SPECO
ActiveSummary
SPECO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €332k and a net result of €9k. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 77% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability41▼-42
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 8.52 against 9.42 in 2024; short-term debt: 11.3% and cash: 12.7% of total assets), and 19.2% 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 · 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
80.8%
Return on assets
2.3%
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
14 d late
2023
40 d early
2022
9 d late
2021
9 d late
2020
19 d late
2019
25 d late
← 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, micro schema
Equity
€332k▲ 2.9%
2024 · €323k
2018: €289k
2019: €281k▼ -2.8% vs 2018
2020: €221k▼ -21.4% vs 2019lowest in 8 years
2021: €242k▲ +9.4% vs 2020
2022: €281k▲ +16.2% vs 2021
2023: €281k▲ +0.1% vs 2022
2024: €323k▲ +14.9% vs 2023
2025: €332k▲ +2.9% vs 2024highest in 8 years
2018 → 2025
Total assets
€411k▲ 11.7%
2024 · €368k
2018: €320k
2019: €342k▲ +7.1% vs 2018
2020: €323k▼ -5.6% vs 2019
2021: €287k▼ -11.3% vs 2020lowest in 8 years
2022: €316k▲ +10.1% vs 2021
2023: €402k▲ +27.2% vs 2022
2024: €368k▼ -8.4% vs 2023
2025: €411k▲ +11.7% vs 2024highest in 8 years
2018 → 2025
Net result
€9k▼ 77.8%
2024 · €42k
2018: €45k
2019: €26k▼ -43.3% vs 2018
2020: €30k▲ +17.4% vs 2019
2021: €31k▲ +2.3% vs 2020
2022: €39k▲ +27.6% vs 2021
2023: €70k▲ +78.9% vs 2022highest in 8 years
2024: €42k▼ -40.4% vs 2023
2025: €9k▼ -77.8% vs 2024lowest in 8 years
2018 → 2025
Working capital
€350k▲ 12.2%
2024 · €312k
2018: €279k
2019: €263k▼ -5.8% vs 2018
2020: €211k▼ -19.9% vs 2019lowest in 8 years
2021: €231k▲ +9.8% vs 2020
2022: €273k▲ +18.1% vs 2021
2023: €270k▼ -1.1% vs 2022
2024: €312k▲ +15.6% vs 2023
2025: €350k▲ +12.2% 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
Equity€242k-€281k▲ 16.2%€281k▲ 0.1%€323k▲ 14.9%€332k▲ 2.9%
2021: €242klowest in 5 years
2022: €281k▲ +16.2% vs 2021
2023: €281k▲ +0.1% vs 2022
2024: €323k▲ +14.9% vs 2023
2025: €332k▲ +2.9% vs 2024highest in 5 years
Operating result€48k-€56k▲ 15.3%€101k▲ 80.3%€56k▼ 44.0%€14k▼ 75.8%
2021: €48k
2022: €56k▲ +15.3% vs 2021
2023: €101k▲ +80.3% vs 2022highest in 5 years
2024: €56k▼ -44.0% vs 2023
2025: €14k▼ -75.8% vs 2024lowest in 5 years
Net result€31k-€39k▲ 27.6%€70k▲ 78.9%€42k▼ 40.4%€9k▼ 77.8%
2021: €31k
2022: €39k▲ +27.6% vs 2021
2023: €70k▲ +78.9% vs 2022highest in 5 years
2024: €42k▼ -40.4% vs 2023
2025: €9k▼ -77.8% vs 2024lowest in 5 years
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 76% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €411k
Fixed assets
€14k ▼ 23.2%
Current assets
€397k ▲ 13.6%
Equity and liabilities €411k
Equity
€332k ▲ 2.9%
Debt
€79k ▲ 75.1%
Debt's share of the balance-sheet total rises from 12.2% to 19.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19k▼
2024 · €62k
Cash flow
€15k▼
2024 · €48k
Current ratio
8.52▼
2024 · 9.42
Debt to equity
0.24▲
2024 · 0.14
ROE
2.8%▼
2024 · 13.0%
ROA
2.3%▼
2024 · 11.4%
Interest coverage
2.39▼
2024 · 15.02
Debt ≤ 1 year
€47k▲
2024 · €37k
Debt > 1 year
€2k▼
2024 · €8k
Income taxes
€5k▼
2024 · €18k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€368k€411k▲
Fixed assets21/28€19k€14k▼
Tangible fixed assets22/27€19k€14k▼
Furniture and vehicles24€892€374▼
Leasing and similar rights25€15k€10k▼
Other tangible fixed assets26€3k€4k▲
Current assets29/58€349k€397k▲
Amounts receivable within one year40/41€41k€39k▼
Trade receivables40€41k€31k▼
Other amounts receivable41€372€7k▲
Current investments50/53€230k€306k▲
Cash at bank and in hand54/58€78k€52k▼
Deferred charges and accrued income490/1-€248
Equity and liabilities
Total equity and liabilities10/49€368k€411k▲
Equity10/15€323k€332k▲
Contributions10/11€6k€6k=
Reserves13€260k€269k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€258k€267k▲
Profit (loss) carried forward14€57k€57k=
Amounts payable17/49€45k€79k▲
Amounts payable after more than one year17€8k€2k▼
Financial debts170/4€8k€2k▼
Amounts payable within one year42/48€37k€47k▲
Current portion of amounts payable after more than one year42€6k€6k▲
Trade debts44€10k€10k▲
Suppliers440/4€10k€10k▲
Taxes, remuneration and social security45€15k€14k▼
Taxes450/3€12k€14k▲
Remuneration and social security454/9€3k-
Other amounts payable47/48€7k€15k▲
Accrued charges and deferred income492/3-€31k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k▼
Other operating charges640/8€1k€1k▲
Gross operating margin9900€64k€21k▼
Operating profit (loss)9901€56k€14k▼
Financial income75/76B€7k€9k▲
Recurring financial income75€7k€9k▲
Financial charges65/66B€4k€8k▲
Recurring financial charges65€4k€8k▲
Profit (loss) for the period before taxes9903€59k€14k▼
Income taxes67/77€18k€5k▼
Profit (loss) for the period9904€42k€9k▼
Profit (loss) for the period to be appropriated9905€42k€9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€98k€66k▼
Profit (loss) brought forward from the previous period14P€57k€57k▲
Transfer to equity691/2€42k€9k▼
To other reserves6921€42k€9k▼
The notes to these accounts (6 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €13k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €3k | €6k | €6k | €6k | ▼ 5.2% |
| Other operating charges640/8 | €923 | €1k | €1k | €1k | €1k | ▲ 8.3% |
| Non-recurring operating charges66A | €105 | - | - | - | - | - |
| Gross operating margin9900 | €52k | €60k | €108k | €64k | €21k | ▼ 67.4% |
| Operating profit (loss)9901 | €48k | €56k | €101k | €56k | €14k | ▼ 75.8% |
| Financial income75/76B | €15 | - | - | €7k | €9k | ▲ 22.0% |
| Recurring financial income75 | €15 | - | - | €7k | €9k | ▲ 22.0% |
| Financial charges65/66B | €70 | €513 | €3k | €4k | €8k | ▲ 95.8% |
| Recurring financial charges65 | €70 | €513 | €3k | €4k | €8k | ▲ 95.8% |
| Profit (loss) for the period before taxes9903 | €48k | €55k | €98k | €59k | €14k | ▼ 76.0% |
| Income taxes67/77 | €18k | €16k | €28k | €18k | €5k | ▼ 71.9% |
| Profit (loss) for the period9904 | €31k | €39k | €70k | €42k | €9k | ▼ 77.8% |
| Transfer from tax-exempt reserves789 | €14k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €44k | €39k | €70k | €42k | €9k | ▼ 77.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €287k | €316k | €402k | €368k | €411k | ▲ 11.7% |
| Fixed assets21/28 | €10k | €8k | €25k | €19k | €14k | ▼ 23.2% |
| Tangible fixed assets22/27 | €10k | €8k | €25k | €19k | €14k | ▼ 23.2% |
| Furniture and vehicles24 | €5k | €4k | €2k | €892 | €374 | ▼ 58.1% |
| Leasing and similar rights25 | - | - | €20k | €15k | €10k | ▼ 30.7% |
| Other tangible fixed assets26 | €5k | €4k | €3k | €3k | €4k | ▲ 29.6% |
| Current assets29/58 | €276k | €308k | €377k | €349k | €397k | ▲ 13.6% |
| Amounts receivable within one year40/41 | €40k | €40k | €38k | €41k | €39k | ▼ 6.4% |
| Trade receivables40 | €40k | €40k | €38k | €41k | €31k | ▼ 23.7% |
| Other amounts receivable41 | €1 | - | - | €372 | €7k | ▲ 1,891% |
| Current investments50/53 | €8k | €8k | - | €230k | €306k | ▲ 32.7% |
| Cash at bank and in hand54/58 | €228k | €260k | €339k | €78k | €52k | ▼ 32.8% |
| Deferred charges and accrued income490/1 | €530 | €192 | - | - | €248 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €287k | €316k | €402k | €368k | €411k | ▲ 11.7% |
| Equity10/15 | €242k | €281k | €281k | €323k | €332k | ▲ 2.9% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €180k | €218k | €218k | €260k | €269k | ▲ 3.6% |
| Non-distributable reserves130/1 | €13k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €13k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €167k | €216k | €216k | €258k | €267k | ▲ 3.6% |
| Profit (loss) carried forward14 | €55k | €56k | €57k | €57k | €57k | = |
| Amounts payable17/49 | €45k | €35k | €121k | €45k | €79k | ▲ 75.1% |
| Amounts payable after more than one year17 | - | - | €14k | €8k | €2k | ▼ 79.2% |
| Financial debts170/4 | - | - | €14k | €8k | €2k | ▼ 79.2% |
| Amounts payable within one year42/48 | €45k | €35k | €107k | €37k | €47k | ▲ 25.6% |
| Current portion of amounts payable after more than one year42 | - | - | €5k | €6k | €6k | ▲ 7.8% |
| Financial debts43 | - | €12 | - | - | - | - |
| Credit institutions430/8 | - | €12 | - | - | - | - |
| Trade debts44 | €5k | €10k | €9k | €10k | €10k | ▲ 9.5% |
| Suppliers440/4 | €5k | €10k | €9k | €10k | €10k | ▲ 9.5% |
| Taxes, remuneration and social security45 | €22k | €23k | €18k | €15k | €14k | ▼ 2.9% |
| Taxes450/3 | €22k | €23k | €18k | €12k | €14k | ▲ 19.8% |
| Remuneration and social security454/9 | - | - | - | €3k | - | - |
| Other amounts payable47/48 | €18k | €2k | €74k | €7k | €15k | ▲ 123% |
| Accrued charges and deferred income492/3 | €59 | - | €11 | - | €31k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31k | €39k | €70k | €42k | €9k | ▼ 77.8% |
| + Depreciation and write-downs630 | €3k | €3k | €6k | €6k | €6k | ▼ 5.2% |
| Operating cash flow (approximation) | €33k | €42k | €76k | €48k | €15k | ▼ 68.5% |
| Investment in fixed assets (approximation) | - | €0 | €-23k | €0 | €-2k | - |
| Change in cash | - | €32k | €79k | €-262k | €-26k | ▲ 90.2% |
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 · micro schema
2025
31-12
Financial
Weakest financial yearnet €9k ▼77.8%
Net result drops to €9k, the lowest in the series.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 9.42
Current ratio from 3.52 to 9.42; short-term debt falls from €107k to €37k.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €70k ▲78.9%
Operating result €101k, net result €70k, both a record.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 6.12
Current ratio from 3.05 to 6.12; short-term debt falls from €103k to €45k.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 25 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
11-07
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.
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, Ottignies-Louvain-la-Neuve · 1 establishment unit since 1998
Ground area
706 m²
Building footprint
78 m²
Volume, LiDAR
421 m³
Parcel 25016C0353/00B000, Wallonia · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Chemin du Cabaret 2, 1341 Ottignies-Louvain-la-Neuve
since 19982.088.599.248
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25016C0353/00B000 | Wallonia | 706 m² | 1 · 78 m² | 6.8 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.
Recognitions · licences · registrations
Legal Entity Identifier
699400V9SLUI4YGNEP18
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 37,547 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
Founded04-09-1998
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71113Urban planning and landscape architecture
73200Market research and public opinion polling
73300Public relations and communication consultancy
82300Organisation of conventions and trade shows
Scores and ratios are computed by Checked and are not a credit decision.