Summary
STEPAVAN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €810,710 and a net result of -€81,571. Equity is shrinking by about 7.6% per year across the filed financial years. Its solvency ranks better than 73% of 9,736 sector peers (NACE 64, financial year 2025). The company has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€810,710▼ 9.1%
2024 · €892,280
Net result
-€81,571▲ 8.2%
2024 · -€88,867
Total assets
€1.1m▼ 10.1%
2024 · €1.2m
Solvency
75.2%▲ 0.8pp
2024 · 74.4%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €82,995 in 2025 against €89,009 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.08m
2025
Net result-€0.08m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.1m
2025
Equity€0.8m
2025
Debt€0.3m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.02m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-7.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency75.2%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.18
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.2m▲ 23.2%€0.02m▼ 85.6%-€0.1m-€0.1m▲ 18.8%-€0.09m▲ 9.9%-€0.08m▲ 6.8%
Net result€0.07m-€0.1mabove the sector's middle half▲ 32.4%€0.007mwithin the sector's middle half▼ 93.2%-€0.2mbelow the sector's middle half-€0.09mbelow the sector's middle half▲ 40.0%-€0.09mbelow the sector's middle half▲ 3.0%-€0.08mbelow the sector's middle half▲ 8.2%
Equity€1.1m-€1.2mabove the sector's middle half▲ 8.5%€1.2mabove the sector's middle half▲ 0.5%€1.1mabove the sector's middle half▼ 12.5%€1.0mabove the sector's middle half▼ 8.5%€0.9mabove the sector's middle half▼ 9.1%€0.8mabove the sector's middle half▼ 9.1%
Total assets€1.4m-€1.5mabove the sector's middle half▲ 8.5%€2.2mabove the sector's middle half▲ 52.8%€2.1mabove the sector's middle half▼ 7.8%€1.3mabove the sector's middle half▼ 38.1%€1.2mabove the sector's middle half▼ 6.4%€1.1mabove the sector's middle half▼ 10.1%
Debt€0.2m-€0.2m▲ 8.3%€1.0m▲ 308%€1.0m▼ 2.3%€0.3m▼ 69.9%€0.3m▲ 2.2%€0.3m▼ 12.8%
Working capital€0.5m-€0.3mabove the sector's middle half▼ 42.9%€0.4mabove the sector's middle half▲ 17.3%€0.3mabove the sector's middle half▼ 29.0%€0.009mwithin the sector's middle half▼ 96.4%€0.005mwithin the sector's middle half▼ 43.7%€0.02mwithin the sector's middle half▲ 226%
Solvency83.0%-83.0%above the sector's middle half=54.6%within the sector's middle half▼ 28.4pp51.9%within the sector's middle half▼ 2.7pp76.6%within the sector's middle half▲ 24.7pp74.4%within the sector's middle half▼ 2.2pp75.2%within the sector's middle half▲ 0.8pp
Current ratio3.32-2.23within the sector's middle half▼ 1.091.35within the sector's middle half▼ 0.871.26within the sector's middle half▼ 0.101.07within the sector's middle half▼ 0.181.04within the sector's middle half▼ 0.031.18within the sector's middle half▲ 0.14
Return on assets (ROA)5.3%-6.5%within the sector's middle half▲ 1.2pp0.3%below the sector's middle half▼ 6.2pp-7.4%below the sector's middle half▼ 7.7pp-7.2%below the sector's middle half▲ 0.2pp-7.4%below the sector's middle half▼ 0.3pp-7.6%below the sector's middle half▼ 0.2pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€968,869 ▼ 8.8%
Current assets
€109,553 ▼ 20.1%
Equity and liabilities €1.1m
Equity
€810,710 ▼ 9.1%
Debt
€267,712 ▼ 12.8%
Debt's share of the balance-sheet total falls from 25.6% to 24.8%. Equity and debt are lower.
Key figures and ratios
ROE
-10.1%▼
2024 · -10.0%
Debt ≤ 1 year
€92,712▼
2024 · €131,942
Debt > 1 year
€175,000=
2024 · €175,000
Income taxes
€297
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €272 | €2,384 | ▲ 775% |
| Remuneration, social security and pensions62 | - | - | €3,000 | €3,000 | €750 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,648 | €46,942 | €58,717 | €65,101 | €81,417 | €85,124 | €77,600 | ▼ 8.8% |
| Other operating charges640/8 | - | - | €5,237 | €8,504 | €6,787 | €6,815 | €5,453 | ▼ 20.0% |
| Non-recurring operating charges66A | - | - | - | €269 | €0 | - | - | - |
| Gross operating margin9900 | €177,052 | €206,002 | €88,641 | -€44,771 | -€9,841 | €2,930 | €58 | ▼ 98.0% |
| Operating profit (loss)9901 | €122,599 | €151,004 | €21,686 | -€121,644 | -€98,795 | -€89,009 | -€82,995 | ▲ 6.8% |
| Financial income75/76B | - | - | €4 | €0 | €7,307 | €290 | €1,796 | ▲ 520% |
| Recurring financial income75 | - | - | €4 | €0 | €7,307 | €290 | €1,796 | ▲ 520% |
| Financial charges65/66B | - | - | €11,503 | €30,939 | €147 | €148 | €75 | ▼ 49.2% |
| Recurring financial charges65 | €13,353 | €12,497 | €11,503 | €30,939 | €147 | €148 | €75 | ▼ 49.2% |
| Profit (loss) for the period before taxes9903 | €109,246 | €138,507 | €10,187 | -€152,582 | -€91,634 | -€88,867 | -€81,274 | ▲ 8.5% |
| Income taxes67/77 | €36,820 | €42,640 | €3,622 | €214 | €0 | - | €297 | - |
| Profit (loss) for the period9904 | €72,426 | €95,867 | €6,565 | -€152,796 | -€91,634 | -€88,867 | -€81,571 | ▲ 8.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €304 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €72,426 | €95,867 | €6,565 | -€152,492 | -€91,634 | -€88,867 | -€81,571 | ▲ 8.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.4m | €1.5m | €2.2m | €2.1m | €1.3m | €1.2m | €1.1m | ▼ 10.1% |
| Fixed assets21/28 | €0.6m | €0.9m | €0.9m | €0.8m | €1.1m | €1.1m | €1.0m | ▼ 8.8% |
| Tangible fixed assets22/27 | €0.6m | €0.9m | €0.9m | €0.8m | €1.1m | €1.1m | €1.0m | ▼ 8.8% |
| Land and buildings22 | - | - | €0.9m | €0.8m | €1.1m | €1.1m | €1.0m | ▼ 8.7% |
| Plant, machinery and equipment23 | - | - | €0.002m | €0.003m | €0.003m | €0.002m | €0.001m | ▼ 54.6% |
| Furniture and vehicles24 | - | - | €0.001m | €0.001m | €0.001m | €460 | €163 | ▼ 64.6% |
| Current assets29/58 | €0.8m | €0.6m | €1.4m | €1.2m | €0.1m | €0.1m | €0.1m | ▼ 20.1% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.03m | €350 | €0.006m | €0.005m | €0.003m | ▼ 48.3% |
| Trade receivables40 | - | - | €0.02m | €0 | €0.003m | €0.005m | €0.001m | ▼ 70.0% |
| Other amounts receivable41 | - | - | €0.02m | €350 | €0.003m | €87 | €0.001m | ▲ 13× |
| Current investments50/53 | - | - | - | - | - | €0.1m | €0.07m | ▼ 38.3% |
| Cash at bank and in hand54/58 | €0.7m | €0.5m | €1.3m | €1.2m | €0.1m | €0.008m | €0.03m | ▲ 264% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.004m | €0.004m | €0.004m | €0.004m | ▼ 0.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €2.2m | €2.1m | €1.3m | €1.2m | €1.1m | ▼ 10.1% |
| Equity10/15 | €1.1m | €1.2m | €1.2m | €1.1m | €1.0m | €0.9m | €0.8m | ▼ 9.1% |
| Contributions10/11 | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €1.1m | €1.2m | €1.2m | €1.1m | €1.0m | €0.9m | €0.8m | ▼ 9.3% |
| Non-distributable reserves130/1 | - | - | €0.003m | €0.003m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.003m | €0.003m | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | €304 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | €1.2m | €1.1m | €1.0m | €0.9m | €0.8m | ▼ 9.3% |
| Amounts payable17/49 | €0.2m | €0.2m | €1.0m | €1.0m | €0.3m | €0.3m | €0.3m | ▼ 12.8% |
| Amounts payable after more than one year17 | - | - | - | - | €0.2m | €0.2m | €0.2m | = |
| Financial debts170/4 | - | - | - | - | €0.2m | €0.2m | €0.2m | = |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €1.0m | €1.0m | €0.1m | €0.1m | €0.09m | ▼ 29.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.003m | €0.003m | €0.003m | = |
| Trade debts44 | €0.005m | €0.004m | €0.009m | €0.003m | €0.003m | €0.001m | €0.002m | ▲ 246% |
| Suppliers440/4 | - | - | €0.009m | €0.003m | €0.003m | €0.001m | €0.002m | ▲ 246% |
| Taxes, remuneration and social security45 | - | - | €0.01m | €0.002m | €0.002m | €0.003m | €0.001m | ▼ 70.3% |
| Taxes450/3 | - | - | €0.01m | €0.002m | €0.002m | €0.003m | €0.001m | ▼ 70.3% |
| Other amounts payable47/48 | - | - | €1.0m | €1.0m | €0.1m | €0.1m | €0.09m | ▼ 30.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.07m | €0.1m | €0.007m | -€0.2m | -€0.09m | -€0.09m | -€0.08m | ▲ 8.2% |
| + Depreciation and write-downs630 | €0.05m | €0.05m | €0.06m | €0.07m | €0.08m | €0.09m | €0.08m | ▼ 8.8% |
| Operating cash flow (approximation) | €0.1m | €0.1m | €0.07m | -€0.09m | -€0.01m | -€0.004m | -€0.004m | ▼ 6.1% |
| Investment in fixed assets (approximation) | - | -€0.4m | -€0.01m | -€0.02m | -€0.4m | -€272 | €0.02m | - |
| Change in cash | - | -€0.2m | €0.8m | -€0.1m | -€1.1m | -€0.1m | €0.02m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | micro format | 08-04-2026 | 2026-00074708 |
| 30-09-2024 | micro format | 08-04-2025 | 2025-00065746 |
| 30-09-2023 | micro format | 25-04-2024 | 2024-00079233 |
| 30-09-2022 | micro format | 24-04-2023 | 2023-00069046 |
| 30-09-2021 | micro format | 28-04-2022 | 2022-20020215 |
| 30-09-2020 | micro format | 29-03-2021 | 2021-08800151 |
| 30-09-2019 | micro format | 21-04-2020 | 2020-09600418 |
| 30-09-2018 | micro format | 11-04-2019 | 2019-09800453 |
| 30-09-2017 | micro format | 03-04-2018 | 2018-09400272 |
| 30-09-2016 | abbreviated format | 27-03-2017 | 2017-08800204 |
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Of the 24,456 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,093. 13,209 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.