SM CONCEPT
ActiveSummary
The computed 12-month bankruptcy probability of SM CONCEPT is 3.0% (moderate). The 2025 annual accounts show equity of €57,658 and a net result of €16,577. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 52% of 7625 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+85
Solvency70▼-2
Growth52=
Track record100
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 1.82 against 1.73 in 2024; short-term debt: 54.5% and cash: 23.2% of total assets), but 54.5% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45.5%
Return on assets
13.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
27 d late
2024
60 d late
2023
57 d late
2022
192 d late
2020
20 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 71 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 27 September (4 of the last 5 filed years within 38 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€485,631
EBIT margin
6.3%
Net result
€16,577
2024 · -€27,667
Working capital
€56,493▲ 63.2%
2024 · €34,608
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Turnover€485,631-
Operating result€30,672-€1,138-€2,894▲ 154%-€25,647€16,757
Net result€29,712above the sector's middle half--€10,688below the sector's middle half--€9,074below the sector's middle half▲ 15.1%-€27,667below the sector's middle half▼ 205%€16,577within the sector's middle half
EBIT margin6.3%-
Equity€30,212within the sector's middle half-€79,421within the sector's middle half-€68,748within the sector's middle half▼ 13.4%€41,081within the sector's middle half▼ 40.2%€57,658within the sector's middle half▲ 40.4%
Total assets€187,928within the sector's middle half-€127,216within the sector's middle half-€221,681within the sector's middle half▲ 74.3%€88,189within the sector's middle half▼ 60.2%€126,743within the sector's middle half▲ 43.7%
Debt€157,715-€47,795-€152,934▲ 220%€47,108▼ 69.2%€69,086▲ 46.7%
Working capital€29,723within the sector's middle half-€66,631within the sector's middle half-€59,175within the sector's middle half▼ 11.2%€34,608within the sector's middle half▼ 41.5%€56,493within the sector's middle half▲ 63.2%
Solvency16.1%within the sector's middle half-62.4%within the sector's middle half-31.0%within the sector's middle half▼ 31.4pp46.6%within the sector's middle half▲ 15.6pp45.5%within the sector's middle half▼ 1.1pp
Current ratio1.19within the sector's middle half-2.39within the sector's middle half-1.39within the sector's middle half▼ 1.011.73within the sector's middle half▲ 0.351.82within the sector's middle half▲ 0.08
Return on assets (ROA)15.8%above the sector's middle half--8.4%below the sector's middle half--4.1%below the sector's middle half▲ 4.3pp-31.4%below the sector's middle half▼ 27.3pp13.1%within the sector's middle half▲ 44.5pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €16,757 after a loss of €25,647 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €126,743
Fixed assets
€1,165 ▼ 82.0%
Current assets
€125,579 ▲ 53.7%
Equity and liabilities €126,743
Equity
€57,658 ▲ 40.4%
Debt
€69,086 ▲ 46.7%
Debt's share of the balance-sheet total rises from 53.4% to 54.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22,078▲
2024 · -€22,488
Cash flow
€21,898▲
2024 · -€24,508
Debt to equity
1.20▲
2024 · 1.15
ROE
28.8%▲
2024 · -67.3%
Interest coverage
122.50▲
2024 · -46.29
Debt ≤ 1 year
€69,086▲
2024 · €47,096
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 3.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 26,975 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €485,631 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €547 | €3,345 | €3,159 | €3,159 | €5,321 | ▲ 68.4% |
| Other operating charges640/8 | - | €1,100 | - | - | - | - |
| Gross operating margin9900 | €32,123 | €5,584 | €6,053 | -€22,488 | €22,078 | ▲ 198% |
| Operating profit (loss)9901 | €30,672 | €1,138 | €2,894 | -€25,647 | €16,757 | ▲ 165% |
| Financial income75/76B | - | - | €9 | - | - | - |
| Recurring financial income75 | - | - | €9 | - | - | - |
| Financial charges65/66B | - | €756 | €641 | €486 | €180 | ▼ 62.9% |
| Recurring financial charges65 | €960 | €756 | €641 | €486 | €180 | ▼ 62.9% |
| Profit (loss) for the period before taxes9903 | €29,712 | €382 | €2,262 | -€26,133 | €16,577 | ▲ 163% |
| Income taxes67/77 | - | €11,069 | €11,336 | €1,534 | - | - |
| Profit (loss) for the period9904 | €29,712 | -€10,688 | -€9,074 | -€27,667 | €16,577 | ▲ 160% |
| Profit (loss) for the period to be appropriated9905 | €29,712 | -€10,688 | -€9,074 | -€27,667 | €16,577 | ▲ 160% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €187,928 | €127,216 | €221,681 | €88,189 | €126,743 | ▲ 43.7% |
| Fixed assets21/28 | €553 | €12,803 | €9,644 | €6,485 | €1,165 | ▼ 82.0% |
| Tangible fixed assets22/27 | €553 | €12,803 | €9,644 | €6,485 | €1,165 | ▼ 82.0% |
| Plant, machinery and equipment23 | - | €12,803 | - | - | - | - |
| Furniture and vehicles24 | - | - | €9,644 | €6,485 | €1,165 | ▼ 82.0% |
| Current assets29/58 | €187,375 | €114,413 | €212,037 | €81,704 | €125,579 | ▲ 53.7% |
| Amounts receivable within one year40/41 | €163,508 | €62,965 | €171,913 | €63,654 | €94,859 | ▲ 49.0% |
| Trade receivables40 | - | €57,460 | €171,568 | €62,694 | €94,428 | ▲ 50.6% |
| Other amounts receivable41 | - | €5,505 | €345 | €960 | €431 | ▼ 55.1% |
| Cash at bank and in hand54/58 | €23,867 | €50,022 | €40,124 | €16,805 | €29,422 | ▲ 75.1% |
| Deferred charges and accrued income490/1 | - | €1,427 | - | €1,244 | €1,297 | ▲ 4.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €187,928 | €127,216 | €221,681 | €88,189 | €126,743 | ▲ 43.7% |
| Equity10/15 | €30,212 | €79,421 | €68,748 | €41,081 | €57,658 | ▲ 40.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | €29,712 | €60,821 | €50,148 | €22,481 | €39,058 | ▲ 73.7% |
| Amounts payable17/49 | €157,715 | €47,795 | €152,934 | €47,108 | €69,086 | ▲ 46.7% |
| Amounts payable within one year42/48 | €157,652 | €47,782 | €152,862 | €47,096 | €69,086 | ▲ 46.7% |
| Trade debts44 | €155,188 | €32,835 | €120,316 | €27,166 | €40,892 | ▲ 50.5% |
| Suppliers440/4 | - | €32,835 | €120,316 | €27,166 | €40,892 | ▲ 50.5% |
| Taxes, remuneration and social security45 | - | €1,500 | €19,591 | €8,233 | €10,470 | ▲ 27.2% |
| Taxes450/3 | - | - | €541 | €1,681 | €121 | ▼ 92.8% |
| Remuneration and social security454/9 | - | €1,500 | €19,049 | €6,552 | €10,349 | ▲ 58.0% |
| Other amounts payable47/48 | - | €13,447 | €12,955 | €11,697 | €17,724 | ▲ 51.5% |
| Accrued charges and deferred income492/3 | - | €12 | €72 | €12 | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,712 | -€10,688 | -€9,074 | -€27,667 | €16,577 | ▲ 160% |
| + Depreciation and write-downs630 | €547 | €3,345 | €3,159 | €3,159 | €5,321 | ▲ 68.4% |
| Operating cash flow (approximation) | €30,259 | -€7,343 | -€5,915 | -€24,508 | €21,898 | ▲ 189% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | - | -€9,898 | -€23,319 | €12,617 | ▲ 154% |
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
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Back to profitnet €16,577
Net result €16,577 after 3 loss-making years.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Weakest financial yearnet -€27,667
Net result drops to -€27,667, the lowest in the series; recovery starts the following year.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
08-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 192 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 2.39
Current ratio from 1.19 to 2.39; short-term debt falls from €157,652 to €47,782.
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Sint-Agatha-Berchem · 1 establishment unit since 2019
Ground area
177 m²
Building footprint
63 m²
Volume, LiDAR
686 m³
Parcel 21003A0245/00K005, Brussels · tallest building 12.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
SM CONCEPT
since 20192.371.111.451
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21003A0245/00K005 | Brussels | 177 m² | 1 · 63 m² | 12.6 m · 4 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.
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Of 29,786 companies in sector 41001 we hold annual accounts for 16,061. 13,188 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
81210General cleaning of buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0725718564
Also
9925:BE0725718564
Registered
05-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.