SPIES
ActiveSPIES has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39k and a net result of €5k. Equity is growing by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 51% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▲+44
Solvency73▼-19
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.92 against 1.45 in 2024; short-term debt: 32.4% and cash: 23.6% of total assets), and 51.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 43
higher
← 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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-12-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
15 d early
2023
41 d early
2022
on the day
2021
on the day
2020
2 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close21-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€39k▲ 13.9%
2024 · €34k
2019: €27k
2020: €29k
2021: €30k
2022: €34k
2023: €35k
2024: €34k
2019 → 2025
Total assets
€80k▲ 57.3%
2024 · €51k
2019: €51k
2020: €59k
2021: €57k
2022: €50k
2023: €54k
2024: €51k
2019 → 2025
Net result
€5k
2024 · €-1k
2019: €2k
2020: €2k
2021: €779
2022: €4k
2023: €1k
2024: €-1k
2019 → 2025
Working capital
€-2k
2024 · €8k
2019: €22k
2020: €23k
2021: €-7k
2022: €204
2023: €12k
2024: €8k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€30k-€34k▲ 13.2%€35k▲ 4.3%€34k▼ 2.9%€39k▲ 13.9%
Operating result€2k-€6k▲ 235%€3k▼ 55.0%€-3k€7k
Net result€779-€4k▲ 401%€1k▼ 63.3%€-1k€5k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €7k after a loss of €3k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €80k
Fixed assets
€56k▲ 113%
Current assets
€24k▼ 2.3%
Equity and liabilities €80k
Equity
€39k▲ 13.9%
Debt
€41k▲ 145%
The debt ratio rises from 33.2% to 51.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€14k▲
2024 · €3k
Cash flow
€12k▲
2024 · €5k
Solvency
48.4%▼
2024 · 66.8%
Current ratio
0.92▼
2024 · 1.45
Quick ratio
0.86▲
2024 · 0.71
Debt / equity
1.07▲
2024 · 0.50
ROE
12.2%▲
2024 · -3.0%
ROA
5.9%▲
2024 · -2.0%
Interest coverage
12.25▲
2024 · -28.91
Debt
€41k▲
2024 · €17k
Debt ≤ 1 year
€26k▲
2024 · €17k
Debt > 1 year
€15k▲
2024 · €0
Income taxes
€2k▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€51k€80k▲
Fixed assets21/28€26k€56k▲
Tangible fixed assets22/27€26k€56k▲
Land and buildings22€26k€21k▼
Furniture and vehicles24€766€35k▲
Current assets29/58€24k€24k▼
Stocks and contracts in progress3€13k€2k▼
Stocks30/36€2k€2k▼
Contracts in progress37€11k€0▼
Amounts receivable within one year40/41€6k€3k▼
Trade receivables40€1k€0▼
Other amounts receivable41€5k€3k▼
Cash at bank and in hand54/58€5k€19k▲
Deferred charges and accrued income490/1€154€466▲
Equity and liabilities
Total equity and liabilities10/49€51k€80k▲
Equity10/15€34k€39k▲
Contributions10/11€12k€12k=
Reserves13€22k€26k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€22k€26k▲
Amounts payable17/49€17k€41k▲
Amounts payable after more than one year17€0€15k▲
Financial debts170/4€0€15k▲
Amounts payable within one year42/48€17k€26k▲
Current portion of amounts payable after more than one year42€797€4k▲
Trade debts44€6k€7k▲
Suppliers440/4€6k€7k▲
Taxes, remuneration and social security45€95€2k▲
Taxes450/3€95€2k▲
Other amounts payable47/48€10k€14k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A-€2k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€7k▲
Other operating charges640/8€623€675▲
Gross operating margin9900€4k€15k▲
Operating profit (loss)9901€-3k€7k▲
Financial income75/76B€1k€942▼
Recurring financial income75€1k€942▼
Financial charges65/66B€-107€1k▲
Recurring financial charges65€-107€1k▲
Profit (loss) for the period before taxes9903€-1k€7k▲
Income taxes67/77€0€2k▲
Profit (loss) for the period9904€-1k€5k▲
Profit (loss) for the period to be appropriated9905€-1k€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1k€5k▲
Transfer from equity791/2€1k€0▼
Transfer to equity691/2€0€5k▲
To other reserves6921€0€5k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
09-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
16-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet €-1k ▼171%
Net result drops to €-1k, the lowest in the series; recovery starts the following year.
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Liquidity doublescurrent ratio 2.19
Current ratio from 1.02 to 2.19; short-term debt falls from €12k to €10k.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Aarschot · 1 establishment unit since 2011
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Statiestraat 693200 AarschotGround area
334 m²
Building footprint
313 m²
Volume, LiDAR
1,680 m³
Parcel 24662F0043/00L010, Flanders · tallest building 14.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
SPIES
since 20112.203.964.219
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24662F0043/00L010 | Flanders | 334 m² | 1 · 313 m² | 14.5 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 150 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 150 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,661. 4,274 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-07-2011
Fiscal year end30-06
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43211General electrical installation work
43221Plumbing work
43230Insulation installation
43291Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.