Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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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 35 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
14 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
SPAPENS from Charleroi, company number BE0429984568, closed financial year 2025 with a result of € -918,955 after tax. For that financial year SPAPENS recorded a gross margin of € 1.1 million and equity of € -1.1 million. Compared with financial year 2024, the result moved from € -286,643 to € -918,955. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 26, 2026.
€ -1.1 million
▼ € 930,955 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -918,955
▼ 221 % more loss than in 2024
Profit after tax over the fiscal year.
€ 456,335
▲ 53% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2025
25.3
▲ 3.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.5 million
▲ 14% vs 2024
€ 58,900 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.
€ 23,436
▼ 41% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 909,938
▲ 5% vs 2024
€ 453,930 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 2.5 million
▲ 59% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 278,011
▲ 102% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,353,109 | € 1,499,178 | € 1,492,975 | € 1,058,985 | ▼ 29% |
| Profit after taxes | € 158,220 | € 39,028 | € -286,643 | € -918,955 | ▼ € 632,312 |
| Equity | € 93,951 | € 132,979 | € -165,664 | € -1,096,619 | ▼ € 930,955 |
| Total debts | € 2,221,006 | € 2,247,638 | € 2,720,828 | € 4,205,237 | ▲ 55% |
| Cash | € 101,244 | € 125,903 | € 298,421 | € 456,335 | ▲ 53% |
| Land & buildings | € 354,839 | € 477,837 | € 409,902 | € 352,524 | ▼ 14% |
| Retained profit | € 39,359 | € 78,387 | € -208,256 | € -1,127,211 | ▼ € 918,955 |
| Dividend | € 554,607 | € 0 | € 0 | € 0 | |
| Bank debt | € 522,575 | € 607,547 | € 869,326 | € 909,938 | ▲ 5% |
| Balance sheet total | € 2,326,958 | € 2,380,617 | € 2,555,164 | € 3,108,618 | ▲ 22% |
| Employees (FTE) | 21.1 | 21.5 | 22.2 | 25.3 | ▲ 3.1 |
Key figures of SPAPENS, 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 SPAPENS?
What happened at SPAPENS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 918,955. filed late Source: NBB ↗
- ML HOLDING SRL became a director. NBB
- ALN HOLDING SRL became a director. NBB
- MIZ MANAGEMENT SRL became a director. NBB
- New establishment in Charleroi. KBO
- Start of the company according to the CBE. KBO
In short
From € 158,220 profit in 2022 to € 918,955 loss in 2025.
Paid € 55,820 in corporate taxes since 2022.
Best year ever: 2022, with € 158,220 profit.
On average € 41,900 of value added per employee in 2025.
Management
The stake of CONDACUM, ML HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SPAPENSBehind SPAPENS are ML HOLDING SRL, ALN HOLDING SRL and MIZ MANAGEMENT SRL. The shares are held by CONDACUM (100%) and ML HOLDING (33.3%). It owns 20% of A-Z FOOD itself.
Directors
According to the 2025 annual accounts
Director · represented by Mikael LOZANO
Also active at: de Boeck foods, ROJA, DE BOECK FOODS SERVICES, DE BOECK FOODS LUX, IMMOBILIERE LOZANO IZZARELLI SOLLIMA, PRO-HORECA, ROYAL GROUP BOURKHA IMMO, DE BOECK FOODS SNACKING
since 2024
Director · represented by Michele ARAGONA
Also active at: de Boeck foods, ROJA, DE BOECK FOODS SERVICES, DE BOECK FOODS LUX, IMMOBILIERE LOZANO IZZARELLI SOLLIMA, PRO-HORECA, ROYAL GROUP BOURKHA IMMO, DE BOECK FOODS SNACKING
since 2024
Director · represented by Mathias IZZARELLI
Also active at: de Boeck foods, ROJA, DE BOECK FOODS SERVICES, DE BOECK FOODS LUX, IMMOBILIERE LOZANO IZZARELLI SOLLIMA, PRO-HORECA, DE BOECK FOODS SNACKING
since 2024
Shareholders
100%
33.3%
Participations
20%
Establishments
Establishment units
Physical locations of this company
Rue des Forgerons 102
6001 Charleroi
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 14 companies are registered at this address.
All companies at this address →EURO-FRUITS
€ 25.8 million revenue · 2024
Banque Alimentaire du Pays de Charleroi et du Centre
NEW PAPER - SHOP
€ 423,163 gross margin · 2025
GENERAL.FOOD.COMPANY - AZAABAL
AU COQ WALLON
€ 275,907 gross margin · 2024
+9 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0429.984.568
- VAT number
- BE 0429.984.568
- Registered office
- Rue des Forgerons 102, 6001 Charleroi
- Names & denominations
- SPAPENS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 December 1986
- Peppol
- Active · Active since 23 Dec 2025
- Activities · NACE
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Overige niet-gespecialiseerde groothandel in voedings- en genotmiddelen
Groothandel in zuivelproducten en eieren
Detailhandel in zuivelproducten en eieren
Detailhandel in vlees en vleesproducten, muv vlees van wild en van gevogelte
Detailhandel in wijnen en geestrijke dranken
Groothandel in dranken, algemeen assortiment
Groothandel in wijnen en geestrijke dranken