Equity
€96,417 ▲ 29.9%
SPL Projects paid out €20,000 in dividends. That is 47% of the 2025 profit.
SPL Projects
Overview
Lifetime
4 annual accounts with figures on one time axispeak €72,420 (2025)
€72,420▲ 28.8%
peak €42,170 (2025)
€42,170▲ 63.5%
peak €96,417 (2025)
€96,417▲ 29.9%
€125,075▲ 66.4%
Board1 name since 2022
1 directorSPITS Lode
Documentsfilings and deeds
18-06-202643 days before the deadline
2025micro format
Gross margin from €56,216 to €72,420Result from €25,797 to €42,170Dividend €20,000Equity from €74,247 to €96,417Debts from €75,170 to €125,075Investments €67,668
Key points
from the 2025 annual accountsTurnover
≈ €190,000 estimated
The micro format states no turnover.
Investments
€132,583 13.4 × depreciation
Green is investment, beige is depreciation.
Checked score
88
Excellent
Financially stronger than 75% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.1%▼ -0.2 percentage points vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.2%▲ +0.1 percentage points vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.1%▼ -0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.4%▲ +0.2 percentage points vs 09-2026highest value
11-2026: 0.4%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Sector: Real estate activities (NACE 68)
Liquidity: current ratio 1.96, cash €34,167
Figures for financial year 2025 (filed on 18-06-2026)
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 68, micro). It does better than 60% of them on solvency, 73% on liquidity, 87% on profitability and 80% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 39,278 companies had the same profile as SPL Projects has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SPL Projects itself is lower: 0.4% within 12 months. It rests on far more data about SPL Projects than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for SPL Projects. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €8,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.96 (2.28 in 2024), above the usual 1.5. Short-term debt is 22.2% and cash 15.4% of total assets. However, 56.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 18-06-2026, 43 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
43 days early
2024
51 days early
2023
49 days early
2022
55 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 50 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 12 June (4 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered office moved from Heist-op-den-Berg to Tremelo
New registered office: Park Tremeland 7, 3120 Tremelo · Previous registered office: Liersesteenweg 85B, 2220 Heist-op-den-Berg · General meeting of 10-08-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0787642671
Registered office moved within Heist-op-den-Berg
New registered office: Liersesteenweg 85B te 2220 Heist-op-den-Berg · Previous registered office: Liersesteenweg 10 te 2220 Heist-op-den-Berg · Board meeting of 11-10-2022 · Gazette deed
Incorporation
Founding capital of €2,000, 200 shares · Founder: SPITS Lode · Appointment: SPITS Lode (director) · published on 28-06-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SPL Projects Tremelo | €221,492 | €72,420 | 43.5% | - |
| JHB Bilzen-Hoeselt | €215,576 | €76,795 | 61.9% | - |
| ZRZ & CONSTRUCT Antwerp | €207,093 | €82,489 | 65.9% | - |
| Built to Build Bilzen-Hoeselt | €219,433 | €93,841 | 31.0% | - |
| BRICKSTICK Knokke-Heist | €216,677 | €97,462 | 93.2% | - |
| PDC Invest Sint-Martens-Latem | €202,729 | €71,126 | 76.4% | - |
| VRS Projects Willebroek | €214,856 | €53,125 | 81.9% | - |
These companies have the same main activity as SPL Projects: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €203,000 and €219,000, founded in 2022.
Official details
Source: KBO- Status
- Active since 24-06-2022Normal situation
- Activity
- Development of residential building projectsNACE 68121and 4 others
- Establishment unit
- 2.333.418.3402220 Heist-op-den-Berg, since 24-06-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 30-01-2025
Annual accounts 2025
- €72,420▲ 28.8%
- €42,170▲ 63.5%
- €96,417▲ 29.9%
- €221,492▲ 48.2%
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on SPL Projects
SPL Projects files the micro format. That format states no turnover. The gross margin rose from €30,263 in 2022 to €72,420 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 18-06-2026, 43 days before the deadline€72,420
▲ 28.8%
€56,765
▲ 56.5%
€42,170
▲ 63.5%
€47,224
▲ 2.4%
43.5%
▼ 6.2 percentage points
1.96
▼ 0.32
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €190,000. Estimated: probably between €98,000 and €450,000.
Balance sheet
balance sheet total €221,492 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
43.5%
Higher than 61% of 17,190 companies in 2025.
1.96
Higher than 66% of 16,487 companies in 2025.
19.0%
Higher than 85% of 16,866 companies in 2025.
SPL Projects
Middle half of the sector
80% of the sector
Micro accounts in real estate (NACE 68)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
221,492 | 149,417 | 74,559 | 66,733 | |
21/28 |
125,188 | 67,415 | 44,946 | 11,221 | |
22/27 |
125,188 | 67,415 | 44,946 | 11,221 | |
24 |
123,914 | 59,171 | 36,299 | 1,021 | |
25 |
0 | 6,606 | 8,646 | 10,200 | |
26 |
1,274 | 1,638 | - | - | |
29/58 |
96,304 | 82,002 | 29,613 | 55,512 | |
29 |
60,000 | - | - | - | |
291 |
60,000 | - | - | - | |
40/41 |
0 | 50,945 | 939 | 31,575 | |
40 |
- | - | 0 | 31,575 | |
41 |
0 | 50,945 | 939 | - | |
54/58 |
34,167 | 31,057 | 27,085 | 20,927 | |
490/1 |
2,138 | 0 | 1,589 | 3,010 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
221,492 | 149,417 | 74,559 | 66,733 | |
10/15 |
96,417 | 74,247 | 48,450 | 24,865 | |
10/11 |
2,000 | 2,000 | 2,000 | 2,000 | |
13 |
94,417 | 72,247 | 46,450 | 22,865 | |
133 |
94,417 | 72,247 | 46,450 | 22,865 | |
14 |
0 | - | - | - | |
17/49 |
125,075 | 75,170 | 26,109 | 41,868 | |
17 |
75,395 | 39,279 | 5,677 | 8,175 | |
170/4 |
75,395 | 39,279 | 5,677 | 8,175 | |
42/48 |
49,080 | 35,891 | 19,532 | 32,793 | |
42 |
18,588 | 13,023 | 2,498 | 2,025 | |
44 |
9,296 | 4,207 | 9,490 | 22,734 | |
440/4 |
9,296 | 4,207 | 9,490 | 22,734 | |
45 |
11,372 | 18,661 | 7,544 | 8,034 | |
450/3 |
8,740 | 18,224 | 7,544 | 8,033 | |
454/9 |
2,633 | 438 | 0 | 1 | |
47/48 |
9,824 | - | - | - | |
492/3 |
600 | 0 | 900 | 900 | |
| Income statement | |||||
9900 |
72,420 | 56,216 | 36,392 | 30,263 | |
630 |
9,896 | 15,075 | 3,267 | - | |
640/8 |
2,526 | 844 | 1,550 | 597 | |
66A |
3,233 | 4,030 | - | - | |
9901 |
56,765 | 36,267 | 31,576 | 29,666 | |
75/76B |
2,138 | 123 | 0 | - | |
75 |
2,138 | 123 | 0 | - | |
65/66B |
3,614 | 2,265 | 446 | 31 | |
65 |
3,614 | 2,265 | 446 | 31 | |
9903 |
55,289 | 34,126 | 31,129 | 29,635 | |
67/77 |
13,119 | 8,329 | 7,544 | 6,769 | |
9904 |
42,170 | 25,797 | 23,585 | 22,865 | |
9905 |
42,170 | 25,797 | 23,585 | 22,865 | |
| Appropriation of the result | |||||
9906 |
42,170 | 25,797 | 23,585 | 22,865 | |
791/2 |
20,000 | - | - | - | |
691/2 |
42,170 | 25,797 | 23,585 | 22,865 | |
6921 |
42,170 | 25,797 | 23,585 | 22,865 | |
694/7 |
20,000 | - | - | - | |
694 |
20,000 | - | - | - | |
| Document | |||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 18-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 66,661 | 51,343 | 34,843 | - | ||
| 52,066 | 40,872 | 26,852 | - | ||
| 132,583 | 70,575 | 36,992 | 11,221 | ||
| 3,110 | 3,972 | 6,159 | - | ||
| 47,224 | 46,111 | 10,082 | 22,719 | ||
| 43.5% | 49.7% | 65.0% | 37.3% | ||
| 1.96 | 2.28 | 1.52 | 1.69 | ||
| 1.30 | 1.01 | 0.54 | 1.68 | ||
| 43.7% | 34.7% | 48.7% | 92.0% | ||
| 19.0% | 17.3% | 31.6% | 34.3% | ||
| 18.44 | 22.67 | 78.07 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €132,583 | €70,575 | €36,992 | €11,221 |
| Financial fixed assets | €0 | - | - | - |
| €9,896 | €15,075 | €3,267 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on SPL Projects
The operating result for 2025 is 57% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Debt's share of the balance-sheet total rises from 50.3% to 56.5%. Equity and debt are higher.
Board & ownership
Board
1 director, since incorporationDirector
appointed by deed of 28-06-2022
listed in the 2025 annual accounts, filed on 18-06-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 28-06-2022
Mandates through the years
1 name, the dashed line is todaySPITS Lode
Director
Director
Board
Mandates as a list
- SPITS Lode
- Director, appointed by deed of 28-06-2022, still in office
Control
Capital
- Contribution
- €2,000
- Shares
- 200
- Contribution per share
- €10
- Equity per share
- €482 in 2025
- Source
- deed of 28-06-2022
Articles of association
deed of 28-06-2022 (in Dutch)- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Saturday of June at 10:00
Shareholders
At incorporation
deed of 28-06-2022 ↗
- SPITS Lode 200 shares (100%) · €2,000
Network & group
No group
SPL Projects has no parent and no holdings in its annual accounts. SPITS Lode is the only director. SPL Projects shares no director with another company.
Timeline
Timeline
10 events since 2022Filings
Financial
Establishments
Address
20222023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Registered office moved from Heist-op-den-Berg to TremeloNew registered office: Park Tremeland 7, 3120 Tremelo · Previous registered office: Liersesteenweg 85B, 2220 Heist-op-den-Berg · General meeting of 10-08-20263 points ▸
- General meeting, 10-08-2026
- Registered-office move, Park Tremeland 7, 3120 Tremelo
- Power of attorney, CommV Stipt
Annual accounts 2025 filed NBBmicro format · 43 days before the deadline
2025
Highest result from 2022 to 2025 net €42,170 ▲63.5% The operating result of €56,765 and the net result of €42,170 are both a record.
Annual accounts 2024 filed PDFmicro format · 51 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0787642671
2024
Annual accounts 2023 filed PDFmicro format · 49 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 55 days before the deadline
2022
Registered office moved within Heist-op-den-BergNew registered office: Liersesteenweg 85B te 2220 Heist-op-den-Berg · Previous registered office: Liersesteenweg 10 te 2220 Heist-op-den-Berg · Board meeting of 11-10-20222 points ▸
- Board meeting, 11-10-2022
- Registered-office move, Liersesteenweg 85B te 2220 Heist-op-den-Berg
IncorporationFounding capital of €2,000, 200 shares · Founder: SPITS Lode · Appointment: SPITS Lode (director) · published on 28-06-20223 points ▸
- Founder, SPITS Lode
- Founding capital, €2,000, 200 shares
- Director appointment, SPITS Lode
- The deed holds 3 more points.
First establishment Liersesteenweg 85 B, Heist-op-den-Berg
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 24 June 2022, SPL Projects was incorporated as a private limited company by one natural person, with a starting capital of €2,000.12 The registered office moved to Heist-op-den-Berg in 2022 and to Tremelo in 2026.34 SPITS Lode is director of the company, appointed by deed of 28-06-2022.2 Total assets went from €66,733 in 2022 to €221,492 in 2025.5
Company details
Identity
- Enterprise number
- 0787.642.671
- VAT number
- BE 0787.642.671
- Peppol ID
- 0208:0787642671
- Other Peppol ID
- 9925:BE0787642671
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 24-06-2022
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Saturday of June at 10:00deed of 28-06-2022 (in Dutch)
- Peppol
- Reachable since 30-01-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- SPL Projects in Dutch
- Entity type
- Legal entity
Activities
NACEBEL 202568121
Development of residential building projects main activity
43230
Insulation installation
Codes under NACEBEL 2008
41101
Real estate development main activity
41102
Construction of residential and non-residential buildings
43291
Specialised construction activities
43390
Specialised construction activities
43995
Specialised construction activities
43999
Specialised construction activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het aannemen van metselwerken,voegwerken,dakwerken,chapewerken,vloer- en muurbekledingen,stukadoorwerken,plafoneer- en cementwerken,alsook…”deed of 28-06-2022 (in Dutch)
9 activities
- Het aannemen van metselwerken,voegwerken,dakwerken,chapewerken,vloer- en muurbekledingen,stukadoorwerken,plafoneer- en cementwerken,alsook alle werken die nodig zijn om een gebouw af te werken;
- De aanneming en uitvoering van slopingswerken;
- De aanneming van isolatiewerken;
- Het aanleggen van aan- en opritten,in- en uitritten in kasseien,klinkers en andere materialen;
- Algemene projectontwikkeling;
- De aankoop,verkoop,invoer en uitvoer van allerhande bouwmaterialen;
- Het plaatsen van omheiningen en afsluitingen in diverse materialen;
- Het uitvoeren van graafwerken voor welke bestemming ook;
- Het uitvoeren van renovatiewerken aan onroerende goederen met name het onderhoud,het herstellen en veranderen van de gebouwen en de inrichting;
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Park Tremeland 7 registered office 3120 Tremelo | ||
| Liersesteenweg 85 B 2220 Heist-op-den-Berg | 24-06-2022 | 2.333.418.340 |
1 former office
- Liersesteenweg 85B, 2220 Heist-op-den-Berg until 01-07-2026 · deed of 21-09-2026
Buildings and parcels at the addresses
- Ground area
- 3,982 m²
- Buildings
- 326 m²
- Volume, LiDAR
- 1,679 m³
- Tallest building
- 9.7 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 24109A0249/00B000 | 2,421 m² | 1 · 172 m² | 8.1 m · 2 |
| 12322F1155/00W000 | 1,561 m² | 1 · 153 m² | 9.7 m · 1 |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0787.642.671