Equity
Debts exceed assets in financial year 2024.
Debts exceed assets in financial year 2024.
The 2023 and 2024 financial years closed with a loss. 2023 was the heaviest.
The micro format states no turnover.
Of this, €89,190 falls due within a year.
2025 accounts not filed: deadline was 31-07-2026.
Less equity than 92% of companies in land transport. Sector median €34,018 · 6,614 companies.
The dashed line is the sector median: 1.8% across 9,092 companies (NACE 49, micro).
About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 49, micro). It does better than 11% of them on solvency, 11% on liquidity, 14% on profitability and 1% 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 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% 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).
In July 2024, 6,008 companies had the same profile as SPPS has now. Each dot stands for 16 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SPPS itself: 5.7% within 12 months.
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 6,008 companies, not a prediction for SPPS. 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.
Liquidity is insufficient, with a current ratio of 0.41 (0.3 in 2023), below 1. Short-term debt is 71.9% and cash 0.5% of total assets. Equity is negative.
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.
The company filed its last 6 accounts on average 23 days before the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SPPS Antwerp | €124,040 | €34,597 | -14.4% | - |
| TAWAZA Brussels | €142,817 | €44,817 | 39.4% | - |
| NEXT LEVEL CONSULTING Torhout | €98,743 | €40,521 | 45.7% | - |
| SBR EXPRESS Molenbeek-Saint-Jean | €108,285 | €40,754 | 34.2% | - |
| AMANE-TRANS Berchem-Sainte-Agathe | €104,864 | €31,133 | 82.2% | - |
| DRIVE TRANSPORT Sint-Gillis (bij-Brussel) | €119,717 | €24,058 | 98.8% | - |
| HOLOW Kraainem | €87,813 | €36,218 | 64.3% | - |
These companies have the same main activity as SPPS: non-scheduled passenger transport by road (NACE 49320). They are comparable in size and age: total assets between €87,800 and €143,000, founded between 2016 and 2018.
SPPS files the micro format. That format states no turnover. The gross margin rose from €17,461 in 2018 to €34,597 in 2024.
The balance sheet grew most in 2023 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 9 November 2026.
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 ≈ €100,000. Estimated: probably between €70,000 and €120,000.
Higher than 11% of 6,605 companies in 2024.
Higher than 11% of 6,323 companies in 2024.
Higher than 13% of 6,384 companies in 2024.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2024, 235 short contracts started and 235 ended, on average 6 hours worked per contract. Staff averaged 1.2 full-time equivalents.
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
124,040 | 142,096 | 43,605 | 49,891 | 64,094 | 49,930 | 40,731 | |
21/28 |
87,362 | 103,937 | 9,195 | 28,151 | 43,955 | 21,681 | 28,387 | |
22/27 |
87,362 | 103,937 | 9,195 | 28,151 | 43,955 | 21,681 | 28,387 | |
23 |
65,823 | 75,859 | 3,828 | 6,354 | 13,274 | 21,232 | 27,490 | |
24 |
14,399 | 19,938 | 4,214 | 21,797 | 30,681 | 449 | 897 | |
26 |
7,141 | 8,140 | 1,154 | - | - | - | - | |
29/58 |
36,678 | 38,159 | 34,410 | 21,740 | 20,139 | 28,249 | 12,344 | |
3 |
760 | 3,458 | 3,377 | 2,390 | 2,179 | 2,721 | 1,385 | |
30/36 |
760 | 3,458 | 3,377 | 2,390 | 2,179 | 2,721 | 1,385 | |
40/41 |
26,399 | 24,843 | 20,460 | 14,181 | 11,768 | 21,695 | 5,542 | |
40 |
4,052 | 4,552 | 3,511 | 477 | - | 2,365 | - | |
41 |
22,347 | 20,291 | 16,949 | 13,704 | 11,768 | 19,330 | 5,542 | |
50/53 |
0 | 2,900 | - | - | - | - | - | |
54/58 |
621 | 3,345 | 7,597 | 3,524 | 5,155 | 3,790 | 5,376 | |
490/1 |
8,898 | 3,614 | 2,976 | 1,646 | 1,037 | 42 | 41 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
124,040 | 142,096 | 43,605 | 49,891 | 64,094 | 49,930 | 40,731 | |
10/15 |
-17,842 | 2,536 | 24,082 | 16,169 | 23,595 | 21,050 | 18,819 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | 18,600 | 18,600 | |
11 |
- | - | - | - | 18,600 | - | - | |
1109/19 |
- | - | - | - | 18,600 | - | - | |
13 |
5,482 | 5,482 | 5,482 | 4,995 | 4,995 | 2,450 | 219 | |
130/1 |
- | 0 | 1,860 | 1,860 | 1,860 | - | - | |
130 |
- | - | - | - | - | 1,860 | 219 | |
1311 |
- | 0 | 1,860 | 1,860 | 1,860 | - | - | |
133 |
5,482 | 5,482 | 3,622 | 3,135 | 3,135 | 590 | - | |
14 |
-41,924 | -21,546 | 0 | -7,426 | - | - | - | |
17/49 |
141,882 | 139,561 | 19,523 | 33,722 | 40,499 | 28,880 | 21,912 | |
17 |
52,692 | 13,190 | 0 | 12,314 | 21,345 | 10,693 | 15,637 | |
170/4 |
52,692 | 13,190 | 0 | 12,314 | 21,345 | 10,693 | 15,637 | |
42/48 |
89,190 | 126,371 | 19,523 | 21,408 | 19,154 | 18,187 | 6,275 | |
42 |
12,239 | 3,562 | 438 | 9,031 | 8,848 | 4,944 | 4,825 | |
43 |
3,142 | 2,883 | 1,896 | 1,544 | 367 | - | - | |
430/8 |
- | 0 | 1,896 | 1,544 | 367 | - | - | |
439 |
3,142 | 2,883 | - | - | - | - | - | |
44 |
56,458 | 101,698 | 9,355 | 10,441 | 7,368 | 12,150 | 1,185 | |
440/4 |
56,458 | 101,698 | 9,355 | 10,441 | 7,368 | 12,150 | 1,185 | |
46 |
11,326 | 10,890 | - | - | - | - | - | |
45 |
6,026 | 7,337 | 7,835 | 392 | 2,572 | 1,093 | 265 | |
450/3 |
5,323 | 5,197 | 6,885 | 0 | 2,572 | 4 | 4 | |
454/9 |
703 | 2,140 | 950 | 392 | - | 1,090 | 261 | |
| Income statement | ||||||||
76A |
0 | 5,425 | 1,244 | - | - | - | - | |
9900 |
34,597 | 21,879 | 44,660 | 40,197 | 43,458 | 26,244 | 17,461 | |
62 |
23,593 | 26,201 | 20,758 | 25,674 | 27,381 | 14,722 | 8,239 | |
630 |
20,967 | 9,090 | 8,882 | 12,499 | 9,693 | 8,406 | 7,839 | |
640/8 |
3,457 | 4,097 | 1,660 | 1,242 | 742 | 1 | 387 | |
66A |
0 | 5 | 100 | 3,884 | - | - | - | |
9901 |
-13,420 | -17,513 | 13,260 | -3,102 | 5,642 | 3,115 | 996 | |
75/76B |
1,131 | 1,509 | 980 | 810 | 1,473 | 1,005 | 355 | |
75 |
1,131 | 1,509 | 980 | 810 | 1,473 | 1,005 | 355 | |
65/66B |
7,770 | 5,260 | 5,026 | 5,134 | 3,915 | 1,890 | 1,132 | |
65 |
7,770 | 5,260 | 5,026 | 5,134 | 3,915 | 1,890 | 1,132 | |
9903 |
-20,059 | -21,264 | 9,213 | -7,426 | 3,200 | 2,230 | 219 | |
67/77 |
318 | 282 | 1,300 | -0 | 655 | - | - | |
9904 |
-20,377 | -21,546 | 7,913 | -7,426 | 2,545 | 2,230 | 219 | |
9905 |
-20,377 | -21,546 | 7,913 | -7,426 | 2,545 | 2,230 | 219 | |
| Appropriation of the result | ||||||||
9906 |
-41,924 | -21,546 | 487 | -7,426 | 2,545 | 2,230 | 219 | |
14P |
-21,546 | 0 | -7,426 | - | - | - | - | |
691/2 |
- | 0 | 487 | 0 | 2,545 | 2,230 | 219 | |
6920 |
- | - | - | - | - | 1,641 | 219 | |
6921 |
- | 0 | 487 | 0 | 2,545 | 590 | - | |
| Social balance sheet | ||||||||
9087 |
1.2 | 1.1 | 0.6 | 1.3 | 1 | - | 0.4 | |
Hours worked1013 |
1,502 | 1,776 | 1,151 | 1,425 | 1,673 | - | 613 | |
| Document | ||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 25-07-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 25-07-2025 | 2025-00307594 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00207174 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00278371 | |
| 31-12-2021 | micro format | 06-07-2022 | 2022-20145036 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-33000383 | |
| 31-12-2019 | micro format | 11-06-2020 | 2020-16300362 | |
| 31-12-2018 | micro format | 28-11-2019 | 2019-74500454 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| 7,546 | -8,424 | 22,142 | 9,397 | 15,335 | 11,522 | 8,836 | ||
| 589 | -12,457 | 16,795 | 5,073 | 12,238 | 10,637 | 8,059 | ||
| 4,392 | 105,839 | 7,691 | 4,132 | 31,967 | 1,700 | 36,226 | ||
| -2,724 | -4,252 | 4,073 | -1,631 | 1,365 | -1,586 | - | ||
| -52,512 | -88,211 | 14,887 | 332 | 985 | 10,062 | 6,069 | ||
| -14.4% | 1.8% | 55.2% | 32.4% | 36.8% | 42.2% | 46.2% | ||
| 0.41 | 0.30 | 1.76 | 1.02 | 1.05 | 1.55 | 1.97 | ||
| 0.40 | 0.27 | 1.59 | 0.90 | 0.94 | 1.40 | 1.75 | ||
| - | 55.04 | 0.81 | 2.09 | 1.72 | 1.37 | 1.16 | ||
| - | -849.8% | 32.9% | -45.9% | 10.8% | 10.6% | 1.2% | ||
| -16.4% | -15.2% | 18.1% | -14.9% | 4.0% | 4.5% | 0.5% | ||
| 0.97 | -1.60 | 4.41 | 1.83 | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|
| 1.2 | 1.1 | 0.6 | 1.3 | |
| Joined | 235 | 270 | 198 | 230 |
| Left | 235 | 270 | 197 | 230 |
Source: social balance sheet in the 2021 to 2024 annual accounts
| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €4,392 | €105,839 | €7,691 | €4,132 |
| €20,967 | €9,090 | €8,882 | €12,499 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is a loss of €13,420, smaller than the loss of €17,513 in 2023.
Equity is negative. Debt (€141,882) exceeds the balance-sheet total (€124,040).
SPPS has no parent and no holdings in its annual accounts. PETRUSIC Slaven is the only director. SPPS shares no director with another company.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| FRIETBAR registered office Doornstraat 200, 2610 Antwerp | 01-02-2018 | 2.271.544.515 | Chip shop |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11463D0359/00L008 | 248 m² | 1 · 198 m² | 7.9 m · 2 |
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