SYSTEMAT CLOUD SOLUTIONS
InactiveFinancials · financial year 2025, full format
2025 annual accounts filed 61 days after the deadline Filed on 12 August 2026, deadline 12 June 2026 (7 months after the close on 12 November 2025, Companies Code art. 3:10). Source: NBB, 2026-00409743.
Annual accounts 2025 filed on 12-08-2026 at the NBB all 11 filings
Turnover
€1.8m▼ 5.1%
2023 · €1.9m
EBIT margin
-34.5%▲ 15.6pp
2023 · -50.1%
Net result
€45,787
2024 · -€792,706
Working capital
€132,969▲ 109%
2024 · €63,745
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€47,685
2025
20182025
Net result
€45,787
2025
20182025
EBIT margin
no figure
2025
20182025
Equity
€109,532
▲ 71.8%
2025
20182025
Total assets
€996,749
▲ 26.6%
2025
20182025
Debt
€887,217
▲ 22.6%
2025
20182025
Working capital
€132,969
▲ 109%
2025
20182025
Staff (FTE)
7.5
▼ 21.1%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.8m-€2.6m▲ 51.1%€3.9m▲ 48.9%€2.8m▼ 30.1%€2.2m▼ 19.5%€1.9m▼ 13.1%€1.8m▼ 5.1%
Operating result-€0.6m--€1.2m▼ 86.2%-€2.1m▼ 79.3%-€1.2m▲ 44.2%€2.4m-€1.0m-€0.6m▲ 34.6%€0.05m
Net result-€0.7m--€1.2m▼ 84.6%-€2.1m▼ 78.7%-€1.2m▲ 44.1%€2.2m-€1.1m-€0.8m▲ 29.0%€0.05m
EBIT margin-36.7%--45.2%▼ 8.5pp-54.4%▼ 9.2pp-43.4%▲ 11.0pp106.9%▲ 150.3pp-50.1%▼ 157.1pp-34.5%▲ 15.6pp
Equity-€1.4m--€2.6m▼ 85.0%-€4.8m▼ 82.1%-€6.0m▼ 25.2%-€3.7m▲ 37.7%-€3.8m▼ 3.1%€0.06m€0.1m▲ 71.8%
Total assets€0.8m-€0.6m▼ 22.2%€1.4m▲ 128%€1.0m▼ 31.0%€0.6m▼ 43.2%€0.4m▼ 24.9%€0.8m▲ 87.3%€1.0m▲ 26.6%
Debt€2.2m-€3.2m▲ 46.1%€6.2m▲ 91.0%€6.9m▲ 12.2%€4.3m▼ 38.5%€4.3m▼ 0.5%€0.7m▼ 83.0%€0.9m▲ 22.6%
Working capital-€1.7m--€2.9m▼ 69.2%-€5.4m▼ 86.5%-€6.4m▼ 18.2%-€4.0m▲ 38.3%-€3.9m▲ 0.9%€0.06m€0.1m▲ 109%
Staff (FTE)10.6-11.8▲ 11.3%13.5▲ 14.4%13.6▲ 0.7%11.9▼ 12.5%10.9▼ 8.4%9.5▼ 12.8%7.5▼ 21.1%
The operating result for 2025 is a profit of €47,685, after a loss of €631,446 in 2024.
Large changes and their cause
- 2024 Total assets +87% on 2023. Capital increase of €4,437,810 (Official Gazette 30-12-2024). Capital increase of €1,000,000 (Official Gazette 11-10-2024).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €996,749
Equity
€109,532 ▲ 71.8%
Debt
€887,217 ▲ 22.6%
Debt's share of the balance-sheet total falls from 91.9% to 89.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€47,685▲
2024 · -€532,840
Cash flow
€45,787▲
2024 · -€694,100
Current ratio
1.15▲
2024 · 1.09
Debt to equity
8.10▼
2024 · 11.35
ROE
41.8%
ROA
4.6%▲
2024 · -100.7%
Interest coverage
25.11▲
2024 · -3.37
Debt ≤ 1 year
€863,780▲
2024 · €723,795
Income taxes
€0▼
2024 · €1,746
Staff costs
€409,017▼
2024 · €925,557
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 14 | 12 | 10 | 9 |
| full-time | 11 | 9 | 9 | 8 |
| part-time | 3 | 3 | 1 | 1 |
| in full-time equivalents | 13.1 | 11.1 | 9.8 | 8.8 |
| Average over the year, in full-time equivalents | 13.6 | 11.9 | 10.9 | 9.5 |
| On a permanent contract | 14 | 12 | 10 | 9 |
| Joined | 5 | 2 | 2 | 0 |
| Left | 3 | 4 | 4 | 1 |
| Training hours | 249 | 135 | 132 | 320 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 12-11-2025 |
|---|---|---|---|---|---|
| Fee for the audit | €12,293 | €13,486 | €13,905 | €14,330 | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €2.8m | €5.4m | €2.0m | €1.9m | - | - |
| Turnover70 | €1.8m | €2.6m | €3.9m | €2.8m | €2.2m | €1.9m | €1.8m | - | - |
| Other operating income74 | - | - | - | €0.09m | €0.1m | €0.09m | €0.05m | - | - |
| Non-recurring operating income76A | - | - | - | - | €3.1m | - | - | - | - |
| Operating charges60/66A | - | - | - | €4.0m | €3.0m | €3.0m | €2.5m | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €1.9m | €1.3m | €1.1m | €1.2m | - | - |
| Purchases600/8 | - | - | - | €1.9m | €1.3m | €1.1m | €1.2m | - | - |
| Services and other goods61 | - | - | - | €0.9m | €0.5m | €0.4m | €0.3m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.0m | €1.0m | €1.3m | €0.9m | €0.4m | ▼ 55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.007m | €0.009m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €255 | - | - | €0.009m | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €0.009m | €0.004m | €0.006m | €109 | €200 | ▲ 83.2% |
| Gross operating margin9900 | - | - | - | - | - | - | - | €0.5m | - |
| Operating profit (loss)9901 | -€0.6m | -€1.2m | -€2.1m | -€1.2m | €2.4m | -€1.0m | -€0.6m | €0.05m | - |
| Financial income75/76B | - | - | - | €64 | €27 | €73 | €0 | €1 | ▲ 525% |
| Recurring financial income75 | €352 | €0 | €267 | €64 | €27 | €73 | €0 | €1 | ▲ 525% |
| Other financial income752/9 | - | - | - | €64 | €27 | €73 | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.002m | €0.001m | €0.1m | €0.2m | €0.002m | ▼ 98.8% |
| Recurring financial charges65 | €0.01m | €0.004m | €0.002m | €0.002m | €0.001m | €0.1m | €0.2m | €0.002m | ▼ 98.8% |
| Debt charges650 | €0.01m | €0.003m | €5 | €85 | €59 | €0.1m | €0.2m | - | - |
| Other financial charges652/9 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | - | - |
| Profit (loss) for the period before taxes9903 | -€0.7m | -€1.2m | -€2.1m | -€1.2m | €2.4m | -€1.1m | -€0.8m | €0.05m | - |
| Income taxes67/77 | -€0.003m | €0.002m | €0.002m | €0.002m | €0.1m | €0.002m | €0.002m | €0 | ▼ 100% |
| Taxes670/3 | - | - | - | €0.002m | €0.1m | €0.002m | €0.002m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €92 | - | €399 | - | - | - |
| Profit (loss) for the period9904 | -€0.7m | -€1.2m | -€2.1m | -€1.2m | €2.2m | -€1.1m | -€0.8m | €0.05m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.7m | -€1.2m | -€2.1m | -€1.2m | €2.2m | -€1.1m | -€0.8m | €0.05m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.6m | €1.4m | €1.0m | €0.6m | €0.4m | €0.8m | €1.0m | ▲ 26.6% |
| Fixed assets21/28 | €0.3m | €0.3m | €0.7m | €0.5m | €0.3m | €0.1m | €0 | - | - |
| Intangible fixed assets21 | - | - | €0.7m | €0.5m | €0.3m | €0.1m | €0 | - | - |
| Tangible fixed assets22/27 | €0.01m | €0.001m | €0.001m | €0.001m | €49 | €0 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0 | - | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €49 | €0 | - | - | - |
| Financial fixed assets28 | €0.3m | €0.3m | - | - | - | - | - | - | - |
| Current assets29/58 | €0.5m | €0.3m | €0.8m | €0.5m | €0.3m | €0.3m | €0.8m | €1.0m | ▲ 26.6% |
| Amounts receivable within one year40/41 | €0.1m | €0.3m | €0.7m | €0.5m | €0.3m | €0.3m | €0.2m | €0.9m | ▲ 410% |
| Trade receivables40 | - | - | - | €0.5m | €0.3m | €0.3m | €0.2m | €0.6m | ▲ 240% |
| Other amounts receivable41 | - | - | - | €0.003m | €0.006m | €0.004m | €0.004m | €0.3m | ▲ 91× |
| Cash at bank and in hand54/58 | €0.4m | €0.04m | €0.02m | €0.02m | €0.02m | €0.02m | €0.6m | €0.05m | ▼ 90.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.006m | €0.003m | €0.004m | €0.006m | ▲ 79.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.6m | €1.4m | €1.0m | €0.6m | €0.4m | €0.8m | €1.0m | ▲ 26.6% |
| Equity10/15 | -€1.4m | -€2.6m | -€4.8m | -€6.0m | -€3.7m | -€3.8m | €0.06m | €0.1m | ▲ 71.8% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €3.8m | €3.8m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €3.8m | €3.8m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €4.5m | €4.5m | = |
| Uncalled capital101 | - | - | - | - | - | - | €0.8m | €0.8m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€1.5m | -€2.7m | -€4.8m | -€6.0m | -€3.8m | -€3.9m | -€3.7m | -€3.7m | ▲ 1.2% |
| Amounts payable17/49 | €2.2m | €3.2m | €6.2m | €6.9m | €4.3m | €4.3m | €0.7m | €0.9m | ▲ 22.6% |
| Amounts payable within one year42/48 | €2.2m | €3.2m | €6.2m | €6.9m | €4.3m | €4.3m | €0.7m | €0.9m | ▲ 19.3% |
| Trade debts44 | €0.3m | €0.9m | €1.9m | €0.8m | €0.7m | €0.8m | €0.4m | €0.4m | ▲ 17.8% |
| Suppliers440/4 | - | - | - | €0.8m | €0.7m | €0.8m | €0.4m | €0.4m | ▲ 17.8% |
| Advances received on contracts in progress46 | - | - | - | €0.02m | €0.07m | €0.1m | €0.03m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 32.7% |
| Taxes450/3 | - | - | - | €0.04m | €0.2m | €0.03m | €0.04m | €0.01m | ▼ 74.8% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | ▼ 19.4% |
| Other amounts payable47/48 | - | - | - | €5.9m | €3.2m | €3.2m | €0.1m | €0.3m | ▲ 120% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €1 | €1 | €0.02m | ▲ 16,984× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.7m | -€1.2m | -€2.1m | -€1.2m | €2.2m | -€1.1m | -€0.8m | €0.05m | - |
| + Depreciation and write-downs630 | €0.007m | €0.009m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0 | ▼ 100% |
| Operating cash flow (approximation) | -€0.6m | -€1.2m | -€1.9m | -€1.0m | €2.5m | -€1.0m | -€0.7m | €0.05m | - |
| Investment in fixed assets (approximation) | - | €0 | -€0.6m | €0 | €0 | €0 | €0 | - | - |
| Change in cash | - | -€0.3m | -€0.02m | -€0.008m | €0.007m | -€0.008m | €0.6m | -€0.5m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 12-11-2025 | full format | 12-08-2026 | 2026-00409743 | |
| 31-12-2024 | full format | 04-06-2025 | 2025-00119952 | |
| 31-12-2023 | full format | 31-05-2024 | 2024-00109017 | |
| 31-12-2022 | full format | 22-05-2023 | 2023-00097135 | |
| 31-12-2021 | full format | 10-06-2022 | 2022-20070991 | |
| 31-12-2020 | full format | 03-06-2021 | 2021-17200532 | |
| 31-12-2019 | full format | 13-07-2020 | 2020-29500474 | |
| 31-12-2018 | full format | 19-08-2019 | 2019-48100280 | |
| 31-03-2018 | full format | 04-04-2019 | 2019-09600389 | |
| 31-03-2017 | full format | 13-11-2017 | 2017-69400441 |