SMERGEL
ActiveSummary
SMERGEL has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €134k and a net result of €75k. Equity is growing by ~111.3% per year across the filed fiscal years. Its solvency ranks better than 15% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▼-18
Solvency35▲+2
Growth78=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.36 against 0.05 in 2024; short-term debt: 36.2% and cash: 1.1% of total assets), and 90.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
9.6%
Return on assets
5.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 8692 sector peers (2025).
NBB · sector comparisonPosition among 8692 sector peers
Solvency
better than 15%
← weakest
strongest →
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 02-06-2026, 59 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
59 d early
2024
168 d early
2023
28 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, abbreviated schema
Equity
€134k▲ 126%
2024 · €59k
2023: €2klowest in 3 years
2024: €59k▲ +2933% vs 2023
2025: €134k▲ +126% vs 2024highest in 3 years
2023 → 2025
Total assets
€1.40M▲ 79.8%
2024 · €777k
2023: €41klowest in 3 years
2024: €777k▲ +1812% vs 2023
2025: €1.40M▲ +79.8% vs 2024highest in 3 years
2023 → 2025
Net result
€75k▲ 30.2%
2024 · €57k
2023: €-47lowest in 3 years
2024: €57k▲ +122626% vs 2023
2025: €75k▲ +30.2% vs 2024highest in 3 years
2023 → 2025
Working capital
€-323k▼ 75.4%
2024 · €-184k
2023: €-29khighest in 3 years
2024: €-184k▼ -530% vs 2023
2025: €-323k▼ -75.4% vs 2024lowest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€2k-€59k▲ 2,933%€134k▲ 126%
2023: €2klowest in 3 years
2024: €59k▲ +2933% vs 2023
2025: €134k▲ +126% vs 2024highest in 3 years
Operating result€915-€83k▲ 8,968%€108k▲ 30.7%
2023: €915lowest in 3 years
2024: €83k▲ +8968% vs 2023
2025: €108k▲ +30.7% vs 2024highest in 3 years
Net result€-47-€57k€75k▲ 30.2%
2023: €-47lowest in 3 years
2024: €57k▲ +122626% vs 2023
2025: €75k▲ +30.2% vs 2024highest in 3 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 31% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.40M
Fixed assets
€1.21M ▲ 58.4%
Current assets
€182k ▲ 1,730%
Equity and liabilities €1.40M
Equity
€134k ▲ 126%
Debt
€1.26M ▲ 76.0%
Debt's share of the balance-sheet total falls from 92.4% to 90.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€116k▲
2024 · €104k
Cash flow
€82k▲
2024 · €78k
Current ratio
0.36▲
2024 · 0.05
Debt to equity
9.44▼
2024 · 12.11
ROE
55.7%▼
2024 · 96.7%
ROA
5.3%▼
2024 · 7.4%
Interest coverage
4.11▼
2024 · 7.59
Debt ≤ 1 year
€506k▲
2024 · €194k
Debt > 1 year
€757k▲
2024 · €523k
Income taxes
€10k▼
2024 · €12k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€777k€1.40M▲
Fixed assets21/28€767k€1.21M▲
Tangible fixed assets22/27€362k€810k▲
Land and buildings22€169k€291k▲
Furniture and vehicles24€667€167▼
Assets under construction and advance payments27€192k€519k▲
Financial fixed assets28€405k€404k▼
Current assets29/58€10k€182k▲
Amounts receivable within one year40/41-€166k
Trade receivables40-€24k
Other amounts receivable41-€142k
Cash at bank and in hand54/58€9k€15k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€777k€1.40M▲
Equity10/15€59k€134k▲
Contributions10/11€2k€2k=
Reserves13€57k€132k▲
Distributable reserves133€57k€132k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€718k€1.26M▲
Amounts payable after more than one year17€523k€757k▲
Financial debts170/4€523k€757k▲
Amounts payable within one year42/48€194k€506k▲
Current portion of amounts payable after more than one year42€95k€91k▼
Trade debts44€2k€50k▲
Suppliers440/4€2k€50k▲
Taxes, remuneration and social security45€15k€25k▲
Taxes450/3€15k€24k▲
Remuneration and social security454/9€451€2k▲
Other amounts payable47/48€82k€340k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€7k▼
Other operating charges640/8€7k€1k▼
Gross operating margin9900€111k€117k▲
Operating profit (loss)9901€83k€108k▲
Financial income75/76B€0€6k▲
Recurring financial income75€0€5k▲
Non-recurring financial income76B-€552
Financial charges65/66B€14k€30k▲
Recurring financial charges65€14k€28k▲
Non-recurring financial charges66B-€2k
Profit (loss) for the period before taxes9903€69k€85k▲
Income taxes67/77€12k€10k▼
Profit (loss) for the period9904€57k€75k▲
Profit (loss) for the period to be appropriated9905€57k€75k▲
Appropriation of the result
Profit (loss) to be appropriated9906€57k€75k▲
Profit (loss) brought forward from the previous period14P€-47€0▲
Transfer to equity691/2€57k€75k▲
To other reserves6921€57k€75k▲
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €333 | €21k | €7k | ▼ 65.3% |
| Other operating charges640/8 | €259 | €7k | €1k | ▼ 80.7% |
| Gross operating margin9900 | €2k | €111k | €117k | ▲ 5.6% |
| Operating profit (loss)9901 | €915 | €83k | €108k | ▲ 30.7% |
| Financial income75/76B | €0 | €0 | €6k | ▲ 14,672,750% |
| Recurring financial income75 | €0 | €0 | €5k | ▲ 13,292,575% |
| Non-recurring financial income76B | - | - | €552 | - |
| Financial charges65/66B | €60 | €14k | €30k | ▲ 118% |
| Recurring financial charges65 | €60 | €14k | €28k | ▲ 106% |
| Non-recurring financial charges66B | - | - | €2k | - |
| Profit (loss) for the period before taxes9903 | €855 | €69k | €85k | ▲ 22.0% |
| Income taxes67/77 | €902 | €12k | €10k | ▼ 17.2% |
| Profit (loss) for the period9904 | €-47 | €57k | €75k | ▲ 30.2% |
| Profit (loss) for the period to be appropriated9905 | €-47 | €57k | €75k | ▲ 30.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €41k | €777k | €1.40M | ▲ 79.8% |
| Fixed assets21/28 | €31k | €767k | €1.21M | ▲ 58.4% |
| Tangible fixed assets22/27 | €1k | €362k | €810k | ▲ 124% |
| Land and buildings22 | - | €169k | €291k | ▲ 72.4% |
| Furniture and vehicles24 | €1k | €667 | €167 | ▼ 75.0% |
| Assets under construction and advance payments27 | - | €192k | €519k | ▲ 170% |
| Financial fixed assets28 | €30k | €405k | €404k | ▼ 0.3% |
| Current assets29/58 | €9k | €10k | €182k | ▲ 1,730% |
| Amounts receivable within one year40/41 | - | - | €166k | - |
| Trade receivables40 | - | - | €24k | - |
| Other amounts receivable41 | - | - | €142k | - |
| Cash at bank and in hand54/58 | €9k | €9k | €15k | ▲ 70.4% |
| Deferred charges and accrued income490/1 | €391 | €1k | €2k | ▲ 24.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €41k | €777k | €1.40M | ▲ 79.8% |
| Equity10/15 | €2k | €59k | €134k | ▲ 126% |
| Contributions10/11 | €2k | €2k | €2k | = |
| Reserves13 | - | €57k | €132k | ▲ 130% |
| Distributable reserves133 | - | €57k | €132k | ▲ 130% |
| Profit (loss) carried forward14 | €-47 | €0 | - | - |
| Amounts payable17/49 | €39k | €718k | €1.26M | ▲ 76.0% |
| Amounts payable after more than one year17 | - | €523k | €757k | ▲ 44.7% |
| Financial debts170/4 | - | €523k | €757k | ▲ 44.7% |
| Amounts payable within one year42/48 | €39k | €194k | €506k | ▲ 160% |
| Current portion of amounts payable after more than one year42 | - | €95k | €91k | ▼ 4.3% |
| Trade debts44 | €3k | €2k | €50k | ▲ 1,976% |
| Suppliers440/4 | €3k | €2k | €50k | ▲ 1,976% |
| Taxes, remuneration and social security45 | €3k | €15k | €25k | ▲ 64.2% |
| Taxes450/3 | €2k | €15k | €24k | ▲ 59.1% |
| Remuneration and social security454/9 | €818 | €451 | €2k | ▲ 233% |
| Other amounts payable47/48 | €33k | €82k | €340k | ▲ 317% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-47 | €57k | €75k | ▲ 30.2% |
| + Depreciation and write-downs630 | €333 | €21k | €7k | ▼ 65.3% |
| Operating cash flow (approximation) | €287 | €78k | €82k | ▲ 4.8% |
| Investment in fixed assets (approximation) | - | €-756k | €-455k | ▲ 39.9% |
| Change in cash | - | €-286 | €6k | ▲ 2,248% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2023net €75k ▲30.2%
Operating result €108k, net result €75k, both a record.
31-12
Financial
Equity above €100kEq €134k ▲126%
2 profitable years in a row build equity to €134k.
13-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €57k
Net result €57k after one loss-making year.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
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, Laarne · 1 establishment unit since 2023
Ground area
1,624 m²
Building footprint
127 m²
Parcel 42010B0663/00G000, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SMERGEL
since 20232.341.738.366
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42010B0663/00G000 | Flanders | 1,624 m² | 1 · 127 m² | - |
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.
Similar companies · same sector, comparable size
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BE 0802.591.658
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HUMAN CAPITAL PARTNER
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,886 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
Founded09-02-2023
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.