SPACO
ActiveSummary
The computed 12-month bankruptcy probability of SPACO is 1.8% (moderate). The 2025 annual accounts show equity of €29k and a net result of €47k. Equity is growing by ~64% per year across the filed fiscal years. Its solvency ranks better than 29% of 787 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency46▼-1
Growth78=
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity tight (current ratio 1.27 against 1.29 in 2024; short-term debt: 78.9% and cash: 42.9% of total assets), and 79.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 78
Relative position
BE, all sectors
reference
Sector 78
lower
← 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
20.8%
Return on assets
33.5%
Age of the figures
9 mo
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 13-03-2026, 140 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
140 d early
2024
26 d late
2023
29 d early
2022
32 d late
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€29k▲ 32.5%
2024 · €22k
2022: €5k
2023: €4k
2024: €22k
2022 → 2025
Total assets
€141k▲ 42.6%
2024 · €99k
2022: €21k
2023: €16k
2024: €99k
2022 → 2025
Net result
€47k▼ 31.0%
2024 · €68k
2022: €1k
2023: €-807
2024: €68k
2022 → 2025
Working capital
€30k▲ 33.9%
2024 · €22k
2022: €5k
2023: €4k
2024: €22k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€5k-€4k▼ 17.8%€22k▲ 495%€29k▲ 32.5%
Operating result€2k-€-699€89k€62k▼ 29.8%
Net result€1k-€-807€68k€47k▼ 31.0%
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 2025; 2025 is 30% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €141k
Equity
€29k ▲ 32.5%
Debt
€112k ▲ 45.6%
Debt's share of the balance-sheet total rises from 77.6% to 79.2%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.27▼
2024 · 1.29
Debt to equity
3.80▲
2024 · 3.46
ROE
160.7%▼
2024 · 308.7%
ROA
33.5%▼
2024 · 69.3%
Debt ≤ 1 year
€111k▲
2024 · €77k
Income taxes
€13k▼
2024 · €18k
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 · 35 lines
Balance sheet
Code20242025
Assets
Total assets20/58€99k€141k▲
Current assets29/58€99k€141k▲
Amounts receivable within one year40/41€3k€81k▲
Trade receivables40€3k€76k▲
Other amounts receivable41€0€4k▲
Cash at bank and in hand54/58€96k€60k▼
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€99k€141k▲
Equity10/15€22k€29k▲
Contributions10/11€4k€4k=
Profit (loss) carried forward14€19k€26k▲
Amounts payable17/49€77k€112k▲
Amounts payable within one year42/48€77k€111k▲
Trade debts44€7k€42k▲
Suppliers440/4€7k€42k▲
Taxes, remuneration and social security45€19k€19k▼
Taxes450/3€19k€19k▼
Other amounts payable47/48€50k€50k▼
Accrued charges and deferred income492/3-€310
Income statement
Code20242025
Other operating charges640/8-€400
Non-recurring operating charges66A€0-
Gross operating margin9900€89k€63k▼
Operating profit (loss)9901€89k€62k▼
Financial income75/76B€41€0▼
Recurring financial income75€41€0▼
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€87k€60k▼
Income taxes67/77€18k€13k▼
Profit (loss) for the period9904€68k€47k▼
Profit (loss) for the period to be appropriated9905€68k€47k▼
Appropriation of the result
Profit (loss) to be appropriated9906€69k€66k▼
Profit (loss) brought forward from the previous period14P€225€19k▲
Profit to be distributed694/7€50k€40k▼
Return on contributions (dividend)694€50k€40k▼
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Back to profitnet €68k
Net result €68k after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-807 ▼178%
Net result drops to €-807, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Oudergem · 1 establishment unit since 2022
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.
G. E. Lebonlaan 901160 Oudergem1 establishment unit
SPACO
since 20222.327.251.120
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Of 2,361 companies in sector 78100 we hold annual accounts for 1,364. 966 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
78100Employment placement agencies
70200Business and other management consultancy
73300Public relations and communication consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filings
Scores and ratios are computed by Checked and are not a credit decision.