Checked.be
Active
BE 0475.215.173Private limited company
SHS COMPUTER
Chaussée Freddy Terwagne(Herm) 2a ·4480 Engis, Belgium· 25 yrs active
Sector: Retail sale of information and communication equipment
(47400)
Conclusion
SHS COMPUTER has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.84M and a net result of €561k. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 72% of 6653 sector peers (fiscal year 2023). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €3.84M |
| Net result | €561k |
| Staff (FTE) | 13.7 |
| Better than sector | 72% |
Financial profile
86
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
98
Profitability
51
Solvency
97
Growth
85
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2001, 25 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
98
/ 100
Excellent
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€380k
estimate, not credit advice
Score history
81
2021
76
2022
89
2023
98
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.54 (≥ 1.5)
+10
Leverage
Debt/equity 0.80 (< 1.0)
+10
Profitability
ROE 15% (≥ 10%)
+10
EBITDA margin
EBITDA-marge 7%
+2
Interest coverage
Interest coverage 14.9× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 01-10-2025 with the NBB · fiscal year 2024 · unclassified schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~8.2%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2023 · NACE 47, Retail trade · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 52.4% | 32.0% | |
| Net result | €213k | €32k | |
| Equity | €3.28M | €281k | |
| Gross operating margin | €1.31M | €245k | |
| Staff costs | €598k | €223k |
€14.87M
+44.9%
21-24
€1.03M
+61.5%
21-24
€561k
+163.1%
21-24
€699k
+86.4%
21-24
€7.09M
+13.1%
21-24
€3.84M
+16.9%
21-24
€3.90M
+16.1%
21-24
14
+20.2%
21-24
€634k
+6.1%
21-24
€225k
+23.5%
21-24
€3.07M
+8.2%
21-24
€2.53M
+24.0%
21-24
€538k
-32.5%
21-24
2.54
-4.0%
21-24
0.97
+7.8%
21-24
54.1%
+3.3%
21-24
0.80
-7.5%
21-24
14.6%
+125.0%
21-24
7.9%
+132.5%
21-24
3.8%
+129.3%
21-24
6.9%
+59.9%
21-24
14.91
+113.3%
21-24
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|
| Deposit | unclassified schema | full schema | unclassified schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | +61.5% | +43.5% | -53.6% | - |
| Net profit | +163.1% | +26.2% | -68.4% | - |
| Cash flow | +86.4% | +22.0% | -51.9% | - |
| Staff costs | +6.1% | -0.5% | -1.8% | - |
| Income taxes | +23.5% | +214.1% | -69.0% | - |
| Dividends | - | - | - | - |
| Total assets | +13.1% | -3.6% | -18.5% | - |
| Equity | +16.9% | +6.8% | +5.6% | - |
| Debt | +8.2% | -13.4% | -33.7% | - |
| of which ≤ 1y | +24.0% | -20.2% | -37.7% | - |
| of which > 1y | -32.5% | +10.6% | -14.2% | - |
| Working capital | +16.1% | +9.2% | +2.8% | - |
| Employees (FTE) | +20.2% | -18.0% | +3.0% | - |
Note: these years are not on the same basis. The filed schemas differ (unclassified schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 2.54 | 2.64 | 2.20 | 1.73 |
| Quick ratio | 0.97 | 0.90 | 0.73 | 0.70 |
| Working capital ratio | 55.0% | 53.6% | 47.4% | 37.5% |
| Solvency | 54.1% | 52.4% | 47.3% | 36.5% |
| Debt / equity | 0.80 | 0.87 | 1.07 | 1.70 |
| Long-term debt ratio | 0.14 | 0.24 | 0.23 | 0.29 |
| Interest coverage | 14.91 | 6.99 | 8.22 | 6.50 |
| Gross margin | 17.8% | - | 16.2% | - |
| Net margin | 3.8% | - | 1.6% | - |
| ROA | 7.9% | 3.4% | 2.6% | 6.7% |
| ROE | 14.6% | 6.5% | 5.5% | 18.4% |
| EBITDA margin | 6.9% | - | 4.3% | - |
| Days sales outstanding | 23d | - | 46d | - |
| Days payable outstanding | 4d | - | 25d | - |
| Inventory turnover | 3.07 | - | 2.28 | - |
| Days inventory (DSI) | 119d | - | 160d | - |
Balance-sheet composition 2024
Full annual accounts (28 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €7.09M | €6.26M | €6.49M | €7.97M |
| Fixed assets | 21/28 | €656k | €864k | €861k | €869k |
| Formation expenses | 20 | €0 | €0 | - | - |
| Intangible fixed assets | 21 | €153k | €112k | €29k | €32k |
| Tangible fixed assets | 22/27 | €503k | €752k | €832k | €838k |
| Current assets | 29/58 | €6.43M | €5.40M | €5.63M | €7.10M |
| Stocks & contracts in progress | 3 | €3.98M | €3.57M | €3.78M | €4.23M |
| Amounts receivable within one year | 40/41 | €1.46M | €1.52M | €1.56M | €2.42M |
| Cash & bank | 54/58 | €994k | €290k | €274k | €422k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €7.09M | €6.26M | €6.49M | €7.97M |
| Equity | 10/15 | €3.84M | €3.28M | €3.07M | €2.91M |
| Contributions / capital | 10/11 | €475k | €475k | €475k | €475k |
| Reserves | 13 | €812k | €812k | €812k | €812k |
| Accumulated profits (losses) | 14 | €2.54M | €1.98M | €1.77M | €1.60M |
| Provisions & deferred taxes | 16 | €178k | €142k | €142k | €109k |
| Amounts payable | 17/49 | €3.07M | €2.84M | €3.28M | €4.95M |
| Amounts payable after one year | 17 | €538k | €797k | €721k | €840k |
| Amounts payable within one year | 42/48 | €2.53M | €2.04M | €2.56M | €4.11M |
| Trade debts payable within one year | 44 | €127k | €157k | €586k | €991k |
| Income statement | |||||
| Turnover | 70 | €14.87M | - | €10.27M | - |
| Gross operating margin | 9900 | - | €1.31M | - | €1.62M |
| Operating result | 9901 | €892k | €476k | €306k | €853k |
| Financial income | 75 | €34k | €11k | €24k | €16k |
| Financial charges | 65 | €140k | €91k | €103k | €147k |
| Result before taxes | 9903 | €786k | €395k | €227k | €722k |
| Income taxes | 67/77 | €225k | €182k | €58k | €187k |
| Net result for the period | 9904 | €561k | €213k | €169k | €535k |
| Result to be appropriated | 9905 | €561k | €213k | €169k | €535k |
Legal Structure
| NACE primary | Retail sale of information and communication equipment(47400) |
| Legal form | Private limited company(610) |
| Incorporation | 30-07-2001 |
| Status | Active |
| Postal code | 4480 |
Establishment units
SHS Computer
since 20012.131.699.417
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61027B0120/00M000 | Wallonia | 566 m² | 1 · 28 m² | 4.7 m · 1 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema · 62 days late
20-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 204 days late
2024
31-12
Financial
Highest result since 2021net €561k ▲163%
Operating result €892k, net result €561k, both a record.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 92 days late
2022
31-12
Financial
Weakest financial yearnet €169k ▼68.4%
Net result drops to €169k, the lowest in the series; recovery starts the following year.
24-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 85 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 71 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 17 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Retail sale of information and communication equipment47400Retail trade4741052487Wholesale of information and communication equipment46500Wholesale trade466605185072500Repair and maintenance of computers and communication equipment95100Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles95110
Names & trade names
| Legal nameFR | SHS COMPUTER |
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