S. STABEL
ActiveSummary
S. STABEL has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234,004 and a net result of €53,768. Equity is growing by ~4.1% per year across the filed fiscal years. Its solvency ranks better than 86% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability92▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 8.23 against 18.83 in 2024; short-term debt: 10.2% and cash: 45.2% of total assets), and 18.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.1%
Return on assets
18.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-03-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
30 d early
2023
27 d early
2022
30 d early
2021
17 d early
2020
28 d early
2019
43 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 32 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 31 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€234,004▼ 6.5%
2024 · €250,236
Total assets
€288,593▲ 9.2%
2024 · €264,236
Net result
€53,768▲ 4.5%
2024 · €51,452
Working capital
€212,645▼ 14.8%
2024 · €249,660
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€31,695▼ 7.4%€22,148▼ 30.1%€48,444▲ 119%€69,197▲ 42.8%€94,265▲ 36.2%
Net result€19,774within the sector's middle half▼ 32.5%€14,937within the sector's middle half▼ 24.5%€32,900above the sector's middle half▲ 120%€51,452above the sector's middle half▲ 56.4%€53,768above the sector's middle half▲ 4.5%
Equity€183,946within the sector's middle half▲ 2.4%€165,883within the sector's middle half▼ 9.8%€198,783within the sector's middle half▲ 19.8%€250,236within the sector's middle half▲ 25.9%€234,004within the sector's middle half▼ 6.5%
Total assets€201,436within the sector's middle half▼ 3.2%€198,693within the sector's middle half▼ 1.4%€208,590within the sector's middle half▲ 5.0%€264,236within the sector's middle half▲ 26.7%€288,593within the sector's middle half▲ 9.2%
Debt€17,491▼ 38.5%€32,810▲ 87.6%€9,806▼ 70.1%€14,001▲ 42.8%€54,589▲ 290%
Working capital€173,247above the sector's middle half▲ 4.2%€154,929above the sector's middle half▼ 10.6%€197,662above the sector's middle half▲ 27.6%€249,660above the sector's middle half▲ 26.3%€212,645above the sector's middle half▼ 14.8%
Solvency91.3%above the sector's middle half▲ 5.0pp83.5%above the sector's middle half▼ 7.8pp95.3%above the sector's middle half▲ 11.8pp94.7%above the sector's middle half▼ 0.6pp81.1%above the sector's middle half▼ 13.6pp
Current ratio22.15above the sector's middle half▲ 8.555.72above the sector's middle half▼ 16.4321.16above the sector's middle half▲ 15.4318.83above the sector's middle half▼ 2.328.23above the sector's middle half▼ 10.60
Return on assets (ROA)9.8%above the sector's middle half▼ 4.3pp7.5%within the sector's middle half▼ 2.3pp15.8%above the sector's middle half▲ 8.3pp19.5%above the sector's middle half▲ 3.7pp18.6%above the sector's middle half▼ 0.8pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 36% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €288,593
Fixed assets
€46,542 ▲ 7,983%
Current assets
€242,051 ▼ 8.2%
Equity and liabilities €288,593
Equity
€234,004 ▼ 6.5%
Debt
€54,589 ▲ 290%
Debt's share of the balance-sheet total rises from 5.3% to 18.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€106,616▲
2024 · €70,511
Cash flow
€66,119▲
2024 · €52,766
Debt to equity
0.23▲
2024 · 0.06
ROE
23.0%▲
2024 · 20.6%
Interest coverage
60.44▼
2024 · 361.91
Debt ≤ 1 year
€29,406▲
2024 · €14,001
Debt > 1 year
€25,183
Income taxes
€47,702▲
2024 · €23,563
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,946 | €10,398 | €9,833 | €1,313 | €12,351 | ▲ 840% |
| Other operating charges640/8 | €2,267 | €2,100 | €1,428 | €1,267 | €1,069 | ▼ 15.6% |
| Gross operating margin9900 | €43,908 | €34,646 | €59,704 | €71,778 | €107,685 | ▲ 50.0% |
| Operating profit (loss)9901 | €31,695 | €22,148 | €48,444 | €69,197 | €94,265 | ▲ 36.2% |
| Financial income75/76B | €238 | €866 | €374 | €6,013 | €8,969 | ▲ 49.2% |
| Recurring financial income75 | €238 | €866 | €374 | €6,013 | €8,969 | ▲ 49.2% |
| Financial charges65/66B | €350 | €284 | €293 | €195 | €1,764 | ▲ 805% |
| Recurring financial charges65 | €350 | €284 | €293 | €195 | €1,764 | ▲ 805% |
| Profit (loss) for the period before taxes9903 | €31,583 | €22,731 | €48,525 | €75,015 | €101,470 | ▲ 35.3% |
| Income taxes67/77 | €11,809 | €7,793 | €15,625 | €23,563 | €47,702 | ▲ 102% |
| Profit (loss) for the period9904 | €19,774 | €14,937 | €32,900 | €51,452 | €53,768 | ▲ 4.5% |
| Profit (loss) for the period to be appropriated9905 | €19,774 | €14,937 | €32,900 | €51,452 | €53,768 | ▲ 4.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €201,436 | €198,693 | €208,590 | €264,236 | €288,593 | ▲ 9.2% |
| Fixed assets21/28 | €19,997 | €10,954 | €1,122 | €576 | €46,542 | ▲ 7,983% |
| Tangible fixed assets22/27 | €19,997 | €10,954 | €1,122 | €576 | €46,542 | ▲ 7,983% |
| Land and buildings22 | €2,010 | €1,340 | €670 | - | - | - |
| Plant, machinery and equipment23 | €1,527 | €1,384 | €452 | €576 | €2,479 | ▲ 330% |
| Furniture and vehicles24 | €16,461 | €8,230 | - | - | €44,063 | - |
| Current assets29/58 | €181,439 | €187,739 | €207,468 | €263,660 | €242,051 | ▼ 8.2% |
| Amounts receivable after more than one year29 | €10,001 | €5,235 | €1,315 | €45,550 | €39,700 | ▼ 12.8% |
| Other amounts receivable291 | €10,001 | €5,235 | €1,315 | €45,550 | €39,700 | ▼ 12.8% |
| Amounts receivable within one year40/41 | €19,833 | €30,761 | €45,667 | €14,212 | €18,286 | ▲ 28.7% |
| Trade receivables40 | €3,773 | €2,664 | €433 | €4,221 | €549 | ▼ 87.0% |
| Other amounts receivable41 | €16,060 | €28,097 | €45,234 | €9,991 | €17,737 | ▲ 77.5% |
| Current investments50/53 | €90,133 | €97,384 | €97,504 | €77,504 | €53,373 | ▼ 31.1% |
| Cash at bank and in hand54/58 | €61,241 | €54,128 | €62,688 | €126,100 | €130,398 | ▲ 3.4% |
| Deferred charges and accrued income490/1 | €231 | €231 | €295 | €295 | €295 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €201,436 | €198,693 | €208,590 | €264,236 | €288,593 | ▲ 9.2% |
| Equity10/15 | €183,946 | €165,883 | €198,783 | €250,236 | €234,004 | ▼ 6.5% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €171,546 | €153,483 | €186,383 | €237,836 | €221,604 | ▼ 6.8% |
| Non-distributable reserves130/1 | €1,855 | €1,855 | - | - | - | - |
| Reserves not available under the articles1311 | €1,855 | €1,855 | - | - | - | - |
| Tax-exempt reserves132 | €13,500 | €13,500 | €13,500 | €13,500 | €13,500 | = |
| Distributable reserves133 | €156,191 | €138,128 | €172,883 | €224,336 | €208,104 | ▼ 7.2% |
| Amounts payable17/49 | €17,491 | €32,810 | €9,806 | €14,001 | €54,589 | ▲ 290% |
| Amounts payable after more than one year17 | €9,298 | - | - | - | €25,183 | - |
| Financial debts170/4 | €9,298 | - | - | - | €25,183 | - |
| Amounts payable within one year42/48 | €8,192 | €32,810 | €9,806 | €14,001 | €29,406 | ▲ 110% |
| Current portion of amounts payable after more than one year42 | €5,920 | €9,193 | €3,113 | - | €6,609 | - |
| Trade debts44 | €2,272 | €5,918 | €704 | €2,911 | €1,517 | ▼ 47.9% |
| Suppliers440/4 | €2,272 | €5,918 | €704 | €2,911 | €1,517 | ▼ 47.9% |
| Taxes, remuneration and social security45 | - | €2,700 | €5,990 | €11,090 | €21,280 | ▲ 91.9% |
| Taxes450/3 | - | €2,700 | €5,990 | €11,090 | €21,280 | ▲ 91.9% |
| Other amounts payable47/48 | - | €15,000 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,774 | €14,937 | €32,900 | €51,452 | €53,768 | ▲ 4.5% |
| + Depreciation and write-downs630 | €9,946 | €10,398 | €9,833 | €1,313 | €12,351 | ▲ 840% |
| Operating cash flow (approximation) | €29,720 | €25,335 | €42,733 | €52,766 | €66,119 | ▲ 25.3% |
| Investment in fixed assets (approximation) | - | -€1,355 | €0 | -€768 | -€58,317 | ▼ 7,496% |
| Change in cash | - | -€7,113 | €8,560 | €63,412 | €4,298 | ▼ 93.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €53,768 ▲4.5%
Operating result €94,265, net result €53,768, both a record.
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €200,000Eq €250,236 ▲25.9%
7 profitable years in a row build equity to €250,236.
03-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Liquidity quadruplescurrent ratio 21.16
Current ratio from 5.72 to 21.16; short-term debt falls from €32,810 to €9,806.
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet €11,929 ▼8.8%
Net result drops to €11,929, the lowest in the series; recovery starts the following year.
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Kontich · 1 establishment unit since 2003
Ground area
2,627 m²
Building footprint
160 m²
Volume, LiDAR
758 m³
Parcel 11048B0043/02D000, Flanders · tallest building 7.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
S. STABEL
since 20032.132.966.751
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11048B0043/02D000 | Flanders | 2,627 m² | 1 · 160 m² | 7.7 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 4,318 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-06-2003
Fiscal year end30-09
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0480503158
Also
9925:BE0480503158
Registered
31-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.