Spapen BV
ActiveThe computed 12-month bankruptcy probability of Spapen BV is 2.4% (moderate). The annual accounts of Spapen BV for fiscal year 2025 show a net loss of 57% of the equity at the start of that year. The 2025 annual accounts show equity of €12k and a net result of €-16k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 7331 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
30
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability10▼-20
Solvency30▼-29
Growth52=
Track record94
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.14 against 1.02 in 2024; short-term debt: 94.5% and cash: 10% of total assets), and 94.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
5.5%
Return on assets
-7.3%
Age of the figures
12 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
22232425
2022 to 2025 · latest year €-16k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 7331 sector peers (2025).
NBB · sector comparisonPosition among 7331 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-01-2026, 112 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
112 d early
2024
30 d late
2023
30 d late
2022
31 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€12k▼ 57.2%
2024 · €28k
2022: €10k
2023: €30k
2024: €28k
2022 → 2025
Total assets
€216k▲ 163%
2024 · €82k
2022: €62k
2023: €89k
2024: €82k
2022 → 2025
Net result
€-16k▼ 539%
2024 · €-2k
2022: €8k
2023: €20k
2024: €-2k
2022 → 2025
Working capital
€-176k
2024 · €1k
2022: €-16k
2023: €4k
2024: €1k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€10k-€30k▲ 194%€28k▼ 8.2%€12k▼ 57.2%
Operating result€11k-€25k▲ 126%€-2k€-8k▼ 259%
Net result€8k-€20k▲ 141%€-2k€-16k▼ 539%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2025 against €2k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €216k
Fixed assets
€188k▲ 614%
Current assets
€28k▼ 49.5%
Equity and liabilities €216k
Equity
€12k▼ 57.2%
Debt
€204k▲ 275%
The debt ratio rises from 66.3% to 94.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-6k
Cash flow
€-13k
Solvency
5.5%▼
2024 · 33.7%
Current ratio
0.14▼
2024 · 1.02
Quick ratio
0.14▼
2024 · 0.38
Debt / equity
17.28▲
2024 · 1.97
ROE
-133.9%▼
2024 · -9.0%
ROA
-7.3%▼
2024 · -3.0%
Interest coverage
-0.76
Debt
€204k▲
2024 · €55k
Debt ≤ 1 year
€204k▲
2024 · €55k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€82k€216k▲
Fixed assets21/28€26k€188k▲
Tangible fixed assets22/27€26k€188k▲
Land and buildings22€26k€188k▲
Financial fixed assets28€325-
Current assets29/58€56k€28k▼
Stocks and contracts in progress3€35k€0▼
Stocks30/36€35k€0▼
Amounts receivable within one year40/41-€7k
Other amounts receivable41-€7k
Cash at bank and in hand54/58€21k€22k▲
Equity and liabilities
Total equity and liabilities10/49€82k€216k▲
Equity10/15€28k€12k▼
Contributions10/11€2k€2k=
Reserves13-€10k
Distributable reserves133-€10k
Profit (loss) carried forward14€26k€0▼
Amounts payable17/49€55k€204k▲
Amounts payable within one year42/48€55k€204k▲
Trade debts44€10k€468▼
Suppliers440/4€10k€468▼
Taxes, remuneration and social security45€6k€25k▲
Taxes450/3€6k€25k▲
Other amounts payable47/48€38k€179k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k
Other operating charges640/8€236€448▲
Non-recurring operating charges66A€0€7k▲
Gross operating margin9900€-2k€2k▲
Operating profit (loss)9901€-2k€-8k▼
Financial income75/76B€0€118▲
Recurring financial income75€0€118▲
Financial charges65/66B€163€8k▲
Recurring financial charges65€163€8k▲
Profit (loss) for the period before taxes9903€-2k€-16k▼
Profit (loss) for the period9904€-2k€-16k▼
Profit (loss) for the period to be appropriated9905€-2k€-16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€26k€10k▼
Profit (loss) brought forward from the previous period14P€28k€26k▼
Transfer to equity691/2-€10k
To other reserves6921-€10k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-16k
Net result drops to €-16k, the lowest in the series.
30-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-09
Financial
Highest result since 2022net €20k ▲141%
Operating result €25k, net result €20k, both a record.
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Geel · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Turnhoutseweg 22440 GeelGround area
3,772 m²
Building footprint
209 m²
Volume, LiDAR
1,485 m³
Parcel 13372B0669/00W003, Flanders · tallest building 22.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Spapen BV
since 20212.324.562.438
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13372B0669/00W003 | Flanders | 3,772 m² | 1 · 209 m² | 22.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 29,808 companies in sector 41001 we hold annual accounts for 16,033. 9,886 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-06-2021
Fiscal year end30-09
Activities, NACEBEL
41001General construction of residential buildings
43910Bricklaying and masonry work
43994Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:stefspapen@hotmail.com
E-mail:jan@js-dakplaten.be