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SPI.R0

Active
Public limited companyfounded 2024active for 2 yearsTragel 60, 9308 Aalst, Belgium106 active companies are registered at this addressKBO/BCE: BE 1013.725.521
Summary

SPI.R0 has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61,500 and a net result of €0. Its solvency ranks better than 14% of 5,766 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisFollow ReportCompare
SPI.R0ActiveChecked score 83/100
Risk analysis ReportCompare

Overview

Activity
Development of residential building projects
NACE 68121
3rd largest company by total assets in Aalst, Real estate sector1 site
Size
€156.0mtotal assets 2025
Equity
€61,500
Profit
€0
Financial health
83 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Structure
Parent
SPI.R0HoldCo · 90%
Board
8 members
Auditor: BDO Bedrijfsrevisoren bv2025 accounts 16 days early
Why 83raises riskLiquidity: current ratio 23.55, cash €231,016Founded in 2024lowers riskSector: Real estate activities (NACE 68)Size: total assets €156.0mShow the evidence

Checked score

Score 2025
83 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 31% of its sector peers (NACE 68, large)
Every signal that counts is listed under Signals.
Financial strength
Weak
Solvency 25
equity 0.0% of total assets
Liquidity 50
short-term debt 4.2% · cash 0.1%
Profitability 38
return on assets 0.0%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (318 companies, NACE 68, large)
Last 24 months 10-2025: 0.6% 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.7%▲ +0.1 percentage points vs 02-2026 04-2026: 0.8%▲ +0.1 percentage points vs 03-2026highest value 05-2026: 0.8%● unchanged vs 04-2026highest value 06-2026: 0.8%● unchanged vs 05-2026 07-2026: 0.8%● unchanged vs 06-2026 08-2026: 0.3%▼ -0.5 percentage points vs 07-2026lowest value 09-2026: 0.3%● unchanged vs 08-2026 10-2026: 0.3%● unchanged vs 09-2026
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity ample (current ratio 23.55, above the usual 1.5; short-term debt: 4.2% and cash: 0.1% of total assets), but 100% 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 68, large): better than 7% on solvency, 50% on liquidity and 36% on profitability.

The bankruptcy probability was computed on 26-10-2026 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

Six signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 23.55, cash €231,016
NBB · annual accounts
lowers risk · Sector: Real estate activities (NACE 68)
KBO
lowers risk · Size: total assets €156.0m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Founded in 2024
Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.
KBO
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 5766 sector peers (2025).
NBB · sector comparison
Position among 5766 sector peers
Solvency
better than 14%
← weakest strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 1 filing
Deviation from the deadline
2025
16 days early
← before the deadline after the deadline →
Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since incorporation in 2024.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Appointment: BDO Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Sam Vander Vennet
  3. IncorporationAppointments: Hanne Maria Jozef AKKERMANS…

Key points

  • Caution: Among the weakest 14% on solvencysector median 38.3% · 5,766 companies 0.0% View
  • Controlled by SPI.R0HoldCoknown shareholders 100% 90% View
  • Board8 directors in office 8 View

By topic

Financials

Financial year
2025
Total assets
€156.0m
Profit
€0
Solvency
0.0%
Go to Financials

Board & ownership

Board
8 members
Parent
SPI.R0HoldCo · 90%
Known shareholders
100%
Auditor
BDO Bedrijfsrevisoren bv
  • Hanne Maria Jozef AKKERMANSDirector
  • Karoy Christian Bernardus HORNYAKDirector
  • Libert CharlesDirector
  • Paul François LIEVENSDirector
  • Quercus Sylvestris ConsultingDirector

and 3 other directors

Go to Board & ownership

Company details

Sites
1
Legal form
Public limited company
Activity
Development of residential building projectsNACE 68121
Founded
18-09-2024
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Key facts about SPI.R0

What is the company number of SPI.R0?
1013.725.521. In Belgium the VAT number is the company number with BE in front: BE 1013.725.521.
Where is SPI.R0 based?
The registered office is at Tragel 60, 9308 Aalst.Company details
What does SPI.R0 do?
According to the KBO register, the main activity is development of residential building projects (NACE 68121).
What is the legal form of SPI.R0?
Public limited company (NV).
When was SPI.R0 founded?
On 18-09-2024.
Is SPI.R0 still active?
Yes, SPI.R0 is an active enterprise in the KBO register.
What is the turnover of SPI.R0?
Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
Is SPI.R0 profitable?
In financial year 2025, SPI.R0 made a profit of €0.
Where can I find the annual accounts of SPI.R0?
SPI.R0 filed 1 annual account with the National Bank of Belgium, for financial year 2025.

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