S 
Societe de Services de Participations, de Direction et d'Elaboration SPA.BR · EUR
Consumer Staples · Euronext Brussels · 🇧🇪 Belgium
348.00
+2.35%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€399.5m
FY2016FY2025
Net income
€51.2m
FY2016FY2025
Free cash flow
€41.8m
FY2016FY2025
Shareholders' equity
€348.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €399.5m | €379.3m | €345.9m | €320.8m | €282.2m | €266.6m | €298.4m | €314.4m | €289.0m | €250.4m |
| Research and development | — | — | €1.4m | €1.4m | €1.7m | €1.9m | €1.8m | €1.9m | €1.6m | €3.1m |
| Operating income | €44.8m | €48.8m | €34.2m | €20.7m | €36.6m | €35.8m | €35.7m | €53.6m | €33.0m | €25.1m |
| Net income | €51.2m | €41.0m | €28.2m | €12.8m | €26.6m | €27.3m | €27.0m | €38.0m | €26.4m | €17.2m |
| Diluted earnings per share | 12.33 | 9.89 | 6.80 | 3.08 | 6.42 | 6.59 | 6.50 | 9.16 | 6.36 | 4.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €509.1m | €470.9m | €425.9m | €396.0m | €398.6m | €392.4m | €388.5m | €387.3m | €393.1m | €288.5m |
| Cash and short-term investments | €173.1m | €149.9m | €114.1m | €82.9m | €87.9m | €84.2m | €80.0m | €82.1m | €80.8m | €116.1m |
| Total liabilities | €160.7m | €160.4m | €146.7m | €138.1m | €147.1m | €162.5m | €177.0m | €193.2m | €230.1m | €145.2m |
| Debt | €21.0m | €5.2m | €3.9m | €5.6m | €16.9m | €30.9m | €44.0m | €52.5m | €66.5m | — |
| Shareholders' equity | €348.3m | €310.4m | €279.1m | €257.8m | €251.5m | €229.9m | €211.5m | €194.2m | €163.0m | €143.3m |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €73.3m | €68.5m | €61.8m | €36.2m | €46.4m | €48.9m | €39.0m | €42.4m | €44.2m | €30.5m |
| Capital spending | −€31.5m | −€23.5m | −€21.6m | −€16.2m | −€17.9m | −€20.3m | −€20.7m | −€19.7m | −€21.1m | −€9.6m |
| Free cash flow | €41.8m | €45.0m | €40.2m | €20.1m | €28.5m | €28.6m | €18.3m | €22.7m | €23.1m | €20.9m |
| Dividends paid | −€13.3m | −€9.1m | −€6.2m | −€8.3m | −€8.3m | −€8.3m | −€8.3m | −€7.5m | −€6.6m | −€6.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €219.9m | €188.2m | €211.3m | €188.7m | €190.7m | €168.4m | €84.2m | €177.6m |
| Operating income | €36.6m | €22.3m | €33.9m | €17.4m | €26.6m | €5.2m | €5.2m | €18.4m |
| Net income | €32.6m | €24.4m | €26.8m | €16.8m | €24.2m | €10.3m | €5.1m | €18.0m |
| Diluted earnings per share | 7.85 | 5.88 | 6.45 | 4.06 | 5.83 | 2.47 | 1.24 | 4.33 |
| Cash from operations | — | €58.0m | €14.0m | €55.0m | €14.0m | €59.0m | €29.0m | €2.0m |
| Capital spending | — | −€22.0m | −€9.0m | −€18.0m | −€3.0m | −€12.0m | −€6.0m | −€8.0m |
| Free cash flow | — | €36.0m | €5.0m | €37.0m | €11.0m | €47.0m | €23.0m | −€6.0m |
| Total assets | — | €509.1m | €501.4m | €470.9m | €458.6m | €425.9m | €425.9m | €425.0m |
| Cash and short-term investments | — | €173.1m | €140.5m | €149.9m | €115.1m | €114.1m | €114.1m | −€5.6m |
| Debt | — | €21.0m | €26.0m | €20.3m | €24.9m | €18.6m | — | €29.4m |
| Shareholders' equity | — | €348.3m | €323.9m | €310.4m | €294.1m | €279.1m | €279.1m | €269.5m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 11.2% | 13.7% | 10.1% | 5.8% | 12.9% | 13.3% | — | — |
| Net margin | 12.8% | 10.8% | 8.2% | 4.0% | 9.4% | 10.3% | — | — |
| Return on equity | 14.7% | 13.2% | 10.1% | 5.0% | 10.6% | 11.9% | — | — |
| Return on assets | 10.1% | 8.7% | 6.6% | 3.2% | 6.7% | 7.0% | — | — |
| Free cash flow yield | 7.3% | 6.4% | 5.8% | 3.6% | 4.5% | 4.8% | — | — |
| Revenue growth | 5.3% | 9.7% | 7.9% | 13.7% | 5.8% | -10.7% | — | — |
| Earnings growth | 24.8% | 45.3% | 120.8% | -52.0% | -2.5% | 1.3% | — | — |
| Current ratio | 2.00x | 1.82x | 1.67x | 1.50x | 1.44x | 1.36x | — | — |
| Debt to equity | 0.06x | 0.07x | 0.07x | 0.08x | 0.05x | 0.11x | — | — |
| Equity ratio | 68.4% | 65.9% | 65.5% | 65.1% | 63.1% | 58.6% | — | — |
| Interest coverage | 71.91x | 129.23x | 128.61x | 26.22x | 129.05x | 87.54x | — | — |
| R&D as a share of sales | — | — | 0.4% | 0.4% | 0.6% | 0.7% | 0.6% | 0.6% |
| Buybacks as a share of market value | -0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.6% | 8.4% | 5.1% |
| Operating income | 29.3% | 4.6% | 3.9% |
| Net income | 58.8% | 13.4% | 9.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 12.0% | 10.3% | 11.1% | 11.8% |
| Net margin | 11.8% | 9.2% | 9.4% | 9.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.5 | 17.7 | 23.1 | 51.9 | 28.7 | 29.1 | 30.5 | 23.6 | 28.3 | 26.8 |
| Price to sales | 2.4 | 1.9 | 1.9 | 2.1 | 2.7 | 3.0 | 2.8 | 2.9 | 2.6 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 3 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.00 | 3.20 | 2.20 | 1.50 | 2.00 | 2.00 | 2.00 | 2.00 |
- 50-for-1 split · 17 Apr 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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