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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 15 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2024.
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Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
SPY INVEST from Waterloo, company number BE0818182825, closed financial year 2025 with a result of € 112,007 after tax. For that financial year SPY INVEST recorded revenue of € 455,497 and equity of € -48,262. Compared with financial year 2024, the result moved from € -156,147 to € 112,007. Profitable, and profit is growing. 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 8, 2026.
€ -48,262
▲ € 112,007 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 112,007
▲ still € 156,147 loss in 2024
Profit after tax over the fiscal year.
€ 217,501
▲ 18% 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 € -66,862.
Debts at end 2025
€ 1.5 million
▼ 21% vs 2024
Loans from banks and other lenders, long and short.
€ 13,428
▼ 86% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 38 days on average.
€ 50,651
▲ € 41,875 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 | |
|---|---|---|---|---|---|
| Revenue | € 364,740 | € 352,777 | € 345,263 | € 455,497 | ▲ 32% |
| Profit after taxes | € 85,489 | € 87,852 | € -156,147 | € 112,007 | ▲ € 268,155 |
| Equity | € -91,974 | € -4,122 | € -160,270 | € -48,262 | ▲ € 112,007 |
| Total debts | € 3,494,255 | € 3,320,202 | € 4,000,275 | € 3,639,178 | ▼ 9% |
| Cash | € 180,688 | € 191,960 | € 184,048 | € 217,501 | ▲ 18% |
| Land & buildings | € 3,202,665 | € 2,965,799 | € 3,573,637 | € 3,351,356 | ▼ 6% |
| Retained profit | € -110,574 | € -22,722 | € -178,870 | € -66,862 | ▲ € 112,007 |
| Bank debt | € 2,711,000 | € 2,311,000 | € 1,911,000 | € 1,511,000 | ▼ 21% |
| Balance sheet total | € 3,402,281 | € 3,316,080 | € 3,840,006 | € 3,590,916 | ▼ 6% |
Key figures of SPY INVEST, 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 SPY INVEST?
What happened at SPY INVEST in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 112,007. Source: NBB ↗
- Buzz Management SRL became a director. NBB
- Natacha Mestdagh became a director. NBB
- New establishment in Charleroi. KBO
- Start of the company according to the CBE. KBO
In short
From € 85,489 profit in 2022 to € 112,007 profit in 2025.
Paid € 69,673 in corporate taxes since 2022.
Best year ever: 2025, with € 112,007 profit.
Pays suppliers within 38 days on average.
A new publication or filing at SPY INVEST? 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 NEW MECCO, JEC INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SPY INVESTBehind SPY INVEST are Buzz Management SRL and Natacha Mestdagh. The shares are held by NEW MECCO (99.5%) and JEC INVEST (0.5%).
Directors
According to the 2025 annual accounts
Director · represented by Eric Mestdagh
Also active at: MECCO-GOSSENT, GERNEL, MESTDAGH, FIDAGH, France DISTRIBUTION, EMHC, HANGAR, MYGROCERY +2 more
since 2025
since 2025
Shareholders
99.5%
0.5%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Drève Richelle 161 Bât.D box 19
1410 Waterloo
Avenue Jean Mermoz 1 box 4
6041 Charleroi
Active since 1 September 2009
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →MECCO-GOSSENT same network
€ 5.3 million revenue · 2025
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€ 164,090 revenue · 2025
SUPALI
€ 8,600 revenue · 2025
CSE H2
BELMONT PROPERTIES
+17 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0818.182.825
- VAT number
- BE 0818.182.825
- Registered office
- Drève Richelle 161 Bât.D bus 19, 1410 Waterloo
- Names & denominations
- SPY INVEST
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 September 2009
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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