STAL CAVARO
ActiveSTAL CAVARO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €226k and a net result of €46k. Equity is growing by ~21.9% per year across the filed fiscal years. Its solvency ranks better than 67% of 2291 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
80
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability81▲+1
Solvency74▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity tight (current ratio 1.36 against 1.24 in 2024; short-term debt: 14.7% and cash: 6.4% of total assets), and 51.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 93
Relative position
BE, all sectors
reference
Sector 93
lower
← 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
48.6%
Return on assets
9.9%
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 31-03-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
26 d early
2023
33 d early
2022
3 d early
2021
31 d early
2020
29 d early
2019
27 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
20-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€226k▲ 25.6%
2024 · €179k
2018: €56k
2019: €68k
2020: €83k
2021: €106k
2022: €125k
2023: €145k
2024: €179k
2018 → 2025
Total assets
€464k▲ 18.4%
2024 · €392k
2018: €444k
2019: €441k
2020: €435k
2021: €420k
2022: €397k
2023: €433k
2024: €392k
2018 → 2025
Net result
€46k▲ 34.1%
2024 · €34k
2018: €3k
2019: €12k
2020: €16k
2021: €23k
2022: €19k
2023: €20k
2024: €34k
2018 → 2025
Working capital
€24k▲ 55.8%
2024 · €16k
2018: €-96k
2019: €-82k
2020: €-36k
2021: €-10k
2022: €-17k
2023: €-59k
2024: €16k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€106k-€125k▲ 17.5%€145k▲ 16.3%€179k▲ 23.6%€226k▲ 25.6%
Operating result€38k-€26k▼ 33.5%€24k▼ 4.1%€33k▲ 36.1%€40k▲ 20.1%
Net result€23k-€19k▼ 18.7%€20k▲ 9.9%€34k▲ 68.3%€46k▲ 34.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 20% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €464k
Fixed assets
€371k▲ 19.4%
Current assets
€93k▲ 14.4%
Equity and liabilities €464k
Equity
€226k▲ 25.6%
Debt
€238k▲ 12.3%
The debt ratio falls from 54.2% to 51.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€83k▲
2024 · €75k
Cash flow
€89k▲
2024 · €76k
Solvency
48.6%▲
2024 · 45.8%
Current ratio
1.36▲
2024 · 1.24
Quick ratio
0.67▲
2024 · 0.54
Debt / equity
1.06▼
2024 · 1.18
ROE
20.4%▲
2024 · 19.1%
ROA
9.9%▲
2024 · 8.8%
Interest coverage
577.43▲
2024 · 231.46
Debt
€238k▲
2024 · €212k
Debt ≤ 1 year
€68k▲
2024 · €65k
Debt > 1 year
€170k▲
2024 · €147k
Income taxes
€19k▲
2024 · €17k
Staff costs
€11k▼
2024 · €13k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€392k€464k▲
Fixed assets21/28€311k€371k▲
Tangible fixed assets22/27€311k€371k▲
Land and buildings22€215k€201k▼
Plant, machinery and equipment23€28k€25k▼
Furniture and vehicles24€68k€145k▲
Current assets29/58€81k€93k▲
Stocks and contracts in progress3€46k€47k▲
Stocks30/36€46k€47k▲
Amounts receivable within one year40/41€13k€15k▲
Trade receivables40€10k€14k▲
Other amounts receivable41€3k€943▼
Cash at bank and in hand54/58€21k€30k▲
Deferred charges and accrued income490/1€457€575▲
Equity and liabilities
Total equity and liabilities10/49€392k€464k▲
Equity10/15€179k€226k▲
Contributions10/11€19k€19k=
Reserves13€161k€207k▲
Tax-exempt reserves132€7k€7k=
Distributable reserves133€154k€200k▲
Amounts payable17/49€212k€238k▲
Amounts payable after more than one year17€147k€170k▲
Financial debts170/4€147k€170k▲
Amounts payable within one year42/48€65k€68k▲
Current portion of amounts payable after more than one year42-€13k
Trade debts44€8k€3k▼
Suppliers440/4€8k€3k▼
Taxes, remuneration and social security45€1k€15k▲
Taxes450/3€1k€12k▲
Remuneration and social security454/9€288€3k▲
Other amounts payable47/48€56k€37k▼
Income statement
Code20242025
Remuneration, social security and pensions62€13k€11k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€43k▲
Other operating charges640/8€21k€11k▼
Gross operating margin9900€109k€105k▼
Operating profit (loss)9901€33k€40k▲
Financial income75/76B€18k€26k▲
Recurring financial income75€18€26k▲
Non-recurring financial income76B€18k€26k▲
Financial charges65/66B€324€144▼
Recurring financial charges65€324€144▼
Profit (loss) for the period before taxes9903€51k€65k▲
Income taxes67/77€17k€19k▲
Profit (loss) for the period9904€34k€46k▲
Profit (loss) for the period to be appropriated9905€34k€46k▲
Appropriation of the result
Profit (loss) to be appropriated9906€34k€46k▲
Transfer to equity691/2€34k€46k▲
To other reserves6921€34k€46k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €46k ▲34.1%
Operating result €40k, net result €46k, both a record.
30-09
Financial
Equity above €200kEq €226k ▲25.6%
8 profitable years in a row build equity to €226k.
04-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Liquidity doublescurrent ratio 1.24
Current ratio from 0.58 to 1.24; short-term debt falls from €141k to €65k.
30-09
Financial
Equity above €150kEq €179k ▲23.6%
7 profitable years in a row build equity to €179k.
28-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €100kEq €106k ▲27.4%
4 profitable years in a row build equity to €106k.
01-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-04
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
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Westerlo · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Olenseweg 3062260 WesterloGround area
708 m²
Building footprint
109 m²
Volume, LiDAR
774 m³
Parcel 13039B0290/00P000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Manège Stal Cavaro
since 20082.172.092.492
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13039B0290/00P000 | Flanders | 708 m² | 1 · 109 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,000 EUR awarded · 1,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,000 EUR | 1,000 EUR |
Schemes
Premie kwalificerend werkplekleren
Recognitions · licences · registrations
Dual-learning approval
3 live approvalsHippisch assistent duaal (so)
Paardenhouder duaal (so)
Paardenhouderij duaal (so)
Similar companies · same sector, comparable size
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THELEME SPORT
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Ath · Eq €226k
CLEE EQUESTRIAN
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FUN ON ICE
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BLACK LIGHT GOLF
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Liège · Eq €226k
Of 3,292 companies in sector 93110 we hold annual accounts for 1,492. 1,104 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-04-2008
Fiscal year end30-09
Activities, NACEBEL
93110Operation of sports facilities
01480Raising of other animals
01490Crop and animal production, hunting and related service activities
47762Retail sale of pets, pet food and pet supplies
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
77210Renting and leasing of sports and recreation goods
96995Pet boarding
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.