Software Maze Solutions
ActiveSummary
Software Maze Solutions has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5,000 and a net result of €11,010. Equity is shrinking by ~40.3% per year across the filed fiscal years. Its solvency ranks better than 18% of 1914 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency37▲+1
Growth32=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Five 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 63
Relative position
BE, all sectors
reference
Computing infrastructure, data processing, hosting and other information service activities (NACE 63)
about 52% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 1914 sector peers (2025).
NBB · sector comparisonPosition among 1914 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 5 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
28 d late
2022
28 d late
2021
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 22 days after the deadline; the sector median for financial year 2024 is 10 days before the deadline, and 32% of the sector filed late.
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. Usually files around 28 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€5,000=
2024 · €5,000
Total assets
€41,558▼ 5.6%
2024 · €44,026
Net result
€11,010▼ 42.5%
2024 · €19,164
Working capital
€5,000▲ 6.2%
2024 · €4,709
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 63, Computing infrastructure, data processing, hosting and other information service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€35,206-€14,821▼ 57.9%€45,207▲ 205%€22,153▼ 51.0%€17,170▼ 22.5%
Net result€27,999within the sector's middle half-€12,584within the sector's middle half▼ 55.1%€36,736within the sector's middle half▲ 192%€19,164within the sector's middle half▼ 47.8%€11,010within the sector's middle half▼ 42.5%
Equity€29,349within the sector's middle half-€41,933within the sector's middle half▲ 42.9%€5,000below the sector's middle half▼ 88.1%€5,000below the sector's middle half=€5,000below the sector's middle half=
Total assets€42,585below the sector's middle half-€66,397within the sector's middle half▲ 55.9%€108,706within the sector's middle half▲ 63.7%€44,026below the sector's middle half▼ 59.5%€41,558below the sector's middle half▼ 5.6%
Debt€13,236-€24,464▲ 84.8%€103,706▲ 324%€39,026▼ 62.4%€36,558▼ 6.3%
Working capital€15,341within the sector's middle half-€33,318within the sector's middle half▲ 117%€1,765below the sector's middle half▼ 94.7%€4,709within the sector's middle half▲ 167%€5,000within the sector's middle half▲ 6.2%
Solvency68.9%within the sector's middle half-63.2%within the sector's middle half▼ 5.8pp4.6%below the sector's middle half▼ 58.6pp11.4%below the sector's middle half▲ 6.8pp12.0%below the sector's middle half▲ 0.7pp
Current ratio2.16within the sector's middle half-2.36within the sector's middle half▲ 0.201.02below the sector's middle half▼ 1.341.12below the sector's middle half▲ 0.101.14within the sector's middle half▲ 0.02
Return on assets (ROA)65.7%above the sector's middle half-19.0%within the sector's middle half▼ 46.8pp33.8%above the sector's middle half▲ 14.8pp43.5%above the sector's middle half▲ 9.7pp26.5%within the sector's middle half▼ 17.0pp
above
within
below
the middle half (P25 to P75) of NACE 63, Computing infrastructure, data processing, hosting and other information service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 22% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €41,558
Equity
€5,000 =
Debt
€36,558 ▼ 6.3%
Debt's share of the balance-sheet total falls from 88.6% to 88.0%. Debt is lower.
Key figures and ratios
EBITDA
€17,461▼
2024 · €25,097
Cash flow
€11,301▼
2024 · €22,108
Debt to equity
7.31▼
2024 · 7.81
ROE
220.2%▼
2024 · 383.3%
Interest coverage
7.91▼
2024 · 75.16
Debt ≤ 1 year
€36,558▼
2024 · €39,026
Income taxes
€5,306▼
2024 · €5,991
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,713 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,713 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,954 | €5,393 | €5,380 | €2,944 | €291 | ▼ 90.1% |
| Other operating charges640/8 | €435 | €350 | €350 | €392 | €1,520 | ▲ 288% |
| Non-recurring operating charges66A | - | - | - | €15,696 | €0 | ▼ 100% |
| Gross operating margin9900 | €38,595 | €20,565 | €50,937 | €41,184 | €18,981 | ▼ 53.9% |
| Operating profit (loss)9901 | €35,206 | €14,821 | €45,207 | €22,153 | €17,170 | ▼ 22.5% |
| Financial income75/76B | €83 | €1,646 | €1,958 | €3,336 | €1,354 | ▼ 59.4% |
| Recurring financial income75 | €83 | €1,646 | €1,958 | €3,336 | €1,354 | ▼ 59.4% |
| Financial charges65/66B | €95 | €102 | €479 | €334 | €2,207 | ▲ 561% |
| Recurring financial charges65 | €95 | €102 | €479 | €334 | €2,207 | ▲ 561% |
| Profit (loss) for the period before taxes9903 | €35,194 | €16,365 | €46,686 | €25,155 | €16,317 | ▼ 35.1% |
| Income taxes67/77 | €7,195 | €3,781 | €9,951 | €5,991 | €5,306 | ▼ 11.4% |
| Profit (loss) for the period9904 | €27,999 | €12,584 | €36,736 | €19,164 | €11,010 | ▼ 42.5% |
| Profit (loss) for the period to be appropriated9905 | €27,999 | €12,584 | €36,736 | €19,164 | €11,010 | ▼ 42.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €42,585 | €66,397 | €108,706 | €44,026 | €41,558 | ▼ 5.6% |
| Formation expenses20 | €1,462 | €1,071 | €681 | €291 | €0 | ▼ 100% |
| Fixed assets21/28 | €12,546 | €7,543 | €2,554 | €0 | - | - |
| Tangible fixed assets22/27 | €12,546 | €7,543 | €2,554 | €0 | - | - |
| Furniture and vehicles24 | €12,546 | €7,543 | €2,554 | €0 | - | - |
| Current assets29/58 | €28,578 | €57,783 | €105,471 | €43,735 | €41,558 | ▼ 5.0% |
| Amounts receivable within one year40/41 | €13,232 | €52,931 | €83,702 | €20,882 | €34,802 | ▲ 66.7% |
| Trade receivables40 | €10,500 | €9,381 | €14,135 | €0 | €16,093 | - |
| Other amounts receivable41 | €2,732 | €43,550 | €69,567 | €20,882 | €18,709 | ▼ 10.4% |
| Cash at bank and in hand54/58 | €15,263 | €2,640 | €19,178 | €18,840 | €2,528 | ▼ 86.6% |
| Deferred charges and accrued income490/1 | €83 | €2,212 | €2,591 | €4,013 | €4,228 | ▲ 5.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €42,585 | €66,397 | €108,706 | €44,026 | €41,558 | ▼ 5.6% |
| Equity10/15 | €29,349 | €41,933 | €5,000 | €5,000 | €5,000 | = |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €24,349 | €36,933 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €13,236 | €24,464 | €103,706 | €39,026 | €36,558 | ▼ 6.3% |
| Amounts payable within one year42/48 | €13,236 | €24,464 | €103,706 | €39,026 | €36,558 | ▼ 6.3% |
| Trade debts44 | €2,391 | €4,865 | €3,964 | €3,074 | €9,115 | ▲ 197% |
| Suppliers440/4 | €2,391 | €4,865 | €3,964 | €3,074 | €9,115 | ▲ 197% |
| Taxes, remuneration and social security45 | €7,195 | €19,600 | €26,073 | €35,952 | €27,443 | ▼ 23.7% |
| Taxes450/3 | €7,195 | €16,600 | €26,073 | €35,952 | €27,443 | ▼ 23.7% |
| Remuneration and social security454/9 | - | €3,000 | €0 | - | - | - |
| Other amounts payable47/48 | €3,650 | €0 | €73,668 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,999 | €12,584 | €36,736 | €19,164 | €11,010 | ▼ 42.5% |
| + Depreciation and write-downs630 | €2,954 | €5,393 | €5,380 | €2,944 | €291 | ▼ 90.1% |
| Operating cash flow (approximation) | €30,953 | €17,977 | €42,115 | €22,108 | €11,301 | ▼ 48.9% |
| Investment in fixed assets (approximation) | - | -€390 | -€390 | -€390 | - | - |
| Change in cash | - | -€12,623 | €16,538 | -€338 | -€16,313 | ▼ 4,728% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €11,010 ▼42.5%
Net result drops to €11,010, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Highest result since 2021net €36,736 ▲192%
Operating result €45,207, net result €36,736, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro 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, Herstal · 1 establishment unit since 2020
Ground area
291 m²
Building footprint
45 m²
Volume, LiDAR
410 m³
Parcel 62051C0885/00L000, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Software Maze Solutions
since 20202.308.600.592
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62051C0885/00L000 | Wallonia | 291 m² | 1 · 45 m² | 10.2 m · 3 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 2,783 companies in sector 63910 we hold annual accounts for 699. 314 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
Founded01-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
63910Web portal activities
62100Computer programming
62200Computer consultancy and computer facilities management
63100Computing infrastructure, data processing, hosting and related activities
63920Other information service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0755493408
Also
9925:BE0755493408
Registered
13-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.