ESPADON
ActiveSummary
ESPADON has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €254,129 and a net result of €35,015. Equity is growing by ~17.1% per year across the filed fiscal years. Its solvency ranks better than 54% of 11613 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability79=
Solvency84▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity short (current ratio 0.14 against 0.12 in 2023; short-term debt: 41.1% and cash: 1.3% of total assets), and 41.1% of the assets are financed with debt.
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Signals
Three 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
not confirmed
2024
29 d late
2023
69 d early
2022
12 d early
2021
34 d early
2020
24 d early
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 14 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€254,129▲ 16.0%
2023 · €219,114
Total assets
€431,388▲ 5.1%
2023 · €410,484
Net result
€35,015▲ 8.0%
2023 · €32,431
Working capital
-€152,574▲ 9.3%
2023 · -€168,195
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
Line20202021202220232024
Operating result€48,977▲ 5.4%€38,408▼ 21.6%€25,738▼ 33.0%€50,686▲ 96.9%€54,095▲ 6.7%
Net result€31,237▼ 14.5%€23,836▼ 23.7%€15,279▼ 35.9%€32,431▲ 112%€35,015▲ 8.0%
Equity€147,569▲ 26.9%€171,404▲ 16.2%€186,683▲ 8.9%€219,114▲ 17.4%€254,129▲ 16.0%
Total assets€188,588▲ 36.1%€200,047▲ 6.1%€391,217▲ 95.6%€410,484▲ 4.9%€431,388▲ 5.1%
Debt€41,020▲ 84.4%€28,643▼ 30.2%€204,534▲ 614%€191,369▼ 6.4%€177,259▼ 7.4%
Working capital€34,228▲ 0.8%€26,907▼ 21.4%-€174,680-€168,195▲ 3.7%-€152,574▲ 9.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2022 Total assets +96% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 7% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €431,388
Fixed assets
€406,767 ▲ 5.0%
Current assets
€24,621 ▲ 7.0%
Equity and liabilities €431,388
Equity
€254,129 ▲ 16.0%
Debt
€177,259 ▼ 7.4%
Debt's share of the balance-sheet total falls from 46.6% to 41.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€61,738▼
2023 · €62,119
Cash flow
€42,659▼
2023 · €43,865
Current ratio
0.14▲
2023 · 0.12
Debt to equity
0.70▼
2023 · 0.87
ROE
13.8%▼
2023 · 14.8%
ROA
8.1%▲
2023 · 7.9%
Interest coverage
257.21▲
2023 · 170.22
Debt ≤ 1 year
€177,196▼
2023 · €191,210
Income taxes
€18,839▲
2023 · €17,890
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,982 | €12,074 | €12,468 | €11,434 | €7,644 | ▼ 33.1% |
| Other operating charges640/8 | - | €1,776 | €2,354 | €1,825 | €1,600 | ▼ 12.4% |
| Non-recurring operating charges66A | - | €100 | €594 | €120 | €98 | ▼ 18.7% |
| Gross operating margin9900 | €63,073 | €52,359 | €41,154 | €64,065 | €63,436 | ▼ 1.0% |
| Operating profit (loss)9901 | €48,977 | €38,408 | €25,738 | €50,686 | €54,095 | ▲ 6.7% |
| Financial income75/76B | - | €0 | - | - | - | - |
| Recurring financial income75 | - | €0 | - | - | - | - |
| Non-recurring financial income76B | - | €0 | - | - | - | - |
| Financial charges65/66B | - | €641 | €490 | €365 | €240 | ▼ 34.2% |
| Recurring financial charges65 | €632 | €641 | €490 | €365 | €240 | ▼ 34.2% |
| Profit (loss) for the period before taxes9903 | €48,345 | €37,767 | €25,248 | €50,321 | €53,855 | ▲ 7.0% |
| Income taxes67/77 | €17,108 | €13,932 | €9,969 | €17,890 | €18,839 | ▲ 5.3% |
| Profit (loss) for the period9904 | €31,237 | €23,836 | €15,279 | €32,431 | €35,015 | ▲ 8.0% |
| Profit (loss) for the period to be appropriated9905 | €31,237 | €23,836 | €15,279 | €32,431 | €35,015 | ▲ 8.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €188,588 | €200,047 | €391,217 | €410,484 | €431,388 | ▲ 5.1% |
| Fixed assets21/28 | €133,864 | €157,992 | €367,969 | €387,469 | €406,767 | ▲ 5.0% |
| Tangible fixed assets22/27 | €45,646 | €30,815 | €18,719 | €9,019 | €1,317 | ▼ 85.4% |
| Plant, machinery and equipment23 | - | €1,196 | €379 | - | - | - |
| Furniture and vehicles24 | - | €25,636 | €16,377 | €9,019 | €1,317 | ▼ 85.4% |
| Other tangible fixed assets26 | - | €3,983 | €1,963 | - | - | - |
| Financial fixed assets28 | €88,218 | €127,177 | €349,250 | €378,450 | €405,450 | ▲ 7.1% |
| Current assets29/58 | €54,724 | €42,055 | €23,249 | €23,015 | €24,621 | ▲ 7.0% |
| Amounts receivable within one year40/41 | €35,365 | €35,228 | €13,830 | €19,321 | €16,002 | ▼ 17.2% |
| Trade receivables40 | - | €15,346 | €7,354 | €18,324 | €15,199 | ▼ 17.1% |
| Other amounts receivable41 | - | €19,882 | €6,477 | €997 | €803 | ▼ 19.4% |
| Cash at bank and in hand54/58 | €15,642 | €2,681 | €5,685 | €1,049 | €5,731 | ▲ 447% |
| Deferred charges and accrued income490/1 | - | €4,146 | €3,733 | €2,645 | €2,888 | ▲ 9.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €188,588 | €200,047 | €391,217 | €410,484 | €431,388 | ▲ 5.1% |
| Equity10/15 | €147,569 | €171,404 | €186,683 | €219,114 | €254,129 | ▲ 16.0% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €135,169 | €159,004 | €174,283 | €206,714 | €241,729 | ▲ 16.9% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Other1319 | - | - | - | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €157,144 | €172,423 | €204,854 | €239,869 | ▲ 17.1% |
| Amounts payable17/49 | €41,020 | €28,643 | €204,534 | €191,369 | €177,259 | ▼ 7.4% |
| Amounts payable after more than one year17 | €20,352 | €13,494 | €6,512 | - | - | - |
| Financial debts170/4 | - | €13,494 | €6,512 | - | - | - |
| Amounts payable within one year42/48 | €20,496 | €15,149 | €197,929 | €191,210 | €177,196 | ▼ 7.3% |
| Current portion of amounts payable after more than one year42 | - | €6,858 | €6,983 | €6,512 | - | - |
| Trade debts44 | €7,843 | €5,367 | €2,589 | €5,617 | €6,833 | ▲ 21.6% |
| Suppliers440/4 | - | €5,367 | €2,589 | €5,617 | €6,833 | ▲ 21.6% |
| Taxes, remuneration and social security45 | - | €2,924 | €10,774 | €20,263 | €23,129 | ▲ 14.1% |
| Taxes450/3 | - | €2,924 | €2,174 | €5,063 | €5,729 | ▲ 13.1% |
| Remuneration and social security454/9 | - | - | €8,600 | €15,200 | €17,400 | ▲ 14.5% |
| Other amounts payable47/48 | - | - | €177,583 | €158,817 | €147,233 | ▼ 7.3% |
| Accrued charges and deferred income492/3 | - | - | €93 | €160 | €63 | ▼ 60.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,237 | €23,836 | €15,279 | €32,431 | €35,015 | ▲ 8.0% |
| + Depreciation and write-downs630 | €11,982 | €12,074 | €12,468 | €11,434 | €7,644 | ▼ 33.1% |
| Operating cash flow (approximation) | €43,218 | €35,910 | €27,747 | €43,865 | €42,659 | ▼ 2.7% |
| Investment in fixed assets (approximation) | - | -€36,202 | -€222,445 | -€30,934 | -€26,942 | ▲ 12.9% |
| Change in cash | - | -€12,961 | €3,004 | -€4,637 | €4,683 | ▲ 201% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200,000Eq €219,114 ▲17.4%
5 profitable years in a row build equity to €219,114.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150,000Eq €171,404 ▲16.2%
3 profitable years in a row build equity to €171,404.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-12
Financial
Back to profitnet €36,520
Net result €36,520 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 3.24
Current ratio from 0.91 to 3.24; short-term debt falls from €27,021 to €15,171.
31-12
Financial
Equity above €100,000Eq €116,332 ▲45.8%
Equity rises from €79,812 to €116,332.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
Show earlier events
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Zulte · 1 establishment unit since 2008
Ground area
713 m²
Building footprint
100 m²
Volume, LiDAR
485 m³
Parcel 44081A0253/00Y002, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
XS Déco.
since 20082.168.681.458
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081A0253/00Y002 | Flanders | 713 m² | 1 · 100 m² | 7.0 m · 2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
60%
According to the 2024 annual accounts of ESPADON and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 3,924 companies in sector 71112 we hold annual accounts for 1,294. 907 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
Founded06-02-2008
Fiscal year end31-12
Activities, NACEBEL 2025
71112Activities of interior architects
46190Agents in non-specialised wholesale trade
47559Retail sale of other household articles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0895545570
Also
9925:BE0895545570
Registered
18-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.