TRACKINSIDE
ActiveSummary
TRACKINSIDE has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€495,530) and a net result of -€2,151. Equity is shrinking by about 2.9% per year across the filed financial years. The computed 12-month bankruptcy probability is 1.2% (low).
Overview
- Equity
- -€495,530
- Loss
- -€2,151
- Largest shareholder
- LASER ENGINEERING APPLICATIONS · 30.3%
- Board
- 5 members
Why 53raises riskCapped at 59: negative equityLoss of €2,151, the second in a row (financial year 2025)Negative equity -€495,5302 of the last 3 latelowers riskSize: total assets €1,226Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 33, micro): better than 3% on solvency, 35% on liquidity, 4% on profitability and 31% 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).
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Signals
This company filed its last 7 accounts on average 36 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €1,971 in 2025 against €18,887 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 6,907 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 85.4% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 6,907 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €20,000 | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €690 | - | - | - | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €6,667 | - | - | - |
| Other operating charges640/8 | - | - | - | €442 | €1,418 | €1,003 | €1,716 | €215 | ▼ 87.5% |
| Gross operating margin9900 | -€6,986 | €11,511 | €11,434 | -€4,863 | €9,906 | -€12,731 | -€17,172 | -€1,756 | ▲ 89.8% |
| Operating profit (loss)9901 | -€8,167 | €10,957 | €9,757 | -€5,305 | €8,488 | -€20,401 | -€18,887 | -€1,971 | ▲ 89.6% |
| Financial income75/76B | - | - | - | - | - | €0 | - | - | - |
| Recurring financial income75 | - | - | - | - | - | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €11,100 | €13,167 | €11,133 | €2,121 | €180 | ▼ 91.5% |
| Recurring financial charges65 | €10,224 | €8,942 | €13,106 | €11,100 | €13,167 | €11,133 | €2,121 | €180 | ▼ 91.5% |
| Profit (loss) for the period before taxes9903 | -€18,391 | €2,015 | -€3,349 | -€16,404 | -€4,679 | -€31,534 | -€21,008 | -€2,151 | ▲ 89.8% |
| Profit (loss) for the period9904 | -€18,391 | €2,015 | -€3,349 | -€16,404 | -€4,679 | -€31,534 | -€21,008 | -€2,151 | ▲ 89.8% |
| Profit (loss) for the period to be appropriated9905 | -€18,391 | €2,015 | -€3,349 | -€16,404 | -€4,679 | -€31,534 | -€21,008 | -€2,151 | ▲ 89.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.06m | €0.05m | €0.04m | €0.02m | €0.02m | €0.009m | €0.003m | €0.001m | ▼ 52.6% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €0.06m | €0.05m | €0.04m | €0.02m | €0.02m | €0.009m | €0.003m | €0.001m | ▼ 52.6% |
| Stocks and contracts in progress3 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | - | - | - | - |
| Stocks30/36 | - | - | - | €0.001m | €0.001m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.02m | €0.03m | €0.03m | €0.01m | €0.01m | €0.001m | €0.002m | €0.001m | ▼ 66.6% |
| Trade receivables40 | - | - | - | €0.01m | €0.01m | €197 | - | €468 | - |
| Other amounts receivable41 | - | - | - | - | - | €0.001m | €0.002m | €322 | ▼ 86.4% |
| Cash at bank and in hand54/58 | €0.04m | €0.01m | €0.002m | €0.001m | €0.001m | €0.002m | €223 | €436 | ▲ 95.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.006m | €0.006m | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.06m | €0.05m | €0.04m | €0.02m | €0.02m | €0.009m | €0.003m | €0.001m | ▼ 52.6% |
| Equity10/15 | -€0.4m | -€0.4m | -€0.4m | -€0.4m | -€0.4m | -€0.5m | -€0.5m | -€0.5m | ▼ 0.4% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Capital10 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Issued capital100 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Profit (loss) carried forward14 | -€0.9m | -€0.9m | -€0.9m | -€1.0m | -€1.0m | -€1.0m | -€1.0m | -€1.0m | ▼ 0.2% |
| Amounts payable17/49 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 0.2% |
| Amounts payable after more than one year17 | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Financial debts170/4 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 1.6% |
| Trade debts44 | €0.01m | €0.01m | €0.01m | €0.007m | €0.002m | €0.003m | €0.01m | €0.01m | ▲ 1.4% |
| Suppliers440/4 | - | - | - | €0.007m | €0.002m | €0.003m | €0.01m | €0.01m | ▲ 1.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Taxes450/3 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.09m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 1.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.008m | €0.02m | €0.02m | €0.02m | ▼ 4.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,391 | €2,015 | -€3,349 | -€16,404 | -€4,679 | -€31,534 | -€21,008 | -€2,151 | ▲ 89.8% |
| + Depreciation and write-downs630 | €690 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€17,701 | €2,015 | -€3,349 | -€16,404 | -€4,679 | -€31,534 | -€21,008 | -€2,151 | ▲ 89.8% |
| Change in cash | - | -€27,108 | -€9,618 | -€1,085 | €248 | €318 | -€1,415 | €213 | - |
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 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-07-2026 | 2026-00349885 |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00524314 |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00491713 |
| 31-12-2022 | micro format | 20-07-2023 | 2023-00269031 |
| 31-12-2021 | micro format | 10-11-2022 | 2022-20520196 |
| 31-12-2020 | micro format | 23-06-2021 | 2021-23600435 |
| 31-12-2019 | micro format | 19-10-2020 | 2020-61900352 |
| 31-12-2018 | full format | 29-08-2019 | 2019-54900068 |
| 31-12-2017 | full format | 31-08-2018 | 2018-58900536 |
| 31-12-2016 | full format | 29-09-2017 | 2017-65300195 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 5
Permanent representatives 5
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| AMPLITUDE SYSTEMES |
|
| COSTET SAS |
|
| Lasea |
|
| NOSHAQ PARTNERS |
|
| TOTAL BRAND SECURITY |
|
The directors' other companies
6 other companies of this director went bankrupt (2023, 2025, 2026).
- Fonderies J. Marichal Ketin et Cie bankruptcy on 30-04-2026Official Gazettemandate since 2021
- ARTIALIS bankruptcy on 13-04-2026Official Gazettemandate since 2024
- AVISTER-MEDICAL bankruptcy on 05-01-2026Official Gazettemandate since 2024
- Gembloux.beer bankruptcy on 27-11-2025Official Gazettemandate until 2024
- BELMIX OPERATING SERVICES bankruptcy on 06-03-2023Official Gazettemandate until 2022
- MUUSELABS bankruptcy according to the KBO registermandate until 2023
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it. Only boards we have read from the Gazette; other companies may still be missing.
Owners and capital
Owners
3 ownersOwners 3
-
30.3%
-
10.85%
-
10.85%
Sources: the companies' annual accounts, 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
- 11-01-2024 Capital stated in the deed · €526,000 · 3,142 shares
Group and network
Connections & network
5 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
11-01
Gazette deed
Permanent representative: BUET DamienReappointments: LASEA, AMPLITUDE SYSTEMES and 3 others · Amendment of the articles · Capital12 facts ▸
- General meeting, 21-12-2023
- Amendment of the articles
- Capital, €526,000
- Permanent representative, BUET Damien
- Director reappointment, LASEA (administrateur de classe a) (2 times)
- Director reappointment, AMPLITUDE SYSTEMES (administrateur de classe a) (2 times)
- Director reappointment, NOSHAQ PARTNERS (administrateur de classe b) (2 times)
- Director reappointment, TOTAL BRAND SECURITY (director) (2 times)
- Director reappointment, COSTET SAS (director) (2 times)
- Registered-office move, 4102 Seraing, rue Louis Plescia, 31
- Director in office, TOTAL BRAND SECURITY (director)
- Director in office, COSTET SAS (director)
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
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
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62343C0058/00B002 | Wallonia | 1.4 ha | - | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toutes activités relatives aux applications liées au laser, à la traçabilité, au marquage, à la lutte contre la contrefaçon, à la formation…” (deed in French)
5 activities (deed in French)
- Toutes activités relatives aux applications liées au laser, à la traçabilité, au marquage, à la lutte contre la contrefaçon, à la formation et à l’organisation de séminaires, ainsi que toutes opérations se rapportant directement ou indirectement au développement, à la création, à la fabrication, la vente, la location, la distribution, la réparation, l’installation ou l’application quelconque relatifs ou intégrant la mécanique, l’électronique, l’optique, l’électrotechnique en général, la modélisation mathématique, l’informatique et tout rayonnement lumineux.
- La société pourra réaliser toutes opérations généralement quelconques, commerciales, industrielles, financières, mobilières ou immobilières ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à en faciliter la réalisation.
- Elle pourra s’intéresser, par voie d’apport, de fusion, de scission, de participation, de souscription et par tout autre moyen, dans toutes sociétés, entreprises ou associations ayant un objet similaire ou connexe au sien, ou de nature à favoriser la réalisation de son objet, à lui procurer des matières premières ou à faciliter l’écoulement de ses produits et services.
- La société peut être administrateur, gérant ou liquidateur.
- Elle peut se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société, liée ou non.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Two directors jointly“ARTICLE 17 - REPRESENTATION ACTES ET ACTIONS JUDICIAIRES Sauf délégations ou pouvoirs particuliers et sans préjudice aux délégations visées…”
Full text
ARTICLE 17 - REPRESENTATION ACTES ET ACTIONS JUDICIAIRES Sauf délégations ou pouvoirs particuliers et sans préjudice aux délégations visées à l'article précédent, la société est valablement représentée en général, et notamment en tous recours judiciaires et administratifs tant en demandant qu'en défendant, ainsi qu'à tous actes et procurations, y compris ceux où intervient un fonctionnaire public ou un officier ministériel, par deux administrateurs agissant conjointement, lesquels n'auront, en aucun cas, à justifier d'une décision préalable du conseil d'administration. Les expéditions et extraits des décisions du conseil d'administration, ainsi que celles des résolutions de l'assemblée générale, seront signés conformément à l'alinéa qui précède. En ce qui concerne la gestion journalière, la société sera représentée valablement par le ou les administrateurs-délégués, directeurs et agents auxquels cette gestion aura été déléguée et ce pour toutes les opérations qui peuvent être comprises dans la gestion journalière. Les mandataires spéciaux disposeront du pouvoir de représentation dans le cadre de leur compétence.
- Board ruleHow the board is made up, meets and takes decisions.
- “Composition du conseil d'administration, en tout temps” (deed in French)“Mandat des administrateurs, le mandat des administrateurs sortants, non réélus, cesse immédiatement après l'assemblée générale qui a procédé…” (deed in French)“Rémunération particulière, administrateurs chargés de fonctions ou missions spéciales” (deed in French)“Sauf décision contraire de l'assemblée générale, l'administrateur désigné dans les conditions ci-dessus est nommé pour le temps nécessaire à…” (deed in French)“Présidence et réunions, les réunions se tiennent au lieu indiqué dans les convocations” (deed in French)“Réunions, délibérations et résolutions, la moitié au moins de ses membres sont présents ou représentés” (deed in French)“Décisions du conseil d'administration, les décisions du conseil d'administration sont prises à la majorité simple des voix” (deed in French)“Écrit, décisions par consentement unanime” (deed in French)“Tous les actes contribuant à la réalisation de l'objet, pouvoirs du conseil d'administration” (deed in French)5 more provisions on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “En cas de cession d’actions entre actionnaires ou d'émission d’actions nouvelles en faveur d'actionnaires existants, les actions cédées ou…” (deed in French)
- Records ruleWhich registers the company keeps, such as the share register, and how.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Sans préjudice des dispositions légales, les actionnaires A et B se reconnaissent un droit de préemption pour la vente des actions qu’ils…” (deed in French)“La transmission aux héritiers légaux est libre, droit de préemption” (deed in French)
- Financial instrumentSecurities other than shares, such as bonds or warrants, the company can issue.
- “Émission, type, taux des intérêts, mode et époque des remboursements, garanties spéciales, toutes autres conditions” (deed in French)
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Tuesday of April at 10:00
- General meetingThe meeting of all shareholders, which appoints directors and approves the accounts.
- “Composition et pouvoirs de l'assemblée générale, l'assemblée générale se compose de tous les propriétaires d'actions qui ont le droit de…” (deed in French)
- General meeting ruleHow the general meeting works: who calls it, who may attend and how it decides.
- One provision in the deed
- Meeting noticeHow and how far ahead shareholders are invited to a meeting; by law at least fifteen days.
- “Siège ou endroit indiqué dans la convocation, conformément à la loi, notamment par email à l'adresse communiquée par écrit” (deed in French)
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- “Admission à l'assemblée, propriétaires d'actions nominatives” (deed in French)“Participation à distance, réputés présents pour quorum et majorité” (deed in French)1 more provision on this in the deed
- Meeting procedureHow the meeting runs, from opening to minutes.
- “Bureau de l'assemblée, Président du conseil d'administration, à défaut administrateur-délégué, à défaut plus âgé des administrateurs” (deed in French)“Prorogation de l'assemblée, trois semaines” (deed in French)
- Proxy ruleWhether a shareholder may be represented at the meeting by someone else.
- “Tout propriétaire de titres peut se faire représenter par un mandataire, représentation à l'assemblée” (deed in French)1 more provision on this in the deed
- Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
- “1” (deed in French)1 more provision on this in the deed
- Written decisionsDecisions without a meeting, when everyone involved agrees in writing.
- “Toutes décisions relevant du pouvoir de l'assemblée générale, assemblée générale écrite” (deed in French)“Datation de l'assemblée annuelle, décision parvenue à la société 20 jours avant la date statutaire” (deed in French)“Datation de l'assemblée générale particulière, date à laquelle la décision est parvenue au siège” (deed in French)“Proposition de décision écrite, indiquer si l'approbation de l'ensemble des points est requise ou si une approbation séparée est sollicitée…” (deed in French)2 more provisions on this in the deed
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- One provision in the deed
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Liquidation, l'assemblée générale détermine les pouvoirs et la rémunération éventuelle du ou des liquidateurs” (deed in French)1 more provision on this in the deed