Equity
System Volt has made a profit in every financial year since 2021.
The dashed line is the sector median: 0.1% across 447 companies (NACE 26, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 26, micro). It does better than 87% of them on solvency, 88% on liquidity, 74% on profitability and 80% 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 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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).
In July 2024, 26,972 companies had the same profile as System Volt has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of System Volt itself is lower: < 0.1% within 12 months. It rests on far more data about System Volt than the profile alone.
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 26,972 companies, not a prediction for System Volt. 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.
Liquidity is ample, with a current ratio of 4.26 (3.07 in 2024), above the usual 1.5. Short-term debt is 23.5% and cash 43% of total assets. 23.5% of the assets are financed with debt and provisions.
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.
The company filed its last 5 accounts on average 23 days before the deadline. In the sector (NACE 26), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| System Volt Sint-Niklaas | €51,773 | €58,176 | 76.5% | - |
| Enthrust Energy Zaventem | €96,389 | €77,372 | 98.3% | - |
| DCINERGY Aarschot | €96,499 | €102,369 | 10.4% | - |
| DC Research and Development Sint-Genesius-Rode | €103,259 | €52,519 | 37.8% | - |
| Yada Studio Evere | €59,436 | €21,955 | -407.7% | - |
| S-Tronics Ledegem | €119,025 | €51,411 | 2.5% | - |
| ARTS-KAAN Schaerbeek | €33,166 | €19,263 | 12.9% | - |
These companies have the same main activity as System Volt: manufacture of computer, electronic and optical products (NACE 26110). They are comparable in size and age: total assets between €33,200 and €119,000, founded between 2016 and 2021.
System Volt files the micro format. That format states no turnover. The gross margin rose from €4,394 in 2021 to €58,176 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €180,000. Estimated: probably between €120,000 and €300,000.
Higher than 79% of 251 companies in 2025.
Higher than 76% of 237 companies in 2025.
Higher than 72% of 240 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
51,773 | 46,333 | 25,112 | 21,839 | 20,703 | |
21/28 |
- | 161 | 807 | 2,876 | 2,097 | |
22/27 |
- | 161 | 807 | 2,876 | 2,097 | |
23 |
- | 161 | 807 | 1,452 | 2,097 | |
24 |
- | - | - | 1,424 | - | |
29/58 |
51,773 | 46,171 | 24,305 | 18,964 | 18,606 | |
40/41 |
29,501 | 29,417 | 15,370 | 10,572 | 3,993 | |
40 |
12,870 | 13,333 | 13,595 | 9,734 | 2,900 | |
41 |
16,632 | 16,084 | 1,775 | 838 | 1,094 | |
54/58 |
22,272 | 16,754 | 8,935 | 7,636 | 13,549 | |
490/1 |
- | - | - | 756 | 1,064 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
51,773 | 46,333 | 25,112 | 21,839 | 20,703 | |
10/15 |
39,619 | 31,294 | 17,037 | 9,156 | 6,902 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
29,000 | 21,000 | 7,500 | - | - | |
133 |
29,000 | 21,000 | 7,500 | - | - | |
14 |
4,419 | 4,094 | 3,337 | 2,956 | 702 | |
17/49 |
12,154 | 15,038 | 8,075 | 12,683 | 13,801 | |
42/48 |
12,154 | 15,038 | 8,075 | 12,683 | 13,801 | |
43 |
423 | - | - | - | - | |
430/8 |
423 | - | - | - | - | |
44 |
5,160 | 1,500 | 1,500 | 3,416 | 3,716 | |
440/4 |
5,160 | 1,500 | 1,500 | 3,416 | 3,716 | |
45 |
6,572 | 13,538 | 6,519 | 2,519 | 1,596 | |
450/3 |
527 | 7,915 | 6,519 | 2,519 | 1,596 | |
454/9 |
6,045 | 5,623 | - | - | - | |
47/48 |
- | - | 56 | 6,748 | 8,489 | |
| Income statement | ||||||
76A |
- | - | 229 | - | - | |
9900 |
58,176 | 64,481 | 19,712 | 5,983 | 4,394 | |
62 |
42,708 | 39,163 | 2,786 | - | - | |
630 |
161 | 645 | 645 | 874 | 1,129 | |
640/8 |
1,098 | 1,369 | 2,476 | 467 | 599 | |
9901 |
14,208 | 23,303 | 13,805 | 4,641 | 2,665 | |
75/76B |
812 | 510 | 90 | 58 | 147 | |
75 |
812 | 510 | 90 | 58 | 147 | |
65/66B |
2,618 | 3,072 | 2,014 | 979 | 1,361 | |
65 |
2,618 | 3,072 | 2,014 | 979 | 1,361 | |
9903 |
12,403 | 20,741 | 11,881 | 3,720 | 1,452 | |
67/77 |
4,078 | 6,484 | 4,000 | 1,466 | 750 | |
9904 |
8,324 | 14,257 | 7,881 | 2,254 | 702 | |
9905 |
8,324 | 14,257 | 7,881 | 2,254 | 702 | |
| Appropriation of the result | ||||||
9906 |
12,419 | 17,594 | 10,837 | 2,956 | 702 | |
14P |
4,094 | 3,337 | 2,956 | 702 | - | |
691/2 |
8,000 | 13,500 | 7,500 | - | - | |
6921 |
8,000 | 13,500 | 7,500 | - | - | |
| Social balance sheet | ||||||
9087 |
1 | 0.9 | - | - | - | |
Hours worked1013 |
1,444 | 1,355 | - | - | - | |
| Document | ||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 21-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 21-01-2026 | 2026-00012028 | |
| 30-06-2024 | micro format | 08-01-2025 | 2025-00002411 | |
| 30-06-2023 | micro format | 10-01-2024 | 2024-00002863 | |
| 30-06-2022 | micro format | 29-12-2022 | 2022-20550033 | |
| 30-06-2021 | micro format | 03-01-2022 | 2022-00100363 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 14,369 | 23,949 | 14,451 | 5,516 | 3,795 | ||
| 8,486 | 14,902 | 8,526 | 3,129 | 1,831 | ||
| 0 | 0 | -1,424 | 1,653 | 3,226 | ||
| 5,517 | 7,819 | 1,300 | -5,913 | - | ||
| 39,619 | 31,133 | 16,231 | 6,280 | 4,805 | ||
| 76.5% | 67.5% | 67.8% | 41.9% | 33.3% | ||
| 4.26 | 3.07 | 3.01 | 1.50 | 1.35 | ||
| 0.31 | 0.48 | 0.47 | 1.39 | 2.00 | ||
| 21.0% | 45.6% | 46.3% | 24.6% | 10.2% | ||
| 16.1% | 30.8% | 31.4% | 10.3% | 3.4% | ||
| 5.49 | 7.80 | 7.17 | 5.63 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-06-2025 | 30-06-2024 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| 1 | 0.9 | |
| On a permanent contract | 1 | 1 |
Source: social balance sheet in the 2024 to 2025 annual accounts
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,653 |
| €161 | €645 | €645 | €874 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 39% lower than in 2024.
Debt's share of the balance-sheet total falls from 32.5% to 23.5%. Equity is higher and debt is lower.
System Volt has no parent and no holdings in its annual accounts. VAN HIMSTE Daan is the only director. System Volt shares no director with another company.
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 24 September 2019, System Volt was incorporated as a private limited company by one natural person, with a starting capital of €6,200.12 In 2021 the registered office moved to Nieuwkerken-Waas.3 VAN HIMSTE Daan has served as director since 2019.4 Total assets went from €20,703 in 2021 to €51,773 in 2025.5
| Establishment | Since | Unit number |
|---|---|---|
| Vrasenestraat 149 registered office 9100 Sint-Niklaas | 24-09-2019 | 2.294.008.230 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 46017A0414/00K002 | 261 m² | 1 · 87 m² | 10.4 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0734.846.561
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