INSPACE
ActiveSummary
INSPACE has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €97k and a net result of €35k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 61% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+91
Solvency82▲+5
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity ample (current ratio 2.32 against 2.07 in 2024; short-term debt: 43.2% and cash: 58% of total assets), and 43.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
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
56.8%
Return on assets
20.6%
Age of the figures
9 mo
lowers risk · 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 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €97k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
11 d late
2023
29 d early
2022
19 d early
2021
17 d early
2020
17 d early
2019
26 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€97k▲ 57.0%
2024 · €62k
2018: €88k
2019: €88k▲ +0.2% vs 2018
2020: €99k▲ +12.4% vs 2019
2021: €102k▲ +3.9% vs 2020highest in 8 years
2022: €70k▼ -31.4% vs 2021
2023: €76k▲ +8.1% vs 2022
2024: €62k▼ -18.8% vs 2023lowest in 8 years
2025: €97k▲ +57.0% vs 2024
2018 → 2025
Total assets
€171k▲ 43.2%
2024 · €119k
2018: €224khighest in 8 years
2019: €223k▼ -0.5% vs 2018
2020: €181k▼ -18.7% vs 2019
2021: €150k▼ -17.3% vs 2020
2022: €108k▼ -27.8% vs 2021
2023: €104k▼ -3.8% vs 2022lowest in 8 years
2024: €119k▲ +14.6% vs 2023
2025: €171k▲ +43.2% vs 2024
2018 → 2025
Net result
€35k
2024 · €-14k
2018: €10k
2019: €195▼ -98.1% vs 2018
2020: €11k▲ +5461% vs 2019
2021: €4k▼ -64.2% vs 2020
2022: €-32k▼ -927% vs 2021lowest in 8 years
2023: €6k▲ +118% vs 2022
2024: €-14k▼ -350% vs 2023
2025: €35k▲ +346% vs 2024highest in 8 years
2018 → 2025
Working capital
€97k▲ 57.5%
2024 · €62k
2018: €77k
2019: €78k▲ +0.3% vs 2018
2020: €92k▲ +19.2% vs 2019
2021: €93k▲ +0.5% vs 2020
2022: €65k▼ -30.6% vs 2021
2023: €74k▲ +14.9% vs 2022
2024: €62k▼ -16.9% vs 2023lowest in 8 years
2025: €97k▲ +57.5% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€102k-€70k▼ 31.4%€76k▲ 8.1%€62k▼ 18.8%€97k▲ 57.0%
2021: €102khighest in 5 years
2022: €70k▼ -31.4% vs 2021
2023: €76k▲ +8.1% vs 2022
2024: €62k▼ -18.8% vs 2023lowest in 5 years
2025: €97k▲ +57.0% vs 2024
Operating result€8k-€-38k€7k€-10k€47k
2021: €8k
2022: €-38k▼ -564% vs 2021lowest in 5 years
2023: €7k▲ +119% vs 2022
2024: €-10k▼ -231% vs 2023
2025: €47k▲ +593% vs 2024highest in 5 years
Net result€4k-€-32k€6k€-14k€35k
2021: €4k
2022: €-32k▼ -927% vs 2021lowest in 5 years
2023: €6k▲ +118% vs 2022
2024: €-14k▼ -350% vs 2023
2025: €35k▲ +346% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €47k after a loss of €10k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €171k
Fixed assets
€61 ▼ 72.3%
Current assets
€171k ▲ 43.4%
Equity and liabilities €171k
Equity
€97k ▲ 57.0%
Debt
€74k ▲ 28.3%
Debt's share of the balance-sheet total falls from 48.2% to 43.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€47k▲
2024 · €-8k
Cash flow
€35k▲
2024 · €-13k
Current ratio
2.32▲
2024 · 2.07
Quick ratio
2.27▲
2024 · 2.05
Debt to equity
0.76▼
2024 · 0.93
ROE
36.3%▲
2024 · -23.1%
ROA
20.6%▲
2024 · -12.0%
Interest coverage
6.50▲
2024 · -1.67
Debt ≤ 1 year
€74k▲
2024 · €57k
Income taxes
€5k▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€119k€171k▲
Fixed assets21/28€221€61▼
Tangible fixed assets22/27€221€61▼
Plant, machinery and equipment23€20-
Furniture and vehicles24€201€61▼
Other tangible fixed assets26€0-
Current assets29/58€119k€171k▲
Stocks and contracts in progress3€1k€3k▲
Stocks30/36€1k€3k▲
Amounts receivable within one year40/41€84k€67k▼
Trade receivables40€73k€67k▼
Other amounts receivable41€12k-
Cash at bank and in hand54/58€32k€99k▲
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€119k€171k▲
Equity10/15€62k€97k▲
Contributions10/11€19k€19k=
Outside capital11-€19k
Other1109/19-€19k
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€41k€77k▲
Amounts payable17/49€57k€74k▲
Amounts payable within one year42/48€57k€74k▲
Current portion of amounts payable after more than one year42€413-
Trade debts44€47k€46k▼
Suppliers440/4€47k€46k▼
Taxes, remuneration and social security45€3k€28k▲
Taxes450/3€3k€28k▲
Other amounts payable47/48€7k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€160▼
Other operating charges640/8€20k€9k▼
Gross operating margin9900€12k€56k▲
Operating profit (loss)9901€-10k€47k▲
Financial income75/76B-€500
Recurring financial income75-€500
Non-recurring financial income76B-€500
Financial charges65/66B€5k€7k▲
Recurring financial charges65€5k€7k▲
Profit (loss) for the period before taxes9903€-14k€41k▲
Income taxes67/77€0€5k▲
Profit (loss) for the period9904€-14k€35k▲
Profit (loss) for the period to be appropriated9905€-14k€35k▲
Appropriation of the result
Profit (loss) to be appropriated9906€41k€77k▲
Profit (loss) brought forward from the previous period14P€56k€41k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €37k | €19k | €18 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €6k | €4k | €2k | €160 | ▼ 90.8% |
| Other operating charges640/8 | €11k | €11k | €0 | €20k | €9k | ▼ 54.2% |
| Gross operating margin9900 | €63k | €-2k | €11k | €12k | €56k | ▲ 380% |
| Operating profit (loss)9901 | €8k | €-38k | €7k | €-10k | €47k | ▲ 593% |
| Financial income75/76B | - | €8k | - | - | €500 | - |
| Recurring financial income75 | - | €8k | - | - | €500 | - |
| Non-recurring financial income76B | - | - | - | - | €500 | - |
| Financial charges65/66B | €2k | €2k | €1k | €5k | €7k | ▲ 55.6% |
| Recurring financial charges65 | €2k | €2k | €1k | €5k | €7k | ▲ 55.6% |
| Profit (loss) for the period before taxes9903 | €6k | €-32k | €6k | €-14k | €41k | ▲ 383% |
| Income taxes67/77 | €3k | €343 | €470 | €0 | €5k | - |
| Profit (loss) for the period9904 | €4k | €-32k | €6k | €-14k | €35k | ▲ 346% |
| Profit (loss) for the period to be appropriated9905 | €4k | €-32k | €6k | €-14k | €35k | ▲ 346% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €150k | €108k | €104k | €119k | €171k | ▲ 43.2% |
| Fixed assets21/28 | €12k | €6k | €2k | €221 | €61 | ▼ 72.3% |
| Tangible fixed assets22/27 | €12k | €6k | €2k | €221 | €61 | ▼ 72.3% |
| Plant, machinery and equipment23 | €1k | €295 | €158 | €20 | - | - |
| Furniture and vehicles24 | €10k | €6k | €2k | €201 | €61 | ▼ 69.5% |
| Other tangible fixed assets26 | - | - | €0 | €0 | - | - |
| Current assets29/58 | €138k | €102k | €102k | €119k | €171k | ▲ 43.4% |
| Stocks and contracts in progress3 | €2k | €2k | €4k | €1k | €3k | ▲ 116% |
| Stocks30/36 | €2k | €2k | €4k | €1k | €3k | ▲ 116% |
| Amounts receivable within one year40/41 | €130k | €98k | €88k | €84k | €67k | ▼ 19.9% |
| Trade receivables40 | €122k | €94k | €74k | €73k | €67k | ▼ 7.2% |
| Other amounts receivable41 | €8k | €4k | €14k | €12k | - | - |
| Cash at bank and in hand54/58 | €6k | €2k | €8k | €32k | €99k | ▲ 211% |
| Deferred charges and accrued income490/1 | - | - | €2k | €2k | €1k | ▼ 26.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €150k | €108k | €104k | €119k | €171k | ▲ 43.2% |
| Equity10/15 | €102k | €70k | €76k | €62k | €97k | ▲ 57.0% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | - | - | - | - | €19k | - |
| Other1109/19 | - | - | - | - | €19k | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €82k | €50k | €56k | €41k | €77k | ▲ 85.2% |
| Amounts payable17/49 | €47k | €38k | €28k | €57k | €74k | ▲ 28.3% |
| Amounts payable within one year42/48 | €45k | €38k | €28k | €57k | €74k | ▲ 28.3% |
| Current portion of amounts payable after more than one year42 | €7k | €2k | - | €413 | - | - |
| Trade debts44 | €26k | €21k | €21k | €47k | €46k | ▼ 1.6% |
| Suppliers440/4 | €26k | €21k | €21k | €47k | €46k | ▼ 1.6% |
| Taxes, remuneration and social security45 | €4k | €7k | - | €3k | €28k | ▲ 826% |
| Taxes450/3 | - | €7k | - | €3k | €28k | ▲ 826% |
| Remuneration and social security454/9 | €4k | - | - | - | - | - |
| Other amounts payable47/48 | €8k | €7k | €7k | €7k | - | - |
| Accrued charges and deferred income492/3 | €2k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €-32k | €6k | €-14k | €35k | ▲ 346% |
| + Depreciation and write-downs630 | €8k | €6k | €4k | €2k | €160 | ▼ 90.8% |
| Operating cash flow (approximation) | €12k | €-26k | €10k | €-13k | €35k | ▲ 382% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-4k | €6k | €23k | €67k | ▲ 186% |
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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100kEq €102k ▲3.9%
4 profitable years in a row build equity to €102k.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Oudergem · 1 establishment unit since 2009
Ground area
303 m²
Building footprint
301 m²
Volume, LiDAR
2,818 m³
Parcel 21332B0060/00R018, Brussels · tallest building 14.5 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Les Sarments
since 20092.183.353.402
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0060/00R018 | Brussels | 303 m² | 1 · 301 m² | 14.5 m · 3 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.
Similar companies · same sector, comparable size
BEKE STEIGERS
BE 0831.032.949
Merelbeke · Eq €96,940
ERCE
BE 0777.659.391
Grimbergen · Eq €96,938
ENTREPRISE GORET
BE 0873.130.652
Soignies · Eq €97,054
TECHNICONSTRUCTION
BE 0867.093.787
Braine-le-Comte · Eq €96,880
SEB Construct
BE 0675.947.864
Braine-le-Comte · Eq €97,070
Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 6,244 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
Founded01-12-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
64210Activities of holding companies
70200Business and other management consultancy
81100Combined facilities support activities
Contact
E-mail
o-dubois@inspace.beOudergem
Scores and ratios are computed by Checked and are not a credit decision.