Summary
SMART is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €131,659 and a net result of €8,215. Equity is shrinking by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 46% of 8074 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
7 d early
2023
16 d early
2022
6 d early
2021
45 d early
2020
12 d late
2019
35 d early
← 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 16 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What changed in the latest annual accounts?What changed What held for this company on a given day: board, seat, name?Company as of a date
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€131,659▼ 5.6%
2024 · €139,445
Net result
€8,215
2024 · -€89,469
Total assets
€280,876▲ 83.1%
2024 · €153,384
Solvency
46.9%▼ 44.0pp
2024 · 90.9%
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
Line20212022202320242025
Operating result€25,359▼ 2.0%€14,369▼ 43.3%-€14,670-€83,312▼ 468%€13,807
Net result€18,116▼ 79.4%€4,371▼ 75.9%€58,291▲ 1,234%-€89,469€8,215
Equity€215,253▼ 13.6%€202,623▼ 5.9%€228,914▲ 13.0%€139,445▼ 39.1%€131,659▼ 5.6%
Total assets€273,839▲ 1.1%€252,929▼ 7.6%€304,587▲ 20.4%€153,384▼ 49.6%€280,876▲ 83.1%
Debt€58,586▲ 170%€50,306▼ 14.1%€75,673▲ 50.4%€13,939▼ 81.6%€149,216▲ 971%
Working capital€59,716▼ 49.7%€50,675▼ 15.1%€184,806▲ 265%€95,921▼ 48.1%€33,740▼ 64.8%
Solvency78.6%▼ 13.4pp80.1%▲ 1.5pp75.2%▼ 5.0pp90.9%▲ 15.8pp46.9%▼ 44.0pp
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2025 Total assets +83% on 2024. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €13,807 after a loss of €83,312 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €280,876
Fixed assets
€203,953 ▲ 342%
Current assets
€76,922 ▼ 28.3%
Equity and liabilities €280,876
Equity
€131,659 ▼ 5.6%
Debt
€149,216 ▲ 971%
Debt's share of the balance-sheet total rises from 9.1% to 53.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
6.2%▲
2024 · -64.2%
ROA
2.9%▲
2024 · -58.3%
Debt ≤ 1 year
€43,183▲
2024 · €11,346
Debt > 1 year
€106,034▲
2024 · €2,593
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €6,310 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,365 | €7,463 | €7,679 | €8,264 | €9,943 | ▲ 20.3% |
| Other operating charges640/8 | €528 | €860 | €1,868 | €1,524 | €1,793 | ▲ 17.6% |
| Gross operating margin9900 | €31,251 | €22,692 | -€5,124 | -€73,523 | €25,543 | ▲ 135% |
| Operating profit (loss)9901 | €25,359 | €14,369 | -€14,670 | -€83,312 | €13,807 | ▲ 117% |
| Financial income75/76B | €460 | €0 | €80,026 | €0 | €154 | - |
| Recurring financial income75 | €460 | €0 | €80,026 | €0 | €154 | - |
| Financial charges65/66B | €1,470 | €3,401 | €5,490 | €6,158 | €5,746 | ▼ 6.7% |
| Recurring financial charges65 | €1,470 | €3,401 | €5,490 | €6,158 | €5,746 | ▼ 6.7% |
| Profit (loss) for the period before taxes9903 | €24,348 | €10,969 | €59,866 | -€89,469 | €8,215 | ▲ 109% |
| Income taxes67/77 | €6,233 | €6,598 | €1,575 | €0 | - | - |
| Profit (loss) for the period9904 | €18,116 | €4,371 | €58,291 | -€89,469 | €8,215 | ▲ 109% |
| Profit (loss) for the period to be appropriated9905 | €18,116 | €4,371 | €58,291 | -€89,469 | €8,215 | ▲ 109% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €273,839 | €252,929 | €304,587 | €153,384 | €280,876 | ▲ 83.1% |
| Fixed assets21/28 | €167,154 | €160,610 | €49,762 | €46,116 | €203,953 | ▲ 342% |
| Tangible fixed assets22/27 | €47,154 | €40,610 | €37,762 | €46,116 | €37,603 | ▼ 18.5% |
| Land and buildings22 | €41,488 | €36,159 | €34,052 | €28,382 | €22,712 | ▼ 20.0% |
| Plant, machinery and equipment23 | - | - | €1,233 | €5,975 | €4,555 | ▼ 23.8% |
| Furniture and vehicles24 | €5,666 | €4,452 | €2,477 | €11,759 | €10,337 | ▼ 12.1% |
| Financial fixed assets28 | €120,000 | €120,000 | €12,000 | €0 | €166,350 | - |
| Current assets29/58 | €106,685 | €92,319 | €254,825 | €107,267 | €76,922 | ▼ 28.3% |
| Amounts receivable within one year40/41 | €94,844 | €48,499 | €50,727 | €15,385 | €21,123 | ▲ 37.3% |
| Trade receivables40 | €94,844 | €47,829 | €50,653 | €15,027 | €16,966 | ▲ 12.9% |
| Other amounts receivable41 | - | €670 | €74 | €359 | €4,157 | ▲ 1,059% |
| Cash at bank and in hand54/58 | €7,020 | €41,295 | €198,804 | €88,789 | €52,558 | ▼ 40.8% |
| Deferred charges and accrued income490/1 | €4,821 | €2,524 | €5,293 | €3,093 | €3,241 | ▲ 4.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €273,839 | €252,929 | €304,587 | €153,384 | €280,876 | ▲ 83.1% |
| Equity10/15 | €215,253 | €202,623 | €228,914 | €139,445 | €131,659 | ▼ 5.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €196,653 | €184,023 | €210,314 | €210,314 | €194,314 | ▼ 7.6% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €194,793 | €182,163 | €210,314 | €210,314 | €194,314 | ▼ 7.6% |
| Profit (loss) carried forward14 | - | - | €0 | -€89,469 | -€81,255 | ▲ 9.2% |
| Amounts payable17/49 | €58,586 | €50,306 | €75,673 | €13,939 | €149,216 | ▲ 971% |
| Amounts payable after more than one year17 | €11,617 | €8,662 | €5,654 | €2,593 | €106,034 | ▲ 3,990% |
| Financial debts170/4 | €11,617 | €8,662 | €5,654 | €2,593 | €106,034 | ▲ 3,990% |
| Amounts payable within one year42/48 | €46,969 | €41,644 | €70,019 | €11,346 | €43,183 | ▲ 281% |
| Current portion of amounts payable after more than one year42 | €2,904 | €2,955 | €3,008 | €3,061 | €17,909 | ▲ 485% |
| Trade debts44 | €2,319 | €5,125 | €10,127 | €553 | €866 | ▲ 56.6% |
| Suppliers440/4 | €2,319 | €5,125 | €10,127 | €553 | €866 | ▲ 56.6% |
| Taxes, remuneration and social security45 | €25,022 | €16,431 | €23,352 | €7,732 | €8,408 | ▲ 8.7% |
| Taxes450/3 | €25,022 | €16,431 | €23,352 | €5,232 | €8,408 | ▲ 60.7% |
| Remuneration and social security454/9 | - | - | - | €2,500 | €0 | ▼ 100% |
| Other amounts payable47/48 | €16,724 | €17,133 | €33,532 | €0 | €16,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,116 | €4,371 | €58,291 | -€89,469 | €8,215 | ▲ 109% |
| + Depreciation and write-downs630 | €5,365 | €7,463 | €7,679 | €8,264 | €9,943 | ▲ 20.3% |
| Operating cash flow (approximation) | €23,480 | €11,833 | €65,970 | -€81,205 | €18,158 | ▲ 122% |
| Investment in fixed assets (approximation) | - | -€919 | €103,169 | -€4,618 | -€167,780 | ▼ 3,533% |
| Change in cash | - | €34,275 | €157,509 | -€110,015 | -€36,231 | ▲ 67.1% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €8,215
Net result €8,215 after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€89,469
Net result drops to -€89,469, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 9.45
Current ratio from 3.64 to 9.45; short-term debt falls from €70,019 to €11,346.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
2020
31-12
Financial
Highest result since 2018net €88,041 ▲179%
Net result €88,041, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 6.46
Current ratio from 2.83 to 6.46; short-term debt falls from €24,533 to €21,716.
31-12
Financial
Equity above €200,000Eq €249,237 ▲54.6%
3 profitable years in a row build equity to €249,237.
Show earlier events
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150,000Eq €161,196 ▲24.4%
2 profitable years in a row build equity to €161,196.
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Hasselt · 1 establishment unit since 2013
Ground area
500 m²
Building footprint
91 m²
Parcel 71032A0372/00A000, Flanders · tallest building 0.1 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SMART
since 20132.220.641.091
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71032A0372/00A000 | Flanders | 500 m² | 1 · 91 m² | 0.1 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2023 list no shareholders, and no other source names one.
Holdings 2
- Sourceown accounts 20232%
- Sourceown accounts 20232%
According to the 2023 annual accounts of SMART 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
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
DE WIT CONSULTANCY
BE 0792.628.768
Hoogstraten · Eq €131,674
Green Numbers
BE 0832.690.659
Knokke-Heist · Eq €131,685
DG Lux Holding
BE 0777.937.723
Léglise · Eq €131,696
IEDEREEN GELUKKIG
BE 0799.490.628
Antwerpen · Eq €131,613
Us2 Management BV
BE 0736.592.759
Gent · Eq €131,603
Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 12,967 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
Founded09-07-2013
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0536537880
Also
9925:BE0536537880
Registered
12-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.