Equity
€1.7m from €16.2m in 2012
Equity fell by 90% in 14 years.
SMARTBOX GROUP BELGIUM
Lifetime
20 annual accounts with figures on one time axis, 25 filings since 2001peak €20.4m (2010)
€6.3m▲ 15.8%
lowest -€4.2m (2015)
€1.2m▲ 178%
peak €16.2m (2012)
€1.7m▲ 42.1%
€1.9m▲ 74.2%
peak 85.3 FTE (2016)
36.1 FTE▼ 25.3%
Board9 names since 2019
2 directorsFrédéric Leleux and 1 other
Owners7 names in the annual accountsall names
99.6%Smartbox Group Limited and 2 others
Documentsfilings and deeds
03-07-2026150 days before the deadline
2026financial year
Turnover from €5.4m to €6.3mResult from €448,269 to €1.2mStaff from 48.3 FTE to 36.1 FTEReappointments: Frédéric Leleux (director) and Franck Villet… 29-07Dividend €750,000Equity from €1.2m to €1.7m
Key points
from the 2026 annual accountsResult
€1.2m ▲ 178%
The result rose in 2026: mostly from a one-off income of €1.9m.
Debts
€1.9m ▲ 74.2%
Debts rose by €795,666 in 2026. A dividend stands under other debts on the balance sheet date until it is paid.
Staff
36.1 FTE from 85.3 in 2016
Between 2016 and 2026, 58% of the full-time equivalents disappeared.
Payment terms
69 days to suppliers
SMARTBOX GROUP BELGIUM pays its suppliers 8 days earlier than in 2025. Customers pay 116 days later.
Liquidity
1.97 was 0.89 in 2025
Short-term debts rose from €1.1m to €1.9m.
Checked score
87
Excellent
Financially stronger than 67% of small companies in travel agencies (NACE 79)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 83 companies (NACE 79, small).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.3%highest value
01-2025: 2.3%● unchanged vs 12-2024highest value
02-2025: 2.3%● unchanged vs 01-2025highest value
03-2025: 2.3%● unchanged vs 02-2025highest value
04-2025: 2.3%● unchanged vs 03-2025highest value
05-2025: 2.3%● unchanged vs 04-2025highest value
06-2025: 1.2%▼ -1.1 percentage points vs 05-2025
07-2025: 1.4%▲ +0.2 percentage points vs 06-2025
08-2025: 0.4%▼ -1.0 percentage point vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.3%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: 0.3%● unchanged vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026lowest value
11-2026: 0.3%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 1.97, cash €15,576, halved
1 of the last 3 accounts late
lowers risk
Founded in 2000
Size: turnover €6.3m, 36.1 FTE, total assets €4.2m
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 79, small). It does better than 66% of them on solvency, 16% on liquidity, 99% on profitability and 85% 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 30-04-2026.
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, 20,137 companies had the same profile as SMARTBOX GROUP BELGIUM has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of SMARTBOX GROUP BELGIUM itself: 0.3% 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 20,137 companies, not a prediction for SMARTBOX GROUP BELGIUM. 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 €140,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.97 (0.89 in 2025), above the usual 1.5. Short-term debt is 44.3% and cash 0.4% of total assets. However, 60.5% 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 riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year €1.7m
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2026 was due by 30-11-2026 and was filed on 03-07-2026, 150 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
150 days early
2025
153 days early
2024
166 days late
2023
179 days late
2022
111 days early
2021
159 days early
2020
137 days early
← 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 52 days before the deadline. In the sector (NACE 79), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 30-04-2027 and is due by 30-11-2027. Nothing is late today. The company usually files around 11 August (4 of the last 5 accounts filed within 277 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today30-04-2027 year end30-11-2027 deadline
Board and ownership
- Smartbox Group Limited 99.6%annual accounts 30-04-2026
- BAD 21 consolidatesequity €763.7m (2025) · annual accounts 30-04-2026
- Pierre-Edouard Stérin 0.4%annual accounts 30-04-2026
Recent changes
Reappointments: Frédéric Leleux (director) and Franck Villet (director)
General meeting of 26-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0472005364
Amendment of the articles
General meeting of 14-06-2023 · Gazette deed
Appointment: KPMG Bedrijfrevisoren CVBA (statutory auditor)
General meeting of 15-07-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SMARTBOX GROUP BELGIUM Antwerp | €6.3m | 24.8% | 39.5% | 36.1 |
| WEP Koekelberg | €11.5m | 1.7% | 15.0% | 32.6 |
| CAROLUS REIZEN Mol | €14.8m | 0.7% | 28.9% | 24.4 |
| ESPACE VOYAGES BRUSSELS Ixelles | €23.6m | 0.3% | 18.8% | 25 |
| AXON TRAVEL Leuven | €34.7m | 1.7% | 68.6% | 41.9 |
| HERFURTH TRAVEL Antwerp | €52.8m | 0.2% | 30.1% | 55.6 |
| INTERNATIONAL COACH TRAFFIC Rijkevorsel | €14.3m | 4.7% | 28.1% | 63.9 |
Grey: the largest companies of the sector (travel agencies (NACE 79)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as SMARTBOX GROUP BELGIUM: travel agency activities (NACE 79110). They are comparable in size and age: total assets between €3.5m and €8.8m, founded between 1980 and 2002.
Official details
Source: KBO- Status
- Active since 26-05-2000Normal situation
- Registered office
- 20 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Travel agency activitiesNACE 79110and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 30-04-2025
- Establishment units
- 2.100.884.2972000 Antwerp, since 06-07-2000
- 2.169.057.5801200 Woluwe-Saint-Lambert, since 10-11-2007and 4 others
- Financial year end
- 30 April
- Peppol
- Reachable since 11-12-2025
Annual accounts to 30-04-2026
- €4.2m▲ 84.6%
- Employeeson 30-04-2026
- 32▼ 28.9%
- Filing
- Filed on 03-07-2026, 150 days before the end of the filing period
Insights on SMARTBOX GROUP BELGIUM
SMARTBOX GROUP BELGIUM has existed since 2000. Turnover fell from €10.1m in 2006 to €6.3m in 2026, while staff rose from 24.1 to 36.1 full-time equivalents.
Solvency fell in 2026 from 51.4% to 39.5% because of the dividend.
Smartbox Group Limited holds all the shares.
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 SMARTBOX GROUP BELGIUM
- What is the company number of SMARTBOX GROUP BELGIUM?
- The company number of SMARTBOX GROUP BELGIUM is 0472.005.364. The VAT number is the same number with BE in front: BE 0472.005.364.
- Where is SMARTBOX GROUP BELGIUM based?
- The registered office is at Kronenburgstraat 27, 2000 Antwerp.Company details
- What does SMARTBOX GROUP BELGIUM do?
- According to the KBO register, the main activity is travel agency activities (NACE 79110).
- What is the legal form of SMARTBOX GROUP BELGIUM?
- SMARTBOX GROUP BELGIUM is a public limited company (NV).
- When was SMARTBOX GROUP BELGIUM founded?
- SMARTBOX GROUP BELGIUM was founded on 26-05-2000.
- Is SMARTBOX GROUP BELGIUM still active?
- Yes, SMARTBOX GROUP BELGIUM is an active enterprise in the KBO register.
- How many employees does SMARTBOX GROUP BELGIUM have?
- SMARTBOX GROUP BELGIUM had an average of 36.1 full-time equivalents in financial year 2026, according to the filed annual accounts.Financials
- Which joint committee does SMARTBOX GROUP BELGIUM fall under?
- In its 30-04-2025 annual accounts, SMARTBOX GROUP BELGIUM states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of SMARTBOX GROUP BELGIUM?
- The turnover of SMARTBOX GROUP BELGIUM was €6.3m in financial year 2026, according to the filed annual accounts.
- Is SMARTBOX GROUP BELGIUM profitable?
- In financial year 2026, SMARTBOX GROUP BELGIUM made a profit of €1.2m.
- Where can I find the annual accounts of SMARTBOX GROUP BELGIUM?
- SMARTBOX GROUP BELGIUM filed 25 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of SMARTBOX GROUP BELGIUM due?
- SMARTBOX GROUP BELGIUM must file the annual accounts for financial year 2027 by 30-11-2027.Timeline
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