SPECTRE
ActiveSummary
SPECTRE has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €904k and a net result of €85k. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 62% of 4886 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-4
Solvency81▼-2
Growth38▼-17
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 1.88 against 1.85 in 2024; short-term debt: 43.6% and cash: 3.3% of total assets), and 43.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven 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
56.2%
Return on assets
5.3%
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
25 d late
2023
48 d early
2022
23 d late
2021
26 d late
2020
12 d late
2019
17 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, full schema
Turnover
€1.33M▼ 11.6%
2021 · €1.51M
2018: €1.78Mhighest in 5 years
2019: €1.40M▼ -21.1% vs 2018
2020: €1.02M▼ -27.4% vs 2019lowest in 5 years
2021: €1.51M▲ +48.2% vs 2020
2022: €1.33M▼ -11.6% vs 2021
2018 → 2022
EBIT margin
8.2%▼ 0.6pp
2021 · 8.7%
2018: 9.2%
2019: 11.9%▲ +29.0% vs 2018highest in 5 years
2020: 8.8%▼ -26.0% vs 2019
2021: 8.7%▼ -0.6% vs 2020
2022: 8.2%▼ -6.6% vs 2021lowest in 5 years
2018 → 2022
Net result
€85k▼ 29.2%
2024 · €120k
2018: €103k
2019: €118k▲ +14.5% vs 2018
2020: €64k▼ -46.2% vs 2019lowest in 8 years
2021: €97k▲ +51.5% vs 2020
2022: €85k▼ -12.4% vs 2021
2023: €83k▼ -2.4% vs 2022
2024: €120k▲ +45.5% vs 2023highest in 8 years
2025: €85k▼ -29.2% vs 2024
2018 → 2025
Working capital
€620k▲ 24.7%
2024 · €497k
2018: €266klowest in 8 years
2019: €391k▲ +47.1% vs 2018
2020: €463k▲ +18.3% vs 2019
2021: €566k▲ +22.2% vs 2020
2022: €650k▲ +14.9% vs 2021highest in 8 years
2023: €473k▼ -27.2% vs 2022
2024: €497k▲ +5.1% vs 2023
2025: €620k▲ +24.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.51M-€1.33M▼ 11.6%
2021: €1.51M
2022: €1.33M▼ -11.6% vs 2021
Equity€733k-€818k▲ 11.5%€699k▼ 14.5%€819k▲ 17.2%€904k▲ 10.4%
2021: €733k
2022: €818k▲ +11.5% vs 2021
2023: €699k▼ -14.5% vs 2022lowest in 5 years
2024: €819k▲ +17.2% vs 2023
2025: €904k▲ +10.4% vs 2024highest in 5 years
Operating result€132k-€109k▼ 17.4%€67k▼ 38.0%€149k▲ 121%€106k▼ 29.0%
2021: €132k
2022: €109k▼ -17.4% vs 2021
2023: €67k▼ -38.0% vs 2022lowest in 5 years
2024: €149k▲ +121% vs 2023highest in 5 years
2025: €106k▼ -29.0% vs 2024
Net result€97k-€85k▼ 12.4%€83k▼ 2.4%€120k▲ 45.5%€85k▼ 29.2%
2021: €97k
2022: €85k▼ -12.4% vs 2021
2023: €83k▼ -2.4% vs 2022lowest in 5 years
2024: €120k▲ +45.5% vs 2023highest in 5 years
2025: €85k▼ -29.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 29% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.61M
Fixed assets
€288k ▼ 12.1%
Current assets
€1.32M ▲ 22.4%
Equity and liabilities €1.61M
Equity
€904k ▲ 10.4%
Debt
€706k ▲ 19.9%
Debt's share of the balance-sheet total rises from 41.8% to 43.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€146k▼
2024 · €186k
Cash flow
€125k▼
2024 · €156k
Current ratio
1.88▲
2024 · 1.85
Debt to equity
0.78▲
2024 · 0.72
ROE
9.4%▼
2024 · 14.7%
ROA
5.3%▼
2024 · 8.5%
Interest coverage
177.14▼
2024 · 219.53
Debt ≤ 1 year
€701k▲
2024 · €583k
Income taxes
€28k▼
2024 · €40k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.41M€1.61M▲
Fixed assets21/28€328k€288k▼
Tangible fixed assets22/27€160k€120k▼
Furniture and vehicles24€160k€120k▼
Financial fixed assets28€168k€168k=
Current assets29/58€1.08M€1.32M▲
Amounts receivable within one year40/41€1.02M€1.27M▲
Trade receivables40€795k€1.04M▲
Other amounts receivable41€223k€227k▲
Cash at bank and in hand54/58€57k€54k▼
Deferred charges and accrued income490/1€4k€1k▼
Equity and liabilities
Total equity and liabilities10/49€1.41M€1.61M▲
Equity10/15€819k€904k▲
Contributions10/11€83k€83k=
Capital10€83k€83k=
Issued capital100€83k€83k=
Reserves13€736k€821k▲
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Distributable reserves133€728k€813k▲
Amounts payable17/49€589k€706k▲
Amounts payable within one year42/48€583k€701k▲
Trade debts44€366k€526k▲
Suppliers440/4€366k€526k▲
Taxes, remuneration and social security45€47k€37k▼
Taxes450/3€47k€37k▼
Other amounts payable47/48€170k€138k▼
Accrued charges and deferred income492/3€6k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€40k▲
Other operating charges640/8€10k€4k▼
Gross operating margin9900€196k€150k▼
Operating profit (loss)9901€149k€106k▼
Financial income75/76B€11k€8k▼
Recurring financial income75€11k€8k▼
Financial charges65/66B€845€822▼
Recurring financial charges65€845€822▼
Profit (loss) for the period before taxes9903€160k€113k▼
Income taxes67/77€40k€28k▼
Profit (loss) for the period9904€120k€85k▼
Profit (loss) for the period to be appropriated9905€120k€85k▼
Appropriation of the result
Profit (loss) to be appropriated9906€120k€85k▼
Transfer to equity691/2€120k€85k▼
To other reserves6921€120k€85k▼
The notes to these accounts (4 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 | €1.51M | €1.33M | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €1.37M | €1.22M | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | - | €2k | €36k | €40k | ▲ 9.3% |
| Other operating charges640/8 | €4k | €5k | €3k | €10k | €4k | ▼ 59.0% |
| Gross operating margin9900 | €143k | €114k | €73k | €196k | €150k | ▼ 23.5% |
| Operating profit (loss)9901 | €132k | €109k | €67k | €149k | €106k | ▼ 29.0% |
| Financial income75/76B | €2k | €2k | €38k | €11k | €8k | ▼ 32.6% |
| Recurring financial income75 | €2k | €2k | €38k | €11k | €8k | ▼ 32.6% |
| Financial charges65/66B | €459 | €381 | €237 | €845 | €822 | ▼ 2.7% |
| Recurring financial charges65 | €459 | €381 | €237 | €845 | €822 | ▼ 2.7% |
| Profit (loss) for the period before taxes9903 | €133k | €110k | €105k | €160k | €113k | ▼ 29.4% |
| Income taxes67/77 | €36k | €25k | €22k | €40k | €28k | ▼ 30.1% |
| Profit (loss) for the period9904 | €97k | €85k | €83k | €120k | €85k | ▼ 29.2% |
| Profit (loss) for the period to be appropriated9905 | €97k | €85k | €83k | €120k | €85k | ▼ 29.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.18M | €1.18M | €1.42M | €1.41M | €1.61M | ▲ 14.3% |
| Fixed assets21/28 | €168k | €168k | €229k | €328k | €288k | ▼ 12.1% |
| Tangible fixed assets22/27 | - | - | €61k | €160k | €120k | ▼ 24.8% |
| Furniture and vehicles24 | - | - | €61k | €160k | €120k | ▼ 24.8% |
| Financial fixed assets28 | €168k | €168k | €168k | €168k | €168k | = |
| Current assets29/58 | €1.02M | €1.01M | €1.19M | €1.08M | €1.32M | ▲ 22.4% |
| Amounts receivable within one year40/41 | €1.01M | €1.01M | €1.12M | €1.02M | €1.27M | ▲ 24.4% |
| Trade receivables40 | €611k | €603k | €717k | €795k | €1.04M | ▲ 30.7% |
| Other amounts receivable41 | €404k | €405k | €398k | €223k | €227k | ▲ 1.7% |
| Cash at bank and in hand54/58 | €1k | €3k | €73k | €57k | €54k | ▼ 6.6% |
| Deferred charges and accrued income490/1 | - | - | €1k | €4k | €1k | ▼ 62.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.18M | €1.18M | €1.42M | €1.41M | €1.61M | ▲ 14.3% |
| Equity10/15 | €733k | €818k | €699k | €819k | €904k | ▲ 10.4% |
| Contributions10/11 | €83k | €83k | €83k | €83k | €83k | = |
| Capital10 | €83k | €83k | €83k | €83k | €83k | = |
| Issued capital100 | €83k | €83k | €83k | €83k | €83k | = |
| Reserves13 | €648k | €733k | €616k | €736k | €821k | ▲ 11.5% |
| Non-distributable reserves130/1 | €8k | €8k | €8k | €8k | €8k | = |
| Legal reserve130 | €8k | €8k | €8k | €8k | €8k | = |
| Distributable reserves133 | €640k | €725k | €608k | €728k | €813k | ▲ 11.7% |
| Profit (loss) carried forward14 | €2k | €2k | - | - | - | - |
| Amounts payable17/49 | €451k | €362k | €719k | €589k | €706k | ▲ 19.9% |
| Amounts payable within one year42/48 | €450k | €362k | €716k | €583k | €701k | ▲ 20.4% |
| Trade debts44 | €419k | €356k | €492k | €366k | €526k | ▲ 43.9% |
| Suppliers440/4 | €419k | €356k | €492k | €366k | €526k | ▲ 43.9% |
| Taxes, remuneration and social security45 | €31k | €6k | €22k | €47k | €37k | ▼ 19.8% |
| Taxes450/3 | €31k | €6k | €22k | €47k | €37k | ▼ 19.8% |
| Other amounts payable47/48 | €915 | €687 | €202k | €170k | €138k | ▼ 18.9% |
| Accrued charges and deferred income492/3 | €311 | - | €3k | €6k | €4k | ▼ 32.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €97k | €85k | €83k | €120k | €85k | ▼ 29.2% |
| + Depreciation and write-downs630 | €7k | - | €2k | €36k | €40k | ▲ 9.3% |
| Operating cash flow (approximation) | €103k | €85k | €85k | €156k | €125k | ▼ 20.2% |
| Investment in fixed assets (approximation) | - | €0 | €-63k | €-136k | €0 | ▲ 100% |
| Change in cash | - | €2k | €70k | €-15k | €-4k | ▲ 75.4% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 25 days late
2024
31-12
Financial
Highest result since 2018net €120k ▲45.5%
Net result €120k, the highest in the series.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 12 days late
2020
31-12
Financial
Weakest financial yearnet €64k ▼46.2%
Net result drops to €64k, the lowest in the series; recovery starts the following year.
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 17 days late
2019
31-12
Financial
Liquidity times 9current ratio 16.91
Current ratio from 1.80 to 16.91; short-term debt falls from €332k to €25k.
31-12
Financial
Equity above €500kEq €573k ▲26.1%
2 profitable years in a row build equity to €573k.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
10-07
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 7 acts read
About the unread acts
We know of 7 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
7 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, Tournai · 2 establishment units since 1998
Ground area
419 m²
Building footprint
298 m²
Volume, LiDAR
2,800 m³
3 parcels, Brussels, Wallonia · tallest building 18.7 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
SPECTRE
since 19982.088.754.646
SPECTRE
since 20092.188.673.455
3 parcels
Wallonia
2
(66.7%)
Brussels
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57003C0002/00P004 | Wallonia | 209 m² | 1 · 75 m² | - |
| 21822R0228/00Z003 | Brussels | 106 m² | 1 · 107 m² | 18.7 m · 5 fl. |
| 57081E0113/00K002 | Wallonia | 104 m² | 1 · 116 m² | 11.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 733 companies in sector 46820 we hold annual accounts for 388. 277 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-08-1998
Fiscal year end31-12
Activities, NACEBEL 2025
46820Wholesale trade
46831Wholesale of construction materials, general range
Scores and ratios are computed by Checked and are not a credit decision.