Summary
STEMAAR is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €6.3m and a net result of -€2,760. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 54% of 6157 sector peers (fiscal year 2024). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
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.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
5 d late
2022
1 d late
2021
15 d early
2020
7 d early
2019
21 d early
← 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 6 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€6.3m=
2023 · €6.3m
Net result
-€2,760▲ 95.5%
2023 · -€61,954
Total assets
€11.1m▲ 11.2%
2023 · €10.0m
Solvency
56.3%▼ 6.3pp
2023 · 62.6%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€4,009€34,603-€32,240-€27,289▲ 15.4%-€27,792▼ 1.8%
Net result€15,361▲ 1,431%€587▼ 96.2%-€68,385-€61,954▲ 9.4%-€2,760▲ 95.5%
Equity€6.4m▲ 0.2%€6.4m=€6.3m▼ 1.1%€6.3m▼ 1.0%€6.3m=
Total assets€9.8m▲ 0.4%€9.8m▲ 0.4%€9.8m▲ 0.1%€10.0m▲ 1.8%€11.1m▲ 11.2%
Debt€3.4m▲ 0.7%€3.4m▲ 1.1%€3.5m▲ 2.3%€3.7m▲ 6.9%€4.9m▲ 30.0%
Working capital€1.7m▲ 1.1%€1.7m▲ 0.3%€1.3m▼ 21.4%€1.3m▼ 3.5%€2.6m▲ 103%
Solvency65.4%▼ 0.1pp65.2%▼ 0.3pp64.4%▼ 0.8pp62.6%▼ 1.8pp56.3%▼ 6.3pp
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 €27,792 in 2024 against €27,289 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €11.1m
Fixed assets
€8.3m =
Current assets
€2.9m ▲ 64.3%
Equity and liabilities €11.1m
Equity
€6.3m =
Debt
€4.9m ▲ 30.0%
Debt's share of the balance-sheet total rises from 37.4% to 43.7%. Debt is higher.
Key figures and ratios
ROE
0.0%▲
2023 · -1.0%
ROA
0.0%▲
2023 · -0.6%
Debt ≤ 1 year
€254,677▼
2023 · €458,780
Debt > 1 year
€4.6m▲
2023 · €3.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,391 | €3,391 | €20,483 | €15,092 | €3,391 | ▼ 77.5% |
| Other operating charges640/8 | - | €861 | €2,482 | €4,848 | €1,975 | ▼ 59.3% |
| Gross operating margin9900 | €238 | €38,856 | -€9,274 | -€7,348 | -€22,426 | ▼ 205% |
| Operating profit (loss)9901 | -€4,009 | €34,603 | -€32,240 | -€27,289 | -€27,792 | ▼ 1.8% |
| Financial income75/76B | - | €64,558 | €62,466 | €64,184 | €63,368 | ▼ 1.3% |
| Recurring financial income75 | €119,472 | €64,558 | €62,466 | €64,184 | €63,368 | ▼ 1.3% |
| Financial charges65/66B | - | €98,574 | €98,611 | €98,849 | €38,336 | ▼ 61.2% |
| Recurring financial charges65 | €98,570 | €98,574 | €98,611 | €98,849 | €38,336 | ▼ 61.2% |
| Profit (loss) for the period before taxes9903 | €16,894 | €587 | -€68,385 | -€61,954 | -€2,760 | ▲ 95.5% |
| Income taxes67/77 | €1,533 | - | - | - | - | - |
| Profit (loss) for the period9904 | €15,361 | €587 | -€68,385 | -€61,954 | -€2,760 | ▲ 95.5% |
| Profit (loss) for the period to be appropriated9905 | €15,361 | €587 | -€68,385 | -€61,954 | -€2,760 | ▲ 95.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.8m | €9.8m | €9.8m | €10.0m | €11.1m | ▲ 11.2% |
| Fixed assets21/28 | €8.0m | €8.0m | €8.3m | €8.3m | €8.3m | = |
| Tangible fixed assets22/27 | €175,313 | €171,922 | €467,688 | €452,596 | €449,205 | ▼ 0.7% |
| Land and buildings22 | - | €171,922 | €467,688 | €452,596 | €449,205 | ▼ 0.7% |
| Financial fixed assets28 | €7.8m | €7.8m | €7.8m | €7.8m | €7.8m | = |
| Current assets29/58 | €1.8m | €1.8m | €1.6m | €1.7m | €2.9m | ▲ 64.3% |
| Stocks and contracts in progress3 | - | - | - | €430,132 | €1.0m | ▲ 142% |
| Stocks30/36 | - | - | - | €430,132 | €1.0m | ▲ 142% |
| Amounts receivable within one year40/41 | €1.3m | €1.3m | €1.2m | €1.2m | €998,654 | ▼ 14.0% |
| Trade receivables40 | - | €28,750 | €0 | - | - | - |
| Other amounts receivable41 | - | €1.3m | €1.2m | €1.2m | €998,654 | ▼ 14.0% |
| Current investments50/53 | €75,612 | €75,810 | €75,810 | €50,968 | €50,968 | = |
| Cash at bank and in hand54/58 | €377,905 | €467,193 | €226,520 | €90,785 | €771,878 | ▲ 750% |
| Deferred charges and accrued income490/1 | - | - | €11,932 | €14,698 | €8,251 | ▼ 43.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.8m | €9.8m | €9.8m | €10.0m | €11.1m | ▲ 11.2% |
| Equity10/15 | €6.4m | €6.4m | €6.3m | €6.3m | €6.3m | = |
| Contributions10/11 | - | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Reserves13 | €3.1m | €3.1m | €3.1m | €3.0m | €3.0m | ▼ 0.1% |
| Non-distributable reserves130/1 | - | €160,165 | €160,165 | €0 | - | - |
| Reserves not available under the articles1311 | - | €160,165 | €160,165 | €0 | - | - |
| Distributable reserves133 | - | €3.0m | €2.9m | €3.0m | €3.0m | ▼ 0.1% |
| Amounts payable17/49 | €3.4m | €3.4m | €3.5m | €3.7m | €4.9m | ▲ 30.0% |
| Amounts payable after more than one year17 | €3.3m | €3.3m | €3.3m | €3.3m | €4.6m | ▲ 40.3% |
| Financial debts170/4 | - | - | - | - | €1.3m | - |
| Other amounts payable178/9 | - | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Amounts payable within one year42/48 | €103,064 | €140,313 | €219,223 | €458,780 | €254,677 | ▼ 44.5% |
| Trade debts44 | €2,000 | €2,000 | €2,000 | €197,208 | €22,266 | ▼ 88.7% |
| Suppliers440/4 | - | €2,000 | €2,000 | €197,208 | €22,266 | ▼ 88.7% |
| Taxes, remuneration and social security45 | - | €29,565 | €29,565 | €29,646 | €0 | ▼ 100% |
| Taxes450/3 | - | €29,565 | €29,565 | €29,646 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €108,748 | €187,658 | €231,926 | €232,410 | ▲ 0.2% |
| Accrued charges and deferred income492/3 | - | €868 | €871 | €1,488 | €5,438 | ▲ 266% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,361 | €587 | -€68,385 | -€61,954 | -€2,760 | ▲ 95.5% |
| + Depreciation and write-downs630 | €3,391 | €3,391 | €20,483 | €15,092 | €3,391 | ▼ 77.5% |
| Operating cash flow (approximation) | €18,752 | €3,978 | -€47,902 | -€46,861 | €631 | ▲ 101% |
| Investment in fixed assets (approximation) | - | €0 | -€316,250 | €0 | €0 | - |
| Change in cash | - | €89,288 | -€240,672 | -€135,735 | €681,093 | ▲ 602% |
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
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity triplescurrent ratio 11.27
Current ratio from 3.81 to 11.27; short-term debt falls from €458,780 to €254,677.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 5 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 1 day late
2022
30-12
Financial
Weakest financial yearnet -€68,385
Net result drops to -€68,385, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial 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, Lier · 1 establishment unit since 2007
Ground area
928 m²
Building footprint
181 m²
Volume, LiDAR
1,316 m³
Parcel 12393F0021/00X002, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Ringenhofweg 14, 2500 Lier
since 20072.168.749.457
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12393F0021/00X002 | Flanders | 928 m² | 1 · 180 m² | 9.7 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 24,729 companies in sector 64210 we hold annual accounts for 19,771. 7,433 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
Founded26-11-2007
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
41001General construction of residential buildings
41003General construction of other non-residential buildings
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.