SWAP
ActiveSummary
SWAP has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €779,891 and a net result of €6,342. Equity is growing by ~14.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70▲+57
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity ample (current ratio 80.95 against 39.81 in 2023; short-term debt: 1.1% and cash: 29.6% of total assets), and 1.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
98.9%
Return on assets
0.8%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-07-2025, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
24 d early
2023
40 d early
2022
35 d early
2021
3 d early
2020
5 d late
2019
58 d 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 26 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
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 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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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 2024, micro schema
Equity
€779,891▲ 0.8%
2023 · €773,550
Total assets
€788,214▼ 0.3%
2023 · €790,369
Net result
€6,342
2023 · -€39,106
Working capital
€665,398▲ 1.9%
2023 · €652,770
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20202021202220232024
Operating result€113,076▲ 492%€468,879▲ 315%€26,685▼ 94.3%-€42,433€617
Net result€76,300above the sector's middle half▲ 759%€317,986above the sector's middle half▲ 317%€17,831within the sector's middle half▼ 94.4%-€39,106below the sector's middle half€6,342within the sector's middle half
Equity€476,838above the sector's middle half▲ 19.0%€794,824above the sector's middle half▲ 66.7%€812,655above the sector's middle half▲ 2.2%€773,550above the sector's middle half▼ 4.8%€779,891above the sector's middle half▲ 0.8%
Total assets€703,523above the sector's middle half▲ 18.2%€1.0mabove the sector's middle half▲ 42.5%€816,273above the sector's middle half▼ 18.6%€790,369above the sector's middle half▼ 3.2%€788,214above the sector's middle half▼ 0.3%
Debt€226,685▲ 16.5%€207,891▼ 8.3%€3,618▼ 98.3%€16,819▲ 365%€8,323▼ 50.5%
Working capital€268,827▲ 53.0%€603,288▲ 124%€666,025▲ 10.4%€652,770▼ 2.0%€665,398▲ 1.9%
Solvency67.8%within the sector's middle half▲ 0.5pp79.3%above the sector's middle half▲ 11.5pp99.6%above the sector's middle half▲ 20.3pp97.9%above the sector's middle half▼ 1.7pp98.9%above the sector's middle half▲ 1.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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 returns to profit in 2024: €617 after a loss of €42,433 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €788,214
Fixed assets
€114,493 ▼ 5.2%
Current assets
€673,721 ▲ 0.6%
Equity and liabilities €788,214
Equity
€779,891 ▲ 0.8%
Debt
€8,323 ▼ 50.5%
Debt's share of the balance-sheet total falls from 2.1% to 1.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6,904▲
2023 · -€14,395
Cash flow
€12,628▲
2023 · -€11,067
Current ratio
80.95▲
2023 · 39.81
Debt to equity
0.01▼
2023 · 0.02
ROE
0.8%▲
2023 · -5.1%
ROA
0.8%▲
2023 · -4.9%
Interest coverage
18.59▲
2023 · -30.51
Debt ≤ 1 year
€8,323▼
2023 · €16,819
Income taxes
€1,198▼
2023 · €2,368
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 14,684 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,968 | €46,405 | €45,696 | €28,039 | €6,287 | ▼ 77.6% |
| Other operating charges640/8 | - | €4,771 | €4,281 | €6,099 | €4,959 | ▼ 18.7% |
| Gross operating margin9900 | €165,521 | €520,054 | €76,662 | -€8,296 | €11,863 | ▲ 243% |
| Operating profit (loss)9901 | €113,076 | €468,879 | €26,685 | -€42,433 | €617 | ▲ 101% |
| Financial income75/76B | - | €1,400 | €2,136 | €6,168 | €7,294 | ▲ 18.3% |
| Recurring financial income75 | €1,153 | €1,400 | €2,136 | €6,168 | €7,294 | ▲ 18.3% |
| Financial charges65/66B | - | €840 | €824 | €472 | €371 | ▼ 21.3% |
| Recurring financial charges65 | €809 | €840 | €824 | €472 | €371 | ▼ 21.3% |
| Profit (loss) for the period before taxes9903 | €113,421 | €469,439 | €27,997 | -€36,738 | €7,540 | ▲ 121% |
| Income taxes67/77 | €37,120 | €151,453 | €10,166 | €2,368 | €1,198 | ▼ 49.4% |
| Profit (loss) for the period9904 | €76,300 | €317,986 | €17,831 | -€39,106 | €6,342 | ▲ 116% |
| Profit (loss) for the period to be appropriated9905 | €76,300 | €317,986 | €17,831 | -€39,106 | €6,342 | ▲ 116% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €703,523 | €1.0m | €816,273 | €790,369 | €788,214 | ▼ 0.3% |
| Fixed assets21/28 | €238,730 | €192,326 | €146,630 | €120,780 | €114,493 | ▼ 5.2% |
| Tangible fixed assets22/27 | €201,387 | €154,982 | €109,286 | €84,416 | €78,130 | ▼ 7.4% |
| Furniture and vehicles24 | - | €64,578 | €23,835 | €3,918 | €2,585 | ▼ 34.0% |
| Other tangible fixed assets26 | - | €90,404 | €85,451 | €80,498 | €75,545 | ▼ 6.2% |
| Financial fixed assets28 | €37,344 | €37,344 | €37,344 | €36,364 | €36,364 | = |
| Current assets29/58 | €464,793 | €810,390 | €669,643 | €669,589 | €673,721 | ▲ 0.6% |
| Amounts receivable within one year40/41 | €18,420 | €56,423 | €170,358 | €206,799 | €158,227 | ▼ 23.5% |
| Trade receivables40 | - | €53,193 | €120,714 | €99,915 | €31,700 | ▼ 68.3% |
| Other amounts receivable41 | - | €3,230 | €49,645 | €106,884 | €126,527 | ▲ 18.4% |
| Current investments50/53 | €152,876 | €152,876 | €175,416 | €280,416 | €280,416 | = |
| Cash at bank and in hand54/58 | €288,955 | €595,455 | €318,920 | €179,156 | €233,122 | ▲ 30.1% |
| Deferred charges and accrued income490/1 | - | €5,636 | €4,949 | €3,218 | €1,957 | ▼ 39.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €703,523 | €1.0m | €816,273 | €790,369 | €788,214 | ▼ 0.3% |
| Equity10/15 | €476,838 | €794,824 | €812,655 | €773,550 | €779,891 | ▲ 0.8% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Capital10 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €401,838 | €719,824 | €737,655 | €737,655 | €737,655 | = |
| Non-distributable reserves130/1 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | - | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Tax-exempt reserves132 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Distributable reserves133 | - | €709,824 | €727,655 | €727,655 | €727,655 | = |
| Profit (loss) carried forward14 | €0 | - | - | -€39,106 | -€32,764 | ▲ 16.2% |
| Amounts payable17/49 | €226,685 | €207,891 | €3,618 | €16,819 | €8,323 | ▼ 50.5% |
| Amounts payable after more than one year17 | €29,929 | - | - | - | - | - |
| Amounts payable within one year42/48 | €195,966 | €207,101 | €3,618 | €16,819 | €8,323 | ▼ 50.5% |
| Current portion of amounts payable after more than one year42 | - | €29,929 | - | - | - | - |
| Trade debts44 | €4,704 | €2,079 | €3,618 | €233 | €3,276 | ▲ 1,309% |
| Suppliers440/4 | - | €2,079 | €3,618 | €233 | €3,276 | ▲ 1,309% |
| Taxes, remuneration and social security45 | - | €136,063 | - | €16,587 | €5,047 | ▼ 69.6% |
| Taxes450/3 | - | €136,063 | - | €16,587 | €5,047 | ▼ 69.6% |
| Other amounts payable47/48 | - | €39,030 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €790 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €76,300 | €317,986 | €17,831 | -€39,106 | €6,342 | ▲ 116% |
| + Depreciation and write-downs630 | €47,968 | €46,405 | €45,696 | €28,039 | €6,287 | ▼ 77.6% |
| Operating cash flow (approximation) | €124,268 | €364,391 | €63,527 | -€11,067 | €12,628 | ▲ 214% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€2,189 | €0 | ▲ 100% |
| Change in cash | - | €306,500 | -€276,535 | -€139,764 | €53,966 | ▲ 139% |
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
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €6,342
Net result €6,342 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 80.95
Current ratio from 39.81 to 80.95; short-term debt falls from €16,819 to €8,323.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€39,106
Net result drops to -€39,106, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 47current ratio 185.10
Current ratio from 3.91 to 185.10; short-term debt falls from €207,101 to €3,618.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €317,986 ▲317%
Operating result €468,879, net result €317,986, both a record.
31-12
Financial
Equity above €500,000Eq €794,824 ▲66.7%
4 profitable years in a row build equity to €794,824.
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
01-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
2012
25-06
State Gazette act
General meeting · Share issue
Capital increase · Statutes amendment · Joris STALPAERT
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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, Kapellen · 1 establishment unit since 1999
Ground area
6,596 m²
Building footprint
703 m²
Volume, LiDAR
3,178 m³
2 parcels, Flanders · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SWAP
since 19992.091.199.244
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11023K0007/02X004 | Flanders | 6,044 m² | 1 · 522 m² | 4.5 m · 1 fl. |
| 11003A0355/00T002 | Flanders | 551 m² | 1 · 182 m² | 9.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
894500Q32UBMGR2V7551
Similar companies · same sector, comparable size
MachineSight
BE 0708.952.115
Marche-en-Famenne · Eq €779,826
CAPISTELLU
BE 1021.233.024
Brussel · Eq €779,700
THIRDEXPERT MANAGEMENT & CONSULTING
BE 0878.117.640
Gent · Eq €780,214
LDK Consultants Europe
BE 0848.642.310
Sint-Lambrechts-Woluwe · Eq €780,221
Dinsel Consult
BE 0878.639.955
Genk · Eq €780,256
Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 30,532 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-04-1999
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465919209
Also
9925:BE0465919209
Registered
15-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
2 convocationsExtraordinary general meeting
Agenda
AGENDA BUITENGEWONE ALGEMENE VERGADERING 1. Verslagen 1.1. Verslag van de raad van bestuur opgemaakt in uitvoering van artikel 583 van het Wetboek van vennootschappen waarin een omstan- dige verantwoording wordt gegeven van de voorgenomen uitgifte van warrants “2012”. 1.2. Verslag van de raad van bestuur opgemaakt in uitvoering van artikel 596 en artikel 598 van het Wetboek van vennootschappen betref- fende de voorgestelde opheffing van het voorkeurrecht van de bestaande houders van aandelen, bij de voorgenomen uitgifte van warrants “2012”, en dit in voordeel van de in de navolgende agenda genoemde personen 1.3. Verslag van de commissaris van de vennootschap opgemaakt in uitvoering van artik ...
Extraordinary general meeting
Agenda
houdende voorstellen tot besluit Agenda buitengewone algemene vergadering 1. Verslagen 1.1. Verslag van de raad van bestuur opgemaakt in uitvoering van artikel 583 van het Wetboek van vennootschappen waarin een omstan- dige verantwoording wordt gegeven van de voorgenomen uitgifte van warrants “2012”. 1.2. Verslag van de raad van bestuur opgemaakt in uitvoering van artikel 596 en artikel 598 van het Wetboek van vennootschappen betref- fende de voorgestelde opheffing van het voorkeurrecht van de bestaande houders van aandelen, bij de voorgenomen uitgifte van warrants “2012”, en dit in voordeel van de in de navolgende agenda genoemde personen. 1.3. Verslag van de commissaris van de vennootschap ...