Equity
SP²E paid out €120,153 in dividends in a year with a loss of €20,166.
SP²E paid out €120,153 in dividends in a year with a loss of €20,166.
From profit to loss in 2025, after a profit of €59,190 in 2024.
Three of the last ten came late. The 2016 accounts came latest: 24 days after the end of the period.
In July 2024, 2,686 companies had the same profile as SP²E has now. Each dot stands for 7 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 2,686 companies, not a prediction for SP²E. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| SP²E Wanze | €456,634 | €25,998 | 85.2% | - |
| KingRE Consulting Herentals | €485,210 | €26,448 | 81.9% | - |
| PIANCO MANAGEMENT Gavere | €530,173 | €25,428 | 84.6% | - |
| MEUREZ CO Kluisbergen | €545,192 | €25,106 | 86.4% | 0 |
| STI Ostend | €522,316 | €25,761 | -16.8% | - |
| ReivaX Immo Ferrières | €418,847 | €21,011 | 22.1% | - |
| DOUETTE Luc Hannut | €472,359 | €23,230 | 98.9% | - |
These companies have the same main activity as SP²E: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €419,000 and €545,000, founded between 2002 and 2011.
SP²E files the micro format. That format states no turnover. The gross margin fell from €128,262 in 2009 to €25,998 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €42,000. Estimated: probably between €32,000 and €62,000.
Higher than 89% of 17,199 companies in 2025.
Higher than 83% of 16,496 companies in 2025.
Higher than 18% of 16,875 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
456,634 | 628,450 | 695,204 | 659,869 | 699,921 | 580,652 | 469,706 | 551,848 | 518,529 | 523,477 | 361,249 | 269,594 | 291,501 | 343,059 | 366,471 | 419,912 | 465,176 | |
20 |
- | - | 1,068 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
21/28 |
164,666 | 193,774 | 220,894 | 239,905 | 274,904 | 305,087 | 343,977 | 381,305 | 368,482 | 306,259 | 321,442 | 200,801 | 232,179 | 294,058 | 315,677 | 350,689 | 354,948 | |
22/27 |
164,614 | 193,722 | 220,842 | 239,853 | 274,852 | 305,035 | 343,925 | 381,185 | 368,362 | 306,139 | 321,322 | 200,681 | 232,059 | 272,295 | 293,914 | 319,671 | 354,828 | |
22 |
162,111 | 180,256 | 203,911 | 236,300 | 267,454 | 300,012 | 327,427 | 360,205 | 350,432 | 305,800 | 319,456 | 197,951 | 219,704 | 243,754 | 270,355 | 283,500 | 315,000 | |
23 |
1,457 | 2,101 | - | - | 648 | 1,295 | 1,943 | 2,590 | - | 0 | 102 | 203 | - | - | - | - | - | |
24 |
1,046 | 11,365 | 16,931 | 3,552 | 6,750 | 3,727 | 14,556 | 18,390 | 17,930 | 339 | 1,765 | 2,527 | 12,354 | 28,541 | 9,582 | 14,206 | 9,876 | |
28 |
52 | 52 | 52 | 52 | 52 | 52 | 52 | 120 | 120 | 120 | 120 | 120 | 120 | 21,763 | 21,763 | 31,018 | 120 | |
29/58 |
291,968 | 434,676 | 473,241 | 419,964 | 425,018 | 275,566 | 125,728 | 170,543 | 150,048 | 217,218 | 39,807 | 68,793 | 59,322 | 49,002 | 50,794 | 69,222 | 110,228 | |
40/41 |
3,182 | 21,500 | 89,258 | 230,419 | 238,303 | 184,585 | 81,441 | 96,652 | 81,725 | 210,293 | 34,392 | 17,331 | 34,201 | 36,832 | 34,689 | 35,829 | 47,827 | |
40 |
662 | 20,419 | 87,815 | 188,140 | 238,303 | 177,319 | 74,175 | 87,326 | 72,400 | 210,293 | 32,247 | 17,331 | 33,353 | 36,179 | 34,689 | 35,829 | 47,827 | |
41 |
2,520 | 1,081 | 1,443 | 42,279 | - | 7,266 | 7,266 | 9,325 | 9,325 | - | 2,146 | - | 849 | 653 | - | - | - | |
50/53 |
150,147 | 150,147 | 348,936 | 135,507 | 150,147 | - | - | - | - | - | - | - | - | - | 11,036 | 17,471 | 10,233 | |
54/58 |
136,550 | 261,885 | 34,191 | 52,836 | 35,838 | 88,991 | 43,363 | 70,872 | 67,347 | 6,925 | 5,415 | 50,748 | 24,600 | 11,918 | 4,829 | 15,923 | 52,168 | |
490/1 |
2,088 | 1,144 | 856 | 1,203 | 729 | 1,990 | 924 | 3,019 | 976 | - | - | 714 | 521 | 252 | 240 | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
456,634 | 628,450 | 695,204 | 659,869 | 699,921 | 580,652 | 469,706 | 551,848 | 518,529 | 523,477 | 361,249 | 269,594 | 291,501 | 343,059 | 366,471 | 419,912 | 465,176 | |
10/15 |
388,871 | 529,190 | 585,080 | 495,947 | 413,557 | 389,390 | 287,649 | 225,049 | 178,497 | 140,242 | 31,612 | 25,589 | 18,973 | 16,932 | 16,892 | 17,330 | 9,107 | |
10/11 |
8,600 | 8,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 14,300 | 6,300 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,300 | 12,300 | |
13 |
400,437 | 520,590 | 566,480 | 477,347 | 394,957 | 370,790 | 254,579 | 191,979 | 145,558 | 107,303 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
132 |
- | - | - | - | - | - | 3,941 | 1,876 | - | - | - | - | - | - | - | - | - | |
133 |
400,437 | 520,590 | 564,620 | 475,487 | 393,097 | 368,930 | 248,777 | 188,243 | 143,698 | 105,443 | - | - | - | - | - | - | - | |
14 |
-20,166 | - | - | - | - | - | 14,470 | 14,470 | 14,339 | 14,339 | 11,152 | 5,129 | -1,487 | -3,528 | -3,568 | 1,170 | 947 | |
17/49 |
67,763 | 99,260 | 110,124 | 163,922 | 286,364 | 191,262 | 182,057 | 326,798 | 340,033 | 383,235 | 329,638 | 244,005 | 272,528 | 326,127 | 349,579 | 402,582 | 456,069 | |
17 |
- | - | 14,930 | 30,932 | 46,642 | 73,266 | 99,507 | 125,370 | 181,772 | 183,160 | 226,192 | 118,781 | 145,158 | 170,327 | 198,062 | 230,355 | 262,127 | |
170/4 |
- | - | 14,930 | 30,932 | 46,642 | 73,266 | 99,507 | 125,370 | 181,772 | 183,160 | 226,192 | 118,781 | 145,158 | 170,327 | 198,062 | 230,355 | 262,127 | |
42/48 |
67,763 | 99,260 | 95,194 | 132,990 | 239,723 | 117,996 | 82,543 | 200,966 | 155,311 | 196,960 | 99,961 | 125,224 | 127,370 | 155,800 | 151,517 | 164,328 | 189,165 | |
42 |
- | 14,930 | 16,002 | 15,710 | 26,624 | 26,241 | 25,863 | 57,306 | 56,388 | 43,032 | 41,449 | 26,377 | 25,169 | 24,017 | 31,793 | 31,396 | 29,918 | |
44 |
4,736 | 2,321 | 28,665 | 4,162 | 2,017 | 3,279 | 7,297 | 10,595 | - | 40,306 | 1,656 | 1,355 | 1,145 | 168 | 2,136 | 1,836 | 7,121 | |
440/4 |
4,736 | 2,321 | 28,665 | 4,162 | 2,017 | 3,279 | 7,297 | 10,595 | - | 40,306 | 1,656 | 1,355 | 1,145 | 168 | 2,136 | 1,836 | 7,121 | |
45 |
7,453 | 24,407 | 50,527 | 74,863 | 77,054 | 45,261 | 21,528 | 17,096 | 10,119 | 62,720 | 8,855 | 28,697 | 11,284 | 13,429 | 9,563 | 10,218 | 11,298 | |
450/3 |
7,453 | 20,671 | 50,527 | 74,863 | 77,054 | 43,767 | 20,781 | 17,096 | 6,681 | 62,080 | 6,164 | 19,155 | 11,284 | 13,429 | 7,943 | 9,715 | 10,767 | |
454/9 |
- | 3,736 | - | - | - | 1,494 | 747 | - | 3,437 | 640 | 2,691 | 9,542 | - | - | 1,619 | 504 | 531 | |
47/48 |
55,574 | 57,602 | - | 38,255 | 134,027 | 43,216 | 27,855 | 115,970 | 88,804 | 50,902 | 48,001 | 68,796 | 89,772 | 118,185 | 108,025 | 120,878 | 140,828 | |
492/3 |
- | - | - | - | - | - | 7 | 462 | 2,950 | 3,115 | 3,485 | - | - | - | - | 7,899 | 4,777 | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,822 | - | - | |
9900 |
25,998 | 127,249 | 148,239 | 239,731 | 229,734 | 212,928 | 132,949 | 117,767 | 120,668 | 215,326 | 95,774 | 63,269 | 61,886 | 68,442 | 54,931 | 70,799 | 128,262 | |
62 |
- | - | - | - | - | - | - | - | - | 1,126 | - | - | - | - | - | - | - | |
630 |
22,121 | 39,527 | 35,996 | 36,275 | 35,518 | 35,142 | 39,771 | 39,408 | 48,605 | 28,759 | 72,869 | 34,945 | 37,896 | 42,595 | 42,048 | 44,205 | 108,984 | |
640/8 |
23,546 | 6,238 | 4,411 | 7,049 | 3,584 | 5,232 | 3,143 | 4,314 | 2,482 | 2,262 | 2,370 | 2,741 | 3,013 | 9,940 | 2,617 | 2,591 | 6,330 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,325 | - | - | - | |
9901 |
-19,669 | 81,483 | 107,832 | 196,407 | 190,631 | 172,555 | 90,034 | 74,045 | 69,582 | 183,178 | 20,535 | 25,583 | 20,977 | 15,907 | 10,267 | 24,002 | 12,948 | |
75/76B |
182 | 1,836 | 14,160 | 2 | 0 | 2 | 1 | 0 | 0 | - | 2 | 2 | 10 | - | 854 | 640 | 612 | |
75 |
182 | 1,836 | 14,160 | 2 | 0 | 2 | 1 | 0 | 0 | - | 2 | 2 | 10 | - | 854 | 640 | 612 | |
65/66B |
628 | 219 | 1,314 | 16,705 | 2,354 | 3,106 | 3,301 | 8,921 | 10,652 | 12,376 | 11,682 | 14,490 | 16,281 | 12,849 | 16,823 | 21,503 | 7,453 | |
65 |
628 | 219 | 1,314 | 16,705 | 2,354 | 3,106 | 3,301 | 8,921 | 10,652 | 12,376 | 11,682 | 14,490 | 16,281 | 12,849 | 16,823 | 21,503 | 7,453 | |
9903 |
-20,115 | 83,101 | 120,678 | 179,705 | 188,277 | 169,451 | 86,733 | 65,124 | 58,930 | 170,801 | 8,855 | 11,095 | 4,705 | 1,732 | -3,880 | 3,139 | 6,107 | |
67/77 |
51 | 23,911 | 31,546 | 59,060 | 58,667 | 53,240 | 24,134 | 18,571 | 20,675 | 65,359 | 2,832 | 4,479 | 2,665 | 1,692 | 859 | 2,916 | 3,300 | |
9904 |
-20,166 | 59,190 | 89,132 | 120,645 | 129,610 | 116,211 | 62,600 | 46,553 | 38,255 | 105,443 | 6,023 | 6,616 | 2,041 | 40 | -4,738 | 223 | 2,807 | |
789 |
- | - | - | - | - | 3,941 | - | - | - | - | - | - | - | - | - | - | - | |
689 |
- | - | - | - | - | - | 2,065 | 1,876 | - | - | - | - | - | - | - | - | - | |
9905 |
-20,166 | 59,190 | 89,132 | 120,645 | 129,610 | 120,153 | 60,534 | 44,677 | 38,255 | 105,443 | 6,023 | 6,616 | 2,041 | 40 | -4,738 | 223 | 2,807 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
-20,166 | 59,190 | 89,132 | 120,645 | 129,610 | 134,623 | 75,004 | 59,016 | 52,594 | 119,782 | 11,152 | 5,129 | -1,487 | -3,528 | -3,568 | 1,170 | 2,807 | |
791/2 |
120,153 | 60,534 | - | 38,255 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | 59,190 | 89,132 | 120,645 | 24,167 | 120,153 | 60,534 | 44,545 | 38,255 | 105,443 | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | 59,190 | 89,132 | 120,645 | 24,167 | 120,153 | 60,534 | 44,545 | 38,255 | 105,443 | - | - | - | - | - | - | - | |
694/7 |
120,153 | 60,534 | - | 38,255 | 105,443 | 14,470 | - | - | - | - | - | - | - | - | - | - | - | |
694 |
120,153 | 60,534 | - | 38,255 | 105,443 | 14,470 | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00326438 | |
| 31-12-2024 | micro format | 05-08-2025 | 2025-00358536 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00153635 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00172116 | |
| 31-12-2021 | micro format | 31-05-2022 | 2022-20039626 | |
| 31-12-2020 | micro format | 02-06-2021 | 2021-16800593 | |
| 31-12-2019 | micro format | 30-06-2020 | 2020-23900305 | |
| 31-12-2018 | micro format | 24-06-2019 | 2019-22000374 | |
| 31-12-2017 | micro format | 14-08-2018 | 2018-46000142 | |
| 31-12-2016 | micro format | 24-08-2017 | 2017-49400054 | |
| 31-12-2015 | full format | 13-08-2016 | 2016-42900493 | |
| 31-12-2014 | full format | 28-08-2015 | 2015-51700200 | |
| 31-12-2013 | full format | 10-07-2014 | 2014-29200539 | |
| 31-12-2012 | full format | 08-10-2013 | 2013-62300575 | |
| 31-12-2011 | full format | 28-08-2012 | 2012-47200161 | |
| 31-12-2010 | full format | 08-07-2011 | 2011-28000313 | |
| 31-12-2009 | full format | 25-08-2010 | 2010-45500065 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,452 | 121,011 | 143,828 | 232,682 | 226,150 | 207,697 | 129,806 | 113,452 | 118,187 | 211,937 | 93,404 | 60,528 | 58,873 | 58,502 | 52,315 | 68,208 | 121,932 | ||
| 1,955 | 98,717 | 125,128 | 156,920 | 165,128 | 151,353 | 102,371 | 85,960 | 86,860 | 134,202 | 78,891 | 41,561 | 39,937 | 42,636 | 37,310 | 44,428 | 111,791 | ||
| 28,715 | 11,339 | 16,927 | 1,276 | 5,335 | 5,216 | 2,512 | 52,231 | 110,828 | 13,576 | 193,510 | 3,568 | 1,175 | 34,954 | 16,291 | 39,947 | 463,932 | ||
| -125,335 | 227,694 | -18,645 | 16,998 | -53,152 | 45,627 | -27,509 | 3,525 | 60,422 | 1,510 | -45,333 | 26,148 | 12,682 | 7,089 | -11,094 | -36,245 | - | ||
| 224,205 | 335,416 | 378,047 | 286,975 | 185,295 | 157,569 | 43,185 | -30,424 | -5,263 | 20,257 | -60,154 | -56,431 | -68,048 | -106,798 | -100,723 | -95,106 | -78,937 | ||
| 85.2% | 84.2% | 84.2% | 75.2% | 59.1% | 67.1% | 61.2% | 40.8% | 34.4% | 26.8% | 8.8% | 9.5% | 6.5% | 4.9% | 4.6% | 4.1% | 2.0% | ||
| 4.31 | 4.38 | 4.97 | 3.16 | 1.77 | 2.34 | 1.52 | 0.85 | 0.97 | 1.10 | 0.40 | 0.55 | 0.47 | 0.31 | 0.34 | 0.42 | 0.58 | ||
| 0.17 | 0.19 | 0.19 | 0.33 | 0.69 | 0.49 | 0.63 | 1.45 | 1.90 | 2.73 | 10.43 | 9.54 | 14.36 | 19.26 | 20.70 | 23.23 | 50.08 | ||
| -5.2% | 11.2% | 15.2% | 24.3% | 31.3% | 29.8% | 21.8% | 20.7% | 21.4% | 75.2% | 19.1% | 25.9% | 10.8% | 0.2% | -28.0% | 1.3% | 30.8% | ||
| -4.4% | 9.4% | 12.8% | 18.3% | 18.5% | 20.0% | 13.3% | 8.4% | 7.4% | 20.1% | 1.7% | 2.5% | 0.7% | 0.0% | -1.3% | 0.1% | 0.6% | ||
| 3.91 | over 100 | over 100 | 13.93 | 96.06 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €286,000 | - | €286,000 | €286,000 |
| Carrying value of the mortgaged assets | - | €4,037 | - | €236,853 | €267,454 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €28,715 | €11,339 | €16,927 | €1,276 | €5,335 |
| €22,121 | €39,527 | €35,996 | €36,275 | €35,518 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €19,669, after a profit of €81,483 in 2024. It is the lowest result since 2009.
Debt's share of the balance-sheet total falls from 15.8% to 14.8%. Equity and debt are lower.
SP²E has no parent and no holdings in its annual accounts. is the only director. SP²E shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue Georges Hubin 39 registered office 4520 Wanze 70200 Business and other management consultancy | 17-11-2008 | 2.174.767.912 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 61042A0155/00A003 | 1,986 m² | 1 · 143 m² | 7.4 m · 2 |
If something looks wrong or is missing, please tell us.