Turnover
≈ €110,000 estimated
The accounts state no turnover.
SYSTHERM
Lifetime
19 annual accounts with figures on one time axispeak €49,093 (2012)
€25,281▲ 81.6%
lowest -€10,907 (2022)
€7,561▲ €8,580
peak €42,310 (2012)
€41,819▲ 22.1%
€36,555▼ 48.5%
peak 1 FTE (2013)
-not published
Board1 name since 2021
1 directorMorenville Karl
Documentsfilings and deeds
20-08-202620 days late
2025abbreviated format
Gross margin from €13,924 to €25,281Back to profit: €7,561Equity from €34,258 to €41,819Debts from €70,924 to €36,555Cash from €28,491 to €14,010
Key points
from the 2025 annual accountsFilings
19 annual accounts since 2007
Nine of the last ten came late. The 2019 accounts came latest: 31 days after the end of the period.
Position in the sector
€41,819
Less equity than 81% of companies in specialised construction. Sector median €250,150 · 9,975 companies.
Checked score
89
Excellent
Financially stronger than 63% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025lowest value
03-2025: 0.2%● unchanged vs 02-2025lowest value
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025
09-2025: 0.2%▼ -0.2 percentage points vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.5%▲ +0.3 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.3 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Size: total assets €78,374
Sector: Specialised construction activities (NACE 43)
lowers risk
Founded in 2006
Liquidity: current ratio 2.82, cash €14,010, halved
Calculation
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 43, micro). It does better than 58% of them on solvency, 63% on liquidity, 61% on profitability and 69% 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 31-12-2025.
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).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as SYSTHERM has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SYSTHERM itself: 0.2% within 12 months.
Test of the method
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 31,368 companies, not a prediction for SYSTHERM. 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.
Credit verdict
Credit of up to €3,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.82 (2.27 in 2024), above the usual 1.5. Short-term debt is 21.9% and cash 17.9% of total assets. 46.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
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
1819202122232425
2018 to 2025 · latest year €41,819
raises risk · 2025 accounts filed 20 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
20 days late
2024
21 days late
2023
26 days late
2022
29 days late
2021
19 days late
2020
26 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 25 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 21 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0883355739
Incorporation
published on 14-09-2006 · Gazette deed
First establishment
Rue de la Révolution 105, Charleroi
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SYSTHERM Charleroi | €78,374 | €25,281 | 53.4% | - |
| LINEA AG Tournai | €89,017 | €28,091 | 19.8% | - |
| BEUSERIE DAVID Frasnes-lez-Anvaing | €63,439 | €23,798 | 23.4% | - |
| EM MEDIATECTS Alken | €74,499 | €26,616 | 3.2% | - |
| JIMELEC Braine-l'Alleud | €87,638 | €25,841 | 66.3% | - |
| GECKOTHERM Tienen | €70,349 | €22,968 | -3.0% | - |
| AVERCO & CO Anzegem | €82,262 | €22,638 | 38.0% | - |
These companies have the same main activity as SYSTHERM: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €63,400 and €89,000, founded between 2005 and 2007.
Official details
Source: KBO- Status
- Active since 06-09-2006Normal situation
- Activity
- General electrical installation workNACE 43211and 2 others
- Establishment unit
- 2.157.020.9696040 Charleroi, since 06-09-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 01-09-2025
Insights on SYSTHERM
SYSTHERM files the abbreviated format. That format states no turnover. The gross margin rose from €16,883 in 2007 to €25,281 in 2025.
The balance sheet grew most from 2019 to 2020 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SYSTHERM
- What is the company number of SYSTHERM?
- The company number of SYSTHERM is 0883.355.739. The VAT number is the same number with BE in front: BE 0883.355.739.
- Where is SYSTHERM based?
- The registered office is at Rue de la Révolution 105, 6040 Charleroi.Company details
- What does SYSTHERM do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of SYSTHERM?
- SYSTHERM is a private limited company (pre-2019) (BVBA).
- When was SYSTHERM founded?
- SYSTHERM was founded on 06-09-2006.
- Is SYSTHERM still active?
- Yes, SYSTHERM is an active enterprise in the KBO register.
- What is the turnover of SYSTHERM?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €25,281 and 62 comparable companies (NACE 43211). It probably lies between €76,000 and €160,000. In financial year 2021 turnover was €158,941.Financials
- Is SYSTHERM profitable?
- In financial year 2025, SYSTHERM made a profit of €7,561.
- Where can I find the annual accounts of SYSTHERM?
- SYSTHERM filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SYSTHERM due?
- SYSTHERM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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