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STAPPO

Dissolution or liquidation
Private limited companyfounded 2012Rue Hector Denis 17, 4460 Grâce-Hollogne, BelgiumKBO/BCE: BE 0845.201.481
STAPPODissolution or liquidation

Financials · financial year 2025, abbreviated format

2025 annual accounts filed 60 days after the deadline Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00549229.

Annual accounts 2025 filed on 29-09-2026 at the NBB all 13 filings

Turnover
≈ €1.5m
Estimated: probably between €1.2m and €2.8m
EBIT margin
Not included in this filing
Net result
€3,021
2024 · -€95,601
Working capital
-€75,552▲ 53.1%
2024 · -€161,120
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is a profit of €9,428, after a loss of €83,329 in 2024.

Operating result€9,428 2025 Net result€3,021 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€13,034-€11,436▼ 12.3%€15,647▲ 36.8%€10,465▼ 33.1%€13,755▲ 31.4%-€3,232-€83,329▼ 2,479%€9,428
Net result€819-€87▼ 89.4%€5,559within the sector's middle half▲ 64×€1,673below the sector's middle half▼ 69.9%€568below the sector's middle half▼ 66.0%-€17,784below the sector's middle half-€95,601below the sector's middle half▼ 438%€3,021within the sector's middle half
Equity€23,415-€23,502▲ 0.4%€29,061below the sector's middle half▲ 23.7%€30,734below the sector's middle half▲ 5.8%€31,302below the sector's middle half▲ 1.8%€13,518below the sector's middle half▼ 56.8%-€82,083below the sector's middle half-€79,062below the sector's middle half▲ 3.7%
Total assets€646,870-€677,332▲ 4.7%€614,037below the sector's middle half▼ 9.3%€745,122below the sector's middle half▲ 21.3%€752,906below the sector's middle half▲ 1.0%€684,847below the sector's middle half▼ 9.0%€536,140below the sector's middle half▼ 21.7%€632,580within the sector's middle half▲ 18.0%
Debt€623,455-€653,830▲ 4.9%€584,976▼ 10.5%€714,387▲ 22.1%€721,604▲ 1.0%€671,329▼ 7.0%€618,223▼ 7.9%€711,642▲ 15.1%
Working capital€111,486-€105,939▼ 5.0%€100,064within the sector's middle half▼ 5.5%€31,013below the sector's middle half▼ 69.0%€14,443below the sector's middle half▼ 53.4%-€34,439below the sector's middle half-€161,120below the sector's middle half▼ 368%-€75,552below the sector's middle half▲ 53.1%
Solvency3.6%-3.5%▼ 0.1pp4.7%below the sector's middle half▲ 1.3pp4.1%below the sector's middle half▼ 0.6pp4.2%below the sector's middle half=2.0%below the sector's middle half▼ 2.2pp-15.3%below the sector's middle half▼ 17.3pp-12.5%below the sector's middle half▲ 2.8pp
Current ratio1.22-1.19▼ 0.031.21within the sector's middle half▲ 0.021.05below the sector's middle half▼ 0.161.02below the sector's middle half▼ 0.030.94below the sector's middle half▼ 0.080.72below the sector's middle half▼ 0.220.89below the sector's middle half▲ 0.17
Return on assets (ROA)0.1%-0.0%▼ 0.1pp0.9%within the sector's middle half▲ 0.9pp0.2%below the sector's middle half▼ 0.7pp0.1%below the sector's middle half▼ 0.1pp-2.6%below the sector's middle half▼ 2.7pp-17.8%below the sector's middle half▼ 15.2pp0.5%within the sector's middle half▲ 18.3pp
Staff (FTE)3.1-4▲ 29.0%4within the sector's middle half=3.8within the sector's middle half▼ 5.0%4.1within the sector's middle half▲ 7.9%4.8within the sector's middle half▲ 17.1%4.8within the sector's middle half=4.8within the sector's middle half=
above within below The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €632,580
Fixed assets €21,953 ▼ 81.7%
Current assets €610,627 ▲ 46.7%
Equity and liabilities
Equity-€79,062
Debt€711,642
Equity is negative. Debt (€711,642) exceeds the balance-sheet total (€632,580).
Key figures and ratios
2025 value · change against 2024
EBITDA
€38,332▲
2024 · -€55,608
Cash flow
€31,925▲
2024 · -€67,880
Interest coverage
5.95▲
2024 · -4.20
Debt ≤ 1 year
€686,179▲
2024 · €577,272
Debt > 1 year
€19,872▼
2024 · €40,951
Staff costs
€211,312▼
2024 · €220,207
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-2024
Employees at the balance-sheet date3555
full-time3444
part-time-111
in full-time equivalents34.84.84.8
Average over the year, in full-time equivalents3.84.14.84.8
On a permanent contract3345
Joined111-
Left201-

Source: social balance sheet in the 2021 to 2024 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€70,692€9,021€48,246€33,205€3,341
Intangible fixed assets€1,000----
Depreciation and write-downs of the year€10,800€15,259€23,077€27,721€28,904

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines

Source: Annual accounts 2025 at the NBB, filed on 29-09-2026.

Balance sheet Code20242025
Assets
Total assets20/58€536,140€632,580▲
Formation expenses20€0-
Fixed assets21/28€119,989€21,953▼
Intangible fixed assets21€350€150▼
Tangible fixed assets22/27€119,449€21,614▼
Plant, machinery and equipment23€47,658€0▼
Furniture and vehicles24€55,600€21,614▼
Leasing and similar rights25€16,191€0▼
Financial fixed assets28€190€190=
Current assets29/58€416,151€610,627▲
Stocks and contracts in progress3€269,527€0▼
Stocks30/36€269,527€0▼
Amounts receivable within one year40/41€80,311€587,392▲
Trade receivables40€80,311€587,392▲
Cash at bank and in hand54/58€66,134€22,978▼
Deferred charges and accrued income490/1€179€257▲
Equity and liabilities
Total equity and liabilities10/49€536,140€632,580▲
Equity10/15-€82,083-€79,062▲
Contributions10/11€19,145€19,145=
Profit (loss) carried forward14-€101,228-€98,207▲
Amounts payable17/49€618,223€711,642▲
Amounts payable after more than one year17€40,951€19,872▼
Financial debts170/4€40,951€19,872▼
Amounts payable within one year42/48€577,272€686,179▲
Current portion of amounts payable after more than one year42€14,834€13,779▼
Financial debts43-€2,182
Credit institutions430/8-€2,182
Trade debts44€427,356€409,938▼
Suppliers440/4€427,356€409,938▼
Taxes, remuneration and social security45€114,848€240,132▲
Taxes450/3€75,880€205,046▲
Remuneration and social security454/9€38,967€35,086▼
Other amounts payable47/48€20,234€20,148▼
Accrued charges and deferred income492/3-€5,592
Income statement Code20242025
Non-recurring operating income76A-€108,280
Remuneration, social security and pensions62€220,207€211,312▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27,721€28,904▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€7,890€2,004▼
Non-recurring operating charges66A€15,619-
Gross operating margin9900€188,108€251,648▲
Operating profit (loss)9901-€83,329€9,428▲
Financial income75/76B€956€37▼
Recurring financial income75€956€37▼
Financial charges65/66B€13,229€6,444▼
Recurring financial charges65€13,229€6,444▼
Profit (loss) for the period before taxes9903-€95,601€3,021▲
Profit (loss) for the period9904-€95,601€3,021▲
Profit (loss) for the period to be appropriated9905-€95,601€3,021▲
Appropriation of the result
Profit (loss) to be appropriated9906-€101,228-€98,207▲
Profit (loss) brought forward from the previous period14P-€5,627-€101,228▼
Social balance sheet
Average headcount (FTE)90874.84.8=

The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Non-recurring operating income76A-----€6,735-€108,280-
Remuneration, social security and pensions62---€57,216€170,110€224,062€220,207€211,312▼ 4.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8,259€6,941€4,985€10,800€15,259€23,077€27,721€28,904▲ 4.3%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€6,107--€0--
Other operating charges640/8---€7,143€7,890€10,683€7,890€2,004▼ 74.6%
Non-recurring operating charges66A---€6,408€4,339-€15,619--
Gross operating margin9900€139,801€165,098€90,500€98,138€211,353€254,591€188,108€251,648▲ 33.8%
Operating profit (loss)9901€13,034€11,436€15,647€10,465€13,755-€3,232-€83,329€9,428-
Financial income75/76B---€39€327€675€956€37▼ 96.1%
Recurring financial income75€132€339€28€39€327€675€956€37▼ 96.1%
Financial charges65/66B---€8,831€11,366€14,690€13,229€6,444▼ 51.3%
Recurring financial charges65€11,513€10,509€9,208€8,831€11,366€14,690€13,229€6,444▼ 51.3%
Profit (loss) for the period before taxes9903€1,654€1,265€6,468€1,673€2,716-€17,247-€95,601€3,021-
Income taxes67/77€835€1,179€909-€2,148€537---
Profit (loss) for the period9904€819€87€5,559€1,673€568-€17,784-€95,601€3,021-
Profit (loss) for the period to be appropriated9905€819€87€5,559€1,673€568-€17,784-€95,601€3,021-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€646,870€677,332€614,037€745,122€752,906€684,847€536,140€632,580▲ 18.0%
Formation expenses20----€0€0€0--
Fixed assets21/28€18,912€11,971€34,681€95,574€89,336€114,505€119,989€21,953▼ 81.7%
Intangible fixed assets21€11,328€8,056€5,034€2,961€750€550€350€150▼ 57.2%
Tangible fixed assets22/27€7,394€3,725€29,457€92,423€88,396€113,765€119,449€21,614▼ 81.9%
Plant, machinery and equipment23---€53,366€50,229€54,226€47,658€0▼ 100%
Furniture and vehicles24---€39,057€38,167€35,253€55,600€21,614▼ 61.1%
Leasing and similar rights25-----€24,286€16,191€0▼ 100%
Financial fixed assets28€190€190€190€190€190€190€190€190=
Current assets29/58€627,958€665,361€579,356€649,548€663,571€570,343€416,151€610,627▲ 46.7%
Stocks and contracts in progress3€375,259€399,940€331,031€420,135€401,399€385,464€269,527€0▼ 100%
Stocks30/36---€420,135€401,399€385,464€269,527€0▼ 100%
Amounts receivable within one year40/41€147,740€138,962€156,758€133,412€157,285€122,912€80,311€587,392▲ 631%
Trade receivables40---€131,226€156,313€122,912€80,311€587,392▲ 631%
Other amounts receivable41---€2,186€972----
Cash at bank and in hand54/58€87,152€97,906€81,530€75,248€72,167€50,700€66,134€22,978▼ 65.3%
Deferred charges and accrued income490/1---€20,752€32,718€11,267€179€257▲ 43.6%
Equity and liabilities
Total equity and liabilities10/49€646,870€677,332€614,037€745,122€752,906€684,847€536,140€632,580▲ 18.0%
Equity10/15€23,415€23,502€29,061€30,734€31,302€13,518-€82,083-€79,062▲ 3.7%
Contributions10/11€18,600€18,600-€18,600€18,600€19,145€19,145€19,145=
Reserves13€545€545€545€545€545----
Non-distributable reserves130/1---€545€545----
Reserves not available under the articles1311---€545€545----
Profit (loss) carried forward14€4,270€4,357€9,916€11,589€12,157-€5,627-€101,228-€98,207▲ 3.0%
Amounts payable17/49€623,455€653,830€584,976€714,387€721,604€671,329€618,223€711,642▲ 15.1%
Amounts payable after more than one year17€106,983€94,408€105,684€95,505€72,128€66,547€40,951€19,872▼ 51.5%
Financial debts170/4---€95,505€72,128€66,547€40,951€19,872▼ 51.5%
Amounts payable within one year42/48€516,473€559,423€479,292€618,535€649,128€604,781€577,272€686,179▲ 18.9%
Current portion of amounts payable after more than one year42---€22,629€23,376€31,184€14,834€13,779▼ 7.1%
Financial debts43-------€2,182-
Credit institutions430/8-------€2,182-
Trade debts44€365,443€427,483€399,596€501,930€485,212€445,483€427,356€409,938▼ 4.1%
Suppliers440/4---€501,930€485,212€445,483€427,356€409,938▼ 4.1%
Taxes, remuneration and social security45---€75,447€122,721€122,991€114,848€240,132▲ 109%
Taxes450/3---€60,474€84,165€78,671€75,880€205,046▲ 170%
Remuneration and social security454/9---€14,972€38,556€44,320€38,967€35,086▼ 10.0%
Other amounts payable47/48---€18,531€17,818€5,123€20,234€20,148▼ 0.4%
Accrued charges and deferred income492/3---€348€348--€5,592-
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€819€87€5,559€1,673€568-€17,784-€95,601€3,021-
+ Depreciation and write-downs630€8,259€6,941€4,985€10,800€15,259€23,077€27,721€28,904▲ 4.3%
Operating cash flow (approximation)€9,078€7,028€10,544€12,473€15,827€5,293-€67,880€31,925-
Investment in fixed assets (approximation)-€0-€27,695-€71,692-€9,021-€48,246-€33,205€69,132-
Change in cash-€10,754-€16,376-€6,282-€3,081-€21,468€15,435-€43,156-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 13 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 29-09-2026 2026-00549229 NBB
31-12-2024 full format 28-11-2025 2025-00573567 PDF
31-12-2023 full format 30-09-2024 2024-00488057 PDF
31-12-2022 full format 31-08-2023 2023-00430066 PDF
31-12-2021 full format 22-11-2022 2022-20523262 PDF
31-12-2020 full format 28-10-2021 2021-74100053 PDF
31-12-2019 full format 30-11-2020 2020-73300382 PDF
31-12-2018 full format 27-09-2019 2019-66300490 PDF
31-12-2017 full format 31-08-2018 2018-60500452 PDF
31-12-2016 full format 29-08-2017 2017-53500177 PDF

Show all 13 filings