swisser
ActiveSummary
swisser has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36k and a net result of €14k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 71% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▲+36
Solvency83▲+14
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 1.84 against 1.1 in 2024; short-term debt: 41.5% and cash: 42.3% of total assets), and 41.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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 2025Solvency, return and age of the figures
Solvency
58.5%
Return on assets
22.3%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €36k
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
49 d early
2023
19 d early
2022
48 d early
2021
30 d late
2020
61 d late
2019
84 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€36k▲ 61.8%
2024 · €22k
2018: €-179klowest in 8 years
2019: €-48k▲ +72.9% vs 2018
2020: €-45k▲ +7.6% vs 2019
2021: €-1k▲ +97.3% vs 2020
2022: €15k▲ +1348% vs 2021
2023: €26k▲ +66.8% vs 2022
2024: €22k▼ -12.7% vs 2023
2025: €36k▲ +61.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€62k▲ 22.5%
2024 · €50k
2018: €945khighest in 8 years
2019: €167k▼ -82.3% vs 2018
2020: €97k▼ -42.1% vs 2019
2021: €103k▲ +6.6% vs 2020
2022: €55k▼ -47.2% vs 2021
2023: €45k▼ -18.2% vs 2022lowest in 8 years
2024: €50k▲ +12.8% vs 2023
2025: €62k▲ +22.5% vs 2024
2018 → 2025
Net result
€14k
2024 · €-3k
2018: €111k
2019: €131k▲ +17.6% vs 2018highest in 8 years
2020: €4k▼ -97.2% vs 2019
2021: €44k▲ +1081% vs 2020
2022: €16k▼ -62.5% vs 2021
2023: €10k▼ -37.5% vs 2022
2024: €-3k▼ -132% vs 2023lowest in 8 years
2025: €14k▲ +525% vs 2024
2018 → 2025
Working capital
€22k▲ 656%
2024 · €3k
2018: €670khighest in 8 years
2019: €157k▼ -76.6% vs 2018
2020: €92k▼ -41.4% vs 2019
2021: €-4k▼ -105% vs 2020
2022: €-5k▼ -29.9% vs 2021lowest in 8 years
2023: €7k▲ +226% vs 2022
2024: €3k▼ -58.3% vs 2023
2025: €22k▲ +656% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-1k-€15k€26k▲ 66.8%€22k▼ 12.7%€36k▲ 61.8%
2021: €-1klowest in 5 years
2022: €15k▲ +1348% vs 2021
2023: €26k▲ +66.8% vs 2022
2024: €22k▼ -12.7% vs 2023
2025: €36k▲ +61.8% vs 2024highest in 5 years
Operating result€52k-€20k▼ 62.2%€18k▼ 9.4%€-4k€23k
2021: €52khighest in 5 years
2022: €20k▼ -62.2% vs 2021
2023: €18k▼ -9.4% vs 2022
2024: €-4k▼ -120% vs 2023lowest in 5 years
2025: €23k▲ +734% vs 2024
Net result€44k-€16k▼ 62.5%€10k▼ 37.5%€-3k€14k
2021: €44khighest in 5 years
2022: €16k▼ -62.5% vs 2021
2023: €10k▼ -37.5% vs 2022
2024: €-3k▼ -132% vs 2023lowest in 5 years
2025: €14k▲ +525% vs 2024
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 2025: €23k after a loss of €4k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €62k
Fixed assets
€15k ▼ 25.3%
Current assets
€47k ▲ 52.5%
Equity and liabilities €62k
Equity
€36k ▲ 61.8%
Debt
€26k ▼ 8.7%
Debt's share of the balance-sheet total falls from 55.7% to 41.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31k▲
2024 · €4k
Cash flow
€22k▲
2024 · €4k
Current ratio
1.84▲
2024 · 1.10
Debt to equity
0.71▼
2024 · 1.26
ROE
38.2%▲
2024 · -14.5%
ROA
22.3%▲
2024 · -6.4%
Interest coverage
138.61▲
2024 · 10.60
Debt ≤ 1 year
€26k▼
2024 · €28k
Income taxes
€9k▲
2024 · €-666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€50k€62k▲
Fixed assets21/28€19k€15k▼
Tangible fixed assets22/27€19k€15k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€17k€13k▼
Current assets29/58€31k€47k▲
Amounts receivable within one year40/41€6k€2k▼
Trade receivables40-€2k
Other amounts receivable41€6k-
Current investments50/53€19k€19k=
Cash at bank and in hand54/58€5k€26k▲
Deferred charges and accrued income490/1€1k€30▼
Equity and liabilities
Total equity and liabilities10/49€50k€62k▲
Equity10/15€22k€36k▲
Contributions10/11€19k€19k=
Reserves13€7k€21k▲
Distributable reserves133€7k€21k▲
Profit (loss) carried forward14€-3k€-3k=
Amounts payable17/49€28k€26k▼
Amounts payable within one year42/48€28k€26k▼
Trade debts44€2k€2k▲
Suppliers440/4€2k€2k▲
Taxes, remuneration and social security45€1k€3k▲
Taxes450/3€1k€3k▲
Other amounts payable47/48€25k€21k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€8k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€5k€33k▲
Operating profit (loss)9901€-4k€23k▲
Financial charges65/66B€337€223▼
Recurring financial charges65€337€223▼
Profit (loss) for the period before taxes9903€-4k€22k▲
Income taxes67/77€-666€9k▲
Profit (loss) for the period9904€-3k€14k▲
Profit (loss) for the period to be appropriated9905€-3k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€11k▲
Profit (loss) brought forward from the previous period14P-€-3k
Transfer to equity691/2-€14k
To the legal reserve6920-€14k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €6k | €7k | €8k | ▲ 15.3% |
| Other operating charges640/8 | €13k | €12k | €1k | €1k | €2k | ▲ 40.1% |
| Gross operating margin9900 | €67k | €33k | €25k | €5k | €33k | ▲ 580% |
| Operating profit (loss)9901 | €52k | €20k | €18k | €-4k | €23k | ▲ 734% |
| Financial income75/76B | €2k | €4k | €868 | - | - | - |
| Recurring financial income75 | €2k | €4k | €868 | - | - | - |
| Financial charges65/66B | €390 | €412 | €250 | €337 | €223 | ▼ 33.9% |
| Recurring financial charges65 | €390 | €412 | €250 | €337 | €223 | ▼ 33.9% |
| Profit (loss) for the period before taxes9903 | €54k | €23k | €18k | €-4k | €22k | ▲ 674% |
| Income taxes67/77 | €10k | €7k | €8k | €-666 | €9k | ▲ 1,395% |
| Profit (loss) for the period9904 | €44k | €16k | €10k | €-3k | €14k | ▲ 525% |
| Profit (loss) for the period to be appropriated9905 | €44k | €16k | €10k | €-3k | €14k | ▲ 525% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €103k | €55k | €45k | €50k | €62k | ▲ 22.5% |
| Fixed assets21/28 | €3k | €21k | €19k | €19k | €15k | ▼ 25.3% |
| Tangible fixed assets22/27 | €3k | €21k | €19k | €19k | €15k | ▼ 25.3% |
| Plant, machinery and equipment23 | - | €3k | €3k | €2k | €1k | ▼ 35.4% |
| Furniture and vehicles24 | €3k | €18k | €16k | €17k | €13k | ▼ 24.0% |
| Current assets29/58 | €100k | €34k | €26k | €31k | €47k | ▲ 52.5% |
| Amounts receivable within one year40/41 | €49k | €13k | €1k | €6k | €2k | ▼ 56.1% |
| Trade receivables40 | €8k | - | €1k | - | €2k | - |
| Other amounts receivable41 | €41k | €13k | - | €6k | - | - |
| Current investments50/53 | €19k | €19k | €19k | €19k | €19k | = |
| Cash at bank and in hand54/58 | €33k | €2k | €5k | €5k | €26k | ▲ 397% |
| Deferred charges and accrued income490/1 | - | €405 | €1k | €1k | €30 | ▼ 98.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €103k | €55k | €45k | €50k | €62k | ▲ 22.5% |
| Equity10/15 | €-1k | €15k | €26k | €22k | €36k | ▲ 61.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | - | - | €7k | €7k | €21k | ▲ 199% |
| Distributable reserves133 | - | - | €7k | €7k | €21k | ▲ 199% |
| Profit (loss) carried forward14 | €-20k | €-3k | €0 | €-3k | €-3k | = |
| Amounts payable17/49 | €105k | €39k | €19k | €28k | €26k | ▼ 8.7% |
| Amounts payable within one year42/48 | €105k | €39k | €19k | €28k | €26k | ▼ 8.7% |
| Trade debts44 | €1k | €2k | €256 | €2k | €2k | ▲ 25.0% |
| Suppliers440/4 | €1k | €2k | €256 | €2k | €2k | ▲ 25.0% |
| Taxes, remuneration and social security45 | €10k | €11k | €7k | €1k | €3k | ▲ 110% |
| Taxes450/3 | €10k | €11k | €7k | €1k | €3k | ▲ 110% |
| Other amounts payable47/48 | €93k | €26k | €12k | €25k | €21k | ▼ 17.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44k | €16k | €10k | €-3k | €14k | ▲ 525% |
| + Depreciation and write-downs630 | €2k | €2k | €6k | €7k | €8k | ▲ 15.3% |
| Operating cash flow (approximation) | €45k | €19k | €16k | €4k | €22k | ▲ 464% |
| Investment in fixed assets (approximation) | - | €-20k | €-4k | €-8k | €-3k | ▲ 57.9% |
| Change in cash | - | €-31k | €3k | €0 | €21k | ▲ 4,341,165% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Liquidity times 11current ratio 207.80
Current ratio from 19.62 to 207.80; short-term debt falls from €8k to €444.
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 84 days late
2019
31-12
Financial
Highest result since 2018net €131k ▲17.6%
Operating result €135k, net result €131k, both a record.
31-12
Financial
Liquidity times 6current ratio 19.62
Current ratio from 3.45 to 19.62; short-term debt falls from €274k to €8k.
Show earlier events
29-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 90 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
02-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 336 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Sint-Lambrechts-Woluwe · 1 establishment unit since 1995
Ground area
730 m²
Building footprint
195 m²
Volume, LiDAR
1,196 m³
Parcel 21673D0105/00W003, Brussels · tallest building 11.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GLASDON
since 19952.074.241.268
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21673D0105/00W003 | Brussels | 730 m² | 1 · 195 m² | 11.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 4,578 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-11-1995
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.