SPAX Projects
ActiveSummary
The computed 12-month bankruptcy probability of SPAX Projects is 3.1% (moderate). The 2025 annual accounts show equity of €9,529 and a net result of €13. Equity is growing by ~16.6% per year across the filed fiscal years. Its solvency ranks better than 51% of 11502 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 4 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Peer companies
Historical observationOf the 2,549 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 3.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 2,549 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.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €600 | €622 | €1,150 | ▲ 84.8% |
| Other operating charges640/8 | - | €20 | €21 | €429 | ▲ 1,987% |
| Gross operating margin9900 | -€2,584 | -€2,907 | €8,025 | €1,689 | ▼ 79.0% |
| Operating profit (loss)9901 | -€2,584 | -€3,527 | €7,382 | €110 | ▼ 98.5% |
| Financial income75/76B | - | €45 | €52 | €714 | ▲ 1,283% |
| Recurring financial income75 | - | €45 | €52 | €714 | ▲ 1,283% |
| Financial charges65/66B | €50 | €288 | €111 | €631 | ▲ 468% |
| Recurring financial charges65 | €50 | €288 | €111 | €631 | ▲ 468% |
| Profit (loss) for the period before taxes9903 | -€2,634 | -€3,770 | €7,323 | €194 | ▼ 97.4% |
| Income taxes67/77 | - | - | €403 | €180 | ▼ 55.3% |
| Profit (loss) for the period9904 | -€2,634 | -€3,770 | €6,920 | €13 | ▼ 99.8% |
| Profit (loss) for the period to be appropriated9905 | -€2,634 | -€3,770 | €6,920 | €13 | ▼ 99.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €8,950 | €9,926 | €16,765 | €21,849 | ▲ 30.3% |
| Fixed assets21/28 | - | €1,200 | €1,768 | €1,640 | ▼ 7.2% |
| Tangible fixed assets22/27 | - | €1,200 | €1,768 | €1,640 | ▼ 7.2% |
| Furniture and vehicles24 | - | €1,200 | €1,768 | €1,640 | ▼ 7.2% |
| Current assets29/58 | €8,950 | €8,726 | €14,997 | €20,209 | ▲ 34.7% |
| Stocks and contracts in progress3 | - | - | €1,690 | €2,184 | ▲ 29.2% |
| Stocks30/36 | - | - | €1,690 | €2,184 | ▲ 29.2% |
| Amounts receivable within one year40/41 | €1,908 | €2,781 | €337 | €69 | ▼ 79.4% |
| Trade receivables40 | €1,908 | €2,781 | €337 | €69 | ▼ 79.4% |
| Cash at bank and in hand54/58 | €7,043 | €5,799 | €12,846 | €9,143 | ▼ 28.8% |
| Deferred charges and accrued income490/1 | - | €146 | €124 | €8,813 | ▲ 7,009% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €8,950 | €9,926 | €16,765 | €21,849 | ▲ 30.3% |
| Equity10/15 | €6,366 | €2,596 | €9,516 | €9,529 | ▲ 0.1% |
| Contributions10/11 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Profit (loss) carried forward14 | -€2,634 | -€6,404 | €516 | €529 | ▲ 2.6% |
| Amounts payable17/49 | €2,584 | €7,330 | €7,250 | €12,320 | ▲ 69.9% |
| Amounts payable within one year42/48 | €2,584 | €7,330 | €6,450 | €11,112 | ▲ 72.3% |
| Trade debts44 | €2,584 | €3,888 | - | €228 | - |
| Suppliers440/4 | €2,584 | €3,888 | - | €228 | - |
| Taxes, remuneration and social security45 | - | €171 | €658 | €1,123 | ▲ 70.8% |
| Taxes450/3 | - | €171 | €658 | €1,123 | ▲ 70.8% |
| Other amounts payable47/48 | - | €3,271 | €5,792 | €9,761 | ▲ 68.5% |
| Accrued charges and deferred income492/3 | - | - | €800 | €1,208 | ▲ 51.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,634 | -€3,770 | €6,920 | €13 | ▼ 99.8% |
| + Depreciation and write-downs630 | - | €600 | €622 | €1,150 | ▲ 84.8% |
| Operating cash flow (approximation) | -€2,634 | -€3,170 | €7,542 | €1,163 | ▼ 84.6% |
| Investment in fixed assets (approximation) | - | - | -€1,190 | -€1,022 | ▲ 14.1% |
| Change in cash | - | -€1,243 | €7,047 | -€3,703 | ▼ 153% |
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
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0003/00V018 | Brussels | 474 m² | 1 · 323 m² | 30.2 m · 8 fl. |
Linked by address, not proof of ownership
Similar companies · same sector, comparable size
Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.