SPAC Consult
ActiveSummary
SPAC Consult has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13,879 and a net result of €73,162. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency37▲+37
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 0.96 in 2024; short-term debt: 78.1% and cash: 53.4% of total assets), and 88.4% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
11.6%
Return on assets
61.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 31942 sector peers (2025).
NBB · sector comparisonPosition among 31942 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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.
NBB · 5 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
14 d late
2022
22 d late
2021
24 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€13,879
2024 · -€59,283
Total assets
€119,556▼ 43.3%
2024 · €210,964
Net result
€73,162
2024 · -€39,086
Working capital
€15,700
2024 · -€8,764
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€13,007--€24,087▼ 85.2%€11,340-€38,034€82,666
Net result-€13,827below the sector's middle half--€26,705below the sector's middle half▼ 93.1%€10,335within the sector's middle half-€39,086below the sector's middle half€73,162above the sector's middle half
Equity-€3,827below the sector's middle half--€30,532below the sector's middle half▼ 698%-€20,197below the sector's middle half▲ 33.8%-€59,283below the sector's middle half▼ 194%€13,879below the sector's middle half
Total assets€117,078within the sector's middle half-€47,000below the sector's middle half▼ 59.9%€62,528below the sector's middle half▲ 33.0%€210,964within the sector's middle half▲ 237%€119,556within the sector's middle half▼ 43.3%
Debt€120,905-€77,532▼ 35.9%€82,726▲ 6.7%€270,247▲ 227%€105,677▼ 60.9%
Working capital€41,671within the sector's middle half-€23,689within the sector's middle half▼ 43.2%€33,681within the sector's middle half▲ 42.2%-€8,764below the sector's middle half€15,700within the sector's middle half
Solvency-3.3%below the sector's middle half--65.0%below the sector's middle half▼ 61.7pp-32.3%below the sector's middle half▲ 32.7pp-28.1%below the sector's middle half▲ 4.2pp11.6%below the sector's middle half▲ 39.7pp
Current ratio1.55within the sector's middle half-2.02within the sector's middle half▲ 0.462.17within the sector's middle half▲ 0.150.96below the sector's middle half▼ 1.211.17within the sector's middle half▲ 0.21
Return on assets (ROA)-11.8%below the sector's middle half--56.8%below the sector's middle half▼ 45.0pp16.5%within the sector's middle half▲ 73.3pp-18.5%below the sector's middle half▼ 35.1pp61.2%above the sector's middle half▲ 79.7pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €82,666 after a loss of €38,034 in 2024, the highest result in the available series.
Balance-sheet composition
Assets €119,556
Fixed assets
€10,489
Current assets
€109,067
Equity and liabilities €119,556
Equity
€13,879
Debt
€105,677
Debt finances 88.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€83,685
Cash flow
€74,181
Debt to equity
7.61▲
2024 · -4.56
ROE
527.1%
Interest coverage
18.92
Debt ≤ 1 year
€93,367▼
2024 · €219,728
Debt > 1 year
€4,965▼
2024 · €44,965
Income taxes
€5,161▲
2024 · €237
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,706 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €1,019 | - |
| Other operating charges640/8 | €2,045 | €346 | €1,738 | €489 | €255 | ▼ 47.8% |
| Gross operating margin9900 | -€10,961 | -€23,741 | €13,078 | -€37,545 | €83,940 | ▲ 324% |
| Operating profit (loss)9901 | -€13,007 | -€24,087 | €11,340 | -€38,034 | €82,666 | ▲ 317% |
| Financial income75/76B | €121 | €399 | €742 | €426 | €79 | ▼ 81.4% |
| Recurring financial income75 | €121 | €399 | €742 | €426 | €79 | ▼ 81.4% |
| Financial charges65/66B | €941 | €2,633 | €1,613 | €1,240 | €4,422 | ▲ 257% |
| Recurring financial charges65 | €941 | €2,633 | €1,613 | €1,240 | €4,422 | ▲ 257% |
| Profit (loss) for the period before taxes9903 | -€13,827 | -€26,321 | €10,469 | -€38,848 | €78,323 | ▲ 302% |
| Income taxes67/77 | - | €383 | €134 | €237 | €5,161 | ▲ 2,074% |
| Profit (loss) for the period9904 | -€13,827 | -€26,705 | €10,335 | -€39,086 | €73,162 | ▲ 287% |
| Profit (loss) for the period to be appropriated9905 | -€13,827 | -€26,705 | €10,335 | -€39,086 | €73,162 | ▲ 287% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117,078 | €47,000 | €62,528 | €210,964 | €119,556 | ▼ 43.3% |
| Fixed assets21/28 | - | - | - | - | €10,489 | - |
| Tangible fixed assets22/27 | - | - | - | - | €10,489 | - |
| Furniture and vehicles24 | - | - | - | - | €10,489 | - |
| Current assets29/58 | €117,078 | €47,000 | €62,528 | €210,964 | €109,067 | ▼ 48.3% |
| Stocks and contracts in progress3 | €57,755 | - | - | - | - | - |
| Stocks30/36 | €57,755 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €2,086 | €4,214 | €90 | €2,661 | €44,896 | ▲ 1,587% |
| Trade receivables40 | €1,888 | €3,812 | - | €2,557 | €40,828 | ▲ 1,497% |
| Other amounts receivable41 | €198 | €402 | €90 | €104 | €4,068 | ▲ 3,807% |
| Cash at bank and in hand54/58 | €55,921 | €40,981 | €60,476 | €207,080 | €63,788 | ▼ 69.2% |
| Deferred charges and accrued income490/1 | €1,317 | €1,805 | €1,963 | €1,223 | €383 | ▼ 68.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117,078 | €47,000 | €62,528 | €210,964 | €119,556 | ▼ 43.3% |
| Equity10/15 | -€3,827 | -€30,532 | -€20,197 | -€59,283 | €13,879 | ▲ 123% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€13,827 | -€40,532 | -€30,197 | -€69,283 | €3,879 | ▲ 106% |
| Amounts payable17/49 | €120,905 | €77,532 | €82,726 | €270,247 | €105,677 | ▼ 60.9% |
| Amounts payable after more than one year17 | €44,965 | €44,965 | €44,020 | €44,965 | €4,965 | ▼ 89.0% |
| Financial debts170/4 | €44,965 | €44,965 | €44,020 | €44,965 | €4,965 | ▼ 89.0% |
| Amounts payable within one year42/48 | €75,407 | €23,310 | €28,848 | €219,728 | €93,367 | ▼ 57.5% |
| Financial debts43 | €8 | - | - | - | €179 | - |
| Credit institutions430/8 | €8 | - | - | - | €179 | - |
| Trade debts44 | €247 | €6,638 | €3,327 | €6,213 | €3,337 | ▼ 46.3% |
| Suppliers440/4 | €247 | €6,638 | €3,327 | €6,213 | €3,337 | ▼ 46.3% |
| Advances received on contracts in progress46 | €62,946 | - | - | €200,000 | - | - |
| Taxes, remuneration and social security45 | €7,767 | €4,816 | €9,751 | €4,527 | €8,587 | ▲ 89.7% |
| Taxes450/3 | €7,767 | €4,816 | €9,751 | €4,527 | €8,587 | ▲ 89.7% |
| Other amounts payable47/48 | €4,440 | €11,856 | €15,769 | €8,988 | €81,264 | ▲ 804% |
| Accrued charges and deferred income492/3 | €533 | €9,256 | €9,858 | €5,554 | €7,345 | ▲ 32.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,827 | -€26,705 | €10,335 | -€39,086 | €73,162 | ▲ 287% |
| + Depreciation and write-downs630 | - | - | - | - | €1,019 | - |
| Operating cash flow (approximation) | -€13,827 | -€26,705 | €10,335 | -€39,086 | €74,181 | ▲ 290% |
| Change in cash | - | -€14,939 | €19,494 | €146,604 | -€143,292 | ▼ 198% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Back to profitnet €73,162
Net result €73,162 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€39,086
Net result drops to -€39,086, the lowest in the series; recovery starts the following year.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2023
31-12
Financial
Back to profitnet €10,335
Net result €10,335 after 2 loss-making years.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tubize · 1 establishment unit since 2020
Ground area
742 m²
Building footprint
103 m²
Volume, LiDAR
610 m³
Parcel 25097C0217/00H003, Wallonia · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Couture du Moulin 11, 1480 Tubize
since 20202.306.954.463
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25097C0217/00H003 | Wallonia | 742 m² | 1 · 103 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 26,621 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0753769083
Also
9925:BE0753769083
Registered
28-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.