SMD TRADE
Open bankruptcyA bankruptcy procedure is open for SMD TRADE according to publications in the Belgian State Gazette; curator: ALAIN HENDERICKX. The 2024 annual accounts show equity of €396 and a net result of €-19k.
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 26043 sector peers (2024).
NBB · sector comparisonPosition among 26043 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
56 d late
2022
268 d late
2021
71 d late
2020
90 d late
2019
119 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€396▼ 97.6%
2023 · €16k
2019: €-20k
2020: €-24k
2021: €-13k
2022: €16k
2023: €16k
2019 → 2024
Total assets
€90k▼ 18.6%
2023 · €110k
2019: €44k
2020: €77k
2021: €28k
2022: €50k
2023: €110k
2019 → 2024
Net result
€-19k
2023 · €669
2019: €-36k
2020: €-4k
2021: €11k
2022: €29k
2023: €669
2019 → 2024
Working capital
€-8k
2023 · €5k
2019: €-32k
2020: €-33k
2021: €-21k
2022: €3k
2023: €5k
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-24k-€-13k▲ 44.7%€16k€16k▲ 4.3%€396▼ 97.6%
Operating result€-3k-€11k€30k▲ 173%€5k▼ 84.6%€-18k
Net result€-4k-€11k€29k▲ 169%€669▼ 97.7%€-19k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €18k after €5k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €90k
Fixed assets
€8k▼ 30.5%
Current assets
€82k▼ 17.2%
Equity and liabilities €90k
Equity
€396▼ 97.6%
Debt
€89k▼ 4.8%
The debt ratio rises from 85.1% to 99.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-14k▼
2023 · €9k
Cash flow
€-16k▼
2023 · €5k
Solvency
0.4%▼
2023 · 14.9%
Current ratio
0.91▼
2023 · 1.05
Quick ratio
0.64▼
2023 · 0.77
ROA
-21.4%▼
2023 · 0.6%
Interest coverage
-50.90▼
2023 · 21.41
Debt
€89k▼
2023 · €94k
Debt ≤ 1 year
€89k▼
2023 · €94k
Income taxes
€1k▼
2023 · €4k
Staff costs
€97k▼
2023 · €133k
Equity ratios withheld: equity of €396 is too small for a meaningful ratio.
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€110k€90k▼
Fixed assets21/28€12k€8k▼
Tangible fixed assets22/27€5k€2k▼
Plant, machinery and equipment23€4k€900▼
Furniture and vehicles24€1k€960▼
Financial fixed assets28€6k€6k=
Current assets29/58€99k€82k▼
Stocks and contracts in progress3€27k€25k▼
Stocks30/36€27k€25k▼
Amounts receivable within one year40/41€66k€20k▼
Trade receivables40€65k€18k▼
Other amounts receivable41€819€2k▲
Cash at bank and in hand54/58€6k€37k▲
Equity and liabilities
Total equity and liabilities10/49€110k€90k▼
Equity10/15€16k€396▼
Contributions10/11€15k€19k▲
Profit (loss) carried forward14€1k€-18k▼
Amounts payable17/49€94k€89k▼
Amounts payable within one year42/48€94k€89k▼
Trade debts44€40k€27k▼
Suppliers440/4€40k€27k▼
Taxes, remuneration and social security45€16k€15k▼
Taxes450/3€8k€6k▼
Remuneration and social security454/9€8k€9k▲
Other amounts payable47/48€37k€47k▲
Income statement
Code20232024
Remuneration, social security and pensions62€133k€97k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€2k-
Gross operating margin9900€144k€83k▼
Operating profit (loss)9901€5k€-18k▼
Financial charges65/66B€426€276▼
Recurring financial charges65€426€276▼
Profit (loss) for the period before taxes9903€4k€-18k▼
Income taxes67/77€4k€1k▼
Profit (loss) for the period9904€669€-19k▼
Profit (loss) for the period to be appropriated9905€669€-19k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1k€-18k▼
Profit (loss) brought forward from the previous period14P€348€1k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
11-06
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · SRL SMD TRADE RUE WAYEZ 93, 1070 ANDERLECHT · event 02-06-2025
2024
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 56 days late
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 268 days late
2022
31-12
Financial
Highest result since 2019net €29k ▲169%
Operating result €30k, net result €29k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.08
Current ratio from 0.49 to 1.08; short-term debt falls from €42k to €35k.
10-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 71 days late
2021
31-12
Financial
Back to profitnet €11k
Net result €11k after 2 loss-making years.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 119 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Etterbeek · 1 establishment unit since 2018
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.
Steenweg op Waver 6031040 EtterbeekGround area
325 m²
Building footprint
312 m²
Volume, LiDAR
2,973 m³
2 parcels, Brussels · tallest building 18.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
MAAB & Cie
since 20182.275.390.960
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21001A0570/00G014 | Brussels | 168 m² | 1 · 174 m² | 18.6 m · 3 fl. |
| 21363B0417/00W007 | Brussels | 157 m² | 1 · 138 m² | 16.2 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ALAIN HENDERICKX RUE DE STASSART 48 BL C/6,
1050 IXELLES |
02-06-2025 → present |
Similar companies · same sector, comparable size
DULZURA
BE 0633.680.610
Leuven · Eq €442
PAPACENO
BE 0446.003.030
Deinze · Eq €333
PROAGGI
BE 0465.701.849
La Louvière · Eq €292
DELI EEKLO
BE 0461.635.074
Eeklo · Eq €537
POMÉ
BE 0803.121.792
Sint-Gillis (bij-Brussel) · Eq €264
Of 2,407 companies in sector 47241 we hold annual accounts for 1,099. 63 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-04-2018
Fiscal year end31-12
Activities, NACEBEL
47241Retail sale of bread and pastry (bakery outlets)
10712Artisanal bread and fresh pastry making
10720Manufacture of food products
Sources
Crossroads Bank for EnterprisesNational Bank · 6 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.