Smile Invest Management Company
ActiveSummary
Smile Invest Management Company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €985k and a net result of €210k. Equity is growing by ~29.2% per year across the filed fiscal years. Its solvency ranks better than 40% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▼-2
Solvency66▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.8 in 2024; short-term debt: 58.9% and cash: 58.6% of total assets), but 58.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
41.1%
Return on assets
8.8%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-11-2025, 88 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
88 d early
2024
79 d early
2023
90 d early
2022
74 d early
2021
70 d early
2020
9 d early
2019
74 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€985k▲ 27.2%
2024 · €775k
2019: €202klowest in 7 years
2020: €283k▲ +40.2% vs 2019
2021: €353k▲ +24.7% vs 2020
2022: €430k▲ +21.7% vs 2021
2023: €607k▲ +41.3% vs 2022
2024: €775k▲ +27.6% vs 2023
2025: €985k▲ +27.2% vs 2024highest in 7 years
2019 → 2025
Total assets
€2.39M▲ 42.5%
2024 · €1.68M
2019: €2.48M
2020: €2.71M▲ +9.3% vs 2019
2021: €2.79M▲ +2.6% vs 2020
2022: €3.00M▲ +7.8% vs 2021
2023: €3.57M▲ +18.9% vs 2022highest in 7 years
2024: €1.68M▼ -52.9% vs 2023lowest in 7 years
2025: €2.39M▲ +42.5% vs 2024
2019 → 2025
Net result
€210k▲ 21.2%
2024 · €174k
2019: €68klowest in 7 years
2020: €81k▲ +19.3% vs 2019
2021: €70k▼ -13.7% vs 2020
2022: €77k▲ +9.3% vs 2021
2023: €180k▲ +136% vs 2022
2024: €174k▼ -3.8% vs 2023
2025: €210k▲ +21.2% vs 2024highest in 7 years
2019 → 2025
Working capital
€926k▲ 28.2%
2024 · €722k
2019: €124klowest in 7 years
2020: €314k▲ +152% vs 2019
2021: €327k▲ +4.0% vs 2020
2022: €412k▲ +26.2% vs 2021
2023: €3.12M▲ +657% vs 2022highest in 7 years
2024: €722k▼ -76.8% vs 2023
2025: €926k▲ +28.2% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€353k-€430k▲ 21.7%€607k▲ 41.3%€775k▲ 27.6%€985k▲ 27.2%
2021: €353klowest in 5 years
2022: €430k▲ +21.7% vs 2021
2023: €607k▲ +41.3% vs 2022
2024: €775k▲ +27.6% vs 2023
2025: €985k▲ +27.2% vs 2024highest in 5 years
Operating result€132k-€150k▲ 13.1%€262k▲ 75.0%€215k▼ 18.1%€296k▲ 37.8%
2021: €132klowest in 5 years
2022: €150k▲ +13.1% vs 2021
2023: €262k▲ +75.0% vs 2022
2024: €215k▼ -18.1% vs 2023
2025: €296k▲ +37.8% vs 2024highest in 5 years
Net result€70k-€77k▲ 9.3%€180k▲ 136%€174k▼ 3.8%€210k▲ 21.2%
2021: €70klowest in 5 years
2022: €77k▲ +9.3% vs 2021
2023: €180k▲ +136% vs 2022
2024: €174k▼ -3.8% vs 2023
2025: €210k▲ +21.2% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 38% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.39M
Fixed assets
€59k ▲ 9.6%
Current assets
€2.34M ▲ 43.6%
Equity and liabilities €2.39M
Equity
€985k ▲ 27.2%
Debt
€1.41M ▲ 55.6%
Debt's share of the balance-sheet total rises from 53.9% to 58.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€317k▲
2024 · €225k
Cash flow
€231k▲
2024 · €184k
Current ratio
1.66▼
2024 · 1.80
Debt to equity
1.43▲
2024 · 1.17
ROE
21.4%▼
2024 · 22.4%
ROA
8.8%▼
2024 · 10.3%
Interest coverage
27.47▼
2024 · 39.26
Debt ≤ 1 year
€1.41M▲
2024 · €904k
Income taxes
€74k▲
2024 · €40k
Staff costs
€1.79M▲
2024 · €1.25M
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 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.68M€2.39M▲
Fixed assets21/28€54k€59k▲
Intangible fixed assets21€4k€0▼
Tangible fixed assets22/27€39k€44k▲
Plant, machinery and equipment23€35k€40k▲
Furniture and vehicles24€4k€4k▼
Financial fixed assets28€11k€15k▲
Current assets29/58€1.63M€2.34M▲
Amounts receivable within one year40/41€43k€751k▲
Trade receivables40€43k€736k▲
Other amounts receivable41€200€15k▲
Cash at bank and in hand54/58€1.47M€1.40M▼
Deferred charges and accrued income490/1€115k€181k▲
Equity and liabilities
Total equity and liabilities10/49€1.68M€2.39M▲
Equity10/15€775k€985k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€72k€72k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€66k€66k=
Profit (loss) carried forward14€641k€851k▲
Amounts payable17/49€906k€1.41M▲
Amounts payable within one year42/48€904k€1.41M▲
Trade debts44€622k€978k▲
Suppliers440/4€622k€978k▲
Taxes, remuneration and social security45€276k€432k▲
Taxes450/3€48k€66k▲
Remuneration and social security454/9€228k€366k▲
Other amounts payable47/48€6k€0▼
Accrued charges and deferred income492/3€2k€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€1.25M€1.79M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€21k▲
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€241k€204k▼
Gross operating margin9900€1.72M€2.32M▲
Operating profit (loss)9901€215k€296k▲
Financial income75/76B€5k€31▼
Recurring financial income75€5k€31▼
Financial charges65/66B€6k€12k▲
Recurring financial charges65€6k€12k▲
Profit (loss) for the period before taxes9903€214k€284k▲
Income taxes67/77€40k€74k▲
Profit (loss) for the period9904€174k€210k▲
Profit (loss) for the period to be appropriated9905€174k€210k▲
Appropriation of the result
Profit (loss) to be appropriated9906€647k€851k▲
Profit (loss) brought forward from the previous period14P€473k€641k▲
Profit to be distributed694/7€6k€0▼
Employees696€6k€0▼
Social balance
Average headcount (FTE)908710.13.8▼
The notes to these accounts (12 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €932k | €963k | €1.25M | €1.79M | ▲ 43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27k | €28k | €8k | €10k | €21k | ▲ 104% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €1k | €6k | €3k | €2k | ▼ 22.5% |
| Non-recurring operating charges66A | - | - | - | €241k | €204k | ▼ 15.2% |
| Gross operating margin9900 | €705k | €1.11M | €1.24M | €1.72M | €2.32M | ▲ 34.9% |
| Operating profit (loss)9901 | €132k | €150k | €262k | €215k | €296k | ▲ 37.8% |
| Financial income75/76B | - | €74 | €410 | €5k | €31 | ▼ 99.4% |
| Recurring financial income75 | €436 | €74 | €410 | €5k | €31 | ▼ 99.4% |
| Financial charges65/66B | - | €17k | €17k | €6k | €12k | ▲ 101% |
| Recurring financial charges65 | €17k | €17k | €17k | €6k | €12k | ▲ 101% |
| Profit (loss) for the period before taxes9903 | €116k | €133k | €245k | €214k | €284k | ▲ 33.0% |
| Income taxes67/77 | €46k | €57k | €65k | €40k | €74k | ▲ 83.4% |
| Profit (loss) for the period9904 | €70k | €77k | €180k | €174k | €210k | ▲ 21.2% |
| Profit (loss) for the period to be appropriated9905 | €70k | €77k | €180k | €174k | €210k | ▲ 21.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.79M | €3.00M | €3.57M | €1.68M | €2.39M | ▲ 42.5% |
| Fixed assets21/28 | €40k | €31k | €31k | €54k | €59k | ▲ 9.6% |
| Intangible fixed assets21 | €3k | €13k | €8k | €4k | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €27k | €6k | €12k | €39k | €44k | ▲ 11.3% |
| Land and buildings22 | - | €0 | - | - | - | - |
| Plant, machinery and equipment23 | - | €5k | €6k | €35k | €40k | ▲ 14.6% |
| Furniture and vehicles24 | - | €987 | €6k | €4k | €4k | ▼ 15.5% |
| Financial fixed assets28 | €11k | €11k | €11k | €11k | €15k | ▲ 39.9% |
| Current assets29/58 | €2.74M | €2.97M | €3.54M | €1.63M | €2.34M | ▲ 43.6% |
| Amounts receivable within one year40/41 | €1.52M | €1.78M | €2.19M | €43k | €751k | ▲ 1,643% |
| Trade receivables40 | - | €1.78M | €2.18M | €43k | €736k | ▲ 1,615% |
| Other amounts receivable41 | - | €200 | €2k | €200 | €15k | ▲ 7,454% |
| Cash at bank and in hand54/58 | €1.18M | €1.18M | €1.30M | €1.47M | €1.40M | ▼ 4.4% |
| Deferred charges and accrued income490/1 | - | €16k | €58k | €115k | €181k | ▲ 57.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.79M | €3.00M | €3.57M | €1.68M | €2.39M | ▲ 42.5% |
| Equity10/15 | €353k | €430k | €607k | €775k | €985k | ▲ 27.2% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €72k | €72k | €72k | €72k | €72k | = |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €66k | €66k | €66k | €66k | = |
| Profit (loss) carried forward14 | €219k | €296k | €473k | €641k | €851k | ▲ 32.9% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €2.43M | €2.57M | €2.97M | €906k | €1.41M | ▲ 55.6% |
| Amounts payable within one year42/48 | €2.42M | €2.56M | €421k | €904k | €1.41M | ▲ 55.9% |
| Trade debts44 | €276k | €331k | €207k | €622k | €978k | ▲ 57.2% |
| Suppliers440/4 | - | €331k | €207k | €622k | €978k | ▲ 57.2% |
| Taxes, remuneration and social security45 | - | €204k | €214k | €276k | €432k | ▲ 56.6% |
| Taxes450/3 | - | €42k | €49k | €48k | €66k | ▲ 36.8% |
| Remuneration and social security454/9 | - | €162k | €165k | €228k | €366k | ▲ 60.8% |
| Other amounts payable47/48 | - | €2.03M | €0 | €6k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €13k | €2.54M | €2k | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €70k | €77k | €180k | €174k | €210k | ▲ 21.2% |
| + Depreciation and write-downs630 | €27k | €28k | €8k | €10k | €21k | ▲ 104% |
| Operating cash flow (approximation) | €97k | €105k | €188k | €184k | €231k | ▲ 25.8% |
| Investment in fixed assets (approximation) | - | €-19k | €-8k | €-33k | €-26k | ▲ 21.7% |
| Change in cash | - | €-2k | €121k | €173k | €-65k | ▼ 137% |
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
02-09
State Gazette act
Withdrawal: Maelvest BV (lid van het smile invest investeringscomité)Power of attorney7 facts ▸
State Gazette act
Withdrawal: Maelvest BV (lid van het smile invest investeringscomité)
Power of attorney7 facts ▸
- Board meeting, 02-07-2026
- Member resignation, Maelvest BV (lid van het smile invest investeringscomité (of smile invest adviescomité))
- Power of attorney, Maelvest BV
- Power of attorney
- Power of attorney, VGD Accountants en Belastingconsulenten
- Power of attorney, Julie SLEGERS
- Power of attorney, Neelke DE VRIENDT
25-03
State Gazette act
Appointments: Dr. Ir. U. Vandeurzen Management Firm NV, DAB Management BV and 6 othersPermanent representatives: Urbanus Vandeurzen, Dirk Boogmans and 5 others · Resignations: Mithos BV, Maelvest BV and Sofeju B.V. · Mandate compensation31 facts ▸
State Gazette act
Appointments: Dr. Ir. U. Vandeurzen Management Firm NV, DAB Management BV and 6 others
Permanent representatives: Urbanus Vandeurzen, Dirk Boogmans and 5 others · Resignations: Mithos BV, Maelvest BV and Sofeju B.V. · Mandate compensation31 facts ▸
- Board meeting, 16/12/2025
- Director appointment, Dr. Ir. U. Vandeurzen Management Firm NV (lid van het smile invest executief comité)
- Permanent representative, Urbanus Vandeurzen
- Director appointment, DAB Management BV (lid van het smile invest executief comité)
- Permanent representative, Dirk Boogmans
- Director appointment, Dr. Ir. U. Vandeurzen Management Firm NV (lid van het smile invest adviescomité (vf capital smile invest ic lid))
- Director appointment, Mithos BV (lid van het smile invest adviescomité (sleutelpersoon smile invest ic lid))
- Permanent representative, Bart Cauberghe
- Director appointment, Maelvest BV (lid van het smile invest adviescomité (sleutelpersoon smile invest ic lid))
- Permanent representative, Thomas Dewever
- Director appointment, Sofeju B.V. (lid van het smile invest adviescomité (sleutelpersoon smile invest ic lid))
- Permanent representative, Ivo Vincente
- +19 further facts in this act
2025
04-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
Financial
Highest result since 2019net €210k ▲21.2%
Operating result €296k, net result €210k, both a record.
2024
13-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
02-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Liquidity times 7current ratio 8.41
Current ratio from 1.16 to 8.41; short-term debt falls from €2.56M to €421k.
30-06
Financial
Equity above €500kEq €607k ▲41.3%
5 profitable years in a row build equity to €607k.
2022
18-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
22-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
22-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
18-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
16-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 16 acts read
About the unread acts
Of the 16 Belgian State Gazette acts we know for this company, 2 have been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26042351). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Adrianus Notenboom
CurrentNederlandse smile invest lasthebber b · since 01-01-2026
DAB Management
CurrentLid van het smile invest executief comité · since 01-01-2026 · Private limited company · perm. rep.: Dirk Boogmans
Maelvest BV
CurrentLid van het smile invest adviescomité (sleutelpersoon smile invest ic lid) · since 01-01-2026 · Legal entity · perm. rep.: Thomas Dewever
MITHOS
CurrentLid van het smile invest adviescomité (sleutelpersoon smile invest ic lid) · since 01-01-2026 · Private limited company · perm. rep.: Bart Cauberghe
P.F.J. Capital
CurrentLid van het smile invest adviescomité (overige smile invest ic lid) · since 01-01-2026 · Foreign entity · perm. rep.: Paul Lamers
Van den Bruinhorst Management Consultancy B.V.
CurrentLid van het smile invest adviescomité (overige smile invest ic lid) · since 01-01-2026 · Legal entity · perm. rep.: Willem van den Bruinhorst
1 other director
DR. IR. U. VANDEURZEN MANAGEMENT FIRM
CurrentLid van het smile invest executief comité · since 16-12-2025 · Public limited company · perm. rep.: Urbanus Vandeurzen
01-01-2026
Adrianus Notenboom: Appointed as Nederlandse smile invest lasthebber b
01-01-2026
DAB Management: Appointed as Lid van het smile invest executief comité
01-01-2026
DAB Management: Appointed as Lid van het smile invest adviescomité (overige smile invest ic lid)
01-01-2026
Maelvest BV: Appointed as Lid van het smile invest adviescomité (sleutelpersoon smile invest ic lid)
01-01-2026
Maelvest BV: Appointed as Belgische smile invest lasthebber b
Not every act has been read: a resignation may be missing here
14 of this company's 16 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Lubbeek · 1 establishment unit since 2017
Ground area
5.2 ha
Building footprint
642 m²
Volume, LiDAR
8,010 m³
Parcel 24063C0090/00C000, Flanders · tallest building 22.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Smile Invest Management Company
since 20172.264.595.355
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24063C0090/00C000 | Flanders | 5.2 ha | 1 · 642 m² | 22.2 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Articles of association
Other provisions of the articles (1)
- Other statement
Structure & network
Connections & network
10 connected companiesThis company
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
Recognitions · licences · registrations
Legal Entity Identifier
6488D50S0TH2M5S1E111
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Identification & contact
Identification
Legal formPublic limited company
Founded24-05-2017
Fiscal year end30-06
Abbreviation
SMC
Abbreviation EN
Smile Management Company
Abbreviation NL
SIMC
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
82100Office administrative and support services
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.