Though the terms are similar, the two cookie varieties are actually different from each other. Speculaas cookies originated in the Netherlands and are full of flavorful spices, much like gingerbread. Speculaas spice commonly includes cinnamon, nutmeg, cardamom, white pepper, cloves, ginger, allspice and cloves. Speculoos cookies, on the other hand, are from Belgium. They use far less spice than the Dutch version as spices were much more expensive to import to Belgium. These cookies frequently contain only cinnamon, and sometimes nutmeg. The main flavor is a rich caramel taste, which comes from the unique flavor of Belgian brown sugar. Belgian brown sugar is made from beet sugar that has been caramelized and has a rich, dark flavor profile. This contrasts to most brown sugar in the US, which is made from beet or cane sugar that has had molasses added to it. Biscoff is the most popular brand of speculoos cookies, made by the Lotus Biscoff brand. They have been making their unique version of speculoos cookies in Lembeke, Belgium since 1932.