A.SPIRE
ActiveSummary
A.SPIRE has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €692,385 and a net result of -€30,316. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 63% of 3243 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▼-57
Solvency93▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 8.16 against 5.93 in 2024; short-term debt: 12.1% and cash: 86.8% of total assets), and 31.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
68.5%
Return on assets
-3%
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
15 d early
2023
315 d late
2022
17 d early
2021
23 d early
2020
18 d early
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 32 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 14 July (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€577,750
EBIT margin
-16.0%
Net result
-€30,316
2024 · €25,921
Working capital
€878,192▲ 3.5%
2024 · €848,407
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€153,681▲ 52.2%€61,411▼ 60.0%€20,734▼ 66.2%€28,742▲ 38.6%-€26,988
Net result€151,618within the sector's middle half▲ 52.6%€58,820within the sector's middle half▼ 61.2%€18,299within the sector's middle half▼ 68.9%€25,921within the sector's middle half▲ 41.7%-€30,316below the sector's middle half
EBIT margin
Equity€619,661within the sector's middle half▲ 32.4%€678,481within the sector's middle half▲ 9.5%€696,780within the sector's middle half▲ 2.7%€722,701within the sector's middle half▲ 3.7%€692,385within the sector's middle half▼ 4.2%
Total assets€727,793within the sector's middle half▲ 25.7%€797,422within the sector's middle half▲ 9.6%€891,841within the sector's middle half▲ 11.8%€1.0mwithin the sector's middle half▲ 16.7%€1.0mwithin the sector's middle half▼ 2.9%
Debt€108,132▼ 2.5%€118,941▲ 10.0%€195,061▲ 64.0%€318,327▲ 63.2%€318,931▲ 0.2%
Working capital€613,309above the sector's middle half▲ 18.0%€696,065above the sector's middle half▲ 13.5%€737,851above the sector's middle half▲ 6.0%€848,407above the sector's middle half▲ 15.0%€878,192within the sector's middle half▲ 3.5%
Solvency85.1%above the sector's middle half▲ 4.3pp85.1%above the sector's middle half▼ 0.1pp78.1%above the sector's middle half▼ 7.0pp69.4%within the sector's middle half▼ 8.7pp68.5%within the sector's middle half▼ 1.0pp
Current ratio9.57above the sector's middle half▼ 0.8911.17above the sector's middle half▲ 1.606.70above the sector's middle half▼ 4.475.93above the sector's middle half▼ 0.778.16above the sector's middle half▲ 2.23
Return on assets (ROA)20.8%above the sector's middle half▲ 3.7pp7.4%within the sector's middle half▼ 13.5pp2.1%within the sector's middle half▼ 5.3pp2.5%within the sector's middle half▲ 0.4pp-3.0%below the sector's middle half▼ 5.5pp
Staff (FTE)3.3within the sector's middle half▼ 2.9%3.1within the sector's middle half▼ 6.1%3.3within the sector's middle half▲ 6.5%5.5within the sector's middle half▲ 66.7%5.7within the sector's middle half▲ 3.6%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €26,988 after €28,742 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€10,471 ▼ 49.2%
Current assets
€1.0m ▼ 1.9%
Equity and liabilities €1.0m
Equity
€692,385 ▼ 4.2%
Debt
€318,931 ▲ 0.2%
Debt's share of the balance-sheet total rises from 30.6% to 31.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€16,866▼
2024 · €38,683
Cash flow
-€20,194▼
2024 · €35,862
Debt to equity
0.46▲
2024 · 0.44
ROE
-4.4%▼
2024 · 3.6%
Interest coverage
-5.07▼
2024 · 13.71
Debt ≤ 1 year
€122,653▼
2024 · €172,029
Staff costs
€560,270▲
2024 · €540,523
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,910 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €307,188 | €304,712 | €426,994 | €540,523 | €560,270 | ▲ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,834 | €9,991 | €9,814 | €9,941 | €10,122 | ▲ 1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €16,500 | - |
| Other operating charges640/8 | €1,236 | €8,049 | €2,276 | €3,197 | €24,888 | ▲ 679% |
| Gross operating margin9900 | €463,940 | €384,164 | €459,819 | €582,403 | €584,792 | ▲ 0.4% |
| Operating profit (loss)9901 | €153,681 | €61,411 | €20,734 | €28,742 | -€26,988 | ▼ 194% |
| Financial income75/76B | - | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | - | €0 | - |
| Financial charges65/66B | €2,063 | €2,591 | €2,436 | €2,821 | €3,328 | ▲ 18.0% |
| Recurring financial charges65 | €2,063 | €2,591 | €2,436 | €2,821 | €3,328 | ▲ 18.0% |
| Profit (loss) for the period before taxes9903 | €151,618 | €58,820 | €18,299 | €25,921 | -€30,316 | ▼ 217% |
| Profit (loss) for the period9904 | €151,618 | €58,820 | €18,299 | €25,921 | -€30,316 | ▼ 217% |
| Profit (loss) for the period to be appropriated9905 | €151,618 | €58,820 | €18,299 | €25,921 | -€30,316 | ▼ 217% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €727,793 | €797,422 | €891,841 | €1.0m | €1.0m | ▼ 2.9% |
| Fixed assets21/28 | €42,891 | €32,900 | €24,550 | €20,592 | €10,471 | ▼ 49.2% |
| Intangible fixed assets21 | €38,197 | €30,558 | €22,918 | €15,279 | €7,639 | ▼ 50.0% |
| Tangible fixed assets22/27 | €4,694 | €2,342 | €1,632 | €5,314 | €2,831 | ▼ 46.7% |
| Furniture and vehicles24 | €4,694 | €2,342 | €1,632 | €5,314 | €2,831 | ▼ 46.7% |
| Current assets29/58 | €684,902 | €764,522 | €867,291 | €1.0m | €1.0m | ▼ 1.9% |
| Amounts receivable within one year40/41 | €38,415 | €45,686 | €93,159 | €98,349 | €117,153 | ▲ 19.1% |
| Trade receivables40 | €28,105 | €4,176 | €55,898 | €55,591 | €53,221 | ▼ 4.3% |
| Other amounts receivable41 | €10,310 | €41,509 | €37,261 | €42,757 | €63,932 | ▲ 49.5% |
| Cash at bank and in hand54/58 | €640,367 | €709,203 | €765,972 | €915,945 | €878,279 | ▼ 4.1% |
| Deferred charges and accrued income490/1 | €6,120 | €9,634 | €8,160 | €6,142 | €5,413 | ▼ 11.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €727,793 | €797,422 | €891,841 | €1.0m | €1.0m | ▼ 2.9% |
| Equity10/15 | €619,661 | €678,481 | €696,780 | €722,701 | €692,385 | ▼ 4.2% |
| Profit (loss) carried forward14 | €619,661 | €678,481 | €696,780 | €722,701 | €692,385 | ▼ 4.2% |
| Amounts payable17/49 | €108,132 | €118,941 | €195,061 | €318,327 | €318,931 | ▲ 0.2% |
| Amounts payable within one year42/48 | €71,593 | €68,457 | €129,440 | €172,029 | €122,653 | ▼ 28.7% |
| Trade debts44 | €34,118 | €17,240 | €69,076 | €94,520 | €26,491 | ▼ 72.0% |
| Suppliers440/4 | €34,118 | €17,240 | €69,076 | €94,520 | €26,491 | ▼ 72.0% |
| Taxes, remuneration and social security45 | €37,475 | €51,217 | €60,365 | €77,509 | €96,162 | ▲ 24.1% |
| Taxes450/3 | €4,603 | €11,156 | €8,580 | €8,014 | €10,987 | ▲ 37.1% |
| Remuneration and social security454/9 | €32,872 | €40,061 | €51,785 | €69,495 | €85,175 | ▲ 22.6% |
| Accrued charges and deferred income492/3 | €36,539 | €50,484 | €65,621 | €146,298 | €196,278 | ▲ 34.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €151,618 | €58,820 | €18,299 | €25,921 | -€30,316 | ▼ 217% |
| + Depreciation and write-downs630 | €1,834 | €9,991 | €9,814 | €9,941 | €10,122 | ▲ 1.8% |
| Operating cash flow (approximation) | €153,453 | €68,812 | €28,113 | €35,862 | -€20,194 | ▼ 156% |
| Investment in fixed assets (approximation) | - | €0 | -€1,464 | -€5,983 | €0 | ▲ 100% |
| Change in cash | - | €68,836 | €56,769 | €149,973 | -€37,666 | ▼ 125% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
19-03
State Gazette act
Appointments: Adrian Daeppen, Francesca Cavezza and Jeromine Albertini5 facts ▸
State Gazette act
Appointments: Adrian Daeppen, Francesca Cavezza and Jeromine Albertini
5 facts ▸
- Board meeting, 25/11/2025
- Board meeting, 06/02/2026
- Director appointment, Adrian Daeppen (director)
- Director appointment, Francesca Cavezza (director)
- Director appointment, Jeromine Albertini (remplaçante temporaire)
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 315 days late
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €151,618 ▲52.6%
Operating result €153,681, net result €151,618, both a record.
31-12
Financial
Equity above €500,000Eq €619,661 ▲32.4%
2 profitable years in a row build equity to €619,661.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €99,368
Net result €99,368 after 2 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 10.45
Current ratio from 4.33 to 10.45; short-term debt falls from €110,900 to €54,987.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€111,393
Net result drops to -€111,393, the lowest in the series; recovery starts the following year.
02-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 33 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 14 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 18 acts read
About the unread acts
Of the 18 Belgian State Gazette acts we know for this company, 1 has been read. The other 17 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 (26038993). 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.
Board 2
Adrian Daeppen
CurrentDirector · since 25-11-2025
Francesca Cavezza
CurrentDirector · since 26-11-2025
Other functions 1
Jeromine Albertini
CurrentRemplaçante temporaire · since 06-02-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
17 of this company's 18 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, Etterbeek · 1 establishment unit since 2012
Ground area
1.4 ha
Building footprint
3,299 m²
Volume, LiDAR
72,629 m³
2 parcels, Brussels · tallest building 58.6 m, ±15 floors. Linked by address, not a title deed.
137
companies at this address
See who is registered here
1 establishment unit
A.SPIRE
since 20122.213.850.992
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0498/00A000 | Brussels | 9,604 m² | 1 · 1,500 m² | 8.5 m |
| 21805E0283/00C000 | Brussels | 3,919 m² | 1 · 1,800 m² | 58.6 m · 15 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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.
Mandate history
3 people since 2025, 3 in office
- Board
- Other function
| Name | Functions and periods |
|---|---|
| Adrian Daeppen |
|
| Francesca Cavezza |
|
| Jeromine Albertini |
|
Structure & network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Public money · subsidies and aid
European Union, budget
2023 to 2024 · 9 entries · 1,177,210 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2024 | 2 | 584,547 EUR |
| 2023 | 7 | 592,663 EUR |
Projects
THESEUS - A FIRST OF A KIND HUB FOR CIRCULARITY DEMONSTRATOR FOR ATTICA AND PERIPHERAL REGIONS
SKILLS4EII - SKILLS ALLIANCE FOR THE GREEN, DIGITAL AND SOCIAL TRANSFORMATION OF THE ENERGY INTENSIVE INDUSTRIES
2DPLOY - DEVELOPMENT OF AN INNOVATION PIPELINE TO FACILITATE AND PROMOTE FUNDING PROPOSALS FOR DEPLOYMENT OF LOW CARBON TECHNOLOGIES
LEADS - CREATING AND MANAGING A PIPELINE OF H2020 PROJECTS FOR THE INNOVATION FUND ON CCUS
SET-INDEU - STRATEGIC ENERGY TECHNOLOGY FOR INDUSTRY IN EUROPE
European research
11 projects · 1,836,281 EUR EU contributionProgrammes
Projects
REVERSIBLE THERMODYNAMIC ENERGY STORAGE FOR RENEWABLE ENERGY CARRIERS VIA EFFICIENT WORK TO HEAT TO WORK TRANSFORMATION FOR THE PROCESS INDUSTRIES
A First of a kind Hub for circularity demonstrator for Attica and peripheral regions
Development of an innovation pipeline to facilitate and promote funding proposals for deployment of low carbon technologies
INCENTIVISE5.0 - INcentivising Change and Empowering Transformative Innovative Value chains and Inclusive Sustainability in Energy intensive industries
CREATING AND MANAGING A PIPELINE OF H2020 PROJECTS FOR THE INNOVATION FUND ON CCUS
Show 6 more projects
Strategic Energy Technology for Industry in Europe
Synergies for Policy alignment, INitiative Design and Implementation for Industrial DECarbonisation
INdustrial Decarbonisation through the sUpport and Coordination of the Energy transition
Futuring European Industry
Harmonised assessment of regulatory bottlenecks and standardisation needs for the process industry
Setting the framework for the enhanced impact of SPIRE projects
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 31,699 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formInt'l non-profit association
Founded04-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
94110Activities of business and employers' organisations
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848414953
Registered
17-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.