SWITCHPOINT
ActiveSummary
SWITCHPOINT has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€253,189) and a net result of -€135,816. Equity has been shrinking by about 42% per year since 2018. Its solvency ranks better than 23% of 155 sector peers (NACE 51, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 30-07-1992 Normal situation
- Activity
- Air transport NACE 51100and 1 other
- Establishment unit
- 2.070.416.401 3960 Bree, since 22-02-1995
- Financial year end
- 31 December
- Peppol
- Reachable since 07-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.0%
- Gross margin
- -€43,359
- ▼ 90.0%
- Loss
- €135,816
- ▲ 50.9%
- Equity
- -€253,189
- ▼ 116%
- Total assets
- €1.1m
- ▼ 7.4%
- Negative equity on 31-12-2025
- 2025 accounts filed 18 days after the deadline
Score breakdownraises riskCapped at 59: negative equityLoss of €135,816, the second in a row (financial year 2025)Negative equity -€253,189lowers riskSize: total assets €1.1mFounded in 1992Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 51, micro). It does better than 18% of them on solvency, 3% on liquidity, 19% on profitability and 4% on growth.
The bankruptcy probability was computed on 02-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 78 days after the deadline. In the sector (NACE 51), the median for financial year 2024 was 10 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 18 days after the deadline Filed on 18 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00404817.
Annual accounts 2025 filed on 18-08-2026 at the NBB all 33 filings
Amounts without an identifiable currency are taken as euros.
Every figure per financial year
The operating result for 2025 is a loss of €107,304, larger than the loss of €61,527 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €185,000 | €76,179 | €6,421 | €81,402 | €332,119 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €40,130 | €41,709 | €37,406 | €38,641 | €61,867 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,281 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,846 | €37,846 | €37,846 | €40,130 | €41,709 | €37,406 | €38,641 | €61,867 | ▲ 60.1% |
| Other operating charges640/8 | - | - | - | €930 | €930 | €1,062 | €65 | €2,078 | ▲ 32× |
| Gross operating margin9900 | -€10,045 | €13,642 | -€1,125 | -€11,317 | -€43,514 | -€14,011 | -€22,821 | -€43,359 | ▼ 90.0% |
| Operating profit (loss)9901 | -€48,821 | -€25,134 | -€42,427 | -€52,376 | -€86,153 | -€52,479 | -€61,527 | -€107,304 | ▼ 74.4% |
| Financial income75/76B | - | - | - | €723 | €850 | €695 | €820 | €0 | ▼ 100% |
| Recurring financial income75 | €801 | €817 | €1,032 | €723 | €850 | €695 | €820 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €19,802 | €25,641 | €26,410 | €29,270 | €28,512 | ▼ 2.6% |
| Recurring financial charges65 | €16,568 | €16,757 | €20,383 | €19,802 | €25,641 | €26,410 | €29,270 | €28,512 | ▼ 2.6% |
| Profit (loss) for the period before taxes9903 | -€64,588 | -€41,074 | -€61,777 | -€71,456 | -€110,943 | -€78,195 | -€89,976 | -€135,816 | ▼ 50.9% |
| Income taxes67/77 | €0 | €0 | - | €9,825 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€64,588 | -€41,074 | -€61,777 | -€81,281 | -€110,943 | -€78,195 | -€89,976 | -€135,816 | ▼ 50.9% |
| Profit (loss) for the period to be appropriated9905 | -€64,588 | -€41,074 | -€61,777 | -€81,281 | -€110,943 | -€78,195 | -€89,976 | -€135,816 | ▼ 50.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.0m | €1.1m | €1.2m | €1.1m | €1.2m | €1.1m | ▼ 7.4% |
| Formation expenses20 | €0 | €0 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.7m | €0.6m | €0.6m | €0.7m | €0.8m | €0.7m | €0.8m | €0.7m | ▼ 6.7% |
| Intangible fixed assets21 | €0 | €0 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.7m | €0.6m | €0.6m | €0.7m | €0.8m | €0.7m | €0.8m | €0.7m | ▼ 6.7% |
| Plant, machinery and equipment23 | - | - | - | €21 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.7m | €0.5m | €0.5m | €0.5m | €0.7m | ▲ 58.7% |
| Assets under construction and advance payments27 | - | - | - | - | €0.3m | €0.3m | €0.3m | €0 | ▼ 100% |
| Financial fixed assets28 | €320 | €320 | €320 | €320 | €320 | €320 | €320 | €320 | = |
| Current assets29/58 | €0.4m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.8% |
| Stocks and contracts in progress3 | €0 | €0 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.4m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 10.5% |
| Trade receivables40 | - | - | - | €0.04m | €0.08m | €0.06m | €0.08m | €0.03m | ▼ 57.3% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.6% |
| Current investments50/53 | €0 | €0 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.02m | €0.01m | €0.03m | €0.02m | €0.01m | €0.005m | €0.005m | €0.01m | ▲ 91.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.02m | ▲ 3.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.0m | €1.1m | €1.2m | €1.1m | €1.2m | €1.1m | ▼ 7.4% |
| Equity10/15 | €0.3m | €0.3m | €0.2m | €0.2m | €0.05m | -€0.03m | -€0.1m | -€0.3m | ▼ 116% |
| Contributions10/11 | €0.05m | €0.05m | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Reserves13 | €0.3m | €0.3m | €0.2m | €0.1m | €0.1m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves not available under the articles1311 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Profit (loss) carried forward14 | €0 | €0 | - | - | -€0.1m | -€0.09m | -€0.2m | -€0.3m | ▼ 76.0% |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €1.0m | €1.1m | €1.2m | €1.3m | €1.4m | ▲ 3.5% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.7m | €0.9m | €1.1m | €1.1m | €1.2m | €1.2m | ▲ 1.5% |
| Trade debts44 | €0.02m | €0.003m | €0.005m | - | €0.03m | €0.001m | €0.004m | €0.002m | ▼ 59.5% |
| Suppliers440/4 | - | - | - | - | €0.03m | €0.001m | €0.004m | €0.002m | ▼ 59.5% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.002m | - | - | - | - |
| Taxes450/3 | - | - | - | - | €0.002m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.9m | €1.0m | €1.1m | €1.2m | €1.2m | ▲ 1.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.04m | €0.07m | €0.09m | €0.1m | €0.1m | ▲ 23.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€64,588 | -€41,074 | -€61,777 | -€81,281 | -€110,943 | -€78,195 | -€89,976 | -€135,816 | ▼ 50.9% |
| + Depreciation and write-downs630 | €37,846 | €37,846 | €37,846 | €40,130 | €41,709 | €37,406 | €38,641 | €61,867 | ▲ 60.1% |
| Operating cash flow (approximation) | -€26,742 | -€3,228 | -€23,931 | -€41,151 | -€69,234 | -€40,789 | -€51,335 | -€73,949 | ▼ 44.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€185,000 | -€78,460 | -€6,421 | -€81,402 | -€9,166 | ▲ 88.7% |
| Change in cash | - | -€1,598 | €17,752 | -€7,382 | -€15,160 | -€4,087 | -€352 | €4,668 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 678 companies had the same profile as SWITCHPOINT has now. Two years later, 84.4% were still going and 6.8% had gone bankrupt.
- Small
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 2.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SWITCHPOINT itself is lower: 1.0% within 12 months. It rests on far more data about SWITCHPOINT than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 678 companies, not a prediction for SWITCHPOINT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-08-2026 | 2026-00404817 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00443300 | |
| 31-12-2023 | abbreviated format | 24-02-2025 | 2025-00038336 | |
| 31-12-2022 | abbreviated format | 25-08-2023 | 2023-00354019 | |
| 31-12-2021 | abbreviated format | 27-10-2022 | 2022-20474506 | |
| 31-12-2020 | abbreviated format | 28-10-2021 | 2021-74100173 | |
| 31-12-2019 | abbreviated format | 30-10-2020 | 2020-65900410 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-55400427 | |
| 31-12-2017 | abbreviated format | 16-08-2018 | 2018-45800354 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-50600316 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 10-01-2024 Capital stated in the deed · 2,402 shares
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “10.1, 1”“Het bestuursorgaan kan, in voorkomend geval collegiaal handelend, alle handelingen verrichten die nodig of dienstig zijn tot verwezenlijking…”
Capital, shares and profit
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “8, Het bestuursorgaan kan een overdracht erkennen en in het register inschrijven, als uit stukken het bewijs van de toestemming van de…”
Audit, dissolution and liquidation
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “De aanstelling van de natuurlijke persoon die de rechtspersoon vertegenwoordigt moet door de algemene vergadering van de ontbonden…”
Articles of association, deed of 10-01-2024 (in Dutch)
Network & group
SWITCHPOINT shares no director with another company.
Companies at the same address
2 other companiesConnections & network
1 current directorThe network starts from the directors of SWITCHPOINT. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
10-01
Gazette deed
Reappointment: GORRÉ Dirk Jan Maurits (director)Amendment of the articles · Capital · Power of attorney7 points ▸
- General meeting, 19-12-2023
- Other provision, “herbestemming van de balansposten” (deed in Dutch)
- Amendment of the articles
- Director reappointment, GORRÉ Dirk Jan Maurits (director)
- Board composition, GORRÉ Dirk Jan Maurits (director)
- Capital
- Power of attorney, AD-MINISTERIE, mentioned 2 times in the deed
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 72004A0327/00B002 | Flanders | 2.5 ha | 1 · 9,405 m² | 11.0 m · 3 |