SPANORAMA
ActiveSummary
SPANORAMA has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €73,631. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 49% of 7868 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▼-10
Solvency68▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity ample (current ratio 3.07 against 4.35 in 2024; short-term debt: 12.9% and cash: 20.7% of total assets), but 56.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
43.5%
Return on assets
2.9%
Age of the figures
9 mo
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
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 03-07-2026, 28 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
28 d early
2024
30 d early
2023
34 d early
2022
73 d early
2021
30 d late
2020
23 d late
2019
7 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 company by equity in Hooglede, Construction sector#6 company by total assets in Hooglede, Construction sector
Equity
€1.1m▲ 7.3%
2024 · €1.0m
Total assets
€2.5m▲ 16.5%
2024 · €2.1m
Net result
€73,631▼ 12.2%
2024 · €83,874
Working capital
€665,765▼ 5.2%
2024 · €702,091
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€224,240▼ 37.2%€272,886▲ 21.7%€259,826▼ 4.8%€116,548▼ 55.1%€137,296▲ 17.8%
Net result€169,777▼ 37.5%€205,366▲ 21.0%€190,000▼ 7.5%€83,874▼ 55.9%€73,631▼ 12.2%
Equity€632,884▲ 36.7%€738,250▲ 16.6%€928,250▲ 25.7%€1.0m▲ 9.0%€1.1m▲ 7.3%
Total assets€907,433▲ 25.2%€1.3m▲ 40.7%€1.2m▼ 7.5%€2.1m▲ 81.6%€2.5m▲ 16.5%
Debt€274,549▲ 5.0%€538,124▲ 96.0%€252,389▼ 53.1%€1.1m▲ 349%€1.4m▲ 24.8%
Working capital€624,222▲ 34.3%€868,275▲ 39.1%€917,827▲ 5.7%€702,091▼ 23.5%€665,765▼ 5.2%
Staff (FTE)6.3▲ 61.5%6.3=8.1▲ 28.6%9.5▲ 17.3%8.5▼ 10.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 18% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.5m
Fixed assets
€1.5m ▲ 22.6%
Current assets
€987,460 ▲ 8.3%
Equity and liabilities €2.5m
Equity
€1.1m ▲ 7.3%
Debt
€1.4m ▲ 24.8%
Debt's share of the balance-sheet total rises from 52.8% to 56.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€197,884▲
2024 · €157,475
Cash flow
€134,219▲
2024 · €124,801
Current ratio
3.07▼
2024 · 4.35
Quick ratio
2.69▼
2024 · 3.43
Debt to equity
1.30▲
2024 · 1.12
ROE
6.8%▼
2024 · 8.3%
ROA
2.9%▼
2024 · 3.9%
Interest coverage
5.04▼
2024 · 6.55
Debt ≤ 1 year
€321,696▲
2024 · €209,380
Debt > 1 year
€1.1m▲
2024 · €922,977
Income taxes
€25,709▲
2024 · €9,449
Staff costs
€545,569▼
2024 · €590,127
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €30,059 | €3,500 | - | - |
| Remuneration, social security and pensions62 | €357,068 | €362,877 | €551,358 | €590,127 | €545,569 | ▼ 7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,841 | €15,491 | €10,980 | €40,927 | €60,588 | ▲ 48.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €9,977 | - | - | - | - |
| Other operating charges640/8 | €15,709 | €10,074 | €20,557 | €16,526 | €6,546 | ▼ 60.4% |
| Gross operating margin9900 | €600,858 | €671,305 | €842,721 | €764,128 | €749,999 | ▼ 1.8% |
| Operating profit (loss)9901 | €224,240 | €272,886 | €259,826 | €116,548 | €137,296 | ▲ 17.8% |
| Financial income75/76B | €1,834 | €231 | €440 | €819 | €1,327 | ▲ 62.0% |
| Recurring financial income75 | €1,834 | €231 | €440 | €819 | €1,327 | ▲ 62.0% |
| Financial charges65/66B | €3,029 | €2,488 | €2,025 | €24,044 | €39,284 | ▲ 63.4% |
| Recurring financial charges65 | €3,029 | €2,488 | €2,025 | €24,044 | €39,284 | ▲ 63.4% |
| Profit (loss) for the period before taxes9903 | €223,045 | €270,629 | €258,240 | €93,323 | €99,339 | ▲ 6.4% |
| Income taxes67/77 | €53,267 | €65,263 | €68,240 | €9,449 | €25,709 | ▲ 172% |
| Profit (loss) for the period9904 | €169,777 | €205,366 | €190,000 | €83,874 | €73,631 | ▼ 12.2% |
| Profit (loss) for the period to be appropriated9905 | €169,777 | €205,366 | €190,000 | €83,874 | €73,631 | ▼ 12.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €907,433 | €1.3m | €1.2m | €2.1m | €2.5m | ▲ 16.5% |
| Formation expenses20 | €462 | €193 | €0 | - | - | - |
| Fixed assets21/28 | €8,200 | €9,677 | €10,423 | €1.2m | €1.5m | ▲ 22.6% |
| Intangible fixed assets21 | - | - | - | - | €14,520 | - |
| Tangible fixed assets22/27 | €8,200 | €9,677 | €10,423 | €1.2m | €1.5m | ▲ 19.4% |
| Land and buildings22 | - | - | - | €1.2m | €1.3m | ▲ 9.4% |
| Plant, machinery and equipment23 | €3,340 | €2,297 | €1,330 | €17,380 | €144,165 | ▲ 729% |
| Furniture and vehicles24 | €4,860 | €7,381 | €9,093 | €15,151 | €15,406 | ▲ 1.7% |
| Financial fixed assets28 | - | - | - | - | €24,000 | - |
| Current assets29/58 | €898,772 | €1.3m | €1.2m | €911,472 | €987,460 | ▲ 8.3% |
| Amounts receivable after more than one year29 | - | €4,396 | €1,667 | - | - | - |
| Other amounts receivable291 | - | €4,396 | €1,667 | - | - | - |
| Stocks and contracts in progress3 | €87,052 | €472,736 | €274,355 | €193,179 | €120,895 | ▼ 37.4% |
| Stocks30/36 | €87,052 | €374,904 | €274,355 | €193,179 | €120,895 | ▼ 37.4% |
| Contracts in progress37 | - | €97,833 | - | - | - | - |
| Amounts receivable within one year40/41 | €306,209 | €386,429 | €612,863 | €234,999 | €335,638 | ▲ 42.8% |
| Trade receivables40 | €271,639 | €323,452 | €461,372 | €132,271 | €289,010 | ▲ 118% |
| Other amounts receivable41 | €34,570 | €62,976 | €151,491 | €102,728 | €46,628 | ▼ 54.6% |
| Cash at bank and in hand54/58 | €488,238 | €389,257 | €261,201 | €466,311 | €516,131 | ▲ 10.7% |
| Deferred charges and accrued income490/1 | €17,273 | €13,685 | €20,129 | €16,983 | €14,797 | ▼ 12.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €907,433 | €1.3m | €1.2m | €2.1m | €2.5m | ▲ 16.5% |
| Equity10/15 | €632,884 | €738,250 | €928,250 | €1.0m | €1.1m | ▲ 7.3% |
| Contributions10/11 | €60,000 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Reserves13 | €572,884 | €678,250 | €868,250 | €952,124 | €1.0m | ▲ 7.7% |
| Distributable reserves133 | €572,884 | €678,250 | €868,250 | €952,124 | €1.0m | ▲ 7.7% |
| Amounts payable17/49 | €274,549 | €538,124 | €252,389 | €1.1m | €1.4m | ▲ 24.8% |
| Amounts payable after more than one year17 | - | - | - | €922,977 | €1.1m | ▲ 18.2% |
| Financial debts170/4 | - | - | - | €922,977 | €1.1m | ▲ 18.2% |
| Amounts payable within one year42/48 | €274,549 | €398,229 | €252,389 | €209,380 | €321,696 | ▲ 53.6% |
| Current portion of amounts payable after more than one year42 | €53,533 | €756 | €756 | €43,620 | €66,647 | ▲ 52.8% |
| Trade debts44 | €175,195 | €233,178 | €196,077 | €99,470 | €192,896 | ▲ 93.9% |
| Suppliers440/4 | €175,195 | €233,178 | €196,077 | €99,470 | €192,896 | ▲ 93.9% |
| Taxes, remuneration and social security45 | €32,973 | €53,776 | €52,950 | €63,266 | €58,349 | ▼ 7.8% |
| Taxes450/3 | €18,681 | €24,013 | €8,075 | €8,462 | €9,119 | ▲ 7.8% |
| Remuneration and social security454/9 | €14,292 | €29,763 | €44,874 | €54,804 | €49,231 | ▼ 10.2% |
| Other amounts payable47/48 | €12,847 | €110,520 | €2,606 | €3,024 | €3,803 | ▲ 25.8% |
| Accrued charges and deferred income492/3 | - | €139,895 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €169,777 | €205,366 | €190,000 | €83,874 | €73,631 | ▼ 12.2% |
| + Depreciation and write-downs630 | €3,841 | €15,491 | €10,980 | €40,927 | €60,588 | ▲ 48.0% |
| Operating cash flow (approximation) | €173,618 | €220,858 | €200,981 | €124,801 | €134,219 | ▲ 7.5% |
| Investment in fixed assets (approximation) | - | -€16,969 | -€11,727 | -€1.3m | -€338,813 | ▲ 73.2% |
| Change in cash | - | -€98,981 | -€128,056 | €205,109 | €49,821 | ▼ 75.7% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €73,631 ▼12.2%
Net result drops to €73,631, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €1mEq €1.0m ▲9%
6 profitable years in a row build equity to €1.0m.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Equity above €500,000Eq €632,884 ▲36.7%
3 profitable years in a row build equity to €632,884.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
31-12
Financial
Highest result since 2019net €271,487 ▲106%
Operating result €357,267, net result €271,487, both a record.
31-12
Financial
Equity above €200,000Eq €463,106 ▲142%
2 profitable years in a row build equity to €463,106.
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Hooglede · 1 establishment unit since 2018
Ground area
5,963 m²
Building footprint
185 m²
Volume, LiDAR
25 m³
Parcel 36005B0621/00D000, Flanders · tallest building 4.1 m. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
SPANORAMA
since 20182.280.415.659
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36005B0621/00D000 | Flanders | 5,963 m² | 1 · 184 m² | 4.1 m |
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 7,300 companies in sector 43350 we hold annual accounts for 2,360. 863 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
Founded20-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.