Equity
Stephan Schepens paid out €52,632 in dividends. That is 410% of the 2026 profit.
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 (NACE 46, micro). It does better than 77% of them on solvency, 82% on liquidity, 67% on profitability and 18% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 34,693 companies had the same profile as Stephan Schepens has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of Stephan Schepens itself: 0.5% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for Stephan Schepens. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 3.0 (4.98 in 2025), above the usual 1.5. Short-term debt is 26.5% of total assets. 28% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 7 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Stephan Schepens Herzele | €199,543 | €41,750 | 72.0% | - |
| HARZAK Braine-l'Alleud | €244,941 | €47,583 | 79.3% | - |
| Mastanel Bekkevoort | €253,686 | €40,041 | 25.1% | - |
| Delmatec Deinze | €172,262 | €47,667 | 89.7% | - |
| TIRRY Lebbeke | €158,100 | €36,129 | 80.8% | - |
| MMIQ Hove | €218,121 | €59,583 | 14.8% | - |
| VALVES TECHNOLOGIE CONSULTING Edegem | €156,109 | €32,934 | 89.3% | - |
These companies have the same main activity as Stephan Schepens: agents in the wholesale of industrial machinery, ships and aircraft (NACE 46140). They are comparable in size and age: total assets between €156,000 and €254,000, founded between 2011 and 2016.
Stephan Schepens files the micro format. That format states no turnover. The gross margin rose from -€16,045 in 2016 to €41,750 in 2026.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €180,000. Estimated: probably between €110,000 and €460,000.
Higher than 83% of 13,805 companies in 2025.
Higher than 82% of 13,186 companies in 2025.
Higher than 63% of 13,365 companies in 2025.
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
199,543 | 225,464 | 209,253 | 210,609 | 166,209 | 176,667 | 96,193 | 69,096 | 49,791 | 15,479 | 18,407 | |
21/28 |
40,728 | 45,337 | 64,430 | 53,659 | 45,077 | 61,900 | 24,714 | 3,149 | 6,205 | 752 | 1,622 | |
22/27 |
40,728 | 45,337 | 64,430 | 53,659 | 45,077 | 61,900 | 24,714 | 3,149 | 6,205 | 752 | 1,622 | |
23 |
1,986 | 2,190 | 1,314 | 2,724 | 1,520 | 2,279 | 3,039 | - | - | - | - | |
24 |
36,602 | 43,147 | 63,115 | 50,935 | 43,557 | 59,621 | 21,675 | 3,149 | 6,205 | 752 | 1,622 | |
26 |
2,139 | - | - | - | - | - | - | - | - | - | - | |
29/58 |
158,814 | 180,127 | 144,824 | 156,950 | 121,132 | 114,767 | 71,479 | 65,947 | 43,586 | 14,727 | 16,785 | |
40/41 |
31,097 | 31,244 | 23,285 | 28,292 | 26,056 | 18,430 | 17,790 | 18,733 | 22,532 | 2,556 | 10,090 | |
40 |
15,673 | 16,825 | 19,969 | 25,515 | 19,820 | 18,136 | 17,790 | 18,733 | 22,532 | 2,556 | 10,090 | |
41 |
15,424 | 14,419 | 3,316 | 2,777 | 6,237 | 293 | - | - | - | - | - | |
50/53 |
125,986 | 144,510 | 119,206 | - | - | - | - | - | - | - | - | |
54/58 |
- | 2,645 | 1,698 | 128,658 | 95,076 | 96,337 | 52,596 | 43,868 | 21,054 | 12,170 | 6,068 | |
490/1 |
1,731 | 1,728 | 635 | - | - | - | 1,093 | 3,347 | - | - | 627 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
199,543 | 225,464 | 209,253 | 210,609 | 166,209 | 176,667 | 96,193 | 69,096 | 49,791 | 15,479 | 18,407 | |
10/15 |
143,585 | 183,381 | 166,475 | 152,391 | 132,471 | 119,218 | 75,087 | 35,656 | 13,579 | -3,268 | -722 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
124,985 | 164,781 | 147,875 | 133,791 | 113,871 | 100,618 | 56,487 | 36,860 | 15,860 | - | - | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | - | - | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
133 |
124,985 | 164,781 | 147,875 | 131,931 | 112,011 | 98,758 | 54,627 | 35,000 | 14,000 | - | - | |
14 |
- | - | - | - | - | - | - | -19,804 | -20,881 | -21,868 | -19,322 | |
17/49 |
55,957 | 42,083 | 42,778 | 58,218 | 33,738 | 57,449 | 21,106 | 33,440 | 36,212 | 18,747 | 19,129 | |
17 |
3,096 | 5,921 | 18,079 | 19,226 | 14,823 | 21,282 | - | - | - | - | - | |
170/4 |
3,096 | 5,921 | 18,079 | 19,226 | 14,823 | 21,282 | - | - | - | - | - | |
42/48 |
52,862 | 36,162 | 24,700 | 38,993 | 18,915 | 36,167 | 21,106 | 25,084 | 31,391 | 18,288 | 18,219 | |
42 |
11,893 | 9,336 | 15,762 | 12,826 | 6,460 | 6,399 | - | - | - | - | - | |
43 |
26,936 | 10,033 | - | 13,006 | 1,053 | 2,938 | - | 734 | 8,167 | 2,466 | 3,499 | |
430/8 |
26,936 | 10,033 | - | 13,006 | 1,053 | 2,938 | - | 734 | 8,167 | 2,466 | 3,499 | |
44 |
4,892 | 7,804 | 4,167 | 4,721 | 721 | 15,770 | 2,727 | 2,601 | 872 | 2,208 | 776 | |
440/4 |
4,892 | 7,804 | 4,167 | 4,721 | 721 | 15,770 | 2,727 | 2,601 | 872 | 2,208 | 776 | |
45 |
9,140 | 8,989 | 3,271 | 3,284 | 9,404 | 7,249 | 13,919 | 19,570 | 19,925 | 3,651 | 4,110 | |
450/3 |
9,140 | 8,989 | 3,271 | 3,284 | 5,954 | 7,249 | 13,919 | 17,370 | 17,725 | 1,451 | 1,910 | |
454/9 |
- | - | - | - | 3,450 | - | - | 2,200 | 2,200 | 2,200 | 2,200 | |
47/48 |
- | - | 1,500 | 5,155 | 1,278 | 3,811 | 4,460 | 2,177 | 2,427 | 9,963 | 9,834 | |
492/3 |
- | - | - | - | - | - | - | 8,356 | 4,821 | 459 | 910 | |
| Income statement | ||||||||||||
76A |
- | 829 | 3,382 | - | - | - | 5,462 | - | - | - | - | |
9900 |
41,750 | 39,331 | 49,275 | 54,896 | 41,010 | 70,672 | 67,986 | 37,459 | 36,058 | -33 | -16,045 | |
630 |
23,003 | 21,957 | 16,573 | 19,188 | 14,903 | 7,547 | 6,448 | 3,056 | 3,808 | 871 | 1,016 | |
640/8 |
1,923 | 1,715 | 3,024 | 1,510 | 1,212 | 836 | 2,161 | 815 | 1,042 | 968 | 1,374 | |
66A |
- | - | - | - | 1,094 | - | 1,072 | - | - | - | - | |
9901 |
16,823 | 15,660 | 29,678 | 34,198 | 23,801 | 62,290 | 58,304 | 33,588 | 31,208 | -1,871 | -18,434 | |
75/76B |
10,787 | 18,531 | 296 | 0 | 546 | - | 1 | 456 | 14 | 15 | 139 | |
75 |
10,787 | 18,531 | 296 | 0 | 546 | - | 1 | 456 | 14 | 15 | 139 | |
65/66B |
3,278 | 3,892 | 2,793 | 2,520 | 1,655 | 730 | 810 | 701 | 931 | 593 | 916 | |
65 |
3,278 | 3,892 | 2,793 | 2,520 | 1,655 | 730 | 810 | 701 | 931 | 593 | 916 | |
9903 |
24,332 | 30,299 | 27,181 | 31,679 | 22,692 | 61,560 | 57,495 | 33,343 | 30,291 | -2,450 | -19,211 | |
67/77 |
11,496 | 13,393 | 13,097 | 11,759 | 9,438 | 17,429 | 18,064 | 11,266 | 13,444 | 97 | 111 | |
9904 |
12,836 | 16,906 | 14,084 | 19,920 | 13,253 | 44,130 | 39,431 | 22,077 | 16,847 | -2,547 | -19,322 | |
9905 |
12,836 | 16,906 | 14,084 | 19,920 | 13,253 | 44,130 | 39,431 | 22,077 | 16,847 | -2,547 | -19,322 | |
| Appropriation of the result | ||||||||||||
9906 |
12,836 | 16,906 | 14,084 | 19,920 | 13,253 | 44,130 | 19,627 | 1,196 | -5,021 | -21,868 | -19,322 | |
791/2 |
52,632 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
12,836 | 16,906 | 14,084 | 19,920 | 13,253 | 44,130 | 19,627 | 21,000 | 15,860 | - | - | |
6920 |
- | - | - | - | - | - | - | - | 1,860 | - | - | |
6921 |
12,836 | 16,906 | 14,084 | 19,920 | 13,253 | 44,130 | 19,627 | 21,000 | 14,000 | - | - | |
694/7 |
52,632 | - | - | - | - | - | - | - | - | - | - | |
694 |
52,632 | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2026 at the NBB, filed on 30-10-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 30-10-2026 | 2026-00596898 | |
| 31-03-2025 | micro format | 31-10-2025 | 2025-00557471 | |
| 31-03-2024 | micro format | 18-10-2024 | 2024-00511682 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00501707 | |
| 31-03-2022 | micro format | 02-11-2022 | 2022-20484077 | |
| 31-03-2021 | micro format | 09-11-2021 | 2021-77000112 | |
| 31-03-2020 | micro format | 21-12-2020 | 2020-76500420 | |
| 31-03-2019 | micro format | 04-12-2019 | 2019-75200134 | |
| 31-03-2018 | micro format | 25-10-2018 | 2018-70000467 | |
| 31-03-2017 | micro format | 29-09-2017 | 2017-63700587 | |
| 31-03-2016 | abbreviated format | 18-10-2016 | 2016-65800186 |
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 39,826 | 37,617 | 46,251 | 53,386 | 38,704 | 69,837 | 64,752 | 36,644 | 35,016 | -1,000 | -17,418 | ||
| 35,839 | 38,863 | 30,657 | 39,108 | 28,157 | 51,677 | 45,879 | 25,134 | 20,655 | -1,676 | -18,306 | ||
| 18,394 | 2,864 | 31,852 | 27,771 | -1,920 | 44,733 | 31,162 | 0 | 9,261 | 0 | 2,638 | ||
| - | 948 | -126,960 | 33,582 | -1,261 | 43,741 | 8,729 | 22,813 | 8,884 | 6,102 | - | ||
| 105,953 | 143,965 | 120,124 | 117,957 | 102,217 | 78,600 | 50,373 | 40,864 | 12,195 | -3,561 | -1,434 | ||
| 72.0% | 81.3% | 79.6% | 72.4% | 79.7% | 67.5% | 78.1% | 51.6% | 27.3% | -21.1% | -3.9% | ||
| 3.00 | 4.98 | 5.86 | 4.03 | 6.40 | 3.17 | 3.39 | 2.63 | 1.39 | 0.81 | 0.92 | ||
| 0.39 | 0.23 | 0.26 | 0.38 | 0.25 | 0.48 | 0.28 | 0.94 | 2.67 | - | - | ||
| 8.9% | 9.2% | 8.5% | 13.1% | 10.0% | 37.0% | 52.5% | 61.9% | 124.1% | - | - | ||
| 6.4% | 7.5% | 6.7% | 9.5% | 8.0% | 25.0% | 41.0% | 32.0% | 33.8% | -16.5% | -105.0% | ||
| 12.15 | 9.67 | 16.56 | 21.19 | 23.39 | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-03-2026 | 31-03-2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,394 | €2,864 | €31,852 | €27,771 | - |
| €23,003 | €21,957 | €16,573 | €19,188 | €14,903 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
The operating result for 2026 is 7% higher than in 2025. It is a recovery after the fall in 2025.
Debt's share of the balance-sheet total rises from 18.7% to 28.0%. Equity is lower and debt is higher.
Stephan Schepens has no parent and no holdings in its annual accounts. Stephan Schepens is the only director.
| WATERCIRCLE.BE via Stephan Schepens, no longer at WATERCIRCLE.BE · Director · deed of 14-03-2022 |
founded in 2003 |
The network starts from the earlier ties.
Deadline for the 2027 accounts: 31-10-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Diepestraat 18 registered office 9550 Herzele 3312003 Repair and maintenance of machinery | 02-02-2015 | 2.239.430.288 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 41028B0093/00T000 | 697 m² | 1 · 120 m² | 7.9 m · 2 |
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