STELAS
Open bankruptcyA bankruptcy procedure is open for STELAS according to publications in the Belgian State Gazette; curator: JEAN-MICHEL DERICK.
Summary
The file additionally contains 2 judicial reorganisation notices. The 2024 annual accounts show negative equity (€-281k) and a net result of €-116k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
192021222324
2019 to 2024 · latest year €-281k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-06-2025, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
57 d early
2022
62 d early
2021
138 d late
2020
90 d late
2019
124 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-116k▼ 128%
2023 · €-51k
2019: €-10k
2020: €16k▲ +271% vs 2019highest in 6 years
2021: €9k▼ -44.8% vs 2020
2022: €-64k▼ -812% vs 2021
2023: €-51k▲ +20.9% vs 2022
2024: €-116k▼ -128% vs 2023lowest in 6 years
2019 → 2024
Working capital
€-333k▼ 46.7%
2023 · €-227k
2019: €-75k
2020: €-60k▲ +19.6% vs 2019highest in 6 years
2021: €-61k▼ -0.9% vs 2020
2022: €-168k▼ -176% vs 2021
2023: €-227k▼ -35.2% vs 2022
2024: €-333k▼ -46.7% vs 2023lowest in 6 years
2019 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-59k-€-50k▲ 15.4%€-114k▼ 130%€-165k▼ 44.7%€-281k▼ 70.4%
2020: €-59k
2021: €-50k▲ +15.4% vs 2020highest in 5 years
2022: €-114k▼ -130% vs 2021
2023: €-165k▼ -44.7% vs 2022
2024: €-281k▼ -70.4% vs 2023lowest in 5 years
Operating result€18k-€14k▼ 23.7%€-56k€-34k▲ 39.1%€-96k▼ 181%
2020: €18khighest in 5 years
2021: €14k▼ -23.7% vs 2020
2022: €-56k▼ -511% vs 2021
2023: €-34k▲ +39.1% vs 2022
2024: €-96k▼ -181% vs 2023lowest in 5 years
Net result€16k-€9k▼ 44.8%€-64k€-51k▲ 20.9%€-116k▼ 128%
2020: €16khighest in 5 years
2021: €9k▼ -44.8% vs 2020
2022: €-64k▼ -812% vs 2021
2023: €-51k▲ +20.9% vs 2022
2024: €-116k▼ -128% vs 2023lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €96k in 2024 against €34k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €129k
Fixed assets
€52k ▼ 16.2%
Current assets
€77k ▼ 18.8%
Key figures and ratios
EBITDA
€-80k▼
2023 · €-19k
Cash flow
€-100k▼
2023 · €-36k
Solvency
-217.4%▼
2023 · -104.9%
Current ratio
0.19▼
2023 · 0.30
Quick ratio
0.13▼
2023 · 0.21
Debt to equity
-1.46▲
2023 · -1.95
ROA
-89.8%▼
2023 · -32.4%
Interest coverage
-3.94▼
2023 · -1.14
Debt
€410k▲
2023 · €322k
Debt ≤ 1 year
€410k▲
2023 · €322k
Staff costs
€330k▼
2023 · €426k
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 · 2024 against 2023 · 45 lines
Balance sheet
Code20232024
Assets
Total assets20/58€157k€129k▼
Fixed assets21/28€62k€52k▼
Tangible fixed assets22/27€62k€52k▼
Land and buildings22€53k€42k▼
Plant, machinery and equipment23€7k€10k▲
Furniture and vehicles24€1k€221▼
Current assets29/58€95k€77k▼
Stocks and contracts in progress3€28k€22k▼
Stocks30/36€28k€22k▼
Amounts receivable within one year40/41€25k€24k▼
Trade receivables40€6k€5k▼
Other amounts receivable41€19k€18k▼
Cash at bank and in hand54/58€34k€26k▼
Deferred charges and accrued income490/1€8k€5k▼
Equity and liabilities
Total equity and liabilities10/49€157k€129k▼
Equity10/15€-165k€-281k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-185k€-301k▼
Amounts payable17/49€322k€410k▲
Amounts payable within one year42/48€322k€410k▲
Current portion of amounts payable after more than one year42€30k€19k▼
Trade debts44€54k€156k▲
Suppliers440/4€54k€156k▲
Taxes, remuneration and social security45€233k€235k▲
Taxes450/3€100k€103k▲
Remuneration and social security454/9€133k€132k▼
Other amounts payable47/48€5k-
Income statement
Code20232024
Remuneration, social security and pensions62€426k€330k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€16k▲
Other operating charges640/8€20k€22k▲
Gross operating margin9900€427k€271k▼
Operating profit (loss)9901€-34k€-96k▼
Financial income75/76B-€15
Recurring financial income75-€15
Financial charges65/66B€17k€20k▲
Recurring financial charges65€17k€20k▲
Profit (loss) for the period before taxes9903€-51k€-116k▼
Profit (loss) for the period9904€-51k€-116k▼
Profit (loss) for the period to be appropriated9905€-51k€-116k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-185k€-301k▼
Profit (loss) brought forward from the previous period14P€-134k€-185k▼
Social balance
Average headcount (FTE)908712.812.9▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €195k | €388k | €426k | €330k | ▼ 22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €138 | €1k | €8k | €15k | €16k | ▲ 4.8% |
| Other operating charges640/8 | - | €2k | €13k | €20k | €22k | ▲ 5.9% |
| Gross operating margin9900 | €142k | €212k | €352k | €427k | €271k | ▼ 36.4% |
| Operating profit (loss)9901 | €18k | €14k | €-56k | €-34k | €-96k | ▼ 181% |
| Financial income75/76B | - | €149 | €12 | - | €15 | - |
| Recurring financial income75 | €35 | €149 | €12 | - | €15 | - |
| Financial charges65/66B | - | €5k | €8k | €17k | €20k | ▲ 20.6% |
| Recurring financial charges65 | €2k | €5k | €8k | €17k | €20k | ▲ 20.6% |
| Profit (loss) for the period before taxes9903 | €16k | €9k | €-64k | €-51k | €-116k | ▼ 128% |
| Profit (loss) for the period9904 | €16k | €9k | €-64k | €-51k | €-116k | ▼ 128% |
| Profit (loss) for the period to be appropriated9905 | €16k | €9k | €-64k | €-51k | €-116k | ▼ 128% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €80k | €126k | €187k | €157k | €129k | ▼ 17.8% |
| Fixed assets21/28 | €2k | €11k | €54k | €62k | €52k | ▼ 16.2% |
| Tangible fixed assets22/27 | €2k | €11k | €54k | €62k | €52k | ▼ 16.2% |
| Land and buildings22 | - | €6k | €43k | €53k | €42k | ▼ 21.3% |
| Plant, machinery and equipment23 | - | €714 | €7k | €7k | €10k | ▲ 36.3% |
| Furniture and vehicles24 | - | €5k | €3k | €1k | €221 | ▼ 84.7% |
| Current assets29/58 | €79k | €115k | €133k | €95k | €77k | ▼ 18.8% |
| Stocks and contracts in progress3 | €11k | €19k | €27k | €28k | €22k | ▼ 19.8% |
| Stocks30/36 | - | €19k | €27k | €28k | €22k | ▼ 19.8% |
| Amounts receivable within one year40/41 | €35k | €41k | €51k | €25k | €24k | ▼ 4.0% |
| Trade receivables40 | - | €23k | €32k | €6k | €5k | ▼ 12.3% |
| Other amounts receivable41 | - | €18k | €19k | €19k | €18k | ▼ 1.3% |
| Cash at bank and in hand54/58 | €21k | €53k | €53k | €34k | €26k | ▼ 23.9% |
| Deferred charges and accrued income490/1 | - | €3k | €1k | €8k | €5k | ▼ 38.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €80k | €126k | €187k | €157k | €129k | ▼ 17.8% |
| Equity10/15 | €-59k | €-50k | €-114k | €-165k | €-281k | ▼ 70.4% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €-79k | €-70k | €-134k | €-185k | €-301k | ▼ 62.6% |
| Amounts payable17/49 | €139k | €176k | €300k | €322k | €410k | ▲ 27.4% |
| Amounts payable within one year42/48 | €139k | €176k | €300k | €322k | €410k | ▲ 27.4% |
| Current portion of amounts payable after more than one year42 | - | €58k | €57k | €30k | €19k | ▼ 35.5% |
| Trade debts44 | €18k | €39k | €61k | €54k | €156k | ▲ 191% |
| Suppliers440/4 | - | €39k | €61k | €54k | €156k | ▲ 191% |
| Taxes, remuneration and social security45 | - | €71k | €179k | €233k | €235k | ▲ 0.5% |
| Taxes450/3 | - | €19k | €53k | €100k | €103k | ▲ 2.3% |
| Remuneration and social security454/9 | - | €53k | €126k | €133k | €132k | ▼ 0.8% |
| Other amounts payable47/48 | - | €8k | €5k | €5k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €9k | €-64k | €-51k | €-116k | ▼ 128% |
| + Depreciation and write-downs630 | €138 | €1k | €8k | €15k | €16k | ▲ 4.8% |
| Operating cash flow (approximation) | €17k | €10k | €-56k | €-36k | €-100k | ▼ 179% |
| Investment in fixed assets (approximation) | - | €-11k | €-51k | €-23k | €-6k | ▲ 75.5% |
| Change in cash | - | €32k | €-23 | €-19k | €-8k | ▲ 56.3% |
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
2026
18-05
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 11-05-2026
2025
20-11
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise francophone de Bruxelles · event 12-11-2025
12-08
Judicial reorganisation
Opening
Tribunal de l’entreprise francophone de Bruxelles · collective agreement · event 29-07-2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-116k
Net result drops to €-116k, the lowest in the series.
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
16-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 138 days late
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 90 days late
2020
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
02-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 124 days late
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 315 days late
Show earlier events
2017
19-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 80 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 61 days late
SignalFinancial 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, Ukkel · 1 establishment unit since 2020
Ground area
1,192 m²
Building footprint
474 m²
Volume, LiDAR
4,449 m³
2 parcels, Brussels, Flanders · tallest building 17.1 m, ±3 floors. Linked by address, not a title deed.
343
companies at this address
See who is registered here
1 establishment unit
RESTAURANT KZEG A MODA
since 20202.307.575.065
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22001B0131/00M002 | Flanders | 846 m² | 1 · 146 m² | 12.3 m · 3 fl. |
| 21616A0121/00Y002 | Brussels | 347 m² | 1 · 329 m² | 17.1 m · 2 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JEAN-MICHEL DERICK AVENUE LOUISE 391 BTE 3,
1050 FR BRUXELLES 5 |
11-05-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteDrogenbos2.307.575.065
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 2,520 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded17-12-1993
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56210Event catering
Contact
E-mail
info@kzegamoda.beDrogenbos
Scores and ratios are computed by Checked and are not a credit decision.