STEMA
ActiveSummary
STEMA has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39,949 and a net result of -€16,298. Equity is shrinking by ~16.3% per year across the filed fiscal years. Its solvency ranks better than 78% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-41
Solvency95▲+17
Growth22=
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 3.31 against 2.11 in 2024; short-term debt: 30.2% and cash: 61.2% of total assets), and 30.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
69.8%
Return on assets
-28.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€16,298
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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 · 5 filingsDeviation from the deadline
2025
29 d late
2024
29 d late
2023
90 d late
2022
61 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€29,923▲ 43.4%
2024 · €20,864
EBIT margin
-47.7%▼ 52.4pp
2024 · 4.7%
Net result
-€16,298▼ 8,801%
2024 · -€183
Working capital
€39,949▼ 28.9%
2024 · €56,176
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Turnover€202,785-€315,412▲ 55.5%€15,542▼ 95.1%€20,864▲ 34.2%€29,923▲ 43.4%
Operating result€106,016-€20,327▼ 80.8%-€40,351€975-€14,277
Net result€79,041above the sector's middle half-€16,502within the sector's middle half▼ 79.1%-€40,813below the sector's middle half-€183within the sector's middle half▲ 99.6%-€16,298below the sector's middle half▼ 8,801%
EBIT margin52.3%-6.4%▼ 45.8pp-259.6%▼ 266.1pp4.7%▲ 264.3pp-47.7%▼ 52.4pp
Equity€80,741within the sector's middle half-€97,243within the sector's middle half▲ 20.4%€56,430within the sector's middle half▼ 42.0%€56,247within the sector's middle half▼ 0.3%€39,949within the sector's middle half▼ 29.0%
Total assets€115,522below the sector's middle half-€157,519within the sector's middle half▲ 36.4%€76,497below the sector's middle half▼ 51.4%€106,957below the sector's middle half▲ 39.8%€57,244below the sector's middle half▼ 46.5%
Debt€34,780-€60,276▲ 73.3%€20,067▼ 66.7%€50,710▲ 153%€17,295▼ 65.9%
Working capital€73,527-€94,485▲ 28.5%€55,415▼ 41.4%€56,176▲ 1.4%€39,949▼ 28.9%
Solvency69.9%above the sector's middle half-61.7%within the sector's middle half▼ 8.2pp73.8%above the sector's middle half▲ 12.0pp52.6%within the sector's middle half▼ 21.2pp69.8%above the sector's middle half▲ 17.2pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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 €14,277 after €975 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €57,244
Equity
€39,949 ▼ 29.0%
Debt
€17,295 ▼ 65.9%
Debt's share of the balance-sheet total falls from 47.4% to 30.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€14,206▼
2024 · €1,520
Cash flow
-€16,227▼
2024 · €363
Current ratio
3.31▲
2024 · 2.11
Debt to equity
0.43▼
2024 · 0.90
ROE
-40.8%▼
2024 · -0.3%
ROA
-28.5%▼
2024 · -0.2%
Interest coverage
-7.55▼
2024 · 2.19
Debt ≤ 1 year
€17,295▼
2024 · €50,710
Income taxes
€141▼
2024 · €1,667
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,595 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.3%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,058 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 3,595 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €202,785 | €315,412 | €15,542 | €20,864 | €29,923 | ▲ 43.4% |
| Non-recurring operating income76A | €1,210 | €3,652 | €3,203 | €1,376 | €1,650 | ▲ 19.9% |
| Goods, raw materials, services and sundry goods60/61 | €92,357 | €295,919 | €57,122 | €19,173 | €44,135 | ▲ 130% |
| Remuneration, social security and pensions62 | €985 | €97 | - | €492 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,691 | €1,672 | €1,743 | €546 | €71 | ▼ 86.9% |
| Other operating charges640/8 | €1,946 | €1,050 | €232 | €1,055 | €1,644 | ▲ 55.9% |
| Gross operating margin9900 | €111,638 | €23,145 | -€38,376 | €3,067 | -€12,562 | ▼ 510% |
| Operating profit (loss)9901 | €106,016 | €20,327 | -€40,351 | €975 | -€14,277 | ▼ 1,565% |
| Financial income75/76B | €1 | €3,229 | €0 | €1,202 | - | - |
| Recurring financial income75 | €1 | €3,229 | €0 | €1,202 | - | - |
| Financial charges65/66B | €60 | €409 | €339 | €693 | €1,880 | ▲ 171% |
| Recurring financial charges65 | €60 | €403 | €339 | €693 | €1,880 | ▲ 171% |
| Non-recurring financial charges66B | €0 | €6 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €105,956 | €23,146 | -€40,690 | €1,484 | -€16,157 | ▼ 1,189% |
| Income taxes67/77 | €26,915 | €6,645 | €123 | €1,667 | €141 | ▼ 91.5% |
| Profit (loss) for the period9904 | €79,041 | €16,502 | -€40,813 | -€183 | -€16,298 | ▼ 8,801% |
| Profit (loss) for the period to be appropriated9905 | €79,041 | €16,502 | -€40,813 | -€183 | -€16,298 | ▼ 8,801% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €115,522 | €157,519 | €76,497 | €106,957 | €57,244 | ▼ 46.5% |
| Fixed assets21/28 | €7,215 | €2,758 | €1,015 | €71 | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €7,215 | €2,758 | €1,015 | €71 | - | - |
| Plant, machinery and equipment23 | €459 | €1,203 | €617 | €71 | - | - |
| Furniture and vehicles24 | €6,756 | €1,555 | €398 | - | - | - |
| Current assets29/58 | €108,307 | €154,761 | €75,482 | €106,886 | €57,244 | ▼ 46.4% |
| Amounts receivable within one year40/41 | €81,179 | €135,838 | €65,498 | €99,309 | €21,683 | ▼ 78.2% |
| Trade receivables40 | €55,500 | €84,609 | €49,067 | €96,481 | €18,694 | ▼ 80.6% |
| Other amounts receivable41 | €25,679 | €51,230 | €16,431 | €2,828 | €2,988 | ▲ 5.7% |
| Cash at bank and in hand54/58 | €26,427 | €18,738 | €9,462 | €7,241 | €35,047 | ▲ 384% |
| Deferred charges and accrued income490/1 | €702 | €185 | €521 | €336 | €514 | ▲ 53.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €115,522 | €157,519 | €76,497 | €106,957 | €57,244 | ▼ 46.5% |
| Equity10/15 | €80,741 | €97,243 | €56,430 | €56,247 | €39,949 | ▼ 29.0% |
| Contributions10/11 | €1,700 | €1,700 | €1,700 | €1,700 | €1,700 | = |
| Profit (loss) carried forward14 | €79,041 | €95,543 | €54,730 | €54,547 | €38,249 | ▼ 29.9% |
| Amounts payable17/49 | €34,780 | €60,276 | €20,067 | €50,710 | €17,295 | ▼ 65.9% |
| Amounts payable within one year42/48 | €34,780 | €60,276 | €20,067 | €50,710 | €17,295 | ▼ 65.9% |
| Trade debts44 | €7,866 | €25,159 | - | €13,782 | €1,535 | ▼ 88.9% |
| Suppliers440/4 | €7,866 | €25,159 | - | €13,782 | €1,535 | ▼ 88.9% |
| Taxes, remuneration and social security45 | €26,915 | €35,117 | €20,067 | €3,527 | €1,878 | ▼ 46.8% |
| Taxes450/3 | €26,915 | €35,117 | €20,067 | €3,527 | €1,878 | ▼ 46.8% |
| Other amounts payable47/48 | - | - | - | €33,401 | €13,883 | ▼ 58.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79,041 | €16,502 | -€40,813 | -€183 | -€16,298 | ▼ 8,801% |
| + Depreciation and write-downs630 | €2,691 | €1,672 | €1,743 | €546 | €71 | ▼ 86.9% |
| Operating cash flow (approximation) | €81,732 | €18,173 | -€39,071 | €363 | -€16,227 | ▼ 4,576% |
| Investment in fixed assets (approximation) | - | €2,785 | €0 | €398 | - | - |
| Change in cash | - | -€7,689 | -€9,276 | -€2,221 | €27,806 | ▲ 1,352% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 90 days late
2023
31-12
Financial
Weakest financial yearnet -€40,813
Net result drops to -€40,813, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Mons · 1 establishment unit since 2021
Ground area
1,035 m²
Building footprint
291 m²
Volume, LiDAR
2,739 m³
2 parcels, Wallonia · tallest building 12.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
STEMA
since 20212.313.800.188
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53042B0162/00N003 | Wallonia | 724 m² | 1 · 122 m² | 10.6 m · 2 fl. |
| 53053D0225/00T009 | Wallonia | 311 m² | 1 · 169 m² | 12.8 m · 4 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.
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 4,817 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
Founded04-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
42990Civil engineering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0762935979
Also
9925:BE0762935979
Registered
16-04-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.