Checked.be
Active
BE 0453.783.222Public limited company
Software Development
Rabotstraat 60 ·9000 Gent, Belgium· 31 yrs active
Sector: Computer programming
(62100)
Conclusion
Software Development has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €91k and a net result of €-17k. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 51% of 2591 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €91k |
| Net result | €-17k |
| Better than sector | 51% |
| Active | 31 yrs |
Financial profile
41
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
15
Profitability
0
Solvency
59
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1994, 31 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
15
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
25
2021
57
2022
56
2023
33
2024
15
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.38 (< 1.0)
-10
Quick ratio
Quick ratio 0.38 (< 0.6)
-5
Leverage
Debt/equity 1.12 (< 2.0)
+3
Profitability
Negatieve ROE -18%
-10
Interest coverage
Interest coverage -8.7× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-02-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 5 fiscal years (±1.3%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 47.3% | 46.0% | |
| Net result | €-17k | €24k | |
| Equity | €91k | €141k | |
| Gross operating margin | €-5k | €90k | |
| Total assets | €192k | €397k |
€-9k
-
21-25
€-17k
-607.0%
21-25
€-10k
-
21-25
€192k
-12.2%
21-25
€91k
-15.6%
21-25
€-63k
-19.4%
21-25
€560
-43.0%
21-25
€101k
-8.9%
21-25
€101k
-8.9%
21-25
0.38
-28.0%
21-25
0.38
-28.0%
21-25
47.3%
-3.9%
21-25
1.12
+8.0%
21-25
-18.5%
-737.7%
21-25
-8.7%
-704.9%
21-25
-8.75
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €-9k | €4k | €8k | €11k | €11k |
| Net profit | €-17k | €-2k | €1k | €3k | €-592 |
| Cash flow | €-10k | €4k | €7k | €9k | €4k |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | €560 | €982 | - |
| Dividends | - | - | - | - | - |
| Total assets | €192k | €219k | €214k | €237k | €195k |
| Equity | €91k | €108k | €110k | €109k | €106k |
| Debt | €101k | €111k | €104k | €128k | €90k |
| of which ≤ 1y | €101k | €111k | €104k | €128k | €90k |
| of which > 1y | - | - | - | - | - |
| Working capital | €-63k | €-53k | €-55k | €-63k | €-67k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.38 | 0.53 | 0.47 | 0.51 | 0.26 |
| Quick ratio | 0.38 | 0.53 | 0.47 | 0.51 | 0.26 |
| Working capital ratio | -32.8% | -24.1% | -25.9% | -26.5% | -34.2% |
| Solvency | 47.3% | 49.2% | 51.5% | 45.9% | 54.0% |
| Debt / equity | 1.12 | 1.03 | 0.94 | 1.18 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | -8.75 | 23.62 | 26.52 | 9.19 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -8.7% | -1.1% | 0.6% | 1.3% | -0.3% |
| ROE | -18.5% | -2.2% | 1.2% | 2.9% | -0.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €192k | €219k | €214k | €237k | €195k |
| Fixed assets | 21/28 | €154k | €161k | €166k | €172k | €172k |
| Tangible fixed assets | 22/27 | €43k | €50k | €55k | €61k | €62k |
| Financial fixed assets | 28 | €111k | €111k | €111k | €111k | €111k |
| Current assets | 29/58 | €38k | €58k | €48k | €65k | €23k |
| Amounts receivable within one year | 40/41 | €33k | €55k | €21k | €38k | €16k |
| Cash & bank | 54/58 | €6k | €4k | €27k | €28k | €7k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €192k | €219k | €214k | €237k | €195k |
| Equity | 10/15 | €91k | €108k | €110k | €109k | €106k |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €62k | €62k |
| Reserves | 13 | €45k | €45k | €45k | €44k | €44k |
| Accumulated profits (losses) | 14 | €-16k | €1k | €4k | €2k | €-592 |
| Amounts payable | 17/49 | €101k | €111k | €104k | €128k | €90k |
| Amounts payable within one year | 42/48 | €101k | €111k | €104k | €128k | €90k |
| Trade debts payable within one year | 44 | €13k | €26k | €22k | €46k | €7k |
| Income statement | ||||||
| Gross operating margin | 9900 | €-5k | €9k | €13k | €15k | €15k |
| Operating result | 9901 | €-16k | €-2k | €2k | €5k | €6k |
| Financial income | 75 | €0 | - | - | - | €0 |
| Financial charges | 65 | €1k | €179 | €314 | €1k | €487 |
| Result before taxes | 9903 | €-17k | €-2k | €2k | €4k | €6k |
| Income taxes | 67/77 | - | - | €560 | €982 | - |
| Net result for the period | 9904 | €-17k | €-2k | €1k | €3k | €6k |
| Result to be appropriated | 9905 | €-17k | €-2k | €1k | €3k | €6k |
Legal Structure
| NACE primary | Computer programming(62100) |
| Legal form | Public limited company(014) |
| Incorporation | 07-11-1994 |
| Status | Active |
| Postal code | 9000 |
Establishment units
Rabotstraat 60, 9000 Gent
since 19952.070.727.888
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44815F3608/00T000 | Flanders | 429 m² | 1 · 400 m² | 16.2 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Updates
Next filing, fiscal year 2026, expected by
2026
09-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 9 days late
2025
30-06
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series.
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
08-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 8 days late
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
10-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Computer programming, consultancy and related activities62010Computer programming6210072220Other information technology and computer services629007250072600Repair and maintenance of computers and communication equipment95100Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles95110
Names & trade names
| Legal nameNL | Software Development |
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