Checked.be
Active
BE 0836.824.641Private limited company (pre-2019)
SWITCH MUSIC
K.M.-Hendrikalaan 29 ·1190 Vorst, Belgium· 15 yrs active
Sector: Production of cinema films
(59111)
Conclusion
SWITCH MUSIC has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €17k and a net result of €17k. Equity is shrinking by ~32.3% per year across the filed fiscal years. Its solvency ranks better than 61% of 1461 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €17k |
| Net result | €17k |
| Better than sector | 61% |
| Active | 15 yrs |
Financial profile
89
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
88
Profitability
100
Solvency
81
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2011, 15 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
88
/ 100
Excellent
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€2k
estimate, not credit advice
Score history
70
2021
27
2022
22
2023
20
2024
88
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.21 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.21 (≥ 1.0)
+5
Leverage
Debt/equity 0.66 (< 1.0)
+10
Profitability
ROE 99% (≥ 10%)
+10
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-01-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~32.3%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 60.1% | 49.3% | |
| Net result | €17k | €6k | |
| Equity | €17k | €45k | |
| Gross operating margin | €21k | €23k | |
| Total assets | €29k | €103k |
€-2k
-45.4%
21-25
€17k
-
21-25
€-2k
-
21-25
€29k
+81.1%
21-25
€17k
+8932.8%
21-25
€2k
-
21-25
€12k
-26.8%
21-25
€12k
-26.8%
21-25
1.21
+1746.7%
21-25
1.21
+1746.7%
21-25
60.1%
+4887.1%
21-25
0.66
-99.2%
21-25
98.9%
-
21-25
59.4%
-
21-25
-4.49
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | - | €-2k | €-1k |
| Net profit | €17k | €-4k | €-9k | €-2k | €7k |
| Cash flow | - | - | - | €-2k | €8k |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €29k | €16k | €16k | €21k | €19k |
| Equity | €17k | €193 | €4k | €13k | €15k |
| Debt | €12k | €16k | €11k | €8k | €4k |
| of which ≤ 1y | €12k | €16k | €11k | €8k | €4k |
| of which > 1y | - | - | - | - | - |
| Working capital | €2k | €-15k | €-11k | €-2k | €281 |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.21 | 0.07 | 0.08 | 0.76 | 1.07 |
| Quick ratio | 1.21 | 0.07 | 0.08 | 0.76 | 1.07 |
| Working capital ratio | 8.4% | -92.3% | -66.6% | -9.4% | 1.5% |
| Solvency | 60.1% | 1.2% | 27.8% | 61.7% | 79.3% |
| Debt / equity | 0.66 | 82.02 | 2.59 | 0.62 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | - | - | - | -4.49 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 59.4% | -26.4% | -54.1% | -10.7% | 37.5% |
| ROE | 98.9% | -2189.5% | -194.5% | -17.3% | 47.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €29k | €16k | €16k | €21k | €19k |
| Fixed assets | 21/28 | €15k | €15k | €15k | €15k | €15k |
| Tangible fixed assets | 22/27 | - | - | - | - | €0 |
| Financial fixed assets | 28 | €15k | €15k | €15k | €15k | €15k |
| Current assets | 29/58 | €14k | €1k | €893 | €6k | €4k |
| Amounts receivable within one year | 40/41 | €14k | €1k | €893 | €6k | €2k |
| Cash & bank | 54/58 | - | - | - | €0 | €2k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €29k | €16k | €16k | €21k | €19k |
| Equity | 10/15 | €17k | €193 | €4k | €13k | €15k |
| Contributions / capital | 10/11 | €6k | €6k | €6k | €6k | - |
| Reserves | 13 | €2k | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €9k | €-8k | €-4k | €5k | €7k |
| Amounts payable | 17/49 | €12k | €16k | €11k | €8k | €4k |
| Amounts payable within one year | 42/48 | €12k | €16k | €11k | €8k | €4k |
| Trade debts payable within one year | 44 | €4k | €2k | €1k | €2k | €1k |
| Income statement | ||||||
| Gross operating margin | 9900 | €21k | €-3k | €-3k | €-2k | €-1k |
| Operating result | 9901 | €20k | €-4k | €-7k | €-2k | €-2k |
| Financial income | 75 | - | - | €0 | €389 | €389 |
| Financial charges | 65 | €3k | €492 | €1k | €482 | €402 |
| Result before taxes | 9903 | €17k | €-4k | €-9k | €-2k | €-2k |
| Net result for the period | 9904 | €17k | €-4k | €-9k | €-2k | €-2k |
| Result to be appropriated | 9905 | €17k | €-4k | €-9k | €-2k | €-2k |
Legal Structure
| NACE primary | Production of cinema films(59111) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 08-06-2011 |
| Status | Active |
| Postal code | 1190 |
Establishment units
SWITCH MUSIC
since 20112.200.350.770
Updates
Next filing, fiscal year 2026, expected by
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €17k
Net result €17k after 3 loss-making years.
30-06
Financial
Liquidity times 18current ratio 1.21
Current ratio from 0.07 to 1.21; short-term debt falls from €16k to €12k.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
30-06
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
28-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
04-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Production of cinema films59111Site preparation43120Other construction installation43240Bricklaying and masonry work43910Motion picture, video and television programme production, sound recording and music publishing activities59112Video and film production, excluding cinema and television films59113Post-production of films, video and television programmes59120Sound recording59201Motion picture, video and television programme production, sound recording and music publishing activities59209Other building cleaning and industrial cleaning81220
Names & trade names
| Legal nameFR | SWITCH MUSIC |
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