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Source Automation Belgium

Active
Private limited companyfounded 2012active for 14 yearsRoger Vandendriesschelaan 18, 1150 Sint-Pieters-Woluwe, Belgium30 active companies are registered at this addressKBO/BCE: BE 0845.858.707
Summary

Source Automation Belgium has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.2m and a net result of €234,989. Equity is growing by about 7.6% per year across the filed financial years. Its solvency ranks better than 19% of 288 sector peers (NACE 78, financial year 2024). The computed 12-month bankruptcy probability is 1.1% (low).

Overview

Activity
Employment placement agencies
NACE 78100
4th largest company by total assets in the Brussels-Capital Region, Employment activities sector1 site
Size
€78.8mturnover 2024
Staff
8.2 FTE
Equity
€1.2m
Profit
€234,989
Financial health
55 Fair Checked score 2024
Bankruptcy probabilitywithin 12 months
1.1%
Structure
Parent
HeadFirst Source Holding BV
Accounts 76 days overdue3 of 18 deeds read
Why 55raises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed 14-10-2025)1 financial year not filed after the legal deadline; latest accounts 70 days late; 2 of the last 3 latelowers riskLiquidity: current ratio 1.08, cash €7.7mFounded in 2012Show the evidence

Checked score

Score 2024
55 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 37% of its sector peers (NACE 78, micro)
A confirmed filing finding caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2023
Average
Solvency 32+3
equity 6.6% of total assets
Liquidity 50+50
short-term debt 92.1% · cash 43.2%
Profitability 54+22
return on assets 1.3%
Bankruptcy probability, 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (1,372 companies, NACE 78, micro)
Last 24 months 11-2024: 2.3% 12-2024: 2.3%● unchanged vs 11-2024 01-2025: 2.3%● unchanged vs 12-2024 02-2025: 2.2%▼ -0.1 percentage points vs 01-2025 03-2025: 2.2%● unchanged vs 02-2025 04-2025: 2.1%▼ -0.1 percentage points vs 03-2025 05-2025: 2.2%▲ +0.1 percentage points vs 04-2025 06-2025: 2.2%● unchanged vs 05-2025 07-2025: 2.6%▲ +0.4 percentage points vs 06-2025 08-2025: 3.5%▲ +0.9 percentage points vs 07-2025 09-2025: 4.0%▲ +0.5 percentage points vs 08-2025 10-2025: 5.5%▲ +1.5 percentage points vs 09-2025highest value 11-2025: 0.5%▼ -5.0 percentage points vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026lowest value 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.6%▲ +0.1 percentage points vs 06-2026 08-2026: 0.8%▲ +0.2 percentage points vs 07-2026 09-2026: 0.9%▲ +0.1 percentage points vs 08-2026 10-2026: 1.1%▲ +0.2 percentage points vs 09-2026
Credit of up to €65,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity tight (current ratio 1.08, compared with 1.05 in 2023, below the usual 1.5; short-term debt: 92.1% and cash: 43.2% of total assets), and 93.4% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 78, micro): better than 22% on solvency, 38% on liquidity, 33% on profitability and 56% on growth.

The bankruptcy probability was computed on 14-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
lowers riskraises riskneutral
raises risk · Figures for financial year 2024 (filed 14-10-2025)
NBB · annual accounts
lowers risk · Liquidity: current ratio 1.08, cash €7.7m
NBB · annual accounts
lowers risk · Founded in 2012
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · 1 financial year not filed after the legal deadline; latest accounts 70 days late; 2 of the last 3 late
NBB · filings
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 288 sector peers (2024).
NBB · sector comparison
Position among 288 sector peers
Solvency
better than 19%
← weakest strongest →
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 76 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline15-10-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-10-2025, 70 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
70 days late
2023
on the day
2022
84 days late
2021
148 days late
2020
24 days early
2019
67 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 58 days after the deadline; the sector median (NACE 78) for financial year 2024 is 14 days before the deadline, and 30% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignation: Wilhelm Verhaagen (day-to-day manager)Power of attorney
  2. Resignation: Adriaan Elsman (day-to-day manager)Appointment: Willem Verhaagen (day-to-day manager)
  3. Annual accounts filedfinancial year 2024 · full…

Key points

  • Caution: Accounts not fileddeadline was 31-07-2026 76 days late View
  • Caution: Among the weakest 20% on solvencysector median 32.4% · 288 companies 6.6% View
  • Board changedlatest change 24-09-2026 · 0 in office 1 joined · 2 left View
  • Controlled by HeadFirst Source Holding BV parent View
  • Positive: 3 years of growth in a rowturnover 2024: €78.8m 3 years View
  • Caution: Result fell in 2024from €327,660 to €234,989 ▼ 28.3% View

By topic

Financials

Financial year
2024
Turnover
€78.8m
Profit
€234,989
Solvency
6.6%
Turnover▲ 0.7%
Net result
20182024
Go to Financials

Timeline

Events
19
Since
2014
  1. 07-07-2025Resignation: Johan Kolff (director)
  2. 31-12-2024Equity above €1m
  3. 31-07-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Employment placement agenciesNACE 78100
Founded
10-05-2012
Year ends
31-12
Peppol
Not found in the Peppol directory
Go to Company details

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