SPIRITS
ActiveSummary
SPIRITS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10,400 and a net result of €4,187. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 93% of 1570 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+50
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 6.6 against 19.16 in 2024; short-term debt: 14.1% and cash: 78.7% of total assets), and 14.1% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← 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
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €10,400
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 29-10-2025, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
6 d early
2023
1 d early
2022
5 d early
2021
2 d late
2020
12 d late
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€10,400▲ 67.4%
2024 · €6,212
Total assets
€12,104▲ 84.7%
2024 · €6,554
Net result
€4,187
2024 · -€1,905
Working capital
€9,551▲ 53.7%
2024 · €6,212
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€14,285▼ 64.8%€5,416▼ 62.1%-€3,186-€1,852▲ 41.9%€6,022
Net result€10,187within the sector's middle half▼ 70.1%€3,966within the sector's middle half▼ 61.1%-€3,214within the sector's middle half-€1,905within the sector's middle half▲ 40.7%€4,187within the sector's middle half
Equity€7,365within the sector's middle half€11,331within the sector's middle half▲ 53.8%€8,117within the sector's middle half▼ 28.4%€6,212within the sector's middle half▼ 23.5%€10,400within the sector's middle half▲ 67.4%
Total assets€17,392below the sector's middle half▼ 30.9%€14,061below the sector's middle half▼ 19.2%€8,496below the sector's middle half▼ 39.6%€6,554below the sector's middle half▼ 22.9%€12,104below the sector's middle half▲ 84.7%
Debt€10,027▼ 64.2%€2,730▼ 72.8%€379▼ 86.1%€342▼ 9.9%€1,705▲ 398%
Working capital-€3,307€3,651€4,277▲ 17.2%€6,212▲ 45.3%€9,551▲ 53.7%
Solvency42.3%within the sector's middle half▲ 53.6pp80.6%above the sector's middle half▲ 38.2pp95.5%above the sector's middle half▲ 14.9pp94.8%above the sector's middle half▼ 0.8pp85.9%above the sector's middle half▼ 8.9pp
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
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: €6,022 after a loss of €1,852 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12,104
Fixed assets
€849
Current assets
€11,256
Equity and liabilities €12,104
Equity
€10,400 ▲ 67.4%
Debt
€1,705 ▲ 398%
Debt's share of the balance-sheet total rises from 5.2% to 14.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6,080▲
2024 · €1,988
Cash flow
€4,246▲
2024 · €1,935
Current ratio
6.60▼
2024 · 19.16
Debt to equity
0.16▲
2024 · 0.06
ROE
40.3%▲
2024 · -30.7%
ROA
34.6%▲
2024 · -29.1%
Interest coverage
42.05▲
2024 · 14.37
Debt ≤ 1 year
€1,705▲
2024 · €342
Income taxes
€1,705
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,324 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,840 | €3,840 | €3,840 | €3,840 | €59 | ▼ 98.5% |
| Other operating charges640/8 | - | €699 | €956 | €875 | €766 | ▼ 12.4% |
| Gross operating margin9900 | €18,740 | €9,955 | €1,610 | €2,863 | €6,847 | ▲ 139% |
| Operating profit (loss)9901 | €14,285 | €5,416 | -€3,186 | -€1,852 | €6,022 | ▲ 425% |
| Financial income75/76B | - | €304 | €117 | €86 | €15 | ▼ 82.6% |
| Recurring financial income75 | €23 | €304 | €117 | €86 | €15 | ▼ 82.6% |
| Financial charges65/66B | - | €186 | €145 | €138 | €145 | ▲ 4.6% |
| Recurring financial charges65 | €132 | €186 | €145 | €138 | €145 | ▲ 4.6% |
| Profit (loss) for the period before taxes9903 | €14,176 | €5,533 | -€3,214 | -€1,905 | €5,892 | ▲ 409% |
| Income taxes67/77 | €3,990 | €1,567 | - | - | €1,705 | - |
| Profit (loss) for the period9904 | €10,187 | €3,966 | -€3,214 | -€1,905 | €4,187 | ▲ 320% |
| Profit (loss) for the period to be appropriated9905 | €10,187 | €3,966 | -€3,214 | -€1,905 | €4,187 | ▲ 320% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17,392 | €14,061 | €8,496 | €6,554 | €12,104 | ▲ 84.7% |
| Fixed assets21/28 | €11,520 | €7,680 | €3,840 | - | €849 | - |
| Tangible fixed assets22/27 | €11,520 | €7,680 | €3,840 | - | €849 | - |
| Plant, machinery and equipment23 | - | - | - | - | €849 | - |
| Furniture and vehicles24 | - | €7,680 | €3,840 | - | - | - |
| Current assets29/58 | €5,872 | €6,380 | €4,656 | €6,554 | €11,256 | ▲ 71.7% |
| Amounts receivable within one year40/41 | €5,020 | €3,818 | €2,247 | €2,091 | €1,589 | ▼ 24.0% |
| Trade receivables40 | - | €25 | €293 | €272 | - | - |
| Other amounts receivable41 | - | €3,793 | €1,954 | €1,819 | €1,589 | ▼ 12.6% |
| Cash at bank and in hand54/58 | €694 | €2,419 | €2,409 | €4,326 | €9,523 | ▲ 120% |
| Deferred charges and accrued income490/1 | - | €143 | - | €138 | €144 | ▲ 4.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17,392 | €14,061 | €8,496 | €6,554 | €12,104 | ▲ 84.7% |
| Equity10/15 | €7,365 | €11,331 | €8,117 | €6,212 | €10,400 | ▲ 67.4% |
| Contributions10/11 | - | €55,600 | €55,600 | €55,600 | €55,600 | = |
| Profit (loss) carried forward14 | -€48,235 | -€44,269 | -€47,483 | -€49,388 | -€45,200 | ▲ 8.5% |
| Amounts payable17/49 | €10,027 | €2,730 | €379 | €342 | €1,705 | ▲ 398% |
| Amounts payable after more than one year17 | €848 | - | - | - | - | - |
| Amounts payable within one year42/48 | €9,179 | €2,730 | €379 | €342 | €1,705 | ▲ 398% |
| Current portion of amounts payable after more than one year42 | - | €848 | - | - | - | - |
| Trade debts44 | €136 | €314 | €379 | €342 | - | - |
| Suppliers440/4 | - | €314 | €379 | €342 | - | - |
| Taxes, remuneration and social security45 | - | €1,567 | - | - | €1,705 | - |
| Taxes450/3 | - | €1,567 | - | - | €1,705 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,187 | €3,966 | -€3,214 | -€1,905 | €4,187 | ▲ 320% |
| + Depreciation and write-downs630 | €3,840 | €3,840 | €3,840 | €3,840 | €59 | ▼ 98.5% |
| Operating cash flow (approximation) | €14,027 | €7,806 | €626 | €1,935 | €4,246 | ▲ 119% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | €1,724 | -€10 | €1,917 | €5,197 | ▲ 171% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €4,187
Net result €4,187 after 2 loss-making years.
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet -€3,214
Net result drops to -€3,214, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity times 5current ratio 12.27
Current ratio from 2.34 to 12.27; short-term debt falls from €2,730 to €379.
2022
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Liquidity quadruplescurrent ratio 2.34
Current ratio from 0.64 to 2.34; short-term debt falls from €9,179 to €2,730.
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
31-03
Financial
Back to profitnet €34,085
Net result €34,085 after one loss-making year.
31-03
Financial
Liquidity times 5current ratio 1.18
Current ratio from 0.24 to 1.18; short-term debt falls from €30,422 to €8,340.
Show earlier events
2019
24-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
28-10
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.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Wijnegem · 2 establishment units since 2002
Ground area
689 m²
Building footprint
311 m²
Volume, LiDAR
1,868 m³
2 parcels, Flanders · tallest building 12.1 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
CHALET
since 20022.101.677.521
Turnhoutsebaan 190, 2970 Schilde
since 20262.389.235.209
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11050A0306/00N000 | Flanders | 487 m² | 1 · 112 m² | 10.3 m · 2 fl. |
| 11922C0070/00V000 | Flanders | 202 m² | 1 · 199 m² | 12.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSchilde2.389.235.209
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 961 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-02-2002
Fiscal year end31-03
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476825868
Also
9925:BE0476825868
Registered
20-08-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.