,548 | ▼ 0.3% |
| Gross operating margin9900 | €22,038 | €27,512 | €39,212 | €36,920 | €35,809 | €32,264 | €22,514 | €30,871 | ▲ 37.1% |
| Operating profit (loss)9901 | -€2,411 | -€2,913 | €11,754 | €10,135 | €7,003 | €2,754 | -€6,574 | €1,836 | - |
| Financial income75/76B | - | - | - | €72 | €54 | - | - | - | - |
| Recurring financial income75 | €3,669 | - | €1,217 | €72 | €54 | - | - | - | - |
| Financial charges65/66B | - | - | - | €275 | €428 | €423 | €910 | €898 | ▼ 1.3% |
| Recurring financial charges65 | €743 | €638 | €624 | €275 | €428 | €423 | €910 | €898 | ▼ 1.3% |
| Profit (loss) for the period before taxes9903 | €516 | -€3,551 | €12,347 | €9,932 | €6,629 | €2,331 | -€7,484 | €938 | - |
| Income taxes67/77 | - | €916 | €3,393 | €2,920 | €2,256 | €1,689 | €67 | €307 | ▲ 356% |
| Profit (loss) for the period9904 | €516 | -€4,467 | €8,954 | €7,013 | €4,373 | €642 | -€7,552 | €631 | - |
| Profit (loss) for the period to be appropriated9905 | €516 | -€4,467 | €8,954 | €7,013 | €4,373 | €642 | -€7,552 | €631 | - |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €217,644 | €57,314 | €78,983 | €79,750 | €85,956 | €103,614 | €62,362 | €92,969 | ▲ 49.1% |
| Fixed assets21/28 | €6,494 | €9,877 | €5,586 | €3,686 | €1,830 | €1,338 | €1,047 | €2,484 | ▲ 137% |
| Tangible fixed assets22/27 | €5,924 | €9,307 | €5,016 | €3,116 | €1,259 | €768 | €476 | €1,914 | ▲ 302% |
| Plant, machinery and equipment23 | - | - | - | €2,039 | €1,259 | €768 | €476 | €1,914 | ▲ 302% |
| Furniture and vehicles24 | - | - | - | €1,077 | - | - | - | - | - |
| Financial fixed assets28 | €570 | €570 | €570 | €570 | €570 | €570 | €570 | €570 | = |
| Current assets29/58 | €211,150 | €47,437 | €73,396 | €76,064 | €84,126 | €102,275 | €61,315 | €90,485 | ▲ 47.6% |
| Stocks and contracts in progress3 | €7,150 | €6,482 | €2,104 | €965 | €613 | €647 | €732 | €728 | ▼ 0.5% |
| Stocks30/36 | - | - | - | €965 | €613 | €647 | €732 | €728 | ▼ 0.5% |
| Amounts receivable within one year40/41 | €165,051 | €39,452 | €54,141 | €48,940 | €41,412 | €30,732 | €29,486 | €63,911 | ▲ 117% |
| Trade receivables40 | - | - | - | €48,940 | €40,712 | €30,732 | €28,573 | €63,911 | ▲ 124% |
| Other amounts receivable41 | - | - | - | - | €700 | - | €913 | - | - |
| Cash at bank and in hand54/58 | €6,299 | €1,503 | €17,151 | €26,159 | €42,102 | €70,897 | €31,097 | €25,745 | ▼ 17.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €101 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €217,644 | €57,314 | €78,983 | €79,750 | €85,956 | €103,614 | €62,362 | €92,969 | ▲ 49.1% |
| Equity10/15 | €25,301 | €20,835 | €29,789 | €36,802 | €41,174 | €41,816 | €34,265 | €34,896 | ▲ 1.8% |
| Contributions10/11 | €18,592 | €20,451 | - | €20,451 | €20,451 | €20,451 | €20,451 | €20,451 | = |
| Reserves13 | €11,318 | €9,459 | €9,459 | €9,459 | €9,459 | €9,459 | €9,459 | €9,459 | = |
| Distributable reserves133 | - | - | - | €9,459 | €9,459 | €9,459 | €9,459 | €9,459 | = |
| Profit (loss) carried forward14 | -€4,609 | -€9,075 | -€121 | €6,892 | €11,265 | €11,906 | €4,355 | €4,986 | ▲ 14.5% |
| Amounts payable17/49 | €192,343 | €36,480 | €49,194 | €42,949 | €44,782 | €61,797 | €28,097 | €58,074 | ▲ 107% |
| Amounts payable within one year42/48 | €150,241 | €36,480 | €49,194 | €42,949 | €44,782 | €61,797 | €28,097 | €58,074 | ▲ 107% |
| Trade debts44 | €107,635 | €24,243 | €21,419 | €19,669 | €21,282 | €44,131 | €16,705 | €42,270 | ▲ 153% |
| Suppliers440/4 | - | - | - | €19,669 | €21,282 | €44,131 | €16,705 | €42,270 | ▲ 153% |
| Taxes, remuneration and social security45 | - | - | - | €16,779 | €18,448 | €15,190 | €11,392 | €15,433 | ▲ 35.5% |
| Taxes450/3 | - | - | - | €14,001 | €15,510 | €12,003 | €8,140 | €12,076 | ▲ 48.4% |
| Remuneration and social security454/9 | - | - | - | €2,778 | €2,938 | €3,188 | €3,252 | €3,357 | ▲ 3.2% |
| Other amounts payable47/48 | - | - | - | €6,501 | €5,051 | €2,476 | - | €371 | - |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €516 | -€4,467 | €8,954 | €7,013 | €4,373 | €642 | -€7,552 | €631 | - |
| + Depreciation and write-downs630 | €2,976 | €4,169 | €4,291 | €3,205 | €1,856 | €491 | €292 | €261 | ▼ 10.5% |
| Operating cash flow (approximation) | €3,491 | -€298 | €13,245 | €10,218 | €6,229 | €1,133 | -€7,260 | €892 | - |
| Investment in fixed assets (approximation) | - | - | €0 | -€1,305 | €0 | €0 | €0 | -€1,698 | - |
| Change in cash | - | - | €15,649 | €9,008 | €15,943 | €28,795 | -€39,800 | -€5,352 | ▲ 86.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as QUANTUM SYSTEMS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of QUANTUM SYSTEMS itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 17,041 companies, not a prediction for QUANTUM 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.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 28-10-2026 | 2026-00570589 | |
| 31-03-2025 | micro format | 28-10-2025 | 2025-00550693 | |
| 31-03-2024 | micro format | 24-10-2024 | 2024-00513339 | |
| 31-03-2023 | micro format | 18-10-2023 | 2023-00487759 | |
| 31-03-2022 | micro format | 08-09-2022 | 2022-20422768 | |
| 31-03-2021 | micro format | 27-09-2021 | 2021-68400523 | |
| 31-03-2020 | micro format | 27-11-2020 | 2020-72300502 | |
| 31-12-2018 | micro format | 10-07-2019 | 2019-31300141 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-26800177 | |
| 31-12-2016 | micro format | 15-06-2017 | 2017-17800533 |