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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Shrinking team NBB
FTE fell two years in a row, from 38.2 to 29.5.
Financials
Financial year 2025
FRESH SPEGELAERE from Gistel, company number BE0452992275, closed financial year 2025 with a result of € -731,072 after tax. For that financial year FRESH SPEGELAERE recorded revenue of € 30.9 million and equity of € 2.5 million. Compared with financial year 2024, the result moved from € -343,545 to € -731,072. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 2.5 million
▼ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -731,072
▼ 113 % more loss than in 2024
Profit after tax over the fiscal year.
€ 768,388
▲ 29% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -140,066.
People and assets in 2025
29.5
▼ 7.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▼ 6% vs 2024
€ 60,500 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.
€ 452,357
▼ 16% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 192,172
▼ 10% vs 2024
€ 22,329 is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 2.2 million
▲ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 26 days on average.
€ 321,623
▲ 36% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 30,165,615 | € 31,132,973 | € 32,315,332 | € 30,872,148 | ▼ 4% |
| Profit after taxes | € 257,443 | € 7,821,664 | € -343,545 | € -731,072 | ▼ € 387,527 |
| Equity | € 5,927,987 | € 3,617,551 | € 3,274,006 | € 2,542,934 | ▼ 22% |
| Total debts | € 7,918,580 | € 16,494,893 | € 6,847,257 | € 7,456,621 | ▲ 9% |
| Cash | € 861,240 | € 1,387,958 | € 593,664 | € 768,388 | ▲ 29% |
| Land & buildings | € 446,717 | € 499,987 | € 440,348 | € 380,709 | ▼ 14% |
| Retained profit | € 3,244,987 | € 934,551 | € 591,006 | € -140,066 | ▼ € 731,072 |
| Dividend | € 0 | € 10,132,100 | € 0 | € 0 | |
| Bank debt | € 0 | € 234,846 | € 213,833 | € 192,172 | ▼ 10% |
| Balance sheet total | € 13,894,289 | € 20,157,131 | € 10,162,527 | € 10,237,396 | ▲ 1% |
| Employees (FTE) | 34 | 38.2 | 36.9 | 29.5 | ▼ 7.4 |
Key figures of FRESH SPEGELAERE, 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 FRESH SPEGELAERE?
What happened at FRESH SPEGELAERE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Kristof Spegelaere stepped down as director. NBB
- Jan Spegelaere stepped down as director. NBB
- Stefaan Spegelaere stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 731,072. filed late Source: NBB ↗
- Kristof Spegelaere became a director. NBB
- Jan Spegelaere became a director. NBB
- Stefaan Spegelaere became a director. NBB
- New establishment in Ichtegem. KBO
In short
From € 257,443 profit in 2022 to € 731,072 loss in 2025.
Paid € 16,408 in corporate taxes since 2022.
Best year ever: 2023, with € 7.8 million profit.
Paid out € 10.1 million in dividends to the owners in total.
Management
The shares are held by Arsu NV (99.4%).
Directors
According to the 2025 annual accounts
Kristof Spegelaere
Managing director
Also active at: Handelaars in Voeding Van Noord en Zuid Vlaanderen, JABBEEKSE SUPERMARKT, FERA, ARSU, Sea Shopping, Leburo
since 2017 · until 2029
Jan Spegelaere
Managing director
Also active at: OUDENBURGSE SUPERMARKT, FERA, ARSU, Sea Shopping, Leburo
since 2017 · until 2029
since 2017 · until 2029
Shareholders
99.4%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Zevekoteheirweg 89
8470 Gistel
Fabriekweg(EER) 5
8480 Ichtegem
Active since 3 August 2010
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
- 0452.992.275
- VAT number
- BE 0452.992.275
- Registered office
- Zevekoteheirweg 89, 8470 Gistel
- Names & denominations
- FRESH SPEGELAERE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 June 1994
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Niet-gespecialiseerde groothandel in niet-diepgevroren voedingsmiddelen, dranken en genotmiddelen
Overige niet-gespecialiseerde groothandel in voedings- en genotmiddelen
Supermarkten (verkoopsoppervlakte tussen 400 m2 en minder dan 2.500 m2)
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 400 m² en minder dan 2500 m²)