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S.M. SYSTEMS

Active
Private limited company (pre-2019)founded 20187 yrs activeRue Clément Brédas(LEV) 39, 7134 Binche, BelgiumKBO/BCE: BE 0716.940.064
Summary

The computed 12-month bankruptcy probability of S.M. SYSTEMS is 6.6% (elevated). The 2024 annual accounts show equity of €4,538 and a net result of -€3,546. Equity is shrinking by ~39.4% per year across the filed fiscal years. Its solvency ranks better than 22% of 36364 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
S.M. SYSTEMSActiveChecked score 33/100
Risk analysis ReportCompare

Overview

Activity
General electrical installation work
NACE 43211Electrical installation work in industrial facilities NACE 43212
1 site
Size
€29,319turnover 2024
Equity
€4,538
Loss
-€3,546
Financial health
33 Weak Checked score 2024
Bankruptcy chance 12 m
6.6%
Structure
Accounts 65 d overdue0 of 2 deeds read
Why 33- 1 financial year not filed after the legal deadline; latest accounts 104 days late; 2 of the last 3 late- Figures for FY 2024 (filed 12-11-2025)- Founded in 2018+ Size: turnover €29,319, total assets €22,308Show the evidence

Checked score

Score 2024
33 / 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 9% of its sector peers (NACE 43, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Weak
Solvency 45+4
equity 20.3% of total assets
Liquidity 7-15
short-term debt 79.7% · cash 0.5%
Profitability 0-7
return on assets -15.9%
Bankruptcy probability, 12 months
6.6% Elevated
0%0.5%1.5%4%10%≥ 25%

About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,133 companies)
Last 24 months 11-2024: 3.7% 12-2024: 3.8%▲ +3.1% vs 11-2024 01-2025: 3.8%▲ +1.8% vs 12-2024 02-2025: 3.8%● 0.0% vs 01-2025 03-2025: 3.8%▲ +0.4% vs 02-2025 04-2025: 3.5%▼ -8.9% vs 03-2025 05-2025: 3.5%▼ -1.0% vs 04-2025 06-2025: 3.2%▼ -6.7% vs 05-2025 07-2025: 3.2%▼ -0.4% vs 06-2025lowest value 08-2025: 3.7%▲ +14.5% vs 07-2025 09-2025: 3.8%▲ +3.7% vs 08-2025 10-2025: 5.1%▲ +34.5% vs 09-2025 11-2025: 5.2%▲ +1.2% vs 10-2025 12-2025: 4.5%▼ -13.9% vs 11-2025 01-2026: 4.6%▲ +1.7% vs 12-2025 02-2026: 4.6%● 0.0% vs 01-2026 03-2026: 4.6%▲ +0.5% vs 02-2026 04-2026: 4.7%▲ +2.1% vs 03-2026 05-2026: 4.6%▼ -1.4% vs 04-2026 06-2026: 4.3%▼ -6.9% vs 05-2026 07-2026: 4.3%▼ -0.9% vs 06-2026 08-2026: 4.7%▲ +9.9% vs 07-2026 09-2026: 4.8%▲ +2.7% vs 08-2026 10-2026: 6.6%▲ +36.6% vs 09-2026highest value
  • 1 financial year not filed after the legal deadline; latest accounts 104 days late; 2 of the last 3 late raises the probability
  • Figures for FY 2024 (filed 12-11-2025) raises the probability
  • Founded in 2018 raises the probability for this profile
  • Size: turnover €29,319, total assets €22,308 lowers the probability for this profile
No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.26 against 1.69 in 2023; short-term debt: 79.7% and cash: 0.5% of total assets), and 79.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 43, micro). Better than this share of them on solvency 22%, liquidity 5%, profitability 4%, growth against the median 6%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · 1 financial year not filed after the legal deadline; latest accounts 104 days late; 2 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Figures for FY 2024 (filed 12-11-2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Founded in 2018
In the bankruptcy model this factor raises the probability for this profile.
KBO
lowers risk · Size: turnover €29,319, total assets €22,308
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024
Net result per financial year
192021222324
2019 to 2024 · latest year -€3,546
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 36364 sector peers (2024).
NBB · sector comparison
Position among 36364 sector peers
Solvency
better than 22%
← weakest strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-11-2025, 104 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filings
Deviation from the deadline
2025
not confirmed
2024
104 d late
2023
29 d late
2022
150 d late
2021
142 d late
2020
137 d late
2019
132 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 116 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2024 · micro…
  2. Annual accounts filedfiscal year 2023 · micro…
  3. Annual accounts filedfiscal year 2022 · micro…

Key points

  • Risk: 3 loss-making years in a rowloss fiscal year 2024 -€3,546 View
  • Caution: Turnover fell in 2024from €155,262 to €29,319 ▼ 81.1% View
  • Caution: Among the weakest 13% on equitysector median €58,010 · 36,381 companies €4,538 View
  • Caution: Accounts not fileddeadline was 31-07-2026 65 d late View

By topic

Financials

Fiscal year
2024
Turnover
€29,319
Loss
-€3,546
Solvency
20.3%
Turnover▼ 81.1%
Net result
20192024
Go to Financials

Timeline

Events
8
Since
2020
  1. 12-11-2025Annual accounts filed
  2. 29-08-2024Annual accounts filed
  3. 28-12-2023Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company (pre-2019)
Activity
General electrical installation workNACE 43211
Founded
28-12-2018
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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