Equity
-€250,361
Debts exceed assets in financial year 2025.
SYSTEM B
Lifetime
18 annual accounts with figures on one time axispeak €46,625 (2011)
-€71,701▼ €20,738
lowest -€188,510 (2025)
-€188,510▼ €114,518
peak €32,659 (2014)
-€250,361▼ €184,885
€317,205▲ 1.6%
Board2 names since 2021
2 directorsMasschelein Bruno and 1 other
Documentsfilings and deeds
08-09-202639 days late
2025micro format
Gross margin from -€50,963 to -€71,701Loss of €188,510Equity from -€65,475 to -€250,361Cash from €3,306 to €1,361
Key points
from the 2025 annual accountsResult
-€188,510 ▼ 155%
The result fell in 2025 from -€73,992 to -€188,510.
Debts
€317,205 475% of the balance sheet
Financial debts 31%Suppliers 6%Taxes and wages 3%Other 61%
Of this, €233,056 falls due within a year.
Staff
2 employees on 31-12-2025
In 2025, 10 people joined and 11 left.
Liquidity
0.14 was 0.57 in 2024
Short-term debts rose from €212,396 to €233,056.
Position in the sector
-374.5%
Lower solvency than 95% of companies in specialised construction. Sector median 46.7% · 35,136 companies.
2025 accounts filed 39 days after the deadlineTurnover not published (micro format)
Checked score
47
Fair
Financially stronger than 3% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.4% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.7%▲ +0.1 percentage points vs 03-2025
05-2025: 0.6%▼ -0.1 percentage points vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025lowest value
07-2025: 0.8%▲ +0.2 percentage points vs 06-2025
08-2025: 1.3%▲ +0.5 percentage points vs 07-2025
09-2025: 2.3%▲ +1.0 percentage point vs 08-2025
10-2025: 2.3%● unchanged vs 09-2025
11-2025: 2.3%● unchanged vs 10-2025
12-2025: 2.3%● unchanged vs 11-2025
01-2026: 2.3%● unchanged vs 12-2025
02-2026: 2.3%● unchanged vs 01-2026
03-2026: 2.3%● unchanged vs 02-2026
04-2026: 2.3%● unchanged vs 03-2026
05-2026: 2.1%▼ -0.2 percentage points vs 04-2026
06-2026: 2.1%● unchanged vs 05-2026
07-2026: 2.2%▲ +0.1 percentage points vs 06-2026
08-2026: 2.7%▲ +0.5 percentage points vs 07-2026
09-2026: 2.8%▲ +0.1 percentage points vs 08-2026
10-2026: 3.4%▲ +0.6 percentage points vs 09-2026highest value
11-2026: 3.4%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €188,510, the second in a row (financial year 2025)
Negative equity -€250,361
Sector: Specialised construction activities (NACE 43)
lowers risk
Size: total assets €66,845
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 43, micro). It does better than 3% of them on solvency, 3% on liquidity, 4% on profitability and 1% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as SYSTEM B has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SYSTEM B itself: 3.4% within 12 months.
Test of the method
The method was tested on the 497,447 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 6,907 companies, not a prediction for SYSTEM B. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.14 (0.57 in 2024), below 1. Short-term debt is 348.7% and cash 2% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€250,361
raises risk · 2025 accounts filed 39 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 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
39 days late
2024
26 days late
2023
63 days early
2022
36 days early
2021
27 days early
2020
14 days early
2019
31 days early
← 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 15 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 4 July (4 of the last 5 accounts filed within 53 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0897320571
New establishment in Mont-Saint-Guibert
Archix, Grand'Route 52
Appointment: Antoine Masschelein (director)
Board meeting of 27-03-2024 · Gazette deed
Resignation: Masschelein Bruno (director)
Reappointment: Masschelein Bruno (director) · General meeting of 16-11-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SYSTEM B Villers-la-Ville | €66,845 | -€71,701 | -374.5% | - |
| KoKreate Evergem | €69,674 | -€613 | 51.2% | - |
| HOME VOLET Jette | €69,050 | -€13,955 | -14.6% | - |
| Reno Droom Zandhoven | €67,723 | -€5,587 | 76.9% | - |
| MANNAX-wood solutions Waregem | €70,993 | €1,009 | 84.0% | - |
| Schokkaert Niel | €68,465 | -€5,514 | 89.9% | - |
| DSE SERVICES Sint-Gillis-Waas | €78,307 | €410 | 91.4% | - |
These companies have the same main activity as SYSTEM B: joinery installation (NACE 43320). They are comparable in size and age: total assets between €67,700 and €78,300, founded between 2007 and 2009.
Official details
Source: KBO- Status
- Active since 14-04-2008Normal situation
- Activity
- Joinery installationNACE 43320and 3 others
- Establishment units
- 2.171.310.7521495 Villers-la-Ville, since 14-04-2008
- 2.366.928.0781435 Mont-Saint-Guibert, since 01-08-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 27-11-2025
Annual accounts 2025
- €66,845▼ 72.9%
- Employeeson 31-12-2025
- 2▼ 33.3%
- Filing
- Filed on 08-09-2026
Insights on SYSTEM B
SYSTEM B files the micro format. That format states no turnover. The gross margin fell from €10,189 in 2008 to -€71,701 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SYSTEM B
- What is the company number of SYSTEM B?
- The company number of SYSTEM B is 0897.320.571. The VAT number is the same number with BE in front: BE 0897.320.571.
- Where is SYSTEM B based?
- The registered office is at Rue de Thyle 26, 1495 Villers-la-Ville.Company details
- What does SYSTEM B do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of SYSTEM B?
- SYSTEM B is a private limited company (BV).
- When was SYSTEM B founded?
- SYSTEM B was founded on 14-04-2008.
- Is SYSTEM B still active?
- Yes, SYSTEM B is an active enterprise in the KBO register.
- How many employees does SYSTEM B have?
- SYSTEM B had an average of 2.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of SYSTEM B?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.
- Is SYSTEM B profitable?
- In financial year 2025, SYSTEM B made a loss of €188,510.
- Where can I find the annual accounts of SYSTEM B?
- SYSTEM B filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SYSTEM B due?
- SYSTEM B must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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