StackGuardian
ActiveSummary
The annual accounts of StackGuardian for financial year 2025 show a net loss of 110% of the equity at the start of that year. The 2025 annual accounts show equity of €2.8m and a net result of -€1.4m. Equity is growing by about 68% per year across the filed financial years. Its solvency ranks better than 74% of 3,360 sector peers (NACE 62, financial year 2025). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €2.8m
- Loss
- -€1.4m
- Largest shareholder
- VOLTA VENTURES II · 12.96%
- LUCASSEN MichaelDirector
Why 56raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €1.4m, the second in a row (financial year 2025)lowers riskSize: total assets €3.8mSector: Computer programming, consultancy and related activities (NACE 62)Figures for financial year 2025 (filed 31-07-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, small): better than 84% on solvency, 69% on liquidity, 4% on profitability and 92% on growth.
The bankruptcy probability was computed on 09-10-2026 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
This company filed its last 3 accounts on average 7 days after the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Capital & shares · Amendment of…Capital increase · Capital
- Weakest financial yearnet -€1.4m
Financials · financial year 2025, abbreviated format
2023 to 2025, 3 financial years
The operating result stays negative: a loss of €1.4m in 2025 against €921,910 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 132 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 94% are still going.
- Small
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 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% | 1.8% |
| 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 132 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.2m | €0.3m | ▲ 80.1% |
| Other operating charges640/8 | €0.001m | €417 | €150 | ▼ 64.1% |
| Gross operating margin9900 | -€0.7m | -€0.7m | -€1.1m | ▼ 46.1% |
| Operating profit (loss)9901 | -€0.8m | -€0.9m | -€1.4m | ▼ 53.0% |
| Financial income75/76B | €301 | €0.006m | €0.009m | ▲ 56.5% |
| Recurring financial income75 | €301 | €0.006m | €0.009m | ▲ 56.5% |
| Financial charges65/66B | €0.002m | €0.03m | €0.03m | ▲ 20.2% |
| Recurring financial charges65 | €0.002m | €0.03m | €0.03m | ▲ 20.2% |
| Profit (loss) for the period before taxes9903 | -€0.8m | -€0.9m | -€1.4m | ▼ 52.0% |
| Income taxes67/77 | - | - | €0.002m | - |
| Profit (loss) for the period9904 | -€0.8m | -€0.9m | -€1.4m | ▼ 52.3% |
| Profit (loss) for the period to be appropriated9905 | -€0.8m | -€0.9m | -€1.4m | ▼ 52.3% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.2m | €2.5m | €3.8m | ▲ 51.0% |
| Fixed assets21/28 | €0.3m | €0.5m | €0.9m | ▲ 76.0% |
| Intangible fixed assets21 | €0.3m | €0.5m | €0.9m | ▲ 73.3% |
| Tangible fixed assets22/27 | €0.004m | €0.005m | €0.03m | ▲ 384% |
| Furniture and vehicles24 | €0.004m | €0.005m | €0.03m | ▲ 384% |
| Financial fixed assets28 | €0.003m | €0.004m | €0.004m | = |
| Current assets29/58 | €0.9m | €2.0m | €2.9m | ▲ 44.5% |
| Amounts receivable within one year40/41 | €0.06m | €0.6m | €0.1m | ▼ 84.4% |
| Trade receivables40 | €0.01m | €0.6m | €0.08m | ▼ 87.4% |
| Other amounts receivable41 | €0.04m | €0.002m | €0.02m | ▲ 1,070% |
| Current investments50/53 | - | €1.2m | €2.5m | ▲ 109% |
| Cash at bank and in hand54/58 | €0.9m | €0.2m | €0.2m | ▲ 34.5% |
| Deferred charges and accrued income490/1 | €0.02m | €0.02m | €0.07m | ▲ 267% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.2m | €2.5m | €3.8m | ▲ 51.0% |
| Equity10/15 | €1.0m | €1.3m | €2.8m | ▲ 116% |
| Contributions10/11 | €1.9m | €3.1m | €6.1m | ▲ 98.3% |
| Profit (loss) carried forward14 | -€0.8m | -€1.7m | -€3.2m | ▼ 85.5% |
| Amounts payable17/49 | €0.2m | €1.2m | €1.0m | ▼ 18.5% |
| Amounts payable after more than one year17 | - | €0.6m | €0.5m | ▼ 22.2% |
| Financial debts170/4 | - | €0.6m | €0.5m | ▼ 22.2% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.3m | ▲ 52.1% |
| Current portion of amounts payable after more than one year42 | - | €0.06m | €0.1m | ▲ 127% |
| Financial debts43 | €0.004m | €0.01m | €0.02m | ▲ 50.3% |
| Credit institutions430/8 | €0.004m | €0.01m | €0.02m | ▲ 50.3% |
| Trade debts44 | €0.1m | €0.05m | €0.1m | ▲ 127% |
| Suppliers440/4 | €0.1m | €0.05m | €0.1m | ▲ 127% |
| Taxes, remuneration and social security45 | - | €0.05m | €0 | ▼ 100% |
| Taxes450/3 | - | €0.05m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €0.001m | - |
| Accrued charges and deferred income492/3 | €0.08m | €0.4m | €0.3m | ▼ 40.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.8m | -€0.9m | -€1.4m | ▼ 52.3% |
| + Depreciation and write-downs630 | €0.07m | €0.2m | €0.3m | ▲ 80.1% |
| Operating cash flow (approximation) | -€0.7m | -€0.8m | -€1.1m | ▼ 45.3% |
| Investment in fixed assets (approximation) | - | -€0.4m | -€0.7m | ▼ 90.2% |
| Change in cash | - | -€0.7m | €0.06m | ▲ 108% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Similar companies · same sector, comparable size
Public contracts: not fully processed yet. The notices from February 2019 to September 2026 are still being read.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| LUCASSEN Michael |
|
Owners and capital
Owners
2 ownersOwners 2
-
12.96%
-
11.6%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 21-05-2026 Capital increase · 99,519 new shares · authentieke akte
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
21-05
Gazette deed
Capital & shares · Amendment of the articlesCapital increase · Capital3 facts ▸
- Capital increase
- Amendment of the articles, “Artikel 5” (deed in Dutch)
- Capital
22-09
Gazette deed
Appointment: LUCASSEN Michael (director)Share class · Bank account · Financial instrument9 facts ▸
- General meeting, “buitengewone algemene vergadering, alle aandeelhouders aanwezig of geldig vertegenwoordigd” (deed in Dutch)
- Share class, “Soort C Aandelen, created” (deed in Dutch)
- Bank account, “vennootschap” (deed in Dutch)
- Financial instrument, 15, “issue” (deed in Dutch)
- Financial instrument, 5, “issue” (deed in Dutch)
- Financial instrument, 105000, “issue” (deed in Dutch)
- Amendment of the articles (2 times)
- Director appointment, LUCASSEN Michael (director)
- Capital increase, €5,999,979.38
About the unread acts
Of the 7 Belgian Official Gazette acts we know for this company, 2 have been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 10 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12025C0760/00X000 | Flanders | 2,050 m² | 1 · 1,809 m² | - |
How the parcels are linked
Articles of association
- Who signsWho may bind the company towards others, for example by signing a contract.
- Two directors jointly
Read from the deeds: 1 provision, deed of 22-09-2025