SPACE 3
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 11-12-2025 PDF all 7 filings
Turnover
€155,136
2020 · €0
EBIT margin
-24.2%
Net result
-€51,315▲ 41.7%
2024 · -€88,091
Working capital
-€19,310▲ 39.9%
2024 · -€32,134
Multi-year overview
2018 to 2025, 7 financial yearsTurnover
€155,136
2025
20182025
Operating result
-€37,590
▲ 48.5%
2025
20182025
Net result
-€51,315
▲ 41.7%
2025
20182025
EBIT margin
-24.2%
2025
20182025
Equity
€159,487
▼ 24.3%
2025
20182025
Total assets
€1.8m
▲ 7.8%
2025
20182025
Debt
€1.6m
▲ 12.5%
2025
20182025
Working capital
-€19,310
▲ 39.9%
2025
20182025
Staff (FTE)
0.3
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202022202320242025
Turnover€0-€0€0€0.2m
Operating result€0.02m-€0.03m▲ 38.3%€0.02m▼ 47.5%€0.04m--€0.05m-€0.07m▼ 47.3%-€0.04m▲ 48.5%
Net result€0.009m-€0.02m▲ 109%€0.01m▼ 40.3%€0.01m--€0.09m-€0.09m▼ 0.2%-€0.05m▲ 41.7%
EBIT margin-24.2%
Equity€0.02m-€0.04m▲ 89.3%€0.05m▲ 28.2%€0.06m-€0.3m▲ 361%€0.2m▼ 28.0%€0.2m▼ 24.3%
Total assets€0.2m-€0.2m▲ 11.3%€0.3m▲ 56.3%€1.5m-€1.5m▲ 5.8%€1.7m▲ 7.9%€1.8m▲ 7.8%
Debt€0.2m-€0.2m▲ 0.7%€0.3m▲ 63.6%€1.4m-€1.2m▼ 10.4%€1.5m▲ 16.4%€1.6m▲ 12.5%
Working capital€0.02m-€0.03m▲ 18.1%-€0.009m-€0.07m--€0.02m▲ 63.3%-€0.03m▼ 34.5%-€0.02m▲ 39.9%
Staff (FTE)0.2-1.9▲ 850%2.2▲ 15.8%1.8-0.3
The operating result for 2025 is a loss of €37,590, smaller than the loss of €73,050 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.7m ▲ 11.1%
Current assets
€42,902 ▼ 50.6%
Equity and liabilities €1.8m
Equity
€159,487 ▼ 24.3%
Debt
€1.6m ▲ 12.5%
Debt's share of the balance-sheet total rises from 87.3% to 91.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€102,944▲
2024 · €47,855
Cash flow
€89,219▲
2024 · €32,815
Current ratio
0.69▼
2024 · 0.73
Debt to equity
10.24▲
2024 · 6.88
ROE
-32.2%▲
2024 · -41.8%
ROA
-2.9%▲
2024 · -5.3%
Interest coverage
7.50▲
2024 · 3.18
Debt ≤ 1 year
€62,212▼
2024 · €119,025
Debt > 1 year
€1.6m▲
2024 · €1.3m
Customer credit
2 days
Supplier credit
7 days
Staff costs
€3,408
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 0 | 1 |
| full-time | 1 | 0 | - |
| part-time | - | 0 | 1 |
| in full-time equivalents | 1 | - | 0.6 |
| Average over the year, in full-time equivalents | 1.8 | - | 0.3 |
| Joined | 2 | - | 1 |
| Left | 3 | - | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Overdue debts
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Overdue tax debts | - | - | - | €2,638 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €887,057 | €842,150 |
| Mortgages, amount registered | - | - | €250,000 | €250,000 |
| Mortgage mandates | - | - | €750,000 | €750,000 |
| Carrying value of the mortgaged assets | - | - | €941,678 | €1.1m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1.4m | €15,902 | €275,449 | €324,023 |
| Financial fixed assets | €200 | - | €60 | €87 |
| Depreciation and write-downs of the year | €152,912 | €135,296 | €120,905 | €140,534 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €0 | €0 | €0 | - | - | - | €155,136 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €41,387 | - |
| Remuneration, social security and pensions62 | - | - | - | €54,129 | -€963 | - | €3,408 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,238 | €22,338 | €33,843 | €152,912 | €135,296 | €120,905 | €140,534 | ▲ 16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €21,570 | - | - |
| Other operating charges640/8 | - | - | - | €9,497 | €9,963 | €1,980 | €2,290 | ▲ 15.7% |
| Non-recurring operating charges66A | - | - | - | €1,425 | - | €17,707 | €5,906 | ▼ 66.6% |
| Gross operating margin9900 | €110,093 | €100,893 | €90,056 | €253,814 | €94,710 | €89,112 | €114,547 | ▲ 28.5% |
| Operating profit (loss)9901 | €23,819 | €32,936 | €17,303 | €35,852 | -€49,585 | -€73,050 | -€37,590 | ▲ 48.5% |
| Financial income75/76B | - | - | - | - | - | €5 | €0 | ▼ 91.1% |
| Recurring financial income75 | €0 | €0 | €1,833 | - | - | €5 | €0 | ▼ 91.1% |
| Financial charges65/66B | - | - | - | €15,435 | €17,618 | €15,046 | €13,725 | ▼ 8.8% |
| Recurring financial charges65 | €3,890 | €4,009 | €4,506 | €15,435 | €17,618 | €15,046 | €13,722 | ▼ 8.8% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €3 | - |
| Profit (loss) for the period before taxes9903 | €18,897 | €28,927 | €14,630 | €20,417 | -€67,203 | -€88,091 | -€51,315 | ▲ 41.7% |
| Income taxes67/77 | €9,605 | €9,553 | €3,068 | €9,561 | €20,739 | - | - | - |
| Profit (loss) for the period9904 | €9,291 | €19,374 | €11,562 | €10,856 | -€87,942 | -€88,091 | -€51,315 | ▲ 41.7% |
| Profit (loss) for the period to be appropriated9905 | €9,291 | €19,374 | €11,562 | €10,856 | -€87,942 | -€88,091 | -€51,315 | ▲ 41.7% |
| Line | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.2m | €0.2m | €0.3m | €1.5m | €1.5m | €1.7m | €1.8m | ▲ 7.8% |
| Fixed assets21/28 | €0.1m | €0.09m | €0.2m | €1.4m | €1.5m | €1.6m | €1.7m | ▲ 11.1% |
| Tangible fixed assets22/27 | €0.1m | €0.09m | €0.2m | €1.4m | €1.5m | €1.6m | €1.7m | ▲ 11.1% |
| Land and buildings22 | - | - | - | €1.2m | €1.3m | €1.3m | €1.4m | ▲ 7.2% |
| Plant, machinery and equipment23 | - | - | - | €0.06m | €0.07m | €0.2m | €0.3m | ▲ 66.4% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 23.0% |
| Other tangible fixed assets26 | - | - | - | €0.006m | €0 | - | - | - |
| Financial fixed assets28 | €185 | €185 | €185 | €385 | €385 | €445 | €272 | ▼ 38.8% |
| Current assets29/58 | €0.08m | €0.1m | €0.1m | €0.09m | €0.07m | €0.09m | €0.04m | ▼ 50.6% |
| Amounts receivable after more than one year29 | - | - | - | €0 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €0.006m | €0.05m | €0.02m | €0.03m | €0.04m | €0.07m | €0.001m | ▼ 98.7% |
| Trade receivables40 | - | - | - | €0.02m | €0.04m | €0.07m | €0.001m | ▼ 98.7% |
| Other amounts receivable41 | - | - | - | €0.009m | €0 | €278 | - | - |
| Cash at bank and in hand54/58 | €0.03m | €0.02m | €0.06m | €0.05m | €0.03m | €0.02m | €0.04m | ▲ 125% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.004m | €0.002m | €0.002m | ▲ 4.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.2m | €0.2m | €0.3m | €1.5m | €1.5m | €1.7m | €1.8m | ▲ 7.8% |
| Equity10/15 | €0.02m | €0.04m | €0.05m | €0.06m | €0.3m | €0.2m | €0.2m | ▼ 24.3% |
| Contributions10/11 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | = |
| Capital10 | - | - | - | €0 | - | - | - | - |
| Issued capital100 | - | - | - | €0 | - | - | - | - |
| Uncalled capital101 | - | - | - | €0 | - | - | - | - |
| Contributions outside capital11 | - | - | - | €0.01m | - | - | - | - |
| Share premium1100/10 | - | - | - | €0 | - | - | - | - |
| Other1109/19 | - | - | - | €0.01m | - | - | - | - |
| Revaluation surpluses12 | - | - | - | - | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.007m | €0.007m | €0.04m | €0.05m | €0.05m | €0.07m | €0.07m | = |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - |
| Legal reserve130 | - | - | - | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.05m | €0.05m | €0.07m | €0.07m | = |
| Profit (loss) carried forward14 | €0.002m | €0.02m | €0.003m | €0.004m | -€0.08m | -€0.2m | -€0.2m | ▼ 29.9% |
| Amounts payable17/49 | €0.2m | €0.2m | €0.3m | €1.4m | €1.2m | €1.5m | €1.6m | ▲ 12.5% |
| Amounts payable after more than one year17 | €0.1m | €0.07m | €0.1m | €1.2m | €1.2m | €1.3m | €1.6m | ▲ 17.9% |
| Financial debts170/4 | - | - | - | €1.0m | €0.9m | €0.9m | €0.8m | ▼ 6.1% |
| Other amounts payable178/9 | - | - | - | €0.2m | €0.2m | €0.5m | €0.8m | ▲ 61.4% |
| Amounts payable within one year42/48 | €0.06m | €0.09m | €0.1m | €0.2m | €0.1m | €0.1m | €0.06m | ▼ 47.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.06m | €0.05m | €0.06m | ▲ 7.4% |
| Trade debts44 | €0.02m | €0.05m | €0.07m | €0.06m | €0.02m | €0.07m | €0.001m | ▼ 98.8% |
| Suppliers440/4 | - | - | - | €0.06m | €0.02m | €0.07m | €0.001m | ▼ 98.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | - | €0.004m | - |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | - | €0.003m | - |
| Remuneration and social security454/9 | - | - | - | €0.004m | €0 | - | €0.001m | - |
| Other amounts payable47/48 | - | - | - | €0 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €417 | €0 | €29 | €137 | ▲ 377% |
| Line | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,291 | €19,374 | €11,562 | €10,856 | -€87,942 | -€88,091 | -€51,315 | ▲ 41.7% |
| + Depreciation and write-downs630 | €39,238 | €22,338 | €33,843 | €152,912 | €135,296 | €120,905 | €140,534 | ▲ 16.2% |
| Operating cash flow (approximation) | €48,529 | €41,712 | €45,405 | €163,768 | €47,354 | €32,815 | €89,219 | ▲ 172% |
| Investment in fixed assets (approximation) | - | -€7,252 | -€146,133 | - | -€237,635 | -€227,512 | -€314,917 | ▼ 38.4% |
| Change in cash | - | -€6,503 | €40,692 | - | -€21,017 | -€12,500 | €22,155 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 849 companies had the same profile as SPACE 3 has now. Two years later, 91.9% were still going and 4.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a small loss
91.9%
was still going
3.3%
stopped otherwise
4.7%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SPACE 3 itself is lower: 0.5% within 12 months. It rests on far more data about SPACE 3 than the profile alone.
Test of the method
The method was tested on the 497,446 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 849 companies, not a prediction for SPACE 3. 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 11-12-2025 | 2025-00583652 | |
| 30-06-2024 | full format | 28-12-2024 | 2024-00627277 | |
| 30-06-2023 | micro format | 03-10-2023 | 2023-00466173 | |
| 30-06-2022 | micro format | 12-12-2022 | 2022-20535471 | |
| 31-12-2020 | micro format | 08-07-2021 | 2021-33200581 | |
| 31-12-2019 | micro format | 07-10-2020 | 2020-59800566 | |
| 31-12-2018 | micro format | 19-08-2019 | 2019-47300357 |