SPADA Management · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

SPADA Management is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €58k and a net result of €42k. Its solvency ranks better than 10% of 3145 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 2 annual accounts.

Signals

2 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 3145 sector peers (2024).

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 15 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-08-2025, 23 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

How we compute the deadline

The year end is derived from 2 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	23-08-2025	23 d late	2025-00397199
31-12-2023	31-07-2024	31-08-2024	31 d late	2024-00445451

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2022, past the statistically most fragile first 3 years.

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.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Financials

Equity€58k+255.3%

Net result€42k+250.9%

Total assets€1.97M+14.5%

Solvency2.9%+2.0pp

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 23-08-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Sector comparison

Fiscal year 2024 · NACE 64, Financial services · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	2.9%	52.5%	better than 10% of 3145 sector peers
Net result	€42k	€32k	better than 58% of 3141 sector peers
Equity	€58k	€75k	better than 43% of 3146 sector peers
Gross operating margin	€144k	€52k	better than 83% of 3138 sector peers
Total assets	€1.97M	€192k	better than 95% of 3147 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Net profit

€42k

+250.9% 23-24

Total assets

€1.97M

+14.5% 23-24

Equity

€58k

+255.3% 23-24

Income taxes

€21k

+308.7% 23-24

Dividends

€859

+3.1% 23-24

Debt

€1.91M

+12.2% 23-24

Debt ≤ 1y

€962k

+13.3% 23-24

Debt > 1y

€884k

+3.8% 23-24

Show 3 other metrics

Solvency

2.9%

+210.3% 23-24

ROE

73.3%

-1.2% 23-24

ROA

2.1%

+206.4% 23-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	n/a
EBITDA	n/a
Net profit	€42k
Cash flow	n/a
Staff costs	-
Income taxes	€21k
Dividends	€859
Total assets	€1.97M
Equity	€58k
Debt	€1.91M
of which ≤ 1y	€962k
of which > 1y	€884k
Working capital	n/a
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	n/a
Quick ratio	n/a
Working capital ratio	n/a
Solvency	2.9%
Debt / equity	n/a
Long-term debt ratio	n/a
Interest coverage	n/a
Gross margin	n/a
Net margin	n/a
ROA	2.1%
ROE	73.3%
EBITDA margin	n/a
Days sales outstanding	n/a
Days payable outstanding	n/a
Inventory turnover	n/a
Days inventory (DSI)	n/a

Balance-sheet composition 2024

Assets

Fixed assets €862k · 43.9% Current assets €1.10M · 56.2%

Equity & liabilities

Equity €58k · 2.9% Debt €1.91M · 97.1%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.97M
Fixed assets	21/28	€862k
Tangible fixed assets	22/27	€862k
Current assets	29/58	€1.10M
Amounts receivable within one year	40/41	€368k
Cash & bank	54/58	€25k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.97M
Equity	10/15	€58k
Contributions / capital	10/11	€5k
Reserves	13	€53k
Amounts payable	17/49	€1.91M
Amounts payable after one year	17	€884k
Amounts payable within one year	42/48	€962k
Trade debts payable within one year	44	€2k
Income statement
Gross operating margin	9900	€144k
Operating result	9901	€101k
Financial income	75	€65k
Financial charges	65	€103k
Result before taxes	9903	€63k
Income taxes	67/77	€21k
Net result for the period	9904	€42k
Result to be appropriated	9905	€42k

This table shows the latest fiscal year. 1 prior year, with figures and ratios, belongs to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Miksebaan 2522930 Brasschaat

Establishment units

1 location

SPADA Management

Miksebaan 252, 2930 BrasschaatManagementsactiviteiten van holdings : tussenkomen in het dagelijks bestuur, vertegenwoordigen van bedrijven op grond van bezit van of controle over het maatschappelijk kapitaal, enz.

since 20222.338.367.419

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area1,002 m²

Buildings1

Building footprint382 m²

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11324D0306/00M005	Flanders	1,002 m²	1 · 382 m²	-

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 1 acts read

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.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

72 / 100

Strong profile, led by profitability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 100

Solvency 16

Growth 78

Stability 94

Credit advice

verdict per customer and amount

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We hold annual accounts for 5,579 of the 24,688 companies in this sector. 3,753 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Holdings64200Activiteiten van holdings64210

Primary activity highlighted.

Names & trade names

Legal nameNL

SPADA Management

Registered office

Miksebaan 252 bus 202

2930 Brasschaat, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.