SYSADM
ActiveSummary
SYSADM has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €252,252 and a net result of -€8,306. Equity has been growing by about 2.7% per year since 2019. Its solvency ranks better than 43% of 12,777 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-09-1999 Normal situation
- Activity
- Retail sale of information and communication equipment NACE 47400and 1 other
- Establishment unit
- 2.092.518.246 3401 Landen, since 15-10-1999
- Financial year end
- 30 September
- Peppol
- Reachable since 17-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
Annual accounts to 30-09-2025
- Gross margin
- €9,607
- ▲ 92.5%
- Turnover
- ≈ €68,000
- estimated
- Loss
- €8,306
- Equity
- €252,252
- ▼ 3.2%
- Total assets
- €832,414
- ▼ 0.3%
- 2025 accounts filed 7 days after the deadline
Score breakdownraises riskLiquidity: current ratio 1.52, cash €51Sector: Retail trade (NACE 47)lowers riskFounded in 1999Size: total assets €832,414Show the evidence
Checked score
Score 2025
69
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially stronger than 37% of micro companies in retail trade (NACE 47)
Financial strength · tick: 2024
Average
Solvency
55-1
equity 30.3% of total assets
Liquidity
45=
short-term debt 18.4% · cash 0.0%
Profitability
35-3
return on assets -1.0%
Bankruptcy probability within 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.2%highest value
01-2025: 1.0%▼ -1.2 percentage points vs 12-2024
02-2025: 1.0%● unchanged vs 01-2025
03-2025: 0.9%▼ -0.1 percentage points vs 02-2025
04-2025: 1.1%▲ +0.2 percentage points vs 03-2025
05-2025: 1.7%▲ +0.6 percentage points vs 04-2025
06-2025: 1.1%▼ -0.6 percentage points vs 05-2025
07-2025: 1.1%● unchanged vs 06-2025
08-2025: 1.1%● unchanged vs 07-2025
09-2025: 1.1%● unchanged vs 08-2025
10-2025: 1.1%● unchanged vs 09-2025
11-2025: 1.1%● unchanged vs 10-2025
12-2025: 1.1%● unchanged vs 11-2025
01-2026: 1.0%▼ -0.1 percentage points vs 12-2025
02-2026: 1.0%● unchanged vs 01-2026
03-2026: 1.0%● unchanged vs 02-2026
04-2026: 1.2%▲ +0.2 percentage points vs 03-2026
05-2026: 1.8%▲ +0.6 percentage points vs 04-2026
06-2026: 0.6%▼ -1.2 percentage points vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026lowest value
08-2026: 0.6%● unchanged vs 07-2026lowest value
09-2026: 0.6%● unchanged vs 08-2026lowest value
10-2026: 0.6%● unchanged vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Credit of up to €17,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.52 (1.6 in 2024), above the usual 1.5. Short-term debt is 18.4% and cash 0% of total assets. However, 69.7% of the assets are financed with debt and provisions.
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 47, micro). It does better than 46% of them on solvency, 44% on liquidity, 27% on profitability and 33% on growth.
The bankruptcy probability was computed on 03-11-2026 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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 7 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 07-05-2026, 7 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
7 days late
2024
on the day
2023
27 days late
2022
272 days late
2021
21 days early
2020
on the day
2019
68 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 50 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 7 May (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end04-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 7 days after the deadline Filed on 7 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00105322.
Annual accounts 2025 filed on 07-05-2026 PDF all 25 filings
Turnover
≈ €68,000
Estimated: probably between €38,000 and €120,000
Total assets
€832,414▼ 0.3%
2024 · €834,871
Net result
-€8,306
2024 · €943
Working capital
€79,652▼ 9.4%
2024 · €87,958
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€9,545
▲ 752%
2025
20192025
Net result
-€8,306
2025
lowest quarter of the sector
20192025
Equity
€252,252
▼ 3.2%
2025
middle half of the sector
20192025
Total assets
€832,414
▼ 0.3%
2025
middle half of the sector
20192025
Debt
€580,162
▲ 1.0%
2025
20192025
Working capital
€79,652
▼ 9.4%
2025
middle half of the sector
20192025
Solvency
30.3%
▼ 0.9pp
2025
middle half of the sector
20192025
Current ratio
1.52
▼ 0.08
2025
middle half of the sector
20192025
Return on assets (ROA)
-1.0%
▼ 1.1pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.09m-€0.06m▼ 36.3%€0.005m▼ 90.3%€0.1m▲ 21×-€0.001m€0.001m€0.01m▲ 752%
Net result€0.04m-€0.03mabove the sector's middle half▼ 31.7%-€0.02mbelow the sector's middle half€0.04mabove the sector's middle half€0.006mwithin the sector's middle half▼ 84.2%€0.001mbelow the sector's middle half▼ 84.0%-€0.008mbelow the sector's middle half
Equity€0.2m-€0.2mabove the sector's middle half▲ 13.3%€0.2mabove the sector's middle half▼ 9.5%€0.3mabove the sector's middle half▲ 17.3%€0.3mwithin the sector's middle half▲ 2.3%€0.3mwithin the sector's middle half▲ 0.4%€0.3mwithin the sector's middle half▼ 3.2%
Total assets€1.6m-€1.6mabove the sector's middle half▼ 1.0%€1.6mabove the sector's middle half▼ 2.9%€0.8mabove the sector's middle half▼ 47.0%€0.8mwithin the sector's middle half▲ 0.7%€0.8mwithin the sector's middle half=€0.8mwithin the sector's middle half▼ 0.3%
Debt€1.4m-€1.4m▼ 3.2%€1.3m▼ 1.8%€0.6m▼ 57.3%€0.6m▼ 0.1%€0.6m▼ 0.1%€0.6m▲ 1.0%
Working capital-€0.1m--€0.1mbelow the sector's middle half▼ 22.1%-€0.2mbelow the sector's middle half▼ 52.0%€0.08mwithin the sector's middle half€0.09mwithin the sector's middle half▲ 7.3%€0.09mwithin the sector's middle half▲ 1.1%€0.08mwithin the sector's middle half▼ 9.4%
Solvency13.0%-14.8%within the sector's middle half▲ 1.9pp13.8%within the sector's middle half▼ 1.0pp30.6%within the sector's middle half▲ 16.8pp31.1%within the sector's middle half▲ 0.5pp31.2%within the sector's middle half▲ 0.1pp30.3%within the sector's middle half▼ 0.9pp
Current ratio0.54-0.54below the sector's middle half=0.44below the sector's middle half▼ 0.111.55within the sector's middle half▲ 1.111.59within the sector's middle half▲ 0.041.60within the sector's middle half▲ 0.011.52within the sector's middle half▼ 0.08
Return on assets (ROA)2.5%-1.7%within the sector's middle half▼ 0.8pp-1.4%below the sector's middle half▼ 3.2pp4.5%within the sector's middle half▲ 6.0pp0.7%within the sector's middle half▼ 3.8pp0.1%below the sector's middle half▼ 0.6pp-1.0%below the sector's middle half▼ 1.1pp
Staff (FTE)2-
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8.5 times that of 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €832,414
Fixed assets
€600,000 =
Current assets
€232,414 ▼ 1.0%
Equity and liabilities €832,414
Equity
€252,252 ▼ 3.2%
Debt
€580,162 ▲ 1.0%
Debt's share of the balance-sheet total rises from 68.8% to 69.7%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
2.30▲
2024 · 2.20
ROE
-3.3%▼
2024 · 0.4%
Debt ≤ 1 year
€152,762▲
2024 · €146,912
Debt > 1 year
€427,400=
2024 · €427,400
Income taxes
€9,248
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €295,461 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €76,445 | €33,688 | €2,880 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,754 | €45,351 | €45,251 | - | - | - | - | - |
| Other operating charges640/8 | - | - | €35 | €5,773 | - | €3,872 | €62 | ▼ 98.4% |
| Gross operating margin9900 | €220,503 | €196,419 | €127,067 | €149,650 | €1,877 | €4,992 | €9,607 | ▲ 92.5% |
| Operating profit (loss)9901 | €86,644 | €55,220 | €5,336 | €110,189 | -€1,003 | €1,120 | €9,545 | ▲ 752% |
| Financial income75/76B | - | - | €0 | - | €7,044 | - | - | - |
| Recurring financial income75 | €9 | - | €0 | - | €7,044 | - | - | - |
| Non-recurring financial income76B | - | - | - | - | €7,044 | - | - | - |
| Financial charges65/66B | - | - | €27,944 | €66,934 | €139 | €177 | €8,603 | ▲ 49× |
| Recurring financial charges65 | €33,770 | €17,141 | €17,025 | €55,621 | €139 | €177 | €8,603 | ▲ 49× |
| Non-recurring financial charges66B | - | - | €10,919 | €11,314 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €52,883 | €38,079 | -€22,608 | €43,255 | €5,903 | €943 | €942 | ▼ 0.1% |
| Income taxes67/77 | €11,744 | €10,000 | - | €5,799 | - | - | €9,248 | - |
| Profit (loss) for the period9904 | €41,139 | €28,079 | -€22,608 | €37,456 | €5,903 | €943 | -€8,306 | - |
| Profit (loss) for the period to be appropriated9905 | €41,139 | €28,079 | -€22,608 | €37,456 | €5,903 | €943 | -€8,306 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.6m | €1.6m | €1.6m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.3% |
| Fixed assets21/28 | €1.5m | €1.4m | €1.4m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Tangible fixed assets22/27 | €0.9m | €0.8m | €0.8m | - | - | - | - | - |
| Land and buildings22 | - | - | €0.8m | - | - | - | - | - |
| Furniture and vehicles24 | - | - | €0.01m | - | - | - | - | - |
| Financial fixed assets28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Current assets29/58 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.0% |
| Amounts receivable after more than one year29 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▼ 0.2% |
| Other amounts receivable291 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▼ 0.2% |
| Amounts receivable within one year40/41 | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.3% |
| Trade receivables40 | - | - | €0.09m | €0.02m | €0.03m | €0.02m | €0.03m | ▲ 21.8% |
| Other amounts receivable41 | - | - | €0.02m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 4.6% |
| Cash at bank and in hand54/58 | €0.004m | €0.001m | €0.001m | €0.001m | €462 | €59 | €51 | ▼ 13.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.6m | €1.6m | €1.6m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.3% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 3.2% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Capital10 | - | - | €0.02m | €0.02m | - | €0.02m | €0.02m | = |
| Issued capital100 | - | - | €0.02m | €0.02m | - | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | - | - | - | - |
| Legal reserve130 | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 3.5% |
| Amounts payable17/49 | €1.4m | €1.4m | €1.3m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 1.0% |
| Amounts payable after more than one year17 | €1.2m | €1.1m | €1.0m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Financial debts170/4 | - | - | €0.6m | - | €0.4m | €0.4m | €0.4m | = |
| Other amounts payable178/9 | - | - | €0.4m | €0.4m | - | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.4m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 4.0% |
| Current portion of amounts payable after more than one year42 | - | - | €0.1m | - | - | - | - | - |
| Financial debts43 | - | - | €0.001m | - | - | - | - | - |
| Credit institutions430/8 | - | - | €0.001m | - | - | - | - | - |
| Trade debts44 | €0.05m | €0.04m | €0.02m | - | - | - | - | - |
| Suppliers440/4 | - | - | €0.02m | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | €0.06m | - | - | - | €0.002m | - |
| Taxes450/3 | - | - | €0.05m | - | - | - | €0.002m | - |
| Remuneration and social security454/9 | - | - | €0.006m | - | - | - | - | - |
| Other amounts payable47/48 | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 2.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,139 | €28,079 | -€22,608 | €37,456 | €5,903 | €943 | -€8,306 | - |
| + Depreciation and write-downs630 | €45,754 | €45,351 | €45,251 | - | - | - | - | - |
| Operating cash flow (approximation) | €86,893 | €73,430 | €22,644 | €37,456 | €5,903 | €943 | -€8,306 | - |
| Investment in fixed assets (approximation) | - | -€0 | €0 | €804,539 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,212 | €0 | €232 | -€617 | -€403 | -€8 | ▲ 98.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 07-05-2026 | 2026-00105322 | |
| 30-09-2024 | abbreviated format | 30-04-2025 | 2025-00085212 | |
| 30-09-2023 | abbreviated format | 27-05-2024 | 2024-00101576 | |
| 30-09-2022 | micro format | 27-01-2024 | 2024-00007756 | |
| 30-09-2021 | micro format | 09-04-2022 | 2022-20002428 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13400423 | |
| 30-09-2019 | micro format | 07-07-2020 | 2020-27100363 | |
| 30-09-2018 | abbreviated format | 28-03-2019 | 2019-08500503 | |
| 30-09-2017 | abbreviated format | 03-04-2018 | 2018-08800511 | |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-56000408 |
Board & ownership
Directors
Directors
1 director
Delcour Pascal
Current
Director · listed in the 2022 annual accounts, filed on 27-01-2024
Owners and capital
Owners
Network & group
SYSADM shares no director with another company.
Companies at the same address
2 other companiesConnections & network
1 current directorThe network starts from the directors of SYSADM. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
07-05
abbreviated format · 7 days late
2025
30-04
abbreviated format · on the deadline day
2024
2022
20-12
Gazette deed
Registered office moved from Sint-Truiden to LandenNew seat: 3401 Landen(Waasmont), Bosstraat, 2 · Previous seat: 3800 Sint-Truiden, Nijverheidslaan, 54213 points ▸
Gazette deed
Registered office moved from Sint-Truiden to Landen
New seat: 3401 Landen(Waasmont), Bosstraat, 2 · Previous seat: 3800 Sint-Truiden, Nijverheidslaan, 54213 points ▸
- Board meeting, 06-05-2022
- Registered-office move, 3401 Landen(Waasmont),Bosstraat,2
- Other provision, “3401 Landen,(Waasmont),Bosstraat,2” (deed in Dutch)
30-09
Financial
Back to profitnet €37,456
The net result is €37,456, after one loss-making year.
30-09
Financial
Liquidity more than triplescurrent ratio 1.55
The current ratio rises from 0.44 to 1.55. Short-term debt falls from €364,741 to €148,177.
09-04
micro format · 21 days before the deadline
2021
30-09
Financial
Weakest financial yearnet -€22,608
The net result drops to -€22,608, the lowest from 2019 to 2025. It recovers the following year.
30-04
micro format · on the deadline day
2020
07-07
micro format · 68 days late
2019
28-03
abbreviated format · 33 days before the deadline
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
SYSADM in Dutch
Enterprise number
0466.817.547
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
09-09-1999
Entity type
Legal entity
Registered office and establishments
Registered office
Bosstraat 2, 3401 Landen, Belgium
1 former office
- 3800 Sint-Truiden until 16-05-2022 · act of 20-12-2022
Establishment unit
Bosstraat 2, 3401 Landen since 15-10-1999 · unit number 2.092.518.24646500 Wholesale of information and communication equipment
Activities
NACEBEL 202547400
Retail sale of information and communication equipment main activity
63100
Computing infrastructure, data processing, hosting and related activities
Codes under NACEBEL 2008
47410
Retail trade main activity
63110
Computing infrastructure, data processing, hosting and other information service activities
Codes under NACEBEL 2003
52487
main activity
72300
Invoicing and payment
VAT number
BE 0466.817.547
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Sites & property
Location
Buildings and parcels at the address
Ground area
3,393 m²
Building footprint
230 m²
Building volume
1,811 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24732B0366/00D000 | Flanders | 3,393 m² | 1 · 230 m² | 12.6 m · 3 |