S2S
ActiveSummary
S2S has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60,595 and a net result of €11,538. Equity has been shrinking by about 17% per year since 2018. Its solvency ranks better than 25% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-10-2015 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.247.923.332 1210 Sint-Joost-ten-Node, since 09-12-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 24-03-2025
Board and ownership
- KASPAR SERVICES BVDirector
- KASPAR SERVICES100%· score 902025 annual accounts of KASPAR SERVICES
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €12,413
- Turnover
- ≈ €50,000
- estimated
- Profit
- €11,538
- Equity
- €60,595
- ▲ 23.5%
- Total assets
- €262,829
- ▲ 4.5%
Score breakdownraises riskLiquidity: current ratio 1.30, cash €13,800lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €262,829Legal form: public limited companyShow the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 70, micro). It does better than 26% of them on solvency, 6% on liquidity, 23% on profitability and 69% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 43 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 10 filings
Every figure per financial year
The operating result for 2025 is a profit of €12,014, after a loss of €2,088 in 2024.
- 2023 Equity -80% on 2022. Capital reduction of €200,000 (Official Gazette 29-11-2023).
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,490 | €8,867 | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €348 | €473 | €437 | €434 | €400 | ▼ 8.0% |
| Gross operating margin9900 | €37,315 | €38,193 | €16,045 | €29,618 | €11,264 | -€10,023 | -€1,654 | €12,413 | - |
| Operating profit (loss)9901 | €6,454 | €28,979 | €12,450 | €29,270 | €10,791 | -€10,461 | -€2,088 | €12,014 | - |
| Financial income75/76B | - | - | - | €0 | €1 | - | - | - | - |
| Recurring financial income75 | €21 | €26 | €9 | €0 | €1 | - | - | - | - |
| Financial charges65/66B | - | - | - | €141 | €123 | €478 | €481 | €475 | ▼ 1.1% |
| Recurring financial charges65 | €659 | €286 | €74 | €141 | €123 | €478 | €481 | €475 | ▼ 1.1% |
| Profit (loss) for the period before taxes9903 | €5,816 | €28,720 | €12,386 | €29,129 | €10,669 | -€10,939 | -€2,569 | €11,538 | - |
| Income taxes67/77 | -€13 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €5,829 | €28,720 | €12,386 | €29,129 | €10,669 | -€10,939 | -€2,569 | €11,538 | - |
| Profit (loss) for the period to be appropriated9905 | €5,829 | €28,720 | €12,386 | €29,129 | €10,669 | -€10,939 | -€2,569 | €11,538 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €206,351 | €211,169 | €271,096 | €266,471 | €268,183 | €252,168 | €251,531 | €262,829 | ▲ 4.5% |
| Fixed assets21/28 | €8,867 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €8,867 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €197,484 | €211,169 | €271,096 | €266,471 | €268,183 | €252,168 | €251,531 | €262,829 | ▲ 4.5% |
| Amounts receivable within one year40/41 | €46,048 | €133,067 | €258,011 | €205,640 | €132,586 | €232,878 | €234,737 | €248,009 | ▲ 5.7% |
| Trade receivables40 | - | - | - | €205,640 | €132,586 | €132,586 | €132,586 | €147,586 | ▲ 11.3% |
| Other amounts receivable41 | - | - | - | - | - | €100,293 | €102,151 | €100,423 | ▼ 1.7% |
| Cash at bank and in hand54/58 | €96,258 | €78,102 | €13,086 | €60,831 | €135,598 | €19,289 | €15,787 | €13,800 | ▼ 12.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €1,007 | €1,020 | ▲ 1.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €206,351 | €211,169 | €271,096 | €266,471 | €268,183 | €252,168 | €251,531 | €262,829 | ▲ 4.5% |
| Equity10/15 | €181,660 | €210,380 | €222,766 | €251,895 | €262,564 | €51,626 | €49,056 | €60,595 | ▲ 23.5% |
| Contributions10/11 | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | - | - | €300,000 | €300,000 | €100,000 | €100,000 | €100,000 | = |
| Issued capital100 | - | - | - | €300,000 | €300,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€118,340 | -€89,620 | -€77,234 | -€48,105 | -€37,436 | -€48,375 | -€50,944 | -€39,405 | ▲ 22.6% |
| Amounts payable17/49 | €24,691 | €789 | €48,331 | €14,576 | €5,619 | €200,542 | €202,474 | €202,234 | ▼ 0.1% |
| Amounts payable within one year42/48 | €24,691 | €789 | €48,331 | €14,576 | €5,619 | €200,542 | €202,474 | €202,234 | ▼ 0.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €1,263 | €1,263 | = |
| Trade debts44 | €11,752 | €789 | €48,331 | €1,763 | €1,205 | €336 | €1,007 | €971 | ▼ 3.6% |
| Suppliers440/4 | - | - | - | €1,763 | €1,205 | €336 | €1,007 | €971 | ▼ 3.6% |
| Taxes, remuneration and social security45 | - | - | - | €12,813 | €4,415 | €206 | €204 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €12,813 | €4,415 | €206 | €204 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | - | - | €200,000 | €200,000 | €200,000 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,829 | €28,720 | €12,386 | €29,129 | €10,669 | -€10,939 | -€2,569 | €11,538 | - |
| + Depreciation and write-downs630 | €30,490 | €8,867 | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | €36,319 | €37,586 | €12,386 | €29,129 | €10,669 | -€10,939 | -€2,569 | €11,538 | - |
| Change in cash | - | -€18,157 | -€65,016 | €47,746 | €74,766 | -€116,308 | -€3,503 | -€1,986 | ▲ 43.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,508 companies had the same profile as S2S has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
The bankruptcy probability of S2S itself is lower: 0.1% within 12 months. It rests on far more data about S2S than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,508 companies, not a prediction for S2S. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00326785 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00326265 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00418541 | |
| 31-12-2022 | abbreviated format | 22-08-2023 | 2023-00380362 | |
| 31-12-2021 | micro format | 27-09-2022 | 2022-20436175 | |
| 31-12-2020 | abbreviated format | 14-09-2021 | 2021-67300342 | |
| 31-12-2019 | abbreviated format | 31-12-2020 | 2020-77800104 | |
| 31-12-2018 | micro format | 18-02-2020 | 2020-05300569 | |
| 31-12-2017 | micro format | 18-02-2020 | 2020-05400005 | |
| 31-12-2016 | abbreviated format | 01-08-2017 | 2017-40800371 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerChain of control
Owners 1
- KASPAR SERVICESparentEquity €324,590 Profit of €187,546 in 2025 (profit of €613,521 in 2024) Checked score 90100%
Capital transactions
- 29-11-2023 Capital reduction of €200,000 · to €100,000 · repaid to the shareholders
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| KASPAR SERVICES BV |
|
| Joost Defever |
|
| Lenke Schenkels |
|
Network & group
Companies at the same address
5 other companiesConnections & network
1 current directorThe network starts from the directors of S2S. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
29-11
Gazette deed
Capital decrease of €200,000 to €100,000Change of role: Joost Defever, from manager to director · Resignation: Lenke Schenkels (manager) · Amendment of the articles12 points ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Amendment of the articles, mentioned 5 times in the deed
- Kind of shares, “afschaffing categorieën, verslag bestuursorgaan overeenkomstig artikel 7:155 Wetboek Vennootschappen en Verenigingen” (deed in Dutch)
- Capital decrease, €200,000
- Other provision, “geen vernietiging van aandelen naar aanleiding van vermindering” (deed in Dutch)
- Power of attorney
- Capital, €100,000
- Director resignation, Joost Defever (manager (not named in the articles))
- Director resignation, Lenke Schenkels (manager (not named in the articles))
- Director appointment, Joost Defever (director (not named in the articles))
- Registered office clause, “3140 Keerbergen,Krekelweg 2” (deed in Dutch)
- Power of attorney, Ellen VERHAERT
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
2 activities
- Adviezen en diensten te verlenen aan ondernemingen en de overheid die verband houden met de invordering van openstaande vorderingen, en meer algemeen ondersteunende activiteiten in het kader van procesoptimalisatie en bedrijfsvoering.
- Alle handelingen te verrichten die rechtstreeks of onrechtstreeks strekken tot de verwezenlijking van haar maatschappelijk voorwerp of die de verwezenlijking ervan kunnen begunstigen of beschermen.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21014A0014/02L002 | Brussels | 3,343 m² | 1 · 3,343 m² | 144.7 m · 28 |
| 24472F0183/00X000 | Flanders | 1,566 m² | 1 · 226 m² | 10.1 m · 2 |