SPIKES (0477.565.939): financials and annual accounts

SPIKES

Antwerp ·KBO/BCE: BE 0477.565.939

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	4.8m	4.7m	4.2m	3.4m	3.0m	3.6m	4.6m	3.3m	3.1m	3.9m	3.4m	2.8m	3.4m	2.4m	2.0m	1.6m	1.7m	1.4m	1.1m
Formation expenses`20`	-	-	0	35,075	70,150	105,225	140,300	175,375	-	-	-	-	-	-	-	-	-	-	-
Fixed assets`21/28`	663,318	643,727	1.2m	890,671	899,573	962,157	1.0m	1.1m	988,659	668,933	637,711	607,707	478,228	463,007	207,484	208,654	125,087	138,527	125,594
Intangible fixed assets`21`	461,165	409,823	331,760	199,690	227,070	280,157	363,655	272,868	354,117	2,213	3,742	16,525	25,106	31,512	43,100	13,619	25,461	37,402	65,419
Tangible fixed assets`22/27`	109,474	143,725	215,333	225,539	225,389	244,326	232,193	434,535	458,267	331,891	329,514	346,153	416,773	402,273	135,341	169,711	84,523	85,682	48,337
Land and buildings`22`	-	-	-	-	-	-	-	-	-	-	63,471	63,471	63,471	63,471	-	-	-	-	-
Plant, machinery and equipment`23`	36,773	44,865	57,422	36,950	14,690	15,882	44,022	51,045	23,596	32,585	33,630	44,883	62,253	21,169	45,105	41,702	29,637	31,306	19,669
Furniture and vehicles`24`	18,082	37,717	76,344	86,293	87,608	83,714	13,244	18,475	4,365	27,900	43,872	2,122	426	7,913	32,391	55,702	46,963	54,376	219
Other tangible fixed assets`26`	54,619	61,143	81,568	102,295	123,091	144,730	174,928	365,016	430,306	271,406	188,542	235,677	290,622	309,720	57,845	72,307	7,923	-	-
Financial fixed assets`28`	92,679	90,179	668,751	465,442	447,114	437,674	409,272	423,120	176,275	334,828	304,456	245,029	36,349	29,222	29,043	25,324	15,103	15,443	11,838
Current assets`29/58`	4.1m	4.1m	3.0m	2.4m	2.0m	2.5m	3.5m	2.0m	2.2m	3.2m	2.8m	2.2m	2.9m	2.0m	1.8m	1.4m	1.6m	1.2m	936,867
Amounts receivable after more than one year`29`	-	-	-	0	45,500	45,500	45,500	-	-	-	-	-	-	-	-	-	-	-	75,000
Trade receivables`290`	-	-	-	0	45,500	45,500	45,500	-	-	-	-	-	-	-	-	-	-	-	-
Other amounts receivable`291`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75,000
Stocks and contracts in progress`3`	-	-	-	-	-	0	311,370	235,959	-	-	-	-	-	-	-	-	-	-	-
Contracts in progress`37`	-	-	-	-	-	0	311,370	235,959	-	-	-	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	2.7m	2.9m	2.1m	254,584	363,773	1.0m	2.2m	1.6m	2.0m	3.0m	2.5m	2.1m	2.3m	1.8m	1.6m	1.2m	1.5m	1.1m	824,801
Trade receivables`40`	2.0m	2.9m	2.1m	158,346	226,400	892,461	1.6m	1.4m	1.7m	2.5m	1.9m	1.9m	2.0m	1.8m	1.4m	986,553	1.2m	880,437	708,489
Other amounts receivable`41`	738,135	36,875	51,616	96,238	137,373	114,346	670,106	212,045	358,730	503,153	575,217	150,750	303,661	29,718	189,867	238,020	299,734	225,220	116,312
Current investments`50/53`	604,117	604,117	604,117	604,117	604,117	604,117	593,010	-	-	-	-	12,000	12,000	196	275	302	293	495	475
Cash at bank and in hand`54/58`	713,361	396,686	176,328	1.5m	957,919	831,478	178,644	13,927	50,191	33,871	124,344	44,063	608,812	132,604	200,207	169,420	40,716	112,722	24,834
Deferred charges and accrued income`490/1`	128,517	108,690	60,945	62,553	69,546	43,865	116,471	142,981	78,346	216,474	145,207	19,242	29,642	32,710	13,724	21,823	22,543	19,681	11,757
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	4.8m	4.7m	4.2m	3.4m	3.0m	3.6m	4.6m	3.3m	3.1m	3.9m	3.4m	2.8m	3.4m	2.4m	2.0m	1.6m	1.7m	1.4m	1.1m
Equity`10/15`	2.7m	2.7m	2.0m	1.4m	1.3m	1.4m	1.3m	1.4m	1.8m	2.0m	1.7m	1.5m	1.3m	982,444	713,100	679,605	651,666	426,478	281,265
Contributions`10/11`	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000
Capital`10`	137,000	137,000	137,000	137,000	137,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000	137,000
Revaluation surpluses`12`	-	-	247,070	247,070	247,070	247,070	247,070	247,070	-	-	-	-	-	-	-	-	-	-	-
Reserves`13`	2.5m	2.5m	1.6m	1.0m	952,560	1.0m	928,541	987,547	1.6m	1.8m	1.6m	1.3m	1.2m	845,444	576,100	542,605	514,666	289,478	144,265
Non-distributable reserves`130/1`	617,817	617,817	617,817	617,817	617,817	617,817	593,010	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700	13,700
Own shares acquired`1312`	604,117	604,117	604,117	604,117	604,117	-	593,010	-	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	62,584	62,584	62,584	82,112	101,639	121,167	295,695	315,223	334,751	189,000	34,000	34,000	34,000	4,000	4,000	4,000	4,000	4,000	4,000
Distributable reserves`133`	1.8m	1.8m	954,645	336,176	233,104	274,634	26,135	658,623	1.3m	1.6m	1.5m	1.3m	1.1m	827,744	558,400	524,905	496,966	271,778	126,565
Profit (loss) carried forward`14`	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable`17/49`	2.2m	2.0m	2.2m	1.9m	1.7m	2.2m	3.3m	2.0m	1.4m	1.9m	1.7m	1.3m	2.1m	1.4m	1.3m	945,167	1.0m	950,604	781,196
Amounts payable after more than one year`17`	-	-	0	19,750	70,869	142,886	224,495	96,356	179,780	72,829	85,514	229,788	408,439	31,250	68,750	118,690	31,100	49,760	15,644
Financial debts`170/4`	-	-	0	19,750	70,869	142,886	224,495	96,356	179,780	72,829	85,514	229,788	408,439	31,250	68,750	118,690	31,100	49,760	15,644
Amounts payable within one year`42/48`	2.1m	2.0m	2.2m	1.9m	1.6m	2.1m	3.1m	1.9m	1.2m	1.8m	1.6m	1.1m	1.7m	1.4m	1.2m	826,477	999,111	900,844	763,167
Current portion of amounts payable after more than one year`42`	-	-	19,750	194,780	72,017	81,608	81,211	33,425	33,049	12,684	144,274	178,651	209,566	37,500	49,940	56,160	18,660	18,660	11,497
Financial debts`43`	-	-	100,000	-	-	0	1.0m	800,000	250,000	250,000	250,000	-	590,000	400,409	300,000	125,000	283,249	277,697	191,500
Credit institutions`430/8`	-	-	100,000	-	-	0	1.0m	800,000	250,000	250,000	250,000	-	590,000	400,409	300,000	125,000	283,249	277,697	191,500
Trade debts`44`	824,090	990,682	875,533	684,627	499,962	523,596	609,385	780,055	478,165	1.2m	729,609	527,570	329,956	599,215	546,955	269,358	487,016	461,264	228,013
Suppliers`440/4`	824,090	990,682	875,533	684,627	499,962	523,596	609,385	780,055	478,165	1.2m	729,609	527,570	329,956	599,215	546,955	269,358	487,016	461,264	228,013
Advances received on contracts in progress`46`	112,963	142,208	351,727	134,730	73,123	181,911	143,649	72,465	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	599,985	835,226	734,989	661,155	428,733	346,813	323,351	168,562	428,456	341,201	454,617	383,220	290,009	256,939	200,931	184,625	163,887	143,223	131,537
Taxes`450/3`	236,800	508,337	425,832	329,360	133,319	115,464	69,220	26,702	80,833	65,635	104,836	-	-	4,214	12,652	16,878	-	-	-
Remuneration and social security`454/9`	363,185	326,889	309,157	331,795	295,414	231,349	254,131	141,860	347,623	275,567	349,781	383,220	290,009	252,725	188,279	167,747	163,887	143,223	131,537
Other amounts payable`47/48`	540,492	1,924	84,778	215,717	498,641	923,211	897,014	-	-	50,000	-	-	270,000	120,000	92,857	191,334	46,299	-	200,620
Accrued charges and deferred income`492/3`	81,272	73,379	759	24,948	30,602	1,434	848	1,810	1,750	260	-	-	-	-	-	-	-	-	2,385
Income statement
Non-recurring operating income`76A`	11,126	141,074	145,232	49,440	43	840,000	373,463	8,470	21,983	15,286	22,198	-	3,702	66,672	-	-	-	-	-
Gross operating margin`9900`	3.6m	3.9m	3.7m	3.1m	2.9m	3.0m	2.7m	2.3m	2.9m	3.8m	3.5m	3.3m	3.3m	2.8m	2.1m	2.1m	1.8m	1.7m	1.4m
Remuneration, social security and pensions`62`	2.7m	2.5m	2.6m	2.5m	2.4m	2.3m	2.5m	2.7m	2.9m	3.0m	3.0m	2.8m	2.5m	2.2m	1.9m	1.6m	1.5m	1.4m	1.3m
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	253,188	199,478	176,593	205,125	189,385	210,315	193,394	188,124	104,226	99,206	124,364	117,477	138,013	141,108	99,511	88,203	40,479	67,952	63,564
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	14,772	-	-	-	0	-7,190	-	6,400	-27,438	-23,403	39,484	-	-12,000	-	-	12,000	-	-	9,963
Other operating charges`640/8`	27,076	26,818	28,932	49,691	39,448	33,642	18,038	20,489	45,290	13,518	49,938	99,267	28,648	20,886	14,745	4,657	7,295	7,989	3,394
Non-recurring operating charges`66A`	-	72,649	85,019	56,151	15,356	0	1,772	3,388	2,062	344,319	33,972	14,720	-	60,892	-	158,148	-	9,300	-
Operating profit (loss)`9901`	546,157	1.1m	874,572	291,931	276,131	454,729	-33,467	-620,187	-171,770	321,626	330,616	284,312	642,994	424,022	164,151	370,017	264,095	202,064	3,586
Financial income`75/76B`	9,017	128,358	56	36,643	31,851	7,222	6,787	5,108	3,587	285	1,575	723	1,050	3,323	1,703	5,139	143	3,718	357,891
Recurring financial income`75`	9,017	7,104	56	1,318	2,507	753	6,787	5,108	3,587	285	1,575	723	1,050	3,323	1,703	5,139	143	3,718	357,891
Non-recurring financial income`76B`	-	121,254	0	35,325	29,344	6,468	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	41,845	46,833	27,886	53,772	49,265	54,215	21,656	16,745	13,488	14,904	16,933	27,350	34,405	39,481	39,502	39,068	39,050	47,084	50,742
Recurring financial charges`65`	41,845	46,833	27,886	53,082	47,151	54,215	21,656	16,745	13,488	14,904	16,933	27,350	34,405	39,481	39,502	39,068	39,050	47,084	50,742
Non-recurring financial charges`66B`	-	-	0	690	2,115	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	513,329	1.2m	846,742	274,802	258,716	407,736	-48,335	-631,824	-181,671	307,007	303,484	242,966	613,342	393,644	126,352	177,940	225,188	149,398	310,735
Income taxes`67/77`	109,872	335,202	247,801	104,374	53,572	56,457	10,671	11,156	15,198	67,370	42,581	69,291	55,606	4,300	-	-	-	4,185	-713
Profit (loss) for the period`9904`	403,457	880,619	598,941	170,428	205,144	351,279	-59,006	-642,980	-196,869	239,637	260,903	173,675	557,735	389,344	126,352	177,940	225,188	145,213	311,448
Transfer from tax-exempt reserves`789`	-	-	-	-	0	155,000	-	-	49,528	-	-	-	-	-	-	-	-	-	-
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	195,279	155,000	-	-	30,000	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	403,457	880,619	598,941	170,428	205,144	506,279	-59,006	-642,980	-342,620	84,637	260,903	173,675	527,735	389,344	126,352	177,940	225,188	145,213	311,448
Appropriation of the result
Profit (loss) to be appropriated`9906`	403,457	880,619	598,941	170,428	205,144	506,279	-59,006	-642,980	-342,620	84,637	260,903	173,675	527,735	389,344	126,352	177,940	225,188	145,213	311,448
Transfer from equity`791/2`	-	-	-	0	61,058	0	59,006	642,980	392,148	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	880,619	598,941	83,544	0	240,077	-	-	49,528	84,637	260,903	173,675	277,735	269,344	33,495	27,940	225,188	145,213	111,448
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,637
To other reserves`6921`	-	880,619	598,941	83,544	0	240,077	-	-	49,528	84,637	260,903	173,675	277,735	269,344	33,495	27,940	225,188	145,213	100,811
Profit to be distributed`694/7`	403,457	-	0	86,884	266,202	266,202	-	-	-	-	-	-	250,000	120,000	92,857	150,000	-	-	200,000
Return on contributions (dividend)`694`	403,457	-	0	86,884	266,202	266,202	-	-	-	-	-	-	-	-	-	-	-	-	-
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	-	250,000	120,000	92,857	150,000	-	-	200,000
Social balance sheet
Average staff (FTE)`9087`	30	29.6	32.2	31.5	32.7	33.5	35.2	37.2	39.8	40.3	38.6	39.4	35.1	29.9	26.5	23.4	21.7	19.4	17.7
Hours worked`1013`	46,476	48,094	52,143	50,367	53,510	55,976	58,623	61,368	64,555	67,826	64,958	66,785	59,446	50,754	44,902	40,462	36,989	32,525	29,754
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	12-06-2026	2026-00162225	PDF
31-12-2024	abbreviated format	24-07-2025	2025-00311153	PDF
31-12-2023	abbreviated format	19-08-2024	2024-00356499	PDF
31-12-2022	abbreviated format	06-07-2023	2023-00216576	PDF
31-12-2021	abbreviated format	19-08-2022	2022-20303318	PDF
31-12-2020	abbreviated format	30-09-2021	2021-70200359	PDF
31-12-2019	abbreviated format	24-11-2020	2020-71800166	PDF
31-12-2018	abbreviated format	10-10-2019	2019-69600491	PDF
31-12-2017	abbreviated format	28-09-2018	2018-66900581	PDF
31-12-2016	abbreviated format	29-09-2017	2017-65300433	PDF
31-12-2015	abbreviated format	11-08-2016	2016-42400249	PDF
31-12-2014	abbreviated format	11-08-2015	2015-41300220	PDF
31-12-2013	abbreviated format	17-07-2014	2014-32200493	PDF
31-12-2012	abbreviated format	16-05-2013	2013-12500119	PDF
31-12-2011	abbreviated format	12-06-2012	2012-16700173	PDF
31-12-2010	abbreviated format	26-04-2011	2011-09300537	PDF
31-12-2009	abbreviated format	22-03-2010	2010-07100494	PDF
31-12-2008	abbreviated format	14-05-2009	2009-15000338	PDF
31-12-2007	abbreviated format	25-04-2008	2008-12400056	PDF
31-12-2006	abbreviated format	30-03-2007	2007-10301528	PDF
31-12-2005	abbreviated format	24-04-2006	2006-11602720	PDF
31-12-2004	abbreviated format	29-06-2005	2005-35102097	PDF
31-12-2003	abbreviated format	29-03-2004	2004-09101064	PDF
31-12-2002	abbreviated format	04-04-2003	2003-10005024	PDF

Year	Entries	Awarded	Paid
2025	1	€2,092	€2,092
2024	2	€5,297	€5,297
2023	2	€7,932	€7,932
2022	2	€5,393	€5,393

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	799,345	1.3m	1.1m	497,055	465,515	665,044	159,927	-432,063	-67,544	420,833	454,980	401,790	781,008	565,130	263,662	458,220	304,574	270,016	67,150
Cash flow	656,645	1.1m	775,534	375,553	394,529	561,593	134,389	-454,856	-92,643	338,844	385,267	291,152	695,749	530,452	225,863	266,143	265,667	213,165	375,012
Investment in fixed assets	283,870	239,020	485,909	189,162	142,137	132,276	197,645	83,143	845,106	153,572	154,369	278,676	156,992	470,663	98,340	192,135	30,719	109,410	89,273
Change in cash	316,675	220,358	-1.3m	550,963	126,442	652,834	164,717	-36,264	16,320	-90,473	80,282	-564,749	476,208	-67,603	30,787	128,704	-72,006	87,888	-
Working capital	2.1m	2.1m	804,031	539,127	468,379	474,626	392,532	163,884	960,397	1.4m	1.2m	1.1m	1.2m	550,687	574,366	589,641	557,679	337,711	173,700
Solvency	55.1%	56.5%	48.2%	42.3%	44.4%	38.8%	28.3%	41.3%	56.3%	50.6%	50.9%	52.6%	38.1%	40.5%	36.2%	41.8%	38.7%	31.0%	26.5%
Current ratio	2.00	2.06	1.37	1.29	1.30	1.23	1.13	1.09	1.81	1.74	1.74	2.00	1.72	1.39	1.48	1.71	1.56	1.37	1.23
Quick ratio	2.00	2.06	1.37	1.29	1.30	1.23	1.03	0.96	1.81	1.74	1.74	2.00	1.72	1.39	1.48	1.71	1.56	1.37	1.23
Debt to equity	0.81	0.77	1.07	1.36	1.25	1.58	2.53	1.42	0.78	0.98	0.96	0.90	1.63	1.47	1.77	1.39	1.58	2.23	2.78
ROE	15.2%	33.2%	29.7%	12.0%	15.3%	25.1%	-4.5%	-46.9%	-11.1%	12.2%	15.1%	11.9%	43.2%	39.6%	17.7%	26.2%	34.6%	34.0%	110.7%
ROA	8.4%	18.8%	14.3%	5.1%	6.8%	9.8%	-1.3%	-19.3%	-6.3%	6.2%	7.7%	6.2%	16.5%	16.0%	6.4%	11.0%	13.4%	10.5%	29.3%
Interest coverage	19.10	28.48	37.70	9.36	9.87	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	29	31	33	34	35
full-time	26	28	30	30	31
part-time	3	3	3	4	4
in full-time equivalents	28.1	29.8	32.1	32.8	34
Average over the year, in full-time equivalents	30	29.6	32.2	31.5	32.7
On a permanent contract	29	31	33	34	35
Joined	3	5	8	4	5
Left	5	7	9	5	6
Training hours	721	-	-	-	-

SPIKES

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency55.1%

Current ratio2.00

Return on assets8.4%

Staff

Staff cost per FTE€90,761

Joined and left-2

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2025, 7 entries, €20,714 awarded, €20,714 paid

Key figures and ratios

Social balance sheet

Investments

Public contracts

Insights on SPIKES

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€44,878	€29,076	€82,391	€82,969	€86,942
Intangible fixed assets	€236,492	€209,944	€200,209	€86,713	€45,755
Financial fixed assets	€2,500	-	€203,309	€19,480	€9,440
Depreciation and write-downs of the year	€253,188	€199,478	€176,593	€205,125	€189,385