Summary
Conclusion
the dossier summarised in one paragraphThe KBO register records legal situation 050 for SPAAD (Register: open bankruptcy); this is today's state according to the register itself, which carries no start date. The 2021 annual accounts show equity of €27k and a net result of €8k.
Based on the State Gazette, CBE and 2 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneBankruptcy opened
A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.
Insolvency timeline
1 events14-03-2025
KBO administration
Address struck
Signals
Insufficient current data: the most recent filed accounts (financial year 2021) are too old to derive current signals.
Filing behaviour
From the deposit records, complete market-wideFiling behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 19-09-2022, 50 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
How we compute the deadline
The year end is derived from 2 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2021, that is 31-07-2022.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | nothing on record | not filed | - |
| 31-12-2022 | 31-07-2023 | nothing on record | not filed | - |
| 31-12-2021 | 31-07-2022 | 19-09-2022 | 50 d late | 2022-20433740 |
| 31-12-2020 | 31-07-2021 | 15-11-2021 | 107 d late | 2021-77300203 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
1 signalRegister: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Administrative Flags
1 eventAddress struck
Financials
Turnover€40k-70.7%
EBIT margin22.0%+10.9pp
Net result€8k-33.9%
Working capital€8k
Annual accounts & ratios
Source: NBB · 2021Annual accounts filed on 19-09-2022 with the NBB · fiscal year 2021 · micro
Sector comparison
Fiscal year 2021 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 73.3% | 22.3% | |
| Net result | €8k | €3k | |
| Equity | €27k | €13k | |
| Gross operating margin | €12k | €30k | |
| Total assets | €37k | €73k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€40k
-70.7%
20-21
€11k
-40.2%
20-21
€8k
-33.9%
20-21
€11k
-33.4%
20-21
€37k
+31.3%
20-21
€27k
+44.1%
20-21
€8k
-
20-21
€518
-81.6%
20-21
Show 11 other metrics
€10k
+5.6%
20-21
€10k
+5.6%
20-21
1.77
+144.9%
20-21
1.72
+137.8%
20-21
73.3%
+9.7%
20-21
0.36
-
20-21
30.6%
-54.1%
20-21
22.4%
-49.7%
20-21
20.4%
+125.7%
20-21
27.9%
+104.2%
20-21
86.46
-
20-21
Figures by fiscal year
| Fiscal year | 2021 |
|---|---|
| Deposit | micro |
| Revenue | €40k |
| EBITDA | €11k |
| Net profit | €8k |
| Cash flow | €11k |
| Staff costs | - |
| Income taxes | €518 |
| Dividends | - |
| Total assets | €37k |
| Equity | €27k |
| Debt | €10k |
| of which ≤ 1y | €10k |
| of which > 1y | - |
| Working capital | €8k |
| Employees (FTE) | - |
Ratios (computed)
| 2021 | |
|---|---|
| Current ratio | 1.77 |
| Quick ratio | 1.72 |
| Working capital ratio | 20.5% |
| Solvency | 73.3% |
| Debt / equity | 0.36 |
| Long-term debt ratio | - |
| Interest coverage | 86.46 |
| Gross margin | -2.8% |
| Net margin | 20.4% |
| ROA | 22.4% |
| ROE | 30.6% |
| EBITDA margin | 27.9% |
| Days sales outstanding | 29d |
| Days payable outstanding | 72d |
| Inventory turnover | 83.05 |
| Days inventory (DSI) | 4d |
Balance-sheet composition 2021
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2021 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €37k |
| Fixed assets | 21/28 | €3k |
| Formation expenses | 20 | €16k |
| Tangible fixed assets | 22/27 | €333 |
| Financial fixed assets | 28 | €3k |
| Current assets | 29/58 | €17k |
| Stocks & contracts in progress | 3 | €500 |
| Amounts receivable within one year | 40/41 | €4k |
| Cash & bank | 54/58 | €13k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €37k |
| Equity | 10/15 | €27k |
| Contributions / capital | 10/11 | €6k |
| Accumulated profits (losses) | 14 | €21k |
| Amounts payable | 17/49 | €10k |
| Amounts payable within one year | 42/48 | €10k |
| Trade debts payable within one year | 44 | €8k |
| Income statement | ||
| Turnover | 70 | €40k |
| Gross operating margin | 9900 | €12k |
| Operating result | 9901 | €9k |
| Financial charges | 65 | €130 |
| Result before taxes | 9903 | €9k |
| Income taxes | 67/77 | €518 |
| Net result for the period | 9904 | €8k |
| Result to be appropriated | 9905 | €8k |
This table shows the latest fiscal year. 1 prior year, with figures and ratios, belongs to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2021 · computed24
/ 100
Critical
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2021 and the legal situation the KBO register itself records. Indicative, not credit advice.
Directors
Directors & mandates
2 directors6 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.
Current directors & mandates
-
MARTINCANI RenatoDirectorState Gazette act 22138397 (25-11-2022)Current26-10-2022 → present
Former directors (1)
-
Hoxhaj ErmalDirectorState Gazette act 22138397 (25-11-2022)Former- → 25-10-2022
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Cafés en bars(56301) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 12-04-2019 |
| Status | Active |
| Postal code | - |
Locations & real estate
Registered office
on the map · from the address registerParcels1
Ground area188 m²
Buildings1
Building footprint193 m²
Volume (LiDAR)2,547 m³
Tallest building24.8 m · ±5 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21304B0015/00D004 | Brussels | 188 m² | 1 · 193 m² | 24.8 m · 5 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
1 event from the State Gazette14-03-2025
KBO administration
Address struck
Time machine: BS events + macro context
2021-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
2 acts Capital history · 2
25-11-2022
Capital change
28-10-2022
Capital change
All acts · 2
updated 3 years ago
2022
25-11-2022 All shares are now held by a single shareholder
28-10-2022 Transaction in capital or shares
Analysis
Financial profile
5 of 5 axes measured51
/ 100
Mixed profile: strong on profitability, weaker on stability.
All 5 axes are computed from data Checked has read.
Health
24
Profitability
100
Solvency
95
Growth
35
Stability
0
Credit advice
verdict per customer and amountSimilar
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We hold annual accounts for 1,390 of the 13,889 companies in this sector. 1,168 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Cafés en bars56301Cafés en bars56301
Primary activity highlighted.
Names & trade names
| Legal nameFR | SPAAD |
Registration history
- 14-03-2025 Address struck
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.