HOTEL SPA RESORT

Active

Public limited companyfounded 1993active for 32 yearsPlace Royale 39, 4900 Spa, BelgiumKBO/BCE: BE 0451.873.510

From the official registers: KBO 31 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

HOTEL SPA RESORT has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.0m and a net result of €710,642. Equity is shrinking by about 5.7% per year across the filed financial years. Its solvency ranks better than 50% of 513 sector peers (NACE 55, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

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HOTEL SPA RESORTActiveChecked score 96/100

Risk analysis Report Compare

Official details

KBO

Status: Active since 24-12-1993 Normal situation
Legal form: Public limited company
Registered office: Place Royale 39, 4900 Spa
Activity: Hotels and similar accommodation NACE 55100and 1 other
Establishment unit: 2.066.110.985 4900 Spa, since 28-03-1994
Financial year end: 31 December
Peppol: Reachable since 14-11-2025

Company details

Who decides

Board

MAS INVESTDirector · since 22-11-2023 · permanent representative WOHRMANN Marco

Auditor: KPMG Réviseurs d'Entreprises SCRL civile

Shareholders

MAS INVESTconsolidatesannual accounts 2023

Board & ownership

How it is doing

96 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.1%

Annual accounts 2025

Gross margin: €4.8m; ▲ 25.7%
Turnover: ≈ €8.3m; estimated
Profit: €710,642; ▲ 168%
Equity: €5.0m; ▲ 16.4%
Total assets: €14.4m; ▲ 36.6%
Staff: 49.9 FTE; ▲ 4.6%

2025 accounts filed 25 days late

Filed on 25-08-2026at the National Bank

Financials

Why 96raises riskLiquidity: current ratio 1.81, cash €807,168lowers riskFounded in 1993Profit of €710,642 (financial year 2025)Size: 49.9 FTE, total assets €14.4mShow the evidence

Checked score

Score 2025

96 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 68% of its sector peers (NACE 55, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 59-6

equity 34.5% of total assets

Liquidity 56-1

short-term debt 12.1% · cash 5.6%

Profitability 70+16

return on assets 4.9%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (579 companies, NACE 55, small)

Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.3%▲ +0.1 percentage points vs 04-2025 06-2025: 0.3%● unchanged vs 05-2025 07-2025: 0.3%● unchanged vs 06-2025 08-2025: 0.6%▲ +0.3 percentage points vs 07-2025highest value 09-2025: 0.3%▼ -0.3 percentage points vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.2%▼ -0.1 percentage points vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.5%▲ +0.3 percentage points vs 07-2026 09-2026: 0.1%▼ -0.4 percentage points vs 08-2026lowest value 10-2026: 0.1%● unchanged vs 09-2026lowest value

Credit of up to €470,000 on 30-day terms is acceptable

Liquidity ample (current ratio 1.81, compared with 2.07 in 2024, above the usual 1.5; short-term debt: 12.1% and cash: 5.6% of total assets), but 65.5% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 55, small): better than 56% on solvency, 74% on liquidity, 66% on profitability and 77% on growth.

The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises risk

Founded in 1993

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Profit of €710,642 (financial year 2025)

NBB · annual accounts

Liquidity: current ratio 1.81, cash €807,168

NBB · annual accounts

Size: 49.9 FTE, total assets €14.4m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Growing equity

Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year €5.0m

2025 accounts filed 25 days late

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 10 filings

Deviation from the deadline

2025

25 days late

2024

on the day

2023

6 days late

2022

32 days early

2021

47 days early

2020

39 days early

2019

31 days early

← 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 17 days before the deadline; the sector median (NACE 55) for financial year 2024 is 1 day before the deadline, and 45% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 July (4 of the last 5 filed years within 32 days of that day).

Companies Code · seven months

Where today falls in the filing period

01-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

Key points

Positive: Result rose in 2025from €265,013 to €710,642 ▲ 168% View
Positive: Largest company by total assets in Spa, Accommodation and food service sectorin the Checked rankings No. 1 View

Documents

Key facts about HOTEL SPA RESORT

What is the company number of HOTEL SPA RESORT?: 0451.873.510. In Belgium the VAT number is the company number with BE in front: BE 0451.873.510.
Where is HOTEL SPA RESORT based?: The registered office is at Place Royale 39, 4900 Spa.Company details
What does HOTEL SPA RESORT do?: According to the KBO register, the main activity is hotels and similar accommodation (NACE 55100).
What is the legal form of HOTEL SPA RESORT?: Public limited company (NV).
When was HOTEL SPA RESORT founded?: On 24-12-1993.
Is HOTEL SPA RESORT still active?: Yes, HOTEL SPA RESORT is an active enterprise in the KBO register.
How many employees does HOTEL SPA RESORT have?: On average 49.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of HOTEL SPA RESORT?: ≈ €8.3m in financial year 2025. Estimated from the gross margin of €4.8m: probably between €5.6m and €14.0m, based on 1,587 comparable companies of the same size. A rough estimate. In financial year 2023 turnover was €5.8m.
Is HOTEL SPA RESORT profitable?: In financial year 2025, HOTEL SPA RESORT made a profit of €710,642.
Where can I find the annual accounts of HOTEL SPA RESORT?: HOTEL SPA RESORT filed 31 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of HOTEL SPA RESORT due?: By 31-07-2027, for financial year 2026.Timeline