SPIDECO
ActiveSummary
SPIDECO has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €122,475 and a net result of €54,258. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 29% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+11
Solvency52▼-6
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 2.09 against 2.55 in 2024; short-term debt: 28.7% and cash: 40.7% of total assets), but 72.6% of the assets are financed with debt.
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Signals
Six 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
27.4%
Return on assets
12.1%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €122,475
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
20 d early
2023
6 d late
2022
30 d late
2021
6 d early
2020
16 d early
2019
122 d 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 12 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#5 oldest company in Rixensart, Construction sector
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€54,258▲ 405%
2024 · €10,750
Working capital
€139,461▲ 59.5%
2024 · €87,418
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€46,897▼ 20.2%€19,631▼ 58.1%€33,447▲ 70.4%€19,037▼ 43.1%€77,359▲ 306%
Net result€31,525within the sector's middle half▼ 36.3%€10,493within the sector's middle half▼ 66.7%€17,894within the sector's middle half▲ 70.5%€10,750within the sector's middle half▼ 39.9%€54,258above the sector's middle half▲ 405%
Equity€108,080within the sector's middle half▼ 3.1%€126,503within the sector's middle half▲ 17.0%€107,467within the sector's middle half▼ 15.0%€108,217within the sector's middle half▲ 0.7%€122,475within the sector's middle half▲ 13.2%
Total assets€384,089within the sector's middle half▲ 2.8%€405,307within the sector's middle half▲ 5.5%€415,818within the sector's middle half▲ 2.6%€332,504within the sector's middle half▼ 20.0%€446,683above the sector's middle half▲ 34.3%
Debt€276,009▲ 5.4%€278,803▲ 1.0%€308,351▲ 10.6%€224,287▼ 27.3%€324,208▲ 44.6%
Working capital€77,204▲ 12.8%€139,821▲ 81.1%€57,201▼ 59.1%€87,418▲ 52.8%€139,461▲ 59.5%
Solvency28.1%within the sector's middle half▼ 1.7pp31.2%within the sector's middle half▲ 3.1pp25.8%within the sector's middle half▼ 5.4pp32.5%within the sector's middle half▲ 6.7pp27.4%within the sector's middle half▼ 5.1pp
Staff (FTE)1below the sector's middle half▲ 150%1below the sector's middle half=1below the sector's middle half=1.1below the sector's middle half▲ 10.0%1.2▲ 9.1%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 306% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €446,683
Fixed assets
€178,869 ▼ 5.1%
Current assets
€267,814 ▲ 86.1%
Equity and liabilities €446,683
Equity
€122,475 ▲ 13.2%
Debt
€324,208 ▲ 44.6%
Debt's share of the balance-sheet total rises from 67.5% to 72.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€94,399▲
2024 · €38,679
Cash flow
€71,298▲
2024 · €30,392
Current ratio
2.09▼
2024 · 2.55
Quick ratio
1.67▲
2024 · 1.56
Debt to equity
2.65▲
2024 · 2.07
ROE
44.3%▲
2024 · 9.9%
ROA
12.1%▲
2024 · 3.2%
Interest coverage
20.80▲
2024 · 8.04
Debt ≤ 1 year
€128,353▲
2024 · €56,528
Debt > 1 year
€131,401▼
2024 · €144,482
Income taxes
€18,566▲
2024 · €3,479
Staff costs
€42,532▼
2024 · €42,763
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,815 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,815 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €24,097 | €26,841 | €31,723 | €42,763 | €42,532 | ▼ 0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,792 | €19,119 | €18,296 | €19,642 | €17,040 | ▼ 13.2% |
| Other operating charges640/8 | €1,970 | €1,967 | €2,498 | €2,298 | €2,060 | ▼ 10.4% |
| Gross operating margin9900 | €91,756 | €67,558 | €85,964 | €83,740 | €138,991 | ▲ 66.0% |
| Operating profit (loss)9901 | €46,897 | €19,631 | €33,447 | €19,037 | €77,359 | ▲ 306% |
| Financial income75/76B | - | €35 | €2 | €1 | €3 | ▲ 341% |
| Recurring financial income75 | - | €35 | €2 | €1 | €3 | ▲ 341% |
| Financial charges65/66B | €5,740 | €5,470 | €5,127 | €4,808 | €4,538 | ▼ 5.6% |
| Recurring financial charges65 | €5,740 | €5,470 | €5,127 | €4,808 | €4,538 | ▼ 5.6% |
| Profit (loss) for the period before taxes9903 | €41,157 | €14,196 | €28,321 | €14,229 | €72,824 | ▲ 412% |
| Income taxes67/77 | €9,632 | €3,703 | €10,428 | €3,479 | €18,566 | ▲ 434% |
| Profit (loss) for the period9904 | €31,525 | €10,493 | €17,894 | €10,750 | €54,258 | ▲ 405% |
| Profit (loss) for the period to be appropriated9905 | €31,525 | €10,493 | €17,894 | €10,750 | €54,258 | ▲ 405% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €384,089 | €405,307 | €415,818 | €332,504 | €446,683 | ▲ 34.3% |
| Fixed assets21/28 | €225,193 | €206,074 | €207,496 | €188,558 | €178,869 | ▼ 5.1% |
| Intangible fixed assets21 | - | - | €911 | €1,383 | €1,665 | ▲ 20.4% |
| Tangible fixed assets22/27 | €225,028 | €205,909 | €206,421 | €187,011 | €177,039 | ▼ 5.3% |
| Land and buildings22 | €206,371 | €193,496 | €180,621 | €167,747 | €154,872 | ▼ 7.7% |
| Plant, machinery and equipment23 | €2,598 | €1,414 | €1,501 | €738 | €1,039 | ▲ 40.8% |
| Furniture and vehicles24 | €11,321 | €7,091 | €4,292 | €1,072 | €1,258 | ▲ 17.4% |
| Other tangible fixed assets26 | €4,739 | €3,908 | €20,007 | €17,454 | €19,870 | ▲ 13.8% |
| Financial fixed assets28 | €165 | €165 | €165 | €165 | €165 | ▲ 0.3% |
| Current assets29/58 | €158,897 | €199,233 | €208,321 | €143,946 | €267,814 | ▲ 86.1% |
| Stocks and contracts in progress3 | €76,935 | €67,866 | €63,508 | €55,961 | €53,854 | ▼ 3.8% |
| Stocks30/36 | €76,935 | €67,866 | €63,508 | €55,961 | €53,854 | ▼ 3.8% |
| Amounts receivable within one year40/41 | €16,340 | €26,696 | €47,948 | €18,540 | €29,665 | ▲ 60.0% |
| Trade receivables40 | €14,719 | €14,482 | €47,660 | €11,808 | €29,413 | ▲ 149% |
| Other amounts receivable41 | €1,622 | €12,214 | €289 | €6,732 | €252 | ▼ 96.3% |
| Cash at bank and in hand54/58 | €64,482 | €103,526 | €95,631 | €67,277 | €181,964 | ▲ 170% |
| Deferred charges and accrued income490/1 | €1,139 | €1,145 | €1,234 | €2,168 | €2,331 | ▲ 7.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €384,089 | €405,307 | €415,818 | €332,504 | €446,683 | ▲ 34.3% |
| Equity10/15 | €108,080 | €126,503 | €107,467 | €108,217 | €122,475 | ▲ 13.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €88,378 | €9,078 | €88,378 | €88,378 | €88,378 | = |
| Non-distributable reserves130/1 | €4,278 | €4,278 | €2,418 | €2,418 | €2,418 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Other1319 | €2,418 | €2,418 | €2,418 | €2,418 | €2,418 | = |
| Distributable reserves133 | €84,100 | €4,800 | €85,960 | €85,960 | €85,960 | = |
| Profit (loss) carried forward14 | €1,103 | €98,826 | €489 | €1,239 | €15,497 | ▲ 1,151% |
| Amounts payable17/49 | €276,009 | €278,803 | €308,351 | €224,287 | €324,208 | ▲ 44.6% |
| Amounts payable after more than one year17 | €182,190 | €169,655 | €157,230 | €144,482 | €131,401 | ▼ 9.1% |
| Financial debts170/4 | €182,190 | €169,655 | €157,230 | €144,482 | €131,401 | ▼ 9.1% |
| Amounts payable within one year42/48 | €81,692 | €59,412 | €151,121 | €56,528 | €128,353 | ▲ 127% |
| Current portion of amounts payable after more than one year42 | €17,807 | €13,468 | €13,358 | €13,681 | €14,014 | ▲ 2.4% |
| Trade debts44 | €49,264 | €37,622 | €53,163 | €27,882 | €57,861 | ▲ 108% |
| Suppliers440/4 | €49,264 | €37,622 | €53,163 | €27,882 | €57,861 | ▲ 108% |
| Advances received on contracts in progress46 | - | - | €49,820 | - | - | - |
| Taxes, remuneration and social security45 | €14,066 | €6,898 | €5,770 | €4,965 | €16,213 | ▲ 227% |
| Taxes450/3 | €12,109 | €5,679 | €2,863 | €1,514 | €10,882 | ▲ 619% |
| Remuneration and social security454/9 | €1,957 | €1,219 | €2,908 | €3,451 | €5,331 | ▲ 54.5% |
| Other amounts payable47/48 | €555 | €1,423 | €29,009 | €10,000 | €40,265 | ▲ 303% |
| Accrued charges and deferred income492/3 | €12,126 | €49,737 | - | €23,278 | €64,454 | ▲ 177% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,525 | €10,493 | €17,894 | €10,750 | €54,258 | ▲ 405% |
| + Depreciation and write-downs630 | €18,792 | €19,119 | €18,296 | €19,642 | €17,040 | ▼ 13.2% |
| Operating cash flow (approximation) | €50,317 | €29,612 | €36,190 | €30,392 | €71,298 | ▲ 135% |
| Investment in fixed assets (approximation) | - | €0 | -€19,718 | -€704 | -€7,351 | ▼ 944% |
| Change in cash | - | €39,044 | -€7,895 | -€28,354 | €114,687 | ▲ 504% |
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
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €54,258 ▲405%
Operating result €77,359, net result €54,258, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
06-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 6 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €49,457
Net result €49,457 after one loss-making year.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
16-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 169 days late
2019
31-12
Financial
Weakest financial yearnet -€48,121
Net result drops to -€48,121, the lowest in the series; recovery starts the following year.
21-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 205 days late
2017
18-12
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 140 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Rixensart · 1 establishment unit since 1986
Ground area
1,676 m²
Building footprint
171 m²
Volume, LiDAR
1,205 m³
Parcel 25091G0218/00E000, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SPIDECO SC
since 19862.034.564.013
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25091G0218/00E000 | Wallonia | 1,676 m² | 1 · 171 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersChain of control
- Manaliz
- SPIDECO
Highest known parent: Manaliz. The sources do not say who stands above it.
Owners 2
- ManalizparentSourceaccounts Manaliz 2024100%
- ARCHI FULLparent99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,708 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
Founded10-05-1986
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
31004Manufacture of dining room, living room, bedroom and bathroom furniture
Contact
E-mail
info@spideco.com
Phone
0475/258751Rixensart
E-invoicing
Reachable via Peppol
Peppol ID
0208:0429456414
Also
9925:BE0429456414
Registered
02-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.