STELIEFORM
ActiveSummary
STELIEFORM has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€590,966) and a net result of -€212,403. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 304 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability24▲+10
Solvency8▼-7
Growth58=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.57 against 0.65 in 2023; short-term debt: 55.8% and cash: 0.1% of total assets), and equity is negative.
Credit check for your own amount and term
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
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 2024Solvency, return and age of the figures
Solvency
-17.3%
Return on assets
-6.2%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€590,966
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 19-07-2025, 12 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
12 d early
2023
10 d early
2022
75 d early
2021
9 d early
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#5 company by staff growth in West Flanders, Furniture sector#6 employer in Gistel, Manufacturing sector
Equity
-€590,966▼ 56.1%
2023 · -€378,563
Total assets
€3.4m▼ 9.7%
2023 · €3.8m
Net result
-€212,403▲ 35.8%
2023 · -€331,035
Working capital
-€827,467▼ 26.9%
2023 · -€652,187
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 31, Manufacture of furniture, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€198,929▲ 44.3%€87,278€125,974▲ 44.3%-€217,821-€62,061▲ 71.5%
Net result-€274,606below the sector's middle half▲ 35.2%-€20,090below the sector's middle half▲ 92.7%€39,064within the sector's middle half-€331,035below the sector's middle half-€212,403below the sector's middle half▲ 35.8%
Equity-€66,502below the sector's middle half▲ 77.2%-€86,592below the sector's middle half▼ 30.2%-€47,528below the sector's middle half▲ 45.1%-€378,563below the sector's middle half▼ 697%-€590,966below the sector's middle half▼ 56.1%
Total assets€3.8mabove the sector's middle half▼ 3.5%€3.7mabove the sector's middle half▼ 2.7%€3.9mabove the sector's middle half▲ 5.4%€3.8mabove the sector's middle half▼ 2.2%€3.4mabove the sector's middle half▼ 9.7%
Debt€3.8m▼ 8.6%€3.8m▼ 2.2%€3.9m▲ 4.3%€4.2m▲ 6.3%€4.0m▼ 3.7%
Working capital-€328,969below the sector's middle half▼ 93.6%-€202,573below the sector's middle half▲ 38.4%-€259,104below the sector's middle half▼ 27.9%-€652,187below the sector's middle half▼ 152%-€827,467below the sector's middle half▼ 26.9%
Solvency-1.8%below the sector's middle half▲ 5.7pp-2.4%below the sector's middle half▼ 0.6pp-1.2%below the sector's middle half▲ 1.1pp-10.0%below the sector's middle half▼ 8.8pp-17.3%below the sector's middle half▼ 7.3pp
Current ratio0.72below the sector's middle half▼ 0.100.83below the sector's middle half▲ 0.100.82below the sector's middle half▼ 0.010.65below the sector's middle half▼ 0.170.57below the sector's middle half▼ 0.09
Return on assets (ROA)-7.3%below the sector's middle half▲ 3.6pp-0.5%below the sector's middle half▲ 6.7pp1.0%within the sector's middle half▲ 1.6pp-8.8%below the sector's middle half▼ 9.8pp-6.2%below the sector's middle half▲ 2.5pp
Staff (FTE)18.6above the sector's middle half▲ 10.7%23.1above the sector's middle half▲ 24.2%24.6above the sector's middle half▲ 6.5%27.9above the sector's middle half▲ 13.4%26.2above the sector's middle half▼ 6.1%
above
within
below
the middle half (P25 to P75) of NACE 31, Manufacture of furniture, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €62,061 in 2024 against €217,821 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.4m
Fixed assets
€2.3m ▼ 8.4%
Current assets
€1.1m ▼ 12.3%
Equity and liabilities
Equity-€590,966
Debt€4.0m
Equity is negative: debt (€4.0m) exceeds the balance-sheet total (€3.4m).
Key figures and ratios
EBITDA
€239,790▲
2023 · €83,813
Cash flow
€89,448▲
2023 · -€29,401
Quick ratio
0.24▼
2023 · 0.26
Interest coverage
1.62▲
2023 · 0.75
Debt ≤ 1 year
€1.9m▲
2023 · €1.9m
Debt > 1 year
€2.1m▼
2023 · €2.3m
Income taxes
€2,608▲
2023 · €1,339
Staff costs
€1.4m▲
2023 · €1.4m
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,216 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- negative equity
- a small loss
1.2%
went bankrupt
2.6%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 1,216 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,000 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €1.2m | €1.2m | €1.4m | €1.4m | ▲ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €312,903 | €298,177 | €322,557 | €301,634 | €301,851 | ▲ 0.1% |
| Other operating charges640/8 | - | €22,625 | €21,583 | €22,966 | €23,299 | ▲ 1.5% |
| Non-recurring operating charges66A | - | - | - | - | €13,193 | - |
| Gross operating margin9900 | €983,084 | €1.6m | €1.7m | €1.5m | €1.7m | ▲ 14.0% |
| Operating profit (loss)9901 | -€198,929 | €87,278 | €125,974 | -€217,821 | -€62,061 | ▲ 71.5% |
| Financial income75/76B | - | €451 | €473 | €520 | €597 | ▲ 15.0% |
| Recurring financial income75 | €1,127 | €451 | €473 | €520 | €597 | ▲ 15.0% |
| Financial charges65/66B | - | €102,594 | €86,106 | €112,394 | €148,332 | ▲ 32.0% |
| Recurring financial charges65 | €75,193 | €102,594 | €86,106 | €112,394 | €148,332 | ▲ 32.0% |
| Profit (loss) for the period before taxes9903 | -€272,994 | -€14,865 | €40,342 | -€329,696 | -€209,795 | ▲ 36.4% |
| Income taxes67/77 | €1,612 | €5,225 | €1,277 | €1,339 | €2,608 | ▲ 94.7% |
| Profit (loss) for the period9904 | -€274,606 | -€20,090 | €39,064 | -€331,035 | -€212,403 | ▲ 35.8% |
| Transfer from tax-exempt reserves789 | - | €37,500 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€274,606 | €17,410 | €39,064 | -€331,035 | -€212,403 | ▲ 35.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.8m | €3.7m | €3.9m | €3.8m | €3.4m | ▼ 9.7% |
| Fixed assets21/28 | €2.9m | €2.7m | €2.7m | €2.6m | €2.3m | ▼ 8.4% |
| Intangible fixed assets21 | €5,152 | €10,971 | €43,860 | €33,582 | €23,310 | ▼ 30.6% |
| Tangible fixed assets22/27 | €2.9m | €2.7m | €2.6m | €2.5m | €2.3m | ▼ 8.2% |
| Land and buildings22 | - | €2.3m | €2.2m | €2.1m | €2.0m | ▼ 6.2% |
| Plant, machinery and equipment23 | - | €298,290 | €402,830 | €321,585 | €252,467 | ▼ 21.5% |
| Furniture and vehicles24 | - | €42,646 | €42,068 | €76,506 | €77,179 | ▲ 0.9% |
| Leasing and similar rights25 | - | €18,300 | €0 | €30,374 | €23,198 | ▼ 23.6% |
| Financial fixed assets28 | €700 | €700 | €700 | €6,700 | €6,700 | = |
| Current assets29/58 | €866,833 | €984,047 | €1.2m | €1.2m | €1.1m | ▼ 12.3% |
| Stocks and contracts in progress3 | €339,157 | €468,872 | €679,255 | €737,926 | €621,402 | ▼ 15.8% |
| Stocks30/36 | - | €425,601 | €632,752 | €697,757 | €541,202 | ▼ 22.4% |
| Contracts in progress37 | - | €43,271 | €46,503 | €40,169 | €80,201 | ▲ 99.7% |
| Amounts receivable within one year40/41 | €377,118 | €406,485 | €411,999 | €393,548 | €335,942 | ▼ 14.6% |
| Trade receivables40 | - | €405,338 | €410,747 | €392,419 | €334,854 | ▼ 14.7% |
| Other amounts receivable41 | - | €1,148 | €1,252 | €1,128 | €1,088 | ▼ 3.6% |
| Cash at bank and in hand54/58 | €49,378 | €16,885 | €4,197 | €6,153 | €3,438 | ▼ 44.1% |
| Deferred charges and accrued income490/1 | - | €91,805 | €90,038 | €93,111 | €118,049 | ▲ 26.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.8m | €3.7m | €3.9m | €3.8m | €3.4m | ▼ 9.7% |
| Equity10/15 | -€66,502 | -€86,592 | -€47,528 | -€378,563 | -€590,966 | ▼ 56.1% |
| Contributions10/11 | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €37,500 | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €0 | - | - | - | - |
| Profit (loss) carried forward14 | -€1.1m | -€1.1m | -€1.0m | -€1.4m | -€1.6m | ▼ 15.4% |
| Amounts payable17/49 | €3.8m | €3.8m | €3.9m | €4.2m | €4.0m | ▼ 3.7% |
| Amounts payable after more than one year17 | €2.6m | €2.6m | €2.4m | €2.3m | €2.1m | ▼ 7.2% |
| Financial debts170/4 | - | €2.4m | €2.3m | €2.1m | €1.9m | ▼ 7.7% |
| Other amounts payable178/9 | - | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Amounts payable within one year42/48 | €1.2m | €1.2m | €1.4m | €1.9m | €1.9m | ▲ 1.2% |
| Current portion of amounts payable after more than one year42 | - | €211,176 | €223,230 | €246,893 | €213,139 | ▼ 13.7% |
| Financial debts43 | - | €431,847 | €439,076 | €540,508 | €689,961 | ▲ 27.7% |
| Credit institutions430/8 | - | €431,847 | €439,076 | €540,508 | €689,961 | ▲ 27.7% |
| Trade debts44 | €222,630 | €254,929 | €320,210 | €383,142 | €232,655 | ▼ 39.3% |
| Suppliers440/4 | - | €254,929 | €320,210 | €383,142 | €232,655 | ▼ 39.3% |
| Advances received on contracts in progress46 | - | - | €179,361 | €198,598 | €212,887 | ▲ 7.2% |
| Taxes, remuneration and social security45 | - | €276,640 | €219,622 | €450,521 | €451,640 | ▲ 0.2% |
| Taxes450/3 | - | €100,256 | €44,208 | €144,642 | €177,634 | ▲ 22.8% |
| Remuneration and social security454/9 | - | €176,384 | €175,415 | €305,879 | €274,006 | ▼ 10.4% |
| Other amounts payable47/48 | - | €12,028 | €63,094 | €63,263 | €106,015 | ▲ 67.6% |
| Accrued charges and deferred income492/3 | - | €15,179 | €19,077 | €20,463 | €5,668 | ▼ 72.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€274,606 | -€20,090 | €39,064 | -€331,035 | -€212,403 | ▲ 35.8% |
| + Depreciation and write-downs630 | €312,903 | €298,177 | €322,557 | €301,634 | €301,851 | ▲ 0.1% |
| Operating cash flow (approximation) | €38,297 | €278,087 | €361,621 | -€29,401 | €89,448 | ▲ 404% |
| Investment in fixed assets (approximation) | - | -€78,150 | -€320,726 | -€172,716 | -€86,829 | ▲ 49.7% |
| Change in cash | - | -€32,493 | -€12,688 | €1,956 | -€2,715 | ▼ 239% |
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
13-05
State Gazette act
Capital & shares · Statutes amendmentAuditor report · Declaration · Capital increase8 facts ▸
State Gazette act
Capital & shares · Statutes amendment
Auditor report · Declaration · Capital increase8 facts ▸
- General meeting, 30-03-2026
- Other statement, reading of board report, verhoging van het eigen vermogen door inbreng in natura van onroerende goederen
- Auditor report, geen wezenlijke invloed, bedrijfsrevisor
- Declaration, shareholder acknowledgment, kennis van de verslagen, kopie gekregen, geen opmerkingen, geen voorbehoud, instemming met de besluiten
- Statutes amendment, 5
- Board meeting, uitvoering van de beslissingen, machtiging bestuurder
- Capital increase, €1.753.845
- Capital
2025
19-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
21-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
17-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €39,064
Net result €39,064 after 4 loss-making years.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Weakest financial yearnet -€423,791
Net result drops to -€423,791, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
18-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 18 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
No directors read yet: 1 of 9 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Gistel · 1 establishment unit since 2010
Ground area
9,234 m²
Building footprint
4,397 m²
Volume, LiDAR
23,295 m³
Parcel 35005D0430/00B000, Flanders · tallest building 16.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
STELIEFORM
since 20102.189.001.275
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35005D0430/00B000 | Flanders | 9,234 m² | 1 · 4,397 m² | 16.0 m · 3 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.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Capital and shareholders
Shareholders according to the acts
After the capital increase
act of 13-05-2026 ↗
- VAN MASSENHOVE Steven 8,471 shares · in kind
- VAN MASSENHOVE Lieven 8,471 shares · in kind
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 13-05-2026 Capital increase of 1,753,845 EUR · 16,942 new shares · in kind
Subsidies and aid
Flemish government
2022 to 2023 · 3 entries · 30,501 EUR awarded · 30,501 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 500 EUR | 500 EUR |
| 2022 | 2 | 30,001 EUR | 30,001 EUR |
Recognitions · licences · registrations
Dual-learning approval
6 endedMachinaal houtbewerker (so)
Machinaal houtbewerker duaal (so)
Medewerker hout duaal (so)
Meubelmaker (so)
Operator CNC-gestuurde houtbewerkingsmachines duaal (so)
Werkplaatsbinnenschrijnwerker hout (so)
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Company details
Identification
Legal formPrivate limited company
Founded09-06-2010
Fiscal year end31-12
Activities, NACEBEL 2025
31004Manufacture of dining room, living room, bedroom and bathroom furniture
31009Manufacture of furniture
74130Interior design
E-invoicing
Reachable via Peppol
Peppol ID
0208:0826575602
Also
9925:BE0826575602
Registered
20-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.