DE SPELMAKER
ActiveSummary
DE SPELMAKER has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108k and a net result of €16k. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 69% of 536 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+1
Solvency88▼-7
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.93 against 1.99 in 2024; short-term debt: 36.2% and cash: 1.2% of total assets), and 37.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← 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
62.7%
Return on assets
9.1%
Age of the figures
9 mo
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
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
1 d early
2023
on the day
2022
76 d early
2021
72 d early
2020
71 d early
2019
30 d early
← 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, abbreviated schema
Equity
€108k▼ 26.5%
2024 · €147k
Total assets
€173k▼ 18.3%
2024 · €212k
Net result
€16k▼ 6.1%
2024 · €17k
Working capital
€-5k
2024 · €63k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€18k€36k▲ 99.5%€32k▼ 9.7%€27k▼ 17.4%€23k▼ 15.2%
Net result€16k€23k▲ 42.3%€20k▼ 12.3%€17k▼ 15.9%€16k▼ 6.1%
Equity€159k▲ 11.2%€182k▲ 14.3%€202k▲ 11.0%€147k▼ 26.9%€108k▼ 26.5%
Total assets€252k=€273k▲ 8.2%€257k▼ 5.6%€212k▼ 17.8%€173k▼ 18.3%
Debt€93k▼ 14.6%€91k▼ 2.2%€56k▼ 38.6%€64k▲ 15.0%€64k▲ 0.4%
Working capital€129k▲ 1.1%€165k▲ 28.3%€144k▼ 12.9%€63k▼ 56.3%€-5k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €173k
Fixed assets
€115k ▲ 34.6%
Current assets
€58k ▼ 54.2%
Equity and liabilities €173k
Equity
€108k ▼ 26.5%
Debt
€64k ▲ 0.4%
Debt's share of the balance-sheet total rises from 30.3% to 37.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€29k▼
2024 · €33k
Cash flow
€22k▼
2024 · €23k
Current ratio
0.93▼
2024 · 1.99
Debt to equity
0.59▲
2024 · 0.43
ROE
14.5%▲
2024 · 11.4%
ROA
9.1%▲
2024 · 7.9%
Interest coverage
227.62▲
2024 · 201.96
Debt ≤ 1 year
€63k▼
2024 · €63k
Income taxes
€7k▼
2024 · €10k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €10k | €6k | €6k | €6k | ▲ 5.9% |
| Other operating charges640/8 | €32k | €32k | €16k | €19k | €22k | ▲ 14.6% |
| Non-recurring operating charges66A | €19k | - | €7k | - | - | - |
| Gross operating margin9900 | €79k | €78k | €61k | €52k | €51k | ▼ 1.7% |
| Operating profit (loss)9901 | €18k | €36k | €32k | €27k | €23k | ▼ 15.2% |
| Financial income75/76B | €21 | €1 | €381 | €634 | €385 | ▼ 39.3% |
| Recurring financial income75 | €21 | €1 | €381 | €634 | €385 | ▼ 39.3% |
| Financial charges65/66B | €243 | €176 | €260 | €161 | €127 | ▼ 21.4% |
| Recurring financial charges65 | €243 | €176 | €260 | €161 | €127 | ▼ 21.4% |
| Profit (loss) for the period before taxes9903 | €18k | €36k | €32k | €27k | €23k | ▼ 15.7% |
| Income taxes67/77 | €2k | €13k | €12k | €10k | €7k | ▼ 31.1% |
| Profit (loss) for the period9904 | €16k | €23k | €20k | €17k | €16k | ▼ 6.1% |
| Profit (loss) for the period to be appropriated9905 | €16k | €23k | €20k | €17k | €16k | ▼ 6.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €252k | €273k | €257k | €212k | €173k | ▼ 18.3% |
| Fixed assets21/28 | €103k | €95k | €89k | €85k | €115k | ▲ 34.6% |
| Tangible fixed assets22/27 | €103k | €95k | €89k | €85k | €115k | ▲ 34.6% |
| Land and buildings22 | €96k | €91k | €87k | €83k | €78k | ▼ 5.4% |
| Plant, machinery and equipment23 | €1k | €1k | €998 | €605 | €3k | ▲ 378% |
| Furniture and vehicles24 | €6k | €2k | €740 | €2k | €34k | ▲ 1,456% |
| Financial fixed assets28 | €120 | €120 | - | - | - | - |
| Current assets29/58 | €149k | €178k | €169k | €126k | €58k | ▼ 54.2% |
| Amounts receivable within one year40/41 | €40k | €32k | €47k | €54k | €55k | ▲ 2.2% |
| Trade receivables40 | €39k | €32k | €47k | €53k | €49k | ▼ 7.9% |
| Other amounts receivable41 | €1k | - | - | €1k | €7k | ▲ 481% |
| Cash at bank and in hand54/58 | €109k | €145k | €122k | €70k | €2k | ▼ 97.1% |
| Deferred charges and accrued income490/1 | €464 | - | - | €2k | €671 | ▼ 64.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €252k | €273k | €257k | €212k | €173k | ▼ 18.3% |
| Equity10/15 | €159k | €182k | €202k | €147k | €108k | ▼ 26.5% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €147k | €169k | €189k | €135k | €96k | ▼ 28.9% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €145k | €168k | €189k | €135k | €96k | ▼ 28.9% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €93k | €91k | €56k | €64k | €64k | ▲ 0.4% |
| Amounts payable within one year42/48 | €21k | €12k | €25k | €63k | €63k | ▼ 1.2% |
| Trade debts44 | €5k | €2k | €2k | €2k | €310 | ▼ 84.5% |
| Suppliers440/4 | €5k | €2k | €2k | €2k | €310 | ▼ 84.5% |
| Taxes, remuneration and social security45 | €350 | €9k | €11k | €19k | €12k | ▼ 35.0% |
| Taxes450/3 | €350 | €9k | €11k | €15k | €12k | ▼ 18.5% |
| Remuneration and social security454/9 | - | - | - | €4k | - | - |
| Other amounts payable47/48 | €15k | €2k | €12k | €42k | €50k | ▲ 17.7% |
| Accrued charges and deferred income492/3 | €72k | €78k | €31k | €787 | €2k | ▲ 132% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €23k | €20k | €17k | €16k | ▼ 6.1% |
| + Depreciation and write-downs630 | €10k | €10k | €6k | €6k | €6k | ▲ 5.9% |
| Operating cash flow (approximation) | €26k | €33k | €26k | €23k | €22k | ▼ 3.0% |
| Investment in fixed assets (approximation) | - | €-3k | €120 | €-2k | €-36k | ▼ 1,357% |
| Change in cash | - | €37k | €-23k | €-52k | €-68k | ▼ 31.9% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €200kEq €202k ▲11%
3 profitable years in a row build equity to €202k.
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €23k ▲42.3%
Operating result €36k, net result €23k, both a record.
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
31-12
Financial
Equity above €150kEq €159k ▲11.2%
Equity rises from €143k to €159k.
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-4k
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Liquidity times 5current ratio 24.81
Current ratio from 5.44 to 24.81; short-term debt falls from €39k to €7k.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Antwerpen · 1 establishment unit since 2012
Ground area
220 m²
Building footprint
127 m²
Volume, LiDAR
1,551 m³
Parcel 11810K0009/00M004, Flanders · tallest building 14.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
De Spelmaker
since 20122.211.585.152
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K0009/00M004 | Flanders | 220 m² | 1 · 127 m² | 14.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 8,315 companies in sector 90201 we hold annual accounts for 602. 489 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-08-2012
Fiscal year end31-12
Activities, NACEBEL 2025
90201Performing arts by independent artists
Scores and ratios are computed by Checked and are not a credit decision.