STEWICO
ActiveSummary
STEWICO has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.9m and a net result of €269,808. Equity is growing by ~7.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77=
Solvency98▲+5
Growth63=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €240,000 at 30 days acceptable
Liquidity ample (current ratio 5.07 against 4.07 in 2024; short-term debt: 5.4% and cash: 19.2% of total assets), and 27.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
72.9%
Return on assets
6.7%
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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
1 d early
2023
4 d early
2022
3 d late
2021
3 d early
2020
9 d late
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 10 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€824,217▼ 0.1%
2018 · €825,289
EBIT margin
36.1%▲ 26.6pp
2018 · 9.5%
Net result
€269,808▲ 6.8%
2024 · €252,550
Working capital
€885,222▲ 48.5%
2024 · €596,179
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
Turnover
Operating result€270,136▲ 3.1%€331,549▲ 22.7%€191,474▼ 42.2%€328,606▲ 71.6%€361,444▲ 10.0%
Net result€109,994▼ 26.0%€210,085▲ 91.0%€100,990▼ 51.9%€252,550▲ 150%€269,808▲ 6.8%
EBIT margin
Equity€2.1m▲ 4.0%€2.3m▲ 10.0%€2.4m▲ 4.4%€2.7m▲ 10.5%€2.9m▲ 10.1%
Total assets€4.1m▼ 4.0%€3.9m▼ 5.2%€3.8m▼ 2.5%€3.9m▲ 2.5%€4.0m▲ 3.1%
Debt€2.0m▼ 11.2%€1.6m▼ 21.0%€1.4m▼ 12.5%€1.2m▼ 11.3%€1.1m▼ 11.9%
Working capital-€174,417▲ 40.7%€202,822€341,733▲ 68.5%€596,179▲ 74.5%€885,222▲ 48.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2024 Net result +150% on 2023. Cause not known from the registers.
- 2023 Net result -52% on 2022. Cause not known from the registers.
- 2022 Net result +91% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 10% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€2.9m ▼ 6.1%
Current assets
€1.1m ▲ 39.5%
Equity and liabilities €4.0m
Equity
€2.9m ▲ 10.1%
Debt
€1.1m ▼ 11.9%
Debt's share of the balance-sheet total falls from 31.8% to 27.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€555,537▲
2024 · €521,846
Cash flow
€463,901▲
2024 · €445,790
Current ratio
5.07▲
2024 · 4.07
Debt to equity
0.37▼
2024 · 0.47
ROE
9.2%▼
2024 · 9.5%
ROA
6.7%▲
2024 · 6.5%
Interest coverage
33.71▲
2024 · 26.79
Debt ≤ 1 year
€217,323▲
2024 · €194,108
Debt > 1 year
€876,527▼
2024 · €1.0m
Income taxes
€115,102▲
2024 · €83,588
Staff costs
€9,763=
2024 · €9,763
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 20,082 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €47,764 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €19,526 | €19,526 | €9,763 | €9,763 | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €253,794 | €233,218 | €224,112 | €193,240 | €194,093 | ▲ 0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €70,262 | -€70,262 | - | - |
| Other operating charges640/8 | - | €1,400 | €3,035 | €73,262 | €1,869 | ▼ 97.4% |
| Gross operating margin9900 | €523,929 | €585,693 | €508,410 | €534,609 | €567,169 | ▲ 6.1% |
| Operating profit (loss)9901 | €270,136 | €331,549 | €191,474 | €328,606 | €361,444 | ▲ 10.0% |
| Financial income75/76B | - | - | - | €27,015 | €39,947 | ▲ 47.9% |
| Recurring financial income75 | - | - | - | €27,015 | €39,947 | ▲ 47.9% |
| Financial charges65/66B | €38,330 | €31,309 | €22,976 | €19,483 | €16,481 | ▼ 15.4% |
| Recurring financial charges65 | €38,330 | €31,309 | €22,976 | €19,483 | €16,481 | ▼ 15.4% |
| Profit (loss) for the period before taxes9903 | €231,806 | €300,240 | €168,497 | €336,139 | €384,910 | ▲ 14.5% |
| Income taxes67/77 | €121,812 | €90,155 | €67,508 | €83,588 | €115,102 | ▲ 37.7% |
| Profit (loss) for the period9904 | €109,994 | €210,085 | €100,990 | €252,550 | €269,808 | ▲ 6.8% |
| Profit (loss) for the period to be appropriated9905 | €109,994 | €210,085 | €100,990 | €252,550 | €269,808 | ▲ 6.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.1m | €3.9m | €3.8m | €3.9m | €4.0m | ▲ 3.1% |
| Fixed assets21/28 | €3.8m | €3.5m | €3.3m | €3.1m | €2.9m | ▼ 6.1% |
| Tangible fixed assets22/27 | €3.5m | €3.2m | €2.9m | €2.8m | €2.6m | ▼ 6.9% |
| Land and buildings22 | €3.5m | €3.1m | €2.9m | €2.8m | €2.6m | ▼ 6.6% |
| Furniture and vehicles24 | €43,649 | €24,526 | €16,781 | €9,036 | €1,291 | ▼ 85.7% |
| Financial fixed assets28 | €343,722 | €343,722 | €343,722 | €343,722 | €343,722 | = |
| Current assets29/58 | €289,305 | €412,773 | €522,524 | €790,288 | €1.1m | ▲ 39.5% |
| Amounts receivable within one year40/41 | €44,438 | €87,448 | €16,505 | €3,892 | €323,826 | ▲ 8,220% |
| Trade receivables40 | €44,438 | €87,448 | €9,013 | €3,892 | €10,018 | ▲ 157% |
| Other amounts receivable41 | - | - | €7,492 | - | €313,808 | - |
| Cash at bank and in hand54/58 | €244,633 | €325,092 | €505,761 | €786,123 | €774,486 | ▼ 1.5% |
| Deferred charges and accrued income490/1 | €234 | €232 | €258 | €273 | €4,234 | ▲ 1,454% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.1m | €3.9m | €3.8m | €3.9m | €4.0m | ▲ 3.1% |
| Equity10/15 | €2.1m | €2.3m | €2.4m | €2.7m | €2.9m | ▲ 10.1% |
| Contributions10/11 | €290,000 | €290,000 | €290,000 | €290,000 | €290,000 | = |
| Capital10 | €290,000 | €290,000 | €290,000 | €290,000 | €290,000 | = |
| Issued capital100 | €290,000 | €290,000 | €290,000 | €290,000 | €290,000 | = |
| Reserves13 | €1.0m | €1.2m | €1.3m | €1.6m | €1.8m | ▲ 17.1% |
| Non-distributable reserves130/1 | €29,000 | €29,000 | €29,000 | €29,000 | €29,000 | = |
| Legal reserve130 | €29,000 | €29,000 | €29,000 | €29,000 | €29,000 | = |
| Distributable reserves133 | €985,613 | €1.2m | €1.3m | €1.5m | €1.8m | ▲ 17.4% |
| Profit (loss) carried forward14 | €797,114 | €797,198 | €798,188 | €798,738 | €798,846 | = |
| Amounts payable17/49 | €2.0m | €1.6m | €1.4m | €1.2m | €1.1m | ▼ 11.9% |
| Amounts payable after more than one year17 | €1.6m | €1.4m | €1.2m | €1.0m | €876,527 | ▼ 16.3% |
| Financial debts170/4 | €1.6m | €1.4m | €1.2m | €1.0m | €876,527 | ▼ 16.3% |
| Amounts payable within one year42/48 | €463,722 | €209,951 | €180,791 | €194,108 | €217,323 | ▲ 12.0% |
| Current portion of amounts payable after more than one year42 | €173,191 | €171,191 | €171,191 | €171,191 | €171,191 | = |
| Trade debts44 | - | - | €582 | €1,591 | - | - |
| Suppliers440/4 | - | - | €582 | €1,591 | - | - |
| Taxes, remuneration and social security45 | €6,558 | €26,713 | - | €14,978 | €42,756 | ▲ 185% |
| Taxes450/3 | €6,558 | €26,713 | - | €14,978 | €42,756 | ▲ 185% |
| Other amounts payable47/48 | €283,973 | €12,047 | €9,018 | €6,348 | €3,377 | ▼ 46.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €109,994 | €210,085 | €100,990 | €252,550 | €269,808 | ▲ 6.8% |
| + Depreciation and write-downs630 | €253,794 | €233,218 | €224,112 | €193,240 | €194,093 | ▲ 0.4% |
| Operating cash flow (approximation) | €363,788 | €443,303 | €325,102 | €445,790 | €463,901 | ▲ 4.1% |
| Investment in fixed assets (approximation) | - | €105,127 | -€15,000 | -€20,153 | -€3,667 | ▲ 81.8% |
| Change in cash | - | €80,459 | €180,669 | €280,362 | -€11,638 | ▼ 104% |
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
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €269,808 ▲6.8%
Operating result €361,444, net result €269,808, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 1.97
Current ratio from 0.62 to 1.97; short-term debt falls from €463,722 to €209,951.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 9 days late
2020
31-12
Financial
Equity above €2mEq €2.0m ▲6.3%
3 profitable years in a row build equity to €2.0m.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Leuven · 1 establishment unit since 1997
Ground area
260 m²
Building footprint
99 m²
Volume, LiDAR
1,020 m³
Parcel 24504D0162/00F000, Flanders · tallest building 12.3 m, ±4 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
STEWICO NV
since 19972.080.995.636
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24504D0162/00F000 | Flanders | 260 m² | 1 · 99 m² | 12.3 m · 4 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.
Structure & network
Owners and holdings
2 owners · 1 holdingOwners 2
- Stefaan Declercknatural personSourceown accounts 202550%
- Wim Witvrouwnatural personSourceown accounts 202550%
Holdings 1
-
50%
According to the 2025 annual accounts of STEWICO and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPublic limited company
Founded12-12-1995
Fiscal year end31-12
Contact
Website
www.stewico.be
E-mail
wim.witvrouw@stewico.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456849016
Also
9925:BE0456849016
Registered
11-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.