STEFARO
ActiveSummary
STEFARO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31,433 and a net result of -€12,823. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 25% of 12788 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability5▼-32
Solvency51=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.37 against 1.45 in 2024; short-term debt: 72% of total assets), and 73.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
26.5%
Return on assets
-10.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 12788 sector peers (2025).
NBB · sector comparisonPosition among 12788 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
27 d late
2024
27 d late
2023
61 d late
2022
71 d late
2021
85 d late
2020
88 d late
2019
136 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 71 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€31,433▼ 29.0%
2024 · €44,255
Total assets
€118,642▼ 30.3%
2024 · €170,293
Net result
-€12,823
2024 · €2,398
Working capital
€31,792▼ 39.8%
2024 · €52,816
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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€49,567▲ 169%€7,358▼ 85.2%-€18,769€13,091-€7,998
Net result€17,233within the sector's middle half▲ 111%-€3,572below the sector's middle half-€25,443below the sector's middle half▼ 612%€2,398below the sector's middle half-€12,823below the sector's middle half
Equity€70,872within the sector's middle half▲ 32.1%€67,300within the sector's middle half▼ 5.0%€41,857within the sector's middle half▼ 37.8%€44,255within the sector's middle half▲ 5.7%€31,433within the sector's middle half▼ 29.0%
Total assets€296,957within the sector's middle half▲ 38.8%€316,810within the sector's middle half▲ 6.7%€232,077within the sector's middle half▼ 26.7%€170,293within the sector's middle half▼ 26.6%€118,642within the sector's middle half▼ 30.3%
Debt€226,086▲ 41.1%€249,510▲ 10.4%€190,220▼ 23.8%€126,038▼ 33.7%€87,209▼ 30.8%
Working capital€75,840▲ 28.3%€101,188▲ 33.4%€61,340▼ 39.4%€52,816▼ 13.9%€31,792▼ 39.8%
Solvency23.9%below the sector's middle half▼ 1.2pp21.2%below the sector's middle half▼ 2.6pp18.0%below the sector's middle half▼ 3.2pp26.0%below the sector's middle half▲ 8.0pp26.5%below the sector's middle half▲ 0.5pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €7,998 after €13,091 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €118,642
Fixed assets
€1,392 ▲ 128%
Current assets
€117,250 ▼ 30.9%
Equity and liabilities €118,642
Equity
€31,433 ▼ 29.0%
Debt
€87,209 ▼ 30.8%
Debt's share of the balance-sheet total falls from 74.0% to 73.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€7,731▼
2024 · €13,525
Cash flow
-€12,555▼
2024 · €2,832
Current ratio
1.37▼
2024 · 1.45
Debt to equity
2.77▼
2024 · 2.85
ROE
-40.8%▼
2024 · 5.4%
ROA
-10.8%▼
2024 · 1.4%
Interest coverage
-2.01▼
2024 · 1.99
Debt ≤ 1 year
€85,458▼
2024 · €116,867
Debt > 1 year
€1,351▼
2024 · €9,171
Income taxes
€981▼
2024 · €3,882
Staff costs
€1,660▼
2024 · €16,375
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,136 companies that looked in July 2024 the way this one looks now, 5.9% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
5.9%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 1.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 1,136 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 | - | €564 | - | - | - | - |
| Remuneration, social security and pensions62 | €6,035 | €6,727 | €6,487 | €16,375 | €1,660 | ▼ 89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,933 | €6,212 | €583 | €434 | €267 | ▼ 38.3% |
| Other operating charges640/8 | €1,393 | €1,420 | €3,489 | €2,605 | €3,134 | ▲ 20.3% |
| Non-recurring operating charges66A | - | - | €9,500 | €2,068 | - | - |
| Gross operating margin9900 | €62,928 | €21,717 | €1,290 | €34,573 | -€2,936 | ▼ 108% |
| Operating profit (loss)9901 | €49,567 | €7,358 | -€18,769 | €13,091 | -€7,998 | ▼ 161% |
| Financial charges65/66B | €8,048 | €6,529 | €6,439 | €6,811 | €3,844 | ▼ 43.6% |
| Recurring financial charges65 | €8,048 | €6,529 | €6,439 | €6,811 | €3,844 | ▼ 43.6% |
| Profit (loss) for the period before taxes9903 | €41,519 | €830 | -€25,208 | €6,280 | -€11,842 | ▼ 289% |
| Income taxes67/77 | €24,287 | €4,401 | €235 | €3,882 | €981 | ▼ 74.7% |
| Profit (loss) for the period9904 | €17,233 | -€3,572 | -€25,443 | €2,398 | -€12,823 | ▼ 635% |
| Profit (loss) for the period to be appropriated9905 | €17,233 | -€3,572 | -€25,443 | €2,398 | -€12,823 | ▼ 635% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €296,957 | €316,810 | €232,077 | €170,293 | €118,642 | ▼ 30.3% |
| Fixed assets21/28 | €6,538 | €1,627 | €1,043 | €610 | €1,392 | ▲ 128% |
| Tangible fixed assets22/27 | €6,020 | €1,109 | €526 | €92 | €875 | ▲ 846% |
| Furniture and vehicles24 | €6,020 | €1,109 | €526 | €92 | €875 | ▲ 846% |
| Financial fixed assets28 | €517 | €517 | €517 | €517 | €517 | = |
| Current assets29/58 | €290,420 | €315,184 | €231,034 | €169,683 | €117,250 | ▼ 30.9% |
| Amounts receivable within one year40/41 | €277,451 | €285,947 | €211,236 | €148,350 | €97,697 | ▼ 34.1% |
| Trade receivables40 | €92,525 | €74,177 | €67,447 | €49,423 | €27,480 | ▼ 44.4% |
| Other amounts receivable41 | €184,926 | €211,770 | €143,789 | €98,927 | €70,216 | ▼ 29.0% |
| Cash at bank and in hand54/58 | €12,359 | €14,001 | €713 | €3,909 | - | - |
| Deferred charges and accrued income490/1 | €609 | €15,236 | €19,085 | €17,424 | €19,553 | ▲ 12.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €296,957 | €316,810 | €232,077 | €170,293 | €118,642 | ▼ 30.3% |
| Equity10/15 | €70,872 | €67,300 | €41,857 | €44,255 | €31,433 | ▼ 29.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Outside capital11 | €6,200 | €6,200 | €6,200 | - | - | - |
| Other1109/19 | €6,200 | €6,200 | €6,200 | - | - | - |
| Reserves13 | €19,093 | €19,093 | €19,093 | €19,093 | €19,093 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €17,233 | €17,233 | €17,233 | €17,233 | €17,233 | = |
| Profit (loss) carried forward14 | €45,579 | €42,007 | €16,565 | €18,963 | €6,140 | ▼ 67.6% |
| Amounts payable17/49 | €226,086 | €249,510 | €190,220 | €126,038 | €87,209 | ▼ 30.8% |
| Amounts payable after more than one year17 | €11,506 | €35,514 | €20,526 | €9,171 | €1,351 | ▼ 85.3% |
| Financial debts170/4 | €11,506 | €35,514 | €20,526 | €9,171 | €1,351 | ▼ 85.3% |
| Amounts payable within one year42/48 | €214,580 | €213,996 | €169,694 | €116,867 | €85,458 | ▼ 26.9% |
| Current portion of amounts payable after more than one year42 | €31,849 | €20,148 | €7,962 | €7,346 | €7,819 | ▲ 6.5% |
| Financial debts43 | - | - | - | - | €5,828 | - |
| Credit institutions430/8 | - | - | - | - | €5,828 | - |
| Trade debts44 | €8,166 | €194 | €6,021 | €3,901 | €27,597 | ▲ 607% |
| Suppliers440/4 | €8,166 | €194 | €6,021 | €3,901 | €27,597 | ▲ 607% |
| Taxes, remuneration and social security45 | €70,189 | €40,546 | €29,936 | €13,952 | €19,448 | ▲ 39.4% |
| Taxes450/3 | €69,138 | €39,681 | €25,749 | €11,674 | €19,448 | ▲ 66.6% |
| Remuneration and social security454/9 | €1,051 | €865 | €4,187 | €2,278 | - | - |
| Other amounts payable47/48 | €104,376 | €153,108 | €125,776 | €91,669 | €24,766 | ▼ 73.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €400 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,233 | -€3,572 | -€25,443 | €2,398 | -€12,823 | ▼ 635% |
| + Depreciation and write-downs630 | €5,933 | €6,212 | €583 | €434 | €267 | ▼ 38.3% |
| Operating cash flow (approximation) | €23,166 | €2,640 | -€24,859 | €2,832 | -€12,555 | ▼ 543% |
| Investment in fixed assets (approximation) | - | -€1,301 | €0 | €0 | -€1,050 | - |
| Change in cash | - | €1,641 | -€13,288 | €3,196 | - | - |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Back to profitnet €2,398
Net result €2,398 after 2 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet -€25,443
Net result drops to -€25,443, the lowest in the series; recovery starts the following year.
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 71 days late
2022
24-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 85 days late
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 88 days late
2020
14-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 136 days late
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 181 days late
2019
31-12
Financial
Highest result since 2018net €25,069 ▲33.4%
Net result €25,069, the highest in the series.
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 178 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Namur · 1 establishment unit since 2017
Ground area
2,434 m²
Building footprint
217 m²
Volume, LiDAR
1,445 m³
Parcel 92135B0531/00N002, Wallonia · tallest building 17.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Fonds des Chênes(WP) 273, 5100 Namur
since 20172.262.633.480
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92135B0531/00N002 | Wallonia | 2,434 m² | 1 · 217 m² | 16.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,019 companies in sector 69103 we hold annual accounts for 611. 349 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
69103Activities of bailiffs
E-invoicing
Reachable via Peppol
Peppol ID
0208:0670737380
Also
9925:BE0670737380
Registered
20-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.