SYSTEM DEVELOPMENT AND SIMULATION
ActiveSummary
SYSTEM DEVELOPMENT AND SIMULATION has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €259k and a net result of €94k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 80% of 9494 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 4.81 against 3.89 in 2024; short-term debt: 18.3% and cash: 72.9% of total assets), and 18.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.7%
Return on assets
29.6%
Age of the figures
15 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €259k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-01-2026, 8 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
8 d early
2024
7 d early
2023
9 d early
2022
6 d early
2021
4 d early
2020
4 d early
2019
4 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€259k▲ 56.1%
2024 · €166k
Total assets
€317k▲ 53.2%
2024 · €207k
Net result
€94k▲ 17.3%
2024 · €80k
Working capital
€221k▲ 86.9%
2024 · €118k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€20k€-7k€119k€112k▼ 5.9%€132k▲ 18.0%
Net result€16k€-7k€81k€80k▼ 1.1%€94k▲ 17.3%
Equity€19k▲ 384%€12k▼ 39.9%€92k▲ 688%€166k▲ 80.7%€259k▲ 56.1%
Total assets€33k▲ 138%€18k▼ 46.8%€147k▲ 733%€207k▲ 41.2%€317k▲ 53.2%
Debt€14k▲ 38.7%€6k▼ 56.7%€55k▲ 823%€41k▼ 25.1%€58k▲ 41.7%
Working capital€19k▲ 526%€12k▼ 39.2%€92k▲ 688%€118k▲ 28.8%€221k▲ 86.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 18% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €317k
Fixed assets
€38k ▼ 20.4%
Current assets
€279k ▲ 75.3%
Equity and liabilities €317k
Equity
€259k ▲ 56.1%
Debt
€58k ▲ 41.7%
Debt's share of the balance-sheet total falls from 19.8% to 18.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€142k▲
2024 · €113k
Cash flow
€104k▲
2024 · €81k
Current ratio
4.81▲
2024 · 3.89
Debt to equity
0.22▼
2024 · 0.25
ROE
36.3%▼
2024 · 48.3%
ROA
29.6%▼
2024 · 38.7%
Interest coverage
2386.89▲
2024 · 2194.04
Debt ≤ 1 year
€58k▲
2024 · €41k
Income taxes
€38k▲
2024 · €32k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €927 | €232 | - | €1k | €10k | ▲ 815% |
| Other operating charges640/8 | - | €62 | €62 | €107 | €62 | ▼ 42.1% |
| Gross operating margin9900 | €21k | €-7k | €119k | €113k | €142k | ▲ 25.4% |
| Operating profit (loss)9901 | €20k | €-7k | €119k | €112k | €132k | ▲ 18.0% |
| Financial income75/76B | - | - | - | €1 | - | - |
| Recurring financial income75 | - | - | - | €1 | - | - |
| Financial charges65/66B | - | €40 | €116 | €52 | €59 | ▲ 15.3% |
| Recurring financial charges65 | €32 | €40 | €116 | €52 | €59 | ▲ 15.3% |
| Profit (loss) for the period before taxes9903 | €20k | €-7k | €119k | €112k | €132k | ▲ 18.0% |
| Income taxes67/77 | €4k | - | €38k | €32k | €38k | ▲ 19.6% |
| Profit (loss) for the period9904 | €16k | €-7k | €81k | €80k | €94k | ▲ 17.3% |
| Profit (loss) for the period to be appropriated9905 | €16k | €-7k | €81k | €80k | €94k | ▲ 17.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €33k | €18k | €147k | €207k | €317k | ▲ 53.2% |
| Fixed assets21/28 | €232 | - | - | €48k | €38k | ▼ 20.4% |
| Tangible fixed assets22/27 | €232 | - | - | €48k | €38k | ▼ 20.4% |
| Furniture and vehicles24 | - | - | - | €48k | €38k | ▼ 20.4% |
| Current assets29/58 | €33k | €18k | €147k | €159k | €279k | ▲ 75.3% |
| Amounts receivable within one year40/41 | €6k | €589 | €76k | €75k | €48k | ▼ 35.7% |
| Trade receivables40 | - | - | €76k | €74k | €48k | ▼ 34.7% |
| Other amounts receivable41 | - | €589 | - | €1k | - | - |
| Cash at bank and in hand54/58 | €26k | €17k | €70k | €85k | €231k | ▲ 173% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €33k | €18k | €147k | €207k | €317k | ▲ 53.2% |
| Equity10/15 | €19k | €12k | €92k | €166k | €259k | ▲ 56.1% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €25k | €24k | €105k | €179k | €272k | ▲ 52.1% |
| Non-distributable reserves130/1 | - | €300 | €300 | - | - | - |
| Reserves not available under the articles1311 | - | €300 | €300 | - | - | - |
| Tax-exempt reserves132 | - | €5k | €5k | €5k | €5k | = |
| Distributable reserves133 | - | €19k | €100k | €174k | €267k | ▲ 53.5% |
| Profit (loss) carried forward14 | €-12k | €-19k | €-19k | €-19k | €-19k | = |
| Amounts payable17/49 | €14k | €6k | €55k | €41k | €58k | ▲ 41.7% |
| Amounts payable within one year42/48 | €14k | €6k | €55k | €41k | €58k | ▲ 41.7% |
| Trade debts44 | €291 | €10 | €2k | €2k | €2k | ▼ 29.7% |
| Suppliers440/4 | - | €10 | €2k | €2k | €2k | ▼ 29.7% |
| Taxes, remuneration and social security45 | - | €160 | €41k | €16k | €30k | ▲ 86.4% |
| Taxes450/3 | - | €160 | €41k | €16k | €30k | ▲ 86.4% |
| Other amounts payable47/48 | - | €6k | €12k | €23k | €27k | ▲ 17.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €-7k | €81k | €80k | €94k | ▲ 17.3% |
| + Depreciation and write-downs630 | €927 | €232 | - | €1k | €10k | ▲ 815% |
| Operating cash flow (approximation) | €17k | €-7k | €81k | €81k | €104k | ▲ 27.8% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | €-9k | €53k | €14k | €147k | ▲ 923% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €94k ▲17.3%
Operating result €132k, net result €94k, both a record.
30-06
Financial
Equity above €200kEq €259k ▲56.1%
3 profitable years in a row build equity to €259k.
24-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Equity above €150kEq €166k ▲80.7%
2 profitable years in a row build equity to €166k.
22-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €81k
Net result €81k after one loss-making year.
25-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 2016
Ground area
178 m²
Building footprint
59 m²
Volume, LiDAR
397 m³
Parcel 71324E0544/00F003, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SYSTEM DEVELOPMENT AND SIMULATION
since 20162.257.465.360
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71324E0544/00F003 | Flanders | 178 m² | 1 · 59 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,561. 4,983 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-10-2016
Fiscal year end30-06
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
68121Development of residential building projects
43222Installation of electric heating, air conditioning, cooling and ventilation
62900Other information technology and computer services
77400Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.