Financials
Financial year 2025
Smart MSquare from Wingene, company number BE0649572475, closed financial year 2025 with a result of € 278,877 after tax. For that financial year Smart MSquare recorded a gross margin of € 527,460 and equity of € 416,597. Compared with financial year 2024, the result moved from € 271,252 to € 278,877. Profitable, and profit is growing. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 22, 2026.
€ 416,597
▼ 47% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 278,877
▲ 3% vs 2024
Profit after tax over the fiscal year.
€ 136,318
▼ 44% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 645,504 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
1.2
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 96,822
▼ 16% vs 2024
€ 80,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 111,706
▼ 5% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 32,888
€ 9,754 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 9,917
▼ 59% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 51,436
▼ 44% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 293,513 | € 425,712 | € 507,179 | € 527,460 | ▲ 4% |
| Profit after taxes | € 116,826 | € 176,714 | € 271,252 | € 278,877 | ▲ 3% |
| Equity | € 482,843 | € 633,310 | € 783,223 | € 416,597 | ▼ 47% |
| Total debts | € 64,231 | € 122,773 | € 230,080 | € 408,233 | ▲ 77% |
| Cash | € 162,729 | € 262,762 | € 243,696 | € 136,318 | ▼ 44% |
| Retained profit | € 464,293 | € 614,760 | € 764,673 | € 398,047 | ▼ 48% |
| Dividend | € 1,600 | € 26,247 | € 121,339 | € 645,504 | ▲ € 524,165 |
| Bank debt | € 8,094 | € 3,001 | € 0 | € 32,888 | |
| Balance sheet total | € 547,074 | € 756,083 | € 1,013,304 | € 824,830 | ▼ 19% |
| Employees (FTE) | 1.5 | 1.5 | 1.5 | 1.2 | ▼ 0.3 |
Key figures of Smart MSquare, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Smart MSquare?
What happened at Smart MSquare in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 278,877 (▲ 3% vs 2024). Source: NBB ↗
- New establishment in Bonheiden. KBO
- New establishment in Wingene. KBO
- Start of the company according to the CBE. KBO
In short
From € 116,826 profit in 2022 to € 278,877 profit in 2025.
Paid € 326,974 in corporate taxes since 2022.
Best year ever: 2025, with € 278,877 profit.
On average € 439,500 of value added per employee in 2025.
Management
Behind Smart MSquare are Michael Marreel and Emanuel Marreel. Michael Marreel is also behind VCTR. Emanuel Marreel is also behind CERAX.
Establishments
Establishment units
Physical locations of this company
Hoogstraat 6
8750 Wingene
Ravennestlaan 10
2820 Bonheiden
Active since 1 June 2019
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
OVH Mail
Hosting
OVH, FR
DNS
OVH DNS
Website info
Features
Security
Details
- Company number
- 0649.572.475
- VAT number
- BE 0649.572.475
- Registered office
- Hoogstraat 6, 8750 Wingene
- Names & denominations
- Smart MSquare · Smart M²
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 2 March 2016
- Peppol
- Active · Active since 24 Nov 2025
- Activities · NACE
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