TOPTECH SYSTEMS
ActiveSummary
TOPTECH SYSTEMS has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of €923,089. Equity is shrinking by about 19% per year across the filed financial years. Its solvency ranks better than 49% of 3,858 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Activity
Business and other management consultancy
NACE 70200Computer programming NACE 62100
1 site
Size
€5.8mturnover 2025
- Staff
- 17.2 FTE
- Equity
- €2.1m
- Profit
- €923,089
Structure
- Parent
- Idex Corporation
- Board
- 4 members
- David VoglManaging director
Auditor: DELOITTE Bedrijfsrevisoren BV2025 accounts 29 days early
Why 97lowers riskLiquidity: current ratio 3.52, cash €3.0mProfit of €923,089 (financial year 2025)Size: turnover €5.8m, 17.2 FTE, total assets €4.0mEquity €2.1m (52.6% of total assets)Show the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 75% of its sector peers (NACE 70, small)
Financial strength · tick = 2024
Strong
Solvency
78+26
equity 52.6% of total assets
Liquidity
89+10
short-term debt 27.6% · cash 74.5%
Profitability
98+1
return on assets 22.9%
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.1%highest value
12-2024: 0.1%● unchanged vs 11-2024highest value
01-2025: 0.1%● unchanged vs 12-2024highest value
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: < 0.1%▼ -0.1 percentage points vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
Credit of up to €200,000 on 30-day terms is acceptable
Liquidity ample (current ratio 3.52, compared with 2.21 in 2024, above the usual 1.5; short-term debt: 27.6% and cash: 74.5% of total assets), and 47.4% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 70, small): better than 50% on solvency, 95% on liquidity, 94% on profitability and 60% on growth.
The bankruptcy probability was computed on 30-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Six signals.
lowers riskneutral
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 €2.1m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 days early
2024
58 days early
2023
27 days early
2022
54 days early
2021
30 days early
2020
31 days early
2019
25 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 36 days before the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% 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 1 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
31-10-2026 today31-12-2026 year end31-07-2027 deadline
- Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)Gazette deed
- Annual accounts filedfinancial year 2025 · full…
- Resignation: Jenna Michelle Myszak (director)Appointment: Emmy Maria Sjogren (director)…
Financials · financial year 2025, full format
Turnover
€5.8m▼ 5.1%
2024 · €6.1m
EBIT margin
21.7%▲ 1.4pp
2024 · 20.2%
Net result
€923,089▼ 0.7%
2024 · €929,448
Working capital
€2.8m▲ 18.0%
2024 · €2.4m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 2% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€5.8m
2025
Operating result€1.3m
2025
Net result€0.9m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€4.0m
2025
Equity€2.1m
2025
Debt€1.9m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€2.8m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin21.7%
2025
Return on assets (ROA)22.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency52.6%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.52
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)17.2
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€4.6m-€4.7m▲ 2.5%€8.9m▲ 88.3%€5.8m▼ 35.1%€6.0m▲ 4.3%€5.5m▼ 9.2%€6.1m▲ 11.8%€5.8m▼ 5.1%
Operating result€0.9m-€0.8m▼ 8.7%€0.5m▼ 31.3%€1.3m▲ 135%€1.5m▲ 16.8%€1.0m▼ 33.0%€1.2m▲ 25.1%€1.3m▲ 1.7%
Net result€0.5m-€0.6m▲ 10.4%€0.4mabove the sector's middle half▼ 34.4%€0.7mabove the sector's middle half▲ 90.4%€1.3mabove the sector's middle half▲ 73.2%€0.7mabove the sector's middle half▼ 43.0%€0.9mabove the sector's middle half▲ 28.0%€0.9mabove the sector's middle half▼ 0.7%
EBIT margin18.6%-16.6%▼ 2.0pp6.0%▼ 10.5pp21.9%▲ 15.9pp24.5%▲ 2.6pp18.1%▼ 6.4pp20.2%▲ 2.1pp21.7%▲ 1.4pp
Equity€4.6m-€5.2m▲ 12.7%€5.6mabove the sector's middle half▲ 7.4%€6.4mabove the sector's middle half▲ 13.1%€1.4mwithin the sector's middle half▼ 77.4%€0.3mwithin the sector's middle half▼ 81.6%€1.2mwithin the sector's middle half▲ 351%€2.1mwithin the sector's middle half▲ 77.3%
Total assets€6.0m-€6.6m▲ 8.7%€8.5mabove the sector's middle half▲ 29.9%€7.9mabove the sector's middle half▼ 7.6%€3.8mwithin the sector's middle half▼ 51.4%€4.7mwithin the sector's middle half▲ 23.3%€4.5mwithin the sector's middle half▼ 5.6%€4.0mwithin the sector's middle half▼ 9.8%
Debt€1.4m-€1.3m▼ 4.4%€2.9m▲ 118%€1.5m▼ 47.3%€2.4m▲ 55.8%€4.5m▲ 86.2%€3.3m▼ 26.8%€1.9m▼ 41.6%
Working capital€4.4m-€5.0m▲ 14.4%€5.5mabove the sector's middle half▲ 8.6%€6.5mabove the sector's middle half▲ 20.1%€1.9mabove the sector's middle half▼ 70.9%€1.6mabove the sector's middle half▼ 14.1%€2.4mabove the sector's middle half▲ 45.5%€2.8mabove the sector's middle half▲ 18.0%
Solvency76.8%-79.6%▲ 2.8pp65.8%within the sector's middle half▼ 13.8pp80.5%above the sector's middle half▲ 14.7pp37.5%within the sector's middle half▼ 43.0pp5.6%below the sector's middle half▼ 31.9pp26.7%within the sector's middle half▲ 21.1pp52.6%within the sector's middle half▲ 25.8pp
Current ratio4.46-5.30▲ 0.843.02above the sector's middle half▼ 2.296.07above the sector's middle half▲ 3.052.02within the sector's middle half▼ 4.051.54within the sector's middle half▼ 0.482.21within the sector's middle half▲ 0.673.52above the sector's middle half▲ 1.31
Return on assets (ROA)8.8%-8.9%▲ 0.1pp4.5%within the sector's middle half▼ 4.4pp9.3%within the sector's middle half▲ 4.8pp33.2%above the sector's middle half▲ 23.9pp15.3%above the sector's middle half▼ 17.8pp20.8%above the sector's middle half▲ 5.5pp22.9%above the sector's middle half▲ 2.1pp
Staff (FTE)16-16.6▲ 3.8%16.9above the sector's middle half▲ 1.8%18.3above the sector's middle half▲ 8.3%19.6above the sector's middle half▲ 7.1%17.7above the sector's middle half▼ 9.7%17.2above the sector's middle half▼ 2.8%17.2above the sector's middle half=
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€105,732 ▼ 11.4%
Current assets
€3.9m ▼ 9.8%
Equity and liabilities €4.0m
Equity
€2.1m ▲ 77.3%
Debt
€1.9m ▼ 41.6%
Debt's share of the balance-sheet total falls from 73.3% to 47.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.3m▲
2024 · €1.2m
Cash flow
€937,073▼
2024 · €938,143
Quick ratio
3.49▲
2024 · 2.18
Debt to equity
0.90▼
2024 · 2.74
ROE
43.6%▼
2024 · 77.8%
Interest coverage
over 100▲
2024 · 24.59
Debt ≤ 1 year
€1.1m▼
2024 · €2.0m
Income taxes
€347,362▼
2024 · €368,457
Staff costs
€2.6m▼
2024 · €3.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95.0%
still going
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,136 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €7.0m | €7.4m | €6.5m | €8.4m | €6.8m | ▼ 18.7% |
| Turnover70 | €4.6m | €4.7m | €8.9m | €5.8m | €6.0m | €5.5m | €6.1m | €5.8m | ▼ 5.1% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | -€0.003m | €0.07m | -€0.07m | €0.002m | - | - |
| Other operating income74 | - | - | - | €1.2m | €1.4m | €1.1m | €2.3m | €1.0m | ▼ 55.3% |
| Non-recurring operating income76A | - | - | - | €183 | - | - | - | - | - |
| Operating charges60/66A | - | - | - | €5.7m | €6.0m | €5.5m | €7.1m | €5.5m | ▼ 22.2% |
| Goods for resale, raw materials and consumables60 | - | - | - | €2.5m | €2.6m | €1.8m | €2.6m | €2.2m | ▼ 15.8% |
| Purchases600/8 | - | - | - | €2.5m | €2.6m | €1.8m | €2.6m | €2.2m | ▼ 16.6% |
| Change in stocks: decrease (increase)609 | - | - | - | €0.002m | -€0.009m | -€0.007m | -€0.001m | €0.02m | - |
| Services and other goods61 | - | - | - | €0.7m | €0.8m | €0.9m | €0.8m | €0.8m | ▼ 4.5% |
| Remuneration, social security and pensions62 | - | - | - | €2.5m | €2.6m | €2.8m | €3.6m | €2.6m | ▼ 29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €0.003m | €0.002m | €0.003m | €0.006m | €0.007m | €0.009m | €0.01m | ▲ 60.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.02m | -€0.02m | €0.01m | €0.03m | -€0.04m | - |
| Other operating charges640/8 | - | - | - | €0.04m | €0.002m | €0.03m | €0.001m | €0.001m | ▼ 10.3% |
| Operating profit (loss)9901 | €0.9m | €0.8m | €0.5m | €1.3m | €1.5m | €1.0m | €1.2m | €1.3m | ▲ 1.7% |
| Financial income75/76B | - | - | - | €0.1m | €0.5m | €0.09m | €0.1m | €0.05m | ▼ 53.5% |
| Recurring financial income75 | €0.04m | €0.1m | €0.1m | €0.1m | €0.5m | €0.09m | €0.1m | €0.05m | ▼ 53.5% |
| Income from current assets751 | - | - | - | - | €0.009m | €0.04m | €0.07m | €0.02m | ▼ 73.4% |
| Other financial income752/9 | - | - | - | €0.1m | €0.5m | €0.04m | €0.05m | €0.04m | ▼ 27.0% |
| Financial charges65/66B | - | - | - | €0.1m | €0.2m | €0.04m | €0.05m | €0.04m | ▼ 25.7% |
| Recurring financial charges65 | €0.1m | €0.05m | €0.3m | €0.1m | €0.2m | €0.04m | €0.05m | €0.04m | ▼ 25.7% |
| Debt charges650 | €0.001m | €0.002m | €0.004m | €0.01m | €0.007m | €32 | - | €0.001m | - |
| Other financial charges652/9 | - | - | - | €0.09m | €0.2m | €0.04m | €0.05m | €0.04m | ▼ 28.2% |
| Profit (loss) for the period before taxes9903 | €0.8m | €0.8m | €0.3m | €1.3m | €1.8m | €1.0m | €1.3m | €1.3m | ▼ 2.1% |
| Income taxes67/77 | €0.3m | €0.2m | -€0.09m | €0.5m | €0.5m | €0.3m | €0.4m | €0.3m | ▼ 5.7% |
| Taxes670/3 | - | - | - | €0.5m | €0.5m | €0.3m | €0.4m | €0.3m | ▼ 5.7% |
| Profit (loss) for the period9904 | €0.5m | €0.6m | €0.4m | €0.7m | €1.3m | €0.7m | €0.9m | €0.9m | ▼ 0.7% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.6m | €0.4m | €0.7m | €1.3m | €0.7m | €0.9m | €0.9m | ▼ 0.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €6.0m | €6.6m | €8.5m | €7.9m | €3.8m | €4.7m | €4.5m | €4.0m | ▼ 9.8% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.4m | €0.06m | €0.06m | €0.05m | €0.1m | €0.1m | ▼ 11.4% |
| Tangible fixed assets22/27 | €0.007m | €0.003m | €0.001m | €0.008m | €0.01m | €0.006m | €0.07m | €0.06m | ▼ 19.9% |
| Furniture and vehicles24 | - | - | - | €0.008m | €0.01m | €0.006m | €0.02m | €0.01m | ▼ 38.7% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.05m | €0.04m | ▼ 10.2% |
| Financial fixed assets28 | €0.4m | €0.4m | €0.4m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 0.7% |
| Other financial fixed assets284/8 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 0.7% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 0.7% |
| Current assets29/58 | €5.7m | €6.2m | €8.2m | €7.8m | €3.8m | €4.7m | €4.3m | €3.9m | ▼ 9.8% |
| Amounts receivable after more than one year29 | - | - | - | €3.0m | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €3.0m | - | - | - | - | - |
| Stocks and contracts in progress3 | €0.2m | €0.1m | €0.04m | €0.03m | €0.1m | €0.05m | €0.05m | €0.03m | ▼ 38.0% |
| Stocks30/36 | - | - | - | €0.03m | €0.1m | €0.05m | €0.05m | €0.03m | ▼ 38.0% |
| Work in progress32 | - | - | - | - | €0.07m | - | €0.002m | €0.002m | = |
| Goods purchased for resale34 | - | - | - | €0.03m | €0.04m | €0.05m | €0.05m | €0.03m | ▼ 39.6% |
| Amounts receivable within one year40/41 | €1.4m | €1.1m | €3.3m | €1.2m | €1.2m | €1.7m | €1.9m | €0.9m | ▼ 52.9% |
| Trade receivables40 | - | - | - | €1.2m | €1.2m | €1.7m | €1.8m | €0.9m | ▼ 51.2% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.002m | €0.07m | €0.09m | €0.009m | ▼ 89.2% |
| Cash at bank and in hand54/58 | €1.1m | €2.0m | €1.8m | €3.6m | €2.5m | €2.9m | €2.4m | €3.0m | ▲ 24.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.008m | €0.009m | €0.01m | €0.01m | ▲ 8.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €6.0m | €6.6m | €8.5m | €7.9m | €3.8m | €4.7m | €4.5m | €4.0m | ▼ 9.8% |
| Equity10/15 | €4.6m | €5.2m | €5.6m | €6.4m | €1.4m | €0.3m | €1.2m | €2.1m | ▲ 77.3% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Profit (loss) carried forward14 | €4.4m | €5.0m | €5.4m | €6.2m | €1.2m | €0.06m | €1.0m | €1.9m | ▲ 93.3% |
| Amounts payable17/49 | €1.4m | €1.3m | €2.9m | €1.5m | €2.4m | €4.5m | €3.3m | €1.9m | ▼ 41.6% |
| Amounts payable after more than one year17 | - | - | - | - | - | €0.006m | - | - | - |
| Advances received on contracts in progress176 | - | - | - | - | - | €0.006m | - | - | - |
| Amounts payable within one year42/48 | €1.3m | €1.2m | €2.7m | €1.3m | €1.9m | €3.0m | €2.0m | €1.1m | ▼ 43.4% |
| Trade debts44 | €0.5m | €0.5m | €2.2m | €0.4m | €0.6m | €0.5m | €1.0m | €0.2m | ▼ 85.4% |
| Suppliers440/4 | - | - | - | €0.4m | €0.6m | €0.5m | €1.0m | €0.2m | ▼ 85.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.9m | €1.3m | €0.6m | €0.9m | €1.0m | ▲ 4.3% |
| Taxes450/3 | - | - | - | €0.4m | €0.8m | €0.2m | €0.2m | €0.5m | ▲ 142% |
| Remuneration and social security454/9 | - | - | - | €0.5m | €0.5m | €0.4m | €0.7m | €0.5m | ▼ 35.7% |
| Other amounts payable47/48 | - | - | - | - | - | €1.9m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.5m | €1.4m | €1.3m | €0.8m | ▼ 38.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.5m | €0.6m | €0.4m | €0.7m | €1.3m | €0.7m | €0.9m | €0.9m | ▼ 0.7% |
| + Depreciation and write-downs630 | €0.003m | €0.003m | €0.002m | €0.003m | €0.006m | €0.007m | €0.009m | €0.01m | ▲ 60.8% |
| Operating cash flow (approximation) | €0.5m | €0.6m | €0.4m | €0.7m | €1.3m | €0.7m | €0.9m | €0.9m | ▼ 0.1% |
| Investment in fixed assets (approximation) | - | -€5 | -€45 | €0.3m | -€0.01m | -€198 | -€0.07m | -€350 | ▲ 99.5% |
| Change in cash | - | €0.9m | -€0.2m | €1.8m | -€1.1m | €0.4m | -€0.5m | €0.6m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 02-07-2026 | 2026-00240742 |
| 31-12-2024 | full format | 03-06-2025 | 2025-00117169 |
| 31-12-2023 | full format | 04-07-2024 | 2024-00211514 |
| 31-12-2022 | full format | 07-06-2023 | 2023-00111215 |
| 31-12-2021 | full format | 01-07-2022 | 2022-20118810 |
| 31-12-2020 | full format | 30-06-2021 | 2021-29300219 |
| 31-12-2019 | full format | 06-07-2020 | 2020-27700310 |
| 31-12-2018 | full format | 28-06-2019 | 2019-25700397 |
| 31-12-2017 | full format | 23-07-2018 | 2018-37700392 |
| 31-12-2016 | full format | 06-07-2017 | 2017-28500356 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
4 directors, 1 in day-to-day management, no change since 2025
Board 4
Manish B Patel
CurrentDirector · since 12-05-2022
David Vogl
CurrentDirector · since 17-12-2024
Steven Hamelin
CurrentDirector · since 17-12-2024
Emmy Maria Sjogren
CurrentDirector · since 12-12-2025
2 not recently confirmed
Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.
Kenneth J. Hessevick
Not recently confirmedDirector · since 11-05-2011
Bret Alan Prybylski
Not recently confirmedDirector (not named in the articles) · since 01-03-2019
Day-to-day management 1
David Vogl
CurrentManaging director · since 10-09-2025
2 not recently confirmed
Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.
Douglas Dunlap
Not recently confirmedManaging director · since 01-06-2003
Kenneth J. Hessevick
Not recently confirmedManaging director · since 11-05-2011
Statutory auditor 1
DELOITTE Bedrijfsrevisoren BV
CurrentStatutory auditor · since 01-01-2010 · permanent representative: Franky Wevers
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Mandate history
29 people since 2003, 8 in office
- Board
- Day-to-day management
- Statutory auditor
- not recently confirmed
- began earlier
| Name | Functions and periods |
|---|---|
| Manish B Patel |
|
| David Vogl |
|
| Steven Hamelin |
|
| Emmy Maria Sjogren |
|
| DELOITTE Bedrijfsrevisoren BV |
|
| Kenneth J. Hessevick |
|
| Bret Alan Prybylski |
|
| Douglas Dunlap |
|
| Jenna Michelle Myszak |
|
| Manish Patel |
|
| Nicole Jung |
|
| William Kevin Grogan |
|
| Bobby Pickett |
|
| Bret Prybylski |
|
| Brian Truesdale |
|
| Matthew Eisert |
|
| Arthur Laszlo |
|
| Eric Gasvoda |
|
| Kimberly Ann Fields |
|
| Steven Leonard Hamelin |
|
| Neil David Brinker |
|
| Matthew Stillings |
|
| Brad Williams |
|
| Daniel Henk |
|
| Terrance Collins |
|
| Kevin Hostetler |
|
| Kenneth Hessevick |
|
| Gregg Williams |
|
| Michael Sherman |
|
Owners and capital
Owners
3 ownersChain of control
- Idex CorporationUS
- TOPTECH SYSTEMS
Highest known parent: Idex Corporation (United States). The sources do not say who stands above it.
Owners 3
- Idex Europe GMBHDEparentSourceown accounts 202599%
- Idex CorporationUSconsolidating parentconsolidates
- Fluid Management Operations IncUSSourceown accounts 20251%
According to the 2025 annual accounts of TOPTECH SYSTEMS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Capital over the years
- 17-09-2020 Capital stated in 2 acts · €148,736.11 · 6,000 shares
Group and network
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
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Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
History
On 21 June 1995, TOPTECH SYSTEMS was incorporated.1 In 2003 the registered office moved to Zwijndrecht.2 The name was changed to TOPTECH SYSTEMS in 2010.3 Of the 4 current board members, Manish B Patel has served longest, since 2022.4 Turnover went from €4.6m in 2018 to €5.8m in 2025 and headcount from 16 to 17.2 full-time equivalents.5
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
02-07
Gazette deed
Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)2 facts ▸
Gazette deed
Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)
2 facts ▸
- General meeting, 04-06-2026
- Auditor reappointment, Deloitte Bedrijfsrevisoren BV (statutory auditor)
02-07
NBB filing
Annual accounts filed
financial year 2025 · full format
12-06
Gazette deed
Resignation: Jenna Michelle Myszak (director)Appointment: Emmy Maria Sjogren (director) · Director discharge · Power of attorney6 facts ▸
Gazette deed
Resignation: Jenna Michelle Myszak (director)
Appointment: Emmy Maria Sjogren (director) · Director discharge · Power of attorney6 facts ▸
- Director resignation, Jenna Michelle Myszak (director)
- Director appointment, Emmy Maria Sjogren (director)
- Director discharge, Jenna Michelle Myszak (director)
- Power of attorney, Vistra Corporate Services (Belgium) NV
- Power of attorney, Didier Westen
- Power of attorney, Pravienkoemar Mahabier
2025
31-12
Financial
Equity above €2mequity €2.1m ▲77.3%
A profit in every financial year since 2018 builds equity to €2.1m.
10-09
Gazette deed
Appointment: David Vogl (managing director)2 facts ▸
Gazette deed
Appointment: David Vogl (managing director)
2 facts ▸
- Board meeting, 17-06-2025
- Director appointment, David Vogl (managing director)
03-06
NBB filing
Annual accounts filed
financial year 2024 · full format
2024
31-12
Financial
Equity above €1mequity €1.2m ▲351%
A profit in every financial year since 2018 builds equity to €1.2m.
17-12
Gazette deed
Resignations: Nicole Jung (director) and Manish Patel (director)Appointments: Steven Hamelin (director) and David Vogl (director)5 facts ▸
Gazette deed
Resignations: Nicole Jung (director) and Manish Patel (director)
Appointments: Steven Hamelin (director) and David Vogl (director)5 facts ▸
- General meeting, 19-11-2024
- Director resignation, Nicole Jung (director)
- Director resignation, Manish Patel (director)
- Director appointment, Steven Hamelin (director)
- Director appointment, David Vogl (director)
04-07
NBB filing
Annual accounts filed
financial year 2023 · full format
2023
22-11
Gazette deed
Resignation: William K. Grogan (director)Appointment: Nicole Jung (director) · Approval4 facts ▸
Gazette deed
Resignation: William K. Grogan (director)
Appointment: Nicole Jung (director) · Approval4 facts ▸
- General meeting, 11-10-2023
- Director resignation, William K. Grogan (director)
- Director appointment, Nicole Jung (director)
- Approval, “enige handeling verricht sinds 2023-09-15 in hoedanigheid van bestuurder, goedgekeurd en bekrachtigd” (deed in Dutch)
18-10
Gazette deed
Resignations & appointmentsPower of attorney · Director in office4 facts ▸
Gazette deed
Resignations & appointments
Power of attorney · Director in office4 facts ▸
- Board meeting, 18-08-2023
- Power of attorney, Yemile Longoria
- Director in office, Manish B. Patel (director)
- Director in office, William K. Grogan (director)
07-06
NBB filing
Annual accounts filed
financial year 2022 · full format
Show earlier events
2022
31-12
Financial
Highest result from 2018 to 2025net €1.3m ▲73.2%
Operating result €1.5m, net result €1.3m, both a record.
23-08
Gazette deed
Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)2 facts ▸
Gazette deed
Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)
2 facts ▸
- General meeting, 30-06-2022
- Auditor reappointment, Deloitte Bedrijfsrevisoren BV (statutory auditor)
11-07
Gazette deed
Resignations: Matthew Eisert, Bobby Pickett and 2 othersAppointments: Manish B Patel, William Kevin Grogan and Jenna Michelle Myszak · Approval9 facts ▸
Gazette deed
Resignations: Matthew Eisert, Bobby Pickett and 2 others
Appointments: Manish B Patel, William Kevin Grogan and Jenna Michelle Myszak · Approval9 facts ▸
- General meeting, 17-05-2022
- Director resignation, Matthew Eisert (director)
- Director resignation, Bobby Pickett (director)
- Director resignation, Bret Prybylski (director)
- Director resignation, Brian Truesdale (director)
- Director appointment, Manish B Patel (director)
- Director appointment, William Kevin Grogan (director)
- Director appointment, Jenna Michelle Myszak (director)
- Approval, 12-05-2022, “goedgekeurd en bekrachtigd” (deed in Dutch)
01-07
NBB filing
Annual accounts filed
financial year 2021 · full format
15-06
Gazette deed
Permanent representatives: Franky Wevers and Bernard De Meulemeester3 facts ▸
Gazette deed
Permanent representatives: Franky Wevers and Bernard De Meulemeester
3 facts ▸
- General meeting, 06-12-2021
- Permanent representative, Franky Wevers
- Permanent representative, Bernard De Meulemeester
2021
31-12
Financial
Liquidity doublescurrent ratio 6.07
Current ratio from 3.02 to 6.07; short-term debt falls from €2.7m to €1.3m.
30-06
NBB filing
Annual accounts filed
financial year 2020 · full format
12-01
Gazette deed
Reappointment: DELOITTE Bedrijfsrevisoren (statutory auditor)2 facts ▸
Gazette deed
Reappointment: DELOITTE Bedrijfsrevisoren (statutory auditor)
2 facts ▸
- General meeting, 28-06-2019
- Auditor reappointment, DELOITTE Bedrijfsrevisoren (statutory auditor)
2020
31-12
Financial
Weakest financial yearnet €386,111 ▼34.4%
Net result drops to €386,111, the lowest in the series; recovery starts the following year.
17-09
Gazette deed
Appointments: Bret Alan Prybylski, Eisert Matthew and 2 othersAmendment of the articles · Capital7 facts ▸
Gazette deed
Appointments: Bret Alan Prybylski, Eisert Matthew and 2 others
Amendment of the articles · Capital7 facts ▸
- General meeting, 11-09-2020
- Amendment of the articles
- Capital, €148,736.11
- Director appointment, Bret Alan Prybylski (director (not named in the articles))
- Director appointment, Eisert Matthew (director (not named in the articles))
- Director appointment, Brian Truesdale (director (not named in the articles))
- Director appointment, Bobby Pickett (director (not named in the articles))
06-07
NBB filing
Annual accounts filed
financial year 2019 · full format
28-02
Gazette deed
Resignation: Arthur Laszlo (director)Appointments: Brian Truesdale (director) and Matthew Eisert (director) · Mandate compensation6 facts ▸
Gazette deed
Resignation: Arthur Laszlo (director)
Appointments: Brian Truesdale (director) and Matthew Eisert (director) · Mandate compensation6 facts ▸
- General meeting, 09-01-2020
- Director resignation, Arthur Laszlo (director)
- Director appointment, Brian Truesdale (director)
- Mandate compensation, Brian Truesdale
- Director appointment, Matthew Eisert (director)
- Mandate compensation, Matthew Eisert
22-01
Gazette deed
Resignation: Eric Gasvoda (director)Appointment: Bobby Pickett (director) · Mandate compensation4 facts ▸
Gazette deed
Resignation: Eric Gasvoda (director)
Appointment: Bobby Pickett (director) · Mandate compensation4 facts ▸
- General meeting, 30-09-2019
- Director resignation, Eric Gasvoda (director)
- Director appointment, Bobby Pickett (director)
- Mandate compensation, Bobby Pickett
2019
31-12
Financial
Equity above €5mequity €5.2m ▲12.7%
A profit in every financial year since 2018 builds equity to €5.2m.
28-06
NBB filing
Annual accounts filed
financial year 2018 · full format
18-06
Gazette deed
Appointment: Arthur Laszlo (director)Mandate compensation3 facts ▸
Gazette deed
Appointment: Arthur Laszlo (director)
Mandate compensation3 facts ▸
- General meeting, 23-05-2019
- Director appointment, Arthur Laszlo (director)
- Mandate compensation, Arthur Laszlo
18-06
Gazette deed
Resignation: Kimberly Ann Fields (director)2 facts ▸
Gazette deed
Resignation: Kimberly Ann Fields (director)
2 facts ▸
- General meeting, 02-04-2019
- Director resignation, Kimberly Ann Fields (director)
18-06
Gazette deed
Resignations: Neil David Brinker (director) and Steven Leonard Hamelin (director)Appointments: Kimberly Ann Fields (director) and Bret Alan Prybylski (director) · Mandate compensation7 facts ▸
Gazette deed
Resignations: Neil David Brinker (director) and Steven Leonard Hamelin (director)
Appointments: Kimberly Ann Fields (director) and Bret Alan Prybylski (director) · Mandate compensation7 facts ▸
- General meeting, 19-02-2019
- Director resignation, Neil David Brinker (director)
- Director resignation, Steven Leonard Hamelin (director)
- Director appointment, Kimberly Ann Fields (director)
- Mandate compensation, Kimberly Ann Fields
- Director appointment, Bret Alan Prybylski (director)
- Mandate compensation, Bret Alan Prybylski
2018
23-07
NBB filing
Annual accounts filed
financial year 2017 · full format
2017
03-08
Gazette deed
Resignation: Matthew Stillings (director)Appointment: Neil David Brinker (director) · Mandate compensation4 facts ▸
Gazette deed
Resignation: Matthew Stillings (director)
Appointment: Neil David Brinker (director) · Mandate compensation4 facts ▸
- General meeting, 23-06-2017
- Director resignation, Matthew Stillings (director)
- Director appointment, Neil David Brinker (director)
- Mandate compensation, Neil David Brinker
06-07
NBB filing
Annual accounts filed
financial year 2016 · full format
2016
06-12
Gazette deed
Resignation: Brad Williams (director)Appointment: Eric Gasvoda (director) · Mandate compensation · Power of attorney7 facts ▸
Gazette deed
Resignation: Brad Williams (director)
Appointment: Eric Gasvoda (director) · Mandate compensation · Power of attorney7 facts ▸
- General meeting, 03-08-2016
- Director resignation, Brad Williams (director)
- Director appointment, Eric Gasvoda (director)
- Mandate compensation, Eric Gasvoda
- Board meeting, 03-08-2016
- Power of attorney, Brad Williams
- Power of attorney, Eric Gasvoda
2013
28-06
Gazette deed
Resignation: Daniel Henk (director)Appointment: Steven Leonard Hamelin (director)3 facts ▸
Gazette deed
Resignation: Daniel Henk (director)
Appointment: Steven Leonard Hamelin (director)3 facts ▸
- General meeting, 04-06-2013
- Director resignation, Daniel Henk (director)
- Director appointment, Steven Leonard Hamelin (director)
13-06
Gazette deed
Resignation: Terrance Collins (director)Appointment: Brad Williams (director)3 facts ▸
Gazette deed
Resignation: Terrance Collins (director)
Appointment: Brad Williams (director)3 facts ▸
- General meeting, 23-04-2013
- Director resignation, Terrance Collins (director)
- Director appointment, Brad Williams (director)
2012
02-05
Gazette deed
Resignations: Kenneth Hessevick (director) and Kevin Hostetler (director)Appointments: Matthew Stillings (director) and Daniel Henk (director) · Mandate compensation · Power of attorney10 facts ▸
Gazette deed
Resignations: Kenneth Hessevick (director) and Kevin Hostetler (director)
Appointments: Matthew Stillings (director) and Daniel Henk (director) · Mandate compensation · Power of attorney10 facts ▸
- General meeting, 12-03-2012
- Director resignation, Kenneth Hessevick (director)
- Director resignation, Kevin Hostetler (director)
- Director appointment, Matthew Stillings (director)
- Director appointment, Daniel Henk (director)
- Mandate compensation, Matthew Stillings
- Mandate compensation, Daniel Henk
- Power of attorney, Raoul Cootjans (3 times)
- Board meeting, 12-03-2012
- Power of attorney, Brad Williams
2011
03-08
Gazette deed
Resignation: Gregg Williams (director)Appointment: Kenneth J. Hessevick (director) · Mandate compensation6 facts ▸
Gazette deed
Resignation: Gregg Williams (director)
Appointment: Kenneth J. Hessevick (director) · Mandate compensation6 facts ▸
- General meeting, 11-05-2011
- Director resignation, Gregg Williams (director)
- Director appointment, Kenneth J. Hessevick (director)
- Mandate compensation, Kenneth J. Hessevick (2 times)
- Board meeting, 11-05-2011
- Director appointment, Kenneth J. Hessevick (managing director)
2010
08-11
Gazette deed
Appointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)2 facts ▸
Gazette deed
Appointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)
2 facts ▸
- General meeting, 07-05-2010
- Auditor appointment, Deloitte Bedrijfsrevisoren BV (statutory auditor)
07-10
Gazette deed
Purpose · Amendment of the articles · NamePurpose change · Name change · Capital5 facts ▸
Gazette deed
Purpose · Amendment of the articles · Name
Purpose change · Name change · Capital5 facts ▸
- General meeting, 23-09-2010
- Purpose change, “De vennootschap heeft tot doel, zowel in België als in het buitenland, voor eigen rekening, voor rekening van derden of in deelneming met derden, alle verrichti…” (deed in Dutch)
- Name change, TOPTECH SYSTEMS
- Amendment of the articles
- Capital, €148,736.11
2009
18-08
Gazette deed
Resignation: Michael Sherman (director)Appointments: Terrance Collins (director) and Gregg Williams (director) · Mandate compensation6 facts ▸
Gazette deed
Resignation: Michael Sherman (director)
Appointments: Terrance Collins (director) and Gregg Williams (director) · Mandate compensation6 facts ▸
- General meeting, 24-06-2009
- Director resignation, Michael Sherman (director)
- Director appointment, Terrance Collins (director)
- Director appointment, Gregg Williams (director)
- Mandate compensation, Terrance Collins
- Mandate compensation, Gregg Williams
2003
18-06
Gazette deed
Appointment: Douglas Dunlap (managing director)Registered-office move3 facts ▸
Gazette deed
Appointment: Douglas Dunlap (managing director)
Registered-office move3 facts ▸
- Board meeting, 12-05-2003
- Registered-office move, Nieuwe Weg 1, 2070 Zwijndrecht
- Director appointment, Douglas Dunlap (managing director)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 31 annual accounts filed, the latest 10 are here; all 31 are under Financials.
26 of 26 deeds read
Register details
Identification
Legal formPublic limited company
Founded21-06-1995
Financial year end31-12
Activities, NACEBEL 2025
62100Computer programming
70200Business and other management consultancy
52100Warehousing and storage
62200Computer consultancy and computer facilities management
63100Computing infrastructure, data processing, hosting and related activities
77330Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455520908
Registered
06-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2002
Ground area
7.7 ha
Building footprint
1,032 m²
Building volume
9,205 m³
Parcel 11056H0505/00F000, Flanders · tallest building 14.9 m. Linked by address, not a title deed.
24
companies at this address
See who is registered here
1 establishment unit
TOPTECH SYSTEMS
since 2002unit no. 2.072.727.870
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11056H0505/00F000 | Flanders | 7.7 ha | 1 · 1,032 m² | 14.9 m · 3 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
- PurposeThe activities the company may carry out under its articles.
- “Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op: het vermarkten, leasen, verkopen, toepassen, implementeren…” (deed in Dutch)
Text of the purpose (deed in Dutch)
“Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op: het vermarkten, leasen, verkopen, toepassen, implementeren, installeren, ondersteunen, beheren, configureren, onderhouden en alle gerelateerde activiteiten met betrekking tot hardware en software systemen... [volledig voorwerp zoals opgenomen in de statuten]”
Read from the deeds: 1 provision, deed of 17-09-2020