Checked.be
Active
BE 0888.510.991Private limited company (pre-2019)
SWITCH
Sint-Annastraat 34 ·1000 Brussel, Belgium· 19 yrs active
Sector: Real estate agency activities
(68310)
Conclusion
SWITCH has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-14k) and a net result of €-2k. Equity is shrinking by ~85.4% per year across the filed fiscal years. Its solvency ranks better than 13% of 13549 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €-14k |
| Net result | €-2k |
| Better than sector | 13% |
| Active | 19 yrs |
Financial profile
59
/ 100
Mixed profile: strong on stability, weaker on health.
All 5 axes are computed from data Checked has read.
Health
33
Profitability
66
Solvency
39
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2007, 19 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
33
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
20
2021
2
2022
10
2023
7
2024
33
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.77 (< 1.0)
-10
Quick ratio
Quick ratio 0.06 (< 0.6)
-5
Equity
Negative equity
-25
Profitability
ROE 13% (≥ 10%)
+10
Interest coverage
Interest coverage 10.2× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 21-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~85.4%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -9.6% | 29.9% | |
| Net result | €-2k | €6k | |
| Equity | €-14k | €79k | |
| Gross operating margin | €2k | €41k | |
| Total assets | €145k | €416k |
€2k
-
21-25
€-2k
+87.8%
21-25
€2k
-
21-25
€145k
-0.3%
21-25
€-14k
-15.3%
21-25
€-37k
+4.0%
21-25
€159k
+0.8%
21-25
€159k
+0.8%
21-25
0.77
+1.6%
21-25
0.06
+41.4%
21-25
-9.6%
-15.7%
21-25
-11.46
+12.5%
21-25
13.3%
-89.4%
21-25
-1.3%
+87.7%
21-25
10.17
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €2k | €-11k | €-7k | €-11k | €-3k |
| Net profit | €-2k | €-15k | €-9k | €-13k | €-4k |
| Cash flow | €2k | €-12k | €-7k | €-11k | €-4k |
| Staff costs | - | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €145k | €145k | €149k | €131k | €152k |
| Equity | €-14k | €-12k | €3k | €12k | €25k |
| Debt | €159k | €157k | €146k | €119k | €128k |
| of which ≤ 1y | €159k | €157k | €146k | €119k | €127k |
| of which > 1y | - | - | - | - | - |
| Working capital | €-37k | €-38k | €-27k | €-4k | €9k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.77 | 0.76 | 0.82 | 0.97 | 1.07 |
| Quick ratio | 0.06 | 0.04 | 0.05 | 0.02 | 0.19 |
| Working capital ratio | -25.3% | -26.2% | -17.9% | -3.1% | 5.8% |
| Solvency | -9.6% | -8.3% | 2.0% | 9.1% | 16.3% |
| Debt / equity | -11.46 | -13.10 | 48.72 | 9.93 | 5.15 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 10.17 | -27.56 | -18.62 | -28.02 | -9.13 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -1.3% | -10.3% | -6.1% | -9.7% | -2.8% |
| ROE | 13.3% | 124.9% | -301.6% | -106.1% | -17.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €145k | €145k | €149k | €131k | €152k |
| Fixed assets | 21/28 | €23k | €26k | €30k | €16k | €16k |
| Tangible fixed assets | 22/27 | €23k | €26k | €29k | €16k | €16k |
| Financial fixed assets | 28 | €200 | €200 | €200 | €200 | €200 |
| Current assets | 29/58 | €122k | €119k | €119k | €115k | €136k |
| Stocks & contracts in progress | 3 | €113k | €113k | €113k | €113k | €113k |
| Amounts receivable within one year | 40/41 | €5k | €5k | €5k | €2k | €19k |
| Cash & bank | 54/58 | €5k | €2k | €2k | €529 | €4k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €145k | €145k | €149k | €131k | €152k |
| Equity | 10/15 | €-14k | €-12k | €3k | €12k | €25k |
| Contributions / capital | 10/11 | €25k | €25k | €25k | €25k | €25k |
| Reserves | 13 | €3k | €3k | €3k | €3k | €3k |
| Accumulated profits (losses) | 14 | €-41k | €-40k | €-25k | €-15k | €-3k |
| Amounts payable | 17/49 | €159k | €157k | €146k | €119k | €128k |
| Amounts payable within one year | 42/48 | €159k | €157k | €146k | €119k | €127k |
| Trade debts payable within one year | 44 | €225 | €622 | €1k | €2k | €19k |
| Income statement | ||||||
| Gross operating margin | 9900 | €2k | €-8k | €-4k | €-8k | €-93 |
| Operating result | 9901 | €-2k | €-15k | €-9k | €-12k | €-4k |
| Financial income | 75 | - | €0 | - | - | €0 |
| Financial charges | 65 | €168 | €407 | €362 | €376 | €353 |
| Result before taxes | 9903 | €-2k | €-15k | €-9k | €-13k | €-4k |
| Net result for the period | 9904 | €-2k | €-15k | €-9k | €-13k | €-4k |
| Result to be appropriated | 9905 | €-2k | €-15k | €-9k | €-13k | €-4k |
Legal Structure
| NACE primary | Real estate agency activities(68310) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 04-04-2007 |
| Status | Active |
| Postal code | 1000 |
Establishment units
-
since 20072.163.495.819
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21808H1662/00A000 | Brussels | 81 m² | 1 · 54 m² | 16.1 m · 4 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 91 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Real estate agency activities68310Real estate activities68311
Names & trade names
| Legal nameFR | SWITCH |
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