ACTIVE

Spotify Belgium

Export PDF

Financial year 2024 · closed on 31/12/2024

Net result

276,8 k €

+7.2% YoY

Revenue

1,9 M €

-28.8% YoY

Equity

1,2 M €

+29.1% YoY

Workforce

13,6 ETP

+6.2% YoY

What does Spotify Belgium do?

Spotify Belgium is a Public limited company incorporated in 2011. Its registered office is in Bruxelles. It employs on average 13,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0841.023.949

Incorporation

15/11/2011

Legal form

Public limited company

Registered office

Avenue des Arts 44
1040 Bruxelles · BruxellesSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2024

Average workforce

13,6 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 12 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012
Income statement
Revenue	1,9 M €	-28.8%	2,6 M €	+89.5%	1,4 M €		–		–		–		792,9 k €	-65.7%	2,3 M €	-79.6%	11,4 M €	+22.5%	9,3 M €	+25.4%	7,4 M €	+185%	2,6 M €
EBITDA	71,7 k €	-79.9%	355,8 k €	+39.4%	255,2 k €	+88.7%	135,3 k €	+28.8%	105 k €	+7.7%	97,5 k €	+10.8%	87,9 k €	+85.0%	47,5 k €	-43.5%	84,2 k €	-16.6%	101 k €	-50.0%	201,9 k €	+1045%	17,6 k €
Operating result	71,7 k €	-79.9%	355,8 k €	+39.4%	255,2 k €	+88.7%	135,3 k €	+28.8%	105 k €	+7.7%	97,5 k €	+10.8%	87,9 k €	+8.1%	81,3 k €	+15.8%	70,2 k €	-15.3%	82,9 k €	-56.0%	188,5 k €	+1399%	12,6 k €
Net result	276,8 k €	+7.2%	258,3 k €	+40.9%	183,3 k €	+93.7%	94,6 k €	+97.5%	47,9 k €	-23.4%	62,5 k €	+13.8%	54,9 k €	+51.1%	36,4 k €	+699%	4,6 k €	-73.2%	17 k €	-83.2%	100,9 k €	+4230%	2,3 k €
Balance sheet
Equity	1,2 M €	+29.1%	952,8 k €	+37.2%	694,4 k €	+35.9%	511,1 k €	+22.7%	416,5 k €	+13.0%	368,7 k €	+20.4%	306,1 k €	+21.9%	251,2 k €	+34.9%	186,2 k €	+2.5%	181,6 k €	+10.3%	164,7 k €	+158%	63,8 k €
Total assets	2,4 M €	-2.7%	2,5 M €	+73.5%	1,4 M €	+49.9%	950 k €	+9.5%	867,9 k €	-1.3%	879,6 k €	-4.2%	917,9 k €	-33.9%	1,4 M €	-91.5%	16,4 M €	+26.8%	12,9 M €	+186%	4,5 M €	+190%	1,6 M €
Cash	–		–		–		–		–		–		–		–		1,1 M €	-64.6%	3 M €	+63.0%	1,8 M €	+365%	392,9 k €
Debts	1,1 M €	-16.6%	1,4 M €	+89.9%	713,9 k €	+88.1%	379,5 k €	-1.8%	386,4 k €	-13.8%	448,2 k €	-3.6%	464,7 k €	-54.5%	1 M €	-93.4%	15,6 M €	+27.6%	12,2 M €	+204%	4 M €	+206%	1,3 M €
Other
Workforce	13,6 ETP	+6.2%	12,8 ETP	+16.4%	11,0 ETP	+120%	5,0 ETP	+117%	2,3 ETP	-20.7%	2,9 ETP	+7.4%	2,7 ETP	+35.0%	2,0 ETP	-33.3%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	+25.0%	2,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 3 active · 13 ended

Active mandates

Deysel Sallie

Director · since 31 mars 2024 · until 29 juin 2029

Active

Vogel Paul

Director · since 05 décembre 2019 · until 31 mars 2024

Active

Grandelius Peter

Director · since 04 avril 2019 · until 30 juin 2025

Active

Ended mandates

Paul Vogel

Director · since 05 décembre 2019 · until 30 juin 2025

Ended

Barry McCarthy

Director · since 30 juin 2017 · until 30 juin 2023

Ended

Jens Christian Grejs Svolgaard

Director · since 21 septembre 2016 · until 30 juin 2022

Ended

Bary McCarthy

Director · since 15 juillet 2016 · until 30 juin 2017

Ended

At this address

Other companies at this address

Company	CBE no.
2ememain Belgium● Active	0683.698.164
adfinitas● Active	0801.363.916
Broadwood Consulting● Active	1006.772.601
ELLIPSE PROJECTS Belgium● Active	0665.728.024
EU LIAISON OFFICE● Active	0889.852.462
European Alliance for Plant-based Foods● Active	0751.649.040
Global Cyber Alliance Belgium● Active	0667.753.641
GS Energy Consulting● Active	1013.200.137
METHANOL INSTITUTE● Active	0780.898.302
MILLTOWN PARTNERS BELGIUM● Active	1012.335.550
TikTok Technologies Belgium● Active	0789.483.691

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/07/2025	09/07/2024	19/06/2023	30/06/2022	09/07/2021	19/08/2020
General meeting	30/06/2025	28/06/2024	16/06/2023	30/06/2022	30/06/2021	29/07/2020
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	30/06/2025	02/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	09/07/2024	Dutch	PDF
Full model	31/12/2022	16/06/2023	19/06/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	30/06/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	09/07/2021	Dutch	PDF
Full model	31/12/2019	29/07/2020	19/08/2020	Dutch	PDF
Full model	31/12/2018	02/05/2019	22/05/2019	Dutch	PDF
Full model	31/12/2017	17/08/2018	28/09/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	12/07/2017	Dutch	PDF
Full model	31/12/2015	19/09/2016	21/10/2016	Dutch	PDF
Full model	31/12/2014	31/07/2015	28/08/2015	French	PDF
Full model	31/12/2013	30/09/2014	25/11/2014	French	PDF
Full model	31/12/2012	28/06/2013	05/07/2013	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 31/12/2024 · 3 active · 13 ended

Active mandates

Deysel Sallie

Director · since 31 mars 2024 · until 29 juin 2029

Active

Vogel Paul

Director · since 05 décembre 2019 · until 31 mars 2024

Active

Grandelius Peter

Director · since 04 avril 2019 · until 30 juin 2025

Active

Ended mandates

Paul Vogel

Director · since 05 décembre 2019 · until 30 juin 2025

Ended

Barry McCarthy

Director · since 30 juin 2017 · until 30 juin 2023

Ended

Jens Christian Grejs Svolgaard

Director · since 21 septembre 2016 · until 30 juin 2022

Ended

Bary McCarthy

Director · since 15 juillet 2016 · until 30 juin 2017

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office31/08/2026
Verplaatsing zetel E
PDF
Mandates07/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other03/02/2025
DIVERSEN
PDF
Mandates12/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/04/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other27/09/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates30/08/2021
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

2024
Annual accounts 2024276,8 k €↑
2023
Annual accounts 2023258,3 k €↑
2022
Annual accounts 2022183,3 k €↑
2021
Annual accounts 202194,6 k €↑
2020
Annual accounts 202047,9 k €↓
2019
Annual accounts 201962,5 k €↑
2018
Annual accounts 201854,9 k €↑
2017
Annual accounts 201736,4 k €↑
2015
Annual accounts 20154,6 k €↓
2014
Annual accounts 201417 k €↓
2013
Annual accounts 2013100,9 k €↑
2012
Annual accounts 20122,3 k €
15/11/2011
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

Spotify Belgium

Overview

What does Spotify Belgium do?

Trend over 12 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