Financials
- Financial year
- 2025
- Total assets
- €6.7m
- Loss
- -€3.7m
- Solvency
- 63.4%
LES BAINS DE SPA
ActiveSummary
The annual accounts of LES BAINS DE SPA for financial year 2025 show a net loss of 56% of total assets. The 2025 annual accounts show equity of €4.3m and a net result of -€3.7m. Its solvency ranks better than 80% of 877 sector peers (NACE 55, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Activity
Hotels and similar accommodation
NACE 55100
2nd largest company by total assets in Spa, Accommodation and food service sector1 site
Size
€6.7mtotal assets 2025
- Staff
- 24.1 FTE
- Equity
- €4.3m
- Loss
- -€3.7m
Turnover not published (abbreviated format)
Structure
- Largest shareholder
- FOREMOST IMMO · 25%
- Board
- 4 members
- VAN WASSENHOVE Johan Marcel MauriceManaging director
Auditor: BST Réviseurs d'Entreprises S.à.r.l.2025 accounts 22 days early
Why 56raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €3.7m (financial year 2025)Founded in 2024lowers riskLiquidity: current ratio 2.77, cash €5.8mEquity €4.3m (63.4% of total assets)Show the evidence
Checked score
Score 2025
56
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 60% of its sector peers (NACE 55, small)
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that counts is listed under Signals.
Financial strength
Average
Solvency
88
equity 63.4% of total assets
Liquidity
84
short-term debt 35.9% · cash 86.0%
Profitability
0
return on assets -55.8%
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
07-2025: 1.6%
08-2025: 1.6%● unchanged vs 07-2025
09-2025: 1.7%▲ +0.1 percentage points vs 08-2025
10-2025: 2.0%▲ +0.3 percentage points vs 09-2025
11-2025: 2.1%▲ +0.1 percentage points vs 10-2025
12-2025: 2.3%▲ +0.2 percentage points vs 11-2025
01-2026: 2.3%● unchanged vs 12-2025
02-2026: 2.6%▲ +0.3 percentage points vs 01-2026
03-2026: 2.6%● unchanged vs 02-2026
04-2026: 2.5%▼ -0.1 percentage points vs 03-2026
05-2026: 2.7%▲ +0.2 percentage points vs 04-2026
06-2026: 2.8%▲ +0.1 percentage points vs 05-2026
07-2026: 2.9%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 0.4%▼ -2.5 percentage points vs 07-2026lowest value
09-2026: 0.4%● unchanged vs 08-2026lowest value
10-2026: 0.4%● unchanged vs 09-2026lowest value
Credit of up to €230,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.77, above the usual 1.5; short-term debt: 35.9% and cash: 86% of total assets), and 36.6% 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 80% on solvency, 96% on liquidity and 3% on profitability.
The bankruptcy probability was computed on 23-10-2026 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
Five signals.
lowers riskraises riskneutral
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 09-07-2026, 22 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
22 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Appointment: BST Réviseurs d'Entreprises S.à.r.l. (statutory…Power of attorney
- Resignation: Jan van Bergeijk (director)Appointments: Bart De Laere (director)…
Key points
By topic
Board & ownership
- Board
- 4 members
- Largest shareholder
- FOREMOST IMMO · 25%
- Known shareholders
- 100%
- Auditor
- BST Réviseurs d'Entreprises S.à.r.l.
- VAN BERGEIJK Jan AndriesDirector
- VAN WASSENHOVE Johan Marcel MauriceManaging director
- Bart De LaereDirector
- CONSOLIDDirector
Network & group
- Connected companies
- 11
Timeline
- Events
- 4
- Since
- 2024
- 28-06-2024Incorporation
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Hotels and similar accommodationNACE 55100
- Founded
- 26-06-2024
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 25
- Purpose
- “L’exploitation de locaux à usage d’hôtel et/ou de restaurant,toutes opérations se…” (deed in French)
Key facts about LES BAINS DE SPA
- What is the company number of LES BAINS DE SPA?
- 1010.782.758. In Belgium the VAT number is the company number with BE in front: BE 1010.782.758.
- Where is LES BAINS DE SPA based?
- The registered office is at Place Royale 2, 4900 Spa.Company details
- What does LES BAINS DE SPA do?
- According to the KBO register, the main activity is hotels and similar accommodation (NACE 55100).
- What is the legal form of LES BAINS DE SPA?
- Private limited company (BV).
- When was LES BAINS DE SPA founded?
- On 26-06-2024.
- Is LES BAINS DE SPA still active?
- Yes, LES BAINS DE SPA is an active enterprise in the KBO register.
- How many employees does LES BAINS DE SPA have?
- On average 24.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of LES BAINS DE SPA?
- Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
- Is LES BAINS DE SPA profitable?
- In financial year 2025, LES BAINS DE SPA made a loss of €3.7m.
- Where can I find the annual accounts of LES BAINS DE SPA?
- LES BAINS DE SPA filed 1 annual account with the National Bank of Belgium, for financial year 2025.
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