SupplyStack
ActiveSummary
The computed 12-month bankruptcy probability of SupplyStack is 2.3% (moderate). The 2024 annual accounts show negative equity (-€2.7m) and a net result of -€4.8m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 2,802 sector peers (NACE 62, financial year 2024). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Computer programming
NACE 62100
1 site
Size
€9.0mtotal assets 2024
- Staff
- 12.8 FTE
- Equity
- -€2.7m
- Loss
- -€4.8m
Turnover not published (abbreviated or micro format)
Why 51raises riskLoss of €4.8m, the second in a row (financial year 2024)1 change of registered office in 24 months1 financial year not filed after the legal deadline; latest accounts 50 days late; 2 of the last 3 latelowers riskSector: Computer programming, consultancy and related activities (NACE 62)Show the evidence
Checked score
Score 2024
51
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 20% of its sector peers (NACE 62, small)
Financial strength · tick = 2023
Weak
Solvency
0-45
equity -30.1% of total assets
Liquidity
61+9
short-term debt 15.9% · cash 11.9%
Profitability
0-1
return on assets -53.1%
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.9%lowest value
12-2024: 1.9%▲ +1.0 percentage point vs 11-2024
01-2025: 1.9%● unchanged vs 12-2024
02-2025: 1.9%● unchanged vs 01-2025
03-2025: 1.9%● unchanged vs 02-2025
04-2025: 1.9%● unchanged vs 03-2025
05-2025: 1.9%● unchanged vs 04-2025
06-2025: 2.0%▲ +0.1 percentage points vs 05-2025
07-2025: 2.2%▲ +0.2 percentage points vs 06-2025
08-2025: 2.3%▲ +0.1 percentage points vs 07-2025
09-2025: 2.4%▲ +0.1 percentage points vs 08-2025
10-2025: 2.1%▼ -0.3 percentage points vs 09-2025
11-2025: 2.1%● unchanged vs 10-2025
12-2025: 2.1%● unchanged vs 11-2025
01-2026: 2.1%● unchanged vs 12-2025
02-2026: 2.1%● unchanged vs 01-2026
03-2026: 2.1%● unchanged vs 02-2026
04-2026: 2.1%● unchanged vs 03-2026
05-2026: 2.7%▲ +0.6 percentage points vs 04-2026
06-2026: 2.8%▲ +0.1 percentage points vs 05-2026
07-2026: 2.9%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 2.8%▼ -0.1 percentage points vs 07-2026
09-2026: 2.6%▼ -0.2 percentage points vs 08-2026
10-2026: 2.3%▼ -0.3 percentage points vs 09-2026
No credit on open account
Liquidity ample (current ratio 2.35, compared with 1.95 in 2023, above the usual 1.5; short-term debt: 15.9% and cash: 11.9% of total assets), but equity is negative.
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 2% on solvency, 74% on liquidity, 4% on profitability and 2% on growth.
The bankruptcy probability was computed on 13-10-2026 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).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€2.7m
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, 75 days later.
NBB · 10 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline14-10-2026 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 19-09-2025, 50 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 filingsDeviation from the deadline
2025
not filed
2024
50 days late
2023
96 days late
2022
27 days early
2021
46 days early
2020
40 days early
2019
45 days early
← 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 2 days before 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 (1)
- Registered office · Other addressesRegistered-office move · Power of…
- Annual accounts filedfinancial year 2024 · abbreviated…
- Resignation: ASTURION (director)Appointment: Olivier Buysse (director) ·…
Financials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 14 October 2026.
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€2.7m
2023 · €2.1m
Total assets
€9.0m▼ 15.2%
2023 · €10.6m
Net result
-€4.8m▼ 216%
2023 · -€1.5m
Working capital
€1.9m▲ 81.9%
2023 · €1.1m
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result stays negative: a loss of €4.5m in 2024 against €1.4m in 2023; the loss grows and 2024 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.
Operating result-€4.5m
2024
Net result-€4.8m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€9.0m
2024
Equity-€2.7m
2024
Debt€11.7m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1.9m
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-53.1%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-30.1%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.35
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)12.8
2024
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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€1.1m--€0.9m▲ 13.5%-€0.9m=-€0.6m▲ 38.8%€0.5m-€1.4m-€4.5m▼ 230%
Net result-€1.1m--€1.0m▲ 12.6%-€1.0m=-€0.9mbelow the sector's middle half▲ 6.0%€0.4mabove the sector's middle half-€1.5mbelow the sector's middle half-€4.8mbelow the sector's middle half▼ 216%
Equity€0.4m-€2.5m▲ 464%€3.9m▲ 57.9%€3.3mabove the sector's middle half▼ 16.2%€3.7mabove the sector's middle half▲ 12.1%€2.1mabove the sector's middle half▼ 42.4%-€2.7mbelow the sector's middle half
Total assets€2.2m-€3.2m▲ 45.8%€4.6m▲ 42.2%€5.7mabove the sector's middle half▲ 26.3%€7.9mabove the sector's middle half▲ 38.1%€10.6mabove the sector's middle half▲ 33.9%€9.0mabove the sector's middle half▼ 15.2%
Debt€1.8m-€0.7m▼ 58.8%€0.7m=€2.5m▲ 241%€4.3m▲ 72.6%€8.5m▲ 99.6%€11.7m▲ 37.7%
Working capital-€0.09m-€0.8m€0.9m▲ 23.7%€1.0mabove the sector's middle half▲ 2.4%€0.3mwithin the sector's middle half▼ 65.9%€1.1mabove the sector's middle half▲ 222%€1.9mabove the sector's middle half▲ 81.9%
Solvency20.0%-77.3%▲ 57.3pp85.9%▲ 8.5pp57.0%within the sector's middle half▼ 28.9pp46.3%within the sector's middle half▼ 10.7pp19.9%within the sector's middle half▼ 26.4pp-30.1%below the sector's middle half▼ 50.0pp
Current ratio0.94-2.75▲ 1.813.17▲ 0.412.52within the sector's middle half▼ 0.651.36within the sector's middle half▼ 1.161.95within the sector's middle half▲ 0.592.35within the sector's middle half▲ 0.40
Return on assets (ROA)-50.2%--30.1%▲ 20.1pp-21.1%▲ 8.9pp-15.7%below the sector's middle half▲ 5.4pp5.5%within the sector's middle half▲ 21.2pp-14.3%below the sector's middle half▼ 19.8pp-53.1%below the sector's middle half▼ 38.8pp
Staff (FTE)5.7-9.6▲ 68.4%11.1▲ 15.6%12.3within the sector's middle half▲ 10.8%11.9within the sector's middle half▼ 3.3%10within the sector's middle half▼ 16.0%12.8above the sector's middle half▲ 28.0%
above
within
below
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.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €9.0m
Fixed assets
€5.6m ▼ 33.1%
Current assets
€3.4m ▲ 54.1%
Equity and liabilities
Equity-€2.7m
Debt€11.7m
Equity is negative: debt (€11.7m) exceeds the balance-sheet total (€9.0m).
Key figures and ratios
EBITDA
-€1.6m▼
2023 · -€20,608
Cash flow
-€2.0m▼
2023 · -€185,887
Interest coverage
-4.38▼
2023 · -0.10
Debt ≤ 1 year
€1.4m▲
2023 · €1.1m
Debt > 1 year
€9.2m▲
2023 · €6.6m
Income taxes
€2,905▲
2023 · €2,110
Staff costs
€2.1m▲
2023 · €1.4m
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 598 companies that looked in July 2024 the way this one looks now, 9.4% went bankrupt within 24 months and 83.3% are still going.
- Small
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
9.4%
went bankrupt
6.0%
stopped otherwise
83.3%
still going
A further 1.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.3% 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 497,470 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 74.5% 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 598 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1.1m | €1.3m | €1.4m | €2.1m | ▲ 53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.2m | €0.5m | €0.8m | €1.2m | €1.3m | €2.8m | ▲ 111% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.08m | €0.09m | ▲ 11.2% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.03m | €0.001m | €0.002m | ▲ 162% |
| Non-recurring operating charges66A | - | - | - | €0.001m | - | €383 | - | - |
| Gross operating margin9900 | -€0.7m | €0.02m | €0.5m | €1.3m | €2.9m | €1.4m | €0.6m | ▼ 61.0% |
| Operating profit (loss)9901 | -€1.1m | -€0.9m | -€0.9m | -€0.6m | €0.5m | -€1.4m | -€4.5m | ▼ 230% |
| Financial income75/76B | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | ▲ 6.6% |
| Recurring financial income75 | €305 | €432 | €0.02m | €0.03m | €0.04m | €0.04m | €0.04m | ▲ 6.6% |
| Financial charges65/66B | - | - | - | €0.4m | €0.1m | €0.2m | €0.4m | ▲ 83.7% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.03m | €0.4m | €0.1m | €0.2m | €0.4m | ▲ 83.7% |
| Profit (loss) for the period before taxes9903 | -€1.1m | -€1.0m | -€1.0m | -€0.9m | €0.4m | -€1.5m | -€4.8m | ▼ 216% |
| Income taxes67/77 | €0.008m | €0.003m | €0.003m | €0.002m | €0.002m | €0.002m | €0.003m | ▲ 37.7% |
| Profit (loss) for the period9904 | -€1.1m | -€1.0m | -€1.0m | -€0.9m | €0.4m | -€1.5m | -€4.8m | ▼ 216% |
| Profit (loss) for the period to be appropriated9905 | -€1.1m | -€1.0m | -€1.0m | -€0.9m | €0.4m | -€1.5m | -€4.8m | ▼ 216% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.2m | €3.2m | €4.6m | €5.7m | €7.9m | €10.6m | €9.0m | ▼ 15.2% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €0.7m | €2.0m | €3.2m | €4.1m | €6.7m | €8.4m | €5.6m | ▼ 33.1% |
| Intangible fixed assets21 | €0.7m | €1.9m | €3.1m | €4.1m | €6.6m | €8.4m | €5.6m | ▼ 33.2% |
| Tangible fixed assets22/27 | €0.02m | €0.07m | €0.07m | €0.05m | €0.04m | €0.02m | €0.02m | ▼ 3.7% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.01m | €0.005m | €0.01m | ▲ 105% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.009m | €0.003m | - | - |
| Other tangible fixed assets26 | - | - | - | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 21.1% |
| Financial fixed assets28 | €0.004m | €0.006m | €0.006m | €0.003m | €0.006m | €0.006m | €0.006m | = |
| Current assets29/58 | €1.4m | €1.2m | €1.4m | €1.6m | €1.3m | €2.2m | €3.4m | ▲ 54.1% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.2m | €0.4m | €0.5m | €0.6m | €0.9m | €1.9m | €2.2m | ▲ 15.4% |
| Trade receivables40 | - | - | - | €0.5m | €0.8m | €1.9m | €2.2m | ▲ 19.3% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.09m | €0.07m | €0.01m | ▼ 82.7% |
| Current investments50/53 | €0 | €0 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.7m | €0.8m | €0.9m | €0.3m | €0.2m | €1.1m | ▲ 450% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.06m | €0.05m | €0.06m | ▲ 16.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.2m | €3.2m | €4.6m | €5.7m | €7.9m | €10.6m | €9.0m | ▼ 15.2% |
| Equity10/15 | €0.4m | €2.5m | €3.9m | €3.3m | €3.7m | €2.1m | -€2.7m | - |
| Contributions10/11 | €1.1m | €0.2m | €0.2m | €7.4m | €7.4m | €7.4m | €7.4m | = |
| Capital10 | - | - | - | €0.5m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.5m | €0.2m | €0.2m | €0.2m | = |
| Contributions outside capital11 | - | - | - | €6.9m | €7.2m | €7.2m | €7.2m | = |
| Share premium1100/10 | - | - | - | €6.9m | €7.2m | €7.2m | €7.2m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€1.7m | -€2.6m | -€3.4m | -€4.3m | -€3.8m | -€5.4m | -€10.1m | ▼ 89.4% |
| Investment grants15 | - | - | - | €0.1m | €0.1m | €0.06m | €0.02m | ▼ 66.7% |
| Amounts payable17/49 | €1.8m | €0.7m | €0.7m | €2.5m | €4.3m | €8.5m | €11.7m | ▲ 37.7% |
| Amounts payable after more than one year17 | €0.1m | €0.03m | €0.03m | €1.1m | €2.5m | €6.6m | €9.2m | ▲ 39.4% |
| Financial debts170/4 | - | - | - | €1.1m | €2.5m | €6.6m | €9.2m | ▲ 39.4% |
| Amounts payable within one year42/48 | €1.5m | €0.4m | €0.4m | €0.6m | €0.9m | €1.1m | €1.4m | ▲ 27.8% |
| Financial debts43 | - | - | - | €147 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €147 | - | - | - | - |
| Trade debts44 | €0.9m | €0.2m | €0.2m | €0.4m | €0.8m | €1.0m | €1.2m | ▲ 24.5% |
| Suppliers440/4 | - | - | - | €0.4m | €0.8m | €1.0m | €1.2m | ▲ 24.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 52.4% |
| Taxes450/3 | - | - | - | €0.005m | €0.03m | - | €0.005m | - |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 48.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.7m | €0.9m | €0.8m | €1.1m | ▲ 37.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.1m | -€1.0m | -€1.0m | -€0.9m | €0.4m | -€1.5m | -€4.8m | ▼ 216% |
| + Depreciation and write-downs630 | €0.1m | €0.2m | €0.5m | €0.8m | €1.2m | €1.3m | €2.8m | ▲ 111% |
| Operating cash flow (approximation) | -€1.0m | -€0.7m | -€0.5m | -€0.1m | €1.6m | -€0.2m | -€2.0m | ▼ 963% |
| Investment in fixed assets (approximation) | - | -€1.5m | -€1.6m | -€1.8m | -€3.7m | -€3.1m | -€0.01m | ▲ 99.6% |
| Change in cash | - | €0.5m | €0.08m | €0.04m | -€0.6m | -€0.1m | €0.9m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | abbreviated format | 19-09-2025 | 2025-00497890 |
| 31-12-2023 | abbreviated format | 04-11-2024 | 2024-00530847 |
| 31-12-2022 | abbreviated format | 04-07-2023 | 2023-00193399 |
| 31-12-2021 | abbreviated format | 15-06-2022 | 2022-20064403 |
| 31-12-2020 | abbreviated format | 21-06-2021 | 2021-21900022 |
| 31-12-2019 | abbreviated format | 16-06-2020 | 2020-19500296 |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25800547 |
| 31-12-2017 | micro format | 07-06-2018 | 2018-17000275 |
| 31-12-2016 | micro format | 14-07-2017 | 2017-33900377 |
| 31-12-2015 | abbreviated format | 03-08-2016 | 2016-39800507 |
Similar companies · same sector, comparable size
MOTIX
BE 0462.941.903
Leuven · FTE 12.8
ORGANICA
BE 0464.744.519
Ukkel · FTE 12.8
Verity
BE 0561.807.172
Mont-Saint-Guibert · FTE 12.8
Woonpartners
BE 0564.871.679
Westerlo · FTE 12.8
GOdevelop
BE 0632.779.993
Tessenderlo-Ham · FTE 12.8
Of the 16,902 active companies whose main activity is computer programming (NACE 62100), figures are known for 8,926. 1,626 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
5 directors, 2 in day-to-day management, no change since 2025
Board 5
Peter Maluck
CurrentDirector · since 22-12-2021
Stephan Sieber
CurrentDirector · since 22-12-2021
Olivier Buysse
CurrentDirector · since 07-01-2025
P.M.V.
CurrentDirector · since 20-08-2021 · Legal entity · from a recent deed
AJISAl
CurrentDirector · since 09-11-2021 · Legal entity · from a recent deed
2 not recently confirmed
Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.
Isabelle Marie Malvine TENNSTEDT
Not recently confirmedDirector (not named in the articles)
Thijs Willibrord GITMANS
Not recently confirmedDirector (not named in the articles)
Day-to-day management 2
Olivier Buysse
CurrentManaging director · since 07-01-2025
NP Consultancy
CurrentDagelijks bestuurder / algemeen directeur · since 22-12-2021 · Limited partnership
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Mandate history
22 people since 2013, 8 in office
- Board
- Day-to-day management
- not recently confirmed
- began earlier
| Name | Functions and periods |
|---|---|
| P.M.V.from an act |
|
| AJISAlfrom an act |
|
| Peter Maluck |
|
| Stephan Sieber |
|
| Olivier Buysse |
|
| NP Consultancy |
|
| Isabelle Marie Malvine TENNSTEDT |
|
| Thijs Willibrord GITMANS |
|
| ASTURION |
|
| AJISAI |
|
| Alexei LISITZKY |
|
| Koen De Waele |
|
| Nick POELS |
|
| Participatiemaatschappij Vlaanderen |
|
| Thijs Gitmans |
|
| VAN OCKENBURG CONSULTING |
|
| APEX ADVISORY |
|
| Isabelle Tennstedt |
|
| Steven De Troyer |
|
| EIXAMPLE |
|
| Matthias Franciscus Jan VANDEPITTE |
|
| SIEVERS, Aaron |
|
Owners and capital
Capital and shareholders
Shareholders according to the deeds
Share transfer
act of 29-01-2018 ↗
- Fortino Capital I ARKIV (BE 0646.862.118) to Fortino Capital I ARKIV (BE 0646.862.118) 190,000 shares
At incorporation
act of 11-03-2013 ↗
- Nick POELS 18 shares (18%) · €3,348
- Aaron SIEVERS 18 shares (18%) · €3,348
- Jordan Peter COX 18 shares (18%) · €3,348
- RESMAN S.R.L. 10 shares (10%) · €1,860
- Sylvie Belia Anna van SCHARENBURG 18 shares (18%) · €3,348
- Yulia KRAVETS 18 shares (18%) · €3,348
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 04-11-2020 Capital increase of €22,418.12 · to €195,572.03 · 690,246 new shares
- 04-06-2020 Capital increase of €22,418.12 · to €173,153.91 · 690,246 new shares
- 12-02-2020 Capital increase of €234 · to €150,735.78 · 7,200 new shares
- 27-03-2019 Capital increase of €46,805.20 · to €150,501.78 · 1,440,160 new shares
- 26-06-2018 Capital increase of €918.09 · to €103,696.58 · 28,249 new shares · in cash
- 29-01-2018 Capital increase of €9,144.62 · to €102,778.49 · 281,373 new shares
- 06-07-2017 Capital increase of €9,144.62 · to €93,633.87 · 281,373 new shares · in cash
- 18-11-2016 Capital increase of €18,289.25 · to €84,489.25 · 562,746 new shares · in cash
Show 3 older capital entries
- 20-04-2015 Capital increase of €19,344 · 1,040 new shares · in cash
- 20-04-2015 Capital increase of €28,256 · no new shares
- 11-03-2013 Incorporation · €18,600 · 100 shares
Group and network
Connections & network
3 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
CXM Holding
Shared corporate director
→
LINEAS
Shared corporate director
→
LINEAS GROUP
Shared corporate director
→
History
SupplyStack was incorporated on 7 March 2013 by RESMAN S.R.L. and five natural persons, with a starting capital of €18,600.12 The name was changed to SLICK Software Solutions in 2015 and to SupplyStack in 2019.34 The registered office was moved to Antwerpen in 2015.3 Between 2015 and 2020 the capital was increased 9 times, most recently to €195,572.356 The board currently has 5 members; P.M.V. has served longest, since 2021.7 Total assets rose from €2.2m in 2018 to €9.0m in 2024 and headcount from 5.7 to 12.8 full-time equivalents.8
Acts, filings and financial milestones
2026
01-04
Gazette deed
Registered office · Other addressesRegistered-office move · Power of attorney8 facts ▸
Gazette deed
Registered office · Other addresses
Registered-office move · Power of attorney8 facts ▸
- Board meeting, 10-02-2026
- Registered-office move, Ankerrui 9, 2000 Antwerpen
- Other provision, “Ankerrui 9, 2000 Antwerpen” (deed in Dutch)
- Power of attorney, Caroline Wildemeersch
- Power of attorney, Femke Tordeur
- Power of attorney, Ilias D'havé
- Power of attorney, Lucia Laloyaux
- Power of attorney
2025
19-09
NBB filing
Annual accounts filed
financial year 2024 · abbreviated format · 50 days late
14-02
Gazette deed
Resignation: ASTURION (director)Appointment: Olivier Buysse (director) · Director discharge · Mandate compensation8 facts ▸
Gazette deed
Resignation: ASTURION (director)
Appointment: Olivier Buysse (director) · Director discharge · Mandate compensation8 facts ▸
- General meeting, 07-01-2025
- Director resignation, ASTURION (director)
- Director discharge, ASTURION (2 times)
- Director appointment, Olivier Buysse (director)
- Mandate compensation, Olivier Buysse
- Board meeting, 07-01-2025
- Director resignation, ASTURION (day-to-day manager)
- Director appointment, Olivier Buysse (managing director)
2024
31-12
Financial
Weakest financial yearnet -€4.8m
Net result drops to -€4.8m, the lowest in the series.
04-11
NBB filing
Annual accounts filed
financial year 2023 · abbreviated format · 96 days late
2023
04-07
NBB filing
Annual accounts filed
financial year 2022 · abbreviated format
2022
31-12
Financial
Back to profitnet €436,797
Net result €436,797 after 4 loss-making years.
15-06
NBB filing
Annual accounts filed
financial year 2021 · abbreviated format
01-02
Gazette deed
Resignations: Nick Poels, Alexei Lisitzky and 6 othersAppointments: Stephan Sieber, Peter Maluck and NP Consultancy Comm.V. · Mandate compensation · Power of attorney20 facts ▸
Gazette deed
Resignations: Nick Poels, Alexei Lisitzky and 6 others
Appointments: Stephan Sieber, Peter Maluck and NP Consultancy Comm.V. · Mandate compensation · Power of attorney20 facts ▸
- General meeting, 22-12-2021
- Director resignation, Nick Poels (director)
- Director resignation, Alexei Lisitzky (director)
- Director resignation, Thijs Gitmans (director)
- Director resignation, Participatiemaatschappij Vlaanderen NV (director)
- Director resignation, Van Ockenburg Consulting BV (director)
- Director resignation, Koen De Waele (director)
- Director resignation, AJISAI BV (director)
- Director appointment, Stephan Sieber (director)
- Director appointment, Peter Maluck (director)
- Mandate compensation, Stephan Sieber
- Mandate compensation, Peter Maluck
- +8 further facts in this act
2021
27-12
Gazette deed
Capital & sharesShare issue · Bank account · Amendment of the articles3 facts ▸
Gazette deed
Capital & shares
Share issue · Bank account · Amendment of the articles3 facts ▸
- Share issue, “Winstbewijzen”, 205050 (deed in Dutch)
- Bank account, 21-12-2021
- Amendment of the articles (2 times)
09-11
Gazette deed
Appointments: AJISAl (director) and Participatiemaatschappij Vlaanderen (director)Permanent representatives: VAN DEVEN Patrick Jean Victor and TENNSTEDT Isabelle Marie Malvine · Share issue · Share capital increase6 facts ▸
Gazette deed
Appointments: AJISAl (director) and Participatiemaatschappij Vlaanderen (director)
Permanent representatives: VAN DEVEN Patrick Jean Victor and TENNSTEDT Isabelle Marie Malvine · Share issue · Share capital increase6 facts ▸
- Director appointment, AJISAl (director)
- Permanent representative, VAN DEVEN Patrick Jean Victor
- Director appointment, Participatiemaatschappij Vlaanderen (director)
- Permanent representative, TENNSTEDT Isabelle Marie Malvine
- Share issue, “Globaal Incentiveringsplan 2016, Incentive Inschrijvingsrechten” (deed in Dutch)
- Share capital increase, 227943
20-08
Gazette deed
Resignations: Isabelle Tennstedt (director) and APEX ADVISORY BV (director)Appointments: P.M.V. (director) and AJISAI (director) · Permanent representatives: Isabelle Tennstedt and Patrick Van Deven7 facts ▸
Gazette deed
Resignations: Isabelle Tennstedt (director) and APEX ADVISORY BV (director)
Appointments: P.M.V. (director) and AJISAI (director) · Permanent representatives: Isabelle Tennstedt and Patrick Van Deven7 facts ▸
- General meeting, 20-05-2021
- Director resignation, Isabelle Tennstedt (director)
- Director resignation, APEX ADVISORY BV (director)
- Director appointment, P.M.V. (director)
- Permanent representative, Isabelle Tennstedt
- Director appointment, AJISAI (director)
- Permanent representative, Patrick Van Deven
Show earlier events
21-06
NBB filing
Annual accounts filed
financial year 2020 · abbreviated format
2020
04-11
Gazette deed
Capital & sharesCapital increase · Bank account2 facts ▸
Gazette deed
Capital & shares
Capital increase · Bank account2 facts ▸
- Capital increase, €22,418.12
- Bank account, 29-10-2020
16-06
NBB filing
Annual accounts filed
financial year 2019 · abbreviated format
04-06
Gazette deed
Capital & sharesCapital increase · Share issue · Bank account7 facts ▸
Gazette deed
Capital & shares
Capital increase · Share issue · Bank account7 facts ▸
- Capital increase, €22,418.12
- Share issue, “Soort C Aandelen”, 690246 (deed in Dutch)
- Share issue, “Soort C Derde Closing Inschrijvingsrechten”, 690246 (deed in Dutch)
- Share issue, “Waarderingscorrectie Inschrijvingsrechten”, 13 (deed in Dutch)
- Bank account, “ING BANK” (deed in Dutch)
- Reserve release, 982580.0535, “Uitgiftepremies” (deed in Dutch)
- Power of attorney, CRESCO
12-02
Gazette deed
Resignations: Thijs Willibrord GITMANS, Isabelle Marie Malvine TENNSTEDT and 5 othersReappointments: Thijs Willibrord GITMANS, Isabelle Marie Malvine TENNSTEDT and 4 others · Appointment: APEX ADVISORY (director) · Permanent representatives: Eric Hendrik Willem van OCKENBURG and Steven DE TROYER22 facts ▸
Gazette deed
Resignations: Thijs Willibrord GITMANS, Isabelle Marie Malvine TENNSTEDT and 5 others
Reappointments: Thijs Willibrord GITMANS, Isabelle Marie Malvine TENNSTEDT and 4 others · Appointment: APEX ADVISORY (director) · Permanent representatives: Eric Hendrik Willem van OCKENBURG and Steven DE TROYER22 facts ▸
- Capital increase, €234
- Bank account, “ING BANK NV” (deed in Dutch)
- Reserve creation, 14764.3200, “Uitgiftepremies” (deed in Dutch)
- Share issue, “Soort C Anti-Dilutie Inschrijvingsrechten”, 3 (deed in Dutch)
- Share issue, “Additionele Soort C Tweede Closing Inschrijvingsrecht”, 1 (deed in Dutch)
- Amendment of the articles
- Director resignation, Thijs Willibrord GITMANS (director)
- Director resignation, Isabelle Marie Malvine TENNSTEDT (director)
- Director resignation, Nick POELS (director)
- Director resignation, Alexei LISITZKY (director)
- Director resignation, VAN OCKENBURG CONSULTING (director)
- Director resignation, Koen De Waele (director)
- +10 further facts in this act
2019
31-12
Financial
Liquidity more than doubledcurrent ratio 2.75
Current ratio from 0.94 to 2.75; short-term debt falls from €1.5m to €435,455.
31-12
Financial
Equity above €2mequity €2.5m ▲464%
Equity rises from €439,077 to €2.5m.
31-07
Gazette deed
Appointment: Koen De Waele (independent director)Resignation: EIXAMPLE (independent director)3 facts ▸
Gazette deed
Appointment: Koen De Waele (independent director)
Resignation: EIXAMPLE (independent director)3 facts ▸
- General meeting, 13-06-2019
- Director appointment, Koen De Waele (independent director)
- Director resignation, EIXAMPLE (independent director)
28-06
NBB filing
Annual accounts filed
financial year 2018 · micro format
27-03
Gazette deed
Resignations: Nick POELS, Alexei LISITZKY and 2 othersAppointments: Thijs Willibrord GITMANS, Steven DE TROYER and 5 others · Permanent representatives: Eric Hendrik Willem van OCKENBURG and Dirk Oscar Antoinette MICHIELS · Capital increase24 facts ▸
Gazette deed
Resignations: Nick POELS, Alexei LISITZKY and 2 others
Appointments: Thijs Willibrord GITMANS, Steven DE TROYER and 5 others · Permanent representatives: Eric Hendrik Willem van OCKENBURG and Dirk Oscar Antoinette MICHIELS · Capital increase24 facts ▸
- Capital increase, €46,805.20
- Bank account, “ING Bank NV” (deed in Dutch)
- Reserve creation, 2953192.0960, “Uitgiftepremies” (deed in Dutch)
- Share issue, “Klasse C Anti-Dilutie Warrants”, 9 (deed in Dutch)
- Share issue, “Klasse C Schadevergoedingswarrants”, 9 (deed in Dutch)
- Share issue, “Klasse C Tweede Closing Warrants”, 5 (deed in Dutch)
- Name change, SupplyStack
- Amendment of the articles
- Director resignation, Nick POELS (director)
- Director resignation, Alexei LISITZKY (director)
- Director resignation, Matthias Franciscus Jan VANDEPITTE (director)
- Director resignation, VAN OCKENBURG CONSULTING (director)
- +12 further facts in this act
2018
26-06
Gazette deed
Appointment: Van Ockenburg Consulting (director)Permanent representative: Erik van Ockenburg · Capital increase · Bank account8 facts ▸
Gazette deed
Appointment: Van Ockenburg Consulting (director)
Permanent representative: Erik van Ockenburg · Capital increase · Bank account8 facts ▸
- Capital increase, €918.09
- Bank account, “ING België NV” (deed in Dutch)
- Reserve creation, 49280.3805, “Uitgiftepremies” (deed in Dutch)
- Share issue, 1, “Additionele Klasse B Valuation Adjustment Warrant” (deed in Dutch)
- Share issue, 3, “Additionele Klasse B Anti-Dilutie Warrants” (deed in Dutch)
- Director appointment, Van Ockenburg Consulting (director)
- Permanent representative, Erik van Ockenburg
- Warrant modification, 3, “warranthouder” (deed in Dutch)
07-06
NBB filing
Annual accounts filed
financial year 2017 · micro format
29-01
Gazette deed
Capital & sharesCapital increase · Share transfer · Share issue10 facts ▸
Gazette deed
Capital & shares
Capital increase · Share transfer · Share issue10 facts ▸
- General meeting, 28-12-2017
- Capital increase, €9,144.62
- Share transfer, Fortino Capital I ARKIV → Fortino Capital I ARKIV
- Share issue, 1, “opschortende voorwaarde van de uitoefening” (deed in Dutch)
- Share issue, “Uitgifte van nieuwe warrants; voorkeurrechten afgezegd ten gunste van de Vennootschap”, 14809 (deed in Dutch)
- Capital, €102,778.49
- Power of attorney, CRESCO
- Power of attorney
- Amendment of the articles
- Agreement termination, 23-09-2016
2017
14-07
NBB filing
Annual accounts filed
financial year 2016 · micro format
06-07
Gazette deed
Capital & sharesCapital increase · Reserve creation · Bank account3 facts ▸
Gazette deed
Capital & shares
Capital increase · Reserve creation · Bank account3 facts ▸
- Capital increase, €9,144.62
- Reserve creation, 490855.1985, “onbeschikbaar” (deed in Dutch)
- Bank account, 31-05-2017
08-06
Gazette deed
Registered officeRegistered-office move2 facts ▸
Gazette deed
Registered office
Registered-office move2 facts ▸
- Board meeting, 01-02-2017
- Registered-office move, Tavernierkaai 2 bus 18, 2000 ANTWERPEN
2016
18-11
Gazette deed
Resignations: Nick Poels (manager) and Aaron Sievers (manager)Appointments: Nick Poels, Alexei Lisitzky and Matthias Franciscus J. Vandepitte · Legal-form conversion · Capital17 facts ▸
Gazette deed
Resignations: Nick Poels (manager) and Aaron Sievers (manager)
Appointments: Nick Poels, Alexei Lisitzky and Matthias Franciscus J. Vandepitte · Legal-form conversion · Capital17 facts ▸
- General meeting, 23-09-2016
- Legal-form conversion, “besloten vennootschap met beperkte aansprakelijkheid naar naamloze vennootschap” (deed in Dutch)
- Capital, €84,489.25
- Capital increase, €18,289.25
- Share issue, “Klasse B Aandelen”, 562746 (deed in Dutch)
- Share issue, “Klasse B Anti-Dilutie Warrants”, 3 (deed in Dutch)
- Share issue, “Klasse B Schadevergoedingswarrants”, 3 (deed in Dutch)
- Share issue, “Klasse B Tweede Closing Warrants”, 281373 (deed in Dutch)
- Share issue, “Warrants onder het Warrantsplan”, 151795 (deed in Dutch)
- Director resignation, Nick Poels (manager)
- Director resignation, Aaron Sievers (manager)
- Director appointment, Nick Poels (director)
- +5 further facts in this act
03-08
NBB filing
Annual accounts filed
financial year 2015 · abbreviated format · 3 days late
2015
20-04
Gazette deed
Registered office · Capital & shares · Purpose · Amendment of the articles · NameName change · Registered-office move · Purpose change13 facts ▸
Gazette deed
Registered office · Capital & shares · Purpose · Amendment of the articles · Name
Name change · Registered-office move · Purpose change13 facts ▸
- General meeting, 27-03-2015
- Name change, SLICK Software Solutions
- Registered-office move, 2000 Antwerpen, Kempischdok-Westkaai 100 bus 501
- Purpose change, “Alle activiteiten, verrichtingen van dienstverlening en andere handelsverrichtingen op gebied van informatica, telecommunicatie, internet, media en aanverwante…” (deed in Dutch)
- Share issue, “split”, 1:10 (deed in Dutch)
- Capital increase, €19,344
- Capital increase, €28,256
- Capital, €66,200
- Amendment of the articles (2 times)
- Power of attorney, LISITZKY Alexei
- Power of attorney, VANHAUWAERT Erik Wilfried Gert
- Power of attorney, DE COSTER Yannick
- +1 further fact in this act
2014
10-02
Gazette deed
Appointment: POELS Nick (mede zaakvoerder)2 facts ▸
Gazette deed
Appointment: POELS Nick (mede zaakvoerder)
2 facts ▸
- General meeting, 10-12-2013
- Director appointment, POELS Nick (mede zaakvoerder)
2013
04-06
Gazette deed
Resignation: Poels Nick (manager)Appointment: Sievers Aaron (manager)3 facts ▸
Gazette deed
Resignation: Poels Nick (manager)
Appointment: Sievers Aaron (manager)3 facts ▸
- General meeting, 30-04-2013
- Director resignation, Poels Nick (manager)
- Director appointment, Sievers Aaron (manager)
11-03
Gazette deed
IncorporationAppointment: Nick POELS (manager) · Founding capital · Mandate compensation5 facts ▸
Gazette deed
Incorporation
Appointment: Nick POELS (manager) · Founding capital · Mandate compensation5 facts ▸
- Incorporation, 05-03-2013
- Founding capital, €18,600
- Director appointment, Nick POELS (manager)
- Mandate compensation, Nick POELS
- Accounting effect, 01-01-2013
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 12 annual accounts filed, the latest 10 are here; all 12 are under Financials.
20 of 20 deeds read
Register details
Identification
Legal formPublic limited company
Founded07-03-2013
Financial year end31-12
Activities, NACEBEL 2025
62100Computer programming
47400Retail sale of information and communication equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0521837630
Registered
25-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 14 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
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2013
Ground area
1,896 m²
Building footprint
1,864 m²
Building volume
39,900 m³
2 parcels, Flanders · tallest building 41.9 m. Linked by address, not a title deed.
22
companies at this address
See who is registered here
1 establishment unit
SupplyStack
since 2013unit no. 2.226.228.588
2 parcels
Flanders
2
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11802B0262/00V000 | Flanders | 1,305 m² | 1 · 1,305 m² | 31.6 m · 6 |
| 11002A0058/00B000 | Flanders | 592 m² | 1 · 559 m² | 41.9 m · 12 |
How the parcels are linked
Good to know
Both parcels match the address exactly.
1 of these parcels carries protected heritage: expect extra rules on renovation or sale.
Articles of association
- PurposeThe activities the company may carry out under its articles.
- “De vennootschap heeft tot doel: A. In hoofdorde: Alle activiteiten, verrichtingen van dienstverlening en andere handelsverrichtingen op…” (deed in Dutch)
Text of the purpose (deed in Dutch)
“De vennootschap heeft tot doel: A. In hoofdorde: Alle activiteiten, verrichtingen van dienstverlening en andere handelsverrichtingen op gebied van informatica, telecommunicatie, intemet, media en aanverwante technologieën... B. In ondergeschikte orde: Het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen... C. In het algemeen: De bavenvermelde opsommingen en omschrjvingen zijn niet beperkend...”
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one.
- No statutory auditor
Read from the deeds: 2 provisions, deed of 18-11-2016