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 25 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
13 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
SPECTER from Gent, company number BE0759379049, closed financial year 2025 with a result of € -601,851 after tax. For that financial year SPECTER recorded a gross margin of € 238,051 and equity of € -149,606. Compared with financial year 2024, the result moved from € -747,105 to € -601,851. 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 30, 2026.
€ -149,606
▼ € 601,851 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -601,851
▲ 19 % less loss than in 2024
Profit after tax over the fiscal year.
€ 4,813
▼ 86% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -584,320.
People and assets in 2025
4.4
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 383,292
▲ 54% vs 2024
€ 87,100 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.
€ 7,889
▼ 35% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.7 million
▲ 102% vs 2024
€ 286,308 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 572,922
▼ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 65,399
▼ 16% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 135,380 | € -301,715 | € -152,213 | € 238,051 | ▲ € 390,264 |
| Profit after taxes | € 17,532 | € -811,154 | € -747,105 | € -601,851 | ▲ € 145,254 |
| Equity | € 369,532 | € -190,914 | € 452,245 | € -149,606 | ▼ € 601,851 |
| Total debts | € 344,698 | € 1,630,787 | € 1,533,686 | € 2,357,936 | ▲ 54% |
| Cash | € 74,961 | € 23,024 | € 35,456 | € 4,813 | ▼ 86% |
| Retained profit | € 17,532 | € -793,622 | € -1,540,727 | € -584,320 | ▲ € 956,407 |
| Bank debt | € 250,000 | € 1,059,739 | € 838,650 | € 1,691,546 | ▲ 102% |
| Balance sheet total | € 714,230 | € 1,439,873 | € 1,985,931 | € 2,208,330 | ▲ 11% |
| Employees (FTE) | - | - | 4.3 | 4.4 | ▲ 0.1 |
Key figures of SPECTER, 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 SPECTER?
What happened at SPECTER in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 601,851. Source: NBB ↗
- MGO Invest BV became a director. NBB
- Maarten Baert became a director. NBB
- FundRacer Mobility Fund I Coöperatief U.A. became a director. NBB
- Rodecom BV became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 17,532 profit in 2022 to € 601,851 loss in 2025.
Paid € 169 in corporate taxes since 2022.
Best year ever: 2022, with € 17,532 profit.
On average € 54,100 of value added per employee in 2025.
A new publication or filing at SPECTER? We notify you, reason included.
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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
The stake of MGO Invest, CMI comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SPECTERBehind SPECTER are MGO Invest BV, Maarten Baert, FundRacer Mobility Fund I Coöperatief U.A. and Rodecom BV. The shares are held by MGO Invest (20.4%) and CMI (10.3%).
Directors
According to the 2025 annual accounts
Director · represented by Nicolas Linkens
Also active at: STAMPIX, POMKI, Skindr, BEL II Invest, Bel Solar Invest, RC Belco VII Invest, Rivean RSO II BE
since 2024
Maarten Baert
Managing director
since 2024
FundRacer Mobility Fund I Coöperatief U.A.
Director · represented by Renatus Wiertz
since 2024
Director · represented by Robbert Desmet
Also active at: HIGHWAY REAL ESTATE, Unicus, CMI, Woodstoxx Invest, Hostellerie Kemmelberg, Immo Kemmelberg, WOODSTOXX
since 2024
Shareholders
20.4%
10.3%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Industrieweg 18 box D003
9032 Gent
Industrieweg 18 box D0003
9032 Gent
Active since 26 September 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 13 companies are registered at this address.
All companies at this address →GANDACARS
€ 2.7 million gross margin · 2025
I.C.P.
€ 41,130 gross margin · 2025
SPRINGPRESS
€ 851,252 gross margin · 2025
Werken-Vlaanderen
€ 7 million gross margin · 2025
TRANSPORT VLAANDEREN
€ 1.9 million gross margin · 2025
+8 more
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
Microsoft 365
Hosting
AMAZON-02 - Amazon.com, Inc., US
Website info
Features
Security
Details
- Company number
- 0759.379.049
- VAT number
- BE 0759.379.049
- Registered office
- Industrieweg 18 bus D003, 9032 Gent
- Names & denominations
- SPECTER
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 3 December 2020
- Peppol
- Active · Active since 14 Jan 2025
- Contact
- specter.bike [email protected]
- Activities · NACE
Vervaardiging van fietsen en invalidenwagens