Smart Integrations
ActiveSummary
The computed 12-month bankruptcy probability of Smart Integrations is 1.9% (moderate). The 2025 annual accounts show equity of €150k and a net result of €29k. Equity is growing by ~22.7% per year across the filed fiscal years. Its solvency ranks better than 36% of 27965 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-4
Solvency60▼-34
Growth78=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.3 against 3.39 in 2024; short-term debt: 51.9% and cash: 23.5% of total assets), and 65.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
34.7%
Return on assets
6.7%
Age of the figures
9 mo
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 26-03-2026, 127 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
127 d early
2024
146 d early
2023
64 d early
2022
on the day
2021
26 d early
2020
30 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€150k▼ 48.1%
2024 · €288k
2020: €25klowest in 6 years
2021: €49k▲ +95.7% vs 2020
2022: €207k▲ +326% vs 2021
2023: €247k▲ +19.1% vs 2022
2024: €288k▲ +16.9% vs 2023highest in 6 years
2025: €150k▼ -48.1% vs 2024
2020 → 2025
Total assets
€431k▲ 2.7%
2024 · €419k
2020: €106klowest in 6 years
2021: €130k▲ +22.7% vs 2020
2022: €430k▲ +230% vs 2021
2023: €416k▼ -3.2% vs 2022
2024: €419k▲ +0.9% vs 2023
2025: €431k▲ +2.7% vs 2024highest in 6 years
2020 → 2025
Net result
€29k▼ 30.7%
2024 · €42k
2020: €24klowest in 6 years
2021: €27k▲ +13.1% vs 2020
2022: €162k▲ +499% vs 2021highest in 6 years
2023: €120k▼ -26.1% vs 2022
2024: €42k▼ -65.2% vs 2023
2025: €29k▼ -30.7% vs 2024
2020 → 2025
Working capital
€67k▼ 68.5%
2024 · €213k
2020: €8klowest in 6 years
2021: €15k▲ +89.5% vs 2020
2022: €138k▲ +816% vs 2021
2023: €209k▲ +51.6% vs 2022
2024: €213k▲ +2.1% vs 2023highest in 6 years
2025: €67k▼ -68.5% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€49k-€207k▲ 326%€247k▲ 19.1%€288k▲ 16.9%€150k▼ 48.1%
2021: €49klowest in 5 years
2022: €207k▲ +326% vs 2021
2023: €247k▲ +19.1% vs 2022
2024: €288k▲ +16.9% vs 2023highest in 5 years
2025: €150k▼ -48.1% vs 2024
Operating result€35k-€248k▲ 599%€156k▼ 37.2%€55k▼ 64.5%€35k▼ 36.2%
2021: €35k
2022: €248k▲ +599% vs 2021highest in 5 years
2023: €156k▼ -37.2% vs 2022
2024: €55k▼ -64.5% vs 2023
2025: €35k▼ -36.2% vs 2024lowest in 5 years
Net result€27k-€162k▲ 499%€120k▼ 26.1%€42k▼ 65.2%€29k▼ 30.7%
2021: €27klowest in 5 years
2022: €162k▲ +499% vs 2021highest in 5 years
2023: €120k▼ -26.1% vs 2022
2024: €42k▼ -65.2% vs 2023
2025: €29k▼ -30.7% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €431k
Fixed assets
€140k ▲ 19.9%
Current assets
€291k ▼ 3.9%
Equity and liabilities €431k
Equity
€150k ▼ 48.1%
Debt
€281k ▲ 115%
Debt's share of the balance-sheet total rises from 31.2% to 65.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€70k▼
2024 · €82k
Cash flow
€64k▼
2024 · €68k
Current ratio
1.30▼
2024 · 3.39
Quick ratio
1.09▼
2024 · 2.26
Debt to equity
1.88▲
2024 · 0.45
ROE
19.3%▲
2024 · 14.4%
ROA
6.7%▼
2024 · 9.9%
Interest coverage
15.66▼
2024 · 22.24
Debt ≤ 1 year
€223k▲
2024 · €89k
Debt > 1 year
€55k▲
2024 · €40k
Income taxes
€6k▼
2024 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€419k€431k▲
Fixed assets21/28€117k€140k▲
Tangible fixed assets22/27€117k€140k▲
Plant, machinery and equipment23€12k€7k▼
Furniture and vehicles24€87k€117k▲
Other tangible fixed assets26€18k€16k▼
Current assets29/58€302k€291k▼
Stocks and contracts in progress3€101k€46k▼
Stocks30/36€101k€46k▼
Amounts receivable within one year40/41€62k€65k▲
Trade receivables40€38k€50k▲
Other amounts receivable41€24k€14k▼
Current investments50/53€60k€75k▲
Cash at bank and in hand54/58€76k€101k▲
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€419k€431k▲
Equity10/15€288k€150k▼
Contributions10/11€1k€1k=
Reserves13€149k€149k=
Distributable reserves133€149k€149k=
Profit (loss) carried forward14€139k€0▼
Amounts payable17/49€131k€281k▲
Amounts payable after more than one year17€40k€55k▲
Financial debts170/4€40k€55k▲
Amounts payable within one year42/48€89k€223k▲
Current portion of amounts payable after more than one year42€28k€29k▲
Trade debts44€18k€12k▼
Suppliers440/4€18k€12k▼
Taxes, remuneration and social security45€6k€5k▼
Taxes450/3€6k€5k▼
Other amounts payable47/48€37k€177k▲
Accrued charges and deferred income492/3€2k€3k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€35k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€144
Other operating charges640/8€623€1k▲
Non-recurring operating charges66A€7k€2k▼
Gross operating margin9900€89k€74k▼
Operating profit (loss)9901€55k€35k▼
Financial income75/76B€1k€4k▲
Recurring financial income75€1k€4k▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€53k€35k▼
Income taxes67/77€11k€6k▼
Profit (loss) for the period9904€42k€29k▼
Profit (loss) for the period to be appropriated9905€42k€29k▼
Appropriation of the result
Profit (loss) to be appropriated9906€139k€168k▲
Profit (loss) brought forward from the previous period14P€97k€139k▲
Profit to be distributed694/7€0€168k▲
Return on contributions (dividend)694€0€168k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €8k | €21k | €26k | €35k | ▲ 32.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €144 | - |
| Other operating charges640/8 | €498 | €18k | €666 | €623 | €1k | ▲ 85.4% |
| Non-recurring operating charges66A | €11k | - | €19k | €7k | €2k | ▼ 71.5% |
| Gross operating margin9900 | €53k | €273k | €196k | €89k | €74k | ▼ 17.8% |
| Operating profit (loss)9901 | €35k | €248k | €156k | €55k | €35k | ▼ 36.2% |
| Financial income75/76B | €2k | €1k | €1k | €1k | €4k | ▲ 163% |
| Recurring financial income75 | €2k | €1k | €1k | €1k | €4k | ▲ 163% |
| Financial charges65/66B | €645 | €20k | €2k | €4k | €4k | ▲ 22.0% |
| Recurring financial charges65 | €645 | €1k | €2k | €4k | €4k | ▲ 22.0% |
| Non-recurring financial charges66B | - | €19k | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €37k | €229k | €155k | €53k | €35k | ▼ 34.9% |
| Income taxes67/77 | €10k | €67k | €35k | €11k | €6k | ▼ 50.2% |
| Profit (loss) for the period9904 | €27k | €162k | €120k | €42k | €29k | ▼ 30.7% |
| Profit (loss) for the period to be appropriated9905 | €27k | €162k | €120k | €42k | €29k | ▼ 30.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €130k | €430k | €416k | €419k | €431k | ▲ 2.7% |
| Fixed assets21/28 | €74k | €140k | €83k | €117k | €140k | ▲ 19.9% |
| Tangible fixed assets22/27 | €74k | €140k | €83k | €117k | €140k | ▲ 19.9% |
| Plant, machinery and equipment23 | €8k | €10k | €10k | €12k | €7k | ▼ 37.3% |
| Furniture and vehicles24 | €66k | €115k | €55k | €87k | €117k | ▲ 33.6% |
| Other tangible fixed assets26 | - | €15k | €18k | €18k | €16k | ▼ 9.3% |
| Current assets29/58 | €56k | €289k | €332k | €302k | €291k | ▼ 3.9% |
| Stocks and contracts in progress3 | €7k | €85k | €92k | €101k | €46k | ▼ 54.1% |
| Stocks30/36 | €7k | €85k | €92k | €101k | €46k | ▼ 54.1% |
| Amounts receivable within one year40/41 | €2k | €37k | €41k | €62k | €65k | ▲ 4.0% |
| Trade receivables40 | €2k | €31k | €40k | €38k | €50k | ▲ 33.3% |
| Other amounts receivable41 | €336 | €6k | €428 | €24k | €14k | ▼ 41.2% |
| Current investments50/53 | - | - | €35k | €60k | €75k | ▲ 25.0% |
| Cash at bank and in hand54/58 | €45k | €161k | €155k | €76k | €101k | ▲ 33.2% |
| Deferred charges and accrued income490/1 | €2k | €7k | €10k | €3k | €3k | ▲ 4.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €130k | €430k | €416k | €419k | €431k | ▲ 2.7% |
| Equity10/15 | €49k | €207k | €247k | €288k | €150k | ▼ 48.1% |
| Contributions10/11 | €1k | €1k | €1k | €1k | €1k | = |
| Reserves13 | €20k | €149k | €149k | €149k | €149k | = |
| Distributable reserves133 | €20k | €149k | €149k | €149k | €149k | = |
| Profit (loss) carried forward14 | €28k | €58k | €97k | €139k | €0 | ▼ 100% |
| Amounts payable17/49 | €81k | €222k | €169k | €131k | €281k | ▲ 115% |
| Amounts payable after more than one year17 | €40k | €70k | €45k | €40k | €55k | ▲ 39.2% |
| Financial debts170/4 | €40k | €70k | €45k | €40k | €55k | ▲ 39.2% |
| Amounts payable within one year42/48 | €41k | €152k | €123k | €89k | €223k | ▲ 151% |
| Current portion of amounts payable after more than one year42 | €13k | €25k | €25k | €28k | €29k | ▲ 2.7% |
| Trade debts44 | €5 | €38k | €9k | €18k | €12k | ▼ 31.2% |
| Suppliers440/4 | €5 | €38k | €9k | €18k | €12k | ▼ 31.2% |
| Taxes, remuneration and social security45 | €19k | €82k | €22k | €6k | €5k | ▼ 15.2% |
| Taxes450/3 | €19k | €82k | €22k | €6k | €5k | ▼ 15.2% |
| Remuneration and social security454/9 | €521 | - | - | - | - | - |
| Other amounts payable47/48 | €9k | €6k | €66k | €37k | €177k | ▲ 376% |
| Accrued charges and deferred income492/3 | - | €137 | €554 | €2k | €3k | ▲ 20.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27k | €162k | €120k | €42k | €29k | ▼ 30.7% |
| + Depreciation and write-downs630 | €6k | €8k | €21k | €26k | €35k | ▲ 32.3% |
| Operating cash flow (approximation) | €33k | €170k | €140k | €68k | €64k | ▼ 6.2% |
| Investment in fixed assets (approximation) | - | €-74k | €36k | €-60k | €-58k | ▲ 2.8% |
| Change in cash | - | €115k | €-6k | €-79k | €25k | ▲ 132% |
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
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2020net €162k ▲499%
Operating result €248k, net result €162k, both a record.
31-12
Financial
Equity above €200kEq €207k ▲326%
3 profitable years in a row build equity to €207k.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Nazareth-De Pinte · 1 establishment unit since 2020
Ground area
468 m²
Building footprint
95 m²
Volume, LiDAR
478 m³
Parcel 44018A0777/00R000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Smart Integrations
since 20202.298.613.948
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44018A0777/00R000 | Flanders | 467 m² | 1 · 95 m² | 7.8 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 954 EUR awarded · 954 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 954 EUR | 954 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 8,604 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
Founded24-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
Contact
E-mail
info@smartintegrations.eu
Scores and ratios are computed by Checked and are not a credit decision.