Checked.be
Active
BE 0807.937.249Private limited company
STILCO
Sur le Plain(ANT) 3 ·4520 Wanze, Belgium· 17 yrs active
Sector: Insulation installation
(43230)
Conclusion
STILCO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €205k and a net result of €-2k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 39% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €205k |
| Net result | €-2k |
| Staff (FTE) | 2 |
| Better than sector | 39% |
Financial profile
60
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
63
Profitability
0
Solvency
78
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2008, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
63
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€13k
estimate, not credit advice
Score history
48
2022
66
2023
87
2024
63
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 6.21 (≥ 1.5)
+10
Quick ratio
Quick ratio 6.20 (≥ 1.0)
+5
Leverage
Debt/equity 1.81 (< 2.0)
+3
Profitability
Negatieve ROE -1%
-10
Interest coverage
Interest coverage 5.7× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 24-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 4 fiscal years (±2.1%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 35.5% | 44.0% | |
| Net result | €-2k | €30k | |
| Equity | €205k | €276k | |
| Gross operating margin | €80k | €275k | |
| Staff costs | €39k | €244k |
€38k
-35.6%
22-25
€-2k
-
22-25
€19k
-27.8%
22-25
€577k
-3.2%
22-25
€205k
-1.9%
22-25
€389k
+3.2%
22-25
2
+150.0%
22-25
€39k
-15.5%
22-25
€673
-4.3%
22-25
€372k
-3.9%
22-25
€75k
+50.4%
22-25
€297k
-11.9%
22-25
6.21
-27.7%
22-25
6.20
-27.3%
22-25
35.5%
+1.3%
22-25
1.81
-2.0%
22-25
-1.0%
-
22-25
-0.4%
-
22-25
5.71
+41.9%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | €38k | €59k | €22k | €-2k |
| Net profit | €-2k | €4k | €-10k | €-29k |
| Cash flow | €19k | €26k | €6k | €-10k |
| Staff costs | €39k | €46k | €38k | €34k |
| Income taxes | €673 | €703 | €585 | €556 |
| Dividends | - | - | - | - |
| Total assets | €577k | €596k | €620k | €586k |
| Equity | €205k | €209k | €207k | €220k |
| Debt | €372k | €387k | €412k | €366k |
| of which ≤ 1y | €75k | €50k | €63k | €46k |
| of which > 1y | €297k | €337k | €338k | €314k |
| Working capital | €389k | €376k | €404k | €419k |
| Employees (FTE) | 2.0 | - | 0.8 | 0.8 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 6.21 | 8.59 | 7.41 | 10.16 |
| Quick ratio | 6.20 | 8.53 | 7.34 | 10.07 |
| Working capital ratio | 67.4% | 63.2% | 65.2% | 71.5% |
| Solvency | 35.5% | 35.1% | 33.5% | 37.5% |
| Debt / equity | 1.81 | 1.85 | 1.99 | 1.66 |
| Long-term debt ratio | 1.45 | 1.61 | 1.63 | 1.43 |
| Interest coverage | 5.71 | 4.03 | 1.65 | -0.16 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -0.4% | 0.6% | -1.7% | -4.9% |
| ROE | -1.0% | 1.8% | -5.1% | -13.1% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €577k | €596k | €620k | €586k |
| Fixed assets | 21/28 | €114k | €170k | €152k | €121k |
| Tangible fixed assets | 22/27 | €114k | €170k | €152k | €121k |
| Current assets | 29/58 | €463k | €426k | €467k | €465k |
| Stocks & contracts in progress | 3 | €536 | €3k | €4k | €4k |
| Amounts receivable within one year | 40/41 | €295k | €196k | €141k | €69k |
| Investments | 50/53 | - | €11k | €110k | €165k |
| Cash & bank | 54/58 | €6k | €6k | €8k | €11k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €577k | €596k | €620k | €586k |
| Equity | 10/15 | €205k | €209k | €207k | €220k |
| Contributions / capital | 10/11 | €250k | €250k | €250k | €250k |
| Reserves | 13 | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €-56k | €-54k | €-57k | €-47k |
| Amounts payable | 17/49 | €372k | €387k | €412k | €366k |
| Amounts payable after one year | 17 | €297k | €337k | €338k | €314k |
| Amounts payable within one year | 42/48 | €75k | €50k | €63k | €46k |
| Trade debts payable within one year | 44 | €11k | €7k | €24k | €2k |
| Income statement | |||||
| Gross operating margin | 9900 | €80k | €113k | €68k | €34k |
| Operating result | 9901 | €17k | €37k | €6k | €-21k |
| Financial income | 75 | €2k | €2k | €2k | €10k |
| Financial charges | 65 | €7k | €15k | €14k | €15k |
| Result before taxes | 9903 | €-1k | €4k | €-10k | €-28k |
| Income taxes | 67/77 | €673 | €703 | €585 | €556 |
| Net result for the period | 9904 | €-2k | €4k | €-10k | €-29k |
| Result to be appropriated | 9905 | €-2k | €4k | €-10k | €-29k |
Legal Structure
| NACE primary | Insulation installation(43230) |
| Legal form | Private limited company(610) |
| Incorporation | 24-11-2008 |
| Status | Active |
| Postal code | 4520 |
Establishment units
Sur le Plain(ANT) 3, 4520 Wanze
since 20092.175.150.764
Rue d'Amérique 14, 4500 Huy
since 20092.236.541.668
Real-estate footprint
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61005B0450/00F000 | Wallonia | 1,163 m² | 1 · 188 m² | - |
| 61322A1463/10M000indicative | Wallonia | 190 m² | 1 · 44 m² | 9.9 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Insulation installation43230Specialised construction activities43291Property management for co-owned buildings (syndics)68321Buying and selling of own real estate68110Real estate activities68322Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameFR | STILCO |
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