STAPIMMO
ActiveSummary
STAPIMMO has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €223k and a net result of €196k. Equity is shrinking by ~29.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 22% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▲+25
Solvency33▲+7
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.01 in 2024; short-term debt: 91.4% and cash: 0.1% of total assets), and 92% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Eight 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
8%
Return on assets
7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 4556 sector peers (2025).
NBB · sector comparisonPosition among 4556 sector peers
Solvency
better than 22%
← weakest
strongest →
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 €223k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
19 d late
2023
26 d late
2022
28 d late
2021
22 d late
2020
11 d late
2019
7 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€196k▲ 737%
2024 · €23k
Working capital
€-2.54M▲ 11.7%
2024 · €-2.88M
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
Line20212022202320242025
Operating result€-46k▲ 27.7%€-99k▼ 118%€59k€94k▲ 59.6%€273k▲ 192%
Net result€-69k▲ 13.4%€-135k▼ 97.0%€-29k▲ 78.5%€23k€196k▲ 737%
Equity€168k▼ 28.9%€33k▼ 80.2%€4k▼ 87.2%€28k▲ 548%€223k▲ 708%
Total assets€2.29M▼ 5.7%€3.17M▲ 38.6%€3.05M▼ 3.6%€2.95M▼ 3.3%€2.80M▼ 5.3%
Debt€2.12M▼ 3.2%€3.13M▲ 48.0%€3.05M▼ 2.7%€2.92M▼ 4.1%€2.57M▼ 12.0%
Working capital€-1.99M▲ 0.3%€-3.07M▼ 53.7%€-2.98M▲ 2.7%€-2.88M▲ 3.5%€-2.54M▲ 11.7%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 192% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.80M
Fixed assets
€2.78M ▼ 5.1%
Current assets
€15k ▼ 34.9%
Equity and liabilities €2.80M
Equity
€223k ▲ 708%
Debt
€2.57M ▼ 12.0%
Debt's share of the balance-sheet total falls from 99.1% to 92.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€371k▲
2024 · €189k
Cash flow
€293k▲
2024 · €119k
Current ratio
0.01▼
2024 · 0.01
Debt to equity
11.53
ROE
87.6%▲
2024 · 84.6%
ROA
7.0%▲
2024 · 0.8%
Interest coverage
4.76▲
2024 · 2.69
Debt ≤ 1 year
€2.55M▼
2024 · €2.90M
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 | €84k | €250k | €110k | €96k | €98k | ▲ 2.0% |
| Other operating charges640/8 | €4k | €31k | €5k | €25k | €26k | ▲ 1.2% |
| Gross operating margin9900 | €43k | €182k | €173k | €215k | €397k | ▲ 84.8% |
| Operating profit (loss)9901 | €-46k | €-99k | €59k | €94k | €273k | ▲ 192% |
| Financial income75/76B | - | €9 | - | €38 | - | - |
| Recurring financial income75 | - | €9 | - | €38 | - | - |
| Financial charges65/66B | €23k | €36k | €88k | €70k | €78k | ▲ 10.7% |
| Recurring financial charges65 | €23k | €36k | €88k | €70k | €78k | ▲ 10.7% |
| Profit (loss) for the period before taxes9903 | €-69k | €-135k | €-29k | €23k | €196k | ▲ 737% |
| Profit (loss) for the period9904 | €-69k | €-135k | €-29k | €23k | €196k | ▲ 737% |
| Transfer from tax-exempt reserves789 | €16k | €16k | €16k | €16k | €16k | = |
| Profit (loss) for the period to be appropriated9905 | €-52k | €-119k | €-13k | €40k | €212k | ▲ 434% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.29M | €3.17M | €3.05M | €2.95M | €2.80M | ▼ 5.3% |
| Fixed assets21/28 | €2.17M | €3.12M | €3.01M | €2.93M | €2.78M | ▼ 5.1% |
| Tangible fixed assets22/27 | €2.17M | €3.12M | €3.01M | €2.93M | €2.78M | ▼ 5.1% |
| Land and buildings22 | €2.16M | €3.11M | €3.00M | €2.91M | €2.65M | ▼ 8.8% |
| Plant, machinery and equipment23 | €17k | €16k | €14k | €21k | €130k | ▲ 507% |
| Current assets29/58 | €113k | €43k | €38k | €23k | €15k | ▼ 34.9% |
| Amounts receivable within one year40/41 | €112k | €14k | €18k | €20k | €12k | ▼ 42.6% |
| Trade receivables40 | €112k | €14k | €18k | €20k | €11k | ▼ 44.6% |
| Other amounts receivable41 | - | - | - | - | €407 | - |
| Cash at bank and in hand54/58 | €259 | €30k | €20k | €2k | €3k | ▲ 28.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.29M | €3.17M | €3.05M | €2.95M | €2.80M | ▼ 5.3% |
| Equity10/15 | €168k | €33k | €4k | €28k | €223k | ▲ 708% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €384k | €367k | €351k | €335k | €318k | ▼ 4.9% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | €376k | €359k | €343k | €327k | €310k | ▼ 5.0% |
| Distributable reserves133 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €-277k | €-396k | €-408k | €-369k | €-157k | ▲ 57.5% |
| Amounts payable17/49 | €2.12M | €3.13M | €3.05M | €2.92M | €2.57M | ▼ 12.0% |
| Amounts payable within one year42/48 | €2.11M | €3.11M | €3.02M | €2.90M | €2.55M | ▼ 11.9% |
| Financial debts43 | €1.31M | €1.94M | €1.76M | €1.56M | €1.40M | ▼ 10.3% |
| Credit institutions430/8 | €1.31M | €1.94M | €1.76M | €1.56M | €1.40M | ▼ 10.3% |
| Trade debts44 | - | €2k | - | €10k | - | - |
| Suppliers440/4 | - | €2k | - | €10k | - | - |
| Taxes, remuneration and social security45 | €1k | €16k | €6k | €5k | €4k | ▼ 17.3% |
| Taxes450/3 | €1k | €16k | €6k | €5k | €4k | ▼ 17.3% |
| Other amounts payable47/48 | €801k | €1.15M | €1.25M | €1.32M | €1.15M | ▼ 13.1% |
| Accrued charges and deferred income492/3 | €11k | €25k | €28k | €25k | €17k | ▼ 30.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-69k | €-135k | €-29k | €23k | €196k | ▲ 737% |
| + Depreciation and write-downs630 | €84k | €250k | €110k | €96k | €98k | ▲ 2.0% |
| Operating cash flow (approximation) | €16k | €115k | €81k | €119k | €293k | ▲ 146% |
| Investment in fixed assets (approximation) | - | €-1.20M | €0 | €-10k | €51k | ▲ 613% |
| Change in cash | - | €29k | €-10k | €-18k | €708 | ▲ 104% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €196k ▲737%
Operating result €273k, net result €196k, both a record.
31-12
Financial
Equity above €200kEq €223k ▲708%
2 profitable years in a row build equity to €223k.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 19 days late
2024
31-12
Financial
Back to profitnet €23k
Net result €23k after 5 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet €-135k
Net result drops to €-135k, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 22 days late
2021
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 11 days late
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 7 days late
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Elsene · 1 establishment unit since 2003
Ground area
528 m²
Building footprint
535 m²
Volume, LiDAR
5,182 m³
Parcel 21009A0766/00S003, Brussels · tallest building 21.3 m, ±3 floors. Linked by address, not a title deed.
28
companies at this address
See who is registered here
1 establishment unit
STAPIMMO
since 20032.133.047.420
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0766/00S003 | Brussels | 528 m² | 1 · 535 m² | 21.3 m · 3 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.
Similar companies · same sector, comparable size
Gosseye - De Groote
BE 0419.371.382
Zottegem · Eq €223,018
LIKERT
BE 0472.584.295
Ternat · Eq €222,902
Patriost
BE 0768.259.004
Anzegem · Eq €222,875
RUMANA
BE 0774.899.841
Sint-Katelijne-Waver · Eq €222,708
Immopharma
BE 0427.622.025
Erpe-Mere · Eq €222,692
Of 12,041 companies in sector 68203 we hold annual accounts for 5,994. 4,307 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
Founded11-04-2003
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.