Skip to content
Checked.be
Complete company report
Generated 10-07-2026
Active BE 0769.930.075Private limited company

SPAC CONSTRUCT

Mutsaardplein 2 ·1853 Grimbergen, Belgium· 5 yrs active
Sector: Construction of buildings (41001)
Conclusion Checked

The computed 12-month bankruptcy probability of SPAC CONSTRUCT is 2.3% (moderate). The 2024 annual accounts show equity of €28k and a net result of €6k. Equity is growing by ~38% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.
Key figures
Equity €28k
Net result €6k
Active 5 yrs
Locations 1
Snowflake analysis 5 axes · computed by Checked
Health93Profitability100Solvency100Growth85Stability94
94 / 100

Exceptional profile, strong across almost every axis.

Health 93
Profitability 100
Solvency 100
Growth 85
Stability 94
Bankruptcy probability (12 mo) Checked model v1 · free
2.3% Moderate
0%0,5%1,5%4%10%≥25%
Young company +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
More than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2024 · computed
93 / 100 Excellent
050100

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

See plans →
Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview4 NBB filings
Annual accounts filed on 01-09-2025 with the NBB · fiscal year 2024 · micro
€0€20k€40k€60kRevenue 2021: €27k€27kOperating result 2021: €3k€3kNet result 2021: €3k€3kRevenue 2022: €69k€69kOperating result 2022: €17k€17kNet result 2022: €13k€13kOperating result 2023: €8k€8kNet result 2023: €5k€5kOperating result 2024: €9k€9kNet result 2024: €6k€6k2021202220232024
RevenueOperating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~38%/year over 4 fiscal years, indicative, assuming unchanged policy.
€0€20k€40k€60k2025: €36k (€33k - €39k)2026: €43k (€38k - €48k)2027: €50k (€44k - €57k)2021: €4k2022: €17k2023: €22k2024: €28k2021202220232024202520262027
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Revenue
€69k
+153.5% 21-24
Net profit
€6k
+35.7% far above sector median
Total assets
€43k
+80.1% -90% vs sector
Equity
€28k
+29.9% -76% vs sector
Working capital
€28k
+29.9% +40% vs sector
Staff costs
€1k
+22.0% -98% vs sector
Income taxes
€2k
-23.4% -8% vs sector
Debt
€15k
+509.8% -95% vs sector
Debt ≤ 1y
€15k
+509.8% -94% vs sector
Current ratio
2.82
-70.5% +98% vs sector
Quick ratio
2.82
-70.5% +98% vs sector
Solvency
64.6%
-27.9% +105% vs sector
Debt / equity
0.55
+369.4% -75% vs sector
ROE
23.0%
+4.4% far above sector median
ROA
14.9%
-24.7% far above sector median
Net margin
19.3%
+101.7% 21-24
Figures by fiscal year
Fiscal year2024
Revenue-
EBITDA-
Net profit€6k
Cash flow-
Staff costs€1k
Income taxes€2k
Dividends-
Total assets€43k
Equity€28k
Debt€15k
of which ≤ 1y€15k
of which > 1y-
Working capital€28k
Employees (FTE)-
Ratios (computed)
2024
Current ratio2.82
Quick ratio2.82
Working capital ratio64.6%
Solvency64.6%
Debt / equity0.55
Long-term debt ratio-
Interest coverage-
Gross margin-
Net margin-
ROA14.9%
ROE23.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€43k
Current assets 29/58€43k
Amounts receivable within one year 40/41€41k
Cash & bank 54/58€3k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€43k
Equity 10/15€28k
Contributions / capital 10/11€1k
Accumulated profits (losses) 14€27k
Amounts payable 17/49€15k
Amounts payable within one year 42/48€15k
Trade debts payable within one year 44€13k
Income statement
Gross operating margin 9900€11k
Operating result 9901€9k
Financial income 75€0
Financial charges 65€189
Result before taxes 9903€9k
Income taxes 67/77€2k
Net result for the period 9904€6k
Result to be appropriated 9905€6k
You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Legal Structure
NACE primary Construction of buildings(41001)
Legal form Private limited company(610)
Incorporation22-06-2021
StatusActive
Postal code1853
Establishment units 1 location
SPAC CONSTRUCT
Jean-Baptiste Depairelaan 46, 1020 BrusselVervaardiging van metalen constructiewerken of gebinten voor de bouw
since 20212.318.614.556
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels 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.

Flanders 1 (50%) Brussels 1 (50%)
Parcel (capakey) Region Area Buildings Height / fl.
23084A0399/00M025 Flanders 1,424 m² 1 · 561 m² 22.0 m · 5 fl.
21816H0109/00N011 Brussels 169 m² 1 · 103 m² 16.2 m · 5 fl.
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 6 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
01-09-2025
NBB filing Annual accounts filed
fiscal year 2024 · micro
2024
18-09-2024
NBB filing Annual accounts filed
fiscal year 2023 · micro
03-04-2024
State Gazette act Capital & shares
2023
08-09-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
2022
26-09-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
2021
04-11-2021
State Gazette act Capital & shares
Belgisch Staatsblad, acts 2 acts
Capital history · 2
03-04-2024
Capital change
04-11-2021
Capital change
All acts · 2 updated 2 years ago
2024
03-04-2024 All shares are now held by a single shareholder Capital & shares
Technical details 
{
  "events": [
    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Spac Pavel",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 100,
          "contribution_amount_eur": null
        },
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Adrian SPAC",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 0,
          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "eenhoofdigheid_declaration",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Brussel",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2024-04-03",
    "filing_date": "2024-03-25",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": "2024-03-25",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2023-12-27"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0769.930.075",
    "name_full": "SPAC CONSTRUCT",
    "legal_form": "Besloten vennootschap",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": 100.0,
      "kind": "person",
      "name": "Spac Pavel",
      "role": "bestuurder",
      "n_shares": 100,
      "share_class": null
    },
    {
      "kbo": null,
      "pct": 0.0,
      "kind": "person",
      "name": "Adrian SPAC",
      "role": null,
      "n_shares": 0,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
2021
04-11-2021 Transaction in capital or shares Capital & shares
Technical details 
{
  "events": [
    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Pavel SPAC",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 75,
          "contribution_amount_eur": null
        },
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Adrian SPAC",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 25,
          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Luik",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2021-11-04",
    "filing_date": "2021-10-25",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2021-10-22",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2021-10-22"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0769.930.075",
    "name_full": "SPAC CONSTRUC\u0422",
    "legal_form": "BV",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": 75.0,
      "kind": "person",
      "name": "Pavel SPAC",
      "role": "g\u00E9rant_statutaire",
      "n_shares": 75,
      "share_class": null
    },
    {
      "kbo": null,
      "pct": 25.0,
      "kind": "person",
      "name": "Adrian SPAC",
      "role": "g\u00E9rant_statutaire",
      "n_shares": 25,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
Credit advice verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
AI due-diligence brief Checked AI

Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

Coming soon
AI-generated from Checked data; indicative, not legal or investment advice.
Company registry (CBE) Crossroads Bank
Activities
Algemene bouw van residentiële gebouwen41001Algemene bouw van residentiële gebouwen41201Overige werkzaamheden in verband met de afwerking van gebouwen43350Overige werkzaamheden in verband met de afwerking van gebouwen43390Overige gespecialiseerde bouwactiviteiten, neg43990Restaureren van bouwwerken43995
Primary activity highlighted.
Names & trade names
Legal nameNL SPAC CONSTRUCT
Registered office
Mutsaardplein 2
1853 Grimbergen, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Similar companies Same NACE
Aannemingen Janssen BE 0415.911.848 · Geel
Algemene Bouwondernemingen - VOBEC BE 0418.390.296 · Puurs-Sint-Amands
Van de Vel BE 0406.689.623 · Rumst
IMMO VAN DER POORTEN BE 0419.112.551 · Zottegem
Boske BE 0412.460.133 · Duffel
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative