Equity
-€3,317
Debts exceed assets in financial year 2025.
SMARTEO
Lifetime
9 annual accounts with figures on one time axispeak €195,863 (2019)
€28,562▼ 27.2%
lowest -€42,627 (2024)
-€26,248▲ €16,379
peak €95,451 (2022)
-€3,317▼ €26,248
€202,797▲ 4.1%
peak 1 FTE (2018)
-not published
Board3 names since 2019
2 directorsEZZAHRAOUI Jamal and 1 other
Documentsfilings and deeds
21-07-202610 days before the deadline
2025micro format
Gross margin from €39,241 to €28,562Loss of €26,248Equity from €22,931 to -€3,317
Key points
from the 2025 annual accountsLosses
-€98,767 in three years
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Turnover
≈ €270,000 estimated
The micro format states no turnover.
Debts
€202,797 102% of the balance sheet
Financial debts 14%Suppliers 54%Taxes and wages 13%Other 18%
Of this, €173,566 falls due within a year.
Filings
9 annual accounts 2 late
The 2023 accounts came latest: 28 days after the end of the period.
Position in the sector
-€26,248
Lower net result than 91% of companies in retail trade. Sector median €5,052 · 22,900 companies.
Checked score
52
Fair
Financially stronger than 14% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.8% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024lowest value
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.5%▲ +0.1 percentage points vs 03-2025
05-2025: 0.5%● unchanged vs 04-2025
06-2025: 0.4%▼ -0.1 percentage points vs 05-2025
07-2025: 0.5%▲ +0.1 percentage points vs 06-2025
08-2025: 0.9%▲ +0.4 percentage points vs 07-2025
09-2025: 1.5%▲ +0.6 percentage points vs 08-2025
10-2025: 1.5%● unchanged vs 09-2025
11-2025: 1.5%● unchanged vs 10-2025
12-2025: 1.5%● unchanged vs 11-2025
01-2026: 1.5%● unchanged vs 12-2025
02-2026: 1.5%● unchanged vs 01-2026
03-2026: 1.5%● unchanged vs 02-2026
04-2026: 1.5%● unchanged vs 03-2026
05-2026: 1.5%● unchanged vs 04-2026
06-2026: 1.5%● unchanged vs 05-2026
07-2026: 1.5%● unchanged vs 06-2026
08-2026: 1.7%▲ +0.2 percentage points vs 07-2026
09-2026: 1.7%● unchanged vs 08-2026
10-2026: 1.8%▲ +0.1 percentage points vs 09-2026highest value
11-2026: 1.8%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€3,317
Loss of €26,248, the second in a row (financial year 2025)
Sector: Retail trade (NACE 47)
lowers risk
Size: total assets €199,481
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 18% of them on solvency, 15% on liquidity, 17% on profitability and 5% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,008 companies had the same profile as SMARTEO has now. Each dot stands for 16 companies, two years later.
83.0%
were still trading
8.4%
stopped another way
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SMARTEO itself: 1.8% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,008 companies, not a prediction for SMARTEO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.64 (0.75 in 2024), below 1. Short-term debt is 87% and cash 11% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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 -€3,317
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 days early
2024
20 days late
2023
28 days late
2022
3 days early
2021
6 days early
2020
3 days early
2019
45 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0674854041
Appointment: Nabil Ex-Ezzahraoui (director)
Resignation: Jamal Ezzahraoui (director) · Partner: El Mehdi Raja (associé actif) · General meeting of 08-01-2024 · Gazette deed
Registered office moved from Koekelberg to Brussels
Transfer of 100 shares from CHARDOUDI Tariq to EZZAHRAOUI Jamal · New registered office: n°39 de la rue de Malines à 1000 Bruxelles · Previous registered office: Av. de Berchem-Ste-Agathe 10/ ET02, 1081 Koekelberg · General meeting of 12-05-2019 · Gazette deed
Incorporation
published on 28-04-2017 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SMARTEO Brussels | €199,481 | €28,562 | -1.7% | - |
| MOBILWORLD Heusden-Zolder | €202,155 | €31,125 | 59.5% | - |
| Danishlounge Geel | €233,824 | €32,649 | 79.1% | - |
| CHOLET Uccle | €219,670 | €41,190 | 50.9% | - |
| PROTECTSYS Anderlecht | €178,335 | €49,254 | 74.5% | - |
| AV INFORMATIQUE Fléron | €162,268 | €36,853 | -52.4% | - |
| BIMA STOCK Flémalle | €190,416 | €32,129 | -6.1% | - |
These companies have the same main activity as SMARTEO: retail sale of information and communication equipment (NACE 47400). They are comparable in size and age: total assets between €162,000 and €234,000, founded between 2015 and 2018.
Official details
Source: KBO- Status
- Active since 26-04-2017Normal situation
- Activity
- Retail sale of information and communication equipmentNACE 47400and 1 other
- Establishment unit
- 2.265.431.2381000 Brussels, since 26-04-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 30-01-2026
Annual accounts 2025
- €199,481▼ 8.4%
- Filing
- Filed on 21-07-2026, 10 days before the end of the filing period
Insights on SMARTEO
SMARTEO files the micro format. That format states no turnover. The gross margin fell from €39,572 in 2017 to €28,562 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SMARTEO
- What is the company number of SMARTEO?
- The company number of SMARTEO is 0674.854.041. The VAT number is the same number with BE in front: BE 0674.854.041.
- Where is SMARTEO based?
- The registered office is at Mechelsestraat 39, 1000 Brussels.Company details
- What does SMARTEO do?
- According to the KBO register, the main activity is retail sale of information and communication equipment (NACE 47400).
- What is the legal form of SMARTEO?
- SMARTEO is a private limited company (pre-2019) (BVBA).
- When was SMARTEO founded?
- SMARTEO was founded on 26-04-2017.
- Is SMARTEO still active?
- Yes, SMARTEO is an active enterprise in the KBO register.
- How many employees does SMARTEO have?
- SMARTEO had an average of 1 full-time equivalents in financial year 2018, according to the filed annual accounts.Financials
- What is the turnover of SMARTEO?
- The turnover in financial year 2025 is ≈ €270,000. This figure is estimated from the gross margin of €28,562 and 367 comparable companies (NACE 47). It probably lies between €150,000 and €440,000.
- Is SMARTEO profitable?
- In financial year 2025, SMARTEO made a loss of €26,248.
- Where can I find the annual accounts of SMARTEO?
- SMARTEO filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SMARTEO due?
- SMARTEO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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