SPANAM
ActiveSummary
SPANAM has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €92,418 and a net result of -€37,332. Equity is shrinking by ~17% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 48% of 4178 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability1▼-8
Solvency59▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.83 in 2024; short-term debt: 56.1% and cash: 33.4% of total assets), but 65.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.3%
Return on assets
-13.9%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€37,332
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
21 d late
2023
23 d late
2022
28 d late
2021
28 d late
2020
25 d late
2019
4 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 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
-€37,332▼ 46.6%
2024 · -€25,473
Working capital
€89,271▼ 33.6%
2024 · €134,433
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,175▼ 59.5%-€43,322▼ 372%-€22,207▲ 48.7%-€14,230▲ 35.9%-€22,345▼ 57.0%
Net result-€19,221▼ 27.3%-€54,080▼ 181%-€33,636▲ 37.8%-€25,473▲ 24.3%-€37,332▼ 46.6%
Equity€242,939▼ 7.3%€188,859▼ 22.3%€155,223▼ 17.8%€129,750▼ 16.4%€92,418▼ 28.8%
Total assets€371,149▼ 0.5%€287,555▼ 22.5%€311,533▲ 8.3%€327,693▲ 5.2%€269,377▼ 17.8%
Debt€128,210▲ 15.7%€98,696▼ 23.0%€156,310▲ 58.4%€197,943▲ 26.6%€176,960▼ 10.6%
Working capital€222,552▲ 7.8%€176,323▼ 20.8%€168,852▼ 4.2%€134,433▼ 20.4%€89,271▼ 33.6%
Staff (FTE)6.2▼ 6.1%6.3▲ 1.6%6.4▲ 1.6%6.1▼ 4.7%6.3▲ 3.3%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €22,345 in 2025 against €14,230 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €269,377
Fixed assets
€29,016 ▼ 1.0%
Current assets
€240,362 ▼ 19.0%
Equity and liabilities €269,377
Equity
€92,418 ▼ 28.8%
Debt
€176,960 ▼ 10.6%
Debt's share of the balance-sheet total rises from 60.4% to 65.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€18,239▼
2024 · -€11,567
Cash flow
-€33,227▼
2024 · -€22,810
Current ratio
1.59▼
2024 · 1.83
Quick ratio
0.72▼
2024 · 1.07
Debt to equity
1.91▲
2024 · 1.53
ROE
-40.4%▼
2024 · -19.6%
ROA
-13.9%▼
2024 · -7.8%
Interest coverage
-1.25▼
2024 · -1.02
Debt ≤ 1 year
€151,090▼
2024 · €162,420
Debt > 1 year
€25,869▲
2024 · €14,339
Income taxes
€810▲
2024 · €276
Staff costs
€224,845▼
2024 · €225,645
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €223,450 | €236,432 | €225,645 | €224,845 | ▼ 0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,565 | €27,565 | €4,862 | €2,663 | €4,105 | ▲ 54.2% |
| Other operating charges640/8 | - | €1,756 | €2,146 | €22,826 | €28,575 | ▲ 25.2% |
| Gross operating margin9900 | €213,603 | €209,449 | €221,233 | €236,904 | €235,181 | ▼ 0.7% |
| Operating profit (loss)9901 | -€9,175 | -€43,322 | -€22,207 | -€14,230 | -€22,345 | ▼ 57.0% |
| Financial income75/76B | - | €55 | €76 | €318 | €447 | ▲ 40.5% |
| Recurring financial income75 | €95 | €55 | €76 | €318 | €447 | ▲ 40.5% |
| Financial charges65/66B | - | €10,548 | €11,221 | €11,285 | €14,625 | ▲ 29.6% |
| Recurring financial charges65 | €9,805 | €10,548 | €11,221 | €11,285 | €14,625 | ▲ 29.6% |
| Profit (loss) for the period before taxes9903 | -€18,885 | -€53,815 | -€33,352 | -€25,197 | -€36,523 | ▼ 44.9% |
| Income taxes67/77 | €336 | €265 | €284 | €276 | €810 | ▲ 193% |
| Profit (loss) for the period9904 | -€19,221 | -€54,080 | -€33,636 | -€25,473 | -€37,332 | ▼ 46.6% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €16,048 | - |
| Profit (loss) for the period to be appropriated9905 | -€19,221 | -€54,080 | -€33,636 | -€25,473 | -€21,285 | ▲ 16.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €371,149 | €287,555 | €311,533 | €327,693 | €269,377 | ▼ 17.8% |
| Formation expenses20 | €0 | - | - | €1,533 | - | - |
| Fixed assets21/28 | €40,973 | €13,408 | €8,546 | €29,307 | €29,016 | ▼ 1.0% |
| Intangible fixed assets21 | - | - | - | - | €1,427 | - |
| Tangible fixed assets22/27 | €40,725 | €13,160 | €8,298 | €29,059 | €27,341 | ▼ 5.9% |
| Plant, machinery and equipment23 | - | €6,228 | €3,299 | €24,893 | €22,005 | ▼ 11.6% |
| Furniture and vehicles24 | - | €6,932 | €4,999 | €4,166 | €5,336 | ▲ 28.1% |
| Financial fixed assets28 | €248 | €248 | €248 | €248 | €248 | = |
| Current assets29/58 | €330,176 | €274,147 | €302,987 | €296,853 | €240,362 | ▼ 19.0% |
| Stocks and contracts in progress3 | €117,958 | €111,989 | €128,599 | €123,086 | €130,981 | ▲ 6.4% |
| Stocks30/36 | - | €111,989 | €128,599 | €123,086 | €130,981 | ▲ 6.4% |
| Amounts receivable within one year40/41 | €10,202 | €11,312 | €11,236 | €25,980 | €13,641 | ▼ 47.5% |
| Trade receivables40 | - | €9,710 | €10,411 | €16,660 | €12,693 | ▼ 23.8% |
| Other amounts receivable41 | - | €1,602 | €825 | €9,320 | €948 | ▼ 89.8% |
| Cash at bank and in hand54/58 | €200,286 | €148,355 | €158,635 | €146,751 | €90,054 | ▼ 38.6% |
| Deferred charges and accrued income490/1 | - | €2,491 | €4,517 | €1,036 | €5,685 | ▲ 449% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €371,149 | €287,555 | €311,533 | €327,693 | €269,377 | ▼ 17.8% |
| Equity10/15 | €242,939 | €188,859 | €155,223 | €129,750 | €92,418 | ▼ 28.8% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Capital10 | - | €25,000 | €25,000 | €25,000 | - | - |
| Issued capital100 | - | €25,000 | €25,000 | €25,000 | - | - |
| Outside capital11 | - | - | - | - | €25,000 | - |
| Other1109/19 | - | - | - | - | €25,000 | - |
| Reserves13 | €280,641 | €280,641 | €280,641 | €280,641 | €67,418 | ▼ 76.0% |
| Non-distributable reserves130/1 | - | €2,500 | €2,500 | €2,500 | - | - |
| Legal reserve130 | - | €2,500 | €2,500 | €2,500 | - | - |
| Tax-exempt reserves132 | - | €12,632 | €12,632 | €12,632 | - | - |
| Distributable reserves133 | - | €265,509 | €265,509 | €265,509 | €67,418 | ▼ 74.6% |
| Profit (loss) carried forward14 | -€62,702 | -€116,782 | -€150,418 | -€175,891 | - | - |
| Amounts payable17/49 | €128,210 | €98,696 | €156,310 | €197,943 | €176,960 | ▼ 10.6% |
| Amounts payable after more than one year17 | - | - | - | €14,339 | €25,869 | ▲ 80.4% |
| Financial debts170/4 | - | - | - | €14,339 | €25,869 | ▲ 80.4% |
| Amounts payable within one year42/48 | €107,624 | €97,824 | €134,135 | €162,420 | €151,090 | ▼ 7.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,084 | €8,469 | ▲ 4.8% |
| Trade debts44 | €65,861 | €70,828 | €101,608 | €112,937 | €116,473 | ▲ 3.1% |
| Suppliers440/4 | - | €70,828 | €101,608 | €112,937 | €116,473 | ▲ 3.1% |
| Taxes, remuneration and social security45 | - | €26,996 | €32,527 | €41,399 | €26,148 | ▼ 36.8% |
| Taxes450/3 | - | €1,151 | €997 | €522 | €151 | ▼ 71.0% |
| Remuneration and social security454/9 | - | €25,845 | €31,530 | €40,877 | €25,997 | ▼ 36.4% |
| Accrued charges and deferred income492/3 | - | €872 | €22,175 | €21,184 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,221 | -€54,080 | -€33,636 | -€25,473 | -€37,332 | ▼ 46.6% |
| + Depreciation and write-downs630 | €17,565 | €27,565 | €4,862 | €2,663 | €4,105 | ▲ 54.2% |
| Operating cash flow (approximation) | -€1,656 | -€26,515 | -€28,774 | -€22,810 | -€33,227 | ▼ 45.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€23,424 | -€3,814 | ▲ 83.7% |
| Change in cash | - | -€51,931 | €10,280 | -€11,884 | -€56,697 | ▼ 377% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
21-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 21 days late
2024
23-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 23 days late
2023
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
30-06
Financial
Weakest financial yearnet -€54,080
Net result drops to -€54,080, the lowest in the series; recovery starts the following year.
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 28 days late
2021
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
27-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
20-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
21-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
02-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 2 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, Namur · 1 establishment unit since 1993
Ground area
1,127 m²
Building footprint
428 m²
Volume, LiDAR
9,400 m³
Parcel 92094C0018/00M005, Wallonia · tallest building 24.1 m, ±7 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
SPAR
since 19932.063.932.643
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92094C0018/00M005 | Wallonia | 1,127 m² | 1 · 428 m² | 24.1 m · 7 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteNamur2.063.932.643
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,849. 4,652 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
Founded24-09-1993
Fiscal year end30-06
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47512Retail sale of household textiles and bedding
Scores and ratios are computed by Checked and are not a credit decision.