SPEA
ActiveSummary
SPEA has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €29,365. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 11425 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability43▼-12
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 4.56 against 6.12 in 2024; short-term debt: 1.4% and cash: 3.2% of total assets), and 1.6% 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+raises risk○neutral
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
98.4%
Return on assets
2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
38 d early
2023
6 d early
2022
31 d late
2021
31 d late
2020
31 d late
2019
83 d late
← 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 18 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)
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.4m▲ 1,489%
2024 · €89,893
Total assets
€1.5m▲ 1,338%
2024 · €100,865
Net result
€29,365▲ 315%
2024 · €7,072
Working capital
€74,823▲ 62.8%
2024 · €45,958
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€9,216▲ 292%€4,274▼ 53.6%€8,240▲ 92.8%€9,617▲ 16.7%€48,186▲ 401%
Net result€6,692▲ 331%€3,071▼ 54.1%€5,882▲ 91.5%€7,072▲ 20.2%€29,365▲ 315%
Equity€73,868▲ 10.0%€76,939▲ 4.2%€82,821▲ 7.6%€89,893▲ 8.5%€1.4m▲ 1,489%
Total assets€85,412▲ 13.2%€88,105▲ 3.2%€99,272▲ 12.7%€100,865▲ 1.6%€1.5m▲ 1,338%
Debt€11,544▲ 40.0%€11,166▼ 3.3%€16,451▲ 47.3%€10,972▼ 33.3%€22,497▲ 105%
Working capital€28,533▲ 30.6%€31,754▲ 11.3%€38,387▲ 20.9%€45,958▲ 19.7%€74,823▲ 62.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 401% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.4m ▲ 2,850%
Current assets
€95,820 ▲ 74.4%
Equity and liabilities €1.5m
Equity
€1.4m ▲ 1,489%
Debt
€22,497 ▲ 105%
Debt's share of the balance-sheet total falls from 10.9% to 1.6%. Equity and debt are higher.
Key figures and ratios
Current ratio
4.56▼
2024 · 6.12
Debt to equity
0.02▼
2024 · 0.12
ROE
2.1%▼
2024 · 7.9%
ROA
2.0%▼
2024 · 7.0%
Debt ≤ 1 year
€20,997▲
2024 · €8,972
Income taxes
€12,628▲
2024 · €2,357
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €6,193 | €6,313 | €7,056 | €7,143 | €7,353 | ▲ 2.9% |
| Gross operating margin9900 | €15,409 | €10,587 | €15,296 | €16,760 | €55,539 | ▲ 231% |
| Operating profit (loss)9901 | €9,216 | €4,274 | €8,240 | €9,617 | €48,186 | ▲ 401% |
| Financial charges65/66B | €79 | €82 | €206 | €188 | €6,193 | ▲ 3,188% |
| Recurring financial charges65 | €79 | €82 | €206 | €188 | €6,193 | ▲ 3,188% |
| Profit (loss) for the period before taxes9903 | €9,137 | €4,192 | €8,034 | €9,429 | €41,993 | ▲ 345% |
| Income taxes67/77 | €2,445 | €1,121 | €2,152 | €2,357 | €12,628 | ▲ 436% |
| Profit (loss) for the period9904 | €6,692 | €3,071 | €5,882 | €7,072 | €29,365 | ▲ 315% |
| Profit (loss) for the period to be appropriated9905 | €6,692 | €3,071 | €5,882 | €7,072 | €29,365 | ▲ 315% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €85,412 | €88,105 | €99,272 | €100,865 | €1.5m | ▲ 1,338% |
| Fixed assets21/28 | €45,935 | €45,935 | €45,935 | €45,935 | €1.4m | ▲ 2,850% |
| Tangible fixed assets22/27 | €45,935 | €45,935 | €45,935 | €45,935 | €1.4m | ▲ 2,850% |
| Land and buildings22 | €45,935 | €45,935 | €45,935 | €45,935 | €1.4m | ▲ 2,850% |
| Current assets29/58 | €39,477 | €42,170 | €53,337 | €54,930 | €95,820 | ▲ 74.4% |
| Stocks and contracts in progress3 | €500 | €500 | €500 | €0 | - | - |
| Stocks30/36 | €500 | €500 | €500 | €0 | - | - |
| Amounts receivable within one year40/41 | €23,996 | €3,287 | €11,522 | €13,748 | €49,723 | ▲ 262% |
| Trade receivables40 | €23,847 | €2,887 | €10,622 | €12,441 | €49,581 | ▲ 299% |
| Other amounts receivable41 | €149 | €400 | €900 | €1,306 | €143 | ▼ 89.1% |
| Current investments50/53 | €6,000 | €6,000 | €6,000 | €6,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €8,981 | €32,383 | €31,963 | €35,182 | €46,097 | ▲ 31.0% |
| Deferred charges and accrued income490/1 | - | - | €3,353 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €85,412 | €88,105 | €99,272 | €100,865 | €1.5m | ▲ 1,338% |
| Equity10/15 | €73,868 | €76,939 | €82,821 | €89,893 | €1.4m | ▲ 1,489% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Revaluation surpluses12 | - | - | - | - | €1.3m | - |
| Reserves13 | €53,868 | €56,939 | €62,821 | €69,893 | €99,258 | ▲ 42.0% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €0 | - | - | - |
| Tax-exempt reserves132 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Distributable reserves133 | €16,868 | €19,939 | €27,821 | €34,893 | €64,258 | ▲ 84.2% |
| Amounts payable17/49 | €11,544 | €11,166 | €16,451 | €10,972 | €22,497 | ▲ 105% |
| Amounts payable within one year42/48 | €10,944 | €10,416 | €14,951 | €8,972 | €20,997 | ▲ 134% |
| Trade debts44 | €2,904 | €2,693 | €6,806 | €1,772 | €637 | ▼ 64.0% |
| Suppliers440/4 | €2,904 | €2,693 | €6,806 | €1,772 | €637 | ▼ 64.0% |
| Taxes, remuneration and social security45 | €1,598 | €2,923 | €2,144 | €0 | €10,990 | - |
| Taxes450/3 | €1,598 | €2,923 | €2,144 | €0 | €10,990 | - |
| Other amounts payable47/48 | €6,442 | €4,800 | €6,000 | €7,200 | €9,371 | ▲ 30.1% |
| Accrued charges and deferred income492/3 | €600 | €750 | €1,500 | €2,000 | €1,500 | ▼ 25.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,692 | €3,071 | €5,882 | €7,072 | €29,365 | ▲ 315% |
| Operating cash flow (approximation) | €6,692 | €3,071 | €5,882 | €7,072 | €29,365 | ▲ 315% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1.3m | - |
| Change in cash | - | €23,402 | -€420 | €3,220 | €10,914 | ▲ 239% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €29,365 ▲315%
Operating result €48,186, net result €29,365, both a record.
31-12
Financial
Equity above €1mEq €1.4m ▲1,489%
8 profitable years in a row build equity to €1.4m.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 83 days late
2019
31-12
Financial
Weakest financial yearnet €444 ▼68.4%
Net result drops to €444, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 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, Dendermonde · 1 establishment unit since 1996
Ground area
4,137 m²
Building footprint
1,598 m²
Volume, LiDAR
7,460 m³
Parcel 42002B0578/00E000, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
SPEA
since 19962.074.516.630
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42002B0578/00E000 | Flanders | 4,137 m² | 1 · 1,598 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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EVONITY
BE 0790.766.071
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ATL Service
BE 0472.692.381
Gent · Eq €1,436,691
Équipement, Machines et Appareils Spéciaux
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Sint-Jans-Molenbeek · Eq €1,442,211
Of 1,244 companies in sector 46643 we hold annual accounts for 953. 674 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
Founded21-12-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
16110Sawmilling and planing of wood
16210Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
22240Manufacture of rubber and plastic products
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.