SPD CONSTRUCT
ActiveSPD CONSTRUCT has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €203k and a net result of €91k. Equity is growing by ~31.9% per year across the filed fiscal years. Its solvency ranks better than 63% of 2172 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability97▲+7
Solvency76▲+33
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 1.7 against 1.09 in 2024; short-term debt: 49.4% and cash: 79.7% of total assets), and 49.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
50.6%
Return on assets
22.8%
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
37 d early
2023
41 d early
2022
47 d early
2021
54 d early
2020
44 d early
2019
49 d early
← before the deadline
after the deadline →
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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€203k▲ 81.7%
2024 · €112k
2018: €27k
2019: €131k
2020: €193k
2021: €279k
2022: €325k
2023: €448k
2024: €112k
2018 → 2025
Total assets
€402k▼ 34.2%
2024 · €610k
2018: €478k
2019: €379k
2020: €458k
2021: €391k
2022: €400k
2023: €479k
2024: €610k
2018 → 2025
Net result
€91k▼ 12.0%
2024 · €104k
2018: €134k
2019: €104k
2020: €62k
2021: €86k
2022: €46k
2023: €123k
2024: €104k
2018 → 2025
Working capital
€139k▲ 202%
2024 · €46k
2018: €-52k
2019: €45k
2020: €97k
2021: €199k
2022: €251k
2023: €379k
2024: €46k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€279k-€325k▲ 16.4%€448k▲ 38.0%€112k▼ 75.0%€203k▲ 81.7%
Operating result€111k-€62k▼ 44.6%€162k▲ 164%€147k▼ 9.6%€129k▼ 12.0%
Net result€86k-€46k▼ 46.7%€123k▲ 170%€104k▼ 15.8%€91k▼ 12.0%
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 has fallen two years in a row; 2025 is 12% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €402k
Fixed assets
€64k▼ 2.2%
Current assets
€337k▼ 38.0%
Equity and liabilities €402k
Equity
€203k▲ 81.7%
Debt
€198k▼ 60.2%
The debt ratio falls from 81.7% to 49.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€136k▼
2024 · €154k
Cash flow
€99k▼
2024 · €111k
Solvency
50.6%▲
2024 · 18.3%
Current ratio
1.70▲
2024 · 1.09
Quick ratio
1.68▲
2024 · 1.08
Debt / equity
0.98▼
2024 · 4.45
ROE
45.0%▼
2024 · 92.8%
ROA
22.8%▲
2024 · 17.0%
Interest coverage
46.12▼
2024 · 75.21
Debt
€198k▼
2024 · €498k
Debt ≤ 1 year
€198k▼
2024 · €498k
Income taxes
€38k▼
2024 · €44k
Staff costs
€50k▼
2024 · €64k
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€610k€402k▼
Fixed assets21/28€66k€64k▼
Tangible fixed assets22/27€65k€63k▼
Land and buildings22€61k€56k▼
Plant, machinery and equipment23€4k€8k▲
Furniture and vehicles24€0-
Financial fixed assets28€922€922=
Current assets29/58€544k€337k▼
Stocks and contracts in progress3€5k€4k▼
Stocks30/36€5k€4k▼
Amounts receivable within one year40/41€27k€3k▼
Trade receivables40€4k€380▼
Other amounts receivable41€23k€3k▼
Cash at bank and in hand54/58€504k€320k▼
Deferred charges and accrued income490/1€8k€10k▲
Equity and liabilities
Total equity and liabilities10/49€610k€402k▼
Equity10/15€112k€203k▲
Contributions10/11€6k€6k=
Reserves13€106k€197k▲
Distributable reserves133€106k€197k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€498k€198k▼
Amounts payable within one year42/48€498k€198k▼
Trade debts44€28k€27k▼
Suppliers440/4€28k€27k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€30k€21k▼
Taxes450/3€30k€14k▼
Remuneration and social security454/9-€7k
Other amounts payable47/48€441k€151k▼
Accrued charges and deferred income492/3€0€95▲
Income statement
Code20242025
Remuneration, social security and pensions62€64k€50k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k▲
Other operating charges640/8€4k€4k▲
Gross operating margin9900€221k€190k▼
Operating profit (loss)9901€147k€129k▼
Financial income75/76B€3k€3k▲
Recurring financial income75€3k€3k▲
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€148k€129k▼
Income taxes67/77€44k€38k▼
Profit (loss) for the period9904€104k€91k▼
Profit (loss) for the period to be appropriated9905€104k€91k▼
Appropriation of the result
Profit (loss) to be appropriated9906€544k€91k▼
Profit (loss) brought forward from the previous period14P€440k€0▼
Transfer to equity691/2€104k€91k▼
To other reserves6921€104k€91k▼
Profit to be distributed694/7€440k€0▼
Return on contributions (dividend)694€440k€0▼
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (13 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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €200kEq €203k ▲81.7%
8 profitable years in a row build equity to €203k.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity triplescurrent ratio 13.36
Current ratio from 4.33 to 13.36; short-term debt falls from €75k to €31k.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €46k ▼46.7%
Net result drops to €46k, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 2.76
Current ratio from 1.37 to 2.76; short-term debt falls from €265k to €113k.
31-12
Financial
Equity above €200kEq €279k ▲44.4%
4 profitable years in a row build equity to €279k.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €150kEq €193k ▲47.3%
3 profitable years in a row build equity to €193k.
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €100kEq €131k ▲389%
2 profitable years in a row build equity to €131k.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Berlaar · 1 establishment unit since 2001
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.
Varenweg 82590 BerlaarGround area
1,448 m²
Building footprint
201 m²
Volume, LiDAR
1,526 m³
Parcel 12002C0380/00V000, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SPD CONSTRUCT
since 20012.095.474.172
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12002C0380/00V000 | Flanders | 1,448 m² | 1 · 201 m² | 11.4 m · 3 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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MINIM CONSTRUCTION
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STK X PRO
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Of 29,801 companies in sector 41001 we hold annual accounts for 16,041. 12,041 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-11-2001
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.