Summary
STELCON is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €48,186 and a net result of €45,801. Equity is shrinking by about 10% per year across the filed financial years. Its solvency ranks better than 72% of 9,737 sector peers (NACE 64, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Activities of holding companies
NACE 64210
1 site
Size
≈ €180,000turnover 2025, estimated
- Equity
- €48,186
- Profit
- €45,801
Turnover estimated from the gross margin
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Structure
2025 accounts 32 days early1 of 2 deeds summarised
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
1 signal.
neutral
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 29-06-2026, 32 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
32 days early
2024
31 days early
2023
40 days early
2022
38 days early
2021
33 days early
2020
36 days early
2019
31 days early
← 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 34 days before the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
30-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet €45,801 ▼53.7%
- Liquidity more than doubledcurrent ratio 3.71
Financials · financial year 2025, micro format
Equity
€48,186▼ 60.6%
2024 · €122,384
Net result
€45,801▼ 53.7%
2024 · €98,892
Total assets
€64,585▼ 80.6%
2024 · €332,176
Solvency
74.6%▲ 37.8pp
2024 · 36.8%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen three years in a row; 2025 is 49% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€62,239
2025
Net result€45,801
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€64,585
2025
Equity€48,186
2025
Debt€16,400
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€44,513
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)70.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency74.6%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.71
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€89,054-€84,961▼ 4.6%€59,191▼ 30.3%€97,863▲ 65.3%€157,262▲ 60.7%€147,466▼ 6.2%€121,262▼ 17.8%€62,239▼ 48.7%
Net result€69,666-€67,249▼ 3.5%€47,379within the sector's middle half▼ 29.5%€75,781above the sector's middle half▲ 59.9%€119,382above the sector's middle half▲ 57.5%€116,253above the sector's middle half▼ 2.6%€98,892above the sector's middle half▼ 14.9%€45,801within the sector's middle half▼ 53.7%
Equity€152,448-€219,697▲ 44.1%€137,076within the sector's middle half▼ 37.6%€62,857within the sector's middle half▼ 54.1%€107,239within the sector's middle half▲ 70.6%€223,492within the sector's middle half▲ 108%€122,384within the sector's middle half▼ 45.2%€48,186within the sector's middle half▼ 60.6%
Total assets€153,039-€220,038▲ 43.8%€159,472within the sector's middle half▼ 27.5%€230,110within the sector's middle half▲ 44.3%€197,555within the sector's middle half▼ 14.1%€235,400within the sector's middle half▲ 19.2%€332,176within the sector's middle half▲ 41.1%€64,585below the sector's middle half▼ 80.6%
Debt€591-€341▼ 42.3%€22,396▲ 66×€167,253▲ 647%€90,316▼ 46.0%€11,907▼ 86.8%€209,791▲ 18×€16,400▼ 92.2%
Working capital€149,042-€214,226▲ 43.7%€133,429above the sector's middle half▼ 37.7%€58,496within the sector's middle half▼ 56.2%€98,142within the sector's middle half▲ 67.8%€220,883above the sector's middle half▲ 125%€116,412within the sector's middle half▼ 47.3%€44,513within the sector's middle half▼ 61.8%
Solvency99.6%-99.8%▲ 0.2pp86.0%above the sector's middle half▼ 13.9pp27.3%within the sector's middle half▼ 58.6pp54.3%within the sector's middle half▲ 27.0pp94.9%above the sector's middle half▲ 40.7pp36.8%within the sector's middle half▼ 58.1pp74.6%within the sector's middle half▲ 37.8pp
Current ratio6.96above the sector's middle half1.35within the sector's middle half▼ 5.612.09within the sector's middle half▲ 0.7419.55above the sector's middle half▲ 17.461.55within the sector's middle half▼ 18.003.71within the sector's middle half▲ 2.16
Return on assets (ROA)45.5%-30.6%▼ 15.0pp29.7%above the sector's middle half▼ 0.9pp32.9%above the sector's middle half▲ 3.2pp60.4%above the sector's middle half▲ 27.5pp49.4%above the sector's middle half▼ 11.0pp29.8%above the sector's middle half▼ 19.6pp70.9%above the sector's middle half▲ 41.1pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64,585
Fixed assets
€3,673 ▼ 38.5%
Current assets
€60,913 ▼ 81.3%
Equity and liabilities €64,585
Equity
€48,186 ▼ 60.6%
Debt
€16,400 ▼ 92.2%
Debt's share of the balance-sheet total falls from 63.2% to 25.4%. Equity and debt are lower.
Key figures and ratios
ROE
95.1%▲
2024 · 80.8%
Debt ≤ 1 year
€16,400▼
2024 · €209,791
Income taxes
€14,198▼
2024 · €28,006
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €8,147 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,341 | €2,269 | €1,824 | €2,424 | €4,929 | €2,636 | €2,184 | €2,299 | ▲ 5.3% |
| Other operating charges640/8 | - | - | - | €1,199 | €1,681 | €1,750 | €1,322 | €1,807 | ▲ 36.7% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €7,949 | - |
| Gross operating margin9900 | €90,976 | €90,363 | €62,255 | €101,486 | €163,872 | €151,852 | €124,767 | €74,295 | ▼ 40.5% |
| Operating profit (loss)9901 | €89,054 | €84,961 | €59,191 | €97,863 | €157,262 | €147,466 | €121,262 | €62,239 | ▼ 48.7% |
| Financial income75/76B | - | - | - | - | €52 | €2,047 | €5,829 | €465 | ▼ 92.0% |
| Recurring financial income75 | €259 | €1,139 | €2,109 | - | €52 | €2,047 | €5,829 | €465 | ▼ 92.0% |
| Financial charges65/66B | - | - | - | €398 | €336 | €246 | €193 | €2,705 | ▲ 14× |
| Recurring financial charges65 | €439 | €225 | €308 | €398 | €336 | €246 | €193 | €2,705 | ▲ 14× |
| Profit (loss) for the period before taxes9903 | €88,874 | €85,875 | €60,992 | €97,465 | €156,978 | €149,267 | €126,898 | €59,999 | ▼ 52.7% |
| Income taxes67/77 | €19,208 | €18,626 | €13,613 | €21,684 | €37,596 | €33,014 | €28,006 | €14,198 | ▼ 49.3% |
| Profit (loss) for the period9904 | €69,666 | €67,249 | €47,379 | €75,781 | €119,382 | €116,253 | €98,892 | €45,801 | ▼ 53.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €168 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €69,580 | €67,081 | €47,211 | €75,949 | €119,382 | €116,253 | €98,892 | €45,801 | ▼ 53.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €153,039 | €220,038 | €159,472 | €230,110 | €197,555 | €235,400 | €332,176 | €64,585 | ▼ 80.6% |
| Fixed assets21/28 | €3,406 | €5,471 | €3,647 | €4,361 | €9,097 | €2,609 | €5,972 | €3,673 | ▼ 38.5% |
| Tangible fixed assets22/27 | €3,406 | €5,471 | €3,647 | €4,361 | €9,097 | €2,609 | €5,972 | €3,673 | ▼ 38.5% |
| Furniture and vehicles24 | - | - | - | €4,361 | €9,097 | €2,609 | €5,972 | €3,673 | ▼ 38.5% |
| Current assets29/58 | €149,633 | €214,567 | €155,825 | €225,749 | €188,458 | €232,791 | €326,203 | €60,913 | ▼ 81.3% |
| Amounts receivable within one year40/41 | €27,303 | €33,781 | €20,359 | €26,781 | €34,226 | €35,340 | €44,784 | €18,719 | ▼ 58.2% |
| Trade receivables40 | - | - | - | €26,266 | €33,085 | €31,683 | €27,934 | €17,645 | ▼ 36.8% |
| Other amounts receivable41 | - | - | - | €515 | €1,141 | €3,656 | €16,850 | €1,073 | ▼ 93.6% |
| Current investments50/53 | - | - | - | - | - | - | €200,000 | - | - |
| Cash at bank and in hand54/58 | €122,330 | €80,786 | €135,466 | €198,968 | €154,232 | €197,451 | €79,345 | €42,099 | ▼ 46.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €2,075 | €95 | ▼ 95.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €153,039 | €220,038 | €159,472 | €230,110 | €197,555 | €235,400 | €332,176 | €64,585 | ▼ 80.6% |
| Equity10/15 | €152,448 | €219,697 | €137,076 | €62,857 | €107,239 | €223,492 | €122,384 | €48,186 | ▼ 60.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,946 | €2,114 | €2,282 | €2,114 | €2,114 | €2,114 | €2,114 | €2,114 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €254 | €254 | €254 | €254 | €254 | = |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €131,902 | €198,983 | €116,194 | €42,143 | €86,525 | €202,778 | €101,670 | €27,472 | ▼ 73.0% |
| Amounts payable17/49 | €591 | €341 | €22,396 | €167,253 | €90,316 | €11,907 | €209,791 | €16,400 | ▼ 92.2% |
| Amounts payable within one year42/48 | €591 | €341 | €22,396 | €167,253 | €90,316 | €11,907 | €209,791 | €16,400 | ▼ 92.2% |
| Trade debts44 | €131 | €341 | €106 | - | €701 | €434 | €337 | €1,444 | ▲ 328% |
| Suppliers440/4 | - | - | - | - | €701 | €434 | €337 | €1,444 | ▲ 328% |
| Taxes, remuneration and social security45 | - | - | - | €17,253 | €14,615 | €11,474 | €9,454 | €8,018 | ▼ 15.2% |
| Taxes450/3 | - | - | - | €17,253 | €14,615 | €11,474 | €9,454 | €8,018 | ▼ 15.2% |
| Other amounts payable47/48 | - | - | - | €150,000 | €75,000 | - | €200,000 | €6,938 | ▼ 96.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,666 | €67,249 | €47,379 | €75,781 | €119,382 | €116,253 | €98,892 | €45,801 | ▼ 53.7% |
| + Depreciation and write-downs630 | €1,341 | €2,269 | €1,824 | €2,424 | €4,929 | €2,636 | €2,184 | €2,299 | ▲ 5.3% |
| Operating cash flow (approximation) | €71,007 | €69,518 | €49,203 | €78,205 | €124,311 | €118,889 | €101,076 | €48,101 | ▼ 52.4% |
| Investment in fixed assets (approximation) | - | -€4,334 | €0 | -€3,138 | -€9,666 | €3,853 | -€5,547 | €0 | - |
| Change in cash | - | -€41,544 | €54,680 | €63,502 | -€44,736 | €43,219 | -€118,106 | -€37,246 | ▲ 68.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00242439 |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00211791 |
| 31-12-2023 | micro format | 21-06-2024 | 2024-00156658 |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00158090 |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20148238 |
| 31-12-2020 | micro format | 25-06-2021 | 2021-24600369 |
| 31-12-2019 | micro format | 30-06-2020 | 2020-23900018 |
| 31-12-2018 | micro format | 28-06-2019 | 2019-24600530 |
| 31-12-2017 | micro format | 27-06-2018 | 2018-23600262 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,124. 10,600 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director, last change in 2023
COOSEMANS,Stephan Gaston Georgette
CurrentDirector (not named in the articles) · since 07-06-2023
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
1 of this company's 2 Belgian Official Gazette deeds has not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
1 person since 2023, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| COOSEMANS,Stephan Gaston Georgette |
|
Owners and capital
Capital and shareholders
Capital over the years
- 07-06-2023 Converted to available equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
29-06
NBB filing
Annual accounts filed
financial year 2025 · micro format
2025
31-12
Financial
Weakest financial yearnet €45,801 ▼53.7%
Net result drops to €45,801, the lowest in the series.
31-12
Financial
Liquidity more than doubledcurrent ratio 3.71
Current ratio from 1.55 to 3.71; short-term debt falls from €209,791 to €16,400.
30-06
NBB filing
Annual accounts filed
financial year 2024 · micro format
2024
21-06
NBB filing
Annual accounts filed
financial year 2023 · micro format
2023
31-12
Financial
Liquidity more than 9 timescurrent ratio 19.55
Current ratio from 2.09 to 19.55; short-term debt falls from €90,316 to €11,907.
31-12
Financial
Equity above €200,000equity €223,492 ▲108%
A profit in every financial year since 2018 builds equity to €223,492.
23-06
NBB filing
Annual accounts filed
financial year 2022 · micro format
07-06
Gazette deed
Resignation: COOSEMANS,Stephan Gaston Georgette (manager)Appointment: COOSEMANS,Stephan Gaston Georgette (director) · Amendment of the articles · Capital conversion9 facts ▸
Gazette deed
Resignation: COOSEMANS,Stephan Gaston Georgette (manager)
Appointment: COOSEMANS,Stephan Gaston Georgette (director) · Amendment of the articles · Capital conversion9 facts ▸
- General meeting, 16-05-2023
- Amendment of the articles (2 times)
- Capital conversion, “beschikbaar voor uitkering” (deed in Dutch)
- Director resignation, COOSEMANS,Stephan Gaston Georgette (manager)
- Director appointment, COOSEMANS,Stephan Gaston Georgette (director (not named in the articles))
- Other provision, “kwijting ontslagnemende zaakvoerders, algemene vergadering zal op volgende jaarvergadering beslissen over kwijting voor uitoefening mandaat” (deed in Dutch)
- Registered office clause, “8301 Knokke-Heist,Aaishove 20, gebruik maken van mogelijkheid precieze adres buiten statuten te laten” (deed in Dutch)
- Power of attorney, Michel van Tieghem de Ten Berghe
- Power of attorney
2022
31-12
Financial
Highest result from 2018 to 2025net €119,382 ▲57.5%
Operating result €157,262, net result €119,382, both a record.
31-12
Financial
Equity above €100,000equity €107,239 ▲70.6%
A profit in every financial year since 2018 builds equity to €107,239.
28-06
NBB filing
Annual accounts filed
financial year 2021 · micro format
Show earlier events
2021
25-06
NBB filing
Annual accounts filed
financial year 2020 · micro format
2020
30-06
NBB filing
Annual accounts filed
financial year 2019 · micro format
2019
31-12
Financial
Liquidity more than doubledcurrent ratio 629.23
Current ratio from 253.19 to 629.23; short-term debt falls from €591 to €341.
31-12
Financial
Equity above €200,000equity €219,697 ▲44.1%
A profit in every financial year since 2018 builds equity to €219,697.
28-06
NBB filing
Annual accounts filed
financial year 2018 · micro format
2018
27-06
NBB filing
Annual accounts filed
financial year 2017 · micro format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
1 of 2 deeds read
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded29-11-2016
Financial year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0666787106
Registered
03-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Knokke-Heist · 1 establishment unit since 2016
Ground area
571 m²
Building footprint
127 m²
Parcel 31024B0057/00E000, Flanders. Linked by address, not a title deed.
1 establishment unit
STELCON
since 2016unit no. 2.259.131.582
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31024B0057/00E000 | Flanders | 571 m² | 1 · 127 m² | - |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- STELCON
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bestuursorgaan kan waar dan ook bijkantoren,exploitatiezetels en andere centra oprichten en opheffen,zowel in België als…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, natuurlijke personen of rechtspersonen,al dan niet aandeelhouder” (deed in Dutch)“Ad nutum, algemene vergadering” (deed in Dutch)“Overeenkomstig de terzake geldende wettelijke bepalingen, vaste vertegenwoordiger” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, vruchtgebruiker en blote eigenaar afzonderlijk ingeschreven met vermelding respectievelijke rechten” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of June at 18:00