ACTIVE

SPAACO

Financial year 2025 · Closed on 31/12/2025

Net result104,6 k €+50,6 %over 1 year

Gross margin286,1 k €+30,7 %over 1 year

Equity1 M €+11,4 %over 1 year

Identity

Source · BCE/KBO

SPAACO is a Public limited company incorporated in 2012. Its main activity is: Production of electricity. Its registered office is in Stabroek.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0844.884.549
Incorporation: 23/03/2012
Legal form: Public limited company
Registered office: Laageind 91
2940 Stabroek · FlandreSee on map
Contributed capital: 400 000,00 €
Latest accounts: 31/12/2025

Activities (NACE)

35110Production of electricity· main 35110Production of electricity 35140Trade of electricity 35150Electric power generation, transmission and distribution

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 13 filings

Trend over 13 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	286,1 k €	+30.7%	219 k €	-45.9%	404,6 k €	-28.3%	564,4 k €	+108%	271,8 k €
EBITDA	285,1 k €	+30.8%	217,9 k €	-46.0%	403,5 k €	-28.4%	563,5 k €	+108%	270,8 k €
Operating result	141,8 k €	+70.0%	83,4 k €	-69.7%	275,5 k €	-36.7%	435,5 k €	+205%	142,8 k €
Net result	104,6 k €	+50.6%	69,5 k €	-66.8%	209 k €	-33.9%	316,4 k €	+245%	91,8 k €
Balance sheet
Equity	1 M €	+11.4%	921,1 k €	-16.4%	1,1 M €	-26.2%	1,5 M €	+26.9%	1,2 M €
Total assets	1,1 M €	-21.1%	1,4 M €	-23.7%	1,8 M €	+4.4%	1,7 M €	+11.6%	1,5 M €
Cash	41 k €	-88.7%	362,3 k €	+37.8%	263 k €	-38.8%	429,7 k €	+150%	171,9 k €
Debts	49,2 k €	-88.8%	440,6 k €	-35.4%	681,9 k €	+215%	216,1 k €	-39.1%	354,9 k €

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 7 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Nova LaGa0563.544.462Represented by Laurence Gacoin	Director28/10/2025 → 14/06/2030
Gregorius Aertssen	Director23/03/2012 → 14/06/2030
Walter Wesenbeek	Director23/03/2012 → 14/06/2030
BERT WEEMAES0537.167.687Represented by Bert Weemaes	Director18/09/2023 → 09/06/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Filip Cordeel	Director08/06/2018 → 2024 accounts
Erik De Bruyn	Director30/06/2022 → 2022 accounts
Paul Ivens	Director08/06/2018 → 30/06/2022

Other companies at this address

Laageind 91 2940 Stabroek

Company	CBE no.
AERTSSEN GROUP● Active	0423.833.976
AERTSSEN INDUSTRIAL SERVICES● Active	0767.544.568
Aertssen Infra● Active	0403.813.275
AERTSSEN LIFTING● Active	0441.175.794
AERTSSEN LOGISTICS● Active	0664.571.843
AERTSSEN SERVICES● Active	0404.322.724
AERTSSEN TRANSPORT● Active	0416.893.726
AVM● Active	1044.816.001
BERAECO● Active	0736.989.964
Beringen Logistics & Terminal● Active	1010.017.844
EYSSELS● Active	0713.700.561
GROEP AERTSSEN● Active	0807.271.612
IMASFIN● Active	0879.156.233
Immo Cordeel-Aertssen● Active	0475.228.437
KLAVERENBOER● Active	0635.825.991
NEWMO● Active	0404.037.563
NEWMO HAREN● Active	0400.379.079
NIEUW TEMSE● Active	0863.448.567
ROLLIT CARGO● Active	0848.690.513
Shipit Terminal● Active	0860.312.497

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	23/06/2026	17/06/2025	19/06/2024	20/06/2023	16/06/2022	16/06/2021
General meeting	12/06/2026	13/06/2025	14/06/2024	09/06/2023	10/06/2022	11/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 13 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	12/06/2026	23/06/2026	Dutch	PDF
Abridged model	31/12/2024	13/06/2025	17/06/2025	Dutch	PDF
Abridged model	31/12/2023	14/06/2024	19/06/2024	Dutch	PDF
Abridged model	31/12/2022	09/06/2023	20/06/2023	Dutch	PDF
Abridged model	31/12/2021	10/06/2022	16/06/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	16/06/2021	Dutch	PDF
Abridged model	31/12/2019	12/06/2020	29/06/2020	Dutch	PDF
Abridged model	31/12/2018	14/06/2019	02/07/2019	Dutch	PDF
Abridged model	31/12/2017	08/06/2018	26/06/2018	Dutch	PDF
Abridged model	31/12/2016	09/06/2017	26/06/2017	Dutch	PDF
Full model	31/12/2015	10/06/2016	28/06/2016	Dutch	PDF
Full model	31/12/2014	12/06/2015	22/06/2015	Dutch	PDF
Full model	31/12/2013	13/06/2014	27/06/2014	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 7 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Nova LaGa0563.544.462Represented by Laurence Gacoin	Director28/10/2025 → 14/06/2030
Gregorius Aertssen	Director23/03/2012 → 14/06/2030
Walter Wesenbeek	Director23/03/2012 → 14/06/2030
BERT WEEMAES0537.167.687Represented by Bert Weemaes	Director18/09/2023 → 09/06/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Filip Cordeel	Director08/06/2018 → 2024 accounts
Erik De Bruyn	Director30/06/2022 → 2022 accounts
Paul Ivens	Director08/06/2018 → 30/06/2022

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates17/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/03/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/12/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/08/2015
HERBENOEMING VAN DE COMMISSARIS
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings13 filings

Mandates

Nova LaGa

Walter Wesenbeek

Gregorius Aertssen

BERT WEEMAES

Filip Cordeel

Erik De Bruyn

Paul Ivens

Emmanuel Cukrowicz

Dirk Vercruyssen

Greg Aertssen

G. Aertssen

2012201320142015201620172018201920202021202220232024202520262027202820292030

SPAACO

Laageind 91, 2940 Stabroek

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Laageind 91, 2940 StabroekCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00200796

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
SPAACOCurrent	accounts 2013 → 2025	Accounts 2025 · 2026-00200796

Events

2025
Annual accounts 2025104,6 k €↑
2024
Annual accounts 202469,5 k €↓
2023
Annual accounts 2023209 k €↓
2022
Annual accounts 2022316,4 k €↑
2021
Annual accounts 202191,8 k €↓
2020
Annual accounts 202097,6 k €↑
2019
Annual accounts 201983 k €↓
2018
Annual accounts 2018114 k €↑
2017
Annual accounts 201766,1 k €↑
2016
Annual accounts 201654,8 k €↓
2015
Annual accounts 201584,4 k €↓
2014
Annual accounts 201495,3 k €↑
2013
Annual accounts 201389,2 k €
23/03/2012
IncorporationPublic limited company

SPAACO

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events