STALE
ActiveSummary
STALE has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €204,989 and a net result of €28,990. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 40% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+6
Solvency46▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 1.56 against 0.86 in 2024; short-term debt: 8.9% and cash: 5.4% of total assets), but 79% of the assets are financed with debt.
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Signals
Seven 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
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
21%
Return on assets
3%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €204,989
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
3 d early
2023
on the day
2022
on the day
2021
on the day
2020
10 d late
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 1 day 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€204,989▲ 16.5%
2024 · €175,999
Total assets
€975,140▼ 1.7%
2024 · €991,804
Net result
€28,990▲ 132%
2024 · €12,518
Working capital
€48,477
2024 · -€19,143
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€29,003▲ 24.4%€37,683▲ 29.9%€46,606▲ 23.7%€51,505▲ 10.5%€69,629▲ 35.2%
Net result-€10,744below the sector's middle half▲ 36.5%-€4,354within the sector's middle half▲ 59.5%€4,952within the sector's middle half€12,518within the sector's middle half▲ 153%€28,990within the sector's middle half▲ 132%
Equity€162,883within the sector's middle half▼ 6.2%€158,529within the sector's middle half▼ 2.7%€163,481within the sector's middle half▲ 3.1%€175,999within the sector's middle half▲ 7.7%€204,989within the sector's middle half▲ 16.5%
Total assets€974,810within the sector's middle half▼ 1.3%€994,879within the sector's middle half▲ 2.1%€1.0mwithin the sector's middle half▲ 0.7%€991,804within the sector's middle half▼ 1.0%€975,140within the sector's middle half▼ 1.7%
Debt€811,927▼ 0.3%€836,350▲ 3.0%€838,047▲ 0.2%€815,805▼ 2.7%€770,151▼ 5.6%
Working capital-€110,016▲ 4.9%-€105,060▲ 4.5%-€66,776▲ 36.4%-€19,143▲ 71.3%€48,477
Solvency16.7%within the sector's middle half▼ 0.9pp15.9%within the sector's middle half▼ 0.8pp16.3%within the sector's middle half▲ 0.4pp17.7%within the sector's middle half▲ 1.4pp21.0%within the sector's middle half▲ 3.3pp
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 has risen four years in a row; 2025 is 35% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €975,140
Fixed assets
€840,028 ▼ 4.0%
Current assets
€135,112 ▲ 15.8%
Equity and liabilities €975,140
Equity
€204,989 ▲ 16.5%
Debt
€770,151 ▼ 5.6%
Debt's share of the balance-sheet total falls from 82.3% to 79.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€104,743▲
2024 · €86,620
Cash flow
€64,104▲
2024 · €47,633
Current ratio
1.56▲
2024 · 0.86
Debt to equity
3.76▼
2024 · 4.64
ROE
14.1%▲
2024 · 7.1%
ROA
3.0%▲
2024 · 1.3%
Interest coverage
2.74▲
2024 · 2.22
Debt ≤ 1 year
€86,635▼
2024 · €135,805
Debt > 1 year
€680,000=
2024 · €680,000
Income taxes
€2,436
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,099 | €35,453 | €35,115 | €35,115 | €35,114 | = |
| Other operating charges640/8 | €10,337 | €10,525 | €11,441 | €11,961 | €12,755 | ▲ 6.6% |
| Gross operating margin9900 | €71,439 | €83,661 | €93,162 | €98,581 | €117,498 | ▲ 19.2% |
| Operating profit (loss)9901 | €29,003 | €37,683 | €46,606 | €51,505 | €69,629 | ▲ 35.2% |
| Financial income75/76B | - | - | €1,501 | - | - | - |
| Recurring financial income75 | - | - | €1,501 | - | - | - |
| Financial charges65/66B | €39,747 | €42,037 | €42,705 | €38,987 | €38,203 | ▼ 2.0% |
| Recurring financial charges65 | €39,747 | €42,037 | €42,705 | €38,987 | €38,203 | ▼ 2.0% |
| Profit (loss) for the period before taxes9903 | -€10,744 | -€4,354 | €5,402 | €12,518 | €31,426 | ▲ 151% |
| Income taxes67/77 | - | - | €450 | - | €2,436 | - |
| Profit (loss) for the period9904 | -€10,744 | -€4,354 | €4,952 | €12,518 | €28,990 | ▲ 132% |
| Profit (loss) for the period to be appropriated9905 | -€10,744 | -€4,354 | €4,952 | €12,518 | €28,990 | ▲ 132% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €974,810 | €994,879 | €1.0m | €991,804 | €975,140 | ▼ 1.7% |
| Fixed assets21/28 | €952,899 | €945,372 | €910,257 | €875,142 | €840,028 | ▼ 4.0% |
| Tangible fixed assets22/27 | €406,649 | €399,122 | €364,007 | €328,892 | €293,778 | ▼ 10.7% |
| Land and buildings22 | €392,477 | €362,287 | €332,097 | €301,906 | €271,717 | ▼ 10.0% |
| Plant, machinery and equipment23 | €14,172 | €36,835 | €31,910 | €26,986 | €22,061 | ▼ 18.3% |
| Financial fixed assets28 | €546,250 | €546,250 | €546,250 | €546,250 | €546,250 | = |
| Current assets29/58 | €21,911 | €49,507 | €91,271 | €116,662 | €135,112 | ▲ 15.8% |
| Amounts receivable within one year40/41 | - | - | €1,762 | €450 | - | - |
| Trade receivables40 | - | - | €1,312 | - | - | - |
| Other amounts receivable41 | - | - | €450 | €450 | - | - |
| Current investments50/53 | €17,680 | €34,001 | €50,096 | €66,175 | €82,252 | ▲ 24.3% |
| Cash at bank and in hand54/58 | €4,014 | €15,277 | €39,156 | €49,773 | €52,594 | ▲ 5.7% |
| Deferred charges and accrued income490/1 | €217 | €229 | €257 | €264 | €266 | ▲ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €974,810 | €994,879 | €1.0m | €991,804 | €975,140 | ▼ 1.7% |
| Equity10/15 | €162,883 | €158,529 | €163,481 | €175,999 | €204,989 | ▲ 16.5% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | €656,220 | €656,220 | €656,220 | €656,220 | €656,220 | = |
| Profit (loss) carried forward14 | -€555,337 | -€559,691 | -€554,739 | -€542,221 | -€513,231 | ▲ 5.3% |
| Amounts payable17/49 | €811,927 | €836,350 | €838,047 | €815,805 | €770,151 | ▼ 5.6% |
| Amounts payable after more than one year17 | €680,000 | €680,000 | €680,000 | €680,000 | €680,000 | = |
| Financial debts170/4 | €680,000 | €680,000 | €680,000 | €680,000 | €680,000 | = |
| Amounts payable within one year42/48 | €131,927 | €154,567 | €158,047 | €135,805 | €86,635 | ▼ 36.2% |
| Trade debts44 | - | - | €1,312 | €2,016 | - | - |
| Suppliers440/4 | - | - | €1,312 | €2,016 | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €2,436 | - |
| Taxes450/3 | - | - | - | - | €2,436 | - |
| Other amounts payable47/48 | €131,927 | €154,567 | €156,735 | €133,789 | €84,199 | ▼ 37.1% |
| Accrued charges and deferred income492/3 | - | €1,783 | - | - | €3,516 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,744 | -€4,354 | €4,952 | €12,518 | €28,990 | ▲ 132% |
| + Depreciation and write-downs630 | €32,099 | €35,453 | €35,115 | €35,115 | €35,114 | = |
| Operating cash flow (approximation) | €21,355 | €31,099 | €40,067 | €47,633 | €64,104 | ▲ 34.6% |
| Investment in fixed assets (approximation) | - | -€27,926 | €0 | €0 | €0 | - |
| Change in cash | - | €11,263 | €23,879 | €10,617 | €2,821 | ▼ 73.4% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €28,990 ▲132%
Operating result €69,629, net result €28,990, both a record.
31-12
Financial
Equity above €200,000Eq €204,989 ▲16.5%
3 profitable years in a row build equity to €204,989.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4,952
Net result €4,952 after 5 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Elsene · 1 establishment unit since 1995
Ground area
463 m²
Building footprint
463 m²
Volume, LiDAR
6,928 m³
Parcel 21009A0402/00M000, Brussels · tallest building 29.7 m, ±6 floors. Linked by address, not a title deed.
35
companies at this address
See who is registered here
1 establishment unit
STALE
since 19952.072.035.509
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0402/00M000 | Brussels | 463 m² | 1 · 463 m² | 29.7 m · 6 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.
Structure & network
Owners and holdings
3 owners · 1 holdingChain of control
- HANSEEUW HOLDING
- STALE
Highest known parent: HANSEEUW HOLDING. The sources do not say who stands above it.
Owners 3
- HANSEEUW HOLDINGparent71.36%
-
27.44%
-
0.96%
Holdings 1
-
6.16%
According to the 2025 annual accounts of STALE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 4,812 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
Founded30-05-1995
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455272270
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.