Steelforce Packaging
ActiveSummary
Steelforce Packaging has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €14.91M and a net result of €-3.34M. Equity is growing by ~16.3% per year across the filed fiscal years. Its solvency ranks better than 10% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
31
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability16▼-15
Solvency32▼-5
Growth68=
Track record94
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €460k at 30 days only on tighter terms
Liquidity tight (current ratio 1.1 against 1.2 in 2024; short-term debt: 90.3% and cash: 0.2% of total assets), and 92.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
7.2%
Return on assets
-1.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 4867 sector peers (2025).
NBB · sector comparisonPosition among 4867 sector peers
Solvency
better than 10%
← weakest
strongest →
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 02-07-2026, 29 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
29 d early
2024
51 d early
2023
40 d early
2022
53 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€360.19M▲ 31.7%
2024 · €273.59M
2022: €18.95M
2023: €127.64M
2024: €273.59M
2022 → 2025
EBIT margin
-1.4%▼ 3.9pp
2024 · 2.5%
2022: 65.8%
2023: 5.4%
2024: 2.5%
2022 → 2025
Net result
€-3.34M
2024 · €5.36M
2022: €9.27M
2023: €3.65M
2024: €5.36M
2022 → 2025
Working capital
€18.50M▼ 30.3%
2024 · €26.53M
2022: €9.59M
2023: €15.74M
2024: €26.53M
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Turnover€18.95M-€127.64M▲ 574%€273.59M▲ 114%€360.19M▲ 31.7%
Equity€11.26M-€14.90M▲ 32.3%€19.26M▲ 29.2%€14.91M▼ 22.6%
Operating result€12.46M-€6.87M▼ 44.9%€6.72M▼ 2.1%€-5.03M
Net result€9.27M-€3.65M▼ 60.6%€5.36M▲ 47.1%€-3.34M
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5.03M after €6.72M in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €208.18M
Fixed assets
€1.69M ▲ 0.6%
Current assets
€206.49M ▲ 31.1%
Equity and liabilities €208.18M
Equity
€14.91M ▼ 22.6%
Debt
€193.27M ▲ 38.1%
Debt's share of the balance-sheet total rises from 87.9% to 92.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-5.03M▼
2024 · €6.73M
Cash flow
€-3.34M▼
2024 · €5.36M
Current ratio
1.10▼
2024 · 1.20
Quick ratio
0.63▲
2024 · 0.46
Debt to equity
12.97▲
2024 · 7.27
ROE
-22.4%▼
2024 · 27.8%
ROA
-1.6%▼
2024 · 3.4%
Interest coverage
-0.47▼
2024 · 0.98
Debt ≤ 1 year
€187.99M▲
2024 · €130.98M
Debt > 1 year
€3.74M▼
2024 · €4.53M
Income taxes
€0▼
2024 · €1.79M
Staff costs
€752k▲
2024 · €631k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 77 lines
Balance sheet
Code20242025
Assets
Total assets20/58€159.19M€208.18M▲
Formation expenses20€2k€1k▼
Fixed assets21/28€1.68M€1.69M▲
Financial fixed assets28€1.68M€1.69M▲
Affiliated companies280/1€1.68M€1.69M▲
Participating interests280€1.68M€1.69M▲
Current assets29/58€157.51M€206.49M▲
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Stocks and contracts in progress3€97.07M€87.47M▼
Stocks30/36€97.07M€87.47M▼
Goods purchased for resale34€97.07M€87.47M▼
Amounts receivable within one year40/41€53.60M€97.24M▲
Trade receivables40€46.86M€90.88M▲
Other amounts receivable41€6.74M€6.36M▼
Current investments50/53-€98k
Other investments51/53-€98k
Cash at bank and in hand54/58€18k€451k▲
Deferred charges and accrued income490/1€6.83M€21.23M▲
Equity and liabilities
Total equity and liabilities10/49€159.19M€208.18M▲
Equity10/15€19.26M€14.91M▼
Contributions10/11€5.00M€5.00M=
Reserves13€14.26M€9.91M▼
Tax-exempt reserves132€2.00M€2.00M=
Distributable reserves133€12.26M€7.91M▼
Amounts payable17/49€139.93M€193.27M▲
Amounts payable after more than one year17€4.53M€3.74M▼
Financial debts170/4€4.53M€3.74M▼
Subordinated loans170€3.00M€2.70M▼
Credit institutions173€1.53M€1.04M▼
Amounts payable within one year42/48€130.98M€187.99M▲
Current portion of amounts payable after more than one year42€466k€43.66M▲
Financial debts43€111.43M€126.52M▲
Credit institutions430/8€111.43M€126.52M▲
Other loans439€0-
Trade debts44€17.46M€16.63M▼
Suppliers440/4€17.46M€16.63M▼
Taxes, remuneration and social security45€369k€167k▼
Taxes450/3€266k€21k▼
Remuneration and social security454/9€102k€146k▲
Other amounts payable47/48€1.24M€1.01M▼
Accrued charges and deferred income492/3€4.42M€1.54M▼
Income statement
Code20242025
Operating income70/76A€273.74M€360.23M▲
Turnover70€273.59M€360.19M▲
Other operating income74€151k€44k▼
Operating charges60/66A€267.01M€365.26M▲
Goods for resale, raw materials and consumables60€262.93M€361.10M▲
Purchases600/8€291.46M€363.05M▲
Change in stocks: decrease (increase)609€-28.53M€-1.95M▲
Services and other goods61€3.45M€3.40M▼
Remuneration, social security and pensions62€631k€752k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€746€746=
Other operating charges640/8€318€12k▲
Operating profit (loss)9901€6.72M€-5.03M▼
Financial income75/76B€12.35M€36.60M▲
Recurring financial income75€12.35M€36.60M▲
Income from current assets751€8.14M€12.00M▲
Other financial income752/9€4.22M€24.60M▲
Financial charges65/66B€11.92M€34.91M▲
Recurring financial charges65€11.92M€34.91M▲
Debt charges650€6.83M€10.66M▲
Other financial charges652/9€5.09M€24.25M▲
Profit (loss) for the period before taxes9903€7.16M€-3.34M▼
Income taxes67/77€1.79M€0▼
Taxes670/3€1.79M€0▼
Profit (loss) for the period9904€5.36M€-3.34M▼
Transfer to tax-exempt reserves689€998k€0▼
Profit (loss) for the period to be appropriated9905€4.37M€-3.34M▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.37M€-3.34M▼
Transfer from equity791/2-€4.35M
From reserves792-€4.35M
Transfer to equity691/2€3.36M€0▼
To other reserves6921€3.36M€0▼
Profit to be distributed694/7€1.01M€1.01M▲
Return on contributions (dividend)694€1.00M€1.00M=
Other beneficiaries697€7k€11k▲
Social balance
Average headcount (FTE)90875.97.1▲
The notes to these accounts (52 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-3.34M ▼162%
Net result drops to €-3.34M, the lowest in the series.
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Antwerpen · 1 establishment unit since 2022
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Lange Klarenstraat 162000 AntwerpenGround area
546 m²
Building footprint
460 m²
Volume, LiDAR
6,982 m³
Parcel 11803C1437/00C000, Flanders · tallest building 19.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Steelforce Packaging
since 20222.330.956.025
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11803C1437/00C000 | Flanders | 546 m² | 1 · 460 m² | 19.0 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Antwerpen
controls
Steelforce PackagingBE 0784.889.851
Recognitions · licences · registrations
Legal Entity Identifier
699400MNQHLOH9WDPX47
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Of 732 companies in sector 46820 we hold annual accounts for 388. 161 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
46820Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:magnus.temmerman@steelforce.net
Phone:+3232241168