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SPIE BELGIUM

Active
Public limited companyfounded 1988active for 38 yearsTweestationsstraat 150, 1070 Anderlecht, BelgiumKBO/BCE: BE 0434.499.028

From the official registers: KBO 55 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

SPIE BELGIUM has been active since 1988 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60.8m and a net result of €13.1m. Equity has been growing by about 8.8% per year since 2018. Its solvency ranks better than 23% of 2,445 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Overview

Official details

KBO
Status
Active since 27-06-1988 Normal situation
Registered office
23 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 1 November 2026.
Activity
Other specialised construction activities NACE 43990and 5 others
Establishment units
14 establishment units
Financial year end
31 December
Peppol
Reachable since 04-02-2026

Board and ownership

Board
Auditor
EY Bedrijfsrevisoren
Shareholders
and 1 other shareholder

Financial position

91 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Annual accounts 2025
Turnover
€375.6m
▲ 8.3%
Profit
€13.1m
Equity
€60.8m
▲ 9.8%
Total assets
€274.7m
▲ 9.1%
Staff
1,375.4 FTE
▼ 1.0%
Filed on 26-05-2026, 66 days before the deadlinePDF
Score breakdownraises riskSector: Specialised construction activities (NACE 43)Equity €60.8m (22.1% of total assets)lowers riskLiquidity: current ratio 1.25, cash €152.4mSize: turnover €375.6m, 1,375.4 FTE, total assets €274.7mShow the evidence

Checked score

Score 2025
91 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 57% of large companies in specialised construction (NACE 43)
Financial strength · tick: 2024
Average
Solvency 47=
equity 22.1% of total assets
Liquidity 59-1
short-term debt 76.0% · cash 55.5%
Profitability 64+16
return on assets 4.8%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (35 companies, NACE 43, large)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.5%▲ +0.3 percentage points vs 05-2025highest value 07-2025: 0.5%● unchanged vs 06-2025highest value 08-2025: 0.5%● unchanged vs 07-2025highest value 09-2025: 0.5%● unchanged vs 08-2025highest value 10-2025: 0.5%● unchanged vs 09-2025highest value 11-2025: 0.5%● unchanged vs 10-2025highest value 12-2025: 0.5%● unchanged vs 11-2025highest value 01-2026: 0.5%● unchanged vs 12-2025highest value 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.2%▼ -0.3 percentage points vs 05-2026lowest value 07-2026: 0.2%● unchanged vs 06-2026lowest value 08-2026: 0.2%● unchanged vs 07-2026lowest value 09-2026: 0.2%● unchanged vs 08-2026lowest value 10-2026: 0.2%● unchanged vs 09-2026lowest value
Credit of up to €5,500,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.25 (1.26 in 2024), below the usual 1.5. Short-term debt is 76% and cash 55.5% of total assets. 77.9% of the assets are financed with debt and provisions.
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 43, large). It does better than 41% of them on solvency, 97% on liquidity, 38% on profitability and 53% on growth.

The bankruptcy probability was computed on 31-10-2026 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. 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

Six signals.
lowers riskraises riskneutral
raises risk · Sector: Specialised construction activities (NACE 43)
KBO
raises risk · Equity €60.8m (22.1% of total assets)
NBB · annual accounts
lowers risk · Liquidity: current ratio 1.25, cash €152.4m
NBB · annual accounts
lowers risk · Size: turnover €375.6m, 1,375.4 FTE, total assets €274.7m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 2445 sector peers (2025).
NBB · sector comparison
Position among 2445 sector peers
Solvency
better than 23%
← 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 26-05-2026, 66 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
66 days early
2024
70 days early
2023
61 days early
2022
69 days early
2021
51 days early
2020
57 days early
2019
39 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 59 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • Positive: Back in profit in 2025after a loss of €21.0m in 2024 €13.1m View
  • Positive: Largest employer in Belgium, Specialised construction sectorin the Checked rankings No. 1 View
  • Positive: 5 years of growth in a rowturnover 2025: €375.6m 5 years View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Merger with Elerepmerger on 27-05-2026 2026 View
  • Board changedlatest change 01-05-2026 · 4 in office 1 joined · 1 left View
  • Flemish supportawarded from 2022 to 2025 €341,808 View

Comparable companies

These companies have the same main activity as SPIE BELGIUM: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €46m and €792m, founded between 1955 and 1998.

CompanyTotal assetsTurnover
SPIE BELGIUM Anderlecht€274.7m€375.6m
Denys Gent€528.9m€506.3m
RENOTEC Geel€89.6m€241.0m
SOCOGETRA Marche-en-Famenne€132.9m€147.3m
SARENS Meise€791.7m€352.0m
FRANKI FOUNDATIONS BELGIUM Tubize€111.4m€78.2m
ETS E. RONVEAUX Ciney€45.8m€76.5m
Full comparison

Documents

Annual accounts at the NBB

All 55 annual accounts

Articles and registers

Key facts about SPIE BELGIUM

What is the company number of SPIE BELGIUM?
The company number of SPIE BELGIUM is 0434.499.028. The VAT number is the same number with BE in front: BE 0434.499.028.
Where is SPIE BELGIUM based?
The registered office is at Tweestationsstraat 150, 1070 Anderlecht.Company details
What does SPIE BELGIUM do?
According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
What is the legal form of SPIE BELGIUM?
The legal form of SPIE BELGIUM is Public limited company (NV).
When was SPIE BELGIUM founded?
SPIE BELGIUM was founded on 27-06-1988.
Is SPIE BELGIUM still active?
Yes, SPIE BELGIUM is an active enterprise in the KBO register.
How many employees does SPIE BELGIUM have?
SPIE BELGIUM had an average of 1,375.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of SPIE BELGIUM?
The turnover of SPIE BELGIUM was €375.6m in financial year 2025, according to the filed annual accounts.
Is SPIE BELGIUM profitable?
In financial year 2025, SPIE BELGIUM made a profit of €13.1m.
Where can I find the annual accounts of SPIE BELGIUM?
SPIE BELGIUM filed 55 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts 2025 (PDF)
When are the next annual accounts of SPIE BELGIUM due?
SPIE BELGIUM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline

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