SPD CONSULT
ActiveSummary
SPD CONSULT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.58M and a net result of €633k. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 94% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▲+9
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity ample (current ratio 35.47 against 3.64 in 2024; short-term debt: 1.4% and cash: 13.6% of total assets), and 3.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 · 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
96.7%
Return on assets
11%
Age of the figures
9 mo
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
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
155 d early
2023
140 d early
2022
132 d early
2021
156 d early
2020
157 d early
2019
149 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.22M
EBIT margin
78.1%
Net result
€633k▲ 31.1%
2024 · €483k
2018: €573k
2019: €686k▲ +19.6% vs 2018
2020: €567k▼ -17.3% vs 2019
2021: €564k▼ -0.6% vs 2020
2022: €508k▼ -9.9% vs 2021
2023: €868k▲ +71.0% vs 2022highest in 8 years
2024: €483k▼ -44.4% vs 2023lowest in 8 years
2025: €633k▲ +31.1% vs 2024
2018 → 2025
Working capital
€2.77M▲ 28.7%
2024 · €2.15M
2018: €1.07Mlowest in 8 years
2019: €1.31M▲ +22.5% vs 2018
2020: €1.39M▲ +5.4% vs 2019
2021: €1.51M▲ +8.7% vs 2020
2022: €1.59M▲ +5.4% vs 2021
2023: €2.16M▲ +36.3% vs 2022
2024: €2.15M▼ -0.5% vs 2023
2025: €2.77M▲ +28.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.22M
Equity€4.42M-€4.52M▲ 2.4%€5.09M▲ 12.6%€5.07M▼ 0.3%€5.58M▲ 9.9%
2021: €4.42Mlowest in 5 years
2022: €4.52M▲ +2.4% vs 2021
2023: €5.09M▲ +12.6% vs 2022
2024: €5.07M▼ -0.3% vs 2023
2025: €5.58M▲ +9.9% vs 2024highest in 5 years
Operating result€881k-€825k▼ 6.5%€1.32M▲ 59.9%€785k▼ 40.4%€956k▲ 21.8%
2021: €881k
2022: €825k▼ -6.5% vs 2021
2023: €1.32M▲ +59.9% vs 2022highest in 5 years
2024: €785k▼ -40.4% vs 2023lowest in 5 years
2025: €956k▲ +21.8% vs 2024
Net result€564k-€508k▼ 9.9%€868k▲ 71.0%€483k▼ 44.4%€633k▲ 31.1%
2021: €564k
2022: €508k▼ -9.9% vs 2021
2023: €868k▲ +71.0% vs 2022highest in 5 years
2024: €483k▼ -44.4% vs 2023lowest in 5 years
2025: €633k▲ +31.1% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 22% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.77M
Fixed assets
€2.91M ▼ 0.2%
Current assets
€2.85M ▼ 3.9%
Equity and liabilities €5.77M
Equity
€5.58M ▲ 9.9%
Provisions
€109k
Debt
€80k ▼ 90.1%
Debt's share of the balance-sheet total falls from 13.8% to 1.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€963k▲
2024 · €792k
Cash flow
€640k▲
2024 · €490k
Current ratio
35.47▲
2024 · 3.64
Debt to equity
0.01▼
2024 · 0.16
ROE
11.3%▲
2024 · 9.5%
ROA
11.0%▲
2024 · 8.2%
Interest coverage
12.89▲
2024 · 9.41
Debt ≤ 1 year
€80k▼
2024 · €815k
Income taxes
€250k▲
2024 · €221k
Staff costs
€458
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.89M€5.77M▼
Fixed assets21/28€2.92M€2.91M▼
Tangible fixed assets22/27€19k€12k▼
Furniture and vehicles24€19k€12k▼
Financial fixed assets28€2.90M€2.90M=
Current assets29/58€2.97M€2.85M▼
Amounts receivable within one year40/41€380k€201k▼
Trade receivables40€362k€201k▼
Other amounts receivable41€18k€0▼
Current investments50/53€1.86M€1.86M=
Cash at bank and in hand54/58€723k€786k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€5.89M€5.77M▼
Equity10/15€5.07M€5.58M▲
Contributions10/11€50k€50k=
Reserves13€3.14M€3.01M▼
Distributable reserves133€3.14M€3.01M▼
Profit (loss) carried forward14€1.88M€2.52M▲
Provisions and deferred taxes16-€109k
Provisions for liabilities and charges160/5-€109k
Other liabilities and charges164/5-€109k
Amounts payable17/49€815k€80k▼
Amounts payable within one year42/48€815k€80k▼
Trade debts44€10k€4k▼
Suppliers440/4€10k€4k▼
Taxes, remuneration and social security45€77k€76k▼
Taxes450/3€77k€76k▼
Other amounts payable47/48€728k-
Accrued charges and deferred income492/3-€47
Income statement
Code20242025
Turnover70-€1.22M
Goods, raw materials, services and sundry goods60/61-€191k
Remuneration, social security and pensions62-€458
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k=
Provisions for liabilities and charges: additions (uses and reversals)635/8-€109k
Other operating charges640/8€1k€297▼
Gross operating margin9900€794k€1.07M▲
Operating profit (loss)9901€785k€956k▲
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€84k€75k▼
Recurring financial charges65€84k€75k▼
Profit (loss) for the period before taxes9903€704k€883k▲
Income taxes67/77€221k€250k▲
Profit (loss) for the period9904€483k€633k▲
Profit (loss) for the period to be appropriated9905€483k€633k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.36M€2.52M▲
Profit (loss) brought forward from the previous period14P€1.88M€1.88M▲
Transfer from equity791/2€500k€130k▼
Transfer to equity691/2€480k-
To other reserves6921€480k-
Profit to be distributed694/7€500k€130k▼
Return on contributions (dividend)694€500k€130k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €1.22M | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €191k | - |
| Remuneration, social security and pensions62 | - | - | - | - | €458 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €2k | €7k | €7k | €7k | = |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €109k | - |
| Other operating charges640/8 | - | €2k | €2k | €1k | €297 | ▼ 77.8% |
| Gross operating margin9900 | €889k | €829k | €1.33M | €794k | €1.07M | ▲ 35.2% |
| Operating profit (loss)9901 | €881k | €825k | €1.32M | €785k | €956k | ▲ 21.8% |
| Financial income75/76B | - | - | €989 | €3k | €2k | ▼ 51.1% |
| Recurring financial income75 | €2k | - | €989 | €3k | €2k | ▼ 51.1% |
| Financial charges65/66B | - | €66k | €59k | €84k | €75k | ▼ 11.2% |
| Recurring financial charges65 | €63k | €66k | €59k | €84k | €75k | ▼ 11.2% |
| Profit (loss) for the period before taxes9903 | €821k | €759k | €1.26M | €704k | €883k | ▲ 25.4% |
| Income taxes67/77 | €257k | €251k | €392k | €221k | €250k | ▲ 13.0% |
| Profit (loss) for the period9904 | €564k | €508k | €868k | €483k | €633k | ▲ 31.1% |
| Transfer from tax-exempt reserves789 | - | €142k | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €564k | €650k | €868k | €483k | €633k | ▲ 31.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.21M | €5.27M | €5.64M | €5.89M | €5.77M | ▼ 2.1% |
| Fixed assets21/28 | €2.91M | €2.94M | €2.93M | €2.92M | €2.91M | ▼ 0.2% |
| Tangible fixed assets22/27 | €7k | €33k | €26k | €19k | €12k | ▼ 36.0% |
| Furniture and vehicles24 | - | €33k | €26k | €19k | €12k | ▼ 36.0% |
| Financial fixed assets28 | €2.90M | €2.90M | €2.90M | €2.90M | €2.90M | = |
| Current assets29/58 | €2.30M | €2.33M | €2.71M | €2.97M | €2.85M | ▼ 3.9% |
| Amounts receivable within one year40/41 | €206k | €201k | €200k | €380k | €201k | ▼ 47.1% |
| Trade receivables40 | - | €200k | €200k | €362k | €201k | ▼ 44.4% |
| Other amounts receivable41 | - | €1k | - | €18k | €0 | ▼ 100% |
| Current investments50/53 | €1.02M | €1.54M | €1.54M | €1.86M | €1.86M | = |
| Cash at bank and in hand54/58 | €1.08M | €591k | €975k | €723k | €786k | ▲ 8.7% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €2k | €2k | ▲ 15.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.21M | €5.27M | €5.64M | €5.89M | €5.77M | ▼ 2.1% |
| Equity10/15 | €4.42M | €4.52M | €5.09M | €5.07M | €5.58M | ▲ 9.9% |
| Contributions10/11 | - | €50k | €50k | €50k | €50k | = |
| Reserves13 | €2.55M | €2.66M | €3.16M | €3.14M | €3.01M | ▼ 4.1% |
| Non-distributable reserves130/1 | - | €5k | - | - | - | - |
| Reserves not available under the articles1311 | - | €5k | - | - | - | - |
| Tax-exempt reserves132 | - | €107k | - | - | - | - |
| Distributable reserves133 | - | €2.55M | €3.16M | €3.14M | €3.01M | ▼ 4.1% |
| Profit (loss) carried forward14 | €1.81M | €1.81M | €1.88M | €1.88M | €2.52M | ▲ 33.6% |
| Provisions and deferred taxes16 | - | - | - | - | €109k | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €109k | - |
| Other liabilities and charges164/5 | - | - | - | - | €109k | - |
| Amounts payable17/49 | €794k | €744k | €550k | €815k | €80k | ▼ 90.1% |
| Amounts payable within one year42/48 | €794k | €744k | €550k | €815k | €80k | ▼ 90.1% |
| Trade debts44 | €8k | €7k | €5k | €10k | €4k | ▼ 54.6% |
| Suppliers440/4 | - | €7k | €5k | €10k | €4k | ▼ 54.6% |
| Taxes, remuneration and social security45 | - | €109k | €52k | €77k | €76k | ▼ 1.6% |
| Taxes450/3 | - | €109k | €52k | €77k | €76k | ▼ 1.6% |
| Other amounts payable47/48 | - | €628k | €493k | €728k | - | - |
| Accrued charges and deferred income492/3 | - | €67 | - | - | €47 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €564k | €508k | €868k | €483k | €633k | ▲ 31.1% |
| + Depreciation and write-downs630 | €7k | €2k | €7k | €7k | €7k | = |
| Operating cash flow (approximation) | €570k | €510k | €876k | €490k | €640k | ▲ 30.6% |
| Investment in fixed assets (approximation) | - | €-29k | €0 | €0 | €0 | - |
| Change in cash | - | €-484k | €383k | €-252k | €63k | ▲ 125% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity times 10current ratio 35.47
Current ratio from 3.64 to 35.47; short-term debt falls from €815k to €80k.
26-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €483k ▼44.4%
Net result drops to €483k, the lowest in the series; recovery starts the following year.
13-03
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €868k ▲71%
Operating result €1.32M, net result €868k, both a record.
31-12
Financial
Equity above €5MEq €5.09M ▲12.6%
6 profitable years in a row build equity to €5.09M.
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
25-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
24-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
04-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
08-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Herstal · 1 establishment unit since 2011
Ground area
2.4 ha
Building footprint
849 m²
2 parcels, Wallonia. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
SPD CONSULT
since 20112.204.899.575
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62071A0078/00N000 | Wallonia | 2.2 ha | 1 · 594 m² | - |
| 62077A0662/00F000 | Wallonia | 1,748 m² | 1 · 255 m² | - |
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.
Recognitions · licences · registrations
Legal Entity Identifier
254900CTV05VWMSSTJ80
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 10,444 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
Founded02-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.