Financials
- Fiscal year
- 2025
- Turnover
- €4,968
- Loss
- -€4.7m
- Solvency
- -13517.9%
Spray Ventures
ActiveSummary
The computed 12-month bankruptcy probability of Spray Ventures is 2.1% (moderate). The 2025 annual accounts show negative equity (-€3.7m) and a net result of -€4.7m. Its solvency ranks better than 5% of 234 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
What they do
Other research and development on natural sciences
NACE 72109NACE 72190
1 site
How big
€4,968turnover 2025
- Equity
- -€3.7m
- Loss
- -€4.7m
Who decides
Accounts filed 31 d late0 of 1 deed read
Why 51- Liquidity: current ratio 0.01- Negative equity -€3.7m+ Sector Scientific research and development (NACE 72)+ Size: turnover €4,968, total assets €27,331Show the evidence
Checked score
Score 2025
51
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 6% of its sector peers (NACE 72, micro)
Performance against the sector, not lower risk
Financial strength
Weak
Solvency
0
equity -13517.9% of total assets
Liquidity
0
short-term debt 13617.9%
Profitability
0
return on assets -17176.8%
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
- Sector Scientific research and development (NACE 72) lowers the probability
- Size: turnover €4,968, total assets €27,331 lowers the probability for this profile
- Liquidity: current ratio 0.01 raises the probability
- Negative equity -€3.7m raises the probability
No credit on open account
Liquidity short (current ratio 0.01), and equity is negative.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 72, micro). Better than this share of them on solvency 6%, liquidity 0%, profitability 10%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
Founded in 2024, under 3 years in business. Failure risk is statistically highest between 2 and 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 1 filingDeviation from the deadline
2025
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
- Annual accounts filedfiscal year 2025 · abbreviated…
Key points
By topic
Timeline
- Events
- 1
- Since
- 2026
- 31-08-2026Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Other research and development on natural sciencesNACE 72109
- Founded
- 29-10-2024
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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