SQUALE SOFTWARE
ActiveSummary
SQUALE SOFTWARE has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €331k and a net result of €51k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 78% of 17090 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-3
Solvency100▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.76 against 1.9 in 2024; short-term debt: 15% and cash: 32% of total assets), and 16.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
83.1%
Return on assets
12.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
31 d late
2023
26 d late
2022
32 d early
2021
31 d late
2020
26 d early
2019
69 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€331k▲ 9.8%
2024 · €301k
2018: €160klowest in 8 years
2019: €194k▲ +21.3% vs 2018
2020: €205k▲ +6.0% vs 2019
2021: €200k▼ -2.7% vs 2020
2022: €210k▲ +5.3% vs 2021
2023: €234k▲ +11.3% vs 2022
2024: €301k▲ +28.7% vs 2023
2025: €331k▲ +9.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€398k▼ 7.4%
2024 · €429k
2018: €399k
2019: €399k▼ -0.1% vs 2018
2020: €405k▲ +1.5% vs 2019
2021: €407k▲ +0.6% vs 2020
2022: €446k▲ +9.7% vs 2021highest in 8 years
2023: €421k▼ -5.6% vs 2022
2024: €429k▲ +1.9% vs 2023
2025: €398k▼ -7.4% vs 2024lowest in 8 years
2018 → 2025
Net result
€51k▼ 24.2%
2024 · €67k
2018: €32k
2019: €40k▲ +21.9% vs 2018
2020: €48k▲ +20.5% vs 2019
2021: €26k▼ -44.5% vs 2020lowest in 8 years
2022: €45k▲ +68.7% vs 2021
2023: €56k▲ +24.9% vs 2022
2024: €67k▲ +20.4% vs 2023highest in 8 years
2025: €51k▼ -24.2% vs 2024
2018 → 2025
Working capital
€105k▲ 18.6%
2024 · €89k
2018: €-25klowest in 8 years
2019: €12k▲ +146% vs 2018
2020: €23k▲ +96.1% vs 2019
2021: €14k▼ -37.9% vs 2020
2022: €23k▲ +59.8% vs 2021
2023: €36k▲ +59.3% vs 2022
2024: €89k▲ +147% vs 2023
2025: €105k▲ +18.6% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€200k-€210k▲ 5.3%€234k▲ 11.3%€301k▲ 28.7%€331k▲ 9.8%
2021: €200klowest in 5 years
2022: €210k▲ +5.3% vs 2021
2023: €234k▲ +11.3% vs 2022
2024: €301k▲ +28.7% vs 2023
2025: €331k▲ +9.8% vs 2024highest in 5 years
Operating result€48k-€75k▲ 56.8%€88k▲ 17.5%€104k▲ 17.7%€79k▼ 24.0%
2021: €48klowest in 5 years
2022: €75k▲ +56.8% vs 2021
2023: €88k▲ +17.5% vs 2022
2024: €104k▲ +17.7% vs 2023highest in 5 years
2025: €79k▼ -24.0% vs 2024
Net result€26k-€45k▲ 68.7%€56k▲ 24.9%€67k▲ 20.4%€51k▼ 24.2%
2021: €26klowest in 5 years
2022: €45k▲ +68.7% vs 2021
2023: €56k▲ +24.9% vs 2022
2024: €67k▲ +20.4% vs 2023highest in 5 years
2025: €51k▼ -24.2% vs 2024
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 2025; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €398k
Fixed assets
€233k ▼ 3.7%
Current assets
€165k ▼ 12.0%
Equity and liabilities €398k
Equity
€331k ▲ 9.8%
Debt
€67k ▼ 47.6%
Debt's share of the balance-sheet total falls from 29.9% to 16.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91k▼
2024 · €116k
Cash flow
€63k▼
2024 · €79k
Current ratio
2.76▲
2024 · 1.90
Debt to equity
0.20▼
2024 · 0.43
ROE
15.4%▼
2024 · 22.3%
ROA
12.8%▼
2024 · 15.6%
Interest coverage
37.50▲
2024 · 35.92
Debt ≤ 1 year
€60k▼
2024 · €99k
Debt > 1 year
€8k▼
2024 · €29k
Income taxes
€26k▼
2024 · €34k
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 · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€429k€398k▼
Fixed assets21/28€242k€233k▼
Tangible fixed assets22/27€233k€221k▼
Land and buildings22€230k€219k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€357€11▼
Financial fixed assets28€9k€12k▲
Current assets29/58€187k€165k▼
Amounts receivable within one year40/41€34k€36k▲
Trade receivables40€34k€27k▼
Other amounts receivable41-€9k
Cash at bank and in hand54/58€152k€127k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€429k€398k▼
Equity10/15€301k€331k▲
Contributions10/11€19k€19k=
Reserves13€282k€312k▲
Non-distributable reserves130/1€282k€312k▲
Reserves not available under the articles1311€2k€2k=
Other1319€281k€310k▲
Profit (loss) carried forward14€154€155▲
Amounts payable17/49€128k€67k▼
Amounts payable after more than one year17€29k€8k▼
Financial debts170/4€29k€8k▼
Amounts payable within one year42/48€99k€60k▼
Current portion of amounts payable after more than one year42€23k€24k▲
Financial debts43€2k€594▼
Credit institutions430/8€2k€594▼
Trade debts44€8k€3k▼
Suppliers440/4€8k€3k▼
Taxes, remuneration and social security45€14k€11k▼
Taxes450/3€14k€11k▼
Other amounts payable47/48€53k€21k▼
Accrued charges and deferred income492/3€191€114▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€12k▲
Other operating charges640/8€3k€4k▲
Gross operating margin9900€119k€95k▼
Operating profit (loss)9901€104k€79k▼
Financial income75/76B€285€19▼
Recurring financial income75€285€19▼
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€101k€77k▼
Income taxes67/77€34k€26k▼
Profit (loss) for the period9904€67k€51k▼
Profit (loss) for the period to be appropriated9905€67k€51k▼
Appropriation of the result
Profit (loss) to be appropriated9906€67k€51k▼
Profit (loss) brought forward from the previous period14P€154€154▲
Transfer from equity791/2-€21k
Transfer to equity691/2€67k€51k▼
To other reserves6921€67k€51k▼
Profit to be distributed694/7-€21k
Return on contributions (dividend)694-€21k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19k | €19k | €12k | €12k | €12k | ▲ 3.5% |
| Other operating charges640/8 | €2k | €2k | €3k | €3k | €4k | ▲ 10.6% |
| Gross operating margin9900 | €69k | €97k | €103k | €119k | €95k | ▼ 20.2% |
| Operating profit (loss)9901 | €48k | €75k | €88k | €104k | €79k | ▼ 24.0% |
| Financial income75/76B | - | - | €76 | €285 | €19 | ▼ 93.5% |
| Recurring financial income75 | - | - | €76 | €285 | €19 | ▼ 93.5% |
| Financial charges65/66B | €6k | €5k | €4k | €3k | €2k | ▼ 24.5% |
| Recurring financial charges65 | €6k | €5k | €4k | €3k | €2k | ▼ 24.5% |
| Profit (loss) for the period before taxes9903 | €42k | €70k | €84k | €101k | €77k | ▼ 24.2% |
| Income taxes67/77 | €16k | €26k | €29k | €34k | €26k | ▼ 24.1% |
| Profit (loss) for the period9904 | €26k | €45k | €56k | €67k | €51k | ▼ 24.2% |
| Profit (loss) for the period to be appropriated9905 | €26k | €45k | €56k | €67k | €51k | ▼ 24.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €407k | €446k | €421k | €429k | €398k | ▼ 7.4% |
| Fixed assets21/28 | €276k | €259k | €249k | €242k | €233k | ▼ 3.7% |
| Tangible fixed assets22/27 | €271k | €253k | €242k | €233k | €221k | ▼ 5.3% |
| Land and buildings22 | €263k | €252k | €241k | €230k | €219k | ▼ 4.8% |
| Plant, machinery and equipment23 | €1k | €464 | €135 | €3k | €2k | ▼ 36.8% |
| Furniture and vehicles24 | €7k | €622 | €907 | €357 | €11 | ▼ 96.8% |
| Financial fixed assets28 | €4k | €6k | €7k | €9k | €12k | ▲ 36.6% |
| Current assets29/58 | €131k | €187k | €172k | €187k | €165k | ▼ 12.0% |
| Amounts receivable within one year40/41 | €47k | €51k | €54k | €34k | €36k | ▲ 5.9% |
| Trade receivables40 | €47k | €51k | €54k | €34k | €27k | ▼ 19.9% |
| Other amounts receivable41 | - | - | - | - | €9k | - |
| Cash at bank and in hand54/58 | €84k | €135k | €117k | €152k | €127k | ▼ 16.2% |
| Deferred charges and accrued income490/1 | €1k | €526 | €1k | €1k | €1k | ▲ 0.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €407k | €446k | €421k | €429k | €398k | ▼ 7.4% |
| Equity10/15 | €200k | €210k | €234k | €301k | €331k | ▲ 9.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €181k | €191k | €215k | €282k | €312k | ▲ 10.4% |
| Non-distributable reserves130/1 | €181k | €191k | €215k | €282k | €312k | ▲ 10.4% |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Other1319 | €179k | €190k | €213k | €281k | €310k | ▲ 10.5% |
| Profit (loss) carried forward14 | €145 | €152 | €154 | €154 | €155 | ▲ 0.5% |
| Amounts payable17/49 | €207k | €236k | €187k | €128k | €67k | ▼ 47.6% |
| Amounts payable after more than one year17 | €90k | €71k | €50k | €29k | €8k | ▼ 74.5% |
| Financial debts170/4 | €90k | €71k | €50k | €29k | €8k | ▼ 74.5% |
| Amounts payable within one year42/48 | €117k | €165k | €137k | €99k | €60k | ▼ 39.6% |
| Current portion of amounts payable after more than one year42 | €20k | €21k | €22k | €23k | €24k | ▲ 4.5% |
| Financial debts43 | €3k | €631 | €1k | €2k | €594 | ▼ 64.1% |
| Credit institutions430/8 | €3k | €631 | €1k | €2k | €594 | ▼ 64.1% |
| Trade debts44 | €2k | €5k | €10k | €8k | €3k | ▼ 57.9% |
| Suppliers440/4 | €2k | €5k | €10k | €8k | €3k | ▼ 57.9% |
| Taxes, remuneration and social security45 | €19k | €40k | €38k | €14k | €11k | ▼ 23.8% |
| Taxes450/3 | €19k | €40k | €38k | €14k | €11k | ▼ 23.8% |
| Other amounts payable47/48 | €75k | €98k | €66k | €53k | €21k | ▼ 59.3% |
| Accrued charges and deferred income492/3 | €401 | €988 | €264 | €191 | €114 | ▼ 40.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26k | €45k | €56k | €67k | €51k | ▼ 24.2% |
| + Depreciation and write-downs630 | €19k | €19k | €12k | €12k | €12k | ▲ 3.5% |
| Operating cash flow (approximation) | €45k | €64k | €68k | €79k | €63k | ▼ 20.0% |
| Investment in fixed assets (approximation) | - | €-3k | €-1k | €-5k | €-3k | ▲ 35.5% |
| Change in cash | - | €52k | €-18k | €35k | €-25k | ▼ 171% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Highest result since 2018net €67k ▲20.4%
Operating result €104k, net result €67k, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200kEq €210k ▲5.3%
5 profitable years in a row build equity to €210k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €26k ▼44.5%
Net result drops to €26k, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200kEq €205k ▲6%
3 profitable years in a row build equity to €205k.
23-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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
Registered office, Brussel · 1 establishment unit since 2009
Ground area
1,729 m²
Building footprint
947 m²
Volume, LiDAR
20,138 m³
2 parcels, Brussels, Wallonia · tallest building 25.0 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
SQUALE SOFTWARE
since 20092.176.375.736
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1454/00X004 | Brussels | 1,013 m² | 1 · 874 m² | 24.9 m · 8 fl. |
| 62030A0331/00H007 | Wallonia | 716 m² | 1 · 73 m² | 6.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
CANOPY IT
BE 0894.004.260
Wavre · Eq €330,704
Binders Media
BE 0657.817.970
Gent · Eq €330,738
Smart.Fish
BE 0715.805.857
Geel · Eq €330,868
NBNE
BE 0809.869.727
Antwerpen · Eq €330,356
ACTIVE 6
BE 0466.095.193
Antwerpen · Eq €330,909
Of 29,993 companies in sector 62200 we hold annual accounts for 18,396. 13,454 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded14-01-2009
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
47400Retail sale of information and communication equipment
Scores and ratios are computed by Checked and are not a credit decision.