SPC
ActiveSummary
SPC has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35,604 and a net result of €12,805. Equity is growing by ~46.6% per year across the filed fiscal years. Its solvency ranks better than 59% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability98▼-2
Solvency90▲+24
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 2.69 against 1.75 in 2024; short-term debt: 35.1% and cash: 57.3% of total assets), and 35.1% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
64.9%
Return on assets
23.3%
Age of the figures
9 mo
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
29 d early
2023
29 d early
2022
31 d early
2021
30 d early
2020
25 d early
2019
21 d early
← 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 26 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€35,604▲ 52.6%
2024 · €23,327
Total assets
€54,894▼ 2.8%
2024 · €56,477
Net result
€12,805▼ 27.7%
2024 · €17,717
Working capital
€32,577▲ 34.7%
2024 · €24,177
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€19,320▲ 16.2%€4,661▼ 75.9%€43,653▲ 836%€28,827▼ 34.0%€21,955▼ 23.8%
Net result€15,716▲ 26.1%€1,659▼ 89.4%€37,727▲ 2,174%€17,717▼ 53.0%€12,805▼ 27.7%
Equity-€33,776▲ 31.8%-€32,117▲ 4.9%€5,610€23,327▲ 316%€35,604▲ 52.6%
Total assets€19,429▲ 171%€18,678▼ 3.9%€40,059▲ 114%€56,477▲ 41.0%€54,894▼ 2.8%
Debt€53,204▼ 6.1%€50,795▼ 4.5%€34,449▼ 32.2%€33,150▼ 3.8%€19,290▼ 41.8%
Working capital-€15,226▲ 51.3%-€13,811▲ 9.3%€5,460€24,177▲ 343%€32,577▲ 34.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €54,894
Fixed assets
€3,027
Current assets
€51,867
Equity and liabilities €54,894
Equity
€35,604 ▲ 52.6%
Debt
€19,290 ▼ 41.8%
Debt's share of the balance-sheet total falls from 58.7% to 35.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€22,425▼
2024 · €28,827
Cash flow
€13,274▼
2024 · €17,717
Current ratio
2.69▲
2024 · 1.75
Debt to equity
0.54▼
2024 · 1.42
ROE
36.0%▼
2024 · 76.0%
ROA
23.3%▼
2024 · 31.4%
Interest coverage
7.00▼
2024 · 8.60
Debt ≤ 1 year
€19,290▼
2024 · €32,300
Income taxes
€5,984▼
2024 · €7,763
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 34,672 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €354 | €7,855 | €244 | €0 | €470 | - |
| Other operating charges640/8 | €904 | €2,421 | €1,993 | €1,686 | €17,258 | ▲ 923% |
| Gross operating margin9900 | €20,579 | €14,938 | €45,890 | €30,513 | €39,683 | ▲ 30.1% |
| Operating profit (loss)9901 | €19,320 | €4,661 | €43,653 | €28,827 | €21,955 | ▼ 23.8% |
| Financial income75/76B | €105 | €22 | €0 | €3 | €40 | ▲ 1,063% |
| Recurring financial income75 | €105 | €22 | €0 | €3 | €40 | ▲ 1,063% |
| Financial charges65/66B | €3,394 | €2,710 | €1,115 | €3,350 | €3,206 | ▼ 4.3% |
| Recurring financial charges65 | €3,394 | €2,710 | €1,115 | €3,350 | €3,206 | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | €16,032 | €1,973 | €42,537 | €25,480 | €18,789 | ▼ 26.3% |
| Income taxes67/77 | €316 | €314 | €4,811 | €7,763 | €5,984 | ▼ 22.9% |
| Profit (loss) for the period9904 | €15,716 | €1,659 | €37,727 | €17,717 | €12,805 | ▼ 27.7% |
| Profit (loss) for the period to be appropriated9905 | €15,716 | €1,659 | €37,727 | €17,717 | €12,805 | ▼ 27.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19,429 | €18,678 | €40,059 | €56,477 | €54,894 | ▼ 2.8% |
| Fixed assets21/28 | €0 | €244 | €150 | €0 | €3,027 | - |
| Tangible fixed assets22/27 | €0 | €244 | €0 | - | €3,027 | - |
| Plant, machinery and equipment23 | - | - | - | - | €1,615 | - |
| Furniture and vehicles24 | €0 | €244 | €0 | - | €1,412 | - |
| Financial fixed assets28 | - | - | €150 | €0 | - | - |
| Current assets29/58 | €19,429 | €18,434 | €39,909 | €56,477 | €51,867 | ▼ 8.2% |
| Amounts receivable within one year40/41 | €14,365 | €14,368 | €18,510 | €26,195 | €17,349 | ▼ 33.8% |
| Trade receivables40 | €13,279 | €13,545 | €17,975 | €23,173 | €10,060 | ▼ 56.6% |
| Other amounts receivable41 | €1,086 | €823 | €535 | €3,022 | €7,289 | ▲ 141% |
| Cash at bank and in hand54/58 | €24 | €89 | €17,055 | €24,642 | €31,463 | ▲ 27.7% |
| Deferred charges and accrued income490/1 | €5,040 | €3,977 | €4,344 | €5,640 | €3,055 | ▼ 45.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19,429 | €18,678 | €40,059 | €56,477 | €54,894 | ▼ 2.8% |
| Equity10/15 | -€33,776 | -€32,117 | €5,610 | €23,327 | €35,604 | ▲ 52.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €11,860 | €11,860 | €11,860 | €11,860 | €11,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €10,000 | €10,000 | €11,860 | €11,860 | €11,860 | = |
| Profit (loss) carried forward14 | -€64,236 | -€62,577 | -€24,850 | -€7,134 | €5,144 | ▲ 172% |
| Amounts payable17/49 | €53,204 | €50,795 | €34,449 | €33,150 | €19,290 | ▼ 41.8% |
| Amounts payable after more than one year17 | €18,550 | €18,550 | €0 | - | - | - |
| Financial debts170/4 | €18,550 | €18,550 | €0 | - | - | - |
| Amounts payable within one year42/48 | €34,654 | €32,245 | €34,449 | €32,300 | €19,290 | ▼ 40.3% |
| Financial debts43 | €18,937 | €13,521 | €0 | €4,411 | €5,341 | ▲ 21.1% |
| Credit institutions430/8 | €18,937 | €13,521 | €0 | €1,876 | €1,976 | ▲ 5.3% |
| Other loans439 | - | - | - | €2,535 | €3,365 | ▲ 32.7% |
| Trade debts44 | €6,453 | €2,442 | €3,009 | €4,802 | €4,273 | ▼ 11.0% |
| Suppliers440/4 | €6,453 | €2,442 | €3,009 | €4,802 | €4,273 | ▼ 11.0% |
| Taxes, remuneration and social security45 | €635 | €630 | €5,125 | €5,258 | €350 | ▼ 93.3% |
| Taxes450/3 | €635 | €630 | €5,125 | €5,258 | €350 | ▼ 93.3% |
| Other amounts payable47/48 | €8,630 | €15,651 | €26,314 | €17,829 | €9,325 | ▼ 47.7% |
| Accrued charges and deferred income492/3 | - | - | - | €850 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,716 | €1,659 | €37,727 | €17,717 | €12,805 | ▼ 27.7% |
| + Depreciation and write-downs630 | €354 | €7,855 | €244 | €0 | €470 | - |
| Operating cash flow (approximation) | €16,070 | €9,515 | €37,971 | €17,717 | €13,274 | ▼ 25.1% |
| Investment in fixed assets (approximation) | - | -€8,100 | -€150 | €150 | -€3,496 | ▼ 2,431% |
| Change in cash | - | €65 | €16,966 | €7,587 | €6,821 | ▼ 10.1% |
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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €37,727 ▲2,174%
Operating result €43,653, net result €37,727, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.16
Current ratio from 0.57 to 1.16.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €12,464
Net result €12,464 after 2 loss-making years.
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€65,124
Net result drops to -€65,124, the lowest in the series; recovery starts the following year.
17-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 139 days late
19-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 203 days late
2017
13-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 74 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Avelgem · 1 establishment unit since 2009
Ground area
8,437 m²
Building footprint
692 m²
Volume, LiDAR
3,046 m³
2 parcels, Flanders · tallest building 13.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SPC
since 20092.181.122.105
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44035B1472/00C000 | Flanders | 6,565 m² | 1 · 294 m² | 13.1 m · 2 fl. |
| 34003A2574/00C000 | Flanders | 1,872 m² | 1 · 398 m² | 10.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 35,792 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
Founded05-02-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0809619309
Also
9925:BE0809619309
Registered
08-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.