Summary
ESPACE has been active since 1985 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34,259. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 663 sector peers (NACE 88, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
≈ €800,000
Estimated: probably between €760,000 and €920,000
EBIT margin
Not included in this filing
Net result
-€5,960
2023 · €66,775
Working capital
€83,687▲ 22.5%
2024 · €68,312
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €29 in 2025 against €6,367 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€29
2025
Net result-€5,960
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€367,440
2025
Equity€34,259
2025
Debt€333,181
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€83,687
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-1.6%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency9.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.31
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)7.7
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 88, Social work activities without accommodation: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. 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 financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€5,627--€1,200▲ 78.7%-€1,389▼ 15.7%€3,643-€10,860€66,700-€6,367-€29▲ 99.5%
Net result-€5,646--€1,242▲ 78.0%-€1,508within the sector's middle half▼ 21.4%€3,478within the sector's middle half-€11,182within the sector's middle half€66,775above the sector's middle half-€5,960within the sector's middle half
Equity-€16,102--€17,344▼ 7.7%-€18,852below the sector's middle half▼ 8.7%-€15,374below the sector's middle half▲ 18.4%-€26,556below the sector's middle half▼ 72.7%€40,219below the sector's middle half€34,259below the sector's middle half▼ 14.8%€34,259below the sector's middle half=
Total assets€132,289-€138,513▲ 4.7%€154,414below the sector's middle half▲ 11.5%€202,765below the sector's middle half▲ 31.3%€215,108below the sector's middle half▲ 6.1%€326,040below the sector's middle half▲ 51.6%€363,272below the sector's middle half▲ 11.4%€367,440below the sector's middle half▲ 1.1%
Debt€148,391-€155,857▲ 5.0%€173,266▲ 11.2%€218,139▲ 25.9%€241,664▲ 10.8%€285,821▲ 18.3%€329,013▲ 15.1%€333,181▲ 1.3%
Working capital€45,427-€49,109▲ 8.1%-€19,242below the sector's middle half€31,231below the sector's middle half€79,940below the sector's middle half▲ 156%€37,168below the sector's middle half▼ 53.5%€68,312within the sector's middle half▲ 83.8%€83,687below the sector's middle half▲ 22.5%
Solvency-12.2%--12.5%▼ 0.3pp-12.2%below the sector's middle half▲ 0.3pp-7.6%below the sector's middle half▲ 4.6pp-12.3%below the sector's middle half▼ 4.8pp12.3%below the sector's middle half▲ 24.7pp9.4%below the sector's middle half▼ 2.9pp9.3%below the sector's middle half▼ 0.1pp
Current ratio1.53-1.55▲ 0.020.89below the sector's middle half▼ 0.671.19below the sector's middle half▲ 0.301.61within the sector's middle half▲ 0.421.13below the sector's middle half▼ 0.481.23below the sector's middle half▲ 0.101.31below the sector's middle half▲ 0.07
Return on assets (ROA)-4.3%--0.9%▲ 3.4pp-1.0%below the sector's middle half▼ 0.1pp1.7%within the sector's middle half▲ 2.7pp-5.2%below the sector's middle half▼ 6.9pp20.5%above the sector's middle half▲ 25.7pp-1.6%below the sector's middle half▼ 22.1pp
Staff (FTE)7.3-7.7▲ 5.5%8.2below the sector's middle half▲ 6.5%8.9below the sector's middle half▲ 8.5%7.5below the sector's middle half▼ 15.7%8.2below the sector's middle half▲ 9.3%8.4below the sector's middle half▲ 2.4%7.7below the sector's middle half▼ 8.3%
above
within
below
the middle half of NACE 88, Social work activities without accommodation: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €367,440
Fixed assets
€10,003 ▲ 195%
Current assets
€357,437 ▼ 0.7%
Equity and liabilities €367,440
Equity
€34,259 =
Debt
€333,181 ▲ 1.3%
Debt's share of the balance-sheet total rises from 90.6% to 90.7%. Debt is higher.
Key figures and ratios
EBITDA
€649
Debt to equity
9.73▲
2024 · 9.60
Interest coverage
1.10
Debt ≤ 1 year
€273,750▼
2024 · €291,572
Staff costs
€684,103▲
2024 · €655,533
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Membership fees, donations, legacies and grants73 | - | - | - | - | - | - | €708,404 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €60,355 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €559,952 | €560,360 | €577,868 | €655,533 | €684,103 | ▲ 4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €961 | €526 | €526 | €434 | €324 | €973 | - | €678 | - |
| Other operating charges640/8 | - | - | - | €1,181 | €1,149 | €196 | €80 | €80 | = |
| Gross operating margin9900 | €485,371 | €530,944 | €482,855 | €565,211 | €550,974 | €645,737 | €649,247 | €684,831 | ▲ 5.5% |
| Operating profit (loss)9901 | -€5,627 | -€1,200 | -€1,389 | €3,643 | -€10,860 | €66,700 | -€6,367 | -€29 | ▲ 99.5% |
| Financial income75/76B | - | - | - | €1 | - | €337 | €757 | €618 | ▼ 18.3% |
| Recurring financial income75 | €57 | €81 | €1 | €1 | - | €337 | €757 | €618 | ▼ 18.3% |
| Financial charges65/66B | - | - | - | €167 | €321 | €262 | €350 | €589 | ▲ 68.4% |
| Recurring financial charges65 | €60 | €122 | €120 | €167 | €321 | €262 | €350 | €589 | ▲ 68.4% |
| Profit (loss) for the period before taxes9903 | -€5,631 | -€1,242 | -€1,508 | €3,478 | -€11,182 | €66,775 | -€5,960 | - | - |
| Profit (loss) for the period9904 | -€5,646 | -€1,242 | -€1,508 | €3,478 | -€11,182 | €66,775 | -€5,960 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€5,646 | -€1,242 | -€1,508 | €3,478 | -€11,182 | €66,775 | -€5,960 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €132,289 | €138,513 | €154,414 | €202,765 | €215,108 | €326,040 | €363,272 | €367,440 | ▲ 1.1% |
| Fixed assets21/28 | €1,162 | €636 | €3,462 | €4,650 | €4,325 | €3,363 | €3,389 | €10,003 | ▲ 195% |
| Tangible fixed assets22/27 | €1,162 | €636 | €110 | €1,298 | €973 | - | - | €6,103 | - |
| Furniture and vehicles24 | - | - | - | €1,298 | €973 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €6,103 | - |
| Financial fixed assets28 | - | - | €3,352 | €3,352 | €3,352 | €3,363 | €3,389 | €3,900 | ▲ 15.1% |
| Current assets29/58 | €131,128 | €137,877 | €150,952 | €198,115 | €210,783 | €322,676 | €359,883 | €357,437 | ▼ 0.7% |
| Amounts receivable within one year40/41 | €24,195 | €14,437 | €12,608 | €3,893 | €18,159 | €71,560 | €76,513 | €79,175 | ▲ 3.5% |
| Trade receivables40 | - | - | - | - | €573 | - | - | €65 | - |
| Other amounts receivable41 | - | - | - | €3,893 | €17,587 | €71,560 | €76,513 | €79,110 | ▲ 3.4% |
| Current investments50/53 | €2,085 | €2,083 | €2,084 | €2,085 | €2,082 | €2,083 | €2,083 | €2,083 | = |
| Cash at bank and in hand54/58 | €99,900 | €116,976 | €131,774 | €187,455 | €185,123 | €243,232 | €276,088 | €275,946 | ▼ 0.1% |
| Deferred charges and accrued income490/1 | - | - | - | €4,682 | €5,418 | €5,802 | €5,200 | €234 | ▼ 95.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €132,289 | €138,513 | €154,414 | €202,765 | €215,108 | €326,040 | €363,272 | €367,440 | ▲ 1.1% |
| Equity10/15 | -€16,102 | -€17,344 | -€18,852 | -€15,374 | -€26,556 | €40,219 | €34,259 | €34,259 | = |
| Profit (loss) carried forward14 | -€16,102 | -€17,344 | -€18,852 | -€15,374 | -€26,556 | €40,219 | €34,259 | €34,259 | = |
| Amounts payable17/49 | €148,391 | €155,857 | €173,266 | €218,139 | €241,664 | €285,821 | €329,013 | €333,181 | ▲ 1.3% |
| Amounts payable within one year42/48 | €85,701 | €88,769 | €170,194 | €166,883 | €130,842 | €285,509 | €291,572 | €273,750 | ▼ 6.1% |
| Trade debts44 | €926 | €746 | €1,407 | €2,437 | €2,588 | €90 | €319 | €92 | ▼ 71.1% |
| Suppliers440/4 | - | - | - | €2,437 | €2,588 | €90 | €319 | €92 | ▼ 71.1% |
| Taxes, remuneration and social security45 | - | - | - | €84,486 | €103,132 | €97,349 | €103,880 | €102,154 | ▼ 1.7% |
| Taxes450/3 | - | - | - | €10,621 | €18,657 | €15,066 | €14,056 | €6,423 | ▼ 54.3% |
| Remuneration and social security454/9 | - | - | - | €73,864 | €84,476 | €82,283 | €89,824 | €95,731 | ▲ 6.6% |
| Accrued charges and deferred income492/3 | - | - | - | €51,255 | €110,821 | €312 | €37,441 | €59,430 | ▲ 58.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,646 | -€1,242 | -€1,508 | €3,478 | -€11,182 | €66,775 | -€5,960 | - | - |
| + Depreciation and write-downs630 | €961 | €526 | €526 | €434 | €324 | €973 | - | €678 | - |
| Operating cash flow (approximation) | -€4,685 | -€716 | -€982 | €3,912 | -€10,857 | €67,748 | -€5,960 | €678 | - |
| Investment in fixed assets (approximation) | - | €0 | -€3,352 | -€1,622 | €0 | -€11 | -€25 | -€7,292 | ▼ 28,861% |
| Change in cash | - | €17,076 | €14,798 | €55,682 | -€2,333 | €58,109 | €32,856 | -€143 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 02-07-2026 | 2026-00241092 |
| 31-12-2024 | full format | 30-07-2025 | 2025-00328998 |
| 31-12-2023 | full format | 26-06-2024 | 2024-00164448 |
| 31-12-2022 | full format | 30-06-2023 | 2023-00211285 |
| 31-12-2021 | full format | 23-06-2022 | 2022-20085913 |
| 31-12-2020 | full format | 30-06-2021 | 2021-28400495 |
| 31-12-2019 | full format | 01-07-2020 | 2020-24100441 |
| 31-12-2018 | full format | 20-06-2019 | 2019-20700580 |
| 31-12-2017 | full format | 22-06-2018 | 2018-22000354 |
| 31-12-2016 | full format | 26-06-2017 | 2017-21700041 |
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Of the 2,184 active companies whose main activity is other social work without accommodation (NACE 88999), figures are known for 817. 420 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Wallonia-Brussels Federation
2021 to 2025 · 18 entries · €1.8m in total| Year | Entries | Paid |
|---|---|---|
| 2025 | 14 | €638,907 |
| 2023 | 1 | €618,362 |
| 2022 | 1 | €516,766 |
| 2021 | 2 | €47,535 |
Budget allocations
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.