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 2025 and 2026.
-
Tight liquidity NBB
Cash and receivables cover 40 % of short-term debt in 2026; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 71.9 to 51.1.
Financials
Financial year 2026
EUROPEAN SPINNING GROUP from Spiere-Helkijn, company number BE0416644890, closed financial year 2026 with a result of € -1.8 million after tax. For that financial year EUROPEAN SPINNING GROUP recorded revenue of € 17.1 million and equity of € 14.2 million. Compared with financial year 2025, the result moved from € -2.8 million to € -1.8 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on September 29, 2026.
€ 14.2 million
▼ 11% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.8 million
▲ 37 % less loss than in 2025
Profit after tax over the fiscal year.
€ 779,253
▲ 15% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 6.6 million.
People and assets in 2026
51.1
▼ 17.2 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 3.3 million
▼ 16% vs 2025
€ 64,400 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.
€ 9,353
▼ 64% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 9.8 million
▲ 1% vs 2025
Loans from banks and other lenders, long and short.
€ 2.2 million
▲ 52% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 54 days on average.
€ 595,105
▼ 15% vs 2025
Taxes, VAT and social contributions still to pay.
| 2022 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 865,172 | € 16,994,155 | € 19,269,018 | € 17,101,268 | ▼ 11% |
| Profit after taxes | € 142,147 | € -1,272,950 | € -2,817,932 | € -1,781,893 | ▲ € 1 million |
| Equity | € 20,140,834 | € 18,845,196 | € 16,027,264 | € 14,245,372 | ▼ 11% |
| Total debts | € 675,956 | € 11,269,589 | € 11,954,887 | € 12,681,251 | ▲ 6% |
| Cash | € 46,276 | € 792,348 | € 679,165 | € 779,253 | ▲ 15% |
| Land & buildings | - | € 9,892,052 | € 9,838,957 | € 9,716,853 | ▼ 1% |
| Retained profit | € 19,940,834 | € 11,234,891 | € 8,416,959 | € 6,635,067 | ▼ 21% |
| Bank debt | € 250,000 | € 7,945,830 | € 9,734,327 | € 9,786,301 | ▲ 1% |
| Balance sheet total | € 20,816,790 | € 31,141,167 | € 28,146,648 | € 26,926,623 | ▼ 4% |
| Employees (FTE) | 6 | 71.9 | 68.3 | 51.1 | ▼ 17.2 |
Key figures of EUROPEAN SPINNING GROUP, fiscal years 2022 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to EUROPEAN SPINNING GROUP?
What happened at EUROPEAN SPINNING GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Julie Lietaer stepped down as director. NBB
- Karel Ghesquiere stepped down as director. NBB
- New annual accounts for financial year 2026: loss of € 1.8 million. Source: NBB ↗
- Alice Messiaen stepped down as director. NBB
- Gilles Lietaer stepped down as director. NBB
- Julie Lietaer became a director. NBB
- Alice Messiaen became a director. NBB
- Karel Ghesquiere became a director. NBB
In short
From € 142,147 profit in 2022 to € 1.8 million loss in 2026.
Paid € 74,140 in corporate taxes since 2022.
Best year ever: 2022, with € 142,147 profit.
Pays suppliers within 54 days on average.
Management
The stake of FinAnSi comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
EUROPEAN SPINNING GROUPThe shares are held by FinAnSi (23.9%). It owns 100% of Assoc Textiles itself.
Directors
According to the 2026 annual accounts
Julie Lietaer
Director
Also active at: SYMACO, AVS SPINNING, Kruisem Logistics Park, DEMTEX, SAMAINVEST, Katholieke Hogeschool Vives Zuid, Katholieke Hogeschool VIVES Noord, ASSOC TEXTILES +3 more
since 2023 · until 2029
since 2023 · until 2026
Karel Ghesquiere
Director
Also active at: SYMACO, AVS SPINNING, Kruisem Logistics Park, FinAnSi, KARFEAX
since 2023 · until 2029
since 2023 · until 2026
Shareholders
23.9%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Ijzeren Bareel 42
8587 Spiere-Helkijn
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0416.644.890
- VAT number
- BE 0416.644.890
- Registered office
- Ijzeren Bareel 42, 8587 Spiere-Helkijn
- Names & denominations
- EUROPEAN SPINNING GROUP · ESG
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 2 July 1976
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Bewerken en spinnen van textielvezels
Activiteiten van holdings
Handelsbemiddeling in de groothandel in textiel, kleding, bont, schoeisel en lederwaren
Textielveredeling
Groothandel in huishoudtextiel en beddengoed
Overige zakelijke dienstverlening, neg
Holdings