Equity
Equity fell by 77% in 2 years.
Equity fell by 77% in 2 years.
Of this, €658,657 falls due within a year.
Four of the last ten came late. The 2017 accounts came latest: 145 days after the end of the period.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 24% of them on solvency, 40% on liquidity, 42% on profitability and 63% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,609 companies had the same profile as SOLUMATIC has now. Each dot stands for 7 companies, two years later.
That fits the bankruptcy probability of SOLUMATIC itself: < 0.1% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,609 companies, not a prediction for SOLUMATIC. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.58 (0.55 in 2025), below 1. Short-term debt is 77.6% and cash 38.1% of total assets. 77.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 10 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SOLUMATIC Bruges | €848,252 | €120,858 | 22.3% | - |
| LODE DECLERCK Roeselare | €965,593 | €121,054 | 7.2% | - |
| OCTARINE Turnhout | €932,959 | €117,054 | 20.0% | - |
| ELYS IMMO Etalle | €751,636 | €125,490 | 9.4% | - |
| Whiteforge Etterbeek | €900,949 | €108,301 | 92.5% | - |
| CREATIVE GEOSENSING Yvoir | €777,004 | €143,184 | 53.8% | - |
| ATLAS Neuroengineering Leuven | €897,749 | €115,470 | 67.2% | - |
These companies have the same main activity as SOLUMATIC: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €752,000 and €966,000, founded between 2012 and 2015.
SOLUMATIC files the micro format. That format states no turnover. The gross margin rose from €102,532 in 2015 to €120,858 in 2026.
The balance sheet grew most from 2016 to 2018 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €240,000. Estimated: probably between €190,000 and €310,000.
Higher than 21% of 11,794 companies in 2025.
Higher than 9% of 11,521 companies in 2025.
Higher than 41% of 11,605 companies in 2025.
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||
20/58 |
848,252 | 861,841 | 868,270 | 867,151 | 961,527 | 823,564 | 713,423 | 645,192 | 601,553 | 511,519 | 459,353 | 147,386 | |
21/28 |
466,423 | 478,816 | 472,116 | 489,866 | 422,362 | 412,045 | 392,638 | 402,878 | 403,315 | 409,881 | 345,764 | 17,927 | |
21 |
0 | - | - | - | - | - | - | - | 292 | 610 | 928 | 1,247 | |
22/27 |
466,423 | 478,816 | 472,116 | 489,866 | 422,362 | 412,045 | 392,638 | 402,878 | 403,023 | 409,271 | 344,835 | 16,680 | |
22 |
427,821 | 436,669 | 411,073 | 418,937 | 401,529 | 385,553 | 384,254 | 388,873 | 394,455 | 398,073 | 332,658 | - | |
24 |
38,603 | 42,147 | 60,266 | 70,152 | 20,057 | 25,715 | 7,607 | 13,228 | 7,791 | 11,198 | 12,177 | 16,680 | |
26 |
- | 0 | 777 | 777 | 777 | 777 | 777 | 777 | 777 | - | - | - | |
29/58 |
381,829 | 383,025 | 396,155 | 377,285 | 539,165 | 411,519 | 320,784 | 242,314 | 198,238 | 101,638 | 113,589 | 129,460 | |
40/41 |
22,019 | 9,739 | 18,497 | 39,427 | 82,532 | 52,777 | 20,634 | 6,444 | 42,726 | 19,568 | 34,469 | 48,953 | |
40 |
17,855 | 9,739 | 17,948 | 39,216 | 82,381 | 51,914 | 20,315 | 6,050 | 41,407 | 19,240 | 34,295 | 47,184 | |
41 |
4,164 | 0 | 550 | 211 | 151 | 863 | 319 | 394 | 1,319 | 328 | 173 | 1,768 | |
50/53 |
20,639 | 20,639 | 20,485 | 20,418 | 20,418 | 16,000 | - | - | - | - | - | - | |
54/58 |
322,769 | 322,142 | 353,932 | 315,092 | 434,357 | 340,549 | 297,605 | 232,985 | 155,512 | 82,070 | 79,120 | 79,856 | |
490/1 |
16,402 | 30,505 | 3,241 | 2,349 | 1,858 | 2,193 | 2,546 | 2,885 | - | - | - | 652 | |
| Balance sheet: equity and liabilities | |||||||||||||
10/49 |
848,252 | 861,841 | 868,270 | 867,151 | 961,527 | 823,564 | 713,423 | 645,192 | 601,553 | 511,519 | 459,353 | 147,386 | |
10/15 |
188,959 | 163,521 | 831,841 | 796,196 | 686,920 | 547,904 | 418,034 | 332,925 | 254,391 | 162,897 | 95,667 | 64,408 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | - | 6,200 | 6,200 | |
13 |
170,359 | 144,921 | 813,241 | 777,596 | 668,320 | 529,304 | 399,434 | 314,325 | 235,791 | 144,297 | 83,267 | 52,008 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | - | 1,860 | - | - | - | - | - | |
132 |
- | - | 28,684 | 28,684 | 28,684 | 28,684 | 28,684 | 47,434 | 53,130 | 34,380 | 15,630 | - | |
133 |
170,359 | 144,921 | 784,557 | 747,052 | 637,776 | 498,760 | 368,889 | 265,030 | 180,802 | 108,058 | 65,778 | 50,148 | |
17/49 |
659,292 | 698,319 | 36,429 | 70,956 | 274,607 | 275,660 | 295,389 | 312,267 | 347,162 | 348,622 | 363,685 | 82,978 | |
17 |
- | - | - | - | 167,750 | 188,083 | 208,417 | 228,750 | 249,083 | 269,417 | 289,750 | 5,317 | |
170/4 |
- | - | - | - | 167,750 | 188,083 | 208,417 | 228,750 | 249,083 | 269,417 | 289,750 | 5,317 | |
42/48 |
658,657 | 698,264 | 36,429 | 70,956 | 106,857 | 87,311 | 86,744 | 83,517 | 98,078 | 79,205 | 73,935 | 77,662 | |
42 |
- | - | - | - | 20,333 | 20,333 | 20,333 | 20,333 | 20,333 | 20,333 | 20,567 | 6,965 | |
43 |
- | - | - | - | - | 1 | 1 | 1 | - | - | - | - | |
430/8 |
- | - | - | - | - | 1 | 1 | 1 | - | - | - | - | |
44 |
4,751 | 7,916 | 1,066 | 136 | 1,978 | 6,987 | 1,352 | 1,815 | 1,509 | 4,289 | 597 | 4,028 | |
440/4 |
4,751 | 7,916 | 1,066 | 136 | 1,978 | 6,987 | 1,352 | 1,815 | 1,509 | 4,289 | 597 | 4,028 | |
45 |
6,058 | 20,193 | 17,607 | 49,825 | 61,055 | 37,577 | 40,585 | 31,025 | 39,635 | 22,188 | 14,317 | 25,918 | |
450/3 |
5,058 | 20,193 | 17,607 | 49,825 | 61,055 | 37,577 | 40,585 | 31,025 | 39,635 | 22,188 | 14,317 | 25,918 | |
454/9 |
1,000 | - | - | - | - | - | - | - | - | - | - | - | |
47/48 |
647,848 | 670,155 | 17,756 | 20,995 | 23,491 | 22,411 | 24,473 | 30,342 | 36,601 | 32,395 | 38,455 | 40,751 | |
492/3 |
635 | 55 | - | - | - | 266 | 228 | - | - | - | - | - | |
| Income statement | |||||||||||||
76A |
120,858 | - | - | - | - | 6,163 | - | 4,928 | - | - | - | 9,719 | |
9900 |
120,858 | 158,553 | 128,010 | 222,786 | 237,774 | 217,203 | 171,417 | 159,013 | 179,470 | 138,879 | 113,125 | 102,532 | |
630 |
32,895 | 32,491 | 30,828 | 30,633 | 15,018 | 8,561 | 11,310 | 14,893 | 11,512 | 13,487 | 42,819 | 5,782 | |
640/8 |
4,413 | 3,856 | 12,909 | 1,790 | 2,121 | 2,087 | 1,981 | 1,957 | 2,645 | 1,811 | 1,707 | 866 | |
66A |
- | - | - | - | - | - | - | - | - | 9,664 | - | - | |
9901 |
83,550 | 122,206 | 84,273 | 190,362 | 220,635 | 206,555 | 158,125 | 142,162 | 165,313 | 113,916 | 68,599 | 95,884 | |
75/76B |
1,321 | 2,304 | 803 | 86 | 599 | 2 | 1 | 0 | - | - | 2 | 14 | |
75 |
1,321 | 2,304 | 803 | 86 | 599 | 2 | 1 | 0 | - | - | 2 | 14 | |
65/66B |
13,200 | 18,915 | 324 | 945 | 1,164 | 1,569 | 2,007 | 2,206 | 2,472 | 1,996 | 672 | 192 | |
65 |
13,200 | 18,915 | 324 | 945 | 1,164 | 1,569 | 2,007 | 2,206 | 2,472 | 1,996 | 672 | 192 | |
9903 |
71,670 | 105,595 | 84,752 | 189,504 | 220,071 | 204,987 | 156,120 | 139,957 | 162,841 | 111,920 | 67,929 | 105,426 | |
67/77 |
21,232 | 38,278 | 16,107 | 47,228 | 45,055 | 39,117 | 35,011 | 25,424 | 35,347 | 20,890 | 6,670 | 23,417 | |
9904 |
50,438 | 67,317 | 68,645 | 142,276 | 175,016 | 165,871 | 121,109 | 114,533 | 127,494 | 91,030 | 61,259 | 82,008 | |
789 |
- | 28,684 | - | - | - | - | 18,750 | 5,695 | - | - | - | - | |
689 |
- | - | - | - | - | - | - | - | 18,750 | 18,750 | 15,630 | - | |
9905 |
50,438 | 96,001 | 68,645 | 142,276 | 175,016 | 165,871 | 139,859 | 120,229 | 108,744 | 72,280 | 45,630 | 82,008 | |
| Appropriation of the result | |||||||||||||
9906 |
50,438 | 96,001 | 68,645 | 142,276 | 175,016 | 165,871 | 139,859 | 120,229 | 108,744 | 72,280 | 45,630 | 82,008 | |
791/2 |
- | 639,636 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
25,438 | - | 35,645 | 109,276 | 139,016 | 129,871 | 103,859 | 84,229 | 72,744 | 42,280 | 15,630 | 52,008 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
25,438 | - | 35,645 | 109,276 | 139,016 | 129,871 | 103,859 | 84,229 | 72,744 | 42,280 | 15,630 | 50,148 | |
694/7 |
25,000 | 735,637 | 33,000 | 33,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 30,000 | 30,000 | 30,000 | |
694 |
25,000 | 735,637 | - | - | - | - | - | - | - | - | - | - | |
695 |
- | - | 33,000 | 33,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 30,000 | 30,000 | 30,000 | |
| Document | |||||||||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2026 at the NBB, filed on 28-10-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2026 | micro format | 28-10-2026 | 2026-00570737 | |
| 30-06-2025 | micro format | 05-01-2026 | 2026-00001080 | |
| 30-06-2024 | micro format | 28-02-2025 | 2025-00042348 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00011166 | |
| 30-06-2022 | abbreviated format | 30-01-2023 | 2023-00016224 | |
| 30-06-2021 | micro format | 28-01-2022 | 2022-02600280 | |
| 30-06-2020 | micro format | 26-02-2021 | 2021-06500071 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-03500324 | |
| 30-06-2018 | micro format | 28-02-2019 | 2019-06000413 | |
| 30-06-2017 | micro format | 25-06-2018 | 2018-22100213 | |
| 30-06-2016 | abbreviated format | 27-02-2017 | 2017-05300318 | |
| 30-06-2015 | abbreviated format | 25-01-2016 | 2016-02600241 |
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 116,445 | 154,698 | 115,100 | 220,995 | 235,653 | 215,116 | 169,436 | 157,056 | 176,825 | 127,404 | 111,418 | 101,666 | ||
| 83,333 | 99,808 | 99,473 | 172,909 | 190,034 | 174,431 | 132,419 | 129,427 | 139,006 | 104,517 | 104,078 | 87,790 | ||
| 21,180 | 42,039 | 13,077 | 98,137 | 25,335 | 34,821 | 1,071 | 20,152 | 4,945 | 88,770 | 370,656 | 33,709 | ||
| 627 | -31,790 | 38,840 | -119,265 | 93,809 | 42,944 | 64,619 | 77,473 | 73,442 | 2,950 | -735 | - | ||
| -276,829 | -315,239 | 359,726 | 306,329 | 432,308 | 324,208 | 234,040 | 158,797 | 100,160 | 22,433 | 39,654 | 51,798 | ||
| 22.3% | 19.0% | 95.8% | 91.8% | 71.4% | 66.5% | 58.6% | 51.6% | 42.3% | 31.8% | 20.8% | 43.7% | ||
| 0.58 | 0.55 | 10.87 | 5.32 | 5.05 | 4.71 | 3.70 | 2.90 | 2.02 | 1.28 | 1.54 | 1.67 | ||
| 3.49 | 4.27 | 0.04 | 0.09 | 0.40 | 0.50 | 0.71 | 0.94 | 1.36 | 2.14 | 3.80 | 1.29 | ||
| 26.7% | 41.2% | 8.3% | 17.9% | 25.5% | 30.3% | 29.0% | 34.4% | 50.1% | 55.9% | 64.0% | 127.3% | ||
| 5.9% | 7.8% | 7.9% | 16.4% | 18.2% | 20.1% | 17.0% | 17.8% | 21.2% | 17.8% | 13.3% | 55.6% | ||
| 8.82 | 8.18 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-06-2026 | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|---|
| Tangible fixed assets | €21,180 | €42,039 | €13,077 | €98,137 | €25,335 |
| €32,895 | €32,491 | €30,828 | €30,633 | €15,018 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
The operating result for 2026 is 32% lower than in 2025 and the lowest since 2016.
Debt's share of the balance-sheet total falls from 81.0% to 77.7%. Equity is higher and debt is lower.
SOLUMATIC has no parent and no holdings in its annual accounts. Johan VERHUE is the only director. SOLUMATIC shares no director with another company.
Deadline for the 2027 accounts: 31-01-2028
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Pestelstraat 4 registered office 8200 Bruges 7112101 Engineering and related technical consultancy, excluding land surveyors | 18-07-2014 | 2.233.037.196 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31425C0128/00W000 | 580 m² | 1 · 106 m² | 7.2 m · 2 |
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