Financials
Financial year 2025
Spencer Stuart Management Consultants from Elsene, company number BE0406981316, closed financial year 2025 with a result of € 350,137 after tax. For that financial year Spencer Stuart Management Consultants recorded revenue of € 11.7 million and equity of € 3.1 million. Compared with financial year 2024, the result moved from € 619,160 to € 350,137. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on March 30, 2026.
€ 3.1 million
▲ 13% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 350,137
▼ 43% vs 2024
Profit after tax over the fiscal year.
€ 540,305
▲ 7% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -1.1 million.
People and assets in 2025
13.4
▼ 0.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.2 million
▼ 14% vs 2024
€ 167,700 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.
€ 29,496
▼ 17% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 3.4 million
▲ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 135 days on average.
€ 951,025
▲ 68% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 10,825,318 | € 10,969,960 | € 11,810,399 | € 11,735,922 | ▼ 1% |
| Profit after taxes | € 224,985 | € -224,313 | € 619,160 | € 350,137 | ▼ 43% |
| Equity | € 2,357,486 | € 2,133,172 | € 2,752,332 | € 3,102,469 | ▲ 13% |
| Total debts | € 2,188,916 | € 3,843,946 | € 3,783,453 | € 4,525,932 | ▲ 20% |
| Cash | € 1,927,524 | € 669,043 | € 505,698 | € 540,305 | ▲ 7% |
| Retained profit | € -1,816,775 | € -2,041,088 | € -1,421,928 | € -1,071,791 | ▲ € 350,137 |
| Balance sheet total | € 4,546,401 | € 5,977,118 | € 6,535,785 | € 7,628,401 | ▲ 17% |
| Employees (FTE) | 11.9 | 13.2 | 14 | 13.4 | ▼ 0.6 |
Key figures of Spencer Stuart Management Consultants, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to Spencer Stuart Management Consultants?
What happened at Spencer Stuart Management Consultants in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Luigi Paro stepped down as director. NBB
- Elias Nevarez stepped down as director. NBB
- Olivier Knapp Consulting BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 350,137 (▼ 43% vs 2024). Source: NBB ↗
- Luigi Paro became a director. NBB
- Elias Nevarez became a director. NBB
- Olivier Knapp Consulting BV became a director. NBB
- New establishment in Machelen (Brab.). KBO
In short
From € 224,985 profit in 2022 to € 350,137 profit in 2025.
Paid € 202,806 in corporate taxes since 2022.
Best year ever: 2024, with € 619,160 profit.
Pays suppliers within 135 days on average.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Spencer Stuart International BV and Esaress International Group Inc.
Directors
According to the 2025 annual accounts
Luigi Paro
Director
since 2024 · until 2030
Elias Nevarez
Director
since 2024 · until 2030
Director · represented by Olivier Knapp
since 2024 · until 2030
Shareholders
Spencer Stuart International BV
Esaress International Group Inc
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Marsveldplein 5
1050 Elsene
Culliganlaan 2 box F
1831 Machelen (Brab.)
Active since 1 March 1970
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0406.981.316
- VAT number
- BE 0406.981.316
- Registered office
- Marsveldplein 5, 1050 Elsene
- Names & denominations
- Spencer Stuart Management Consultants
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 January 1970
- Peppol
- Active · Active since 5 Dec 2025
- Activities · NACE
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