Checked.be
Active
BE 0465.277.524Private limited company
Stipa
Baron de Gieylaan 85 ·9840 Nazareth-De Pinte, Belgium· 27 yrs active
Sector: Agents in non-specialised wholesale trade
(46190)
Conclusion
Stipa has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €437k and a net result of €51k. Equity is growing by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 46% of 10963 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €437k |
| Net result | €51k |
| Better than sector | 46% |
| Active | 27 yrs |
Financial profile
71
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
61
Profitability
58
Solvency
58
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1999, 27 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
61
/ 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
€25k
estimate, not credit advice
Score history
65
2021
91
2022
71
2023
89
2024
61
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.93 (< 1.0)
-10
Leverage
Debt/equity 1.54 (< 2.0)
+3
Profitability
ROE 12% (≥ 10%)
+10
Interest coverage
Interest coverage 8.0× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-12-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~51% of the level (threshold 35%). We therefore deliberately show no projection line.
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 46, Wholesale trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 37.4% | 42.5% | |
| Net result | €51k | €6k | |
| Equity | €437k | €60k | |
| Gross operating margin | €157k | €29k | |
| Total assets | €1.17M | €175k |
€275k
-
21-25
€151k
-19.2%
21-25
€51k
-38.4%
21-25
€113k
-15.6%
21-25
€1.17M
+0.8%
21-25
€437k
+7.5%
21-25
€-16k
-
21-25
€25k
-33.4%
21-25
€21k
-
21-25
€674k
-2.9%
21-25
€231k
+28.1%
21-25
€430k
-9.2%
21-25
0.93
-19.1%
21-25
0.93
-19.1%
21-25
37.4%
+6.6%
21-25
1.54
-9.7%
21-25
11.7%
-42.7%
21-25
4.4%
-38.9%
21-25
33.9%
-
21-25
61.6%
-
21-25
7.96
-12.1%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | €275k | - |
| EBITDA | €151k | €187k | €133k | €169k | €193k |
| Net profit | €51k | €83k | €30k | €93k | €-192k |
| Cash flow | €113k | €134k | €106k | €154k | €-163k |
| Staff costs | - | - | - | - | - |
| Income taxes | €25k | €37k | €10k | €4k | €278 |
| Dividends | €21k | €0 | €800 | - | - |
| Total assets | €1.17M | €1.16M | €1.14M | €1.02M | €754k |
| Equity | €437k | €406k | €318k | €288k | €391k |
| Debt | €674k | €694k | €760k | €665k | €295k |
| of which ≤ 1y | €231k | €180k | €215k | €242k | €75k |
| of which > 1y | €430k | €474k | €516k | €405k | €204k |
| Working capital | €-16k | €27k | €37k | €83k | €200k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.93 | 1.15 | 1.17 | 1.34 | 3.66 |
| Quick ratio | 0.93 | 1.15 | 1.17 | 1.34 | 3.66 |
| Working capital ratio | -1.4% | 2.3% | 3.3% | 8.1% | 26.5% |
| Solvency | 37.4% | 35.0% | 27.8% | 28.2% | 51.9% |
| Debt / equity | 1.54 | 1.71 | 2.39 | 2.31 | 0.52 |
| Long-term debt ratio | 0.98 | 1.17 | 1.62 | 1.41 | 0.52 |
| Interest coverage | 7.96 | 9.07 | 7.03 | 14.25 | - |
| Gross margin | - | - | - | 59.7% | - |
| Net margin | - | - | - | 33.9% | - |
| ROA | 4.4% | 7.1% | 2.7% | 9.1% | -25.5% |
| ROE | 11.7% | 20.4% | 9.5% | 32.3% | -49.1% |
| EBITDA margin | - | - | - | 61.6% | - |
| Days sales outstanding | - | - | - | 48d | - |
| Days payable outstanding | - | - | - | 12d | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (27 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.17M | €1.16M | €1.14M | €1.02M | €754k |
| Fixed assets | 21/28 | €955k | €953k | €891k | €696k | €478k |
| Tangible fixed assets | 22/27 | €953k | €952k | €889k | €694k | €476k |
| Financial fixed assets | 28 | €2k | €2k | €2k | €2k | €2k |
| Current assets | 29/58 | €214k | €207k | €253k | €325k | €275k |
| Amounts receivable within one year | 40/41 | €960 | €4k | - | €36k | - |
| Investments | 50/53 | €55k | €53k | €241k | €20k | €220k |
| Cash & bank | 54/58 | €154k | €141k | €8k | €264k | €51k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.17M | €1.16M | €1.14M | €1.02M | €754k |
| Equity | 10/15 | €437k | €406k | €318k | €288k | €391k |
| Contributions / capital | 10/11 | €200k | €200k | €200k | €200k | - |
| Reserves | 13 | €237k | €227k | €178k | €148k | €187k |
| Accumulated profits (losses) | 14 | €0 | €-21k | €-60k | €-60k | €-192k |
| Provisions & deferred taxes | 16 | €59k | €60k | €67k | €67k | €68k |
| Amounts payable | 17/49 | €674k | €694k | €760k | €665k | €295k |
| Amounts payable after one year | 17 | €430k | €474k | €516k | €405k | €204k |
| Amounts payable within one year | 42/48 | €231k | €180k | €215k | €242k | €75k |
| Trade debts payable within one year | 44 | €2k | €4k | €983 | €4k | €4k |
| Income statement | ||||||
| Turnover | 70 | - | - | - | €275k | - |
| Gross operating margin | 9900 | €157k | €194k | €137k | €177k | €198k |
| Operating result | 9901 | €89k | €136k | €57k | €108k | €164k |
| Financial income | 75 | €4k | €3k | €1k | €494 | €6 |
| Financial charges | 65 | €19k | €21k | €19k | €12k | €8k |
| Result before taxes | 9903 | €75k | €119k | €39k | €97k | €156k |
| Income taxes | 67/77 | €25k | €37k | €10k | €4k | €278 |
| Net result for the period | 9904 | €51k | €83k | €30k | €93k | €156k |
| Result to be appropriated | 9905 | €55k | €87k | €32k | €132k | €156k |
Legal Structure
| NACE primary | Agents in non-specialised wholesale trade(46190) |
| Legal form | Private limited company(610) |
| Incorporation | 18-01-1999 |
| Status | Active |
| Postal code | 9840 |
Establishment units
Koning Albertlaan 69, 9000 Gent
since 19992.090.826.486
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44012B0203/00W002 | Flanders | 886 m² | 1 · 155 m² | 7.0 m · 2 fl. |
| 44809I0775/00M010 | Flanders | 123 m² | 1 · 123 m² | 16.4 m · 5 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 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
2025
09-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
15-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €93k
Net result €93k after one loss-making year.
18-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
11-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
07-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-12
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.
Belgian State Gazette reading coverage
We know of 5 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
Agents in non-specialised wholesale trade46190
Names & trade names
| Legal nameNL | Stipa |
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