Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
43 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
SPAQuE from Liège, company number BE0243929462, closed financial year 2025 with a result of € -30.1 million after tax. For that financial year SPAQuE recorded revenue of € 10.6 million and equity of € 55.9 million. Compared with financial year 2024, the result moved from € -27.8 million to € -30.1 million. The company made a loss. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 28, 2026.
€ 55.9 million
▲ € 48.2 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -30.1 million
▼ 8 % more loss than in 2024
Profit after tax over the fiscal year.
€ 211 million
▼ 11% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -30 million.
People and assets in 2025
84.4
▲ 3.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 14.4 million
▲ 9% vs 2024
€ 170,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 201,183
▼ 39% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 293.9 million
▼ 11% vs 2024
€ 28 million is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 7.9 million
▼ 26% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 189 days on average.
€ 1.9 million
▲ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 37,788,036 | € 28,700,642 | € 12,449,437 | € 10,622,045 | ▼ 15% |
| Profit after taxes | € -18,390,819 | € -31,290,738 | € -27,763,807 | € -30,118,374 | ▼ € 2.4 million |
| Equity | € 44,715,535 | € 35,438,797 | € 7,674,989 | € 55,889,949 | ▲ € 48.2 million |
| Total debts | € 400,805,166 | € 413,844,647 | € 437,380,182 | € 337,935,396 | ▼ 23% |
| Cash | € 176,888,158 | € 218,345,740 | € 236,178,183 | € 211,042,588 | ▼ 11% |
| Land & buildings | € 328,389 | € 328,389 | € 368,194 | € 889,434 | ▲ 142% |
| Retained profit | € -18,265,818 | € -31,165,738 | € -58,929,546 | € -29,993,374 | ▲ € 28.9 million |
| Bank debt | € 319,837,339 | € 316,243,441 | € 330,264,055 | € 293,919,200 | ▼ 11% |
| Balance sheet total | € 539,964,839 | € 540,475,176 | € 534,100,985 | € 479,804,934 | ▼ 10% |
| Employees (FTE) | 78.8 | 79.1 | 80.6 | 84.4 | ▲ 3.8 |
Key figures of SPAQuE, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to SPAQuE?
What happened at SPAQuE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Isabelle JEURISSEN stepped down as director. NBB
- Sarah LAMBOT stepped down as director. NBB
- Valérie SARETTO stepped down as director. NBB
- Gianni INFANTI stepped down as director. NBB
- Florence GIET stepped down as director. NBB
- Damien ROBERT stepped down as director. NBB
- Cédric GILLIS stepped down as director. NBB
- Raphaël DUBOIS stepped down as director. NBB
In short
From € 18.4 million loss in 2022 to € 30.1 million loss in 2025.
Paid € 17,310 in corporate taxes since 2022.
Pays suppliers within 189 days on average.
Management
Behind SPAQuE are Marie-Julie GOFFAUX and Olivier GRANVILLE. It owns 100% of GEPART, 25% of SEDISOL, 13.1% of RECYLIEGE, 12.6% of RECYDEL and 11% of TRADECOWALL itself.
Directors
According to the 2025 annual accounts
Marie-Julie GOFFAUX
Government commissioner
since 2024
Olivier GRANVILLE
Government commissioner
since 2024
Zalan HEVESI
Director
since 2024 · until 2025
since 2025 · until 2028
Valérie SARETTO
Vice-chairman of the board, Director
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, COLLECTIONS ET PATRIMOINES, FONDS DE PARTICIPATION WALLONIE, Caisse Wallonne d'Allocations Familliales Camille, MOVE
since 2024 · until 2028
since 2025 · until 2028
Florence GIET
Director
since 2025 · until 2028
Vincent URBAIN
Director
since 2024 · until 2025
since 2025 · until 2028
Carlo DI ANTONIO
Chairman of the board
since 2025 · until 2025
Dorian KEMPENEERS
Vice-chairman of the board
Also active at: Réseau Information et Diffusion en Education a l'Environnement, GEPART
since 2024 · until 2025
Stéphane SOZII
Director
since 2024 · until 2025
Cédric GILLIS
Director
Also active at: in BW Association Intercommunale, Intercommunale pure de financement du Brabant Wallon, SOCOFE, GEPART
since 2025 · until 2028
Raphaël DUBOIS
Director
Also active at: Habitat Solidaire de Hesbaye, Centre Sportif Edemond Leburton, GEPART
since 2024 · until 2028
since 2025 · until 2028
since 2024 · until 2025
Establishments
Establishment units
Physical locations of this company
Avenue Maurice-Destenay 13
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 43 companies are registered at this address.
All companies at this address →SOCIETE DE GESTION DU FRI DE LA REGION WALLONNE
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€ -22,100 gross margin · 2025
B.E. Fin
€ 2.9 million gross margin · 2025
WE Environnement
€ -505,635 gross margin · 2025
SPARAXIS
€ 248,646 gross margin · 2025
+38 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
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Details
- Company number
- 0243.929.462
- VAT number
- BE 0243.929.462
- Registered office
- Avenue Maurice-Destenay 13, 4000 Liège
- Names & denominations
- SPAQuE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 March 1991
- Peppol
- Active · Active since 2 Sept 2023
- Contact
- spaque.be [email protected] 0479 88 91 33
- Activities · NACE
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