STEFACO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 23 filings
Every figure per financial year
The operating result for 2025 is 91% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €21,978 | €541 | €12,995 | €17,798 |
| Depreciation and write-downs of the year | €25,706 | €27,092 | €28,200 | €24,539 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,734 | €20,960 | €25,706 | €27,092 | €28,200 | €24,539 | ▼ 13.0% |
| Other operating charges640/8 | - | - | €12,151 | €2,452 | €11,430 | €8,819 | ▼ 22.8% |
| Gross operating margin9900 | €47,515 | €40,814 | €42,645 | €46,807 | €56,076 | €34,788 | ▼ 38.0% |
| Operating profit (loss)9901 | €28,308 | €13,017 | €4,787 | €17,263 | €16,446 | €1,430 | ▼ 91.3% |
| Financial charges65/66B | - | - | €4,500 | €4,939 | €6,312 | €9,220 | ▲ 46.1% |
| Recurring financial charges65 | €300 | €4,387 | €4,500 | €4,939 | €6,312 | €8,977 | ▲ 42.2% |
| Non-recurring financial charges66B | - | - | - | - | - | €243 | - |
| Profit (loss) for the period before taxes9903 | €28,009 | €8,630 | €287 | €12,324 | €10,134 | -€7,791 | - |
| Income taxes67/77 | €7,861 | €5,353 | €89 | €4,104 | €3,224 | - | - |
| Profit (loss) for the period9904 | €20,147 | €3,277 | €198 | €8,221 | €6,910 | -€7,791 | - |
| Profit (loss) for the period to be appropriated9905 | €20,147 | €3,277 | €198 | €8,221 | €6,910 | -€7,791 | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €223,136 | €240,119 | €241,063 | €265,378 | €244,456 | €275,071 | ▲ 12.5% |
| Fixed assets21/28 | €220,658 | €212,714 | €208,985 | €182,434 | €167,230 | €160,489 | ▼ 4.0% |
| Tangible fixed assets22/27 | €220,658 | €212,714 | €208,985 | €182,434 | €167,230 | €160,489 | ▼ 4.0% |
| Land and buildings22 | - | - | €152,191 | €139,740 | €127,289 | €114,838 | ▼ 9.8% |
| Plant, machinery and equipment23 | - | - | €56,794 | €42,694 | €39,941 | €45,651 | ▲ 14.3% |
| Current assets29/58 | €2,479 | €27,405 | €32,078 | €82,943 | €77,226 | €114,582 | ▲ 48.4% |
| Amounts receivable within one year40/41 | €1,807 | €5,500 | €2,005 | - | €4,776 | €3,500 | ▼ 26.7% |
| Trade receivables40 | - | - | €2,005 | - | - | - | - |
| Other amounts receivable41 | - | - | - | - | €4,776 | €3,500 | ▼ 26.7% |
| Cash at bank and in hand54/58 | €526 | €19,251 | €30,073 | €80,513 | €69,264 | €107,723 | ▲ 55.5% |
| Deferred charges and accrued income490/1 | - | - | - | €2,431 | €3,186 | €3,359 | ▲ 5.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €223,136 | €240,119 | €241,063 | €265,378 | €244,456 | €275,071 | ▲ 12.5% |
| Equity10/15 | €112,561 | €122,798 | €122,996 | €131,217 | €138,126 | €130,335 | ▼ 5.6% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Capital10 | - | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | - | - | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €37,561 | €47,798 | €47,996 | €56,217 | €63,126 | €63,126 | = |
| Non-distributable reserves130/1 | - | - | €2,759 | €3,219 | €3,619 | €3,619 | = |
| Legal reserve130 | - | - | €2,759 | €3,219 | €3,619 | €3,619 | = |
| Distributable reserves133 | - | - | €45,237 | €52,998 | €59,507 | €59,507 | = |
| Profit (loss) carried forward14 | - | - | - | - | - | -€7,791 | - |
| Amounts payable17/49 | €110,575 | €117,321 | €118,067 | €134,161 | €106,330 | €144,736 | ▲ 36.1% |
| Amounts payable after more than one year17 | - | - | - | €10,846 | €7,918 | €4,856 | ▼ 38.7% |
| Financial debts170/4 | - | - | - | €10,846 | €7,918 | €4,856 | ▼ 38.7% |
| Amounts payable within one year42/48 | €110,513 | €115,861 | €117,192 | €123,215 | €97,512 | €138,072 | ▲ 41.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,800 | €2,928 | €3,062 | ▲ 4.6% |
| Trade debts44 | - | €576 | €5,841 | €342 | €2,649 | €1,411 | ▼ 46.7% |
| Suppliers440/4 | - | - | €5,841 | €342 | €2,649 | €1,411 | ▼ 46.7% |
| Taxes, remuneration and social security45 | - | - | €1,403 | €5,437 | €1,691 | €2,495 | ▲ 47.5% |
| Taxes450/3 | - | - | €1,403 | €5,437 | €1,691 | €2,495 | ▲ 47.5% |
| Other amounts payable47/48 | - | - | €109,948 | €114,636 | €90,244 | €131,104 | ▲ 45.3% |
| Accrued charges and deferred income492/3 | - | - | €875 | €100 | €900 | €1,807 | ▲ 101% |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,147 | €3,277 | €198 | €8,221 | €6,910 | -€7,791 | - |
| + Depreciation and write-downs630 | €18,734 | €20,960 | €25,706 | €27,092 | €28,200 | €24,539 | ▼ 13.0% |
| Operating cash flow (approximation) | €38,881 | €24,237 | €25,904 | €35,312 | €35,109 | €16,748 | ▼ 52.3% |
| Investment in fixed assets (approximation) | - | - | -€21,978 | -€541 | -€12,995 | -€17,798 | ▼ 37.0% |
| Change in cash | - | - | €10,822 | €50,439 | -€11,248 | €38,459 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as STEFACO has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of STEFACO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for STEFACO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00022080 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00018825 | |
| 30-06-2023 | micro format | 29-12-2023 | 2023-00539254 | |
| 30-06-2022 | micro format | 27-01-2023 | 2023-00006004 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-04000575 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-04200417 | |
| 30-06-2018 | micro format | 30-01-2019 | 2019-03300409 | |
| 30-06-2017 | micro format | 29-12-2017 | 2017-73600552 | |
| 30-06-2016 | abbreviated format | 29-12-2016 | 2016-72100337 | |
| 30-06-2015 | abbreviated format | 29-12-2015 | 2015-70900314 |