Smart Windows
ActiveThe computed 12-month bankruptcy probability of Smart Windows is 2.0% (moderate). The 2025 annual accounts show equity of €114k and a net result of €21k. Equity is growing by ~46.9% per year across the filed fiscal years. Its solvency ranks better than 59% of 27711 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability81▼-19
Solvency80▼-9
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 2.09 against 2.92 in 2024; short-term debt: 43.2% and cash: 54.3% of total assets), and 45.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
Sector 43
higher
← 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
54.9%
Return on assets
9.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
31 d late
2024
13 d early
2023
26 d late
2022
on the day
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€114k▼ 19.5%
2024 · €142k
2022: €39k
2023: €51k
2024: €142k
2022 → 2025
Total assets
€208k▼ 5.5%
2024 · €221k
2022: €340k
2023: €119k
2024: €221k
2022 → 2025
Net result
€21k▼ 77.5%
2024 · €91k
2022: €36k
2023: €12k
2024: €91k
2022 → 2025
Working capital
€98k▼ 19.4%
2024 · €122k
2022: €22k
2023: €27k
2024: €122k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€39k-€51k▲ 30.4%€142k▲ 181%€114k▼ 19.5%
Operating result€44k-€17k▼ 61.5%€117k▲ 594%€29k▼ 75.2%
Net result€36k-€12k▼ 67.5%€91k▲ 677%€21k▼ 77.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 75% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €208k
Fixed assets
€20k▼ 42.9%
Current assets
€188k▲ 1.6%
Equity and liabilities €208k
Equity
€114k▼ 19.5%
Debt
€94k▲ 19.7%
The debt ratio rises from 35.6% to 45.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€44k▼
2024 · €133k
Cash flow
€36k▼
2024 · €107k
Solvency
54.9%▼
2024 · 64.4%
Current ratio
2.09▼
2024 · 2.92
Quick ratio
1.77▼
2024 · 2.84
Debt / equity
0.82▲
2024 · 0.55
ROE
18.0%▼
2024 · 64.4%
ROA
9.9%▼
2024 · 41.5%
Interest coverage
12.06▼
2024 · 103.79
Debt
€94k▲
2024 · €79k
Debt ≤ 1 year
€90k▲
2024 · €63k
Debt > 1 year
€4k▼
2024 · €15k
Income taxes
€6k▼
2024 · €25k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€221k€208k▼
Fixed assets21/28€35k€20k▼
Tangible fixed assets22/27€33k€18k▼
Plant, machinery and equipment23€7k€4k▼
Furniture and vehicles24€14k€9k▼
Leasing and similar rights25€12k€5k▼
Financial fixed assets28€2k€2k=
Current assets29/58€185k€188k▲
Stocks and contracts in progress3€5k€28k▲
Stocks30/36€5k€8k▲
Contracts in progress37-€21k
Amounts receivable within one year40/41€35k€26k▼
Trade receivables40€2k€9k▲
Other amounts receivable41€32k€18k▼
Cash at bank and in hand54/58€121k€113k▼
Deferred charges and accrued income490/1€24k€20k▼
Equity and liabilities
Total equity and liabilities10/49€221k€208k▼
Equity10/15€142k€114k▼
Contributions10/11€3k€3k=
Reserves13€91k€112k▲
Distributable reserves133€91k€112k▲
Profit (loss) carried forward14€48k-
Amounts payable17/49€79k€94k▲
Amounts payable after more than one year17€15k€4k▼
Financial debts170/4€15k€4k▼
Amounts payable within one year42/48€63k€90k▲
Current portion of amounts payable after more than one year42€11k€11k▼
Trade debts44€22k€45k▲
Suppliers440/4€22k€45k▲
Taxes, remuneration and social security45€31k€26k▼
Taxes450/3€30k€25k▼
Remuneration and social security454/9€1k€1k▲
Other amounts payable47/48-€8k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€15k▼
Other operating charges640/8€1k€1k▲
Gross operating margin9900€134k€46k▼
Operating profit (loss)9901€117k€29k▼
Financial income75/76B€477€911▲
Recurring financial income75€477€911▲
Financial charges65/66B€1k€4k▲
Recurring financial charges65€1k€4k▲
Profit (loss) for the period before taxes9903€116k€26k▼
Income taxes67/77€25k€6k▼
Profit (loss) for the period9904€91k€21k▼
Profit (loss) for the period to be appropriated9905€91k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€140k€69k▼
Profit (loss) brought forward from the previous period14P€48k€48k=
Transfer from equity791/2-€42k
Transfer to equity691/2€91k€63k▼
To other reserves6921€91k€63k▼
Profit to be distributed694/7-€48k
Return on contributions (dividend)694-€48k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2022net €91k ▲677%
Operating result €117k, net result €91k, both a record.
31-12
Financial
Equity above €100kEq €142k ▲181%
3 profitable years in a row build equity to €142k.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Weakest financial yearnet €12k ▼67.5%
Net result drops to €12k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Maldegem · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bogaardestraat 230B9990 MaldegemGround area
5,778 m²
Building footprint
3,344 m²
Volume, LiDAR
1,324 m³
Parcel 43503F0103/00S003, Flanders · tallest building 17.9 m. Linked by address, not a title deed.
1 establishment unit
Smart Windows
since 20212.317.629.116
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43503F0103/00S003 | Flanders | 5,778 m² | 1 · 3,344 m² | 17.9 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
648821LWJW9122V7IY95
Similar companies · same sector, comparable size
ALL WOOD BUILDING
BE 0883.512.622
Geraardsbergen · Eq €114k
CALIS
BE 0465.775.885
Wingene · Eq €114k
DE RAAMMEESTER
BE 0677.434.637
Sint-Truiden · Eq €114k
LUK DE PROFT
BE 0866.226.331
Bornem · Eq €114k
WD Raamservice
BE 1001.793.630
Alken · Eq €115k
Of 20,026 companies in sector 43320 we hold annual accounts for 9,136. 7,711 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-05-2021
Fiscal year end31-12
Activities, NACEBEL
43320Joinery installation
43240Other construction installation
43299Specialised construction activities
47120Other non-specialised retail sale
47522Retail trade
47910Retail trade
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.