SPIDERWEB
ActiveSummary
SPIDERWEB has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€147,825) and a net result of -€154,133. Equity has been shrinking by about 28% per year since 2018. Its solvency ranks better than 16% of 1,121 sector peers (NACE 18, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-02-2006 Normal situation
- Activity
- Pre-press and pre-media services NACE 18130and 3 others
- Establishment unit
- 2.152.028.241 8310 Brugge, since 03-03-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 12-12-2025
Board and ownership
- Coppens ToonDirector · since 22-02-2006
- Geerinck AstridDirector · since 01-07-2008
- Holdings
- Shares in 1 company Polly Coop
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- Gross margin
- €102,153
- ▼ 14.9%
- Turnover
- ≈ €260,000
- estimated
- Loss
- €154,133
- ▲ 431%
- Equity
- -€147,825
- Total assets
- €5.2m
- ▲ 7.2%
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€147,825Liquidity: current ratio 12.05, cash €136,184lowers riskSize: total assets €5.2mFounded in 2006Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 18, small). It does better than 4% of them on solvency, 66% on liquidity, 14% on profitability and 1% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 82 days after the deadline. In the sector (NACE 18), the median for financial year 2024 was 5 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 20-05-2026 PDF all 19 filings
Amounts without an identifiable currency are taken as euros.
Every figure per financial year
The operating result for 2025 is a loss of €163,996, larger than the loss of €28,263 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | €730,000 | - | €730,000 | €730,000 | €730,000 |
| Carrying value of the other pledged assets | €2.2m | - | €2.1m | €1.9m | €1.8m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1.0m | €238,547 | €287,479 | €2,080 | €2,061 |
| Financial fixed assets | - | - | - | - | €34,045 |
| Depreciation and write-downs of the year | €164,787 | €131,428 | €220,268 | €140,060 | €135,532 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 2 entries · €7,302 awarded · €6,999 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €0 | €6,999 |
| 2022 | 1 | €7,302 | €0 |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0 | - | €60,680 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,629 | €37,500 | €141,783 | €164,787 | €131,428 | €220,268 | €140,060 | €135,532 | ▼ 3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €124,745 | - |
| Other operating charges640/8 | - | - | - | €17,989 | €45,120 | €6,649 | €8,224 | €5,871 | ▼ 28.6% |
| Non-recurring operating charges66A | - | - | - | €9,762 | €1,607 | €7,420 | €0 | - | - |
| Gross operating margin9900 | -€13,188 | -€20,607 | €515,436 | €129,700 | -€65,088 | €12,787 | €120,020 | €102,153 | ▼ 14.9% |
| Operating profit (loss)9901 | -€35,475 | -€65,697 | €312,807 | -€62,837 | -€243,244 | -€221,550 | -€28,263 | -€163,996 | ▼ 480% |
| Financial income75/76B | - | - | - | €22,752 | €1,083 | €1,127 | €1,173 | €10,706 | ▲ 812% |
| Recurring financial income75 | €937 | €974 | €1,001 | €1,074 | €1,083 | €1,127 | €1,173 | €10,706 | ▲ 812% |
| Non-recurring financial income76B | - | - | - | €21,678 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €3,853 | €7,166 | €2,045 | €1,478 | €295 | ▼ 80.0% |
| Recurring financial charges65 | €14,244 | €11,637 | €10,244 | €3,853 | €7,166 | €2,045 | €1,478 | €295 | ▼ 80.0% |
| Profit (loss) for the period before taxes9903 | -€48,782 | -€76,361 | €316,800 | -€43,939 | -€249,327 | -€222,468 | -€28,568 | -€153,584 | ▼ 438% |
| Income taxes67/77 | €570 | €679 | €405 | €3,584 | €17,868 | €4,714 | €462 | €549 | ▲ 18.8% |
| Profit (loss) for the period9904 | -€49,352 | -€77,040 | €316,395 | -€47,522 | -€267,195 | -€227,182 | -€29,030 | -€154,133 | ▼ 431% |
| Transfer from tax-exempt reserves789 | - | - | - | €20,863 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€49,924 | -€77,565 | €316,395 | -€26,659 | -€267,195 | -€227,182 | -€29,030 | -€154,133 | ▼ 431% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.8m | €4.4m | €3.9m | €4.5m | €4.7m | €4.8m | €4.9m | €5.2m | ▲ 7.2% |
| Formation expenses20 | €0 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €3.7m | €4.2m | €3.6m | €4.4m | €4.5m | €4.6m | €4.5m | €4.4m | ▼ 2.2% |
| Intangible fixed assets21 | €0 | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €3.7m | €4.2m | €3.6m | €4.4m | €4.5m | €4.6m | €4.5m | €4.3m | ▼ 3.0% |
| Land and buildings22 | - | - | - | €4.3m | €4.4m | €4.4m | €4.4m | €4.3m | ▼ 2.6% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.006m | €0.003m | €0.001m | €296 | ▼ 75.9% |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.06m | €0.1m | €0.09m | €0.07m | ▼ 23.1% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.03m | ▲ 69× |
| Current assets29/58 | €0.09m | €0.2m | €0.3m | €0.1m | €0.2m | €0.2m | €0.4m | €0.8m | ▲ 114% |
| Amounts receivable after more than one year29 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.6m | ▲ 19× |
| Other amounts receivable291 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.6m | ▲ 19× |
| Stocks and contracts in progress3 | €0 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.03m | €0.1m | €0.2m | €0.07m | €0.2m | €0.2m | €0.3m | €0.07m | ▼ 72.8% |
| Trade receivables40 | - | - | - | €0.04m | €0.1m | €0.2m | €0.2m | €0.05m | ▼ 79.6% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.03m | €0.01m | €0.04m | €0.03m | ▼ 39.1% |
| Current investments50/53 | €0 | €0 | €0 | - | - | - | €0.06m | €0.07m | ▲ 4.0% |
| Cash at bank and in hand54/58 | €0.02m | €0.03m | €0.1m | €0.02m | €0.009m | €0.004m | €0.03m | €0.1m | ▲ 358% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.003m | €0.003m | €0.008m | €0.008m | ▼ 0.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.8m | €4.4m | €3.9m | €4.5m | €4.7m | €4.8m | €4.9m | €5.2m | ▲ 7.2% |
| Equity10/15 | €0.3m | €0.3m | €0.6m | €0.5m | €0.3m | €0.04m | €0.006m | -€0.1m | - |
| Contributions10/11 | €0.4m | €0.4m | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | = |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Reserves not available under the articles1311 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Tax-exempt reserves132 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | -€0.06m | -€0.1m | €0.2m | €0.2m | -€0.1m | -€0.3m | -€0.4m | -€0.5m | ▼ 41.5% |
| Amounts payable17/49 | €3.4m | €4.1m | €3.3m | €4.0m | €4.4m | €4.7m | €4.9m | €5.4m | ▲ 10.4% |
| Amounts payable after more than one year17 | €3.3m | €4.0m | €3.1m | €3.8m | €4.3m | €4.6m | €4.8m | €5.3m | ▲ 11.2% |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.03m | €0 | - | - |
| Other amounts payable178/9 | - | - | - | €3.7m | €4.2m | €4.6m | €4.8m | €5.3m | ▲ 11.2% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.07m | ▼ 28.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.06m | €0.03m | ▼ 59.2% |
| Trade debts44 | €0.03m | - | €0.04m | €0.008m | €0 | - | €0.02m | €0.02m | ▲ 31.0% |
| Suppliers440/4 | - | - | - | €0.008m | €0 | - | €0.02m | €0.02m | ▲ 31.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.008m | €0.01m | €0.007m | €0.006m | ▼ 12.3% |
| Taxes450/3 | - | - | - | €0.007m | €0.008m | €0.01m | €0.007m | €0.006m | ▼ 12.3% |
| Other amounts payable47/48 | - | - | - | €0.002m | €0.02m | €0.01m | €0.01m | €0.02m | ▲ 58.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.003m | €0.002m | €0.002m | €0.002m | ▼ 1.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€49,352 | -€77,040 | €316,395 | -€47,522 | -€267,195 | -€227,182 | -€29,030 | -€154,133 | ▼ 431% |
| + Depreciation and write-downs630 | €15,629 | €37,500 | €141,783 | €164,787 | €131,428 | €220,268 | €140,060 | €135,532 | ▼ 3.2% |
| Operating cash flow (approximation) | -€33,723 | -€39,540 | €458,178 | €117,265 | -€135,766 | -€6,914 | €111,030 | -€18,601 | - |
| Investment in fixed assets (approximation) | - | -€500,221 | €464,267 | -€992,469 | -€236,940 | -€287,479 | -€62,759 | -€36,105 | ▲ 42.5% |
| Change in cash | - | €10,631 | €77,835 | -€89,702 | -€8,361 | -€4,582 | €25,375 | €106,442 | ▲ 319% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,242 companies had the same profile as SPIDERWEB has now. Two years later, 92.8% were still going and 1.9% had gone bankrupt.
- Small
- 20 years or older
- negative equity
- a small loss
Another 1.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SPIDERWEB itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,242 companies, not a prediction for SPIDERWEB. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-05-2026 | 2026-00118907 | |
| 31-12-2024 | micro format | 25-09-2025 | 2025-00510649 | |
| 31-12-2023 | micro format | 14-10-2024 | 2024-00507391 | |
| 31-12-2022 | micro format | 24-11-2023 | 2023-00518171 | |
| 31-12-2021 | micro format | 30-12-2022 | 2023-20551184 | |
| 31-12-2020 | micro format | 29-11-2021 | 2021-78700271 | |
| 31-12-2019 | micro format | 07-12-2020 | 2020-74800335 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-58200096 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-57600466 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-57000037 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Coppens Toon |
|
| Geerinck Astrid |
|
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
-
33.33%
Board mandates elsewhere
1 board mandateConnections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank