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.
-
Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SPAD from Ukkel, company number BE0698728414, closed financial year 2025 with a result of € 3,695 after tax. For that financial year SPAD recorded a gross margin of € 3,745 and equity of € -44,600. Compared with financial year 2024, the result moved from € 4,201 to € 3,695. The company is profitable. 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 14, 2026.
€ -44,600
▲ € 3,695 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3,695
▼ 12% vs 2024
Profit after tax over the fiscal year.
€ 277
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -64,600.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2,420
▼ 36% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 790
▼ 15% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 5,035 | € 4,338 | € 4,251 | € 3,745 | ▼ 12% |
| Profit after taxes | € 3,791 | € 4,243 | € 4,201 | € 3,695 | ▼ 12% |
| Equity | € -56,739 | € -52,496 | € -48,295 | € -44,600 | ▲ € 3,695 |
| Total debts | € 64,616 | € 58,308 | € 54,829 | € 44,877 | ▼ 18% |
| Cash | € 58 | € 4 | - | € 277 | |
| Retained profit | € -76,739 | € -72,496 | € -68,295 | € -64,600 | ▲ € 3,695 |
| Bank debt | € 0 | € 0 | € 4 | € 0 | ▼ 100% |
| Balance sheet total | € 7,877 | € 5,812 | € 6,534 | € 277 | ▼ 96% |
Key figures of SPAD, 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 SPAD?
What happened at SPAD in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 3,695 (▼ 12% vs 2024). Source: NBB ↗
- New establishment in Ukkel. KBO
- Thierry PAUWELS became a director. NBB
- Nicolas PELTIER became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 3,791 profit in 2022 to € 3,695 profit in 2025.
Best year ever: 2023, with € 4,243 profit.
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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
Behind SPAD are Thierry PAUWELS and Nicolas PELTIER. Thierry PAUWELS is also behind SYMBIOTRAIL.
Directors
According to the 2025 annual accounts
since 2018
Nicolas PELTIER
Administrator-manager
since 2018
Establishments
Establishment units
Physical locations of this company
Montjoielaan 116
1180 Ukkel
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
- 0698.728.414
- VAT number
- BE 0698.728.414
- Registered office
- Montjoielaan 116, 1180 Ukkel
- Names & denominations
- SPAD
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 22 June 2018
- Peppol
- Active · Active since 8 Sept 2026
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