Equity
SYSTEMD paid out €45,000 in dividends. That is 65% of the 2025 profit.
SYSTEMD paid out €45,000 in dividends. That is 65% of the 2025 profit.
The last five annual accounts were filed 40 to 53 days before the end of the period.
Higher net result than 90% of companies in wholesale trade. Sector median €5,606 · 13,811 companies.
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, 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 46, micro). It does better than 72% of them on solvency, 86% on liquidity, 95% on profitability and 76% 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, 34,693 companies had the same profile as SYSTEMD has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of SYSTEMD itself: < 0.1% within 12 months.
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 34,693 companies, not a prediction for SYSTEMD. 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 2.95 (2.21 in 2024), above the usual 1.5. Short-term debt is 33.7% and cash 60.8% of total assets. 33.7% 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 7 accounts on average 46 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SYSTEMD Anderlecht | €211,746 | €93,194 | 66.3% | - |
| Future Software Solutions Bilzen-Hoeselt | €246,709 | €115,813 | 38.1% | 2 |
| AIMHIGH Genk | €252,630 | €70,993 | 20.9% | - |
| INSETIS Anderlecht | €273,799 | €86,817 | 88.6% | - |
| VISITAC Schaerbeek | €173,953 | €59,641 | 73.8% | - |
| b32.be Grez-Doiceau | €166,676 | €101,283 | 24.9% | - |
| REALEASE CAPITAL BELGIUM Charleroi | €241,026 | €77,797 | 73.9% | 0 |
These companies have the same main activity as SYSTEMD: wholesale of information and communication equipment (NACE 46500). They are comparable in size and age: total assets between €167,000 and €274,000, founded between 2015 and 2016.
SYSTEMD files the micro format. That format states no turnover. The gross margin rose from €44,410 in 2016 to €93,194 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 ≈ €500,000. Estimated: probably between €250,000 and €880,000.
Higher than 71% of 13,805 companies in 2025.
Higher than 70% of 13,186 companies in 2025.
Higher than 91% of 13,365 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
211,746 | 211,163 | 180,007 | 153,724 | 111,933 | 85,028 | 97,862 | 91,706 | 77,144 | 71,501 | |
21/28 |
970 | 1,099 | 3,313 | 4,085 | 5,987 | 1,094 | 6,086 | 13,744 | 25,612 | 26,979 | |
22/27 |
970 | 1,099 | 3,313 | 4,085 | 5,987 | 1,094 | 6,086 | 13,744 | 25,612 | 26,979 | |
23 |
- | - | 220 | 380 | 210 | 609 | 410 | 833 | 1,740 | 225 | |
24 |
- | - | 1,864 | 3,705 | 5,778 | 485 | 1,000 | 2,000 | 4,252 | - | |
26 |
970 | 1,099 | 1,229 | - | - | - | 465 | 1,085 | 4,181 | 5,701 | |
29/58 |
210,776 | 210,064 | 176,694 | 149,639 | 105,946 | 83,934 | 91,776 | 77,962 | 51,532 | 44,521 | |
40/41 |
81,130 | 89,300 | 62,726 | 19,003 | 15,899 | 14,889 | 63,747 | 24,512 | 22,194 | 14,266 | |
40 |
71,690 | 87,297 | 52,179 | 17,861 | 15,863 | 13,230 | 57,618 | 24,365 | 21,699 | 14,266 | |
41 |
9,440 | 2,002 | 10,547 | 1,142 | 36 | 1,659 | 6,129 | 147 | 495 | - | |
54/58 |
128,798 | 120,115 | 111,950 | 128,363 | 87,772 | 66,823 | 25,768 | 51,139 | 27,545 | 28,469 | |
490/1 |
848 | 650 | 2,018 | 2,272 | 2,275 | 2,222 | 2,261 | 2,311 | 1,793 | 1,786 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
211,746 | 211,163 | 180,007 | 153,724 | 111,933 | 85,028 | 97,862 | 91,706 | 77,144 | 71,501 | |
10/15 |
140,331 | 116,036 | 81,977 | 86,211 | 54,649 | 51,105 | 43,715 | 10,449 | 35,299 | 16,084 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 10,500 | 10,500 | 10,500 | 6,500 | 6,500 | 6,500 | |
100 |
- | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 8,100 | 8,100 | 12,100 | 12,100 | 12,100 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
14 |
119,871 | 95,576 | 61,517 | 65,751 | 42,289 | 38,745 | 31,355 | 2,089 | 26,939 | 7,724 | |
17/49 |
71,415 | 95,128 | 98,030 | 67,512 | 57,284 | 33,924 | 54,147 | 81,257 | 41,845 | 55,416 | |
17 |
- | - | - | - | - | - | - | 8,878 | 13,922 | 18,916 | |
170/4 |
- | - | - | - | - | - | - | 8,878 | 13,922 | 18,916 | |
42/48 |
71,415 | 95,128 | 98,030 | 67,512 | 57,284 | 33,924 | 54,147 | 72,379 | 27,923 | 36,500 | |
42 |
- | - | - | - | - | - | 8,878 | 5,044 | 4,994 | 4,945 | |
44 |
8,506 | 29,891 | 40,977 | 8,192 | 1,832 | 14,185 | 16,208 | 5,117 | 10,842 | 3,428 | |
440/4 |
8,506 | 29,891 | 40,977 | 8,192 | 1,832 | 14,185 | 16,208 | 5,117 | 10,842 | 3,428 | |
45 |
17,267 | 24,237 | 8,542 | 11,214 | 19,504 | 9,738 | 10,227 | 12,218 | 10,736 | 13,868 | |
450/3 |
17,267 | 24,237 | 8,542 | 11,214 | 19,504 | 9,738 | 10,227 | 12,218 | 10,736 | 13,868 | |
47/48 |
45,641 | 41,000 | 48,510 | 48,106 | 35,948 | 10,000 | 18,834 | 50,000 | 1,351 | 14,259 | |
| Income statement | |||||||||||
76A |
- | 8,648 | - | - | - | - | - | - | - | - | |
9900 |
93,194 | 103,046 | 60,876 | 97,897 | 53,812 | 33,117 | 64,573 | 51,574 | 39,713 | 44,410 | |
630 |
130 | 2,214 | 2,057 | 2,369 | 663 | 6,314 | 8,270 | 8,142 | 9,686 | 9,076 | |
640/8 |
- | - | 63 | - | - | - | - | - | 10 | 2 | |
66A |
- | - | 10 | - | - | - | - | 3,727 | - | - | |
9901 |
93,065 | 100,832 | 58,745 | 95,527 | 53,149 | 26,803 | 56,304 | 39,705 | 30,017 | 35,332 | |
75/76B |
688 | 463 | 0 | 3 | 3 | 9 | 5 | 0 | - | 3 | |
75 |
688 | 463 | 0 | 3 | 3 | 9 | 5 | 0 | - | 3 | |
65/66B |
181 | 285 | 84 | 132 | 88 | 200 | 81 | 118 | 67 | 33 | |
65 |
181 | 285 | 84 | 132 | 88 | 200 | 81 | 118 | 67 | 33 | |
9903 |
93,572 | 101,010 | 58,661 | 95,398 | 53,064 | 26,612 | 56,228 | 39,588 | 29,950 | 35,302 | |
67/77 |
24,276 | 25,952 | 15,895 | 24,936 | 14,219 | 9,222 | 11,961 | 14,438 | 10,736 | 13,718 | |
9904 |
69,295 | 75,059 | 42,766 | 70,462 | 38,845 | 17,390 | 44,266 | 25,150 | 19,214 | 21,584 | |
9905 |
69,295 | 75,059 | 42,766 | 70,462 | 38,845 | 17,390 | 44,266 | 25,150 | 19,214 | 21,584 | |
| Appropriation of the result | |||||||||||
9906 |
164,871 | 136,576 | 108,517 | 112,751 | 77,589 | 48,745 | 46,355 | 52,089 | 26,939 | 21,584 | |
14P |
95,576 | 61,517 | 65,751 | 42,289 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
694/7 |
45,000 | 41,000 | 47,000 | 47,000 | 35,300 | 10,000 | 15,000 | 50,000 | - | 12,000 | |
694 |
45,000 | 41,000 | 47,000 | 47,000 | 35,300 | 10,000 | 15,000 | 50,000 | - | 12,000 | |
| 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 16-12-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 16-12-2025 | 2025-00582320 | |
| 30-06-2024 | micro format | 19-12-2024 | 2024-00619595 | |
| 30-06-2023 | micro format | 22-12-2023 | 2023-00534937 | |
| 30-06-2022 | micro format | 09-12-2022 | 2022-20534599 | |
| 30-06-2021 | micro format | 16-12-2021 | 2021-80500344 | |
| 30-06-2020 | micro format | 14-12-2020 | 2020-75500455 | |
| 30-06-2019 | micro format | 16-12-2019 | 2019-76200499 | |
| 30-06-2018 | micro format | 03-12-2018 | 2018-73500434 | |
| 30-06-2017 | micro format | 11-12-2017 | 2017-71600155 | |
| 30-06-2016 | full format | 07-12-2016 | 2016-69600183 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 93,194 | 103,046 | 60,802 | 97,897 | 53,812 | 33,117 | 64,573 | 47,847 | 39,703 | 44,408 | ||
| 69,425 | 77,272 | 44,823 | 72,831 | 39,508 | 23,704 | 52,536 | 33,292 | 28,900 | 30,660 | ||
| 0 | 0 | 1,295 | 467 | 5,557 | 1,323 | 612 | -3,727 | 8,319 | 36,055 | ||
| 8,683 | 8,165 | -16,413 | 40,591 | 20,949 | 41,055 | -25,371 | 23,594 | -924 | - | ||
| 139,361 | 114,937 | 78,664 | 82,126 | 48,662 | 50,010 | 37,629 | 5,583 | 23,609 | 8,021 | ||
| 66.3% | 55.0% | 45.5% | 56.1% | 48.8% | 60.1% | 44.7% | 11.4% | 45.8% | 22.5% | ||
| 2.95 | 2.21 | 1.80 | 2.22 | 1.85 | 2.47 | 1.69 | 1.08 | 1.85 | 1.22 | ||
| 0.51 | 0.82 | 1.20 | 0.78 | 1.05 | 0.66 | 1.24 | 7.78 | 1.19 | 3.45 | ||
| 49.4% | 64.7% | 52.2% | 81.7% | 71.1% | 34.0% | 101.3% | 240.7% | 54.4% | 134.2% | ||
| 32.7% | 35.5% | 23.8% | 45.8% | 34.7% | 20.5% | 45.2% | 27.4% | 24.9% | 30.2% | ||
| over 100 | over 100 | over 100 | over 100 | - | - | - | - | - | - |
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 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,295 | €467 |
| €130 | €2,214 | €2,057 | €2,369 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 8% lower than in 2024.
Debt's share of the balance-sheet total falls from 45.0% to 33.7%. Equity is higher and debt is lower.
SYSTEMD has no parent and no holdings in its annual accounts. HENRARD David Daniel is the only director. SYSTEMD shares no director with another company.
| ADIFISC
registered office since 01-08-2022 · founded in 2021 |
total assets €202,824 (2025) 0767.408.174 |
| JYMT SOLUTIONS
registered office since 28-05-2025 · founded in 2025 |
total assets €55,029 (2025) 1023.809.066 |
| Bourgeois, Maxime (sole trader)
establishment since 01-07-2025 |
founded in 2025 1025.200.126 |
| Massart, Jérémy (sole trader)
establishment since 01-04-2019 |
founded in 2019 0723.879.722 |
| Offshore Sailing Service
registered office since 10-05-1978 |
founded in 1978 0418.674.071 |
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
“La société a pour objet le commerce de matériel informatique et électronique de toute nature en ce compris toutes les activités annexes telles que la conception,la réalisation et la commercialisation de logiciels et programmes,la production,l’entretien et la maintenance de matériel électronique et informatique,cette énumération étant exemplative et non limitative.”
| Establishment | Since | Unit number |
|---|---|---|
| Klaterboslaan 20 registered office 1070 Anderlecht | 03-07-2015 | 2.243.185.574 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21308H0322/00D000 | 3,217 m² | 1 · 318 m² | 17.2 m · 5 |
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