SmartWay
ActiveSummary
SmartWay has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €102k and a net result of €41k. Equity is growing by ~21.2% per year across the filed fiscal years. Its solvency ranks better than 87% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+96
Solvency100=
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 8.91 against 5.09 in 2024; short-term debt: 11.1% and cash: 85.7% of total assets), and 11.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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
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
88.9%
Return on assets
35.9%
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 14-07-2026, 17 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
17 d early
2024
23 d early
2023
1 d early
2022
30 d late
2021
on the day
2020
29 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
€102k▲ 67.6%
2024 · €61k
2020: €10klowest in 6 years
2021: €47k▲ +372% vs 2020
2022: €99k▲ +112% vs 2021
2023: €69k▼ -30.0% vs 2022
2024: €61k▼ -12.4% vs 2023
2025: €102k▲ +67.6% vs 2024highest in 6 years
2020 → 2025
Total assets
€114k▲ 52.7%
2024 · €75k
2020: €16klowest in 6 years
2021: €74k▲ +358% vs 2020
2022: €167k▲ +125% vs 2021highest in 6 years
2023: €94k▼ -43.6% vs 2022
2024: €75k▼ -20.5% vs 2023
2025: €114k▲ +52.7% vs 2024
2020 → 2025
Net result
€41k
2024 · €-9k
2020: €8k
2021: €37k▲ +366% vs 2020
2022: €52k▲ +42.1% vs 2021highest in 6 years
2023: €-30k▼ -157% vs 2022lowest in 6 years
2024: €-9k▲ +71.3% vs 2023
2025: €41k▲ +579% vs 2024
2020 → 2025
Working capital
€100k▲ 71.8%
2024 · €58k
2020: €10klowest in 6 years
2021: €46k▲ +363% vs 2020
2022: €97k▲ +113% vs 2021
2023: €66k▼ -32.0% vs 2022
2024: €58k▼ -12.0% vs 2023
2025: €100k▲ +71.8% vs 2024highest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€47k-€99k▲ 112%€69k▼ 30.0%€61k▼ 12.4%€102k▲ 67.6%
2021: €47klowest in 5 years
2022: €99k▲ +112% vs 2021
2023: €69k▼ -30.0% vs 2022
2024: €61k▼ -12.4% vs 2023
2025: €102k▲ +67.6% vs 2024highest in 5 years
Operating result€48k-€68k▲ 41.4%€-29k€-8k▲ 71.9%€44k
2021: €48k
2022: €68k▲ +41.4% vs 2021highest in 5 years
2023: €-29k▼ -143% vs 2022lowest in 5 years
2024: €-8k▲ +71.9% vs 2023
2025: €44k▲ +633% vs 2024
Net result€37k-€52k▲ 42.1%€-30k€-9k▲ 71.3%€41k
2021: €37k
2022: €52k▲ +42.1% vs 2021highest in 5 years
2023: €-30k▼ -157% vs 2022lowest in 5 years
2024: €-9k▲ +71.3% vs 2023
2025: €41k▲ +579% 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 returns to profit in 2025: €44k after a loss of €8k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114k
Fixed assets
€2k ▼ 31.3%
Current assets
€113k ▲ 55.5%
Equity and liabilities €114k
Equity
€102k ▲ 67.6%
Debt
€13k ▼ 11.1%
Debt's share of the balance-sheet total falls from 19.0% to 11.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€45k▲
2024 · €-7k
Cash flow
€42k▲
2024 · €-8k
Current ratio
8.91▲
2024 · 5.09
Debt to equity
0.12▼
2024 · 0.23
ROE
40.3%▲
2024 · -14.1%
ROA
35.9%▲
2024 · -11.4%
Interest coverage
938.71▲
2024 · -65.09
Debt ≤ 1 year
€13k▼
2024 · €14k
Income taxes
€3k▲
2024 · €175
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 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€75k€114k▲
Fixed assets21/28€2k€2k▼
Tangible fixed assets22/27€2k€2k▼
Furniture and vehicles24€2k€2k▼
Current assets29/58€72k€113k▲
Amounts receivable within one year40/41€20k€14k▼
Trade receivables40€20k€14k▼
Other amounts receivable41€190€25▼
Cash at bank and in hand54/58€52k€98k▲
Deferred charges and accrued income490/1€652€671▲
Equity and liabilities
Total equity and liabilities10/49€75k€114k▲
Equity10/15€61k€102k▲
Contributions10/11€2k€2k=
Reserves13€97k€100k▲
Distributable reserves133€97k€100k▲
Profit (loss) carried forward14€-38k-
Amounts payable17/49€14k€13k▼
Amounts payable within one year42/48€14k€13k▼
Trade debts44€4k€5k▲
Suppliers440/4€4k€5k▲
Taxes, remuneration and social security45€9k€7k▼
Taxes450/3€9k€7k▼
Other amounts payable47/48€1k€885▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€980€777▼
Other operating charges640/8€1k€1k▲
Gross operating margin9900€-6k€46k▲
Operating profit (loss)9901€-8k€44k▲
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€112€48▼
Recurring financial charges65€112€48▼
Profit (loss) for the period before taxes9903€-8k€44k▲
Income taxes67/77€175€3k▲
Profit (loss) for the period9904€-9k€41k▲
Profit (loss) for the period to be appropriated9905€-9k€41k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-38k€3k▲
Profit (loss) brought forward from the previous period14P€-30k€-38k▼
Transfer to equity691/2-€3k
To other reserves6921-€3k
The notes to these accounts (4 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 | €143 | €355 | €967 | €980 | €777 | ▼ 20.7% |
| Other operating charges640/8 | €165 | €729 | €1k | €1k | €1k | ▲ 8.2% |
| Gross operating margin9900 | €48k | €69k | €-27k | €-6k | €46k | ▲ 838% |
| Operating profit (loss)9901 | €48k | €68k | €-29k | €-8k | €44k | ▲ 633% |
| Financial income75/76B | €1 | €1 | €2 | - | €0 | - |
| Recurring financial income75 | €1 | €1 | €2 | - | €0 | - |
| Financial charges65/66B | €64 | €585 | €193 | €112 | €48 | ▼ 57.3% |
| Recurring financial charges65 | €64 | €585 | €193 | €112 | €48 | ▼ 57.3% |
| Profit (loss) for the period before taxes9903 | €48k | €67k | €-30k | €-8k | €44k | ▲ 626% |
| Income taxes67/77 | €11k | €15k | €199 | €175 | €3k | ▲ 1,663% |
| Profit (loss) for the period9904 | €37k | €52k | €-30k | €-9k | €41k | ▲ 579% |
| Profit (loss) for the period to be appropriated9905 | €37k | €52k | €-30k | €-9k | €41k | ▲ 579% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €74k | €167k | €94k | €75k | €114k | ▲ 52.7% |
| Fixed assets21/28 | €896 | €2k | €3k | €2k | €2k | ▼ 31.3% |
| Tangible fixed assets22/27 | €896 | €2k | €3k | €2k | €2k | ▼ 31.3% |
| Furniture and vehicles24 | €896 | €2k | €3k | €2k | €2k | ▼ 31.3% |
| Current assets29/58 | €73k | €165k | €91k | €72k | €113k | ▲ 55.5% |
| Amounts receivable within one year40/41 | €43k | €70k | €36k | €20k | €14k | ▼ 28.8% |
| Trade receivables40 | €43k | €70k | €35k | €20k | €14k | ▼ 28.2% |
| Other amounts receivable41 | €160 | €164 | €164 | €190 | €25 | ▼ 86.6% |
| Cash at bank and in hand54/58 | €30k | €96k | €55k | €52k | €98k | ▲ 88.1% |
| Deferred charges and accrued income490/1 | €331 | - | €623 | €652 | €671 | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €74k | €167k | €94k | €75k | €114k | ▲ 52.7% |
| Equity10/15 | €47k | €99k | €69k | €61k | €102k | ▲ 67.6% |
| Contributions10/11 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves13 | - | €97k | €97k | €97k | €100k | ▲ 2.7% |
| Distributable reserves133 | - | €97k | €97k | €97k | €100k | ▲ 2.7% |
| Profit (loss) carried forward14 | €45k | - | €-30k | €-38k | - | - |
| Amounts payable17/49 | €28k | €68k | €25k | €14k | €13k | ▼ 11.1% |
| Amounts payable within one year42/48 | €28k | €68k | €25k | €14k | €13k | ▼ 11.1% |
| Trade debts44 | €7k | €26k | €5k | €4k | €5k | ▲ 27.4% |
| Suppliers440/4 | €7k | €26k | €5k | €4k | €5k | ▲ 27.4% |
| Advances received on contracts in progress46 | - | €3k | - | - | - | - |
| Taxes, remuneration and social security45 | €20k | €39k | €18k | €9k | €7k | ▼ 26.0% |
| Taxes450/3 | €20k | €34k | €18k | €9k | €7k | ▼ 26.0% |
| Remuneration and social security454/9 | - | €5k | - | - | - | - |
| Other amounts payable47/48 | €1k | €27 | €1k | €1k | €885 | ▼ 19.4% |
| Accrued charges and deferred income492/3 | - | - | €384 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37k | €52k | €-30k | €-9k | €41k | ▲ 579% |
| + Depreciation and write-downs630 | €143 | €355 | €967 | €980 | €777 | ▼ 20.7% |
| Operating cash flow (approximation) | €37k | €53k | €-29k | €-8k | €42k | ▲ 651% |
| Investment in fixed assets (approximation) | - | €-1k | €-3k | €0 | €0 | - |
| Change in cash | - | €66k | €-41k | €-2k | €46k | ▲ 1,945% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €41k
Net result €41k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €102k ▲67.6%
Equity rises from €61k to €102k.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Highest result since 2020net €52k ▲42.1%
Operating result €68k, net result €52k, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 29 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, Kapellen · 1 establishment unit since 2020
Ground area
765 m²
Building footprint
120 m²
Volume, LiDAR
735 m³
Parcel 11362M0107/00W002, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SmartWay
since 20202.311.061.523
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11362M0107/00W002 | Flanders | 765 m² | 1 · 120 m² | 9.2 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.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,898. 5,598 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
Founded18-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.