Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 55 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SPAG from Rebecq, company number BE0650869901, closed financial year 2025 with a result of € 302 after tax. For that financial year SPAG recorded a gross margin of € 14,472 and equity of € 15,832. Compared with financial year 2024, the result moved from € 132 to € 302. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 22, 2026.
€ 15,832
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 302
▲ 129% vs 2024
Profit after tax over the fiscal year.
€ 1,662
▲ 124% 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 € 9,632.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 18,475
▲ 260% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 15,221
€ 3,221 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 3,167
▼ 81% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 9,477 | € 28,368 | € 11,604 | € 14,472 | ▲ 25% |
| Profit after taxes | € 801 | € 17,045 | € 132 | € 302 | ▲ 129% |
| Equity | € -1,647 | € 15,398 | € 15,530 | € 15,832 | ▲ 2% |
| Total debts | € 60,446 | € 49,042 | € 101,071 | € 100,796 | |
| Cash | € 477 | € 1,567 | € 744 | € 1,662 | ▲ 124% |
| Land & buildings | € 18,827 | € 16,026 | € 50,368 | € 37,550 | ▼ 25% |
| Retained profit | € -7,847 | € 9,198 | € 9,330 | € 9,632 | ▲ 3% |
| Bank debt | € 7,696 | € 5,560 | € 0 | € 15,221 | |
| Balance sheet total | € 58,799 | € 64,440 | € 116,601 | € 116,628 |
Key figures of SPAG, 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 SPAG?
What happened at SPAG in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 302 (▲ 129% vs 2024). filed late Source: NBB ↗
- New establishment in Rebecq. KBO
- Start of the company according to the CBE. KBO
In short
From € 801 profit in 2022 to € 302 profit in 2025.
Paid € 3,315 in corporate taxes since 2022.
Best year ever: 2023, with € 17,045 profit.
Management
Behind SPAG is Gabriele Schirru.
Directors
According to the 2025 annual accounts
Gabriele Schirru
Director
Establishments
Establishment units
Physical locations of this company
Chemin Tambourin 3
1430 Rebecq
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0650.869.901
- VAT number
- BE 0650.869.901
- Registered office
- Chemin Tambourin 3, 1430 Rebecq
- Names & denominations
- SPAG
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 March 2016
- Peppol
- Active · Active since 27 May 2025
- Activities · NACE
Installatie van isolatie
Isolatiewerkzaamheden