Smart Construct
ActiveSummary
Smart Construct has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €364,650 and a net result of -€30,200. Equity is growing by ~19.8% per year across the filed fiscal years. Its solvency ranks better than 94% of 2293 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability9▼-75
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 24.58 against 8.45 in 2024; short-term debt: 4% and cash: 2.8% of total assets), and 4.5% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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 01-07-2026, 30 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
30 d early
2024
14 d early
2023
20 d early
2022
3 d early
2021
33 d early
2020
16 d early
2019
28 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 13 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€364,650▼ 7.6%
2024 · €394,850
Total assets
€381,735▼ 14.9%
2024 · €448,734
Net result
-€30,200
2024 · €53,390
Working capital
€361,585▼ 6.1%
2024 · €385,037
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€48,401▼ 53.9%€72,414▲ 49.6%€104,352▲ 44.1%€51,583▼ 50.6%-€50,699
Net result€25,649▼ 63.4%€40,422▲ 57.6%€71,060▲ 75.8%€53,390▼ 24.9%-€30,200
Equity€229,977▲ 19.8%€270,399▲ 17.6%€341,460▲ 26.3%€394,850▲ 15.6%€364,650▼ 7.6%
Total assets€456,097▲ 4.2%€427,172▼ 6.3%€465,238▲ 8.9%€448,734▼ 3.5%€381,735▼ 14.9%
Debt€226,120▼ 8.0%€156,773▼ 30.7%€123,778▼ 21.0%€53,884▼ 56.5%€17,085▼ 68.3%
Working capital€199,427▲ 28.5%€223,382▲ 12.0%€310,898▲ 39.2%€385,037▲ 23.8%€361,585▼ 6.1%
Staff (FTE)10.4▼ 21.2%9.5▼ 8.7%7.9▼ 16.8%2.1▼ 73.4%0▼ 100%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €50,699 after €51,583 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €381,735
Fixed assets
€4,816 ▼ 59.9%
Current assets
€376,919 ▼ 13.7%
Equity and liabilities €381,735
Equity
€364,650 ▼ 7.6%
Debt
€17,085 ▼ 68.3%
Debt's share of the balance-sheet total falls from 12.0% to 4.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€43,505▼
2024 · €64,492
Cash flow
-€23,006▼
2024 · €66,299
Current ratio
24.58▲
2024 · 8.45
Debt to equity
0.05▼
2024 · 0.14
ROE
-8.3%▼
2024 · 13.5%
ROA
-7.9%▼
2024 · 11.9%
Interest coverage
-86.86▼
2024 · 113.93
Debt ≤ 1 year
€15,335▼
2024 · €51,688
Income taxes
-€80▼
2024 · €11,704
Staff costs
€0▼
2024 · €142,296
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 | - | - | €37,582 | €70,423 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €7,574 | €530,192 | €437,820 | €142,296 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,144 | €26,180 | €20,040 | €12,909 | €7,194 | ▼ 44.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €36,999 | €0 | -€36,999 | €0 | - | - |
| Other operating charges640/8 | €4,654 | €3,285 | €39,668 | €1,169 | €537 | ▼ 54.1% |
| Non-recurring operating charges66A | - | - | €2,586 | €0 | - | - |
| Gross operating margin9900 | €108,772 | €632,070 | €567,467 | €207,957 | -€42,968 | ▼ 121% |
| Operating profit (loss)9901 | €48,401 | €72,414 | €104,352 | €51,583 | -€50,699 | ▼ 198% |
| Financial income75/76B | €2,556 | €1,742 | €6,718 | €14,078 | €20,920 | ▲ 48.6% |
| Recurring financial income75 | €2,556 | €1,742 | €6,718 | €14,078 | €20,920 | ▲ 48.6% |
| Financial charges65/66B | €2,925 | €935 | €481 | €566 | €501 | ▼ 11.5% |
| Recurring financial charges65 | €2,925 | €935 | €481 | €566 | €501 | ▼ 11.5% |
| Profit (loss) for the period before taxes9903 | €48,031 | €73,222 | €110,589 | €65,095 | -€30,280 | ▼ 147% |
| Income taxes67/77 | €22,383 | €32,800 | €39,528 | €11,704 | -€80 | ▼ 101% |
| Profit (loss) for the period9904 | €25,649 | €40,422 | €71,060 | €53,390 | -€30,200 | ▼ 157% |
| Profit (loss) for the period to be appropriated9905 | €25,649 | €40,422 | €71,060 | €53,390 | -€30,200 | ▼ 157% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €456,097 | €427,172 | €465,238 | €448,734 | €381,735 | ▼ 14.9% |
| Fixed assets21/28 | €48,468 | €47,018 | €32,849 | €12,009 | €4,816 | ▼ 59.9% |
| Intangible fixed assets21 | - | - | €1,718 | €1,338 | €958 | ▼ 28.4% |
| Tangible fixed assets22/27 | €41,638 | €41,538 | €25,852 | €10,672 | €3,858 | ▼ 63.8% |
| Furniture and vehicles24 | €40,628 | €40,820 | €22,463 | €8,741 | €3,225 | ▼ 63.1% |
| Other tangible fixed assets26 | €1,010 | €718 | €3,389 | €1,931 | €632 | ▼ 67.3% |
| Financial fixed assets28 | €6,830 | €5,480 | €5,280 | €0 | - | - |
| Current assets29/58 | €407,629 | €380,154 | €432,389 | €436,725 | €376,919 | ▼ 13.7% |
| Amounts receivable within one year40/41 | €203,176 | €280,693 | €198,788 | €306,929 | €365,860 | ▲ 19.2% |
| Trade receivables40 | €195,559 | €185,151 | €104,213 | €4,383 | €1,630 | ▼ 62.8% |
| Other amounts receivable41 | €7,617 | €95,542 | €94,575 | €302,546 | €364,230 | ▲ 20.4% |
| Cash at bank and in hand54/58 | €166,013 | €98,116 | €231,312 | €129,535 | €10,670 | ▼ 91.8% |
| Deferred charges and accrued income490/1 | €38,440 | €1,345 | €2,288 | €261 | €389 | ▲ 49.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €456,097 | €427,172 | €465,238 | €448,734 | €381,735 | ▼ 14.9% |
| Equity10/15 | €229,977 | €270,399 | €341,460 | €394,850 | €364,650 | ▼ 7.6% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €211,427 | €251,849 | €322,910 | €376,300 | €346,100 | ▼ 8.0% |
| Distributable reserves133 | €211,427 | €251,849 | €322,910 | €376,300 | €346,100 | ▼ 8.0% |
| Amounts payable17/49 | €226,120 | €156,773 | €123,778 | €53,884 | €17,085 | ▼ 68.3% |
| Amounts payable within one year42/48 | €208,202 | €156,773 | €121,490 | €51,688 | €15,335 | ▼ 70.3% |
| Financial debts43 | €13,356 | €5,008 | €0 | - | - | - |
| Credit institutions430/8 | €13,356 | €5,008 | €0 | - | - | - |
| Trade debts44 | €86,200 | €47,621 | €27,457 | €5,833 | €864 | ▼ 85.2% |
| Suppliers440/4 | €86,200 | €47,621 | €27,457 | €5,833 | €864 | ▼ 85.2% |
| Taxes, remuneration and social security45 | €108,645 | €104,143 | €94,034 | €45,854 | €12,920 | ▼ 71.8% |
| Taxes450/3 | €31,215 | €29,311 | €60,031 | €45,854 | €12,920 | ▼ 71.8% |
| Remuneration and social security454/9 | €77,430 | €74,832 | €34,002 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | €1,551 | - |
| Accrued charges and deferred income492/3 | €17,918 | €0 | €2,288 | €2,196 | €1,750 | ▼ 20.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,649 | €40,422 | €71,060 | €53,390 | -€30,200 | ▼ 157% |
| + Depreciation and write-downs630 | €11,144 | €26,180 | €20,040 | €12,909 | €7,194 | ▼ 44.3% |
| Operating cash flow (approximation) | €36,793 | €66,602 | €91,100 | €66,299 | -€23,006 | ▼ 135% |
| Investment in fixed assets (approximation) | - | -€24,729 | -€5,872 | €7,931 | €0 | ▼ 100% |
| Change in cash | - | -€67,897 | €133,196 | -€101,777 | -€118,865 | ▼ 16.8% |
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
14-09
State Gazette act
Permanent representative: Brecht De MeyRegistered-office move3 facts ▸
State Gazette act
Permanent representative: Brecht De Mey
Registered-office move3 facts ▸
- Board meeting, 14-08-2026
- Registered-office move, 8800 Roeselare, Nelekouter 79 bus 2.1 & 2.2
- Permanent representative, Brecht De Mey (permanent representative)
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€30,200
Net result drops to -€30,200, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 24.58
Current ratio from 8.45 to 24.58; short-term debt falls from €51,688 to €15,335.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 8.45
Current ratio from 3.56 to 8.45; short-term debt falls from €121,490 to €51,688.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €200,000Eq €229,977 ▲19.8%
3 profitable years in a row build equity to €229,977.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €150,000Eq €191,979 ▲57.6%
2 profitable years in a row build equity to €191,979.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Roeselare · 1 establishment unit since 2018
Ground area
2.1 ha
Building footprint
534 m²
Volume, LiDAR
364 m³
Parcel 36505C1171/00F000, Flanders · tallest building 35.5 m. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Smart Construct
since 20182.271.965.375
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36505C1171/00F000 | Flanders | 2.1 ha | 1 · 534 m² | 35.5 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 4 entries · 1,449 EUR awarded · 1,449 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | -9,996 EUR | 0 EUR |
| 2023 | 1 | 9,996 EUR | 0 EUR |
| 2022 | 2 | 1,449 EUR | 1,449 EUR |
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Of 24,515 companies in sector 82990 we hold annual accounts for 9,413. 6,307 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
Founded10-01-2018
Fiscal year end31-12
Trade name NL
SMART ENGINEERING
Activities, NACEBEL 2025
43221Plumbing work
82990Other business support services
71111Activities of building architects
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.