Checked.be
Active
BE 0555.895.221Private limited company
STE
Neerstraat 5 ·9220 Hamme (Vl.), Belgium· 12 yrs active
Sector: Insulation installation
(43230)
Conclusion
STE has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €87k and a net result of €64k. Equity is growing by ~27.1% per year across the filed fiscal years. Its solvency ranks better than 52% of 26547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €87k |
| Net result | €64k |
| Better than sector | 52% |
| Active | 12 yrs |
Financial profile
91
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
100
Solvency
90
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2014, 12 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€7k
estimate, not credit advice
Score history
78
2022
78
2023
86
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.79 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.79 (≥ 1.0)
+5
Leverage
Debt/equity 1.02 (< 2.0)
+3
Profitability
ROE 73% (≥ 10%)
+10
Interest coverage
Interest coverage 19.5× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 17-12-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~27.1%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 49.6% | 47.4% | |
| Net result | €64k | €10k | |
| Equity | €87k | €60k | |
| Gross operating margin | €96k | €39k | |
| Total assets | €175k | €141k |
€92k
-28.7%
22-25
€64k
-33.1%
22-25
€73k
-29.4%
22-25
€175k
-30.7%
22-25
€87k
+37.3%
22-25
€70k
+78.5%
22-25
€160
-
22-25
€17k
-14.1%
22-25
€40k
-50.0%
22-25
€88k
-53.4%
22-25
€88k
-53.4%
22-25
1.79
+48.5%
22-25
1.79
+48.5%
22-25
49.6%
+98.2%
22-25
1.02
-66.1%
22-25
73.2%
-51.3%
22-25
36.3%
-3.4%
22-25
19.46
-71.1%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €92k | €129k | €63k | €66k |
| Net profit | €64k | €95k | €34k | €43k |
| Cash flow | €73k | €103k | €40k | €51k |
| Staff costs | - | - | €160 | - |
| Income taxes | €17k | €20k | €21k | €12k |
| Dividends | €40k | €80k | €32k | €40k |
| Total assets | €175k | €253k | €192k | €164k |
| Equity | €87k | €63k | €48k | €47k |
| Debt | €88k | €190k | €144k | €118k |
| of which ≤ 1y | €88k | €190k | €144k | €102k |
| of which > 1y | - | - | - | - |
| Working capital | €70k | €39k | €37k | €43k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.79 | 1.21 | 1.25 | 1.42 |
| Quick ratio | 1.79 | 1.21 | 1.25 | 1.42 |
| Working capital ratio | 40.0% | 15.5% | 19.1% | 26.0% |
| Solvency | 49.6% | 25.0% | 25.2% | 28.3% |
| Debt / equity | 1.02 | 3.00 | 2.97 | 2.53 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | 19.46 | 67.32 | 19.25 | 21.39 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 36.3% | 37.6% | 17.6% | 26.4% |
| ROE | 73.2% | 150.1% | 69.9% | 93.3% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €175k | €253k | €192k | €164k |
| Fixed assets | 21/28 | €17k | €24k | €12k | €19k |
| Tangible fixed assets | 22/27 | €17k | €24k | €11k | €16k |
| Financial fixed assets | 28 | €194 | €194 | €194 | €4k |
| Current assets | 29/58 | €158k | €229k | €180k | €145k |
| Amounts receivable within one year | 40/41 | €136k | €154k | €128k | €85k |
| Cash & bank | 54/58 | €15k | €70k | €50k | €43k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €175k | €253k | €192k | €164k |
| Equity | 10/15 | €87k | €63k | €48k | €47k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €67k | €43k | €28k | €26k |
| Amounts payable | 17/49 | €88k | €190k | €144k | €118k |
| Amounts payable within one year | 42/48 | €88k | €190k | €144k | €102k |
| Trade debts payable within one year | 44 | €48k | €110k | €99k | €46k |
| Income statement | |||||
| Gross operating margin | 9900 | €96k | €135k | €65k | €71k |
| Operating result | 9901 | €82k | €121k | €57k | €58k |
| Financial income | 75 | €3k | €3k | €757 | €96 |
| Financial charges | 65 | €5k | €2k | €3k | €3k |
| Result before taxes | 9903 | €81k | €115k | €55k | €56k |
| Income taxes | 67/77 | €17k | €20k | €21k | €12k |
| Net result for the period | 9904 | €64k | €95k | €34k | €43k |
| Result to be appropriated | 9905 | €64k | €95k | €34k | €43k |
Legal Structure
| NACE primary | Insulation installation(43230) |
| Legal form | Private limited company(610) |
| Incorporation | 10-07-2014 |
| Status | Active |
| Postal code | 9220 |
Establishment units
Noordstraat 82, 9220 Hamme (Vl.)
since 20142.233.751.929
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42008A1534/00K002 | Flanders | 1,237 m² | 1 · 690 m² | 5.7 m · 2 fl. |
| 42008A1761/00M004 | Flanders | 174 m² | 1 · 71 m² | 11.7 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2025
17-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Highest result since 2022net €95k ▲182%
Operating result €121k, net result €95k, both a record.
20-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet €34k ▼22.4%
Net result drops to €34k, the lowest in the series; recovery starts the following year.
2022
12-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
29-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
08-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-01
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.
Belgian State Gazette reading coverage
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Insulation installation43230Specialised construction activities43291
Names & trade names
| Legal nameNL | STE |
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