SPEED SYSTEM
BankruptcySummary
The KBO register records for SPEED SYSTEM the legal situation: open bankruptcy; this is today's state according to the register itself, which carries no start date. The 2022 annual accounts show equity of €25k and a net result of €5k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 10-10-2023, 71 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
71 d late
2021
144 d late
2020
84 d late
2019
143 d late
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Financials · fiscal year 2022, micro schema
Turnover
€349k▲ 80.6%
2018 · €193k
2018: €193k
2018 → 2019
EBIT margin
1.5%▲ 22.1pp
2018 · -20.6%
2018: -20.6%
2018 → 2019
Net result
€5k▼ 78.0%
2021 · €21k
2018: €-41k
2019: €5k
2020: €21k
2021: €21k
2018 → 2022
Working capital
€17k▲ 257%
2021 · €5k
2018: €-51k
2019: €-46k
2020: €-18k
2021: €5k
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€193k-€349k▲ 80.6%
Equity€-27k-€-22k▲ 18.6%€-1k▲ 95.3%€20k€25k▲ 23.2%
Operating result€-40k-€5k€21k▲ 309%€25k▲ 20.3%€6k▼ 75.0%
Net result€-41k-€5k€21k▲ 317%€21k▲ 3.8%€5k▼ 78.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 75% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €763k
Fixed assets
€8k ▼ 48.0%
Current assets
€755k ▲ 67.2%
Equity and liabilities €763k
Equity
€25k ▲ 23.2%
Debt
€738k ▲ 65.1%
Debt's share of the balance-sheet total rises from 95.6% to 96.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€14k▼
2021 · €34k
Cash flow
€12k▼
2021 · €30k
Current ratio
1.02▲
2021 · 1.01
Debt to equity
29.46▲
2021 · 21.97
ROE
18.8%▼
2021 · 105.0%
ROA
0.6%▼
2021 · 4.6%
Interest coverage
88.62▼
2021 · 239.02
Debt ≤ 1 year
€738k▲
2021 · €447k
Income taxes
€1k▼
2021 · €3k
Staff costs
€113k▲
2021 · €56k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 47 lines
Balance sheet
Code20212022
Assets
Total assets20/58€467k€763k▲
Fixed assets21/28€16k€8k▼
Tangible fixed assets22/27€16k€8k▼
Plant, machinery and equipment23€6k€4k▼
Furniture and vehicles24€10k€4k▼
Current assets29/58€451k€755k▲
Amounts receivable within one year40/41€427k€650k▲
Trade receivables40€402k€614k▲
Other amounts receivable41€24k€36k▲
Cash at bank and in hand54/58€24k€103k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€467k€763k▲
Equity10/15€20k€25k▲
Contributions10/11€6k€6k=
Capital10€6k-
Issued capital100€19k-
Uncalled capital101€13k-
Outside capital11-€6k
Other1109/19-€6k
Reserves13€416€416=
Non-distributable reserves130/1€416€416=
Legal reserve130€416€416=
Profit (loss) carried forward14€14k€18k▲
Amounts payable17/49€447k€738k▲
Amounts payable within one year42/48€447k€738k▲
Trade debts44€336k€576k▲
Suppliers440/4€336k€576k▲
Advances received on contracts in progress46€40k€42k▲
Taxes, remuneration and social security45€70k€120k▲
Taxes450/3€5k€6k▲
Remuneration and social security454/9€66k€114k▲
Other amounts payable47/48-€667
Income statement
Code20212022
Remuneration, social security and pensions62€56k€113k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€7k▼
Other operating charges640/8€3k€2k▼
Gross operating margin9900€93k€129k▲
Operating profit (loss)9901€25k€6k▼
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€141€155▲
Recurring financial charges65€141€155▲
Profit (loss) for the period before taxes9903€25k€6k▼
Income taxes67/77€3k€1k▼
Profit (loss) for the period9904€21k€5k▼
Profit (loss) for the period to be appropriated9905€21k€5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€14k€18k▲
Profit (loss) brought forward from the previous period14P€-8k€14k▲
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
12-05
KBO administration
Address struck
2023
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 71 days late
2022
22-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 144 days late
2021
31-12
Financial
Highest result since 2018net €21k ▲3.8%
Operating result €25k, net result €21k, both a record.
23-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 84 days late
2020
21-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 143 days late
2019
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 71 days late
11-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 407 days late
2018
15-02
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 199 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Ground area
2,536 m²
Building footprint
493 m²
Volume, LiDAR
4,654 m³
2 parcels, Brussels · tallest building 19.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
SPEED SYSTEM EL BAROUDI
since 20152.238.386.648
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21522B0623/00L000 | Brussels | 2,442 m² | 1 · 406 m² | 19.8 m · 2 fl. |
| 21522B0621/00K000 | Brussels | 93 m² | 1 · 86 m² | 17.3 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded23-06-2014
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.