ACTIVE

FINSPICO

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Financial year 2025 · closed on 31/12/2025

Net result

266,2 k €

-85.9% YoY

Gross margin

365,8 k €

-59.1% YoY

Equity

2,9 M €

-67.8% YoY

Workforce

5,3 ETP

+43.2% YoY

What does FINSPICO do?

FINSPICO is a Public limited company incorporated in 1965. Its registered office is in Antwerpen. It employs on average 5,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.640.250

Incorporation

30/07/1965

Legal form

Public limited company

Registered office

Quinten Matsijslei 36
2018 Antwerpen · FlandreSee on map

Contributed capital

671 107,76 €

Latest accounts

31/12/2025

Average workforce

5,3 ETP

Joint committees (3)

Signals

ProfitableLow riskGood liquidityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2018		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	365,8 k €	-59.1%	894,3 k €		–		–		–		2,7 M €	+241%	790,1 k €	-37.4%	1,3 M €	+81.9%	694,2 k €	-10.0%	771,6 k €	+3.3%	747 k €	+661%	98,1 k €	-89.6%	946,7 k €	+65.6%	571,5 k €	-24.5%	756,7 k €
EBITDA	-63,2 k €	-111%	598,8 k €	+778%	68,2 k €	+140%	-170,4 k €	-115%	1,1 M €	-54.1%	2,5 M €	+200%	815,8 k €	+424%	155,8 k €	-72.9%	574,6 k €	-0.9%	579,6 k €	-0.9%	585,1 k €	+160%	-980,4 k €	-237%	713,3 k €	+165%	268,9 k €	-51.0%	548,8 k €
Operating result	787,2 k €	+37.9%	570,8 k €	+1350%	39,4 k €	+104%	-1,1 M €	-197%	1,2 M €	-52.1%	2,4 M €	+229%	734,4 k €	+577%	108,5 k €	-78.8%	511,2 k €	+1.7%	502,5 k €	-3.2%	518,9 k €	+150%	-1 M €	-268%	616,5 k €	+274%	164,7 k €	-62.2%	436,1 k €
Net result	266,2 k €	-85.9%	1,9 M €	+80.1%	1 M €	+471%	-282,6 k €	-113%	2,2 M €	+36.3%	1,7 M €	+144%	677,2 k €	+1001%	61,5 k €	-77.4%	271,7 k €	+33.9%	202,9 k €	-0.5%	203,9 k €	-68.8%	653,9 k €	-66.3%	1,9 M €	+530%	307,7 k €	-42.0%	530,2 k €
Balance sheet
Equity	2,9 M €	-67.8%	9 M €	+26.4%	7,1 M €	-35.4%	11,1 M €	-2.5%	11,3 M €	-8.2%	12,3 M €	+40.7%	8,8 M €	+8.4%	8,1 M €	+0.8%	8 M €	+3.5%	7,8 M €	+2.7%	7,6 M €	+2.8%	7,4 M €	-29.6%	10,4 M €	+19.7%	8,7 M €	+1.1%	8,6 M €
Total assets	10,3 M €	-5.0%	10,8 M €	-15.1%	12,8 M €	-9.6%	14,1 M €	-36.0%	22 M €	+5.2%	21 M €	+2.4%	20,5 M €	-4.6%	21,5 M €	+8.1%	19,8 M €	-3.4%	20,5 M €	-6.8%	22 M €	+12.7%	19,5 M €	-4.3%	20,4 M €	+2.1%	20 M €	-6.2%	21,3 M €
Cash	531,2 k €	+768%	61,2 k €	-83.2%	364,7 k €	-81.5%	2 M €	-80.2%	10 M €	+190%	3,4 M €	+344%	774,9 k €	+17.0%	662 k €	+141%	274,9 k €	-57.4%	645,9 k €	-69.9%	2,1 M €	+14.8%	1,9 M €	+21.4%	1,5 M €	+114%	719 k €	-62.6%	1,9 M €
Debts	7,3 M €	+738%	875,5 k €	-81.4%	4,7 M €	+121%	2,1 M €	-80.1%	10,7 M €	+24.3%	8,6 M €	-17.7%	10,5 M €	-11.9%	11,9 M €	+6.3%	11,2 M €	-7.2%	12 M €	-11.9%	13,7 M €	+21.3%	11,3 M €	+13.8%	9,9 M €	-10.9%	11,1 M €	-11.3%	12,5 M €
Other
Workforce	5,3 ETP	+43.2%	3,7 ETP	-14.0%	4,3 ETP	+7.5%	4,0 ETP	+37.9%	2,9 ETP	-27.5%	4,0 ETP	+33.3%	3,0 ETP	0.0%	3,0 ETP	+7.1%	2,8 ETP	-9.7%	3,1 ETP	0.0%	3,1 ETP	0.0%	3,1 ETP	-20.5%	3,9 ETP	-4.9%	4,1 ETP	+36.7%	3,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 24 ended

Active mandates

David Gotlib

Director · since 24 juin 2020 · until 17 août 2026

Active

Marie-Immacolata Filardo

Director · since 24 juin 2020 · until 17 août 2026

Active

Talia Werner

Director · since 24 juin 2020 · until 17 août 2026

Active

Ended mandates

David Gotlib

Director · since 07 août 2020 · until 24 juin 2026

Ended

Marie-Immacolate Filardo

Director · since 07 août 2020 · until 24 juin 2026

Ended

Talia Werner

Director · since 07 août 2020 · until 24 juin 2026

Ended

David Gotlib

Director · since 24 juin 2020 · until 24 juin 2026

Ended

At this address

Other companies at this address

Company	CBE no.
FINSPICO m● Liquidation	0472.246.181

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	29/08/2025	30/08/2024	04/07/2023	30/09/2022	24/09/2021
General meeting	17/08/2026	22/08/2025	30/08/2024	24/06/2023	29/09/2022	30/08/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	17/08/2026	31/08/2026	Dutch	PDF
Abridged model	31/12/2024	22/08/2025	29/08/2025	Dutch	PDF
Full model	31/12/2023	30/08/2024	30/08/2024	Dutch	PDF
Full model	31/12/2022	24/06/2023	04/07/2023	Dutch	PDF
Full model	31/12/2021	29/09/2022	30/09/2022	Dutch	PDF
Full model	31/12/2020	30/08/2021	24/09/2021	Dutch	PDF
Abridged model	31/12/2019	07/08/2020	10/08/2020	Dutch	PDF
Abridged model	31/12/2018	23/08/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	25/06/2018	09/07/2018	Dutch	PDF
Abridged model	31/12/2016	24/06/2017	08/09/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	24/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	24/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	24/06/2013	27/08/2013	Dutch	PDF
Abridged model	31/12/2011	24/06/2012	22/08/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2009	24/06/2010	22/07/2010	Dutch	PDF
Abridged model	31/12/2008	24/06/2009	25/08/2009	Dutch	PDF
Abridged model	31/12/2007	24/06/2008	28/08/2008	Dutch	PDF
Abridged model	31/12/2006	24/06/2007	03/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 24 ended

Active mandates

David Gotlib

Director · since 24 juin 2020 · until 17 août 2026

Active

Marie-Immacolata Filardo

Director · since 24 juin 2020 · until 17 août 2026

Active

Talia Werner

Director · since 24 juin 2020 · until 17 août 2026

Active

Ended mandates

David Gotlib

Director · since 07 août 2020 · until 24 juin 2026

Ended

Marie-Immacolate Filardo

Director · since 07 août 2020 · until 24 juin 2026

Ended

Talia Werner

Director · since 07 août 2020 · until 24 juin 2026

Ended

David Gotlib

Director · since 24 juin 2020 · until 24 juin 2026

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring23/01/2023
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring23/01/2023
ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring30/11/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring30/11/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates20/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Other07/06/2016
DOEL
PDF
Mandates03/10/2014
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025266,2 k €↓
2024
Annual accounts 20241,9 M €↑
2023
Annual accounts 20231 M €↑
2022
Annual accounts 2022-282,6 k €↓
2021
Annual accounts 20212,2 M €↑
2018
Annual accounts 20181,7 M €↑
2016
Annual accounts 2016677,2 k €↑
2015
Annual accounts 201561,5 k €↓
2014
Annual accounts 2014271,7 k €↑
2013
Annual accounts 2013202,9 k €↓
2012
Annual accounts 2012203,9 k €↓
2011
Annual accounts 2011653,9 k €↓
2010
Annual accounts 20101,9 M €↑
2009
Annual accounts 2009307,7 k €↓
2008
Annual accounts 2008530,2 k €
30/07/1965
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

FINSPICO

Overview

What does FINSPICO do?

Trend over 15 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline