SYSTEM CREATOR
ActiveSummary
SYSTEM CREATOR has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €302,398 and a net result of €31,984. Equity remains stable across the filed financial years (±1.8% per year). Its solvency ranks better than 56% of 21,120 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €302,398
- Profit
- €31,984
Why 85raises riskLiquidity: current ratio 3.08, cash €14lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Founded in 2001Size: total assets €464,474Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 62, micro): better than 57% on solvency, 14% on liquidity, 36% on profitability and 36% on growth.
The bankruptcy probability was computed on 30-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 33 days before the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Highest result from 2018 to 2025net €44,818 ▲40.6%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 29% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,136 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €16,303 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,147 | €7,270 | €2,943 | €3,795 | €5,732 | €5,834 | €5,286 | €5,286 | = |
| Other operating charges640/8 | - | - | - | €2,253 | €227 | €109 | €118 | €120 | ▲ 1.7% |
| Gross operating margin9900 | €85,889 | €77,780 | €67,052 | €61,503 | €56,007 | €57,516 | €78,814 | €57,723 | ▼ 26.8% |
| Operating profit (loss)9901 | €71,552 | €70,411 | €63,888 | €55,455 | €50,048 | €51,573 | €73,410 | €52,317 | ▼ 28.7% |
| Financial charges65/66B | - | - | - | €664 | €3,223 | €2,499 | €3,870 | €2,765 | ▼ 28.6% |
| Recurring financial charges65 | €410 | €377 | €310 | €664 | €3,223 | €2,499 | €3,870 | €2,765 | ▼ 28.6% |
| Profit (loss) for the period before taxes9903 | €71,142 | €70,035 | €63,578 | €54,791 | €46,824 | €49,074 | €69,540 | €49,553 | ▼ 28.7% |
| Income taxes67/77 | €27,965 | €26,729 | €21,660 | €19,039 | €15,498 | €17,187 | €24,722 | €17,568 | ▼ 28.9% |
| Profit (loss) for the period9904 | €43,176 | €43,306 | €41,918 | €35,752 | €31,326 | €31,887 | €44,818 | €31,984 | ▼ 28.6% |
| Profit (loss) for the period to be appropriated9905 | €43,176 | €43,306 | €41,918 | €35,752 | €31,326 | €31,887 | €44,818 | €31,984 | ▼ 28.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €287,868 | €295,768 | €346,034 | €381,276 | €396,953 | €427,909 | €450,335 | €464,474 | ▲ 3.1% |
| Fixed assets21/28 | €17,214 | €13,413 | €10,470 | €20,024 | €25,495 | €19,661 | €14,375 | €9,089 | ▼ 36.8% |
| Tangible fixed assets22/27 | €17,214 | €13,413 | €10,470 | €20,024 | €25,495 | €19,661 | €14,375 | €9,089 | ▼ 36.8% |
| Land and buildings22 | - | - | - | €2,093 | €1,892 | €1,691 | €1,691 | €1,691 | = |
| Plant, machinery and equipment23 | - | - | - | €16,052 | €14,327 | €11,013 | €8,046 | €5,079 | ▼ 36.9% |
| Furniture and vehicles24 | - | - | - | €1,879 | €9,276 | €6,957 | €4,638 | €2,319 | ▼ 50.0% |
| Current assets29/58 | €270,654 | €282,355 | €335,564 | €361,253 | €371,458 | €408,248 | €435,960 | €455,385 | ▲ 4.5% |
| Amounts receivable within one year40/41 | €223,899 | €268,923 | €328,580 | €360,826 | €371,444 | €408,234 | €435,946 | €455,371 | ▲ 4.5% |
| Trade receivables40 | - | - | - | €155,917 | €155,651 | €151,663 | €183,609 | €182,724 | ▼ 0.5% |
| Other amounts receivable41 | - | - | - | €204,909 | €215,793 | €256,571 | €252,337 | €272,647 | ▲ 8.0% |
| Cash at bank and in hand54/58 | €35,023 | €3,171 | €833 | €426 | €14 | €14 | €14 | €14 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €287,868 | €295,768 | €346,034 | €381,276 | €396,953 | €427,909 | €450,335 | €464,474 | ▲ 3.1% |
| Equity10/15 | €240,104 | €283,410 | €325,328 | €318,035 | €308,263 | €340,150 | €313,719 | €302,398 | ▼ 3.6% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €157,252 | €200,558 | €242,476 | €235,183 | €225,411 | €257,298 | €230,867 | €219,545 | ▼ 4.9% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €233,323 | €223,551 | €257,298 | €230,867 | €219,545 | ▼ 4.9% |
| Profit (loss) carried forward14 | €76,652 | €76,652 | €76,652 | €76,652 | €76,652 | €76,652 | €76,652 | €76,652 | = |
| Amounts payable17/49 | €47,764 | €12,358 | €20,707 | €63,241 | €88,690 | €87,759 | €136,615 | €162,076 | ▲ 18.6% |
| Amounts payable after more than one year17 | - | - | - | - | €17,514 | €2,711 | €18,337 | €14,040 | ▼ 23.4% |
| Financial debts170/4 | - | - | - | - | €17,514 | €2,711 | €18,337 | €14,040 | ▼ 23.4% |
| Amounts payable within one year42/48 | €47,764 | €12,358 | €20,707 | €63,241 | €71,176 | €85,048 | €118,278 | €148,036 | ▲ 25.2% |
| Trade debts44 | €755 | - | €906 | €460 | €364 | €70 | €3,443 | €1,225 | ▼ 64.4% |
| Suppliers440/4 | - | - | - | €460 | €364 | €70 | €3,443 | €1,225 | ▼ 64.4% |
| Taxes, remuneration and social security45 | - | - | - | €40,406 | €42,324 | €44,182 | €36,585 | €49,963 | ▲ 36.6% |
| Taxes450/3 | - | - | - | €40,406 | €42,324 | €44,182 | €36,585 | €49,963 | ▲ 36.6% |
| Other amounts payable47/48 | - | - | - | €22,375 | €28,488 | €40,796 | €78,250 | €96,849 | ▲ 23.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,176 | €43,306 | €41,918 | €35,752 | €31,326 | €31,887 | €44,818 | €31,984 | ▼ 28.6% |
| + Depreciation and write-downs630 | €14,147 | €7,270 | €2,943 | €3,795 | €5,732 | €5,834 | €5,286 | €5,286 | = |
| Operating cash flow (approximation) | €57,323 | €50,576 | €44,861 | €39,547 | €37,058 | €37,721 | €50,104 | €37,270 | ▼ 25.6% |
| Investment in fixed assets (approximation) | - | -€3,470 | €0 | -€13,348 | -€11,204 | €0 | €0 | €0 | - |
| Change in cash | - | -€31,852 | -€2,338 | -€407 | -€412 | €0 | €0 | €0 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 19-06-2026 | 2026-00180930 |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00169251 |
| 31-12-2023 | micro format | 20-06-2024 | 2024-00144332 |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00172963 |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20085943 |
| 31-12-2020 | abbreviated format | 07-07-2021 | 2021-32200326 |
| 31-12-2019 | abbreviated format | 14-07-2020 | 2020-29600139 |
| 31-12-2018 | abbreviated format | 07-06-2019 | 2019-16900336 |
| 31-12-2017 | abbreviated format | 06-06-2018 | 2018-16300472 |
| 31-12-2016 | abbreviated format | 27-06-2017 | 2017-22400505 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Stefan Cuyvers |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
24-04
Gazette deed
Appointment: Stefan Cuyvers (director)Permanent representative: Stefan Cuyvers · Amendment of the articles · Capital conversion7 facts ▸
- General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital conversion, “van rechtswege omgezet, artikel 39,§2,tweede lid wet 23-03-2019” (deed in Dutch)
- Capital conversion, “volledige opheffing statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Registered office clause, “bevestiging adres zetel, 2400 Mol, Ezaartveld 80” (deed in Dutch)
- Director appointment, Stefan Cuyvers (director (not named in the articles))
- Permanent representative, Stefan Cuyvers
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13433E0165/00M000 | Flanders | 575 m² | 1 · 111 m² | 8.4 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SYSTEM CREATOR
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Iedere bestuurder vertegenwoordigt de vennootschap jegens derden en in rechte als eiser of als verweerder. Iedere bestuurder kan bijzondere…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Één of meer bestuurders, natuurlijke personen of rechtspersonen,al dan niet aandeelhouder” (deed in Dutch)“Algemene vergadering die bestuurder(s) benoemt, onbepaalde duur bij gebrek aan bepaling duurtijd” (deed in Dutch)“Bevoegdheden van het bestuursorgaan, behalve deze die wet of statuten aan algemene vergadering voorbehouden” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Saturday of June