Checked.be
Active
BE 0436.766.551Public limited company
SYSTEMIC
Rue des Anges 3 ·4000 Liège, Belgium· 37 yrs active
Sector: Computer programming
(62100)
Conclusion
SYSTEMIC has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €97k and a net result of €4k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 85% of 2591 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €97k |
| Net result | €4k |
| Better than sector | 85% |
| Active | 37 yrs |
Financial profile
76
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
18
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1989, 37 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€8k
estimate, not credit advice
Score history
65
2021
86
2022
78
2023
78
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 100.74 (≥ 1.5)
+10
Quick ratio
Quick ratio 100.74 (≥ 1.0)
+5
Leverage
Debt/equity 0.01 (< 1.0)
+10
Profitability
ROE 4%
+3
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 06-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 5 fiscal years (±2.3%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 84.8% | 46.0% | |
| Net result | €4k | €24k | |
| Equity | €97k | €141k | |
| Gross operating margin | €-6k | €90k | |
| Total assets | €115k | €397k |
€4k
+176.8%
21-25
€115k
+3.2%
21-25
€97k
+3.8%
21-25
€114k
+3.3%
21-25
€1k
-2.8%
21-25
€1k
-2.8%
21-25
100.74
+6.2%
21-25
100.74
+6.2%
21-25
84.8%
+0.6%
21-25
0.01
-6.4%
21-25
3.7%
+166.7%
21-25
3.1%
+168.3%
21-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | - | - | - |
| Net profit | +176.8% | -24.9% | -26.4% | - | - |
| Cash flow | - | - | - | - | - |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | +3.2% | +1.1% | +1.2% | +2.6% | - |
| Equity | +3.8% | +1.4% | +1.9% | +2.6% | - |
| Debt | -2.8% | -2.2% | -27.9% | +37.1% | - |
| of which ≤ 1y | -2.8% | -2.2% | -27.9% | +37.1% | - |
| of which > 1y | - | - | - | - | - |
| Working capital | +3.3% | +1.2% | +1.6% | +2.2% | - |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 100.74 | 94.85 | 91.68 | 65.31 | 87.24 |
| Quick ratio | 100.74 | 94.85 | 91.68 | 65.31 | 87.24 |
| Working capital ratio | 99.0% | 98.9% | 98.9% | 98.4% | 98.8% |
| Solvency | 84.8% | 84.3% | 84.1% | 83.4% | 83.4% |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | - | - | - | - | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 3.1% | 1.2% | 1.6% | 2.1% | -0.9% |
| ROE | 3.7% | 1.4% | 1.9% | 2.6% | -1.1% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €115k | €111k | €110k | €109k | €106k |
| Fixed assets | 21/28 | €0 | €50 | €50 | €50 | €50 |
| Financial fixed assets | 28 | €0 | €50 | €50 | €50 | €50 |
| Current assets | 29/58 | €115k | €111k | €110k | €109k | €106k |
| Amounts receivable within one year | 40/41 | €2k | €3k | €3k | €2k | €2k |
| Investments | 50/53 | €68k | €53k | €48k | €53k | €52k |
| Cash & bank | 54/58 | €45k | €56k | €59k | €54k | €52k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €115k | €111k | €110k | €109k | €106k |
| Equity | 10/15 | €97k | €94k | €93k | €91k | €89k |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €62k | €62k |
| Reserves | 13 | €32k | €32k | €31k | €29k | €27k |
| Accumulated profits (losses) | 14 | €3k | - | - | - | - |
| Provisions & deferred taxes | 16 | €16k | €16k | €16k | €16k | €16k |
| Amounts payable | 17/49 | €1k | €1k | €1k | €2k | €1k |
| Amounts payable within one year | 42/48 | €1k | €1k | €1k | €2k | €1k |
| Trade debts payable within one year | 44 | €740 | €1k | €1k | €1k | €777 |
| Income statement | ||||||
| Gross operating margin | 9900 | €-6k | €-6k | €-3k | €-3k | €-2k |
| Operating result | 9901 | €-6k | €-6k | €-3k | €-3k | €-2k |
| Financial income | 75 | €10k | €7k | €5k | €6k | €2k |
| Financial charges | 65 | €920 | €419 | €324 | €413 | €206 |
| Result before taxes | 9903 | €4k | €1k | €2k | €2k | €-935 |
| Net result for the period | 9904 | €4k | €1k | €2k | €2k | €-935 |
| Result to be appropriated | 9905 | €4k | €1k | €2k | €2k | €-935 |
Legal Structure
| NACE primary | Computer programming(62100) |
| Legal form | Public limited company(014) |
| Incorporation | 20-02-1989 |
| Status | Active |
| Postal code | 4000 |
Establishment units
Rue des Anges 3, 4000 Liège
since 19892.042.488.616
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62805D0040/00V003 | Wallonia | 219 m² | 1 · 101 m² | 17.2 m · 5 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 6 days late
2025
31-12
Financial
Highest result since 2021net €4k ▲177%
Net result €4k, the highest in the series.
03-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
2024
28-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1 day late
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Computer programming, consultancy and related activities62010Computer programming6210072220
Names & trade names
| Legal nameFR | SYSTEMIC |
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