Stal VCE
ActiveSummary
Stal VCE has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €105,285 and a net result of -€66,424. Equity is shrinking by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 35% of 14284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability9▲+2
Solvency38▼-9
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity short (current ratio 0.12 against 0.02 in 2024; short-term debt: 49.5% and cash: 0% of total assets), and 87.1% 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
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
12.9%
Return on assets
-8.1%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€66,424
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 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
on the day
2023
35 d late
2022
37 d early
2021
4 d late
2020
202 d late
2019
35 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 24 days after 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 30 April (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€105,285▼ 38.7%
2024 · €171,709
Total assets
€819,212▲ 4.9%
2024 · €780,725
Net result
-€66,424▲ 13.1%
2024 · -€76,430
Working capital
-€357,102▼ 51.3%
2024 · -€236,101
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€747▼ 97.1%-€54,405€10,240-€66,001-€60,607▲ 8.2%
Net result-€9,559below the sector's middle half-€64,237below the sector's middle half▼ 572%€599within the sector's middle half-€76,430below the sector's middle half-€66,424below the sector's middle half▲ 13.1%
Equity€311,777within the sector's middle half▼ 3.0%€247,540within the sector's middle half▼ 20.6%€248,139within the sector's middle half▲ 0.2%€171,709within the sector's middle half▼ 30.8%€105,285within the sector's middle half▼ 38.7%
Total assets€1.1mwithin the sector's middle half▲ 10.9%€860,016within the sector's middle half▼ 19.6%€808,568within the sector's middle half▼ 6.0%€780,725within the sector's middle half▼ 3.4%€819,212within the sector's middle half▲ 4.9%
Debt€757,589▲ 17.8%€612,476▼ 19.2%€560,429▼ 8.5%€609,016▲ 8.7%€713,927▲ 17.2%
Working capital-€63,011within the sector's middle half-€135,405within the sector's middle half▼ 115%-€130,052below the sector's middle half▲ 4.0%-€236,101below the sector's middle half▼ 81.5%-€357,102below the sector's middle half▼ 51.3%
Solvency29.2%within the sector's middle half▼ 4.2pp28.8%within the sector's middle half▼ 0.4pp30.7%within the sector's middle half▲ 1.9pp22.0%within the sector's middle half▼ 8.7pp12.9%within the sector's middle half▼ 9.1pp
Current ratio0.74within the sector's middle half▼ 1.000.07below the sector's middle half▼ 0.670.09below the sector's middle half▲ 0.010.02below the sector's middle half▼ 0.070.12below the sector's middle half▲ 0.10
Return on assets (ROA)-0.9%below the sector's middle half▼ 2.0pp-7.5%below the sector's middle half▼ 6.6pp0.1%within the sector's middle half▲ 7.5pp-9.8%below the sector's middle half▼ 9.9pp-8.1%below the sector's middle half▲ 1.7pp
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €60,607 in 2025 against €66,001 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €819,212
Fixed assets
€770,881 ▼ 0.6%
Current assets
€48,331 ▲ 1,084%
Equity and liabilities €819,212
Equity
€105,285 ▼ 38.7%
Debt
€713,927 ▲ 17.2%
Debt's share of the balance-sheet total rises from 78.0% to 87.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€6,175▲
2024 · -€14,892
Cash flow
-€11,992▲
2024 · -€25,321
Quick ratio
0.09▲
2024 · 0.02
Debt to equity
6.78▲
2024 · 3.55
ROE
-63.1%▼
2024 · -44.5%
Interest coverage
-1.06▲
2024 · -1.97
Debt ≤ 1 year
€405,433▲
2024 · €240,183
Debt > 1 year
€308,493▼
2024 · €368,833
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,507 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.6%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,507 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,185 | €53,071 | €53,069 | €51,109 | €54,432 | ▲ 6.5% |
| Other operating charges640/8 | €21,952 | €4,588 | €3,575 | €11,656 | €6,047 | ▼ 48.1% |
| Gross operating margin9900 | €67,884 | €3,254 | €66,884 | -€3,236 | -€127 | ▲ 96.1% |
| Operating profit (loss)9901 | €747 | -€54,405 | €10,240 | -€66,001 | -€60,607 | ▲ 8.2% |
| Financial income75/76B | €9 | €103 | €0 | €152 | - | - |
| Recurring financial income75 | €9 | €103 | €0 | €152 | - | - |
| Financial charges65/66B | €10,059 | €9,678 | €9,480 | €7,548 | €5,817 | ▼ 22.9% |
| Recurring financial charges65 | €10,059 | €9,678 | €9,480 | €7,548 | €5,817 | ▼ 22.9% |
| Profit (loss) for the period before taxes9903 | -€9,303 | -€63,981 | €760 | -€73,397 | -€66,424 | ▲ 9.5% |
| Income taxes67/77 | €256 | €256 | €161 | €3,033 | - | - |
| Profit (loss) for the period9904 | -€9,559 | -€64,237 | €599 | -€76,430 | -€66,424 | ▲ 13.1% |
| Profit (loss) for the period to be appropriated9905 | -€9,559 | -€64,237 | €599 | -€76,430 | -€66,424 | ▲ 13.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €860,016 | €808,568 | €780,725 | €819,212 | ▲ 4.9% |
| Formation expenses20 | - | - | - | €1,265 | - | - |
| Fixed assets21/28 | €888,594 | €849,480 | €796,411 | €775,378 | €770,881 | ▼ 0.6% |
| Tangible fixed assets22/27 | €888,594 | €849,480 | €796,411 | €775,378 | €770,881 | ▼ 0.6% |
| Land and buildings22 | €868,958 | €820,919 | €772,880 | €724,840 | €708,058 | ▼ 2.3% |
| Plant, machinery and equipment23 | €14,605 | €25,915 | €23,047 | €50,253 | €62,740 | ▲ 24.8% |
| Furniture and vehicles24 | €5,030 | €2,646 | €485 | €284 | €83 | ▼ 70.9% |
| Current assets29/58 | €180,772 | €10,535 | €12,157 | €4,082 | €48,331 | ▲ 1,084% |
| Stocks and contracts in progress3 | - | - | - | - | €10,000 | - |
| Stocks30/36 | - | - | - | - | €10,000 | - |
| Amounts receivable within one year40/41 | €174,036 | €10,130 | €11,883 | €2,459 | €35,257 | ▲ 1,334% |
| Trade receivables40 | €154,445 | €2,314 | €800 | €800 | €30,875 | ▲ 3,759% |
| Other amounts receivable41 | €19,591 | €7,816 | €11,083 | €1,659 | €4,382 | ▲ 164% |
| Cash at bank and in hand54/58 | €6,736 | €405 | €274 | €1,623 | €349 | ▼ 78.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €2,725 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €860,016 | €808,568 | €780,725 | €819,212 | ▲ 4.9% |
| Equity10/15 | €311,777 | €247,540 | €248,139 | €171,709 | €105,285 | ▼ 38.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | - | €62,000 | - |
| Issued capital100 | €62,000 | €62,000 | €62,000 | - | €62,000 | - |
| Revaluation surpluses12 | €302,502 | €302,502 | €302,502 | €302,502 | €216,592 | ▼ 28.4% |
| Reserves13 | €797 | €797 | €797 | €797 | €86,706 | ▲ 10,783% |
| Non-distributable reserves130/1 | €797 | €797 | €797 | €797 | €797 | = |
| Legal reserve130 | - | - | - | - | €797 | - |
| Reserves not available under the articles1311 | €797 | €797 | €797 | €797 | - | - |
| Distributable reserves133 | - | - | - | - | €85,910 | - |
| Profit (loss) carried forward14 | -€53,522 | -€117,759 | -€117,159 | -€193,590 | -€260,013 | ▼ 34.3% |
| Amounts payable17/49 | €757,589 | €612,476 | €560,429 | €609,016 | €713,927 | ▲ 17.2% |
| Amounts payable after more than one year17 | €513,806 | €466,535 | €418,221 | €368,833 | €308,493 | ▼ 16.4% |
| Financial debts170/4 | €453,139 | €405,868 | €357,553 | €308,166 | €307,563 | ▼ 0.2% |
| Other amounts payable178/9 | €60,667 | €60,667 | €60,667 | €60,667 | €931 | ▼ 98.5% |
| Amounts payable within one year42/48 | €243,782 | €145,941 | €142,209 | €240,183 | €405,433 | ▲ 68.8% |
| Current portion of amounts payable after more than one year42 | €46,255 | €47,271 | €48,315 | €46,735 | €37,745 | ▼ 19.2% |
| Trade debts44 | €140,772 | €0 | €85 | €61,776 | €55,259 | ▼ 10.5% |
| Suppliers440/4 | €140,772 | €0 | €85 | €61,776 | €55,259 | ▼ 10.5% |
| Taxes, remuneration and social security45 | €405 | €256 | €417 | €328 | €256 | ▼ 21.9% |
| Taxes450/3 | €405 | €256 | €417 | €328 | €256 | ▼ 21.9% |
| Other amounts payable47/48 | €56,350 | €98,414 | €93,393 | €131,344 | €312,173 | ▲ 138% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,559 | -€64,237 | €599 | -€76,430 | -€66,424 | ▲ 13.1% |
| + Depreciation and write-downs630 | €45,185 | €53,071 | €53,069 | €51,109 | €54,432 | ▲ 6.5% |
| Operating cash flow (approximation) | €35,627 | -€11,166 | €53,668 | -€25,321 | -€11,992 | ▲ 52.6% |
| Investment in fixed assets (approximation) | - | -€13,958 | €0 | -€30,075 | -€49,935 | ▼ 66.0% |
| Change in cash | - | -€6,330 | -€131 | €1,349 | -€1,273 | ▼ 194% |
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
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet -€76,430
Net result drops to -€76,430, the lowest in the series; recovery starts the following year.
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 35 days late
2023
30-09
Financial
Back to profitnet €599
Net result €599 after 2 loss-making years.
24-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
04-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 4 days late
2021
18-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 202 days late
2020
30-09
Financial
Back to profitnet €10,650
Net result €10,650 after one loss-making year.
30-09
Financial
Liquidity times 146current ratio 1.74
Current ratio from 0.01 to 1.74; short-term debt falls from €146,409 to €108,368.
26-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-03
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.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Diepenbeek · 1 establishment unit since 2002
Ground area
737 m²
Building footprint
349 m²
Volume, LiDAR
1,805 m³
Parcel 71011B0460/00H000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Peperstraat 15, 3590 Diepenbeek
since 20022.096.045.284
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71011B0460/00H000 | Flanders | 737 m² | 1 · 349 m² | 7.3 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 8,500 EUR awarded · 8,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 8,500 EUR | 8,500 EUR |
Recognitions · licences · registrations
Dual-learning approval
3 endedHippisch assistent duaal (so)
Paardenhouderij duaal (so)
Paardenhouder (so)
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Of 12,041 companies in sector 68203 we hold annual accounts for 6,007. 3,822 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-01-2002
Fiscal year end30-09
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
93199Other sports activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476723128
Also
9925:BE0476723128
Registered
08-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.