Summary
STALUSA has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €190.5m and a net result of €3.2m. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 83% of 8737 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2025
1 d early
2024
1 d early
2023
1 d early
2022
3 d late
2021
31 d early
2020
10 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 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#10 company by total assets in Elsene, Professional and technical services sector#10 company by equity in Elsene, Professional and technical services sector
Equity
€190.5m▲ 1.7%
2025 · €187.4m
Total assets
€218.7m▼ 10.9%
2025 · €245.3m
Net result
€3.2m▼ 92.4%
2025 · €41.7m
Working capital
€63.2m▼ 0.2%
2025 · €63.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252025
Operating result-€447,130-€1.2m▼ 159%-€617,218▲ 46.7%€39.0m-€1.1m-
Net result€1.3m▼ 83.0%-€3.6m€1.9m€41.7m▲ 2,112%€3.2m-
Equity€175.7m▲ 0.8%€172.1m▼ 2.1%€173.9m▲ 1.1%€187.4m▲ 7.7%€190.5m-
Total assets€220.5m▼ 2.5%€219.3m▼ 0.5%€216.7m▼ 1.2%€245.3m▲ 13.2%€218.7m-
Debt€44.7m▼ 13.5%€47.3m▲ 5.6%€42.8m▼ 9.5%€57.9m▲ 35.4%€28.2m-
Working capital-€7.5m▲ 49.5%-€20.0m▼ 167%-€17.6m▲ 11.7%€63.3m€63.2m-
Staff (FTE)1.8▼ 10.0%2▲ 11.1%1.6▼ 20.0%2.3▲ 43.8%1.9-
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2025 as the grey bar beneath
Assets €218.7m
Fixed assets
€127.4m ▲ 2.6%
Current assets
€91.3m ▼ 24.7%
Equity and liabilities €218.7m
Equity
€190.5m ▲ 1.7%
Provisions
€0 ▼ 100%
Debt
€28.2m ▼ 51.4%
Debt's share of the balance-sheet total falls from 23.6% to 12.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.7%▼
2025 · 22.2%
ROA
1.4%▼
2025 · 17.0%
Debt ≤ 1 year
€28.1m▼
2025 · €57.9m
Debt > 1 year
€12,307▼
2025 · €19,933
Income taxes
€391,958▼
2025 · €1.0m
Staff costs
€113,351▼
2025 · €145,679
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5,050 | €264,960 | €40.4m | €11,436 | - |
| Remuneration, social security and pensions62 | €46,712 | €50,644 | €98,342 | €145,679 | €113,351 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €585,032 | €594,258 | €482,274 | €503,856 | €380,172 | - |
| Other operating charges640/8 | €104,371 | €25,818 | €58,548 | €95,370 | €33,960 | - |
| Non-recurring operating charges66A | - | €314,999 | - | €15,884 | €13,313 | - |
| Gross operating margin9900 | €288,984 | -€171,796 | €21,946 | €39.7m | -€590,910 | - |
| Operating profit (loss)9901 | -€447,130 | -€1.2m | -€617,218 | €39.0m | -€1.1m | - |
| Financial income75/76B | €2.8m | €2.8m | €3.1m | €6.6m | €3.8m | - |
| Recurring financial income75 | €2.8m | €2.8m | €3.1m | €6.6m | €3.8m | - |
| Financial charges65/66B | €1.0m | €5.3m | €385,378 | €2.9m | -€856,241 | - |
| Recurring financial charges65 | €1.0m | €1.5m | €132,916 | €2.3m | -€1.1m | - |
| Non-recurring financial charges66B | - | €3.8m | €252,461 | €630,113 | €264,415 | - |
| Profit (loss) for the period before taxes9903 | €1.3m | -€3.6m | €2.1m | €42.7m | €3.5m | - |
| Transfer from deferred taxes780 | €6,798 | €6,798 | €6,798 | €6,798 | €5,099 | - |
| Income taxes67/77 | €1,877 | €39,435 | €216,668 | €1.0m | €391,958 | - |
| Profit (loss) for the period9904 | €1.3m | -€3.6m | €1.9m | €41.7m | €3.2m | - |
| Transfer from tax-exempt reserves789 | €13,202 | €13,202 | €13,202 | €13,202 | €9,902 | - |
| Profit (loss) for the period to be appropriated9905 | €1.3m | -€3.6m | €1.9m | €41.7m | €3.2m | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €220.5m | €219.3m | €216.7m | €245.3m | €218.7m | - |
| Fixed assets21/28 | €195.7m | €192.3m | €191.6m | €124.1m | €127.4m | - |
| Intangible fixed assets21 | - | - | - | €10,183 | €8,477 | - |
| Tangible fixed assets22/27 | €10.9m | €10.4m | €6.9m | €6.5m | €6.0m | - |
| Land and buildings22 | €8.8m | €8.3m | €5.1m | €4.7m | €4.3m | - |
| Plant, machinery and equipment23 | €855,591 | €851,842 | €715,267 | €612,646 | €594,968 | - |
| Furniture and vehicles24 | €284,627 | €244,125 | €128,739 | €105,416 | €101,454 | - |
| Other tangible fixed assets26 | €992,846 | €992,846 | €992,846 | €992,846 | €1.0m | - |
| Financial fixed assets28 | €184.8m | €181.9m | €184.7m | €117.7m | €121.3m | - |
| Current assets29/58 | €24.7m | €27.1m | €25.1m | €121.2m | €91.3m | - |
| Amounts receivable after more than one year29 | €577,090 | €577,090 | €577,090 | €577,090 | €25.3m | - |
| Trade receivables290 | €577,090 | €577,090 | €577,090 | €577,090 | €25.3m | - |
| Amounts receivable within one year40/41 | €4.2m | €5.7m | €5.3m | €41.9m | €21.5m | - |
| Trade receivables40 | €13,382 | €13,348 | €300,029 | €106,760 | €79,050 | - |
| Other amounts receivable41 | €4.2m | €5.7m | €5.0m | €41.8m | €21.4m | - |
| Current investments50/53 | €18.8m | €18.8m | €17.8m | €77.4m | €44.0m | - |
| Cash at bank and in hand54/58 | €882,995 | €1.1m | €1.0m | €1.2m | €523,971 | - |
| Deferred charges and accrued income490/1 | €318,945 | €884,982 | €400,831 | €9,754 | €4,157 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €220.5m | €219.3m | €216.7m | €245.3m | €218.7m | - |
| Equity10/15 | €175.7m | €172.1m | €173.9m | €187.4m | €190.5m | - |
| Contributions10/11 | €157.2m | €157.2m | €157.2m | €128.9m | €128.9m | - |
| Reserves13 | €18.5m | €14.9m | €16.8m | €58.4m | €61.6m | - |
| Non-distributable reserves130/1 | €716,200 | €716,200 | €716,200 | - | - | - |
| Reserves not available under the articles1311 | €716,200 | €716,200 | €716,200 | - | - | - |
| Tax-exempt reserves132 | €49,508 | €36,306 | €23,104 | €9,902 | - | - |
| Distributable reserves133 | €17.7m | €14.1m | €16.0m | €58.4m | €61.6m | - |
| Provisions and deferred taxes16 | €25,493 | €18,695 | €11,897 | €5,099 | - | - |
| Deferred taxes168 | €25,493 | €18,695 | €11,897 | €5,099 | - | - |
| Amounts payable17/49 | €44.7m | €47.3m | €42.8m | €57.9m | €28.2m | - |
| Amounts payable after more than one year17 | €12.2m | €214,286 | €29,765 | €19,933 | €12,307 | - |
| Financial debts170/4 | €12.2m | €214,286 | €29,765 | €19,933 | €12,307 | - |
| Amounts payable within one year42/48 | €32.2m | €47.0m | €42.7m | €57.9m | €28.1m | - |
| Current portion of amounts payable after more than one year42 | - | - | €9,462 | €9,832 | €10,119 | - |
| Financial debts43 | €13.3m | €29.1m | €27.0m | €18.9m | €19.1m | - |
| Credit institutions430/8 | €13.3m | €29.1m | €27.0m | €18.9m | €19.1m | - |
| Trade debts44 | €106,492 | €105,290 | €75,914 | €13,503 | €191,364 | - |
| Suppliers440/4 | €106,492 | €105,290 | €75,914 | €13,503 | €191,364 | - |
| Taxes, remuneration and social security45 | €8,335 | €8,886 | €38,379 | €3.7m | €406,031 | - |
| Taxes450/3 | €3,991 | €3,991 | €29,105 | €3.7m | €384,464 | - |
| Remuneration and social security454/9 | €4,345 | €4,896 | €9,274 | €26,642 | €21,567 | - |
| Other amounts payable47/48 | €18.8m | €17.9m | €15.6m | €35.2m | €8.4m | - |
| Accrued charges and deferred income492/3 | €301,616 | €14,925 | €19,229 | €22,734 | €42,838 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | -€3.6m | €1.9m | €41.7m | €3.2m | - |
| + Depreciation and write-downs630 | €585,032 | €594,258 | €482,274 | €503,856 | €380,172 | - |
| Operating cash flow (approximation) | €1.9m | -€3.0m | €2.4m | €42.2m | €3.5m | - |
| Investment in fixed assets (approximation) | - | €2.8m | €154,738 | €67.0m | - | - |
| Change in cash | - | €184,539 | -€22,265 | €141,999 | - | - |
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
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2019net €41.7m ▲2,112%
Operating result €39.0m, net result €41.7m, both a record.
31-03
Financial
Liquidity quadruplescurrent ratio 2.09
Current ratio from 0.59 to 2.09.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Back to profitnet €1.9m
Net result €1.9m after one loss-making year.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€3.6m
Net result drops to -€3.6m, the lowest in the series; recovery starts the following year.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Back to profitnet €7.7m
Net result €7.7m after one loss-making year.
2020
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2019
26-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 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
16 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 2002
Ground area
161 m²
Building footprint
102 m²
Volume, LiDAR
1,337 m³
Parcel 21807G0158/00P000, Brussels · tallest building 19.3 m, ±5 floors. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
Louizalaan 292, 1050 Brussel
since 20022.096.288.576
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0158/00P000 | Brussels | 161 m² | 1 · 102 m² | 19.3 m · 5 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
12 holdings · 5 subsidiaries in the treeOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 12
-
100%
-
100%
-
50%
-
50%
-
40%
-
40%
-
37.76%
-
25%
-
25%
-
20%
Show 2 more holdings
-
11.63%
-
10%
All subsidiaries, including indirect ones 5
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
JPSeven 100%3 subsidiaries
- JPK REAL ESTATE 60%
- RAHET 60%
- TECHFUND 60%
- WARRIOR EQUATIONPT 100%
According to the 2025 annual accounts of STALUSA 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.
Recognitions · licences · registrations
Legal Entity Identifier
222100316YA5FOL6SR13
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 640 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
Founded30-04-2002
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477445282
Also
9925:BE0477445282
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.