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E - SPACES

Active1 interim measure
Public limited companyfounded 199630 yrs activeHageveld 37, 9320 Aalst, BelgiumKBO/BCE: BE 0458.298.472
Summary

The file of E - SPACES contains 1 interim measure, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 1.1% (low). The 2025 annual accounts show equity of €43,938 and a net result of -€8,245. Equity is shrinking by ~4.8% per year across the filed fiscal years.

Checked score

Score 2025
Axes · tick = 2024
Profitability0▼-41
Solvency100=
Growth58=
Track record80
Bankruptcy probability, 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days only on tighter terms
Liquidity ample (current ratio 15.9 against 22.7 in 2024; short-term debt: 6.3% of total assets), and 6.3% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 30 years 0 40 y
raises risk · Interim administrator appointed
A court appointed an interim administrator, which usually happens once continuity is already under threat.
Belgian State Gazette
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
93.7%
Return on assets
-17.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
1 d early
2024
22 d late
2023
9 d late
2022
5 d late
2021
29 d late
2020
31 d late
2019
29 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 18 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 10 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

E - SPACES was incorporated on 28 June 1996.1 Total assets fell from EUR 71,567 in 2018 to EUR 46,886 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, micro schema

Equity
€43,938▼ 15.8%
2024 · €52,183
Total assets
€46,886▼ 14.1%
2024 · €54,588
Net result
-€8,245
2024 · €826
Working capital
€43,938▼ 15.8%
2024 · €52,183
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-€12,055▲ 0.1%-€57▲ 99.5%-€1,942▼ 3,307%-€2,341▼ 20.6%-€11,076▼ 373%
Net result-€8,198▼ 29.5%€3,426€1,095▼ 68.0%€826▼ 24.5%-€8,245
Equity€46,835▼ 14.9%€50,262▲ 7.3%€51,357▲ 2.2%€52,183▲ 1.6%€43,938▼ 15.8%
Total assets€49,905▼ 14.0%€53,389▲ 7.0%€53,299▼ 0.2%€54,588▲ 2.4%€46,886▼ 14.1%
Debt€3,070▲ 1.8%€3,127▲ 1.9%€1,942▼ 37.9%€2,405▲ 23.8%€2,948▲ 22.6%
Working capital€46,835▼ 14.9%€50,262▲ 7.3%€51,357▲ 2.2%€52,183▲ 1.6%€43,938▼ 15.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€15,000-€10,000-€5,000€0€5,000Operating result 2021: -€12,055-€12,055Net result 2021: -€8,198-€8,198Operating result 2022: -€57-€57Net result 2022: €3,426€3,426Operating result 2023: -€1,942-€1,942Net result 2023: €1,095€1,095Operating result 2024: -€2,341-€2,341Net result 2024: €826€826Operating result 2025: -€11,076-€11,076Net result 2025: -€8,245-€8,24520212022202320242025-€15,000-€10,000-€5,000€0Operating result 2023: -€1,942-€1,940Net result 2023: €1,095€1,100Operating result 2024: -€2,341-€2,340Net result 2024: €826€826Operating result 2025: -€11,076-€11,100Net result 2025: -€8,245-€8,250202320242025
The operating result stays negative: a loss of €11,076 in 2025 against €2,341 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €46,886
Equity €43,938 ▼ 15.8%
Debt €2,948 ▲ 22.6%
Debt's share of the balance-sheet total rises from 4.4% to 6.3%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
Current ratio
15.90▼
2024 · 22.70
Debt to equity
0.07▲
2024 · 0.05
ROE
-18.8%▼
2024 · 1.6%
ROA
-17.6%▼
2024 · 1.5%
Debt ≤ 1 year
€2,948▲
2024 · €2,405
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 5,836 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
1.5% went bankrupt
13% stopped otherwise
84% still going

A further 0.7% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 5,836 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 28 lines
Balance sheet Code20242025
Assets
Total assets20/58€54,588€46,886▼
Current assets29/58€54,588€46,886▼
Amounts receivable within one year40/41€54,588€46,886▼
Other amounts receivable41€54,588€46,886▼
Equity and liabilities
Total equity and liabilities10/49€54,588€46,886▼
Equity10/15€52,183€43,938▼
Contributions10/11€62,000€62,000=
Capital10€62,000€62,000=
Issued capital100€62,000€62,000=
Reserves13€9,308€9,308=
Non-distributable reserves130/1€5,489€5,489=
Legal reserve130€5,489€5,489=
Distributable reserves133€3,819€3,819=
Profit (loss) carried forward14-€19,125-€27,370▼
Amounts payable17/49€2,405€2,948▲
Amounts payable within one year42/48€2,405€2,948▲
Trade debts44€2,405€2,948▲
Suppliers440/4€2,405€2,948▲
Income statement Code20242025
Other operating charges640/8€478€478=
Gross operating margin9900-€1,864-€10,599▼
Operating profit (loss)9901-€2,341-€11,076▼
Financial income75/76B€3,168€2,831▼
Recurring financial income75€3,168€2,831▼
Profit (loss) for the period before taxes9903€826-€8,245▼
Profit (loss) for the period9904€826-€8,245▼
Profit (loss) for the period to be appropriated9905€826-€8,245▼
Appropriation of the result
Profit (loss) to be appropriated9906-€19,125-€27,370▼
Profit (loss) brought forward from the previous period14P-€19,951-€19,125▲

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Other operating charges640/8--€1,878€478€478=
Gross operating margin9900-€12,055-€57-€64-€1,864-€10,599▼ 469%
Operating profit (loss)9901-€12,055-€57-€1,942-€2,341-€11,076▼ 373%
Financial income75/76B€3,857€3,483€3,037€3,168€2,831▼ 10.6%
Recurring financial income75€3,857€3,483€3,037€3,168€2,831▼ 10.6%
Profit (loss) for the period before taxes9903-€8,198€3,426€1,095€826-€8,245▼ 1,098%
Profit (loss) for the period9904-€8,198€3,426€1,095€826-€8,245▼ 1,098%
Profit (loss) for the period to be appropriated9905-€8,198€3,426€1,095€826-€8,245▼ 1,098%
Line20212022202320242025Change
Assets
Total assets20/58€49,905€53,389€53,299€54,588€46,886▼ 14.1%
Current assets29/58€49,905€53,389€53,299€54,588€46,886▼ 14.1%
Amounts receivable within one year40/41€49,905€53,389€53,299€54,588€46,886▼ 14.1%
Other amounts receivable41€49,905€53,389€53,299€54,588€46,886▼ 14.1%
Equity and liabilities
Total equity and liabilities10/49€49,905€53,389€53,299€54,588€46,886▼ 14.1%
Equity10/15€46,835€50,262€51,357€52,183€43,938▼ 15.8%
Contributions10/11€62,000€62,000€62,000€62,000€62,000=
Capital10€62,000€62,000€62,000€62,000€62,000=
Issued capital100€62,000€62,000€62,000€62,000€62,000=
Reserves13€9,308€9,308€9,308€9,308€9,308=
Non-distributable reserves130/1€5,489€5,489€5,489€5,489€5,489=
Legal reserve130€5,489€5,489€5,489€5,489€5,489=
Distributable reserves133€3,819€3,819€3,819€3,819€3,819=
Profit (loss) carried forward14-€24,473-€21,046-€19,951-€19,125-€27,370▼ 43.1%
Amounts payable17/49€3,070€3,127€1,942€2,405€2,948▲ 22.6%
Amounts payable within one year42/48€3,070€3,127€1,942€2,405€2,948▲ 22.6%
Trade debts44€3,070€3,127€1,942€2,405€2,948▲ 22.6%
Suppliers440/4€3,070€3,127€1,942€2,405€2,948▲ 22.6%
Line20212022202320242025Change
Profit (loss) for the period9904-€8,198€3,426€1,095€826-€8,245▼ 1,098%
Operating cash flow (approximation)-€8,198€3,426€1,095€826-€8,245▼ 1,098%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 30-04-2027
2026
29-04
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
22-05
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
09-05
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
05-05
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 5 days late
2022
30-09
Financial Back to profitnet €3,426
Net result €3,426 after 4 loss-making years.
29-05
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-05
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
29-05
NBB filing Annual accounts filed
fiscal year 2019 · micro schema · 29 days late
2019
30-09
Financial Weakest financial yearnet -€9,945
Net result drops to -€9,945, the lowest in the series; recovery starts the following year.
31-05
Interim measure Provisional administrator
Ondernemingsrechtbank Gent · event 27-05-2019
21-05
NBB filing Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
30-04
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
29-05
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 2001
seat establishment The establishment unit on the map
Ground area
418 m²
Building footprint
237 m²
Volume, LiDAR
702 m³
Parcel 41014A0681/00A002, Flanders · tallest building 5.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Hageveld 37, 9320 Aalst
Scientific research and development
since 20012.078.551.137
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
41014A0681/00A002 Flanders 418 m² 1 · 237 m² 5.3 m · 1 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.

Identification & contact

Identification
Legal formPublic limited company
Founded28-06-1996
Fiscal year end30-09
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

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If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.