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Generated 19-08-2026
Active BE 0659.821.318Public limited company

TreeSpoke

Leegstraat 221 ·9060 Zelzate, Belgium· 10 yrs active
Sector: Handelsbemiddeling in de groothandel in meubelen, huishoudelijke artikelen en ijzerwaren (46150)
Conclusion Checked

The computed 12-month bankruptcy probability of TreeSpoke is 1.1% (low). The 2021 annual accounts show equity of €57k and a net result of €41k. Equity is shrinking by ~46.5% per year across the filed fiscal years. Its solvency ranks better than 67% of 626 sector peers (fiscal year 2021). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.
Key figures
Equity €57k
Net result €41k
Better than sector 67%
Active 10 yrs
Financial profile 5 of 5 axes measured · computed by Checked
Health94Profitability100Solvency90Growth58Stability100
88 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 94
Profitability 100
Solvency 90
Growth 58
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
1.1% Low
0%0,5%1,5%4%10%≥25%
Annual accounts: weaker financial profile +Lower-risk legal form −Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 2 signals
Established
Founded in 2016, 10 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 Flags0 events
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.
Health barometer FY 2021 · computed
94 / 100 Excellent
050100
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.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2021. Indicative, not credit advice.
Financial overview5 NBB filings
Annual accounts filed on 11-10-2022 with the NBB · fiscal year 2021 · verkort
€-200k€-150k€-100k€-50k€0€50kOperating result 2018: €-100k€-100kNet result 2018: €-103k€-103kOperating result 2019: €-41k€-41kNet result 2019: €-135k€-135kOperating result 2020: €-19k€-19kNet result 2020: €-153k€-153kOperating result 2021: €42k€42kNet result 2021: €41k€41k2018201920202021
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~46.5%/year over 4 fiscal years, indicative, assuming unchanged policy.
€0€50k€100k€150k2022: €9k (€0 - €43k)2023: €5k (€0 - €59k)2024: €3k (€0 - €77k)2018: €132k2019: €50k2020: €15k2021: €57k2018201920202021202220232024
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 2021 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency 44.9% 29.5%
better than 67% of 626 sector peers
Net result €41k €38k
better than 51% of 626 sector peers
Equity €57k €230k
better than 29% of 627 sector peers
Gross operating margin €45k €217k
better than 26% of 625 sector peers
Total assets €127k €1.02M
better than 11% of 626 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€44k
+2635.2% 18-21
Net profit
€41k
- 18-21
Cash flow
€44k
- 18-21
Total assets
€127k
+12.3% 18-21
Equity
€57k
+270.4% 18-21
Working capital
€92k
+20.6% 18-21
Employees (FTE)
1
- 18-21
Debt
€70k
-28.4% 18-21
Show 8 other metrics
Debt ≤ 1y
€28k
-23.5% 18-21
Current ratio
4.35
+39.2% 18-21
Quick ratio
3.98
+30.5% 18-21
Solvency
44.9%
+229.9% 18-21
Debt / equity
1.23
- 18-21
ROE
73.0%
- 18-21
ROA
32.8%
- 18-21
Interest coverage
195.53
- 18-21
Figures by fiscal year
Fiscal year2021
Depositverkort
Revenue-
EBITDA€44k
Net profit€41k
Cash flow€44k
Staff costs-
Income taxes-
Dividends-
Total assets€127k
Equity€57k
Debt€70k
of which ≤ 1y€28k
of which > 1y-
Working capital€92k
Employees (FTE)-
Ratios (computed)
2021
Current ratio4.35
Quick ratio3.98
Working capital ratio73.0%
Solvency44.9%
Debt / equity1.23
Long-term debt ratio-
Interest coverage195.53
Gross margin-
Net margin-
ROA32.8%
ROE73.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2021
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2021
Balance sheet, Assets
TOTAL ASSETS 20/58€127k
Fixed assets 21/28€7k
Intangible fixed assets 21€6k
Tangible fixed assets 22/27€736
Current assets 29/58€120k
Stocks & contracts in progress 3€10k
Amounts receivable within one year 40/41€31k
Cash & bank 54/58€78k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€127k
Equity 10/15€57k
Contributions / capital 10/11€169k
Accumulated profits (losses) 14€-112k
Amounts payable 17/49€70k
Amounts payable within one year 42/48€28k
Trade debts payable within one year 44€19k
Income statement
Gross operating margin 9900€45k
Operating result 9901€42k
Financial income 75€28
Financial charges 65€226
Result before taxes 9903€41k
Net result for the period 9904€41k
Result to be appropriated 9905€41k
This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 1 directors
Former directors (1)
  • Kristel Mertens
    Director
    State Gazette act 23149151 (23-11-2023)
    Former
    - → 23-04-2019
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Legal Structure
NACE primary Handelsbemiddeling in de groothandel in meubelen, huishoudelijke artikelen en ijzerwaren(46150)
Legal form Public limited company(014)
Incorporation20-07-2016
StatusActive
Postal code9060
Establishment units 1 location
TreeSpoke
Leegstraat 221, 9060 ZelzateGroothandel in niet-elektrische huishoudelijke artikelen
since 20162.255.236.340
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

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.
43302B0311/00F000 Flanders 2,418 m² 1 · 238 m² 4.9 m · 1 fl.
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.
Updates 7 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023
23-11-2023
State Gazette act Director changes
23-11-2023
State Gazette act Director changes
2022
11-10-2022
NBB filing Annual accounts filed
fiscal year 2021 · verkort
2021
29-10-2021
NBB filing Annual accounts filed
fiscal year 2020 · verkort
2020
30-11-2020
NBB filing Annual accounts filed
fiscal year 2019 · verkort
2019
30-08-2019
NBB filing Annual accounts filed
fiscal year 2018 · verkort
2018
31-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · verkort
Belgian State Gazette reading coverage 0 of 4 acts read

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 2 acts
All acts · 2 updated 2 years ago
2023
23-11-2023 Mandate of Kristel Mertens as director expired Director changes
  • Kristel Mertens, Bestuurder
Technical details 
{
  "events": [
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Kristel Mertens",
        "address": null,
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": "end_of_term",
      "subkind": null,
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": "2019-04-23",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-11-23",
    "filing_date": "2023-11-14",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "raad_van_bestuur",
      "date": "2023-11-14",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0659.821.318",
    "name_full": "imec.istart Partners NV",
    "legal_form": "naamloze vennootschap"
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
23-11-2023 Change in the board of directors Director changes
Technical details 
{
  "events": [],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-11-23",
    "filing_date": "2023-11-14",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "raad_van_bestuur",
      "date": "2023-11-14",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0659.821.318",
    "name_full": "Treespoke",
    "legal_form": "naamloze vennootschap"
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": null,
    "org_name": "imec.istart Partners",
    "person_name": null,
    "org_rep_person_name": "Peter D\u0027Hoore",
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}
Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Activities
Handelsbemiddeling in de groothandel in meubelen, huishoudelijke artikelen en ijzerwaren46150
Primary activity highlighted.
Names & trade names
Legal nameNL TreeSpoke
Registered office
Leegstraat 221
9060 Zelzate, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative