Solar Switch
ActiveSummary
The computed 12-month bankruptcy probability of Solar Switch is 2.5% (moderate). The 2025 annual accounts show equity of €418,503 and a net result of -€15,381. Equity is shrinking by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 28184 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability28▲+23
Solvency100=
Growth32=
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
short-term debt: 0.9% and cash: 79% of total assets, and 0.9% of the assets are financed with debt.
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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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
99.1%
Return on assets
-3.6%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
232425
2023 to 2025 · latest year -€15,381
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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 · 3 filingsDeviation from the deadline
2025
29 d late
2024
29 d late
2023
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 29 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 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 trust this company with building work?Contractor check 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 What other support did companies like this one receive, and it did not?Public money
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€418,503▼ 3.5%
2024 · €433,884
Total assets
€422,255▼ 5.1%
2024 · €445,134
Net result
-€15,381▲ 69.1%
2024 · -€49,752
Working capital
€412,436▼ 3.2%
2024 · €426,250
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line202320242025
Operating result€29,898--€49,751-€15,554▲ 68.7%
Net result€23,636within the sector's middle half--€49,752below the sector's middle half-€15,381below the sector's middle half▲ 69.1%
Equity€483,636above the sector's middle half-€433,884above the sector's middle half▼ 10.3%€418,503above the sector's middle half▼ 3.5%
Total assets€502,902above the sector's middle half-€445,134above the sector's middle half▼ 11.5%€422,255above the sector's middle half▼ 5.1%
Debt€19,266-€11,250▼ 41.6%€3,752▼ 66.6%
Working capital€474,435-€426,250▼ 10.2%€412,436▼ 3.2%
Solvency96.2%above the sector's middle half-97.5%above the sector's middle half▲ 1.3pp99.1%above the sector's middle half▲ 1.6pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 stays negative: a loss of €15,554 in 2025 against €49,751 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €422,255
Fixed assets
€6,067 ▼ 20.5%
Current assets
€416,188 ▼ 4.9%
Equity and liabilities €422,255
Equity
€418,503 ▼ 3.5%
Debt
€3,752 ▼ 66.6%
Debt's share of the balance-sheet total falls from 2.5% to 0.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€13,987▲
2024 · -€48,184
Cash flow
-€13,814▲
2024 · -€48,185
Quick ratio
94.06▲
2024 · 29.43
Debt to equity
0.01▼
2024 · 0.03
ROE
-3.7%▲
2024 · -11.5%
ROA
-3.6%▲
2024 · -11.2%
Interest coverage
80.98▲
2024 · -293.56
Debt ≤ 1 year
€3,752▼
2024 · €11,250
Income taxes
€0▲
2024 · -€162
A ratio outside any meaningful range has been withheld (balance sheet total €422,255, equity €418,503).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,151 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a small loss
2.1%
went bankrupt
5.9%
stopped otherwise
91%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,151 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €634 | €1,567 | €1,567 | = |
| Other operating charges640/8 | €732 | €1,330 | €528 | ▼ 60.3% |
| Gross operating margin9900 | €31,264 | -€46,854 | -€13,459 | ▲ 71.3% |
| Operating profit (loss)9901 | €29,898 | -€49,751 | -€15,554 | ▲ 68.7% |
| Financial income75/76B | - | €1 | €0 | ▼ 98.7% |
| Recurring financial income75 | - | €1 | €0 | ▼ 98.7% |
| Financial charges65/66B | €262 | €164 | -€173 | ▼ 205% |
| Recurring financial charges65 | €262 | €164 | -€173 | ▼ 205% |
| Profit (loss) for the period before taxes9903 | €29,636 | -€49,915 | -€15,381 | ▲ 69.2% |
| Income taxes67/77 | €6,000 | -€162 | €0 | ▲ 100% |
| Profit (loss) for the period9904 | €23,636 | -€49,752 | -€15,381 | ▲ 69.1% |
| Profit (loss) for the period to be appropriated9905 | €23,636 | -€49,752 | -€15,381 | ▲ 69.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €502,902 | €445,134 | €422,255 | ▼ 5.1% |
| Fixed assets21/28 | €9,201 | €7,634 | €6,067 | ▼ 20.5% |
| Tangible fixed assets22/27 | €7,201 | €5,634 | €4,067 | ▼ 27.8% |
| Plant, machinery and equipment23 | €7,201 | €5,634 | €4,067 | ▼ 27.8% |
| Financial fixed assets28 | €2,000 | €2,000 | €2,000 | = |
| Current assets29/58 | €493,701 | €437,500 | €416,188 | ▼ 4.9% |
| Stocks and contracts in progress3 | €192,071 | €106,452 | €63,247 | ▼ 40.6% |
| Stocks30/36 | €192,071 | €106,452 | €63,247 | ▼ 40.6% |
| Amounts receivable within one year40/41 | €41,640 | €11,448 | €19,566 | ▲ 70.9% |
| Trade receivables40 | €41,640 | €4,229 | €19,566 | ▲ 363% |
| Other amounts receivable41 | - | €7,219 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €259,722 | €318,122 | €333,376 | ▲ 4.8% |
| Deferred charges and accrued income490/1 | €269 | €1,478 | €0 | ▼ 100% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €502,902 | €445,134 | €422,255 | ▼ 5.1% |
| Equity10/15 | €483,636 | €433,884 | €418,503 | ▼ 3.5% |
| Contributions10/11 | €460,000 | €460,000 | €460,000 | = |
| Profit (loss) carried forward14 | €23,636 | -€26,116 | -€41,497 | ▼ 58.9% |
| Amounts payable17/49 | €19,266 | €11,250 | €3,752 | ▼ 66.6% |
| Amounts payable within one year42/48 | €19,266 | €11,250 | €3,752 | ▼ 66.6% |
| Trade debts44 | €16,451 | €11,177 | €588 | ▼ 94.7% |
| Suppliers440/4 | €16,451 | €11,177 | €588 | ▼ 94.7% |
| Taxes, remuneration and social security45 | €2,815 | €73 | €3,164 | ▲ 4,239% |
| Taxes450/3 | €2,815 | €73 | €3,164 | ▲ 4,239% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,636 | -€49,752 | -€15,381 | ▲ 69.1% |
| + Depreciation and write-downs630 | €634 | €1,567 | €1,567 | = |
| Operating cash flow (approximation) | €24,270 | -€48,185 | -€13,814 | ▲ 71.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €58,400 | €15,254 | ▼ 73.9% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
31-12
Financial
Liquidity triplescurrent ratio 110.92
Current ratio from 38.89 to 110.92; short-term debt falls from €11,250 to €3,752.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€49,752
Net result drops to -€49,752, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Kortrijk · 1 establishment unit since 2022
Ground area
353 m²
Building footprint
88 m²
Volume, LiDAR
11 m³
Parcel 34016A0562/00L009, Flanders · tallest building 0.2 m. Linked by address, not a title deed.
1 establishment unit
Solar Switch
since 20222.341.095.691
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34016A0562/00L009 | Flanders | 353 m² | 1 · 88 m² | 0.2 m |
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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 254 EUR awarded · 254 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 254 EUR | 254 EUR |
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 4,229 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
Founded23-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43211General electrical installation work
43410Roofing work
43421Specialised construction activities
82990Other business support services
Contact
E-mail
glenn_huysentruyt@hotmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0795364663
Also
9925:BE0795364663
Registered
26-02-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.