STEP2
ActiveSummary
STEP2 has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €266,418 and a net result of -€6,368. Equity remains stable across the filed financial years (±1% per year). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
- Equity
- €266,418
- Loss
- -€6,368
Why 69raises riskFounded in 2023Last filed accounts filed 17 days late; 1 of the last 3 latelowers riskSize: total assets €881,192No main activity registeredShow the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 33% on solvency, 44% on liquidity, 30% on profitability and 37% on growth.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 3 accounts on average 11 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Back to profitnet €711
Financials · financial year 2025, micro format
2025 annual accounts filed late (17 days) Filed on 17 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00401287.
2023 to 2025, 3 financial years
The operating result falls in 2025; 2025 is 32% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 480 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95.8% are still going.
- Small
- 2 to 5 years old
- solvency 30% or more
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,445 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% | 0.9% |
| 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 74.5% 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 480 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,753 | €42,755 | €42,755 | = |
| Other operating charges640/8 | €1,879 | €3,312 | €4,016 | ▲ 21.3% |
| Gross operating margin9900 | €18,672 | €72,163 | €64,637 | ▼ 10.4% |
| Operating profit (loss)9901 | -€11,960 | €26,096 | €17,866 | ▼ 31.5% |
| Financial income75/76B | - | €156 | - | - |
| Recurring financial income75 | - | €156 | - | - |
| Financial charges65/66B | €15,965 | €25,541 | €24,234 | ▼ 5.1% |
| Recurring financial charges65 | €15,965 | €25,541 | €24,234 | ▼ 5.1% |
| Profit (loss) for the period before taxes9903 | -€27,925 | €711 | -€6,368 | - |
| Profit (loss) for the period9904 | -€27,925 | €711 | -€6,368 | - |
| Profit (loss) for the period to be appropriated9905 | -€27,925 | €711 | -€6,368 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €958,913 | €924,646 | €881,192 | ▼ 4.7% |
| Fixed assets21/28 | €924,982 | €882,227 | €839,472 | ▼ 4.8% |
| Tangible fixed assets22/27 | €924,982 | €882,227 | €839,472 | ▼ 4.8% |
| Land and buildings22 | €924,982 | €882,227 | €839,472 | ▼ 4.8% |
| Current assets29/58 | €33,931 | €42,419 | €41,720 | ▼ 1.6% |
| Amounts receivable within one year40/41 | - | €30,156 | €30,000 | ▼ 0.5% |
| Trade receivables40 | - | - | €30,000 | - |
| Other amounts receivable41 | - | €30,156 | - | - |
| Cash at bank and in hand54/58 | €31,918 | €11,774 | €10,889 | ▼ 7.5% |
| Deferred charges and accrued income490/1 | €2,013 | €489 | €831 | ▲ 69.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €958,913 | €924,646 | €881,192 | ▼ 4.7% |
| Equity10/15 | €272,075 | €272,786 | €266,418 | ▼ 2.3% |
| Contributions10/11 | €300,000 | €300,000 | €300,000 | = |
| Profit (loss) carried forward14 | -€27,925 | -€27,214 | -€33,582 | ▼ 23.4% |
| Amounts payable17/49 | €686,838 | €651,860 | €614,774 | ▼ 5.7% |
| Amounts payable after more than one year17 | €646,667 | €609,309 | €570,501 | ▼ 6.4% |
| Financial debts170/4 | €646,667 | €609,309 | €570,501 | ▼ 6.4% |
| Amounts payable within one year42/48 | €35,893 | €38,212 | €39,977 | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | €35,893 | €37,358 | €38,808 | ▲ 3.9% |
| Trade debts44 | - | €854 | €1,169 | ▲ 36.9% |
| Suppliers440/4 | - | €854 | €1,169 | ▲ 36.9% |
| Accrued charges and deferred income492/3 | €4,278 | €4,339 | €4,296 | ▼ 1.0% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,925 | €711 | -€6,368 | - |
| + Depreciation and write-downs630 | €28,753 | €42,755 | €42,755 | = |
| Operating cash flow (approximation) | €828 | €43,466 | €36,387 | ▼ 16.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€20,144 | -€885 | ▲ 95.6% |
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 (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 17-08-2026 | 2026-00401287 |
| 31-12-2024 | micro format | 16-07-2025 | 2025-00273726 |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00421823 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Permanent representatives 3
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| ILTHO |
|
| Stidge |
|
| VDBR |
|
Owners and capital
Owners
1 ownerOwners 1
- Sourceaccounts ILTHO 202524%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
2 connected companiesThe connected companies are in the list below.
History
Acts, filings and financial milestones
02-03
Gazette deed
IncorporationAppointments: VDBR, STIDGE and ILTHO · Permanent representatives: VANDENBROECKE Patrick, PLEHIERS Stijn and THOMAS Stefan Herman Louisa · Registered office clause19 facts ▸
- Registered office clause, “3202 Aarschot (Rillaar),Tieltseweg 149” (deed in Dutch)
- Board rule, 3
- Director appointment, VDBR (director)
- Permanent representative, VANDENBROECKE Patrick
- Director appointment, STIDGE (director)
- Permanent representative, PLEHIERS Stijn
- Director appointment, ILTHO (director)
- Permanent representative, THOMAS Stefan Herman Louisa
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Founder, VDBR
- Director in office, VANDENBROECKE Patrick (director)
- Founder, STIDGE
- +7 further facts in this act
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 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
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24092E0134/00L000 | Flanders | 1,605 m² | 1 · 223 m² | 8.2 m · 2 |
How the parcels are linked
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.
- STEP2
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, Artikel 2” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Benoemd met of zonder beperking van duur, 1” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam met vermeldingen voorgeschreven door Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Procedure- en expertisekosten voor helft ten laste overdrager en helft ten laste koper(s),naar evenredigheid aantal bij meerdere kopers…” (deed in Dutch)
- Share issue ruleHow and by whom new shares can be issued.
- “Ten minste vijftien dagen te rekenen van dag openstelling intekening, nieuwe aandelen waarop in geld wordt ingeschreven” (deed in Dutch)
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, op elk moment” (deed in Dutch)1 more provision on this in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen, bestuurder(s) in functie krachtens statuten” (deed in Dutch)