SPINA EMMA
ActiveThe computed 12-month bankruptcy probability of SPINA EMMA is 2.6% (moderate). The 2025 annual accounts show equity of €185k and a net result of €9k. Equity is growing by ~6.4% per year across the filed fiscal years. Its solvency ranks better than 88% of 13204 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▼-15
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity ample (current ratio 3.7 against 3.64 in 2024; short-term debt: 23.2% and cash: 35.7% of total assets), and 23.2% of the assets are financed with debt.
Credit advice for your own amount and term
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 56
Relative position
BE, all sectors
reference
Sector 56
higher
← fewer bankruptcies
more bankruptcies →
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
76.8%
Return on assets
3.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
29 d late
2024
29 d late
2023
9 d late
2022
7 d late
2021
30 d late
2020
55 d late
2019
73 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€9k▼ 74.6%
2024 · €34k
2018: €66k
2019: €19k
2020: €77k
2021: €35k
2022: €28k
2023: €33k
2024: €34k
2018 → 2025
Working capital
€151k▲ 13.3%
2024 · €133k
2018: €5k
2019: €29k
2020: €118k
2021: €1k
2022: €40k
2023: €87k
2024: €133k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€82k-€109k▲ 33.9%€142k▲ 30.2%€176k▲ 24.2%€185k▲ 4.9%
Operating result€63k-€42k▼ 34.0%€51k▲ 21.4%€53k▲ 4.4%€30k▼ 44.1%
Net result€35k-€28k▼ 21.7%€33k▲ 19.3%€34k▲ 4.5%€9k▼ 74.6%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 44% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €241k
Fixed assets
€34k▼ 20.9%
Current assets
€207k▲ 12.7%
Equity and liabilities €241k
Equity
€185k▲ 4.9%
Debt
€56k▲ 11.1%
The debt ratio rises from 22.2% to 23.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46k▼
2024 · €69k
Cash flow
€25k▼
2024 · €50k
Solvency
76.8%▼
2024 · 77.8%
Current ratio
3.70▲
2024 · 3.64
Quick ratio
2.95▲
2024 · 2.70
Debt / equity
0.30▲
2024 · 0.29
ROE
4.7%▼
2024 · 19.5%
ROA
3.6%▼
2024 · 15.2%
Interest coverage
9.13▼
2024 · 10.83
Debt
€56k▲
2024 · €50k
Debt ≤ 1 year
€56k▲
2024 · €50k
Income taxes
€17k▲
2024 · €13k
Staff costs
€129k▼
2024 · €161k
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€227k€241k▲
Fixed assets21/28€43k€34k▼
Intangible fixed assets21€18k€12k▼
Tangible fixed assets22/27€21k€18k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€5k€8k▲
Other tangible fixed assets26€14k€9k▼
Financial fixed assets28€4k€4k=
Current assets29/58€184k€207k▲
Stocks and contracts in progress3€47k€42k▼
Stocks30/36€47k€42k▼
Amounts receivable within one year40/41€101k€79k▼
Trade receivables40-€123
Other amounts receivable41€101k€79k▼
Cash at bank and in hand54/58€33k€86k▲
Deferred charges and accrued income490/1€1k€694▼
Equity and liabilities
Total equity and liabilities10/49€227k€241k▲
Equity10/15€176k€185k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€156k€164k▲
Amounts payable17/49€50k€56k▲
Amounts payable within one year42/48€50k€56k▲
Trade debts44€19k€21k▲
Suppliers440/4€19k€21k▲
Taxes, remuneration and social security45€32k€35k▲
Taxes450/3€17k€19k▲
Remuneration and social security454/9€15k€16k▲
Income statement
Code20242025
Remuneration, social security and pensions62€161k€129k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€16k▲
Other operating charges640/8€725€3k▲
Non-recurring operating charges66A€13-
Gross operating margin9900€230k€178k▼
Operating profit (loss)9901€53k€30k▼
Financial income75/76B€1k€2k▲
Recurring financial income75€1k€2k▲
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Non-recurring financial charges66B-€90
Profit (loss) for the period before taxes9903€48k€26k▼
Income taxes67/77€13k€17k▲
Profit (loss) for the period9904€34k€9k▼
Profit (loss) for the period to be appropriated9905€34k€9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€156k€164k▲
Profit (loss) brought forward from the previous period14P€121k€156k▲
The notes to these accounts (11 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
2026
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
31-12
Financial
Weakest financial yearnet €9k ▼74.6%
Net result drops to €9k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Equity above €150kEq €176k ▲24.2%
7 profitable years in a row build equity to €176k.
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
31-12
Financial
Equity above €100kEq €109k ▲33.9%
5 profitable years in a row build equity to €109k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
2020
31-12
Financial
Highest result since 2018net €77k ▲307%
Net result €77k, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 4.13
Current ratio from 1.33 to 4.13; short-term debt falls from €89k to €38k.
31-12
Financial
Equity above €200kEq €210k ▲57.6%
3 profitable years in a row build equity to €210k.
12-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 73 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 10 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Ukkel · 1 establishment unit since 2016
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.
Alsembergsesteenweg 8421180 UkkelGround area
1,865 m²
Building footprint
1,314 m²
Volume, LiDAR
7,904 m³
2 parcels, Brussels, Flanders · tallest building 12.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IL SORRENTO
since 20162.254.264.162
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614E0126/00A002 | Brussels | 1,616 m² | 1 · 1,089 m² | 12.7 m · 2 fl. |
| 23017D0245/00L000 | Flanders | 249 m² | 1 · 225 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
DALUCI
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LB&T
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BK BEL INVEST
BE 0546.684.575
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DELTA FOOD
BE 0675.895.901
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LOKERENSIS
BE 0456.737.267
Lokeren · Eq €185k
Of 21,896 companies in sector 56112 we hold annual accounts for 9,784. 6,886 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded07-06-2016
Fiscal year end31-12
Activities, NACEBEL
56101Full-service restaurants
56102Limited-service restaurants
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.