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SMART V

Active
Private limited companyfounded 20233 yrs activeKoninginnelaan 8/ET, 1030 Schaarbeek, BelgiumKBO/BCE: BE 0800.236.835
Summary

The computed 12-month bankruptcy probability of SMART V is 7.8% (elevated). The annual accounts of SMART V for fiscal year 2025 show a net loss of 56% of the equity at the start of that year. The 2025 annual accounts show equity of €4,638 and a net result of -€6,006. The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability50▼-23
Solvency44▼-39
Growth32
Track record94
Bankruptcy probability, 12 months
7.8% Elevated
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.06 against 1.1 in 2024; short-term debt: 72% and cash: 1.7% of total assets), and 80.7% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
+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 date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
19.3%
Return on assets
-25%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-10-2025, 3 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
3 d early
2024
25 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 2 accounts on average 14 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven months
Position in the running window
31-03-2026 close28-09-2026 today31-10-2026 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

SMART V was incorporated on 31 March 2023 as a Private limited company.1 Since 2026, HASAN Gyulshen Ruzhdieva has served as director of the company.2 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 10-07-2026
  3. 3National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€4,638▼ 56.4%
2024 · €10,644
Total assets
€24,052▲ 31.4%
2024 · €18,300
Net result
-€6,006
2024 · €644
Working capital
-€16,205
2024 · €433
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
Line20242025
Operating result€863--€5,682
Net result€644--€6,006
Equity€10,644-€4,638▼ 56.4%
Total assets€18,300-€24,052▲ 31.4%
Debt€7,657-€19,414▲ 154%
Working capital€433--€16,205
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€8,000-€6,000-€4,000-€2,000€0Operating result 2024: €863€863Net result 2024: €644€644Operating result 2025: -€5,682-€5,682Net result 2025: -€6,006-€6,00620242025-€8,000-€6,000-€4,000-€2,000€0Operating result 2024: €863€863Net result 2024: €644€644Operating result 2025: -€5,682-€5,680Net result 2025: -€6,006-€6,01020242025
The operating result turns negative in 2025: a loss of €5,682 after €863 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €24,052
Fixed assets €22,944 ▲ 71.5%
Current assets €1,108 ▼ 77.5%
Equity and liabilities €24,052
Equity €4,638 ▼ 56.4%
Debt €19,414 ▲ 154%
Debt's share of the balance-sheet total rises from 41.8% to 80.7%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€7,677▲
2024 · €6,996
Cash flow
€7,352▲
2024 · €6,776
Current ratio
0.06▼
2024 · 1.10
Debt to equity
4.19▲
2024 · 0.72
ROE
-129.5%▼
2024 · 6.0%
ROA
-25.0%▼
2024 · 3.5%
Interest coverage
23.51▼
2024 · 119.46
Debt ≤ 1 year
€17,313▲
2024 · €4,487
Debt > 1 year
€2,102▼
2024 · €3,169
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,206 companies that looked in July 2024 the way this one looks now, 4.2% went bankrupt within 24 months and 90% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 10 to 30%
  • a loss of 10% of the balance sheet or more
4.2% went bankrupt
4.1% stopped otherwise
90% still going

A further 1.6% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 7.8% 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 497,662 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% 1.7%
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 75% 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 1,206 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 · 36 lines
Balance sheet Code20242025
Assets
Total assets20/58€18,300€24,052▲
Fixed assets21/28€13,380€22,944▲
Tangible fixed assets22/27€13,380€22,944▲
Plant, machinery and equipment23€13,380€22,944▲
Current assets29/58€4,920€1,108▼
Amounts receivable within one year40/41€450€710▲
Trade receivables40€450€710▲
Cash at bank and in hand54/58€4,470€398▼
Equity and liabilities
Total equity and liabilities10/49€18,300€24,052▲
Equity10/15€10,644€4,638▼
Contributions10/11€10,000€10,000=
Profit (loss) carried forward14€644-€5,362▼
Amounts payable17/49€7,657€19,414▲
Amounts payable after more than one year17€3,169€2,102▼
Financial debts170/4€3,169€2,102▼
Amounts payable within one year42/48€4,487€17,313▲
Current portion of amounts payable after more than one year42€1,016€1,068▲
Trade debts44-€1,968
Suppliers440/4-€1,968
Taxes, remuneration and social security45€327€715▲
Taxes450/3€327€715▲
Other amounts payable47/48€3,144€13,562▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6,133€13,358▲
Other operating charges640/8€384-
Gross operating margin9900€7,380€7,677▲
Operating profit (loss)9901€863-€5,682▼
Financial income75/76B-€2
Recurring financial income75-€2
Financial charges65/66B€59€327▲
Recurring financial charges65€59€327▲
Profit (loss) for the period before taxes9903€805-€6,006▼
Income taxes67/77€161-
Profit (loss) for the period9904€644-€6,006▼
Profit (loss) for the period to be appropriated9905€644-€6,006▼
Appropriation of the result
Profit (loss) to be appropriated9906€644-€5,362▼
Profit (loss) brought forward from the previous period14P-€644

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6,133€13,358▲ 118%
Other operating charges640/8€384--
Gross operating margin9900€7,380€7,677▲ 4.0%
Operating profit (loss)9901€863-€5,682▼ 758%
Financial income75/76B-€2-
Recurring financial income75-€2-
Financial charges65/66B€59€327▲ 458%
Recurring financial charges65€59€327▲ 458%
Profit (loss) for the period before taxes9903€805-€6,006▼ 847%
Income taxes67/77€161--
Profit (loss) for the period9904€644-€6,006▼ 1,033%
Profit (loss) for the period to be appropriated9905€644-€6,006▼ 1,033%
Line20242025Change
Assets
Total assets20/58€18,300€24,052▲ 31.4%
Fixed assets21/28€13,380€22,944▲ 71.5%
Tangible fixed assets22/27€13,380€22,944▲ 71.5%
Plant, machinery and equipment23€13,380€22,944▲ 71.5%
Current assets29/58€4,920€1,108▼ 77.5%
Amounts receivable within one year40/41€450€710▲ 57.8%
Trade receivables40€450€710▲ 57.8%
Cash at bank and in hand54/58€4,470€398▼ 91.1%
Equity and liabilities
Total equity and liabilities10/49€18,300€24,052▲ 31.4%
Equity10/15€10,644€4,638▼ 56.4%
Contributions10/11€10,000€10,000=
Profit (loss) carried forward14€644-€5,362▼ 933%
Amounts payable17/49€7,657€19,414▲ 154%
Amounts payable after more than one year17€3,169€2,102▼ 33.7%
Financial debts170/4€3,169€2,102▼ 33.7%
Amounts payable within one year42/48€4,487€17,313▲ 286%
Current portion of amounts payable after more than one year42€1,016€1,068▲ 5.1%
Trade debts44-€1,968-
Suppliers440/4-€1,968-
Taxes, remuneration and social security45€327€715▲ 118%
Taxes450/3€327€715▲ 118%
Other amounts payable47/48€3,144€13,562▲ 331%
Line20242025Change
Profit (loss) for the period9904€644-€6,006▼ 1,033%
+ Depreciation and write-downs630€6,133€13,358▲ 118%
Operating cash flow (approximation)€6,776€7,352▲ 8.5%
Investment in fixed assets (approximation)--€22,922-
Change in cash--€4,072-

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 31-10-2026
2026
10-07
State Gazette act Resignation: HASAN Tunay (director)
Appointment: HASAN Gyulshen Ruzhdieva (director) · Director discharge4 facts ▸
  • General meeting, 30-06-2026
  • Director resignation, HASAN Tunay (director)
  • Director discharge, HASAN Tunay
  • Director appointment, HASAN Gyulshen Ruzhdieva (director)
2025
28-10
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2024
06-10
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
State Gazette actNBB filing
1 of 4 acts read
About the unread acts

Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 director, last change in 2026
HASAN Gyulshen Ruzhdieva
Director · since 01-07-2026
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 →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Schaarbeek · 1 establishment unit since 2023
seat establishment The establishment unit on the map
Ground area
84 m²
Building footprint
78 m²
Volume, LiDAR
1,047 m³
Parcel 21910E0042/00D011, Brussels · tallest building 18.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
SMART V
Koninginnelaan 8/ET, 1030 SchaarbeekConstruction of roads and motorways
since 20232.344.084.776
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21910E0042/00D011 Brussels 84 m² 1 · 78 m² 18.3 m · 5 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.

Mandate history

2 people since 2026, 1 in office
Show
  • Board
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
HASAN Gyulshen Ruzhdieva
  • Director, from 01-07-2026 to date
HASAN Tunay
  • Director, until 30-06-2026
See the board, name and seat on a given date →

Structure & network

Connections & network

1 current director
Depth

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This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Identification & contact

Identification
Legal formPrivate limited company
Founded31-03-2023
Fiscal year end31-03
E-invoicing
Reachable via Peppol
Peppol ID 0208:0800236835
Also 9925:BE0800236835
Registered 24-11-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

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