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SPETSAI

Active
Public limited companyfounded 1997active for 29 yearsMolenstraat 8, 9270 Laarne, BelgiumKBO/BCE: BE 0461.141.958
Summary

SPETSAI has been active since 1997 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.8m and a net result of €461,658. Equity is growing by about 6.3% per year across the filed financial years. Its solvency ranks better than 36% of 22,576 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisFollow ReportCompare
SPETSAIActiveChecked score 93/100
Risk analysis ReportCompare

Overview

Activity
Retail sale of other cultural and recreation goods
NACE 47690
Largest company by total assets in Laarne, Wholesale and retail trade sector1 site
Size
€16.0mtotal assets 2025
Equity
€2.8m
Profit
€461,658
Net result +438%: 12-month year
Financial health
93 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.1%
Structure
Holdings
1
2025 accounts filed 27 days late4 of 11 deeds summarised
Why 93raises riskLiquidity: current ratio 26.29, cash €161,634, halvedSector: Retail trade (NACE 47)lowers riskSize: total assets €16.0mFounded in 1997Show the evidence

Checked score

Score 2025
93 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 61% of its sector peers (NACE 47, medium-sized)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Average
Solvency 42+4
equity 17.3% of total assets
Liquidity 51-9
short-term debt 1.8% · cash 1.0%
Profitability 61+32
return on assets 2.9%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.5% (383 companies, NACE 47, medium-sized)
Last 24 months 11-2024: 0.9% 12-2024: 0.9%● unchanged vs 11-2024 01-2025: 0.9%● unchanged vs 12-2024 02-2025: 0.9%● unchanged vs 01-2025 03-2025: 0.9%● unchanged vs 02-2025 04-2025: 0.9%● unchanged vs 03-2025 05-2025: 0.9%● unchanged vs 04-2025 06-2025: 0.9%● unchanged vs 05-2025 07-2025: 0.9%● unchanged vs 06-2025 08-2025: 0.9%● unchanged vs 07-2025 09-2025: 0.9%● unchanged vs 08-2025 10-2025: 1.0%▲ +0.1 percentage points vs 09-2025 11-2025: 1.1%▲ +0.1 percentage points vs 10-2025 12-2025: 1.2%▲ +0.1 percentage points vs 11-2025 01-2026: 1.4%▲ +0.2 percentage points vs 12-2025highest value 02-2026: 0.7%▼ -0.7 percentage points vs 01-2026 03-2026: 0.3%▼ -0.4 percentage points vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.1%▼ -0.2 percentage points vs 04-2026lowest value 06-2026: 0.1%● unchanged vs 05-2026lowest value 07-2026: 0.1%● unchanged vs 06-2026lowest value 08-2026: 0.1%● unchanged vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026
Credit of up to €250,000 on 30-day terms is acceptable
Liquidity ample (current ratio 26.29, compared with 8.84 in 2024, above the usual 1.5; short-term debt: 1.8% and cash: 1% of total assets), but 82.7% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, medium-sized): better than 39% on solvency, 75% on liquidity, 54% on profitability and 76% on growth.

The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises risk
lowers risk · Size: total assets €16.0m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 26.29, cash €161,634, halved
NBB · annual accounts
raises risk · Sector: Retail trade (NACE 47)
KBO
lowers risk · Founded in 1997
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · 2025 accounts filed 27 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-02-2026, 27 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 9 filings
Deviation from the deadline
2025
27 days late
2024
99 days early
2023
on the day
2022
27 days early
2021
85 days early
2020
4 days early
2019
60 days 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 before the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today.
Companies Code · seven months
Where today falls in the filing period
30-06-2026 year end26-10-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Appointments: Stephan VANDEVOORT (director) and Wim…Power of attorney
  2. Annual accounts filedfinancial year 2025 · micro…
  3. Annual accounts filedfinancial year 2021 · full…

Key points

  • Result rose in 202512-month financial year ▲ 438% View
  • Positive: Largest company by total assets in Laarne, Wholesale and retail trade sectorin the Checked rankings No. 1 View
  • New directorslatest change 16-06-2026 · 2 in office 2 joined View
  • Positive: 6 profitable years in a rowprofit 2025: €461,658 6 years View
  • Flemish supportawarded from 2022 to 2024 €58,870 View

By topic

Financials

Financial year
2025
Total assets
€16.0m
Profit
€461,658
Solvency
17.3%
Total assets▼ 10.0%
Net result
20192025
Go to Financials

Timeline

Events
35
Since
1999
Next accounts
by 31-01-2027
  1. 30-06-2025Liquidity more than doubled
  2. 24-10-2024Annual accounts filed
  3. 13-09-2024Algemene Vergadering - Boekjaar
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Retail sale of other cultural and recreation goodsNACE 47690
Founded
14-07-1997
Year ends
30-06
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
44
Annual meeting
First Monday of December at 17:00
Purpose
“Het coördineren van handelingen op het ontwikkelen,bouwen en doen bouwen van bouwprojecten…” (deed in Dutch)
Go to Articles of association

Key facts about SPETSAI

What is the company number of SPETSAI?
0461.141.958. In Belgium the VAT number is the company number with BE in front: BE 0461.141.958.
Where is SPETSAI based?
The registered office is at Molenstraat 8, 9270 Laarne.Company details
What does SPETSAI do?
According to the KBO register, the main activity is retail sale of other cultural and recreation goods (NACE 47690).
What is the legal form of SPETSAI?
Public limited company (NV).
When was SPETSAI founded?
On 14-07-1997.
Is SPETSAI still active?
Yes, SPETSAI is an active enterprise in the KBO register.
What is the turnover of SPETSAI?
Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
Is SPETSAI profitable?
In financial year 2025, SPETSAI made a profit of €461,658.
Where can I find the annual accounts of SPETSAI?
SPETSAI filed 25 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of SPETSAI due?
By 31-01-2027, for financial year 2026.Timeline

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