STEAL
ActiveSummary
STEAL has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of -€109,634. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 76% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability25▼-35
Solvency90▼-5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.01 in 2024; short-term debt: 35.1% and cash: 0.8% of total assets), and 35.1% of the assets are financed with debt.
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Signals
Six 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
64.9%
Return on assets
-7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€109,634
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
31 d early
2023
27 d late
2022
225 d late
2021
312 d late
2020
200 d late
2019
224 d late
← 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 133 days after 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. Usually files around 28 August (4 of the last 5 filed years within 197 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.0m▼ 9.7%
2024 · €1.1m
Total assets
€1.6m▼ 2.7%
2024 · €1.6m
Net result
-€109,634▼ 93.8%
2024 · -€56,580
Working capital
-€508,314▼ 16.4%
2024 · -€436,566
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-€72,810▼ 69.8%-€10,581▲ 85.5%-€82,748▼ 682%-€52,724▲ 36.3%-€46,506▲ 11.8%
Net result-€31,731below the sector's middle half▲ 34.8%-€22,896below the sector's middle half▲ 27.8%-€86,258below the sector's middle half▼ 277%-€56,580below the sector's middle half▲ 34.4%-€109,634below the sector's middle half▼ 93.8%
Equity€1.3mabove the sector's middle half▼ 4.2%€1.3mabove the sector's middle half▼ 1.8%€1.2mabove the sector's middle half▼ 6.8%€1.1mabove the sector's middle half▼ 4.8%€1.0mwithin the sector's middle half▼ 9.7%
Total assets€1.9mabove the sector's middle half▼ 5.8%€1.8mabove the sector's middle half▼ 5.2%€1.7mabove the sector's middle half▼ 2.6%€1.6mabove the sector's middle half▼ 5.9%€1.6mwithin the sector's middle half▼ 2.7%
Debt€498,327▼ 7.0%€424,206▼ 14.9%€464,883▲ 9.6%€438,852▼ 5.6%€553,152▲ 26.0%
Working capital-€337,616below the sector's middle half▼ 52.6%-€360,060below the sector's middle half▼ 6.6%-€448,270below the sector's middle half▼ 24.5%-€436,566below the sector's middle half▲ 2.6%-€508,314below the sector's middle half▼ 16.4%
Solvency69.6%above the sector's middle half▲ 1.1pp72.1%above the sector's middle half▲ 2.5pp69.0%above the sector's middle half▼ 3.1pp69.9%above the sector's middle half▲ 0.8pp64.9%above the sector's middle half▼ 5.0pp
Current ratio0.02below the sector's middle half▼ 0.160.00below the sector's middle half▼ 0.020.04below the sector's middle half▲ 0.030.01below the sector's middle half▼ 0.030.08below the sector's middle half▲ 0.08
Return on assets (ROA)-1.7%within the sector's middle half▲ 0.8pp-1.3%within the sector's middle half▲ 0.4pp-5.0%below the sector's middle half▼ 3.7pp-3.5%below the sector's middle half▲ 1.5pp-7.0%below the sector's middle half▼ 3.5pp
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 stays negative: a loss of €46,506 in 2025 against €52,724 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.5m ▼ 5.3%
Current assets
€44,838 ▲ 1,862%
Equity and liabilities €1.6m
Equity
€1.0m ▼ 9.7%
Provisions
€0 ▼ 100%
Debt
€553,152 ▲ 26.0%
Debt's share of the balance-sheet total rises from 27.1% to 35.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€40,835▲
2024 · €35,633
Cash flow
-€22,294▼
2024 · €31,776
Debt to equity
0.54▲
2024 · 0.39
ROE
-10.7%▼
2024 · -5.0%
Interest coverage
1.74▼
2024 · 5.53
Debt ≤ 1 year
€553,152▲
2024 · €438,852
Income taxes
€39,693
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,616 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,503 | €1,045 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,053 | €89,619 | €87,907 | €88,356 | €87,341 | ▼ 1.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€18,942 | -€48,295 | ▼ 155% |
| Other operating charges640/8 | €9,960 | €11,461 | €9,917 | €41,171 | €11,741 | ▼ 71.5% |
| Gross operating margin9900 | €26,203 | €90,499 | €15,076 | €57,862 | €4,281 | ▼ 92.6% |
| Operating profit (loss)9901 | -€72,810 | -€10,581 | -€82,748 | -€52,724 | -€46,506 | ▲ 11.8% |
| Financial income75/76B | €2,469 | €2,458 | - | €2,592 | - | - |
| Recurring financial income75 | €2,469 | €2,458 | - | €2,592 | - | - |
| Financial charges65/66B | €5,611 | €5,144 | €3,510 | €6,448 | €23,436 | ▲ 263% |
| Recurring financial charges65 | €5,611 | €5,144 | €3,510 | €6,448 | €23,436 | ▲ 263% |
| Profit (loss) for the period before taxes9903 | -€75,953 | -€13,267 | -€86,258 | -€56,580 | -€69,941 | ▼ 23.6% |
| Transfer from deferred taxes780 | €44,221 | - | - | - | - | - |
| Income taxes67/77 | - | €9,629 | - | - | €39,693 | - |
| Profit (loss) for the period9904 | -€31,731 | -€22,896 | -€86,258 | -€56,580 | -€109,634 | ▼ 93.8% |
| Transfer from tax-exempt reserves789 | €19,434 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€12,297 | -€22,896 | -€86,258 | -€56,580 | -€109,634 | ▼ 93.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €1.8m | €1.7m | €1.6m | €1.6m | ▼ 2.7% |
| Fixed assets21/28 | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 5.3% |
| Tangible fixed assets22/27 | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 5.3% |
| Land and buildings22 | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 5.4% |
| Furniture and vehicles24 | €2,916 | €1,465 | €1,286 | €1,371 | €2,530 | ▲ 84.5% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €8,460 | €1,062 | €16,613 | €2,286 | €44,838 | ▲ 1,862% |
| Amounts receivable within one year40/41 | €5,774 | €49 | €15,283 | €49 | €32,865 | ▲ 66,972% |
| Trade receivables40 | €5,029 | - | €9,321 | - | €25,711 | - |
| Other amounts receivable41 | €745 | €49 | €5,963 | €49 | €7,154 | ▲ 14,500% |
| Cash at bank and in hand54/58 | €2,686 | €1,013 | €1,330 | €2,237 | €11,973 | ▲ 435% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €1.8m | €1.7m | €1.6m | €1.6m | ▼ 2.7% |
| Equity10/15 | €1.3m | €1.3m | €1.2m | €1.1m | €1.0m | ▼ 9.7% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Capital10 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Issued capital100 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Revaluation surpluses12 | €1.1m | €1.0m | €992,316 | €944,004 | €895,692 | ▼ 5.1% |
| Reserves13 | €250,580 | €201,437 | €163,491 | €155,222 | €203,534 | ▲ 31.1% |
| Non-distributable reserves130/1 | €9,020 | €9,020 | €9,020 | €9,020 | €9,020 | = |
| Legal reserve130 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Reserves not available under the articles1311 | €5,922 | €5,922 | €5,922 | €5,922 | €5,922 | = |
| Distributable reserves133 | €241,560 | €192,417 | €154,471 | €146,202 | €194,514 | ▲ 33.0% |
| Profit (loss) carried forward14 | -€74,559 | - | - | - | -€109,634 | - |
| Provisions and deferred taxes16 | €67,237 | €67,237 | €67,237 | €48,295 | - | - |
| Provisions for liabilities and charges160/5 | €67,237 | €67,237 | €67,237 | €48,295 | - | - |
| Major repairs and maintenance162 | €67,237 | €67,237 | €67,237 | €48,295 | - | - |
| Amounts payable17/49 | €498,327 | €424,206 | €464,883 | €438,852 | €553,152 | ▲ 26.0% |
| Amounts payable after more than one year17 | €152,250 | €63,084 | - | - | - | - |
| Financial debts170/4 | €152,250 | €63,084 | - | - | - | - |
| Amounts payable within one year42/48 | €346,077 | €361,122 | €464,883 | €438,852 | €553,152 | ▲ 26.0% |
| Current portion of amounts payable after more than one year42 | €103,549 | €89,167 | €65,250 | - | €300,000 | - |
| Trade debts44 | €94,123 | €97,770 | €158,122 | €194,607 | €161,223 | ▼ 17.2% |
| Suppliers440/4 | €94,123 | €97,770 | €158,122 | €194,607 | €161,223 | ▼ 17.2% |
| Advances received on contracts in progress46 | €5,029 | €9,321 | €9,321 | €11,165 | €11,165 | = |
| Taxes, remuneration and social security45 | €163 | €14,818 | €9,629 | €10,519 | €9,629 | ▼ 8.5% |
| Taxes450/3 | €163 | €14,818 | €9,629 | €10,519 | €9,629 | ▼ 8.5% |
| Other amounts payable47/48 | €143,213 | €150,047 | €222,562 | €222,562 | €71,136 | ▼ 68.0% |
| Accrued charges and deferred income492/3 | - | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€31,731 | -€22,896 | -€86,258 | -€56,580 | -€109,634 | ▼ 93.8% |
| + Depreciation and write-downs630 | €89,053 | €89,619 | €87,907 | €88,356 | €87,341 | ▼ 1.1% |
| Operating cash flow (approximation) | €57,322 | €66,723 | €1,649 | €31,776 | -€22,294 | ▼ 170% |
| Investment in fixed assets (approximation) | - | €0 | -€26,775 | -€1,130 | -€1,159 | ▼ 2.6% |
| Change in cash | - | -€1,673 | €317 | €907 | €9,736 | ▲ 974% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€109,634
Net result drops to -€109,634, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
12-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 225 days late
2023
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 312 days late
2022
16-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 200 days late
2021
12-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 224 days late
2019
18-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 140 days late
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 92 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.
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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, Gent · 1 establishment unit since 1990
Ground area
839 m²
Building footprint
243 m²
Volume, LiDAR
1,449 m³
2 parcels, Flanders · tallest building 12.9 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
STEAL NV
since 19902.050.466.766
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017C0838/00H000 | Flanders | 725 m² | 1 · 181 m² | 5.9 m · 2 fl. |
| 44021A1550/00M002 | Flanders | 114 m² | 1 · 62 m² | 12.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 4,829 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
Founded26-06-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68121Development of residential building projects
62100Computer programming
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441221722
Also
9925:BE0441221722
Registered
30-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.