SPS FIN
ActiveSPS FIN has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.70M and a net result of €423k. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 36% of 2037 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+19
Solvency58▲+2
Growth83▲+31
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity short (current ratio 0.73 against 0.71 in 2024; short-term debt: 25.6% and cash: 15.7% of total assets), and 67% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
33%
Return on assets
8.2%
Age of the figures
9 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
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
7 d early
2023
15 d early
2022
27 d early
2021
26 d early
2020
16 d early
2019
9 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.58M▲ 18.2%
2024 · €1.33M
2024: €1.33M
2024 → 2025
EBIT margin
36.1%▲ 11.2pp
2024 · 24.9%
2024: 24.9%
2024 → 2025
Net result
€423k▲ 353%
2024 · €94k
2018: €318k
2019: €274k
2020: €333k
2021: €206k
2022: €503k
2023: €172k
2024: €94k
2018 → 2025
Working capital
€-357k▼ 42.5%
2024 · €-251k
2018: €-125k
2019: €-100k
2020: €131k
2021: €-348k
2022: €28k
2023: €-255k
2024: €-251k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.33M€1.58M▲ 18.2%
Equity€1.65M-€2.07M▲ 25.2%€1.76M▼ 15.1%€1.76M▲ 0.4%€1.70M▼ 3.6%
Operating result€429k-€699k▲ 63.0%€443k▼ 36.7%€333k▼ 24.9%€570k▲ 71.3%
Net result€206k-€503k▲ 145%€172k▼ 65.7%€94k▼ 45.7%€423k▲ 353%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 71% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.16M
Fixed assets
€4.20M▼ 15.9%
Current assets
€963k▲ 53.3%
Equity and liabilities €5.16M
Equity
€1.70M▼ 3.6%
Provisions
€212k▲ 16.1%
Debt
€3.24M▼ 11.5%
The debt ratio falls from 65.3% to 62.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.36M▲
2024 · €1.12M
Cash flow
€1.21M▲
2024 · €885k
Solvency
33.0%▲
2024 · 31.4%
Current ratio
0.73▲
2024 · 0.71
Quick ratio
0.73▲
2024 · 0.71
Debt / equity
1.91▼
2024 · 2.08
ROE
24.9%▲
2024 · 5.3%
ROA
8.2%▲
2024 · 1.7%
Interest coverage
5.86▲
2024 · 3.46
Debt
€3.24M▼
2024 · €3.67M
Debt ≤ 1 year
€1.32M▲
2024 · €878k
Debt > 1 year
€1.92M▼
2024 · €2.79M
Income taxes
€3
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€5.61M€5.16M▼
Fixed assets21/28€4.99M€4.20M▼
Tangible fixed assets22/27€4.99M€4.20M▼
Plant, machinery and equipment23€4.99M€4.20M▼
Current assets29/58€628k€963k▲
Amounts receivable within one year40/41€142k€139k▼
Trade receivables40€139k€137k▼
Other amounts receivable41€3k€3k▼
Cash at bank and in hand54/58€468k€811k▲
Deferred charges and accrued income490/1€18k€12k▼
Equity and liabilities
Total equity and liabilities10/49€5.61M€5.16M▼
Equity10/15€1.76M€1.70M▼
Contributions10/11€634k€634k=
Capital10€634k€634k=
Issued capital100€634k€634k=
Reserves13€62k€63k▲
Non-distributable reserves130/1€62k€63k▲
Legal reserve130€62k€63k▲
Profit (loss) carried forward14€526k€548k▲
Investment grants15€542k€456k▼
Provisions and deferred taxes16€182k€212k▲
Provisions for liabilities and charges160/5€182k€212k▲
Major repairs and maintenance162€182k€212k▲
Amounts payable17/49€3.67M€3.24M▼
Amounts payable after more than one year17€2.79M€1.92M▼
Financial debts170/4€2.79M€1.92M▼
Amounts payable within one year42/48€878k€1.32M▲
Current portion of amounts payable after more than one year42€820k€864k▲
Trade debts44€55k€47k▼
Suppliers440/4€55k€47k▼
Taxes, remuneration and social security45€4k€9k▲
Taxes450/3€4k€9k▲
Other amounts payable47/48€0€400k▲
Accrued charges and deferred income492/3€14€15▲
Income statement
Code20242025
Turnover70€1.33M€1.58M▲
Goods, raw materials, services and sundry goods60/61€185k€187k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€791k€791k=
Provisions for liabilities and charges: additions (uses and reversals)635/8€25k€29k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€1.15M€1.39M▲
Operating profit (loss)9901€333k€570k▲
Financial income75/76B€86k€86k=
Recurring financial income75€86k€86k=
Financial charges65/66B€325k€232k▼
Recurring financial charges65€325k€232k▼
Profit (loss) for the period before taxes9903€94k€423k▲
Income taxes67/77-€3
Profit (loss) for the period9904€94k€423k▲
Profit (loss) for the period to be appropriated9905€94k€423k▲
Appropriation of the result
Profit (loss) to be appropriated9906€531k€949k▲
Profit (loss) brought forward from the previous period14P€437k€526k▲
Transfer to equity691/2€5k€1k▼
To the legal reserve6920€5k€1k▼
Profit to be distributed694/7€0€400k▲
Return on contributions (dividend)694€0€400k▲
The notes to these accounts (14 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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €94k ▼45.7%
Net result drops to €94k, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €503k ▲145%
Operating result €699k, net result €503k, both a record.
31-12
Financial
Equity above €2MEq €2.07M ▲25.2%
5 profitable years in a row build equity to €2.07M.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Merelbeke-Melle · 1 establishment unit since 2009
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.
Neringsweg 29820 Merelbeke-MelleGround area
1,552 m²
Building footprint
586 m²
Volume, LiDAR
5 m³
Parcel 44043A0759/00H000, Flanders · tallest building 0.3 m. Linked by address, not a title deed.
1 establishment unit
Neringsweg 2, 9820 Merelbeke-Melle
since 20092.178.978.504
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0759/00H000 | Flanders | 1,552 m² | 1 · 586 m² | 0.3 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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A&S T
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J. DE MULDER
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Of 4,096 companies in sector 43240 we hold annual accounts for 1,631. 521 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-04-2009
Fiscal year end31-12
Activities, NACEBEL
43240Other construction installation
43299Specialised construction activities
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
46900Non-specialised wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.