SPENCO
ActiveSPENCO has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143k and a net result of €-452. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 78% of 2269 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability37▼-1
Solvency90▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 2.51 against 2.47 in 2024; short-term debt: 35.4% and cash: 0% of total assets), and 35.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sector 93
lower
← 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
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
5 d early
2023
8 d early
2022
26 d early
2021
5 d early
2020
5 d early
2019
1 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€143k▼ 0.3%
2024 · €143k
2018: €115k
2019: €114k
2020: €113k
2021: €115k
2022: €125k
2023: €143k
2024: €143k
2018 → 2025
Total assets
€221k▼ 1.2%
2024 · €223k
2018: €147k
2019: €147k
2020: €153k
2021: €158k
2022: €182k
2023: €224k
2024: €223k
2018 → 2025
Net result
€-452
2024 · €266
2018: €-33k
2019: €-1k
2020: €-92
2021: €2k
2022: €10k
2023: €18k
2024: €266
2018 → 2025
Working capital
€118k▼ 0.4%
2024 · €118k
2018: €115k
2019: €114k
2020: €113k
2021: €115k
2022: €100k
2023: €118k
2024: €118k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€115k-€125k▲ 8.7%€143k▲ 14.1%€143k▲ 0.2%€143k▼ 0.3%
Operating result€2k-€15k▲ 624%€28k▲ 77.6%€473▼ 98.3%€2k▲ 243%
Net result€2k-€10k▲ 428%€18k▲ 76.6%€266▼ 98.5%€-452
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 243% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €221k
Fixed assets
€25k=
Current assets
€196k▼ 1.3%
Equity and liabilities €221k
Equity
€143k▼ 0.3%
Debt
€78k▼ 2.7%
The debt ratio falls from 35.9% to 35.4%. Equity and debt are lower.
Key figures and ratios
Solvency
64.6%▲
2024 · 64.1%
Current ratio
2.51▲
2024 · 2.47
Quick ratio
2.51▲
2024 · 2.47
Debt / equity
0.55▼
2024 · 0.56
ROE
-0.3%▼
2024 · 0.2%
ROA
-0.2%▼
2024 · 0.1%
Debt
€78k▼
2024 · €80k
Debt ≤ 1 year
€78k▼
2024 · €80k
Income taxes
€2k▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€223k€221k▼
Fixed assets21/28€25k€25k=
Tangible fixed assets22/27€25k€25k=
Other tangible fixed assets26€25k€25k=
Current assets29/58€198k€196k▼
Amounts receivable within one year40/41€197k€196k▼
Trade receivables40€122k€136k▲
Other amounts receivable41€75k€60k▼
Cash at bank and in hand54/58€1k€35▼
Equity and liabilities
Total equity and liabilities10/49€223k€221k▼
Equity10/15€143k€143k▼
Contributions10/11€125k€125k=
Reserves13€18k€18k▼
Distributable reserves133€18k€18k▼
Amounts payable17/49€80k€78k▼
Amounts payable within one year42/48€80k€78k▼
Trade debts44€23k€30k▲
Suppliers440/4€23k€30k▲
Taxes, remuneration and social security45€24k€15k▼
Taxes450/3€24k€15k▼
Other amounts payable47/48€33k€33k=
Income statement
Code20242025
Other operating charges640/8€424€144▼
Gross operating margin9900€897€2k▲
Operating profit (loss)9901€473€2k▲
Financial charges65/66B€207€274▲
Recurring financial charges65€207€274▲
Profit (loss) for the period before taxes9903€266€1k▲
Income taxes67/77€0€2k▲
Profit (loss) for the period9904€266€-452▼
Profit (loss) for the period to be appropriated9905€266€-452▼
Appropriation of the result
Profit (loss) to be appropriated9906€266€-452▼
Profit (loss) brought forward from the previous period14P€0-
Transfer from equity791/2€0€452▲
Transfer to equity691/2€266€0▼
To other reserves6921€266€0▼
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
26-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €18k ▲76.6%
Operating result €28k, net result €18k, both a record.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
23-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 236 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Gent · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Hurstweg 89000 GentGround area
9,109 m²
Building footprint
6,654 m²
Volume, LiDAR
92,778 m³
Parcel 44807G0316/00B002, Flanders · tallest building 24.8 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
SPENCO
since 20032.133.531.727
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0316/00B002 | Flanders | 9,109 m² | 1 · 6,654 m² | 24.8 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
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Of 3,873 companies in sector 93199 we hold annual accounts for 606. 440 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-09-2003
Fiscal year end31-12
Activities, NACEBEL
92623
93199Other sports activities
70100Activities of head offices
74152
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.