Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
EUROPEAN SPINNING GROUP from Spiere-Helkijn, company number BE0416644890, closed financial year 2025 with a result of € -2.8 million after tax. For that financial year EUROPEAN SPINNING GROUP recorded revenue of € 19.3 million and equity of € 16 million. Compared with financial year 2024, the result moved from € -1.3 million to € -2.8 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 October 14, 2025.
€ 16 million
▼ 15% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.8 million
▼ 121 % more loss than in 2024
Profit after tax over the fiscal year.
€ 679,165
▼ 14% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 8.4 million.
People and assets in 2025
68.3
▼ 3.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.9 million
▲ 3% vs 2024
€ 57,400 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.
€ 26,260
▼ 52% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 9.7 million
▲ 23% vs 2024
€ 198,026 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 1.4 million
▼ 39% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 32 days on average.
€ 700,072
▼ 22% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 844,061 | € 865,172 | € 16,994,155 | € 19,269,018 | ▲ 13% |
| Profit after taxes | € 138,910 | € 142,147 | € -1,272,950 | € -2,817,932 | ▼ € 1.5 million |
| Equity | € 19,998,687 | € 20,140,834 | € 18,845,196 | € 16,027,264 | ▼ 15% |
| Total debts | € 834,790 | € 675,956 | € 11,269,589 | € 11,954,887 | ▲ 6% |
| Cash | € 41,942 | € 46,276 | € 792,348 | € 679,165 | ▼ 14% |
| Land & buildings | - | - | € 9,892,052 | € 9,838,957 | ▼ 1% |
| Retained profit | € 19,798,687 | € 19,940,834 | € 11,234,891 | € 8,416,959 | ▼ 25% |
| Bank debt | € 250,000 | € 250,000 | € 7,945,830 | € 9,734,327 | ▲ 23% |
| Balance sheet total | € 20,833,477 | € 20,816,790 | € 31,141,167 | € 28,146,648 | ▼ 10% |
| Employees (FTE) | 6 | 6 | 71.9 | 68.3 | ▼ 3.6 |
Key figures of EUROPEAN SPINNING GROUP, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
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
- Alice Messiaen stepped down as director. NBB
- Karel Ghesquiere stepped down as director. NBB
- Gilles Lietaer stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2.8 million. Source: NBB ↗
- Alice Messiaen became a director. NBB
- Karel Ghesquiere became a director. NBB
- Gilles Lietaer became a director. NBB
In short
From € 138,910 profit in 2021 to € 2.8 million loss in 2025.
Paid € 142,009 in corporate taxes since 2021.
Best year ever: 2022, with € 142,147 profit.
Pays suppliers within 32 days on average.
A new publication or filing at EUROPEAN SPINNING GROUP? We notify you, reason included.
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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 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 and 100% of Demtex itself.
Directors
According to the 2025 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 2026
since 2023 · until 2026
Karel Ghesquiere
Director
Also active at: SYMACO, AVS SPINNING, Kruisem Logistics Park, FinAnSi, KARFEAX
since 2023 · until 2026
since 2023 · until 2026
Shareholders
23.9%
Participations
100%
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