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S-PLUS

Active
Non-profit associationfounded 196164 years activeSint-Jansstraat 32, 1000 Brussel, BelgiumKBO/BCE: BE 0409.572.206
Summary

S-PLUS has been active since 1961 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €414,757 and a net result of -€33,209. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 23% of 315 sector peers (NACE 94, fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).

Overview

Activity
Activities of membership organisations
NACE 94992
10 sites
Size
€1.1mturnover 2025
Staff
38.6 FTE
Equity
€414,757
Loss
-€33,209
Financial health
91 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
< 0.1%
Structure
Board
24 members
Auditor: BOGAERT & BOSMANS bedrijfsrevisoren - Réviseurs d'Entreprises burg BVBAAccounts 85 days early
Why 91- Loss of €33,209, the second in a row (FY 2025)+ Legal form Non-profit association+ Sector Activities of membership organisations (NACE 94)+ Liquidity: current ratio 1.74, cash €619,402Show the evidence

Checked score

Score 2025
91 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 25% of its sector peers (NACE 94, small)
Financial strength · tick = 2024
Average
Solvency 53-4
equity 27.9% of total assets
Liquidity 70-3
short-term debt 57.2% · cash 41.7%
Profitability 14+4
return on assets -2.2%
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

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

Sector median < 0.1% (509 companies)
Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● unchanged vs 11-2024 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025highest value 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026lowest value 07-2026: < 0.1%● unchanged vs 06-2026lowest value 08-2026: < 0.1%● unchanged vs 07-2026lowest value 09-2026: < 0.1%● unchanged vs 08-2026lowest value 10-2026: < 0.1%● unchanged vs 09-2026lowest value
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 1.74 against 1.88 in 2024; short-term debt: 57.2% and cash: 41.7% of total assets), but 72.1% of the assets are financed with debt.
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 94, small): better than 24% on solvency, 45% on liquidity, 16% on profitability and 16% on growth.

The bankruptcy probability was computed on 07-10-2026 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

Seven signals.
−lowers risk+raises risk○neutral
lowers risk · Legal form Non-profit association
KBO
lowers risk · Sector Activities of membership organisations (NACE 94)
KBO
lowers risk · Liquidity: current ratio 1.74, cash €619,402
NBB · annual accounts
raises risk · Loss of €33,209, the second in a row (FY 2025)
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€33,209
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 315 sector peers (2025).
NBB · sector comparison
Position among 315 sector peers
Solvency
better than 23%
← weakest strongest →
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 07-05-2026, 85 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
85 days early
2024
27 days early
2023
79 days early
2022
102 days early
2021
96 days early
2020
102 days early
2019
87 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 83 days before the deadline; the sector median for financial year 2024 is 29 days before the deadline, and 25% of the sector filed late.

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. Usually files around 7 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
08-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · abbreviated…
  2. Resignation: Marcel Logist (director)Appointment: Jaak De Pauw (director)
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Risk: 5 loss-making years in a rowloss fiscal year 2025 -€33,209 View
  • Positive: Result rose in 2025from -€100,426 to -€33,209 ▲ 66.9% View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Among the largest 7% on gross marginsector median €680,071 · 215 companies €3.3m View
  • Flemish supportawarded 2022 - 2025 €9.6m View
  • Board changedlatest change 22-01-2026 · 24 in office 1 joined · 1 left View
  • Active since 1961founded 09-12-1961 64 years View

By topic

Financials

Fiscal year
2025
Turnover
€1.1m
Loss
-€33,209
Solvency
27.9%
Turnover▲ 141%
Net result
20182025
Go to Financials

Board & ownership

Board
24 members
Auditor
BOGAERT & BOSMANS bedrijfsrevisoren…
  • Detiège LeonaChair
  • Geerts ChristelDirector
  • Herman De LoorDirector
  • Hans HEYNDELSDirector
  • Jean Marie LambrechtDirector

and 19 other directors

Go to Board & ownership

Timeline

Events
42
Since
2004
Next accounts
by 31-07-2027
  1. 19-05-2025Appointments: Hans Heyndels, Paul Put and 7…
  2. 20-12-2024Resignations: Lucien Maes, Lilith Roggemans and Lieven…
  3. 19-06-2024Appointments: BOGAERT & BOSMANS Bedrijfsrevisoren - Réviseurs…
Go to Timeline

Company details

Sites
10
Legal form
Non-profit association
Activity
Activities of membership organisationsNACE 94992
Founded
09-12-1961
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
1
Purpose
Dat de ruime doelgroep van plussers voldoende welzijn erı gezondheid verwerven of…
Go to Articles of association

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