Equity
SPC has made a profit without a break since 2020.
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SPC has made a profit without a break since 2020.
Green is investment, beige is depreciation.
Three of the last ten came late. The 2017 accounts came latest: 203 days after the end of the period.
In July 2024, 34,693 companies had the same profile as SPC has now. Each dot stands for 87 companies, two years later.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for SPC. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
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| Company | ||||
|---|---|---|---|---|
| SPC Avelgem | €54,894 | €39,683 | 64.9% | - |
| MisC Waregem | €55,744 | €32,200 | 30.4% | - |
| MALUCA Brussels | €55,371 | €37,959 | -2430.4% | - |
| PRO FIRMUS Brussels | €53,745 | €36,338 | 57.8% | - |
| DESIGN & TECHNOLOGIES Brussels | €60,446 | €42,465 | 13.3% | - |
| FOLEDNIL Etterbeek | €58,363 | €38,183 | 47.9% | - |
| AUTOS CONSULTING Brussels | €54,270 | €39,896 | 82.7% | - |
These companies have the same main activity as SPC: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €53,700 and €60,400, founded between 2007 and 2010.
SPC files the micro format. That format states no turnover. The gross margin rose from €19,863 in 2010 to €39,683 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €120,000. Estimated: probably between €69,000 and €160,000.
Higher than 59% of 39,376 companies in 2025.
Higher than 59% of 38,058 companies in 2025.
Higher than 63% of 38,530 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
54,894 | 56,477 | 40,059 | 18,678 | 19,429 | 7,178 | 4,999 | 72,192 | 84,716 | 104,447 | 81,654 | 92,071 | 111,033 | 92,812 | 70,580 | 47,427 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | 30 | 395 | 760 | 1,125 | 1,490 | |
21/28 |
3,027 | 0 | 150 | 244 | 0 | 354 | 708 | - | 110 | 6,446 | 1,683 | 3,136 | 4,179 | 5,409 | 6,605 | 13,725 | |
22/27 |
3,027 | - | 0 | 244 | 0 | 354 | 708 | - | 110 | 6,446 | 1,683 | 3,106 | 3,784 | 4,649 | 5,480 | 12,235 | |
23 |
1,615 | - | - | - | - | - | - | - | - | 652 | 800 | 962 | 1,283 | 1,055 | 1,530 | 2,130 | |
24 |
1,412 | - | 0 | 244 | 0 | 354 | 708 | - | 110 | 5,794 | 882 | 2,144 | 2,501 | 3,594 | 3,950 | 10,105 | |
28 |
- | 0 | 150 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
29/58 |
51,867 | 56,477 | 39,909 | 18,434 | 19,429 | 6,824 | 4,291 | 72,192 | 84,606 | 98,001 | 79,971 | 88,935 | 106,854 | 87,403 | 63,975 | 33,703 | |
40/41 |
17,349 | 26,195 | 18,510 | 14,368 | 14,365 | 2,901 | 4,130 | 72,153 | 81,454 | 93,480 | 79,174 | 70,433 | 99,081 | 77,333 | 43,672 | 28,921 | |
40 |
10,060 | 23,173 | 17,975 | 13,545 | 13,279 | 1,704 | 2,147 | 70,696 | 78,760 | 91,894 | 31,044 | 423 | 21,284 | 33,383 | 26,563 | 21,408 | |
41 |
7,289 | 3,022 | 535 | 823 | 1,086 | 1,197 | 1,982 | 1,457 | 2,693 | 1,586 | 48,130 | 70,010 | 77,797 | 43,950 | 17,109 | 7,512 | |
54/58 |
31,463 | 24,642 | 17,055 | 89 | 24 | 20 | 44 | 24 | 3 | 21 | 334 | 182 | 2,802 | 10,070 | 17,451 | 3,613 | |
490/1 |
3,055 | 5,640 | 4,344 | 3,977 | 5,040 | 3,903 | 117 | 15 | 3,149 | 4,500 | 463 | 18,320 | 4,971 | - | 2,852 | 1,168 | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
54,894 | 56,477 | 40,059 | 18,678 | 19,429 | 7,178 | 4,999 | 72,192 | 84,716 | 104,447 | 81,654 | 92,071 | 111,033 | 92,812 | 70,580 | 47,427 | |
10/15 |
35,604 | 23,327 | 5,610 | -32,117 | -33,776 | -49,492 | -61,955 | 3,168 | 6,408 | -8,795 | 7,100 | 54,359 | 53,957 | 48,986 | 33,924 | 23,522 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 11,860 | 1,860 | |
130/1 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
133 |
11,860 | 11,860 | 11,860 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | - | |
14 |
5,144 | -7,134 | -24,850 | -62,577 | -64,236 | -79,952 | -92,415 | -27,292 | -24,052 | -39,255 | -23,360 | 23,899 | 23,497 | 18,526 | 3,464 | 3,062 | |
17/49 |
19,290 | 33,150 | 34,449 | 50,795 | 53,204 | 56,670 | 66,955 | 69,024 | 78,307 | 113,242 | 74,554 | 37,712 | 57,076 | 43,826 | 36,656 | 23,905 | |
17 |
- | - | 0 | 18,550 | 18,550 | 18,550 | 18,550 | 26,550 | 27,050 | 19,000 | - | - | - | - | - | - | |
170/4 |
- | - | 0 | 18,550 | 18,550 | 18,550 | 18,550 | 26,550 | 27,050 | 19,000 | - | - | - | - | - | - | |
42/48 |
19,290 | 32,300 | 34,449 | 32,245 | 34,654 | 38,120 | 48,021 | 42,474 | 49,757 | 93,997 | 53,754 | 36,907 | 57,076 | 33,826 | 22,236 | 23,905 | |
43 |
5,341 | 4,411 | 0 | 13,521 | 18,937 | 19,820 | 19,232 | 19,261 | 22,216 | 21,196 | 22,113 | 25,212 | 19,985 | 9,843 | - | - | |
430/8 |
1,976 | 1,876 | 0 | 13,521 | 18,937 | 19,820 | 19,232 | 19,261 | 22,216 | 21,196 | 22,113 | 25,212 | 19,985 | 9,843 | - | - | |
439 |
3,365 | 2,535 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
4,273 | 4,802 | 3,009 | 2,442 | 6,453 | 3,768 | 7,527 | 18,475 | 16,925 | 59,026 | 21,918 | 7,064 | 27,433 | 10,015 | 17,172 | 12,186 | |
440/4 |
4,273 | 4,802 | 3,009 | 2,442 | 6,453 | 3,768 | 7,527 | 18,475 | 16,925 | 59,026 | 21,918 | 7,064 | 27,433 | 10,015 | 17,172 | 12,186 | |
46 |
- | - | - | - | - | 0 | 2,500 | - | - | - | 1,815 | 2,220 | - | - | - | - | |
45 |
350 | 5,258 | 5,125 | 630 | 635 | 974 | 1,508 | 2,323 | 1,431 | 496 | 2,338 | 578 | 7,825 | 12,135 | 5,064 | 988 | |
450/3 |
350 | 5,258 | 5,125 | 630 | 635 | 974 | 1,508 | 2,323 | 1,431 | 496 | 2,338 | 578 | 7,825 | 12,135 | 5,064 | 988 | |
47/48 |
9,325 | 17,829 | 26,314 | 15,651 | 8,630 | 13,557 | 17,254 | 2,415 | 9,185 | 13,278 | 5,570 | 1,833 | 1,833 | 1,833 | - | 10,732 | |
492/3 |
0 | 850 | - | - | - | 0 | 384 | - | 1,500 | 246 | 20,800 | 805 | - | 10,000 | 14,420 | - | |
| Income statement | |||||||||||||||||
76A |
- | - | - | - | - | - | - | - | 17,132 | - | - | - | - | - | - | - | |
9900 |
39,683 | 30,513 | 45,890 | 14,938 | 20,579 | 18,183 | -3,895 | 4,848 | 25,596 | 830 | -35,963 | 20,427 | 24,540 | 37,729 | 21,180 | 19,863 | |
630 |
470 | 0 | 244 | 7,855 | 354 | 354 | 354 | 110 | 843 | 3,806 | 1,453 | 2,270 | 3,759 | 3,295 | 4,209 | 10,242 | |
640/8 |
17,258 | 1,686 | 1,993 | 2,421 | 904 | 1,196 | 55,434 | 2,319 | 2,370 | 1,726 | 2,062 | 2,974 | 1,609 | 4,606 | 6,108 | 3,589 | |
9901 |
21,955 | 28,827 | 43,653 | 4,661 | 19,320 | 16,633 | -59,683 | 2,419 | 22,383 | -4,703 | -39,479 | 15,183 | 19,172 | 29,828 | 10,863 | 6,033 | |
75/76B |
40 | 3 | 0 | 22 | 105 | 10 | 96 | 1 | 81 | 1 | 4,479 | 6,351 | 12 | 21 | 15 | 150 | |
75 |
40 | 3 | 0 | 22 | 105 | 10 | 96 | 1 | 81 | 1 | 4,479 | 6,351 | 12 | 21 | 15 | 150 | |
65/66B |
3,206 | 3,350 | 1,115 | 2,710 | 3,394 | 3,564 | 5,177 | 5,134 | 6,469 | 3,656 | 5,673 | 6,540 | 6,565 | 4,360 | 474 | 1,255 | |
65 |
3,206 | 3,350 | 1,115 | 2,710 | 3,394 | 3,564 | 5,177 | 5,134 | 6,469 | 3,656 | 5,673 | 6,540 | 6,565 | 4,360 | 474 | 1,255 | |
9903 |
18,789 | 25,480 | 42,537 | 1,973 | 16,032 | 13,078 | -64,764 | -2,714 | 15,996 | -8,357 | -40,672 | 14,994 | 12,619 | 25,489 | 10,404 | 4,928 | |
67/77 |
5,984 | 7,763 | 4,811 | 314 | 316 | 615 | 360 | 526 | 792 | 7,537 | 6,588 | 14,592 | 7,648 | 10,427 | 2 | 6 | |
9904 |
12,805 | 17,717 | 37,727 | 1,659 | 15,716 | 12,464 | -65,124 | -3,240 | 15,203 | -15,895 | -47,260 | 402 | 4,971 | 15,062 | 10,402 | 4,922 | |
9905 |
12,805 | 17,717 | 37,727 | 1,659 | 15,716 | 12,464 | -65,124 | -3,240 | 15,203 | -15,895 | -47,260 | 402 | 4,971 | 15,062 | 10,402 | 4,922 | |
| Appropriation of the result | |||||||||||||||||
9906 |
5,144 | -7,134 | -24,850 | -62,577 | -64,236 | -79,952 | -92,415 | -27,292 | -24,052 | -39,255 | -23,360 | 23,899 | 23,497 | 18,526 | 13,464 | 4,922 | |
14P |
-7,661 | -24,850 | -62,577 | -64,236 | -79,952 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,000 | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,000 | - | |
| Document | |||||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 13-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00285296 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00214324 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00203927 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00193921 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20124632 | |
| 31-12-2020 | micro format | 06-07-2021 | 2021-31900059 | |
| 31-12-2019 | micro format | 10-07-2020 | 2020-28900438 | |
| 31-12-2018 | micro format | 17-12-2019 | 2019-76400155 | |
| 31-12-2017 | micro format | 19-02-2019 | 2019-05400159 | |
| 31-12-2016 | micro format | 13-10-2017 | 2017-67200449 | |
| 31-12-2015 | abbreviated format | 26-07-2016 | 2016-35800352 | |
| 31-12-2014 | abbreviated format | 30-09-2015 | 2015-61200016 | |
| 31-12-2013 | abbreviated format | 02-10-2014 | 2014-63600231 | |
| 31-12-2012 | abbreviated format | 24-10-2013 | 2013-64900192 | |
| 31-12-2011 | abbreviated format | 28-09-2012 | 2012-59500135 | |
| 31-12-2010 | abbreviated format | 01-07-2011 | 2011-25800259 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22,425 | 28,827 | 43,897 | 12,517 | 19,674 | 16,987 | -59,329 | 2,529 | 23,226 | -897 | -38,025 | 17,453 | 22,931 | 33,123 | 15,072 | 16,275 | ||
| 13,274 | 17,717 | 37,971 | 9,515 | 16,070 | 12,818 | -64,769 | -3,130 | 16,047 | -12,088 | -45,806 | 2,672 | 8,730 | 18,357 | 14,611 | 15,164 | ||
| 3,496 | -150 | 150 | 8,100 | 0 | 0 | 1,062 | 0 | -5,493 | 8,569 | 13,121 | 1,227 | 2,529 | 2,099 | 437 | 22,142 | ||
| 6,821 | 7,587 | 16,966 | 65 | 4 | -25 | 21 | 21 | -18 | -314 | 152 | -2,620 | -7,268 | -7,381 | 13,838 | - | ||
| 32,577 | 24,177 | 5,460 | -13,811 | -15,226 | -31,296 | -43,730 | 29,718 | 34,848 | 4,005 | 26,217 | 52,028 | 49,778 | 53,577 | 41,739 | 9,798 | ||
| 64.9% | 41.3% | 14.0% | -171.9% | -173.8% | -689.5% | - | 4.4% | 7.6% | -8.4% | 8.7% | 59.0% | 48.6% | 52.8% | 48.1% | 49.6% | ||
| 2.69 | 1.75 | 1.16 | 0.57 | 0.56 | 0.18 | - | 1.70 | 1.70 | 1.04 | 1.49 | 2.41 | 1.87 | 2.58 | 2.88 | 1.41 | ||
| 0.54 | 1.42 | 6.14 | - | - | - | - | 21.79 | 12.22 | - | 10.50 | 0.69 | 1.06 | 0.89 | 1.08 | 1.02 | ||
| 36.0% | 76.0% | 672.5% | - | - | - | - | -102.3% | 237.2% | - | -665.7% | 0.7% | 9.2% | 30.7% | 30.7% | 20.9% | ||
| 23.3% | 31.4% | 94.2% | 8.9% | 80.9% | 173.6% | - | -4.5% | 17.9% | -15.2% | -57.9% | 0.4% | 4.5% | 16.2% | 14.7% | 10.4% | ||
| 7.00 | 8.60 | 39.36 | 4.62 | 5.80 | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,496 | - | - | €8,100 | - |
| Financial fixed assets | - | - | €150 | - | - |
| €470 | €0 | €244 | €7,855 | €354 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 24% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 58.7% to 35.1%. Equity is higher and debt is lower.
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SPC has no parent and no holdings in its annual accounts. SPC shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
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Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Oedelestraat 1A registered office 8580 Avelgem | ||
| Malsemstraat 2 9880 Aalter 62200 Computer consultancy and computer facilities management | 05-02-2009 | 2.181.122.105 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44035B1472/00C000 | 6,565 m² | 1 · 294 m² | 13.1 m · 2 |
| 34003A2574/00C000 | 1,872 m² | 1 · 398 m² | 10.9 m · 1 |
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