SYSTEM DEVELOPMENT AND ENGINEERING
ActiveSummary
SYSTEM DEVELOPMENT AND ENGINEERING has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €701,833 and a net result of €61,456. Equity is growing by about 6.6% per year across the filed financial years. Its solvency ranks better than 90% of 886 sector peers (NACE 52, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €701,833
- Profit
- €61,456
- Largest shareholder
- THE OAK - MANAGEMENT AND CONSULTANCY · 10%
- CELIS Serge Leon Hubert ReneDirector
- VAN HOVE Michèle Jeanine NadineDirector
Why 97raises riskSector: Warehousing and support activities for transportation (NACE 52)lowers riskLiquidity: current ratio 3.24, cash €357,244Equity €701,833 (85.6% of total assets)Founded in 1989Show the evidence
Checked score
Fewer than 1 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 52, micro): better than 90% on solvency, 94% on liquidity, 61% on profitability and 57% on growth.
The bankruptcy probability was computed on 28-10-2026 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 45 days before the deadline; the sector median (NACE 52) for financial year 2024 is 8 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · micro…
- Highest result from 2018 to 2025net €75,056 ▲460%
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 17% 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 52, Warehousing and support activities for transportation: 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 < 0.1% 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 | - | - | - | €566 | €1,807 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,271 | €34,044 | €22,132 | €22,912 | €33,851 | €28,607 | €31,539 | €41,491 | ▲ 31.6% |
| Other operating charges640/8 | - | - | - | €20,684 | €39,643 | €25,329 | €25,943 | €26,515 | ▲ 2.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €949 | - |
| Gross operating margin9900 | €93,690 | €87,079 | €85,908 | €77,300 | €112,667 | €71,759 | €156,789 | €151,258 | ▼ 3.5% |
| Operating profit (loss)9901 | €49,627 | €33,676 | €43,402 | €33,703 | €39,173 | €17,824 | €99,307 | €82,302 | ▼ 17.1% |
| Financial income75/76B | - | - | - | €354 | €3 | €172 | €301 | €351 | ▲ 16.6% |
| Recurring financial income75 | €667 | - | €352 | €354 | €3 | €172 | €301 | €351 | ▲ 16.6% |
| Financial charges65/66B | - | - | - | €518 | €424 | €24 | €36 | €62 | ▲ 70.4% |
| Recurring financial charges65 | €107 | €154 | €201 | €518 | €424 | €24 | €36 | €62 | ▲ 70.4% |
| Profit (loss) for the period before taxes9903 | €50,187 | €33,522 | €43,553 | €33,539 | €38,752 | €17,972 | €99,572 | €82,592 | ▼ 17.1% |
| Income taxes67/77 | €15,170 | €7,115 | €8,337 | €8,124 | €9,202 | €4,577 | €24,516 | €21,136 | ▼ 13.8% |
| Profit (loss) for the period9904 | €35,017 | €26,408 | €35,216 | €25,414 | €29,550 | €13,396 | €75,056 | €61,456 | ▼ 18.1% |
| Profit (loss) for the period to be appropriated9905 | €34,702 | €26,106 | €35,216 | €25,414 | €29,550 | €13,396 | €75,056 | €61,456 | ▼ 18.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €445,499 | €476,872 | €562,713 | €538,336 | €671,838 | €678,460 | €757,974 | €820,050 | ▲ 8.2% |
| Fixed assets21/28 | €258,962 | €274,933 | €302,058 | €286,136 | €495,852 | €471,050 | €479,097 | €437,606 | ▼ 8.7% |
| Tangible fixed assets22/27 | €258,962 | €274,933 | €302,058 | €286,136 | €495,852 | €471,050 | €479,097 | €437,606 | ▼ 8.7% |
| Land and buildings22 | - | - | - | €283,425 | €493,937 | €469,931 | €471,247 | €431,006 | ▼ 8.5% |
| Plant, machinery and equipment23 | - | - | - | €2,710 | €1,915 | €1,120 | €7,851 | €6,600 | ▼ 15.9% |
| Current assets29/58 | €186,536 | €201,939 | €260,656 | €252,201 | €175,986 | €207,410 | €278,876 | €382,444 | ▲ 37.1% |
| Amounts receivable within one year40/41 | €121,209 | €53,598 | €57,036 | €51,239 | €75,740 | €41,156 | €19,918 | €19,967 | ▲ 0.2% |
| Trade receivables40 | - | - | - | €15,536 | €75,740 | €41,156 | €19,918 | €19,967 | ▲ 0.2% |
| Other amounts receivable41 | - | - | - | €35,704 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €59,327 | €144,742 | €196,119 | €194,488 | €95,864 | €164,641 | €251,363 | €357,244 | ▲ 42.1% |
| Deferred charges and accrued income490/1 | - | - | - | €6,474 | €4,383 | €1,613 | €7,595 | €5,233 | ▼ 31.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €445,499 | €476,872 | €562,713 | €538,336 | €671,838 | €678,460 | €757,974 | €820,050 | ▲ 8.2% |
| Equity10/15 | €435,337 | €461,745 | €496,961 | €522,375 | €551,925 | €565,321 | €640,377 | €701,833 | ▲ 9.6% |
| Contributions10/11 | €83,264 | €83,264 | €83,264 | €83,264 | €83,264 | €83,264 | €83,264 | €83,264 | = |
| Capital10 | - | - | - | €83,264 | €83,264 | €83,264 | €83,264 | €83,264 | = |
| Issued capital100 | - | - | - | €83,264 | €83,264 | €83,264 | €83,264 | €83,264 | = |
| Reserves13 | €352,073 | €378,480 | €413,696 | €439,111 | €468,661 | €482,057 | €557,113 | €618,569 | ▲ 11.0% |
| Non-distributable reserves130/1 | - | - | - | €8,326 | €8,326 | €8,326 | €8,326 | €8,326 | = |
| Legal reserve130 | - | - | - | €8,326 | €8,326 | €8,326 | €8,326 | €8,326 | = |
| Tax-exempt reserves132 | - | - | - | €616 | €616 | €616 | €616 | €616 | = |
| Distributable reserves133 | - | - | - | €430,168 | €459,719 | €473,114 | €548,170 | €609,626 | ▲ 11.2% |
| Amounts payable17/49 | €10,162 | €15,127 | €65,753 | €15,961 | €119,912 | €113,139 | €117,597 | €118,217 | ▲ 0.5% |
| Amounts payable within one year42/48 | €10,162 | €15,127 | €65,753 | €15,961 | €118,712 | €113,139 | €117,597 | €118,217 | ▲ 0.5% |
| Trade debts44 | €822 | €3,577 | €49,411 | €3,247 | €2,796 | €13,275 | €2,112 | €2,600 | ▲ 23.1% |
| Suppliers440/4 | - | - | - | €3,247 | €2,796 | €13,275 | €2,112 | €2,600 | ▲ 23.1% |
| Taxes, remuneration and social security45 | - | - | - | €12,714 | €15,916 | €9,864 | €25,485 | €25,617 | ▲ 0.5% |
| Taxes450/3 | - | - | - | €12,714 | €15,916 | €9,864 | €25,485 | €25,617 | ▲ 0.5% |
| Other amounts payable47/48 | - | - | - | - | €100,000 | €90,000 | €90,000 | €90,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,200 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,017 | €26,408 | €35,216 | €25,414 | €29,550 | €13,396 | €75,056 | €61,456 | ▼ 18.1% |
| + Depreciation and write-downs630 | €25,271 | €34,044 | €22,132 | €22,912 | €33,851 | €28,607 | €31,539 | €41,491 | ▲ 31.6% |
| Operating cash flow (approximation) | €60,288 | €60,451 | €57,348 | €48,326 | €63,401 | €42,002 | €106,595 | €102,947 | ▼ 3.4% |
| Investment in fixed assets (approximation) | - | -€50,014 | -€49,257 | -€6,990 | -€243,567 | -€3,806 | -€39,586 | -€0 | ▲ 100.0% |
| Change in cash | - | €85,415 | €51,378 | -€1,631 | -€98,624 | €68,777 | €86,723 | €105,881 | ▲ 22.1% |
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 36 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-06-2026 | 2026-00173342 |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00183244 |
| 31-12-2023 | micro format | 12-07-2024 | 2024-00246441 |
| 31-12-2022 | micro format | 24-05-2023 | 2023-00092704 |
| 31-12-2021 | micro format | 01-06-2022 | 2022-20040927 |
| 31-12-2020 | micro format | 28-05-2021 | 2021-15700588 |
| 31-12-2019 | micro format | 10-07-2020 | 2020-29000066 |
| 31-12-2018 | micro format | 21-05-2019 | 2019-13700554 |
| 31-12-2017 | micro format | 08-05-2018 | 2018-12300321 |
| 31-12-2016 | micro format | 22-05-2017 | 2017-12900413 |
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
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| CELIS Serge Leon Hubert Rene |
|
| VAN HOVE Michèle Jeanine Nadine |
|
Owners and capital
Owners
1 ownerOwners 1
-
10%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 24-01-2024 Capital stated in the deed · €83,264.39 · 582 shares
Group and network
Connections & network
2 current directorsThe board mandates are listed below; here you explore them as a network.
History
Acts, filings and financial milestones
24-01
Gazette deed
Resignations: CELIS Serge Leon Hubert Rene (director) and VAN HOVE Michèle Jeanine Nadine (director)Appointments: CELIS Serge Leon Hubert Rene (director) and VAN HOVE Michèle Jeanine Nadine (director) · Amendment of the articles · Capital12 facts ▸
- General meeting, “3890 Gingelom,Ambachtsweg 11, Rechtspersonenregister van Antwerpen,afdeling Hasselt” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital, €83,264.39
- Power of attorney, Frank DE WILDE
- Director resignation, CELIS Serge Leon Hubert Rene (director)
- Director resignation, VAN HOVE Michèle Jeanine Nadine (director)
- Director discharge, CELIS Serge Leon Hubert Rene
- Director discharge, VAN HOVE Michèle Jeanine Nadine
- Board rule, 2, “Vierde besluit” (deed in Dutch)
- Director appointment, CELIS Serge Leon Hubert Rene (director (not named in the articles))
- Director appointment, VAN HOVE Michèle Jeanine Nadine (director (not named in the articles))
- Registered office clause, “3890 Gingelom,Ambachtsweg 11, Vijfde besluit” (deed in Dutch)
Show earlier events
About the unread acts
Of the 8 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71044B0518/00E000 | Flanders | 2,717 m² | 1 · 608 m² | 6.0 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 DEVELOPMENT AND ENGINEERING
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, administratieve zetels,agentschappen,ateliers,opslagplaatsen en bijhuizen oprichten of opheffen wanneer en waar nodig,zowel…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Artikel 18. Vertegenwoordiging van de vennootschap 1. Alle akten die de vennootschap verbinden, in en buiten rechte, zijn geldig wanneer zij…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Herstemming tussen (twee) kandidaten met meeste stemmen indien geen meerderheid, hoogstens zes jaar” (deed in Dutch)“Mandaat niet bezoldigd, vergoeding bestuurders” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Onder levenden of bij overlijden” (deed in Dutch)
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Ontbinding om welke reden en op welk ogenblik ook, vereffening door één of meer vereffenaars benoemd door algemene vergadering” (deed in Dutch)“Bevoegd tot alle verrichtingen vermeld in wet tenzij algemene vergadering anders besluit bij gewone meerderheid van stemmen, bevoegdheden…” (deed in Dutch)