SPODEN TH.
ActiveSPODEN TH. has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.44M and a net result of €281k. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 87% of 4808 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
93
/ 100
Excellent▲ +3 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability58▼-18
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230k at 30 days acceptable
Liquidity ample (current ratio 4.93 against 4.2 in 2024), and 18.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
81.6%
Return on assets
9.4%
Age of the figures
11 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
29 d early
2023
123 d early
2022
30 d early
2021
32 d early
2020
29 d early
2019
31 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
11-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€281k▼ 14.8%
2024 · €330k
2018: €93k
2019: €140k
2020: €235k
2021: €277k
2022: €491k
2023: €389k
2024: €330k
2018 → 2025
Working capital
€2.17M▲ 13.0%
2024 · €1.92M
2018: €1.03M
2019: €587k
2020: €610k
2021: €884k
2022: €1.40M
2023: €1.74M
2024: €1.92M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.60M-€2.09M▲ 30.3%€2.47M▲ 18.5%€2.16M▼ 12.5%€2.44M▲ 13.0%
Operating result€406k-€685k▲ 68.7%€591k▼ 13.8%€468k▼ 20.8%€380k▼ 18.7%
Net result€277k-€491k▲ 77.0%€389k▼ 20.8%€330k▼ 15.0%€281k▼ 14.8%
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 19% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.00M
Fixed assets
€280k▲ 12.7%
Current assets
€2.72M▲ 8.0%
Equity and liabilities €3.00M
Equity
€2.44M▲ 13.0%
Debt
€551k▼ 8.0%
The debt ratio falls from 21.7% to 18.4%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€486k▼
2024 · €552k
Cash flow
€387k▼
2024 · €415k
Solvency
81.6%▲
2024 · 78.3%
Current ratio
4.93▲
2024 · 4.20
Quick ratio
4.24▲
2024 · 3.51
Debt / equity
0.23▼
2024 · 0.28
ROE
11.5%▼
2024 · 15.3%
ROA
9.4%▼
2024 · 12.0%
Interest coverage
14.25▼
2024 · 42.97
Debt
€551k▼
2024 · €599k
Debt ≤ 1 year
€550k▼
2024 · €599k
Income taxes
€90k▼
2024 · €132k
Staff costs
€219k▲
2024 · €175k
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€2.76M€3.00M▲
Fixed assets21/28€248k€280k▲
Intangible fixed assets21€10k€5k▼
Tangible fixed assets22/27€238k€275k▲
Plant, machinery and equipment23€66k€81k▲
Furniture and vehicles24€172k€194k▲
Current assets29/58€2.51M€2.72M▲
Stocks and contracts in progress3€414k€380k▼
Stocks30/36€414k€380k▼
Amounts receivable within one year40/41€1.10M€1.17M▲
Trade receivables40€1.10M€1.12M▲
Other amounts receivable41-€49k
Current investments50/53€231k€261k▲
Cash at bank and in hand54/58€741k€873k▲
Deferred charges and accrued income490/1€29k€34k▲
Equity and liabilities
Total equity and liabilities10/49€2.76M€3.00M▲
Equity10/15€2.16M€2.44M▲
Contributions10/11€93k€93k=
Reserves13€1.94M€2.22M▲
Tax-exempt reserves132€583k€751k▲
Distributable reserves133€1.35M€1.47M▲
Profit (loss) carried forward14€135k€135k=
Investment grants15€214€111▼
Amounts payable17/49€599k€551k▼
Amounts payable within one year42/48€599k€550k▼
Current portion of amounts payable after more than one year42€33k-
Trade debts44€86k€151k▲
Suppliers440/4€86k€151k▲
Taxes, remuneration and social security45€82k€37k▼
Taxes450/3€63k€17k▼
Remuneration and social security454/9€19k€20k▲
Other amounts payable47/48€398k€362k▼
Accrued charges and deferred income492/3€482€666▲
Income statement
Code20242025
Remuneration, social security and pensions62€175k€219k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€84k€105k▲
Other operating charges640/8€19k€9k▼
Gross operating margin9900€746k€714k▼
Operating profit (loss)9901€468k€380k▼
Financial income75/76B€7k€25k▲
Recurring financial income75€7k€25k▲
Financial charges65/66B€13k€34k▲
Recurring financial charges65€13k€34k▲
Profit (loss) for the period before taxes9903€462k€371k▼
Income taxes67/77€132k€90k▼
Profit (loss) for the period9904€330k€281k▼
Transfer from tax-exempt reserves789€16k-
Transfer to tax-exempt reserves689€147k€168k▲
Profit (loss) for the period to be appropriated9905€199k€113k▼
Appropriation of the result
Profit (loss) to be appropriated9906€334k€248k▼
Profit (loss) brought forward from the previous period14P€135k€135k=
Transfer to equity691/2€199k€113k▼
To other reserves6921€199k€113k▼
Social balance
Average headcount (FTE)90873.13.6▲
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
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
29-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-09
Financial
Highest result since 2018net €491k ▲77%
Operating result €685k, net result €491k, both a record.
30-09
Financial
Equity above €2MEq €2.09M ▲30.3%
5 profitable years in a row build equity to €2.09M.
29-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
01-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Amel · 1 establishment unit since 2003
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.
Montenau,Am Bahnhof 324770 Amel1 establishment unit
Montenau,Am Bahnhof 32, 4770 Amel
since 20032.123.251.311
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Of 689 companies in sector 46216 we hold annual accounts for 475. 349 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-12-2002
Fiscal year end30-09
Activities, NACEBEL
46216Wholesale of agricultural produce and animal feed, general range
51210
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filings
Data from official sources, last processed on 09-09-2026. Scores and ratios are computed by Checked and are not a credit decision.