STEMAX
ActiveSummary
STEMAX has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81,750 and a net result of €20,241. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 2704 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+29
Solvency66▲+6
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.78 against 1.39 in 2024; short-term debt: 26% and cash: 17% of total assets), but 58.5% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
41.5%
Return on assets
10.3%
Age of the figures
9 mo
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 21-07-2026, 10 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
10 d early
2024
31 d late
2023
15 d late
2022
24 d late
2021
22 d late
2020
31 d late
2019
62 d late
← 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 25 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#7 oldest company in La Hulpe, Telecoms and IT sector
Equity
€81,750▲ 32.9%
2024 · €61,509
Total assets
€197,200▲ 11.6%
2024 · €176,670
Net result
€20,241▲ 1,752%
2024 · €1,093
Working capital
€40,126▲ 127%
2024 · €17,646
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
Line20212022202320242025
Operating result€8,461€5,873▼ 30.6%€13,214▲ 125%€7,574▼ 42.7%€36,081▲ 376%
Net result€2,560€123▼ 95.2%€5,003▲ 3,956%€1,093▼ 78.2%€20,241▲ 1,752%
Equity€55,290▲ 4.9%€55,413▲ 0.2%€60,417▲ 9.0%€61,509▲ 1.8%€81,750▲ 32.9%
Total assets€177,736▲ 4.6%€169,774▼ 4.5%€176,269▲ 3.8%€176,670▲ 0.2%€197,200▲ 11.6%
Debt€122,446▲ 4.5%€114,361▼ 6.6%€115,852▲ 1.3%€115,161▼ 0.6%€115,449▲ 0.3%
Working capital€41,245▲ 19.5%€34,465▼ 16.4%€16,619▼ 51.8%€17,646▲ 6.2%€40,126▲ 127%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 376% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €197,200
Fixed assets
€105,781 ▼ 7.4%
Current assets
€91,419 ▲ 46.4%
Equity and liabilities €197,200
Equity
€81,750 ▲ 32.9%
Debt
€115,449 ▲ 0.3%
Debt's share of the balance-sheet total falls from 65.2% to 58.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€44,519▲
2024 · €16,816
Cash flow
€28,679▲
2024 · €10,334
Current ratio
1.78▲
2024 · 1.39
Quick ratio
1.26▲
2024 · 0.89
Debt to equity
1.41▼
2024 · 1.87
ROE
24.8%▲
2024 · 1.8%
ROA
10.3%▲
2024 · 0.6%
Interest coverage
10.42▲
2024 · 3.97
Debt ≤ 1 year
€51,293▲
2024 · €44,805
Debt > 1 year
€64,156▼
2024 · €66,869
Income taxes
€11,649▲
2024 · €2,280
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,059 | €7,338 | €8,771 | €9,242 | €8,438 | ▼ 8.7% |
| Other operating charges640/8 | €1,108 | €1,644 | €1,328 | €970 | €1,111 | ▲ 14.6% |
| Gross operating margin9900 | €16,627 | €14,855 | €23,313 | €17,786 | €45,630 | ▲ 157% |
| Operating profit (loss)9901 | €8,461 | €5,873 | €13,214 | €7,574 | €36,081 | ▲ 376% |
| Financial income75/76B | €1 | €37 | €25 | €35 | €83 | ▲ 138% |
| Recurring financial income75 | €1 | €37 | €25 | €35 | €83 | ▲ 138% |
| Financial charges65/66B | €4,241 | €3,385 | €4,200 | €4,236 | €4,273 | ▲ 0.9% |
| Recurring financial charges65 | €4,241 | €3,385 | €4,200 | €4,236 | €4,273 | ▲ 0.9% |
| Profit (loss) for the period before taxes9903 | €4,221 | €2,526 | €9,039 | €3,373 | €31,890 | ▲ 846% |
| Income taxes67/77 | €1,661 | €2,402 | €4,035 | €2,280 | €11,649 | ▲ 411% |
| Profit (loss) for the period9904 | €2,560 | €123 | €5,003 | €1,093 | €20,241 | ▲ 1,752% |
| Transfer from tax-exempt reserves789 | €7,406 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €9,966 | €123 | €5,003 | €1,093 | €20,241 | ▲ 1,752% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €177,736 | €169,774 | €176,269 | €176,670 | €197,200 | ▲ 11.6% |
| Fixed assets21/28 | €78,444 | €88,406 | €116,826 | €114,219 | €105,781 | ▼ 7.4% |
| Tangible fixed assets22/27 | €10,048 | €7,710 | €36,130 | €26,889 | €18,451 | ▼ 31.4% |
| Plant, machinery and equipment23 | €3,836 | €5,057 | €10,487 | €8,067 | €5,648 | ▼ 30.0% |
| Furniture and vehicles24 | - | - | €11,339 | €8,381 | €5,423 | ▼ 35.3% |
| Other tangible fixed assets26 | €6,212 | €2,654 | €14,305 | €10,441 | €7,380 | ▼ 29.3% |
| Financial fixed assets28 | €68,396 | €80,696 | €80,696 | €87,330 | €87,330 | = |
| Current assets29/58 | €99,291 | €81,368 | €59,442 | €62,451 | €91,419 | ▲ 46.4% |
| Stocks and contracts in progress3 | €18,395 | €18,556 | €20,846 | €22,713 | €26,537 | ▲ 16.8% |
| Stocks30/36 | €18,395 | €18,556 | €20,846 | €22,713 | €26,537 | ▲ 16.8% |
| Amounts receivable within one year40/41 | €28,726 | €22,272 | €15,021 | €18,716 | €22,625 | ▲ 20.9% |
| Trade receivables40 | €24,300 | €22,272 | €15,021 | €18,716 | €22,501 | ▲ 20.2% |
| Other amounts receivable41 | €4,426 | €0 | - | - | €124 | - |
| Cash at bank and in hand54/58 | €42,430 | €31,668 | €14,192 | €11,478 | €33,485 | ▲ 192% |
| Deferred charges and accrued income490/1 | €9,741 | €8,872 | €9,384 | €9,545 | €8,771 | ▼ 8.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €177,736 | €169,774 | €176,269 | €176,670 | €197,200 | ▲ 11.6% |
| Equity10/15 | €55,290 | €55,413 | €60,417 | €61,509 | €81,750 | ▲ 32.9% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €0 | - | - | - | €19,500 | - |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €19,500 | - |
| Profit (loss) carried forward14 | -€6,683 | -€6,560 | -€1,557 | -€464 | €277 | ▲ 160% |
| Amounts payable17/49 | €122,446 | €114,361 | €115,852 | €115,161 | €115,449 | ▲ 0.3% |
| Amounts payable after more than one year17 | €61,172 | €61,172 | €69,542 | €66,869 | €64,156 | ▼ 4.1% |
| Financial debts170/4 | €61,172 | €61,172 | €69,542 | €66,869 | €64,156 | ▼ 4.1% |
| Amounts payable within one year42/48 | €58,046 | €46,903 | €42,823 | €44,805 | €51,293 | ▲ 14.5% |
| Current portion of amounts payable after more than one year42 | - | - | €2,634 | €2,673 | €2,713 | ▲ 1.5% |
| Trade debts44 | €31,410 | €17,114 | €13,423 | €16,516 | €15,463 | ▼ 6.4% |
| Suppliers440/4 | €31,410 | €17,114 | €13,423 | €16,516 | €15,463 | ▼ 6.4% |
| Taxes, remuneration and social security45 | €2,912 | €7,080 | €8,519 | €6,758 | €15,164 | ▲ 124% |
| Taxes450/3 | €2,912 | €7,080 | €8,519 | €6,758 | €15,164 | ▲ 124% |
| Other amounts payable47/48 | €23,724 | €22,708 | €18,248 | €18,859 | €17,953 | ▼ 4.8% |
| Accrued charges and deferred income492/3 | €3,227 | €6,286 | €3,487 | €3,487 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,560 | €123 | €5,003 | €1,093 | €20,241 | ▲ 1,752% |
| + Depreciation and write-downs630 | €7,059 | €7,338 | €8,771 | €9,242 | €8,438 | ▼ 8.7% |
| Operating cash flow (approximation) | €9,619 | €7,461 | €13,774 | €10,334 | €28,679 | ▲ 178% |
| Investment in fixed assets (approximation) | - | -€17,300 | -€37,191 | -€6,634 | €0 | ▲ 100% |
| Change in cash | - | -€10,762 | -€17,476 | -€2,714 | €22,007 | ▲ 911% |
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
21-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €20,241 ▲1,752%
Operating result €36,081, net result €20,241, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
15-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 15 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Back to profitnet €2,560
Net result €2,560 after 3 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet -€8,160
Net result drops to -€8,160, the lowest in the series; recovery starts the following year.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 62 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, La Hulpe · 1 establishment unit since 1996
Ground area
156 m²
Building footprint
62 m²
Volume, LiDAR
631 m³
Parcel 25050B0403/00K002, Wallonia · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
STEMAX
since 19962.077.459.391
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25050B0403/00K002 | Wallonia | 156 m² | 1 · 62 m² | 11.5 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.
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Of 16,910 companies in sector 62100 we hold annual accounts for 8,775. 6,950 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-06-1996
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
73200Market research and public opinion polling
82990Other business support services
95100Repair and maintenance of computers and communication equipment
Scores and ratios are computed by Checked and are not a credit decision.