SMARTEO
ActiveSummary
The computed 12-month bankruptcy probability of SMARTEO is 2.2% (moderate). The 2025 annual accounts show negative equity (€-3k) and a net result of €-26k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 18400 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability10▲+10
Solvency23▼-13
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.64 against 0.75 in 2024; short-term debt: 87% and cash: 11% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-1.7%
Return on assets
-13.2%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-3k
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 21-07-2026, 10 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
10 d early
2024
20 d late
2023
28 d late
2022
3 d early
2021
6 d early
2020
3 d early
2019
45 d early
← 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
€-3k
2024 · €23k
2018: €-25klowest in 8 years
2019: €34k▲ +239% vs 2018
2020: €55k▲ +60.2% vs 2019
2021: €78k▲ +42.2% vs 2020
2022: €95k▲ +22.5% vs 2021highest in 8 years
2023: €66k▼ -31.3% vs 2022
2024: €23k▼ -65.0% vs 2023
2025: €-3k▼ -114% vs 2024
2018 → 2025
Total assets
€199k▼ 8.4%
2024 · €218k
2018: €125k
2019: €115k▼ -7.9% vs 2018
2020: €67k▼ -42.2% vs 2019lowest in 8 years
2021: €95k▲ +42.5% vs 2020
2022: €115k▲ +20.7% vs 2021
2023: €133k▲ +16.0% vs 2022
2024: €218k▲ +63.6% vs 2023highest in 8 years
2025: €199k▼ -8.4% vs 2024
2018 → 2025
Net result
€-26k▲ 38.4%
2024 · €-43k
2018: €-42k
2019: €59k▲ +241% vs 2018highest in 8 years
2020: €21k▼ -65.0% vs 2019
2021: €23k▲ +12.4% vs 2020
2022: €18k▼ -24.3% vs 2021
2023: €-30k▼ -271% vs 2022
2024: €-43k▼ -42.6% vs 2023lowest in 8 years
2025: €-26k▲ +38.4% vs 2024
2018 → 2025
Working capital
€-63k▼ 78.0%
2024 · €-35k
2018: €-30k
2019: €33k▲ +210% vs 2018
2020: €54k▲ +63.8% vs 2019
2021: €77k▲ +42.7% vs 2020
2022: €95k▲ +22.7% vs 2021highest in 8 years
2023: €65k▼ -31.5% vs 2022
2024: €-35k▼ -154% vs 2023
2025: €-63k▼ -78.0% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€78k-€95k▲ 22.5%€66k▼ 31.3%€23k▼ 65.0%€-3k
2021: €78k
2022: €95k▲ +22.5% vs 2021highest in 5 years
2023: €66k▼ -31.3% vs 2022
2024: €23k▼ -65.0% vs 2023
2025: €-3k▼ -114% vs 2024lowest in 5 years
Operating result€29k-€35k▲ 21.8%€-12k€-21k▼ 65.8%€-20k▲ 4.7%
2021: €29k
2022: €35k▲ +21.8% vs 2021highest in 5 years
2023: €-12k▼ -135% vs 2022
2024: €-21k▼ -65.8% vs 2023lowest in 5 years
2025: €-20k▲ +4.7% vs 2024
Net result€23k-€18k▼ 24.3%€-30k€-43k▼ 42.6%€-26k▲ 38.4%
2021: €23khighest in 5 years
2022: €18k▼ -24.3% vs 2021
2023: €-30k▼ -271% vs 2022
2024: €-43k▼ -42.6% vs 2023lowest in 5 years
2025: €-26k▲ +38.4% 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 stays negative: a loss of €20k in 2025 against €21k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €199k
Fixed assets
€89k ▼ 22.3%
Current assets
€111k ▲ 7.0%
Key figures and ratios
EBITDA
€6k▲
2024 · €-7k
Cash flow
€-748▲
2024 · €-29k
Solvency
-1.7%▼
2024 · 10.5%
Current ratio
0.64▼
2024 · 0.75
Quick ratio
0.17▼
2024 · 0.28
Debt to equity
-61.15▼
2024 · 8.49
ROA
-13.2%▲
2024 · -19.6%
Interest coverage
0.89▲
2024 · -0.64
Debt
€203k▲
2024 · €195k
Debt ≤ 1 year
€174k▲
2024 · €139k
Debt > 1 year
€29k▼
2024 · €56k
Staff costs
€10k▼
2024 · €40k
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 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€218k€199k▼
Fixed assets21/28€114k€89k▼
Tangible fixed assets22/27€114k€88k▼
Leasing and similar rights25€114k€88k▼
Financial fixed assets28€604€604=
Current assets29/58€103k€111k▲
Stocks and contracts in progress3€65k€81k▲
Stocks30/36€65k€81k▲
Amounts receivable within one year40/41€4k€7k▲
Trade receivables40-€2k
Other amounts receivable41€4k€4k▲
Cash at bank and in hand54/58€29k€22k▼
Deferred charges and accrued income490/1€6k€946▼
Equity and liabilities
Total equity and liabilities10/49€218k€199k▼
Equity10/15€23k€-3k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€2k€-24k▼
Amounts payable17/49€195k€203k▲
Amounts payable after more than one year17€56k€29k▼
Financial debts170/4€56k€29k▼
Amounts payable within one year42/48€139k€174k▲
Current portion of amounts payable after more than one year42€26k€27k▲
Trade debts44€103k€110k▲
Suppliers440/4€103k€110k▲
Taxes, remuneration and social security45€10k€27k▲
Taxes450/3€2k€24k▲
Remuneration and social security454/9€7k€3k▼
Other amounts payable47/48-€10k
Income statement
Code20242025
Non-recurring operating income76A-€150
Remuneration, social security and pensions62€40k€10k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€26k▲
Other operating charges640/8€6k€13k▲
Gross operating margin9900€39k€29k▼
Operating profit (loss)9901€-21k€-20k▲
Financial income75/76B€0€0▲
Recurring financial income75€0€0▲
Financial charges65/66B€11k€7k▼
Recurring financial charges65€11k€7k▼
Profit (loss) for the period before taxes9903€-31k€-26k▲
Income taxes67/77€11k-
Profit (loss) for the period9904€-43k€-26k▲
Profit (loss) for the period to be appropriated9905€-43k€-26k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€-24k▼
Profit (loss) brought forward from the previous period14P€45k€2k▼
The notes to these accounts (6 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3k | - | - | - | €150 | - |
| Remuneration, social security and pensions62 | €81k | €96k | €111k | €40k | €10k | ▼ 75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €14k | €26k | ▲ 85.3% |
| Other operating charges640/8 | €548 | €15k | €987 | €6k | €13k | ▲ 104% |
| Non-recurring operating charges66A | - | €1k | - | - | - | - |
| Gross operating margin9900 | €110k | €148k | €100k | €39k | €29k | ▼ 27.2% |
| Operating profit (loss)9901 | €29k | €35k | €-12k | €-21k | €-20k | ▲ 4.7% |
| Financial income75/76B | - | - | - | €0 | €0 | ▲ 500% |
| Recurring financial income75 | - | - | - | €0 | €0 | ▲ 500% |
| Financial charges65/66B | €227 | €2k | €3k | €11k | €7k | ▼ 38.7% |
| Recurring financial charges65 | €227 | €2k | €3k | €11k | €7k | ▼ 38.7% |
| Profit (loss) for the period before taxes9903 | €29k | €34k | €-15k | €-31k | €-26k | ▲ 16.3% |
| Income taxes67/77 | €6k | €16k | €14k | €11k | - | - |
| Profit (loss) for the period9904 | €23k | €18k | €-30k | €-43k | €-26k | ▲ 38.4% |
| Profit (loss) for the period to be appropriated9905 | €23k | €18k | €-30k | €-43k | €-26k | ▲ 38.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €95k | €115k | €133k | €218k | €199k | ▼ 8.4% |
| Fixed assets21/28 | €604 | €604 | €604 | €114k | €89k | ▼ 22.3% |
| Tangible fixed assets22/27 | - | - | - | €114k | €88k | ▼ 22.4% |
| Leasing and similar rights25 | - | - | - | €114k | €88k | ▼ 22.4% |
| Financial fixed assets28 | €604 | €604 | €604 | €604 | €604 | = |
| Current assets29/58 | €94k | €114k | €132k | €103k | €111k | ▲ 7.0% |
| Stocks and contracts in progress3 | €42k | €51k | €61k | €65k | €81k | ▲ 25.5% |
| Stocks30/36 | €42k | €51k | €61k | €65k | €81k | ▲ 25.5% |
| Amounts receivable within one year40/41 | €5k | €3k | €11k | €4k | €7k | ▲ 81.9% |
| Trade receivables40 | €5k | €3k | €11k | - | €2k | - |
| Other amounts receivable41 | - | - | - | €4k | €4k | ▲ 18.0% |
| Cash at bank and in hand54/58 | €48k | €60k | €60k | €29k | €22k | ▼ 24.7% |
| Deferred charges and accrued income490/1 | - | - | €2k | €6k | €946 | ▼ 84.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €95k | €115k | €133k | €218k | €199k | ▼ 8.4% |
| Equity10/15 | €78k | €95k | €66k | €23k | €-3k | ▼ 114% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | - | €2k | €2k | = |
| Other1319 | - | - | €2k | - | - | - |
| Profit (loss) carried forward14 | €57k | €75k | €45k | €2k | €-24k | ▼ 1,062% |
| Amounts payable17/49 | €17k | €19k | €68k | €195k | €203k | ▲ 4.1% |
| Amounts payable after more than one year17 | - | - | - | €56k | €29k | ▼ 47.9% |
| Financial debts170/4 | - | - | - | €56k | €29k | ▼ 47.9% |
| Amounts payable within one year42/48 | €17k | €19k | €68k | €139k | €174k | ▲ 25.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €26k | €27k | ▲ 1.7% |
| Trade debts44 | €10k | €982 | €61k | €103k | €110k | ▲ 6.8% |
| Suppliers440/4 | €10k | €982 | €61k | €103k | €110k | ▲ 6.8% |
| Taxes, remuneration and social security45 | €7k | €18k | €7k | €10k | €27k | ▲ 179% |
| Taxes450/3 | €2k | €5k | €4k | €2k | €24k | ▲ 914% |
| Remuneration and social security454/9 | €5k | €13k | €3k | €7k | €3k | ▼ 62.7% |
| Other amounts payable47/48 | - | - | - | - | €10k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23k | €18k | €-30k | €-43k | €-26k | ▲ 38.4% |
| + Depreciation and write-downs630 | - | - | - | €14k | €26k | ▲ 85.3% |
| Operating cash flow (approximation) | €23k | €18k | €-30k | €-29k | €-748 | ▲ 97.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-128k | €0 | ▲ 100% |
| Change in cash | - | €12k | €82 | €-31k | €-7k | ▲ 76.5% |
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
21-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet €-43k
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity quadruplescurrent ratio 5.55
Current ratio from 1.41 to 5.55; short-term debt falls from €81k to €12k.
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €59k
Net result €59k after one loss-making year.
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Brussel · 1 establishment unit since 2017
Ground area
91 m²
Building footprint
77 m²
Volume, LiDAR
1,263 m³
Parcel 21802B0119/00B000, Brussels · tallest building 21.2 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Mechelsestraat 39, 1000 Brussel
since 20172.265.431.238
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21802B0119/00B000 | Brussels | 91 m² | 1 · 77 m² | 21.2 m · 6 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.
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Of 3,225 companies in sector 47400 we hold annual accounts for 1,807. 1,241 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 (pre-2019)
Founded26-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
47400Retail sale of information and communication equipment
47540Retail sale of electrical household appliances
Scores and ratios are computed by Checked and are not a credit decision.