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 4 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
-
Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
SPA RACING from Stavelot, company number BE0677856982, closed financial year 2025 with a result of € -200,679 after tax. For that financial year SPA RACING recorded a gross margin of € 276,415 and equity of € -1 million. Compared with financial year 2024, the result moved from € -47,737 to € -200,679. 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 July 9, 2026.
€ -1 million
▼ € 200,679 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -200,679
▼ 320 % more loss than in 2024
Profit after tax over the fiscal year.
€ 20,119
▼ 65% 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
6.7
Average over the fiscal year, from the social balance sheet.
€ 320,080
€ 47,800 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.
€ 13,791
▼ 53% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.2 million
▼ 9% vs 2024
€ 108,660 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 557,463
▲ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 66,139
▲ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 285,844 | € 415,475 | € 433,205 | € 276,415 | ▼ 36% |
| Profit after taxes | € -216,645 | € -111,113 | € -47,737 | € -200,679 | ▼ € 152,942 |
| Equity | € -648,654 | € -759,767 | € -807,504 | € -1,008,183 | ▼ € 200,679 |
| Total debts | € 3,040,168 | € 3,085,175 | € 3,042,920 | € 3,051,551 | |
| Cash | € 55,253 | € 36,353 | € 56,909 | € 20,119 | ▼ 65% |
| Land & buildings | € 1,529,971 | € 1,501,500 | € 1,442,619 | € 1,383,737 | ▼ 4% |
| Retained profit | € -748,654 | € -859,767 | € -907,504 | € -1,108,183 | ▼ € 200,679 |
| Bank debt | € 1,557,091 | € 1,429,585 | € 1,321,937 | € 1,209,121 | ▼ 9% |
| Balance sheet total | € 2,391,514 | € 2,325,408 | € 2,235,416 | € 2,043,367 | ▼ 9% |
| Employees (FTE) | 7.3 | 7.2 | 6.7 | 6.7 |
Key figures of SPA RACING, 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 SPA RACING?
What happened at SPA RACING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Pierre SIBILLE stepped down as director. NBB
- Pierre DUPONT stepped down as director. NBB
- Roger GEHLEN stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 200,679. Source: NBB ↗
- Pierre SIBILLE became a director. NBB
- Pierre DUPONT became a director. NBB
- Roger GEHLEN became a director. NBB
- New establishment in Stavelot. KBO
In short
From € 216,645 loss in 2022 to € 200,679 loss in 2025.
Paid € 1,186 in corporate taxes since 2022.
On average € 41,300 of value added per employee in 2025.
Management
It owns 100% of DUMOULIN SPORT ASSIST itself.
Directors
According to the 2025 annual accounts
Pierre SIBILLE
Administrateur
since 2023 · until 2029
Pierre DUPONT
Managing director
since 2023 · until 2029
Roger GEHLEN
Managing director
Also active at: GEHLEN IMMO, COVEBAT, G-Bois, Société Internationale de Travaux Publics, ROGER GEHLEN, SERBI, ARDENNE RAILS, GEFOR +23 more
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Rue Saint Laurent 1
4970 Stavelot
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Website
Technologies
Hosting & Email
Email provider
OVH Mail
Hosting
OVH, FR
Domain
Domain
sparacing.com
Registered
2013-05-04
Registrar
OVH, SAS
Expires
2026-05-04
Website info
Features
Security
Details
- Company number
- 0677.856.982
- VAT number
- BE 0677.856.982
- Registered office
- Rue Saint Laurent 1, 4970 Stavelot
- Names & denominations
- SPA RACING
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 4 July 2017
- Peppol
- Active · Active since 17 Dec 2025
- Contact
- sparacing.com
- Activities · NACE
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Diverse administratieve activiteiten ten behoeve van kantoren
Opslag
Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (<= 3,5 ton)
Diensten in verband met vervoer te land
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (= 3,5 ton)
+1