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Spabois

Active
Public limited companyfounded 197749 yrs activeAvenue Reine Astrid 272, 4900 Spa, BelgiumKBO/BCE: BE 0417.008.938
Summary

The computed 12-month bankruptcy probability of Spabois is 4.9% (elevated). The 2025 annual accounts show negative equity (-€196,215) and a net result of -€256,697. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 6032 sector peers (fiscal year 2025). The company has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
SpaboisActiveChecked score 34/100
Risk analysis ReportCompare

Overview

Activity
Wholesale of timber
NACE 46832NACE 46732Retail sale of hardware, building materials, paint and glass (general range) NACE 47521
#3 oldest company in Spa, Wholesale and retail trade sector2 sites
Size
€2.5mtotal assets 2025
Staff
13.4 FTE
Equity
-€196,215
Loss
-€256,697
Financial health
34 Weak Checked score 2025
Bankruptcy chance 12 m
4.9%
Structure
Parent
Hubo België · 100%
Accounts 8 d early0 of 9 deeds read
Why 34- Negative equity -€196,215- Loss of €256,697, the second in a row (FY 2025)- Liquidity: current ratio 0.83, cash €49,376- Founded in 1977Show the evidence

Checked score

Score 2025
34 / 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 3% of its sector peers (NACE 46, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 17-10
equity -7.9% of total assets
Liquidity 2-2
short-term debt 107.4% · cash 2.0%
Profitability 6+6
return on assets -10.4%
Bankruptcy probability, 12 months
4.9% Elevated
0%0.5%1.5%4%10%≥ 25%

About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (4,378 companies)
Last 24 months 11-2024: 1.7%lowest value 12-2024: 1.7%● 0.0% vs 11-2024lowest value 01-2025: 1.7%● 0.0% vs 12-2024lowest value 02-2025: 1.7%● 0.0% vs 01-2025lowest value 03-2025: 1.7%● 0.0% vs 02-2025lowest value 04-2025: 1.8%▲ +4.9% vs 03-2025 05-2025: 1.8%▲ +1.4% vs 04-2025 06-2025: 1.7%▼ -4.0% vs 05-2025 07-2025: 2.0%▲ +13.8% vs 06-2025 08-2025: 3.5%▲ +73.6% vs 07-2025 09-2025: 3.5%● 0.0% vs 08-2025 10-2025: 3.5%● 0.0% vs 09-2025 11-2025: 3.5%● 0.0% vs 10-2025 12-2025: 3.5%● 0.0% vs 11-2025 01-2026: 3.5%● 0.0% vs 12-2025 02-2026: 3.5%▲ +1.5% vs 01-2026 03-2026: 3.5%● 0.0% vs 02-2026 04-2026: 3.6%▲ +2.1% vs 03-2026 05-2026: 3.6%▲ +0.5% vs 04-2026 06-2026: 3.6%▲ +0.8% vs 05-2026 07-2026: 3.7%▲ +1.2% vs 06-2026 08-2026: 4.9%▲ +32.5% vs 07-2026highest value 09-2026: 4.9%● 0.0% vs 08-2026highest value 10-2026: 4.9%● 0.0% vs 09-2026highest value
  • Negative equity -€196,215 raises the probability
  • Loss of €256,697, the second in a row (FY 2025) raises the probability
  • Liquidity: current ratio 0.83, cash €49,376 raises the probability
  • Founded in 1977 raises the probability for this profile
No credit on open account
Liquidity short (current ratio 0.83 against 0.92 in 2024; short-term debt: 107.4% and cash: 2% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 46, small). Better than this share of them on solvency 3%, liquidity 3%, profitability 5%, growth against the median 1%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity -€196,215
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €256,697, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.83, cash €49,376
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Founded in 1977
In the bankruptcy model this factor raises the probability for this profile.
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€196,215
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
8 d early
2024
14 d early
2023
26 d early
2022
31 d early
2021
4 d late
2020
3 d early
2019
4 d 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 12 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 17 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Annual accounts filedfiscal year 2024 · full…
  3. Weakest financial yearnet -€388,259

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€196,215 View
  • Risk: 3 loss-making years in a rowloss fiscal year 2025 -€256,697 View
  • Caution: Among the weakest 5% on equitysector median €1.6m · 5,971 companies -€196,215 View
  • Controlled by Hubo Belgiëknown shareholders 100% 100% View
  • Positive: Result rose in 2025from -€388,259 to -€256,697 ▲ 33.9% View
  • Active since 1977founded 04-03-1977 49 years View
  • Positive: Always filed on timeaccounts within the deadline every year 4 years View

By topic

Financials

Fiscal year
2025
Total assets
€2.5m
Loss
-€256,697
Solvency
-7.9%
Turnover▼ 6.5%
Net result
20182022
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 31-07-2027
  1. 23-07-2026Annual accounts filed
  2. 17-07-2025Annual accounts filed
  3. 31-12-2024Weakest financial year
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Wholesale of timberNACE 46832
Founded
04-03-1977
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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