STAG BELGIUM

Active

Public limited companyfounded 2012active for 13 yearsLouizalaan 71, 1050 Brussel, BelgiumKBO/BCE: BE 0500.495.848

Summary

The computed 12-month bankruptcy probability of STAG BELGIUM is 5.2% (elevated). The 2025 annual accounts show negative equity (-€28.0m) and a net result of -€1.5m. Equity is shrinking by about 12% per year across the filed financial years. Its solvency ranks better than 5% of 511 sector peers (NACE 55, financial year 2025). The company has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

STAG BELGIUMActiveChecked score 35/100

Risk analysis Report Compare

Activity

Hotels and similar accommodation

NACE 55100

2nd largest employer in Elsene, Accommodation and food service sector1 site

Size

€22.1mturnover 2025

Staff: 126.8 FTE
Equity: -€28.0m
Loss: -€1.5m

Financial health

35 Weak Checked score 2025

Bankruptcy probabilitywithin 12 months: 5.2%

Structure

Parent: H World Group Limited

Norman Sébastian MARKDirector
Thoralf KerkDirector

Auditor: SRL DELOITTE Réviseurs d'Entreprises2025 accounts filed 81 days late4 of 25 deeds summarised

Why 35raises riskLoss of €1.5m, the second in a row (financial year 2025)Negative equity -€28.0mLiquidity: current ratio 0.22, cash €166,628, halvedLast filed accounts filed 81 days late; 2 of the last 3 lateShow the evidence

Checked score

Score 2025

35 / 100

Weak

Probability in this band: 4.2% to 15.0%

Financially better than 12% of its sector peers (NACE 55, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 0=

equity -399.1% of total assets

Liquidity 3-8

short-term debt 424.3% · cash 2.4%

Profitability 9-13

return on assets -22.1%

Bankruptcy probability, 12 months

5.2% Elevated

0%0.5%1.5%4%10%≥ 25%

About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (111 companies, NACE 55, medium-sized)

Last 24 months 11-2024: 3.7% 12-2024: 3.7%● unchanged vs 11-2024 01-2025: 3.7%● unchanged vs 12-2024 02-2025: 3.7%● unchanged vs 01-2025 03-2025: 3.6%▼ -0.1 percentage points vs 02-2025 04-2025: 3.6%● unchanged vs 03-2025 05-2025: 3.5%▼ -0.1 percentage points vs 04-2025 06-2025: 3.6%▲ +0.1 percentage points vs 05-2025 07-2025: 3.7%▲ +0.1 percentage points vs 06-2025 08-2025: 3.7%● unchanged vs 07-2025 09-2025: 3.6%▼ -0.1 percentage points vs 08-2025 10-2025: 3.7%▲ +0.1 percentage points vs 09-2025 11-2025: 2.8%▼ -0.9 percentage points vs 10-2025 12-2025: 2.8%● unchanged vs 11-2025 01-2026: 2.8%● unchanged vs 12-2025 02-2026: 2.8%● unchanged vs 01-2026 03-2026: 2.7%▼ -0.1 percentage points vs 02-2026 04-2026: 2.7%● unchanged vs 03-2026 05-2026: 2.7%● unchanged vs 04-2026 06-2026: 2.8%▲ +0.1 percentage points vs 05-2026 07-2026: 2.9%▲ +0.1 percentage points vs 06-2026 08-2026: 2.8%▼ -0.1 percentage points vs 07-2026 09-2026: 2.6%▼ -0.2 percentage points vs 08-2026lowest value 10-2026: 5.2%▲ +2.6 percentage points vs 09-2026highest value

No credit on open account

Liquidity insufficient (current ratio 0.22, compared with 0.23 in 2024, below 1; short-term debt: 424.3% and cash: 2.4% of total assets), and equity is negative.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 55, medium-sized): better than 8% on solvency, 3% on liquidity, 11% on profitability and 25% on growth.

The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

raises risk

Loss of €1.5m, the second in a row (financial year 2025)

NBB · annual accounts

Negative equity -€28.0m

NBB · annual accounts

Liquidity: current ratio 0.22, cash €166,628, halved

NBB · annual accounts

Last filed accounts filed 81 days late; 2 of the last 3 late

NBB · filings

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year -€28.0m

2025 accounts filed 81 days late

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-10-2026, 81 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 10 filings

Deviation from the deadline

2025

81 days late

2024

64 days late

2023

8 days early

2022

135 days late

2021

418 days late

2020

32 days early

2019

21 days 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 91 days after the deadline; the sector median (NACE 55) for financial year 2024 is 1 day before the deadline, and 45% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 20 October (4 of the last 5 filed years within 88 days of that day).

Companies Code · seven months

Where today falls in the filing period

29-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

20-10-2026 Annual accounts filedfinancial year 2025 · full…
10-09-2026 Reappointment: Norman Sébastian MARK (director)Power of attorney
03-10-2025 Annual accounts filedfinancial year 2024 · full…

Key points

Risk: Negative equityfinancial year 2025: debts exceed assets -€28.0m View
Risk: 3 loss-making years in a rowloss financial year 2025 -€1.5m View
Caution: Result fell in 2025from -€867,584 to -€1.5m ▼ 78.4% View
Caution: Among the weakest 5% on solvencysector median 34.8% · 511 companies -399.1% View
Caution: Latest accounts filed lateafter the legal deadline 81 days View
Controlled by H World Group Limitedultimately: Steigenberger Hotels Aktiengesellschaft parent View

By topic

Financials

Financial year: 2025
Turnover: €22.1m
Loss: -€1.5m
Solvency: -399.1%

Turnover▼ 4.8%

Net result

20182025

Go to Financials

Board & ownership

Board: 2 members
Parent: H World Group Limited
Auditor: SRL DELOITTE Réviseurs d'Entreprises

Norman Sébastian MARKDirector
Thoralf KerkDirector

Go to Board & ownership

Network & group

Group: Steigenberger Hotels Aktiengesellschaft

Go to Network & group

Timeline

Events: 19
Since: 2014
Next accounts: by 31-07-2027

04-09-2025Appointment: Deloitte Réviseurs d'Entreprises SRL (accountant)
13-02-2025Resignation: Josef DOLP (director)
23-07-2024Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Hotels and similar accommodationNACE 55100
Founded: 31-10-2012
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Key facts about STAG BELGIUM

What is the company number of STAG BELGIUM?: 0500.495.848. In Belgium the VAT number is the company number with BE in front: BE 0500.495.848.
Where is STAG BELGIUM based?: The registered office is at Louizalaan 71, 1050 Brussel.Company details
What does STAG BELGIUM do?: According to the KBO register, the main activity is hotels and similar accommodation (NACE 55100).
What is the legal form of STAG BELGIUM?: Public limited company (NV).
When was STAG BELGIUM founded?: On 31-10-2012.
Is STAG BELGIUM still active?: Yes, STAG BELGIUM is an active enterprise in the KBO register.
How many employees does STAG BELGIUM have?: On average 126.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of STAG BELGIUM?: €22.1m in financial year 2025, according to the filed annual accounts.
Is STAG BELGIUM profitable?: In financial year 2025, STAG BELGIUM made a loss of €1.5m.
Where can I find the annual accounts of STAG BELGIUM?: STAG BELGIUM filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of STAG BELGIUM due?: By 31-07-2027, for financial year 2026.Timeline