SHADVANCED TECHNOLOGIES
ActiveSummary
SHADVANCED TECHNOLOGIES has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €100,736 and a net result of €3,150. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 38% of 9046 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70=
Solvency59▼-41
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.5 against 60.89 in 2023; short-term debt: 66.5% and cash: 36.1% of total assets), and 66.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
33.5%
Return on assets
1%
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 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
36 d early
2022
31 d early
2021
16 d early
2020
26 d early
2019
14 d early
← 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 26 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€100,736▼ 66.1%
2023 · €297,586
Total assets
€300,649▼ 0.4%
2023 · €301,978
Net result
€3,150▼ 6.0%
2023 · €3,352
Working capital
€99,903▼ 62.0%
2023 · €263,018
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€13,700▲ 142%€490▼ 96.4%€5,089▲ 939%€6,908▲ 35.7%€6,298▼ 8.8%
Net result€11,767▲ 272%-€1,063€2,537€3,352▲ 32.1%€3,150▼ 6.0%
Equity€292,761▲ 4.2%€291,698▼ 0.4%€294,235▲ 0.9%€297,586▲ 1.1%€100,736▼ 66.1%
Total assets€294,908▲ 3.7%€297,006▲ 0.7%€296,471▼ 0.2%€301,978▲ 1.9%€300,649▼ 0.4%
Debt€2,147▼ 34.9%€5,308▲ 147%€2,236▼ 57.9%€4,391▲ 96.4%€199,913▲ 4,452%
Working capital€225,399▲ 11.4%€238,185▲ 5.7%€254,572▲ 6.9%€263,018▲ 3.3%€99,903▼ 62.0%
Staff (FTE)1.2▲ 20.0%1.2=1▼ 16.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 9% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €300,649
Fixed assets
€833 ▼ 97.6%
Current assets
€299,816 ▲ 12.1%
Equity and liabilities €300,649
Equity
€100,736 ▼ 66.1%
Debt
€199,913 ▲ 4,452%
Debt's share of the balance-sheet total rises from 1.5% to 66.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€40,033▲
2023 · €26,381
Cash flow
€36,885▲
2023 · €22,824
Current ratio
1.50▼
2023 · 60.89
Debt to equity
1.98▲
2023 · 0.01
ROE
3.1%▲
2023 · 1.1%
ROA
1.0%▼
2023 · 1.1%
Interest coverage
304.21▲
2023 · 85.27
Debt ≤ 1 year
€199,913▲
2023 · €4,391
Income taxes
€3,017▼
2023 · €3,247
Staff costs
€163▲
2023 · €92
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 10,891 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €41,793 | €22,788 | €92 | €163 | ▲ 77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,665 | €13,850 | €13,850 | €19,473 | €33,736 | ▲ 73.2% |
| Other operating charges640/8 | - | €502 | €401 | €870 | €457 | ▼ 47.5% |
| Gross operating margin9900 | €65,233 | €56,634 | €42,128 | €27,343 | €40,654 | ▲ 48.7% |
| Operating profit (loss)9901 | €13,700 | €490 | €5,089 | €6,908 | €6,298 | ▼ 8.8% |
| Financial income75/76B | - | €59 | - | - | - | - |
| Recurring financial income75 | €118 | €59 | - | - | - | - |
| Financial charges65/66B | - | €1,351 | €933 | €309 | €132 | ▼ 57.5% |
| Recurring financial charges65 | €1,752 | €1,351 | €933 | €309 | €132 | ▼ 57.5% |
| Profit (loss) for the period before taxes9903 | €12,066 | -€802 | €4,156 | €6,598 | €6,166 | ▼ 6.5% |
| Income taxes67/77 | €299 | €261 | €1,619 | €3,247 | €3,017 | ▼ 7.1% |
| Profit (loss) for the period9904 | €11,767 | -€1,063 | €2,537 | €3,352 | €3,150 | ▼ 6.0% |
| Profit (loss) for the period to be appropriated9905 | €11,767 | -€1,063 | €2,537 | €3,352 | €3,150 | ▼ 6.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €294,908 | €297,006 | €296,471 | €301,978 | €300,649 | ▼ 0.4% |
| Fixed assets21/28 | €67,362 | €53,513 | €39,663 | €34,569 | €833 | ▼ 97.6% |
| Intangible fixed assets21 | €63,418 | €50,735 | €38,051 | €25,367 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €3,944 | €2,778 | €1,612 | €9,201 | €833 | ▼ 90.9% |
| Furniture and vehicles24 | - | €2,778 | €1,612 | €9,201 | €833 | ▼ 90.9% |
| Current assets29/58 | €227,546 | €243,493 | €256,808 | €267,409 | €299,816 | ▲ 12.1% |
| Amounts receivable within one year40/41 | €76,180 | €4,769 | €1,373 | €90,862 | €187,174 | ▲ 106% |
| Trade receivables40 | - | - | - | €90,200 | €186,600 | ▲ 107% |
| Other amounts receivable41 | - | €4,769 | €1,373 | €662 | €574 | ▼ 13.3% |
| Cash at bank and in hand54/58 | €148,434 | €235,852 | €250,592 | €172,673 | €108,550 | ▼ 37.1% |
| Deferred charges and accrued income490/1 | - | €2,872 | €4,844 | €3,874 | €4,092 | ▲ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €294,908 | €297,006 | €296,471 | €301,978 | €300,649 | ▼ 0.4% |
| Equity10/15 | €292,761 | €291,698 | €294,235 | €297,586 | €100,736 | ▼ 66.1% |
| Contributions10/11 | €300,000 | €300,000 | €300,000 | €300,000 | €100,000 | ▼ 66.7% |
| Capital10 | - | €300,000 | €300,000 | €300,000 | €100,000 | ▼ 66.7% |
| Issued capital100 | - | €300,000 | €300,000 | €300,000 | €100,000 | ▼ 66.7% |
| Reserves13 | - | - | - | - | €37 | - |
| Non-distributable reserves130/1 | - | - | - | - | €37 | - |
| Legal reserve130 | - | - | - | - | €37 | - |
| Profit (loss) carried forward14 | -€7,239 | -€8,302 | -€5,765 | -€2,414 | €699 | ▲ 129% |
| Amounts payable17/49 | €2,147 | €5,308 | €2,236 | €4,391 | €199,913 | ▲ 4,452% |
| Amounts payable within one year42/48 | €2,147 | €5,308 | €2,236 | €4,391 | €199,913 | ▲ 4,452% |
| Trade debts44 | €1,472 | €5,008 | €1,507 | €2,749 | €2,720 | ▼ 1.1% |
| Suppliers440/4 | - | €5,008 | €1,507 | €2,749 | €2,720 | ▼ 1.1% |
| Taxes, remuneration and social security45 | - | €300 | €729 | €1,642 | €2,263 | ▲ 37.8% |
| Taxes450/3 | - | €299 | €119 | €1,366 | €2,263 | ▲ 65.7% |
| Remuneration and social security454/9 | - | €2 | €610 | €277 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | - | €194,930 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,767 | -€1,063 | €2,537 | €3,352 | €3,150 | ▼ 6.0% |
| + Depreciation and write-downs630 | €13,665 | €13,850 | €13,850 | €19,473 | €33,736 | ▲ 73.2% |
| Operating cash flow (approximation) | €25,432 | €12,786 | €16,387 | €22,824 | €36,885 | ▲ 61.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€14,379 | €0 | ▲ 100% |
| Change in cash | - | €87,418 | €14,740 | -€77,919 | -€64,123 | ▲ 17.7% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €2,537
Net result €2,537 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 114.85
Current ratio from 45.87 to 114.85; short-term debt falls from €5,308 to €2,236.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€1,063
Net result drops to -€1,063, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €11,767 ▲272%
Operating result €13,700, net result €11,767, both a record.
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
25-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Antwerpen · 1 establishment unit since 2011
Ground area
716 m²
Building footprint
308 m²
Volume, LiDAR
5,616 m³
Parcel 11810K1887/00P002, Flanders · tallest building 21.9 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
SHADVANCED TECHNOLOGIES
since 20112.201.414.010
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K1887/00P002 | Flanders | 716 m² | 1 · 308 m² | 21.9 m · 7 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 6,147 companies in sector 46190 we hold annual accounts for 2,570. 1,965 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded28-06-2011
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0837557782
Also
9925:BE0837557782
Registered
05-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.