Spacefwd
ActiveSummary
The computed 12-month bankruptcy probability of Spacefwd is 1.5% (moderate). The 2025 annual accounts show equity of €57,040 and a net result of €4,014. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 24% of 712 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability39▲+2
Solvency40▲+4
Growth52=
Track record94
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.56 against 1.57 in 2024; short-term debt: 63.9% and cash: 11.9% of total assets), but 85.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 712 sector peers (2025).
NBB · sector comparisonPosition among 712 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
on the day
2024
26 d late
2023
12 d early
2022
10 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€4,014▲ 477%
2024 · €695
Working capital
€138,545▼ 19.4%
2024 · €171,854
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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
Line2022202320242025
Operating result€51,235-€17,895▼ 65.1%€4,569▼ 74.5%€11,799▲ 158%
Net result€41,189within the sector's middle half-€10,141within the sector's middle half▼ 75.4%€695within the sector's middle half▼ 93.1%€4,014within the sector's middle half▲ 477%
Equity€42,189below the sector's middle half-€52,330within the sector's middle half▲ 24.0%€53,026within the sector's middle half▲ 1.3%€57,040below the sector's middle half▲ 7.6%
Total assets€172,763below the sector's middle half-€202,291below the sector's middle half▲ 17.1%€480,204within the sector's middle half▲ 137%€390,846below the sector's middle half▼ 18.6%
Debt€130,575-€149,960▲ 14.8%€427,178▲ 185%€333,807▼ 21.9%
Working capital€49,430-€106,732▲ 116%€171,854▲ 61.0%€138,545▼ 19.4%
Solvency24.4%within the sector's middle half-25.9%within the sector's middle half▲ 1.4pp11.0%below the sector's middle half▼ 14.8pp14.6%below the sector's middle half▲ 3.6pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 158% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €390,846
Fixed assets
€2,682 ▼ 42.5%
Current assets
€388,165 ▼ 18.4%
Equity and liabilities €390,846
Equity
€57,040 ▲ 7.6%
Debt
€333,807 ▼ 21.9%
Debt's share of the balance-sheet total falls from 89.0% to 85.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15,194▲
2024 · €7,294
Cash flow
€7,409▲
2024 · €3,421
Current ratio
1.56▼
2024 · 1.57
Debt to equity
5.85▼
2024 · 8.06
ROE
7.0%▲
2024 · 1.3%
ROA
1.0%▲
2024 · 0.1%
Interest coverage
2.33▲
2024 · 2.14
Debt ≤ 1 year
€249,620▼
2024 · €303,684
Debt > 1 year
€67,994▼
2024 · €103,048
Income taxes
€2,753▲
2024 · €472
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,270 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% 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 497,058 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% | 1.6% |
| 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 74% 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 3,270 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23 | €1,908 | €2,726 | €3,395 | ▲ 24.5% |
| Other operating charges640/8 | €498 | €530 | €567 | €391 | ▼ 31.0% |
| Gross operating margin9900 | €51,755 | €20,333 | €7,861 | €15,585 | ▲ 98.2% |
| Operating profit (loss)9901 | €51,235 | €17,895 | €4,569 | €11,799 | ▲ 158% |
| Financial income75/76B | €5,451 | €255 | €9 | €1,501 | ▲ 16,741% |
| Recurring financial income75 | €5,451 | €255 | €9 | €1,501 | ▲ 16,741% |
| Financial charges65/66B | €1,883 | €3,942 | €3,410 | €6,532 | ▲ 91.5% |
| Recurring financial charges65 | €1,883 | €3,942 | €3,410 | €6,532 | ▲ 91.5% |
| Profit (loss) for the period before taxes9903 | €54,803 | €14,208 | €1,167 | €6,767 | ▲ 480% |
| Income taxes67/77 | €13,614 | €4,067 | €472 | €2,753 | ▲ 483% |
| Profit (loss) for the period9904 | €41,189 | €10,141 | €695 | €4,014 | ▲ 477% |
| Profit (loss) for the period to be appropriated9905 | €41,189 | €10,141 | €695 | €4,014 | ▲ 477% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €172,763 | €202,291 | €480,204 | €390,846 | ▼ 18.6% |
| Fixed assets21/28 | €2,810 | €5,403 | €4,666 | €2,682 | ▼ 42.5% |
| Tangible fixed assets22/27 | €2,810 | €5,403 | €4,666 | €2,682 | ▼ 42.5% |
| Furniture and vehicles24 | €2,810 | €5,403 | €4,666 | €2,682 | ▼ 42.5% |
| Current assets29/58 | €169,953 | €196,888 | €475,538 | €388,165 | ▼ 18.4% |
| Amounts receivable within one year40/41 | €71,092 | €105,873 | €283,614 | €341,545 | ▲ 20.4% |
| Trade receivables40 | €42,796 | €65,766 | €210,429 | €261,016 | ▲ 24.0% |
| Other amounts receivable41 | €28,296 | €40,107 | €73,185 | €80,530 | ▲ 10.0% |
| Cash at bank and in hand54/58 | €98,861 | €40,903 | €191,750 | €46,619 | ▼ 75.7% |
| Deferred charges and accrued income490/1 | - | €50,112 | €173 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €172,763 | €202,291 | €480,204 | €390,846 | ▼ 18.6% |
| Equity10/15 | €42,189 | €52,330 | €53,026 | €57,040 | ▲ 7.6% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | €41,189 | €51,330 | €52,026 | €56,040 | ▲ 7.7% |
| Amounts payable17/49 | €130,575 | €149,960 | €427,178 | €333,807 | ▼ 21.9% |
| Amounts payable after more than one year17 | - | €46,586 | €103,048 | €67,994 | ▼ 34.0% |
| Financial debts170/4 | - | €46,586 | €103,048 | €67,994 | ▼ 34.0% |
| Amounts payable within one year42/48 | €120,523 | €90,155 | €303,684 | €249,620 | ▼ 17.8% |
| Current portion of amounts payable after more than one year42 | - | €14,720 | €34,559 | €35,054 | ▲ 1.4% |
| Trade debts44 | €102,856 | €70,171 | €267,233 | €173,301 | ▼ 35.1% |
| Suppliers440/4 | €102,856 | €70,171 | €267,233 | €173,301 | ▼ 35.1% |
| Taxes, remuneration and social security45 | €13,867 | €4,067 | €472 | €29,777 | ▲ 6,210% |
| Taxes450/3 | €13,867 | €4,067 | €472 | €29,777 | ▲ 6,210% |
| Other amounts payable47/48 | €3,799 | €1,198 | €1,420 | €11,488 | ▲ 709% |
| Accrued charges and deferred income492/3 | €10,052 | €13,219 | €20,446 | €16,193 | ▼ 20.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,189 | €10,141 | €695 | €4,014 | ▲ 477% |
| + Depreciation and write-downs630 | €23 | €1,908 | €2,726 | €3,395 | ▲ 24.5% |
| Operating cash flow (approximation) | €41,211 | €12,049 | €3,421 | €7,409 | ▲ 117% |
| Investment in fixed assets (approximation) | - | -€4,500 | -€1,988 | -€1,411 | ▲ 29.1% |
| Change in cash | - | -€57,958 | €150,848 | -€145,131 | ▼ 196% |
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
23-09
State Gazette act
Resignations: Emilien Eloy, Corin Cole and Florent DauvisterAppointments: Florent Dauvister, GP CREATIVE BV and 2 others · Permanent representatives: Gary Peeters and Birger De Geyter · Director discharge21 facts ▸
State Gazette act
Resignations: Emilien Eloy, Corin Cole and Florent Dauvister
Appointments: Florent Dauvister, GP CREATIVE BV and 2 others · Permanent representatives: Gary Peeters and Birger De Geyter · Director discharge21 facts ▸
- General meeting, 23-07-2026
- Director resignation, Emilien Eloy (director)
- Director resignation, Corin Cole (director)
- Director discharge, Emilien Eloy (director)
- Director discharge, Corin Cole (director)
- Director appointment, Florent Dauvister (director)
- Director appointment, GP CREATIVE BV (director)
- Director appointment, Dynamic eSports Comm.V (director)
- Permanent representative, Gary Peeters (permanent representative)
- Permanent representative, Birger De Geyter (permanent representative)
- Board composition, Florent Dauvister (director)
- Board composition, GP CREATIVE BV (director)
- +9 further facts in this act
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
26-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 26 days late
31-03
Financial
Weakest financial yearnet €695 ▼93.1%
Net result drops to €695, the lowest in the series; recovery starts the following year.
2023
19-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
10-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 10 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Board 2
Dynamic eSports Comm. V.
CurrentDirector · since 23-07-2026 · Limited partnership · perm. rep.: Birger De Geyter
GP Creative
CurrentDirector · since 23-07-2026 · Private limited company · perm. rep.: Gary Peeters
Permanent representatives 2
Birger De Geyter
CurrentPermanent representative · since 23-07-2026 · for Dynamic eSports Comm. V.
Gary Peeters
CurrentPermanent representative · since 23-07-2026 · for GP Creative
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Pont-à-Celles · 1 establishment unit since 2021
Ground area
684 m²
Building footprint
84 m²
Parcel 52067A0175/00R000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Spacefwd
since 20212.319.142.910
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52067A0175/00R000 | Wallonia | 684 m² | 1 · 84 m² | - |
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.
Mandate history
5 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Dynamic eSports Comm. V. |
|
| GP Creative |
|
| Corin Cole |
|
| Emilien Eloy |
|
| Florent Dauvister |
|
Structure & network
Connections & network
2 connected companiesThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
n11s
Shared corporate director
→
Spacefwd Benelux
Shared corporate director
→
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Of 9,864 companies in sector 73110 we hold annual accounts for 3,752. 3,015 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
Founded07-07-2021
Fiscal year end31-03
Activities, NACEBEL 2025
73110Advertising agencies
Contact
Website
www.spacefwd.com
E-mail
hello@spacefwd.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0770859196
Also
9925:BE0770859196
Registered
18-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.