Equity
Equity fell by 47% in 5 years.
Equity fell by 47% in 5 years.
Green is investment, beige is depreciation.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 27% of them on solvency, 16% on liquidity, 37% on profitability and 44% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 3,274 companies had the same profile as SIMTECH has now. Each dot stands for 9 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SIMTECH itself: 2.4% within 12 months.
The method was tested on the 497,447 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 3,274 companies, not a prediction for SIMTECH. 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.
Liquidity is tight, with a current ratio of 1.32 (1.37 in 2024), below the usual 1.5. Short-term debt is 74.5% and cash 13.5% of total assets. 74.5% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 90 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SIMTECH Sint-Gillis (bij-Brussel) | €115,022 | €35,380 | 25.5% | - |
| FRANCKE SERVICES Dilbeek | €109,556 | €36,936 | 82.4% | - |
| YD Construct Herent | €112,547 | €35,489 | 52.5% | - |
| WONINGVENTILATIE THEUNISSEN Pelt | €110,306 | €31,372 | 42.6% | - |
| Pieter De Ryck Temse | €118,255 | €43,160 | 74.5% | - |
| TRAMMER Zemst | €105,139 | €39,801 | 44.0% | - |
| Climaeys Waasmunster | €127,801 | €42,079 | 29.2% | - |
These companies have the same main activity as SIMTECH: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €105,000 and €128,000, founded between 2017 and 2019.
SIMTECH files the micro format. That format states no turnover. The gross margin rose from €32,770 in 2019 to €35,380 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 27% of 35,125 companies in 2025.
Higher than 34% of 34,499 companies in 2025.
Higher than 28% of 34,700 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
115,022 | 104,866 | 55,356 | 161,956 | 176,629 | 72,206 | 75,276 | |
21/28 |
1,789 | 350 | 1,863 | 3,516 | 4,818 | 488 | 977 | |
21 |
- | - | 1,513 | 3,166 | 4,818 | - | - | |
22/27 |
1,439 | - | - | - | - | 488 | 977 | |
23 |
1,439 | - | - | - | - | - | - | |
24 |
- | - | - | - | - | 488 | 977 | |
28 |
350 | 350 | 350 | 350 | - | - | - | |
29/58 |
113,233 | 104,516 | 53,493 | 158,441 | 171,811 | 71,718 | 74,300 | |
40/41 |
97,678 | 93,115 | 46,808 | 148,644 | 155,782 | 68,408 | 68,885 | |
40 |
58,688 | 74,080 | 9,558 | 115,676 | 130,330 | 40,784 | 39,637 | |
41 |
38,990 | 19,035 | 37,250 | 32,968 | 25,452 | 27,624 | 29,248 | |
54/58 |
15,555 | 10,501 | 5,832 | 9,450 | 15,808 | 2,994 | 5,414 | |
490/1 |
- | 900 | 853 | 347 | 221 | 316 | - | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
115,022 | 104,866 | 55,356 | 161,956 | 176,629 | 72,206 | 75,276 | |
10/15 |
29,374 | 28,284 | -4,326 | 51,630 | 52,360 | 55,471 | 28,460 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | |
11 |
- | - | - | - | - | 12,400 | - | |
1109/19 |
- | - | - | - | - | 12,400 | - | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130 |
- | - | - | - | - | - | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | |
14 |
15,114 | 14,024 | -18,586 | 37,370 | 38,100 | 41,211 | 20,400 | |
17/49 |
85,648 | 76,583 | 59,682 | 110,326 | 124,269 | 16,735 | 46,816 | |
42/48 |
85,648 | 76,203 | 59,443 | 110,326 | 124,269 | 16,735 | 46,816 | |
44 |
72,705 | 70,576 | 39,253 | 107,606 | 114,043 | 16,735 | 36,816 | |
440/4 |
72,705 | 70,576 | 39,253 | 107,606 | 114,043 | 16,735 | 36,816 | |
46 |
- | - | 10,588 | - | 8,997 | - | - | |
45 |
12,943 | 5,626 | 9,601 | 2,721 | 1,229 | - | - | |
450/3 |
12,943 | 1,708 | 3,863 | 1,753 | 1,229 | - | - | |
454/9 |
- | 3,919 | 5,738 | 967 | - | - | - | |
47/48 |
- | - | - | - | - | - | 10,000 | |
492/3 |
- | 380 | 239 | - | - | - | - | |
| Income statement | ||||||||
70 |
- | - | - | - | - | 131,207 | 147,352 | |
76A |
- | - | - | - | - | 3,746 | 3,570 | |
9900 |
35,380 | 44,425 | 20,840 | 8,873 | 8,911 | 24,668 | 32,770 | |
60/61 |
- | - | - | - | - | 110,285 | 118,151 | |
62 |
-1,930 | 9,314 | 32,294 | 6,488 | - | - | - | |
630 |
65 | 1,513 | 1,653 | 1,653 | 629 | 488 | 488 | |
640/8 |
22,068 | 552 | 42,528 | 931 | 6,668 | 3,066 | - | |
9901 |
15,178 | 33,046 | -55,635 | -198 | 1,615 | 21,114 | 32,282 | |
75/76B |
3 | 0 | 5 | 13 | 28 | - | - | |
75 |
3 | 0 | 5 | 13 | 28 | - | - | |
65/66B |
1,148 | 437 | 326 | 415 | 332 | 303 | 22 | |
65 |
1,148 | 437 | 326 | 415 | 332 | 303 | 22 | |
9903 |
14,033 | 32,609 | -55,956 | -600 | 1,311 | 20,811 | 32,260 | |
67/77 |
12,943 | - | - | 130 | 4,423 | - | - | |
9904 |
1,091 | 32,609 | -55,956 | -730 | -3,112 | 20,811 | 32,260 | |
9905 |
1,091 | 32,609 | -55,956 | -730 | -3,112 | 20,811 | 32,260 | |
| Appropriation of the result | ||||||||
9906 |
15,114 | 14,024 | -18,586 | 37,370 | 38,100 | 41,211 | 32,260 | |
14P |
14,024 | -18,586 | 37,370 | 38,100 | 41,211 | - | - | |
691/2 |
- | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | 1,860 | |
694/7 |
- | - | - | - | - | - | 10,000 | |
695 |
- | - | - | - | - | - | 10,000 | |
| Social balance sheet | ||||||||
9087 |
- | 0.3 | 1 | 0.3 | - | - | - | |
Hours worked1013 |
- | 334 | 1,582 | 426 | - | - | - | |
| Document | ||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-09-2026.
2025 annual accounts filed 55 days after the deadline. Filed on 24 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00522018.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-09-2026 | 2026-00522018 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00187692 | |
| 31-12-2023 | micro format | 24-10-2024 | 2024-00513318 | |
| 31-12-2022 | micro format | 03-10-2023 | 2023-00466787 | |
| 31-12-2021 | micro format | 30-11-2022 | 2022-20528114 | |
| 31-12-2020 | full format | 26-11-2021 | 2021-78500307 | |
| 31-12-2019 | full format | 05-03-2021 | 2021-06900346 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 15,243 | 34,559 | -53,982 | 1,455 | 2,243 | 21,603 | 32,770 | ||
| 1,155 | 34,122 | -54,303 | 923 | -2,483 | 21,299 | 32,748 | ||
| 5,816 | 0 | 0 | 350 | 4,959 | 0 | 1,465 | ||
| 5,053 | 4,669 | -3,618 | -6,358 | 12,814 | -2,420 | - | ||
| 27,585 | 28,314 | -5,950 | 48,114 | 47,541 | 54,983 | 27,484 | ||
| - | - | - | - | - | 16.1% | 21.9% | ||
| 25.5% | 27.0% | -7.8% | 31.9% | 29.6% | 76.8% | 37.8% | ||
| 1.32 | 1.37 | 0.90 | 1.44 | 1.38 | 4.29 | 1.59 | ||
| 2.92 | 2.71 | - | 2.14 | 2.37 | 0.30 | 1.64 | ||
| 3.7% | 115.3% | - | -1.4% | -5.9% | 37.5% | 113.4% | ||
| 0.9% | 31.1% | -101.1% | -0.5% | -1.8% | 28.8% | 42.9% | ||
| 13.28 | 79.09 | -165.47 | 3.51 | 6.76 | - | - | ||
| - | - | - | - | - | 113 days | 98 days | ||
| - | - | - | - | - | 55 days | 114 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 |
| 0.3 | 1 | 0.3 | |
| On a permanent contract | - | 1 | 1 |
| Joined | 0 | - | 1 |
| Left | 1 | - | 0 |
Source: social balance sheet in the 2022 to 2024 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,816 | - | - | - | - |
| Intangible fixed assets | - | - | - | - | €4,959 |
| Financial fixed assets | - | - | - | €350 | - |
| €65 | €1,513 | €1,653 | €1,653 | €629 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 54% lower than in 2024.
Debt's share of the balance-sheet total rises from 73.0% to 74.5%. Equity and debt are higher.
SIMTECH has no parent and no holdings in its annual accounts. LAHBATI Badr is the only director. SIMTECH shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 29 November 2018, SIMTECH was incorporated.1 In 2019 the registered office moved to Brussels.2 LAHBATI Badr has served as manager since 2018.3 Total assets went from €75,276 in 2019 to €115,022 in 2025 and headcount from 0.3 full-time equivalents in 2022 to 0.3 in 2024.4
| Establishment | Since | Unit number |
|---|---|---|
| Théodore Verhaegenstraat 196-202 registered office 1060 Sint-Gillis (bij-Brussel) 4322201 Installation of electric heating, air conditioning, cooling and ventilation | 29-11-2018 | 2.282.346.355 |
| Bergense Steenweg 1110 1070 Anderlecht | 01-11-2025 | 2.380.402.368 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21562A0329/00R012 | 801 m² | 1 · 441 m² | 22.6 m · 6 |
| 21306D0128/00T002 | 105 m² | 1 · 123 m² | 15.5 m · 3 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0714.941.369
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