Equity
€8.8m ▼ 3.0%
SPACEBEL paid out €450,000 in dividends. That is 251% of the 2025 profit.
SPACEBEL
Lifetime
20 annual accounts with figures on one time axis, 37 filings since 1989peak €17.1m (2024)
€8.4m▼ 50.5%
lowest -€613,361 (2009)
€179,589▼ 66.0%
peak €9.1m (2024)
€8.8m▼ 3.0%
€30.7m▲ 17.4%
peak 57.6 FTE (2016)
56.3 FTE▲ 7.2%
Board17 names since 2019all names
2 directorsDU PRE Consult and 1 other
Owners8 names in the annual accountsall names
59.57%Wallonie Entreprendre and 1 other
Documentsfilings and deeds
02-06-202659 days before the deadline
2025financial year
Turnover from €17.1m to €8.4mResult from €528,227 to €179,5895 directors appointed, 7 resignations, 1 statutory auditor re… 22-07Dividend €450,000Debts from €26.2m to €30.7mCash from €244,275 to €1.2m
Key points
from the 2025 annual accountsResult
€179,589 ▼ 66.0%
The result fell in 2025 from €528,227 to €179,589.
Debts
€30.7m 78% of the balance sheet
Financial debts 1%Suppliers 7%Taxes and wages 4%Other 89%
Of this, €30.3m falls due within a year.
Payment terms
89 days to suppliers
SPACEBEL pays its suppliers 26 days later than in 2024. Customers pay 29 days later.
Filings
37 annual accounts since 1989
The last five annual accounts were filed 38 to 67 days before the end of the period.
Position in the sector
€8.8m
More equity than 86% of companies in computing infrastructure and information services. Sector median €904,349 · 224 companies.
Checked score
83
Excellent
Financially stronger than 22% of medium-sized companies in computing infrastructure and information services (NACE 63)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 37 companies (NACE 63, medium-sized).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.2%▼ -0.1 percentage points vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026lowest value
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.3%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 0.3%● unchanged vs 07-2026highest value
09-2026: 0.3%● unchanged vs 08-2026highest value
10-2026: 0.3%● unchanged vs 09-2026highest value
11-2026: 0.3%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.19, cash €1.2m
Equity €8.8m (22.2% of total assets)
Size: turnover €8.4m, 56.3 FTE, total assets €39.6m
lowers risk
Sector: Computing infrastructure, data processing, hosting and other information service activities (NACE 63)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 63, medium-sized). It does better than 30% of them on solvency, 8% on liquidity, 35% on profitability and 16% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 733 companies had the same profile as SPACEBEL has now. Each dot stands for 2 companies, two years later.
97.4%
were still trading
1.4%
stopped another way
1.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SPACEBEL itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,447 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 733 companies, not a prediction for SPACEBEL. 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.
Credit verdict
Credit of up to €700,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.19 (1.25 in 2024), below the usual 1.5. Short-term debt is 76.5% and cash 3% of total assets. 77.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 days early
2024
50 days early
2023
56 days early
2022
67 days early
2021
38 days early
2020
51 days early
2019
45 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 52 days before the deadline. In the sector (NACE 63), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 6 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Wallonie Entreprendre 59.57%equity €4.98bn (2025) · annual accounts 2025
- NOSHAQ 32.75%equity €212.1m (2025) · annual accounts 2025
Shares in 3 companies, including SPACEBEL SAS and SPACEBEL VLAANDEREN
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0435536532
5 directors appointed, 7 resignations, 1 statutory auditor reappointed
Appointments: SPARAXIS, NOSHAQ Partners, Jean-Michel D'Oultremont, DU PRE Consult (chair of the board) and ELMA Holding SRL · Permanent representatives: Colin Loyens, Dimitri Liquet, Thierry du Pré-Werson, Eric Lardinois, Emilie Van Calmont, Freddy Meurs and 1 other · Reappointment: EY, Réviseurs d'Entreprises SRL (statutory auditor) · General meeting of 20-05-2025 · Gazette deed
Amendment of the articles
General meeting of 06-11-2023 · Gazette deed
4 directors reappointed
NOSHAQ Partners, Wallonie Entreprendre, Jean-Michel D'Oultremont and Michel Praet · General meeting of 16-05-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SPACEBEL Liège | €8.4m | 1.7% | 22.2% | 56.3 |
| EURESYS Seraing | €19.2m | -1.5% | 67.9% | 62.9 |
| IRIS GROUP Evere | €10.3m | 1.7% | 56.5% | 45.2 |
| IPEX Tubize | €31.7m | 2.2% | 52.0% | 49.1 |
| IMAS Turnhout | €11.5m | 16.4% | 31.2% | 35 |
| ACTITO Ottignies-Louvain-la-Neuve | €17.1m | 0.6% | 41.4% | 55.6 |
| GraydonCreditsafe Belgium Antwerp | €20.2m | 8.1% | 31.4% | 56.9 |
Grey: the largest companies of the sector (computing infrastructure and information services (NACE 63)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as SPACEBEL: computing infrastructure, data processing, hosting and related activities (NACE 63100). They are comparable in size and age: total assets between €19m and €65m, founded between 1975 and 2000.
Official details
Source: KBO- Status
- Active since 29-09-1988Normal situation
- Activity
- Computing infrastructure, data processing, hosting and related activitiesNACE 63100and 1 other
- Establishment units
- 2.040.785.1764031 Liège, since 04-11-1988
- 2.040.785.0771560 Hoeilaart, since 21-11-1990
- Financial year end
- 31 December
- Peppol
- Reachable since 10-12-2025
Annual accounts 2025
- €39.6m▲ 11.8%
- Employeeson 31-12-2025
- 60▲ 9.1%
- Filing
- Filed on 02-06-2026, 59 days before the end of the filing period
Insights on SPACEBEL
SPACEBEL has existed since 1988. In 2021 turnover rose from €5.2m to €12.7m.
Wallonie Entreprendre holds 59.57% of the shares. In July 2025, seven directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about SPACEBEL
- What is the company number of SPACEBEL?
- The company number of SPACEBEL is 0435.536.532. The VAT number is the same number with BE in front: BE 0435.536.532.
- Where is SPACEBEL based?
- The registered office is at Rue des Chasseurs-Ardennais 6, 4031 Liège.Company details
- What does SPACEBEL do?
- According to the KBO register, the main activity is computing infrastructure, data processing, hosting and related activities (NACE 63100).
- What is the legal form of SPACEBEL?
- SPACEBEL is a public limited company (NV).
- When was SPACEBEL founded?
- SPACEBEL was founded on 29-09-1988.
- Is SPACEBEL still active?
- Yes, SPACEBEL is an active enterprise in the KBO register.
- How many employees does SPACEBEL have?
- SPACEBEL had an average of 56.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of SPACEBEL?
- The turnover of SPACEBEL was €8.4m in financial year 2025, according to the filed annual accounts.
- Is SPACEBEL profitable?
- In financial year 2025, SPACEBEL made a profit of €179,589.
- Where can I find the annual accounts of SPACEBEL?
- SPACEBEL filed 37 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of SPACEBEL due?
- SPACEBEL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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