SPECTRUM
ActiveSummary
SPECTRUM has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €488k and a net result of €59k. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 68% of 65 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-19
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 3.04 against 3.84 in 2024; short-term debt: 19.7% and cash: 40.4% of total assets), and 20.4% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 92
Relative position
BE, all sectors
reference
Gambling and betting activities (NACE 92)
about 50% more 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
79.6%
Return on assets
9.6%
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
3 d early
2023
20 d early
2022
5 d early
2021
92 d late
2020
44 d late
2019
14 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, abbreviated schema
Equity
€488k▲ 13.6%
2024 · €430k
Total assets
€614k▲ 23.1%
2024 · €499k
Net result
€59k▼ 58.0%
2024 · €139k
Working capital
€246k▲ 34.4%
2024 · €183k
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€129k▲ 16.5%€86k▼ 33.1%€15k▼ 83.1%€193k▲ 1,222%€127k▼ 34.4%
Net result€99k▲ 14.4%€62k▼ 37.6%€8k▼ 87.4%€139k▲ 1,703%€59k▼ 58.0%
Equity€535k▲ 22.7%€282k▼ 47.2%€290k▲ 2.7%€430k▲ 48.1%€488k▲ 13.6%
Total assets€577k▲ 25.0%€498k▼ 13.7%€408k▼ 18.1%€499k▲ 22.2%€614k▲ 23.1%
Debt€42k▲ 65.1%€216k▲ 411%€118k▼ 45.3%€69k▼ 41.5%€125k▲ 81.7%
Working capital€443k▲ 35.6%€69k▼ 84.4%€36k▼ 48.5%€183k▲ 415%€246k▲ 34.4%
Staff (FTE)4.8▲ 20.0%6.1▲ 27.1%6.8▲ 11.5%6.9▲ 1.5%7▲ 1.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €614k
Fixed assets
€246k ▼ 1.7%
Current assets
€367k ▲ 48.1%
Equity and liabilities €614k
Equity
€488k ▲ 13.6%
Debt
€125k ▲ 81.7%
Debt's share of the balance-sheet total rises from 13.8% to 20.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€174k▼
2024 · €240k
Cash flow
€106k▼
2024 · €187k
Current ratio
3.04▼
2024 · 3.84
Quick ratio
3.03▼
2024 · 3.84
Debt to equity
0.26▲
2024 · 0.16
ROE
12.0%▼
2024 · 32.5%
ROA
9.6%▼
2024 · 28.0%
Interest coverage
100.91▼
2024 · 148.60
Debt ≤ 1 year
€121k▲
2024 · €65k
Income taxes
€67k▲
2024 · €52k
Staff costs
€224k▼
2024 · €249k
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €37k | €4k | €0 | - | - | - |
| Remuneration, social security and pensions62 | €85k | €169k | €233k | €249k | €224k | ▼ 9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €20k | €40k | €47k | €47k | ▼ 0.5% |
| Other operating charges640/8 | €87k | €113k | €138k | €138k | €165k | ▲ 19.7% |
| Non-recurring operating charges66A | - | - | - | €1k | €877 | ▼ 41.3% |
| Gross operating margin9900 | €314k | €388k | €425k | €628k | €564k | ▼ 10.2% |
| Operating profit (loss)9901 | €129k | €86k | €15k | €193k | €127k | ▼ 34.4% |
| Financial income75/76B | €2k | - | €110 | €6 | €414 | ▲ 7,028% |
| Recurring financial income75 | €2k | - | €110 | €6 | €414 | ▲ 7,028% |
| Financial charges65/66B | €466 | €2k | €2k | €2k | €2k | ▲ 6.5% |
| Recurring financial charges65 | €466 | €2k | €2k | €2k | €2k | ▲ 6.5% |
| Profit (loss) for the period before taxes9903 | €130k | €85k | €13k | €191k | €125k | ▼ 34.5% |
| Income taxes67/77 | €31k | €23k | €5k | €52k | €67k | ▲ 28.9% |
| Profit (loss) for the period9904 | €99k | €62k | €8k | €139k | €59k | ▼ 58.0% |
| Profit (loss) for the period to be appropriated9905 | €99k | €62k | €8k | €139k | €59k | ▼ 58.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €577k | €498k | €408k | €499k | €614k | ▲ 23.1% |
| Fixed assets21/28 | €97k | €220k | €260k | €251k | €246k | ▼ 1.7% |
| Tangible fixed assets22/27 | €22k | €145k | €185k | €176k | €172k | ▼ 2.5% |
| Land and buildings22 | €18k | €37k | €41k | €33k | €28k | ▼ 14.3% |
| Plant, machinery and equipment23 | €4k | €108k | €144k | €144k | €144k | ▲ 0.2% |
| Financial fixed assets28 | €75k | €74k | €74k | €75k | €75k | = |
| Current assets29/58 | €481k | €278k | €148k | €248k | €367k | ▲ 48.1% |
| Stocks and contracts in progress3 | €1k | €2k | €1k | €0 | €867 | - |
| Stocks30/36 | €1k | €2k | €1k | €0 | €867 | - |
| Amounts receivable within one year40/41 | €353k | €9k | €0 | €66k | €104k | ▲ 59.1% |
| Trade receivables40 | €4k | €10 | €0 | - | - | - |
| Other amounts receivable41 | €349k | €9k | €0 | €66k | €104k | ▲ 59.1% |
| Cash at bank and in hand54/58 | €127k | €268k | €146k | €180k | €248k | ▲ 37.4% |
| Deferred charges and accrued income490/1 | - | - | €774 | €2k | €14k | ▲ 673% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €577k | €498k | €408k | €499k | €614k | ▲ 23.1% |
| Equity10/15 | €535k | €282k | €290k | €430k | €488k | ▲ 13.6% |
| Contributions10/11 | €201k | €201k | €201k | €201k | €201k | = |
| Reserves13 | €334k | €82k | €90k | €229k | €288k | ▲ 25.6% |
| Non-distributable reserves130/1 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves not available under the articles1311 | €20k | €20k | €20k | €20k | €20k | = |
| Distributable reserves133 | €314k | €62k | €70k | €209k | €268k | ▲ 28.0% |
| Profit (loss) carried forward14 | - | - | €0 | - | - | - |
| Amounts payable17/49 | €42k | €216k | €118k | €69k | €125k | ▲ 81.7% |
| Amounts payable within one year42/48 | €37k | €209k | €113k | €65k | €121k | ▲ 87.2% |
| Trade debts44 | €19k | €51k | €21k | €23k | €69k | ▲ 201% |
| Suppliers440/4 | €19k | €51k | €21k | €23k | €69k | ▲ 201% |
| Taxes, remuneration and social security45 | €13k | €38k | €27k | €42k | €52k | ▲ 24.1% |
| Taxes450/3 | €736 | €18k | €5k | €29k | €41k | ▲ 40.3% |
| Remuneration and social security454/9 | €13k | €19k | €21k | €12k | €11k | ▼ 13.8% |
| Other amounts payable47/48 | €5k | €120k | €65k | €0 | - | - |
| Accrued charges and deferred income492/3 | €5k | €6k | €5k | €4k | €4k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99k | €62k | €8k | €139k | €59k | ▼ 58.0% |
| + Depreciation and write-downs630 | €14k | €20k | €40k | €47k | €47k | ▼ 0.5% |
| Operating cash flow (approximation) | €112k | €82k | €48k | €187k | €106k | ▼ 43.4% |
| Investment in fixed assets (approximation) | - | €-143k | €-80k | €-38k | €-43k | ▼ 11.6% |
| Change in cash | - | €141k | €-121k | €34k | €68k | ▲ 98.4% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €139k ▲1,703%
Operating result €193k, net result €139k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 3.84
Current ratio from 1.32 to 3.84; short-term debt falls from €113k to €65k.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €8k ▼87.4%
Net result drops to €8k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 92 days late
2021
31-12
Financial
Equity above €500kEq €535k ▲22.7%
4 profitable years in a row build equity to €535k.
13-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 44 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 14.42
Current ratio from 5.37 to 14.42; short-term debt falls from €52k to €24k.
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 14 days late
Show earlier events
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Grimbergen · 1 establishment unit since 2001
Ground area
2,709 m²
Building footprint
323 m²
Volume, LiDAR
4,164 m³
2 parcels, Flanders · tallest building 19.6 m, ±5 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
SPEELHAL 21
since 20012.101.173.517
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084B0071/00Z019 | Flanders | 2,114 m² | 1 · 304 m² | 19.6 m · 5 fl. |
| 23322B0579/00C002 | Flanders | 595 m² | 1 · 19 m² | 6.5 m · 1 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 4,499 EUR awarded · 4,499 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 4,499 EUR | 4,499 EUR |
Schemes
Vlaams Beschermingsmechanisme 11 (stopgezet)
Recognitions · licences · registrations
Food safety, FASFC
1 siteAsse2.101.173.517
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Of 506 companies in sector 92000 we hold annual accounts for 302. 230 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
Founded12-12-2000
Fiscal year end31-12
Activities, NACEBEL 2025
92000Gambling and betting activities
93293Sports, amusement and recreation activities
Scores and ratios are computed by Checked and are not a credit decision.