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Smappee

Active
Public limited companyfounded 201213 yrs activeEvolis 104, 8530 Harelbeke, BelgiumKBO/BCE: BE 0849.366.642
Summary

Smappee has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €14.6m and a net result of -€3.3m. Equity is growing by ~17% per year across the filed fiscal years. Its solvency ranks better than 62% of 71 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability53▼-23
Solvency76▼-9
Growth35▼-43
Track record100
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €950,000 at 30 days acceptable
Liquidity tight (current ratio 1.43 against 1.99 in 2024; short-term debt: 45.8% and cash: 10.4% of total assets), and 48.9% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
51.1%
Return on assets
-11.4%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 13 years 0 20 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 29
Relative position
BE, all sectors
reference
Manufacture of motor vehicles, trailers and semi-trailers (NACE 29)
about 8% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
21 d early
2024
17 d early
2023
54 d early
2022
13 d early
2021
9 d late
2020
33 d early
2019
61 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% 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.
Companies Code · seven months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
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

History

On 5 October 2012, Smappee was incorporated, with a starting capital of EUR 250,000.12 The capital was increased 5 times between 2013 and 2019, most recently to EUR 13 million.345 The registered office moved to Kortrijk in 2014 and to Harelbeke in 2019.67 Of the 3 current board members, XVENT has served longest, since 2020.8 Total assets went from EUR 8.5 million in 2018 to EUR 29 million in 2025 and headcount from 21 to 95.5 full-time equivalents.9

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 09-10-2012
  3. 3Belgian State Gazette, 29-03-2013
  4. 4Belgian State Gazette, 21-02-2018
  5. 5Belgian State Gazette, 14-01-2019
  6. 6Belgian State Gazette, 19-05-2014
  7. 7Belgian State Gazette, 03-05-2019
  8. 8Belgian State Gazette, 01-10-2020
  9. 9National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€31.1m▼ 13.1%
2024 · €35.8m
EBIT margin
-5.7%▼ 11.9pp
2024 · 6.3%
Net result
-€3.3m
2024 · €1.9m
Working capital
€5.7m▼ 44.9%
2024 · €10.3m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 29, Manufacture of motor vehicles, trailers and semi-trailers, 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
Line20212022202320242025
Turnover€35.8m€31.1m▼ 13.1%
Operating result€1,455€5.1m▲ 353,572%€6.7m▲ 29.6%€2.2m▼ 66.4%-€1.8m
Net result€38,388within the sector's middle half€4.5mabove the sector's middle half▲ 11,674%€5.7mabove the sector's middle half▲ 25.6%€1.9mabove the sector's middle half▼ 67.1%-€3.3mbelow the sector's middle half
EBIT margin6.3%-5.7%▼ 11.9pp
Equity€5.8mabove the sector's middle half▲ 0.7%€10.3mabove the sector's middle half▲ 77.9%€16.0mabove the sector's middle half▲ 55.0%€17.9mabove the sector's middle half▲ 11.7%€14.6mabove the sector's middle half▼ 18.3%
Total assets€10.9mabove the sector's middle half▲ 72.0%€22.6mabove the sector's middle half▲ 107%€27.3mabove the sector's middle half▲ 20.8%€29.7mwithin the sector's middle half▲ 8.6%€28.6mwithin the sector's middle half▼ 3.6%
Debt€5.1m▲ 770%€12.2m▲ 137%€11.0m▼ 9.3%€11.4m▲ 3.4%€13.5m▲ 18.8%
Working capital€1.9m▼ 29.8%€5.8m▲ 202%€9.4m▲ 63.0%€10.3m▲ 9.1%€5.7m▼ 44.9%
Solvency53.1%within the sector's middle half▼ 37.6pp45.7%within the sector's middle half▼ 7.4pp58.6%within the sector's middle half▲ 12.9pp60.2%above the sector's middle half▲ 1.6pp51.1%within the sector's middle half▼ 9.2pp
Staff (FTE)23.4above the sector's middle half▲ 35.3%33.4above the sector's middle half▲ 42.7%49.7above the sector's middle half▲ 48.8%75.9within the sector's middle half▲ 52.7%95.5within the sector's middle half▲ 25.8%
above within below the middle half (P25 to P75) of NACE 29, Manufacture of motor vehicles, trailers and semi-trailers, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
  • 2024 Net result -67%, Staff (FTE) +53% on 2023. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
-€5.0m-€2.5m€0€2.5m€5.0m€7.5mOperating result 2021: €1,455€1,455Net result 2021: €38,388€38,388Operating result 2022: €5.1m€5.1mNet result 2022: €4.5m€4.5mOperating result 2023: €6.7m€6.7mNet result 2023: €5.7m€5.7mOperating result 2024: €2.2m€2.2mNet result 2024: €1.9m€1.9mOperating result 2025: -€1.8m-€1.8mNet result 2025: -€3.3m-€3.3m20212022202320242025-€5m-€2.5m€0€2.5m€5m€7.5mOperating result 2023: €6.7m€6.7mNet result 2023: €5.7m€5.7mOperating result 2024: €2.2m€2.2mNet result 2024: €1.9m€1.9mOperating result 2025: -€1.8m-€1.8mNet result 2025: -€3.3m-€3.3m202320242025
The operating result turns negative in 2025: a loss of €1.8m after €2.2m in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €28.6m
Fixed assets €9.8m ▲ 9.5%
Current assets €18.7m ▼ 9.4%
Equity and liabilities €28.6m
Equity €14.6m ▼ 18.3%
Provisions €435,287 ▲ 10.4%
Debt €13.5m ▲ 18.8%
Debt's share of the balance-sheet total rises from 38.4% to 47.4%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€2.3m▼
2024 · €5.0m
Cash flow
€800,096▼
2024 · €4.6m
Current ratio
1.43▼
2024 · 1.99
Quick ratio
0.70▼
2024 · 0.77
Debt to equity
0.93▲
2024 · 0.64
ROE
-22.4%▼
2024 · 10.4%
ROA
-11.4%▼
2024 · 6.3%
Interest coverage
9.26▼
2024 · 16.30
Debt ≤ 1 year
€13.1m▲
2024 · €10.4m
Income taxes
-€192,415▼
2024 · €249,790
Staff costs
€8.7m▲
2024 · €6.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 146 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.

  • Medium-sized
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
  • without age
2.1% went bankrupt
5.5% stopped otherwise
92% still going

A further 0.7% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.4% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 146 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 90 lines
Balance sheet Code20242025
Assets
Total assets20/58€29.7m€28.6m▼
Fixed assets21/28€9.0m€9.8m▲
Intangible fixed assets21€4.7m€6.7m▲
Tangible fixed assets22/27€439,297€581,349▲
Plant, machinery and equipment23€100,647€239,395▲
Furniture and vehicles24€210,137€206,045▼
Other tangible fixed assets26€128,513€135,910▲
Financial fixed assets28€3.9m€2.5m▼
Affiliated companies280/1€3.6m€2.3m▼
Participating interests280€1€1=
Amounts receivable281€3.6m€2.3m▼
Companies linked by participating interests282/3€125,000€125,000=
Participating interests282€125,000€125,000=
Other financial fixed assets284/8€167,869€112,255▼
Amounts receivable and cash guarantees285/8€167,869€112,255▼
Current assets29/58€20.7m€18.7m▼
Amounts receivable after more than one year29-€192,415
Other amounts receivable291-€192,415
Stocks and contracts in progress3€12.7m€9.6m▼
Stocks30/36€12.7m€9.6m▼
Raw materials and consumables30/31€8.6m€7.3m▼
Work in progress32€1.2m€530,730▼
Finished goods33€2.9m€1.2m▼
Goods purchased for resale34-€577,478
Amounts receivable within one year40/41€6.0m€5.8m▼
Trade receivables40€5.2m€5.2m=
Other amounts receivable41€827,089€617,323▼
Cash at bank and in hand54/58€1.6m€3.0m▲
Deferred charges and accrued income490/1€333,606€169,400▼
Equity and liabilities
Total equity and liabilities10/49€29.7m€28.6m▼
Equity10/15€17.9m€14.6m▼
Contributions10/11€12.5m€12.5m=
Capital10€12.5m€12.5m=
Issued capital100€12.5m€12.5m=
Reserves13€268,217€268,217=
Non-distributable reserves130/1€268,217€268,217=
Legal reserve130€268,217€268,217=
Profit (loss) carried forward14€5.1m€1.8m▼
Provisions and deferred taxes16€394,216€435,287▲
Provisions for liabilities and charges160/5€394,216€435,287▲
Other liabilities and charges164/5€394,216€435,287▲
Amounts payable17/49€11.4m€13.5m▲
Amounts payable within one year42/48€10.4m€13.1m▲
Financial debts43€6.0m€6.6m▲
Credit institutions430/8€6.0m€6.6m▲
Trade debts44€3.3m€3.2m▼
Suppliers440/4€3.3m€3.2m▼
Taxes, remuneration and social security45€1.1m€1.3m▲
Taxes450/3€247,437€437,023▲
Remuneration and social security454/9€857,313€820,434▼
Other amounts payable47/48€0€2.0m▲
Accrued charges and deferred income492/3€1.0m€466,729▼
Income statement Code20242025
Operating income70/76A€41.8m€35.2m▼
Turnover70€35.8m€31.1m▼
Change in stocks of work in progress, finished goods and contracts in progress71€1.0m-€2.4m▼
Own construction capitalised72€4.6m€5.9m▲
Other operating income74€341,683€539,332▲
Non-recurring operating income76A-€17,500
Operating charges60/66A€39.5m€36.9m▼
Goods for resale, raw materials and consumables60€15.2m€11.1m▼
Purchases600/8€14.7m€10.4m▼
Change in stocks: decrease (increase)609€505,843€717,208▲
Services and other goods61€13.0m€12.6m▼
Remuneration, social security and pensions62€6.9m€8.7m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.8m€4.1m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€71€67,632▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€116,000€41,071▼
Other operating charges640/8€27,697€7,821▼
Non-recurring operating charges66A€1.5m€301,968▼
Operating profit (loss)9901€2.2m-€1.8m▼
Financial income75/76B€233,713€172,536▼
Recurring financial income75€233,713€172,536▼
Income from financial fixed assets750€146,982€124,898▼
Other financial income752/9€86,731€47,638▼
Financial charges65/66B€357,420€1.9m▲
Recurring financial charges65€357,420€352,491▼
Debt charges650€306,265€249,159▼
Other financial charges652/9€51,154€103,331▲
Non-recurring financial charges66B-€1.5m
Profit (loss) for the period before taxes9903€2.1m-€3.5m▼
Income taxes67/77€249,790-€192,415▼
Taxes670/3€473,961€7,459▼
Tax adjustments and reversals of tax provisions77€224,172€199,874▼
Profit (loss) for the period9904€1.9m-€3.3m▼
Profit (loss) for the period to be appropriated9905€1.9m-€3.3m▼
Appropriation of the result
Profit (loss) to be appropriated9906€5.2m€1.8m▼
Profit (loss) brought forward from the previous period14P€3.3m€5.1m▲
Transfer to equity691/2€93,277€0▼
To the legal reserve6920€93,277€0▼
Social balance
Average headcount (FTE)908775.995.5▲

The notes to these accounts (103 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A---€41.8m€35.2m▼ 15.8%
Turnover70---€35.8m€31.1m▼ 13.1%
Change in stocks of work in progress, finished goods and contracts in progress71---€1.0m-€2.4m▼ 330%
Own construction capitalised72---€4.6m€5.9m▲ 29.1%
Other operating income74---€341,683€539,332▲ 57.8%
Non-recurring operating income76A----€17,500-
Operating charges60/66A---€39.5m€36.9m▼ 6.5%
Goods for resale, raw materials and consumables60---€15.2m€11.1m▼ 26.9%
Purchases600/8---€14.7m€10.4m▼ 29.2%
Change in stocks: decrease (increase)609---€505,843€717,208▲ 41.8%
Services and other goods61---€13.0m€12.6m▼ 3.4%
Remuneration, social security and pensions62€1.6m€2.6m€4.1m€6.9m€8.7m▲ 26.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.1m€1.2m€1.7m€2.8m€4.1m▲ 47.7%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€148,236-€55,995€71€67,632▲ 95,156%
Provisions for liabilities and charges: additions (uses and reversals)635/8-€116,928€161,288€116,000€41,071▼ 64.6%
Other operating charges640/8€9,879€130,411€210,869€27,697€7,821▼ 71.8%
Non-recurring operating charges66A---€1.5m€301,968▼ 79.2%
Gross operating margin9900€2.8m€9.3m€12.7m---
Operating profit (loss)9901€1,455€5.1m€6.7m€2.2m-€1.8m▼ 179%
Financial income75/76B€242,092€242,579€218,903€233,713€172,536▼ 26.2%
Recurring financial income75€242,092€242,579€218,903€233,713€172,536▼ 26.2%
Income from financial fixed assets750---€146,982€124,898▼ 15.0%
Other financial income752/9---€86,731€47,638▼ 45.1%
Financial charges65/66B€240,017€663,210€485,542€357,420€1.9m▲ 424%
Recurring financial charges65€240,017€663,210€485,542€357,420€352,491▼ 1.4%
Debt charges650---€306,265€249,159▼ 18.6%
Other financial charges652/9---€51,154€103,331▲ 102%
Non-recurring financial charges66B----€1.5m-
Profit (loss) for the period before taxes9903€3,531€4.7m€6.4m€2.1m-€3.5m▼ 264%
Income taxes67/77-€34,857€207,225€726,007€249,790-€192,415▼ 177%
Taxes670/3---€473,961€7,459▼ 98.4%
Tax adjustments and reversals of tax provisions77---€224,172€199,874▼ 10.8%
Profit (loss) for the period9904€38,388€4.5m€5.7m€1.9m-€3.3m▼ 275%
Transfer from tax-exempt reserves789€0-----
Profit (loss) for the period to be appropriated9905€38,388€4.5m€5.7m€1.9m-€3.3m▼ 275%
Line20212022202320242025Change
Assets
Total assets20/58€10.9m€22.6m€27.3m€29.7m€28.6m▼ 3.6%
Fixed assets21/28€3.9m€5.0m€7.0m€9.0m€9.8m▲ 9.5%
Intangible fixed assets21€1.7m€2.2m€4.1m€4.7m€6.7m▲ 44.1%
Tangible fixed assets22/27€67,050€106,256€321,725€439,297€581,349▲ 32.3%
Plant, machinery and equipment23€44,427€73,283€70,656€100,647€239,395▲ 138%
Furniture and vehicles24€22,623€32,973€130,883€210,137€206,045▼ 1.9%
Other tangible fixed assets26--€120,186€128,513€135,910▲ 5.8%
Financial fixed assets28€2.1m€2.7m€2.6m€3.9m€2.5m▼ 34.9%
Affiliated companies280/1---€3.6m€2.3m▼ 36.2%
Participating interests280---€1€1=
Amounts receivable281---€3.6m€2.3m▼ 36.2%
Companies linked by participating interests282/3---€125,000€125,000=
Participating interests282---€125,000€125,000=
Other financial fixed assets284/8---€167,869€112,255▼ 33.1%
Amounts receivable and cash guarantees285/8---€167,869€112,255▼ 33.1%
Current assets29/58€7.0m€17.6m€20.3m€20.7m€18.7m▼ 9.4%
Amounts receivable after more than one year29€146,993€0--€192,415-
Other amounts receivable291€146,993€0--€192,415-
Stocks and contracts in progress3€4.3m€12.7m€12.2m€12.7m€9.6m▼ 24.6%
Stocks30/36€4.3m€12.7m€12.2m€12.7m€9.6m▼ 24.6%
Raw materials and consumables30/31---€8.6m€7.3m▼ 15.1%
Work in progress32---€1.2m€530,730▼ 57.0%
Finished goods33---€2.9m€1.2m▼ 58.3%
Goods purchased for resale34----€577,478-
Amounts receivable within one year40/41€2.3m€3.6m€5.1m€6.0m€5.8m▼ 3.5%
Trade receivables40€2.1m€3.2m€3.6m€5.2m€5.2m=
Other amounts receivable41€166,036€415,760€1.4m€827,089€617,323▼ 25.4%
Cash at bank and in hand54/58€251,255€1.2m€2.8m€1.6m€3.0m▲ 85.7%
Deferred charges and accrued income490/1€41,966€13,533€218,214€333,606€169,400▼ 49.2%
Equity and liabilities
Total equity and liabilities10/49€10.9m€22.6m€27.3m€29.7m€28.6m▼ 3.6%
Equity10/15€5.8m€10.3m€16.0m€17.9m€14.6m▼ 18.3%
Contributions10/11€12.5m€12.5m€12.5m€12.5m€12.5m=
Capital10€12.5m€12.5m€12.5m€12.5m€12.5m=
Issued capital100€12.5m€12.5m€12.5m€12.5m€12.5m=
Reserves13--€174,940€268,217€268,217=
Non-distributable reserves130/1--€174,940€268,217€268,217=
Legal reserve130--€174,940€268,217€268,217=
Profit (loss) carried forward14-€6.7m-€2.2m€3.3m€5.1m€1.8m▼ 64.1%
Provisions and deferred taxes16-€116,928€278,216€394,216€435,287▲ 10.4%
Provisions for liabilities and charges160/5-€116,928€278,216€394,216€435,287▲ 10.4%
Other liabilities and charges164/5-€116,928€278,216€394,216€435,287▲ 10.4%
Amounts payable17/49€5.1m€12.2m€11.0m€11.4m€13.5m▲ 18.8%
Amounts payable within one year42/48€5.1m€11.8m€10.8m€10.4m€13.1m▲ 25.9%
Financial debts43--€7.0m€6.0m€6.6m▲ 10.2%
Credit institutions430/8--€7.0m€6.0m€6.6m▲ 10.2%
Trade debts44€2.5m€2.5m€2.9m€3.3m€3.2m▼ 1.4%
Suppliers440/4€2.5m€2.5m€2.9m€3.3m€3.2m▼ 1.4%
Taxes, remuneration and social security45€165,022€504,566€887,832€1.1m€1.3m▲ 13.8%
Taxes450/3€2,077€182,291€393,429€247,437€437,023▲ 76.6%
Remuneration and social security454/9€162,945€322,275€494,403€857,313€820,434▼ 4.3%
Other amounts payable47/48€2.5m€8.8m€12,728€0€2.0m-
Accrued charges and deferred income492/3€26,719€364,420€185,809€1.0m€466,729▼ 53.7%
Line20212022202320242025Change
Profit (loss) for the period9904€38,388€4.5m€5.7m€1.9m-€3.3m▼ 275%
+ Depreciation and write-downs630€1.1m€1.2m€1.7m€2.8m€4.1m▲ 47.7%
Operating cash flow (approximation)€1.1m€5.7m€7.3m€4.6m€800,096▼ 82.7%
Investment in fixed assets (approximation)--€2.3m-€3.7m-€4.7m-€4.9m▼ 4.8%
Change in cash-€991,866€1.6m-€1.2m€1.4m▲ 214%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
10-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
02-02
State Gazette act Resignation: XVENT (non-statutory director)
Permanent representative: Stefan Grosjean · Appointment: Smappee Group (non-statutory director) · Director discharge8 facts ▸
  • General meeting, 22-12-2025
  • Director resignation, XVENT (non-statutory director)
  • Director discharge, XVENT
  • Permanent representative, Stefan Grosjean (permanent representative)
  • Director appointment, Smappee Group (non-statutory director)
  • Mandate compensation, Smappee Group
  • Permanent representative, Stefan Grosjean (permanent representative)
  • Power of attorney, TITECA
2025
31-12
Financial Weakest financial yearnet -€3.3m
Net result drops to -€3.3m, the lowest in the series.
15-12
State Gazette act Resignations: BV MASH (day-to-day manager) and BV Belgard (day-to-day manager)
Permanent representatives: Hildegard Verhoeven and Kurt Vandeputte · Power of attorney6 facts ▸
  • Board meeting, 20-10-2025
  • Director resignation, BV MASH (day-to-day manager)
  • Permanent representative, Hildegard Verhoeven (permanent representative)
  • Director resignation, BV Belgard (day-to-day manager)
  • Permanent representative, Kurt Vandeputte (permanent representative)
  • Power of attorney, NV TITECA
22-07
State Gazette act Resignations: BV CSQ (day-to-day manager) and Jacob Quartier (permanent representative)
Appointments: BV MASH (day-to-day manager) and BV Belgard (day-to-day manager) · Permanent representatives: Hildegard Verhoeven and Kurt Vandeputte · Power of attorney8 facts ▸
  • Board meeting, 02-06-2025
  • Director resignation, BV CSQ (day-to-day manager)
  • Director resignation, Jacob Quartier (permanent representative)
  • Director appointment, BV MASH (day-to-day manager)
  • Permanent representative, Hildegard Verhoeven
  • Director appointment, BV Belgard (day-to-day manager)
  • Permanent representative, Kurt Vandeputte
  • Power of attorney, NV TITECA ACCOUNTANCY
14-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
12-11
State Gazette act Appointment: BDO Bedrijfsrevisoren (statutory auditor)
Mandate compensation3 facts ▸
  • General meeting, 07-05-2024
  • Auditor appointment, BDO Bedrijfsrevisoren (statutory auditor)
  • Mandate compensation, BDO Bedrijfsrevisoren
07-06
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
30-04
State Gazette act Appointment: CSQ (day-to-day manager)
Permanent representative: Jacob Quartier · Power of attorney · Mandate term6 facts ▸
  • Board meeting, 28-03-2024
  • Director appointment, CSQ (day-to-day manager)
  • Permanent representative, Jacob Quartier
  • Power of attorney, CSQ
  • Mandate term, 6 jaar, tot de jaarvergadering van boekjaar 2030
  • Mandate compensation, CSQ
2023
31-12
Financial Highest result since 2018net €5.7m ▲25.6%
Operating result €6.7m, net result €5.7m, both a record.
18-07
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial Equity above €10mEq €10.3m ▲77.9%
2 profitable years in a row build equity to €10.3m.
Show earlier events
09-08
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema · 9 days late
19-07
State Gazette act Capital & shares
Share issue · Capital increase · Statutes amendment9 facts ▸
  • General meeting, 20-06-2022
  • Share issue, Inschrijvingsrechtenplan 2022, inschrijvingsrechten
  • Capital increase
  • Statutes amendment
  • Statutes amendment
  • Power of attorney, Enige bestuurder
  • Share multiplication, 1000000
  • Preemption waiver, Voorkeurrecht tot inschrijving op de inschrijvingsrechten (art. 7:188 WVV)
  • Share rights equivalence, Nieuwe aandelen hebben dezelfde winst- en stemrechten als bestaande aandelen (art. 7:48 en 7:51 WVV)
2021
31-12
Financial Back to profitnet €38,388
Net result €38,388 after 2 loss-making years.
28-06
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
01-10
State Gazette act Resignations: Stefan GROSJEAN, XVENT and LINNET
Appointment: XVENT (statutory director) · Permanent representative: Stefan GROSJEAN · Statutes amendment9 facts ▸
  • General meeting, 22-09-2020
  • Statutes amendment
  • Capital, €12.500.000
  • Director resignation, Stefan GROSJEAN (director)
  • Director resignation, XVENT (director)
  • Director resignation, LINNET (director)
  • Director appointment, XVENT (statutory director)
  • Mandate compensation, XVENT
  • Permanent representative, Stefan GROSJEAN
30-09
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
18-09
State Gazette act Resignations: X-IT-ING (director) and CONSULTHINK (director)
Appointments: XVENT (director) and LINNET Comm. V. (director) · Permanent representatives: Stefan Grosjean and Alexandra Vanhuyse · Mandate continuation12 facts ▸
  • General meeting, 22-10-2019
  • Director resignation, X-IT-ING (director)
  • Director resignation, CONSULTHINK (director)
  • Director appointment, XVENT (director)
  • Director appointment, LINNET Comm. V. (director)
  • Permanent representative, Stefan Grosjean
  • Permanent representative, Alexandra Vanhuyse
  • Board meeting, 22-10-2019
  • Director appointment, XVENT (managing director)
  • Director appointment, XVENT (chair of the board)
  • Mandate continuation, Stefan Grosjean
  • Representation, meerderheid van de leden van de raad van bestuur, evenals door twee bestuurders, gezamenlijk optredend, waarvan steeds een bestuurder 'A' en steeds een bestuurd…
2019
31-12
Financial Liquidity triplescurrent ratio 9.63
Current ratio from 3.74 to 9.63; short-term debt falls from €1.4m to €347,359.
30-08
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
03-05
State Gazette act Registered office
Registered-office move2 facts ▸
  • Board meeting
  • Registered-office move, Evolis 104, 8530 Harelbeke
14-01
State Gazette act Capital & shares
Capital increase · Capital · Statutes amendment6 facts ▸
  • General meeting, 31-12-2018
  • Capital increase, €2.500.000
  • Capital increase, €2.500.000
  • Capital, €12.500.000
  • Statutes amendment
  • Power of attorney, VGD ACCOUNTANTS EN BELASTINGCONSULENTEN
2018
26-09
State Gazette act Reappointments: X-IT-ING, CONSULTHINK and Stefan Grosjean
Permanent representatives: Stefan Grosjean and Hans Delabie9 facts ▸
  • General meeting, 29-06-2018
  • Board meeting, 29-06-2018
  • Director reappointment, X-IT-ING (director)
  • Director reappointment, CONSULTHINK (director)
  • Director reappointment, Stefan Grosjean (director)
  • Director reappointment, X-IT-ING (managing director)
  • Director reappointment, X-IT-ING (chair of the board)
  • Permanent representative, Stefan Grosjean
  • Permanent representative, Hans Delabie
23-07
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
21-02
State Gazette act Capital & shares
Capital increase2 facts ▸
  • General meeting, 29-12-2017
  • Capital increase, €2.500.000
2017
17-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
18-03
State Gazette act Capital & shares
Capital increase2 facts ▸
  • General meeting, 29-12-2015
  • Capital increase, €2.500.000
2014
19-05
State Gazette act Registered office · Capital & shares · Statutes amendment
Registered-office move · Capital increase · Capital7 facts ▸
  • General meeting, 23-04-2014
  • Registered-office move, Evolis 100 - 8500 Kortrijk
  • Capital increase, €475.000
  • Capital increase, €1.025.000
  • Capital, €2.500.000
  • Board report, 22-04-2014
  • Reviewer report, 16-04-2014
2013
29-03
State Gazette act Capital & shares
Capital increase · Capital · Statutes amendment4 facts ▸
  • General meeting, 20-03-2013
  • Capital increase, €750.000
  • Capital, €1.000.000
  • Statutes amendment
2012
09-10
State Gazette act Incorporation
Appointments: X-ICT-ING, Stefan GROSJEAN and CONSULTHINK · Permanent representatives: Stefan GROSJEAN and Hans DELABIE · Founding capital11 facts ▸
  • Incorporation, 05-10-2012
  • Founding capital, €250.000
  • Director appointment, X-ICT-ING (class A director)
  • Permanent representative, Stefan GROSJEAN
  • Director appointment, Stefan GROSJEAN (class A director)
  • Director appointment, CONSULTHINK (class B director)
  • Permanent representative, Hans DELABIE
  • Director appointment, X-ICT-ING (voorzitter van de raad van bestuur en gedelegeerd bestuurder)
  • Mandate compensation, Smappee
  • Share structure
  • First general meeting, eerste dinsdag van de maand mei van het jaar 2014
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
16 of 16 acts read

Directors · office · real estate

Directors
2 directors, 1 in day-to-day management, no change since 2026

Board 2

XVENT
Statutory director · since 22-09-2020 · Public limited company · perm. rep.: Stefan GROSJEAN
Current
Smappee Group
Non-statutory director · since 01-01-2026 · Legal entity · perm. rep.: Stefan Grosjean
Current
3 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
SNOWBALL
Voorzitter van de raad van bestuur en gedelegeerd bestuurder · since 05-10-2012 · Class A director · since 05-10-2012 · Private limited company · perm. rep.: Stefan GROSJEAN
Not recently confirmed
CONSULTHINK
Class B director · since 05-10-2012 · Private limited company · perm. rep.: Hans DELABIE
Not recently confirmed
LINNET Comm. V.
Director · since 22-10-2019 · Legal entity · perm. rep.: Alexandra Vanhuyse
Not recently confirmed

Day-to-day management 1

CSQ
Day-to-day manager · since 28-03-2024 · Private limited company · perm. rep.: Jacob Quartier
Current
1 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
SNOWBALL
Voorzitter van de raad van bestuur en gedelegeerd bestuurder · since 05-10-2012 · Private limited company · perm. rep.: Stefan GROSJEAN
Not recently confirmed

Permanent representatives 2

Jacob Quartier
Permanent representative · since 28-03-2024 · for CSQ
Current
Stefan Grosjean
Permanent representative · since 01-01-2026 · for Smappee Group
Current
2 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
Hans DELABIE
Permanent representative · since 05-10-2012 · for CONSULTHINK
Not recently confirmed
Alexandra Vanhuyse
Permanent representative · since 22-10-2019 · for LINNET Comm. V.
Not recently confirmed

Statutory auditor 1

BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
Statutory auditor · since 07-05-2024 · perm. rep.: Veerle Catry
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Harelbeke · 2 establishment units since 2012
seat establishment approximate All 2 establishment units on the map
Ground area
1.2 ha
Building footprint
1,251 m²
Parcel 34322C0701/00A000, Flanders. Linked by address, not a title deed.
11 companies at this address See who is registered here
2 establishment units
SMAPPEE
Evolis 104, 8530 HarelbekeManufacture of computer, electronic and optical products
since 20122.214.464.270
Evolis 91, 8530 Harelbeke
Wholesale of information and communication equipment
since 20252.373.799.638
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34322C0701/00A000 Flanders 1.2 ha 1 · 1,251 m² 0.0 m
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.

Mandate history

16 people since 2012, 7 in office
Show
  • Board
  • Day-to-day management
  • Permanent representative
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
XVENT
  • Director, until 22-09-2020
  • Statutory director, from 22-09-2020 to date
Smappee Group
  • Non-statutory director, from 01-01-2026 to date
CSQ
  • Day-to-day manager, from 28-03-2024 to date
BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
  • Statutory auditor, from 07-05-2024 to date
CONSULTHINK
  • Class B director, from 05-10-2012 not ended, last confirmed 09-10-2012
SNOWBALL
  • Voorzitter van de raad van bestuur en gedelegeerd bestuurder, from 05-10-2012 not ended, last confirmed 09-10-2012
  • Class A director, from 05-10-2012 not ended, last confirmed 09-10-2012
  • Voorzitter van de raad van bestuur en gedelegeerd bestuurder, from 05-10-2012 not ended, last confirmed 09-10-2012
LINNET Comm. V.
  • Director, from 22-10-2019 not ended, last confirmed 18-09-2020
XVENT
  • Chair of the board, from 22-10-2019 ended, last mentioned 18-09-2020
  • Director, from 22-10-2019 to 01-01-2026
  • Managing director, from 22-10-2019 ended, last mentioned 18-09-2020
BV Belgard
  • Day-to-day manager, from 01-06-2025 to 20-10-2025
BV MASH
  • Day-to-day manager, from 01-06-2025 to 20-10-2025
BV CSQ
  • Day-to-day manager, until 01-06-2025
Jacob Quartier
  • Permanent representative, until 01-06-2025
Linnet
  • Director, until 22-09-2020
Stefan GROSJEAN
  • Class A director, from 05-10-2012 to 22-09-2020
CONSULTHINK
  • Director, already before 29-06-2018 to 22-10-2019
X-IT-ING
  • Chair of the board, already before 29-06-2018 ended, last mentioned 26-09-2018
  • Director, already before 29-06-2018 to 22-10-2019
  • Managing director, already before 29-06-2018 ended, last mentioned 26-09-2018
See the board, name and seat on a given date →

Articles of association

Purpose
1. Specifieke activiteiten: onderzoek, ontwikkeling, vervaardiging, aan- en verkoop, verhuren, leasen, exploitatie, commercialisatie en marketing, installeren, onderhouden…
Full purpose

1. Specifieke activiteiten: onderzoek, ontwikkeling, vervaardiging, aan- en verkoop, verhuren, leasen, exploitatie, commercialisatie en marketing, installeren, onderhouden, bedienen en herstellen van Energie Management oplossingen; onderzoek, ontwikkeling, vervaardiging, aan- en verkoop, verhuren, leasen, exploitatie, commercialisatie en marketing, installeren, onderhouden, bedienen en herstellen van Domotica oplossingen; Het verlenen van adviezen, diensten en het uitvoeren van projecten met betrekking tot Energie Management en Domotica oplossingen; Het organiseren van cursussen, seminaries of elke andere vorm van opleiding of training van hoger vermelde materies. II. Algemene activiteiten: A/ Het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren, onder om het even welke vorm; in dit kader kan zij zich ook borg stellen of haar aval verlenen, in de meest ruime zin, alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan kredietinstellingen; B/ Het ontwikkelen, kopen, verkopen, in licentie nemen of geven van octrooien, knowhow en aanverwante immateriële duurzame activa; C/ Het verlenen van administratieve prestaties en computerservices; D/ Het onderzoek, de ontwikkeling, de vervaardiging of commercialisering van nieuwe producten, nieuwe vormen van technologie en hun toepassingen; E/ De aan- en verkoop, in- en uitvoer, commissiehandel en vertegenwoordiging van om het even welke goederen, in ‘t kort tussenpersoon in de handel. III. Beheer van een eigen roerend en onroerend vermogen: A/ Het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals de huurfinanciering van onroerende goederen aan derden, het aankopen, verkopen, ruilen, bouwen, verbouwen, onderhouden, verhuren, huren, verkavelen, prospecteren en uitbaten van onroerende goederen; de aan- en verkoop, huur en verhuur van roerende goederen, alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen, alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze roerende en onroerende goederen; B/ Het aanleggen, het oordeelkundig uitbouwen en beheren van een roerend patrimonium, alle verrichtingen met betrekking tot roerende goederen en rechten, van welke aard ook, zoals het verwerven door inschrijving of aankoop en het beheren van aandelen, obligaties, kasbons of andere roerende waarden, van welke vorm ook, van Belgische of buitenlandse, bestaande of nog op te richten rechtspersonen en ondernemingen. IV. Bijzondere bepalingen: De vennootschap mag alle verrichtingen stellen van commerciële, industriële, onroerende, roerende of financiële aard die rechtstreeks of onrechtstreeks met haar voorwerp verwant of verknocht zijn of de verwezenlijking ervan kunnen bevorderen. De vennootschap mag betrokken zijn bij wijze van inbreng, samensmelting, inschrijving of op elke andere wijze, in de ondernemingen, verenigingen of vennootschappen, die een gelijkaardig, soortgelijk of samenhangend voorwerp hebben of die nuttig zijn voor de verwezenlijking van het geheel of een gedeelte van haar voorwerp. Bovenvermelde opsomming is niet beperkend, zodat de vennootschap alle handelingen kan stellen, die op welke wijze ook kunnen bijdragen tot de verwezenlijking van haar voorwerp. De vennootschap mag haar voorwerp verwezenlijken zowel in België als in het buitenland, op alle wijzen en manieren, die zij het best geschikt zou achten. De vennootschap mag geenszins aan vermogensbeheer of beleggingsadvies doen als bedoeld in de Wetten en Koninklijke Besluiten ter zake. De vennootschap zal zich dienen te onthouden van werkzaamheden die onderworpen zijn aan reglementaire bepalingen voor zover de vennootschap zelf niet aan deze bepalingen voldoet.

Structure & network

Owners and holdings

1 owner · 3 holdings

Chain of control

  1. Smappee Group 100%
  2. Smappee

Highest known parent: Smappee Group. The sources do not say who stands above it.

Owners 1

Holdings 3

According to the 2025 annual accounts of Smappee and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

1 connected company
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
SNOWBALL
Shared director
→

Capital and shareholders

Capital over the years
  1. 01-10-2020 Capital stated in the act · 12,500,000 EUR · 10,000 shares
  2. 14-01-2019 Capital increase of 2,500,000 EUR · to 10,000,000 EUR · 2,500 new shares
  3. 14-01-2019 Capital increase of 2,500,000 EUR · to 12,500,000 EUR · no new shares · from reserves
  4. 21-02-2018 Capital increase of 2,500,000 EUR · to 7,500,000 EUR · 2,500 new shares · in cash
  5. 18-03-2016 Capital increase of 2,500,000 EUR · to 5,000,000 EUR · 2,500 new shares
  6. 19-05-2014 Capital increase of 475,000 EUR · to 1,475,000 EUR · 475 new shares · “inbreng van schuldvorderingen”
  7. 19-05-2014 Capital increase of 1,025,000 EUR · to 2,500,000 EUR · 1,025 new shares · in cash
  8. 29-03-2013 Capital increase of 750,000 EUR · to 1,000,000 EUR · 750 new shares
Show 1 older capital entries
  1. 09-10-2012 Incorporation · 250,000 EUR · 250 shares

Public money · subsidies and aid

Flemish government

2022 to 2025 · 14 entries · 73,779 EUR awarded · 72,241 EUR paid
Year Entries awardedpaid
2025 4 17,482 EUR21,944 EUR
2024 4 19,678 EUR15,408 EUR
2023 3 17,966 EUR16,656 EUR
2022 3 18,653 EUR18,233 EUR
Schemes
4 entries · 41,044 EUR · 41,044 EUR paid · Departement Werk en Sociale Economie
4 entries · 16,052 EUR · 14,514 EUR paid · Fonds voor Innoveren en Ondernemen
4 entries · 15,000 EUR · 15,000 EUR paid · Vlaams Agentschap voor Internationaal Ondernemen
2 entries · 1,683 EUR · 1,683 EUR paid · Departement Werk en Sociale Economie

European Union, budget

2022 · 1 entry
Year Entries awarded
2022 1 0 EUR
Projects
EVOLVE - ELECTRIC VEHICLES POINT LOCATION OPTIMISATION VIA VEHICULAR COMMUNICATIONS
Horizon Europe · 01-01-2023 to 31-12-2026

European research

1 project
Programmes
Projects
Electric Vehicles Point Location Optimisation via Vehicular Communications
Horizon Europe · participant · 01-01-2023 to 31-12-2026 · EVOLVE

Recognitions · licences · registrations

Legal Entity Identifier

894500L9EAXMDQV14L35
live in the LEI register

Similar companies · same sector, comparable size

Of 94 companies in sector 29310 we hold annual accounts for 71. 22 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
Founded05-10-2012
Fiscal year end31-12
Activities, NACEBEL 2025
29310Manufacture of motor vehicles, trailers and semi-trailers
62100Computer programming
26200Manufacture of computer, electronic and optical products
26510Manufacture of computer, electronic and optical products
27900Manufacture of electrical equipment
46643Wholesale of electrical equipment, including installation materials
62900Other information technology and computer services
Contact
E-mail info@smappee.com
Phone 056380211
Website www.smapppee.comHarelbeke
E-invoicing
Reachable via Peppol
Peppol ID 0208:0849366642
Registered 08-01-2026

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.