Active BE 0733.953.765Private limited company

STONEFISH

Hopstraat(Kor) 16 ·8500 Kortrijk, Belgium· 6 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

STONEFISH is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2026 annual accounts show equity of €5k and a net result of €71k. Equity is shrinking by ~38.3% per year across the filed fiscal years. Its solvency ranks better than 9% of 80 sector peers (fiscal year 2026). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€5k
Net result	€71k
Better than sector	9%
Active	6 yrs

Financial profile 4 of 5 axes measured · computed by Checked

68 / 100

Strong profile, led by profitability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 100

Solvency 13

Growth 58

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2019, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

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

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview7 NBB filings

Annual accounts filed on 25-08-2026 with the NBB · fiscal year 2026 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~38.3%/year over 5 fiscal years, indicative, assuming unchanged policy.

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 2026 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	5.2%	61.1%	better than 9% of 80 sector peers
Net result	€71k	€47k	better than 65% of 80 sector peers
Equity	€5k	€146k	better than 8% of 80 sector peers
Gross operating margin	€100k	€87k	better than 60% of 80 sector peers
Total assets	€95k	€380k	better than 14% of 80 sector peers

Net profit

€71k

+15.4% 22-26

Total assets

€95k

+21.5% 22-26

Equity

€5k

0.0% 22-26

Income taxes

€26k

+16.0% 22-26

Dividends

€71k

+15.4% 22-26

Debt

€90k

+22.9% 22-26

Debt ≤ 1y

€90k

+22.9% 22-26

Solvency

5.2%

-17.7% 22-26

ROE

1424.7%

+15.4% 22-26

ROA

74.7%

-5.0% 22-26

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2026	2025	2024	2023	2022
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€71k	€62k	€57k	€37k	€34k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	-	-	-	-
Income taxes	€26k	€22k	€21k	€11k	€6k
Dividends	€71k	€62k	€114k	€2k	€2k
Total assets	€95k	€79k	€132k	€86k	€81k
Equity	€5k	€5k	€5k	€62k	€26k
Debt	€90k	€74k	€127k	€24k	€55k
of which ≤ 1y	€90k	€74k	€127k	€24k	€55k
of which > 1y	-	-	-	-	-
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2026	2025	2024	2023	2022
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	5.2%	6.4%	3.8%	71.7%	32.2%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	74.7%	78.6%	43.3%	43.3%	42.2%
ROE	1424.7%	1235.0%	1139.5%	60.4%	131.1%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2026

Assets

Fixed assets €10k · 10.9% Current assets €85k · 89.1%

Equity & liabilities

Equity €5k · 5.2% Debt €90k · 94.8%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2026	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€95k	€79k	€132k	€86k	€81k
Fixed assets	21/28	€10k	€7k	€11k	€22k	€33k
Tangible fixed assets	22/27	€10k	€7k	€11k	€22k	€33k
Current assets	29/58	€85k	€72k	€121k	€64k	€48k
Amounts receivable within one year	40/41	€16k	€39k	€17k	€13k	€21k
Cash & bank	54/58	€67k	€30k	€103k	€50k	€26k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€95k	€79k	€132k	€86k	€81k
Equity	10/15	€5k	€5k	€5k	€62k	€26k
Contributions / capital	10/11	€5k	€5k	€5k	€5k	€5k
Reserves	13	-	-	€0	€57k	€21k
Accumulated profits (losses)	14	€0	€0	€0	€0	€0
Amounts payable	17/49	€90k	€74k	€127k	€24k	€55k
Amounts payable within one year	42/48	€90k	€74k	€127k	€24k	€55k
Trade debts payable within one year	44	€5k	€1k	€2k	€3k	€476
Income statement
Gross operating margin	9900	€100k	€90k	€90k	€62k	€52k
Operating result	9901	€97k	€85k	€78k	€49k	€40k
Financial income	75	€0	€188	€25	-	-
Financial charges	65	€55	€2k	€397	€757	€134
Result before taxes	9903	€97k	€84k	€78k	€48k	€40k
Income taxes	67/77	€26k	€22k	€21k	€11k	€6k
Net result for the period	9904	€71k	€62k	€57k	€37k	€34k
Result to be appropriated	9905	€71k	€62k	€57k	€37k	€34k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	11-09-2019
Status	Active
Postal code	8500

Establishment units 1 location

STONEFISH

Hopstraat(Kor) 16, 8500 KortrijkHoldings

since 20192.293.501.454

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
34354C0163/00Z000	Flanders	723 m²	1 · 144 m²	9.2 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 7 events

All 9Financial 2Filings 7

Next filing, fiscal year 2027, expected by 31-01-2028

2026

25-08

NBB filing Annual accounts filed

fiscal year 2026 · micro schema

30-06

Financial Highest result since 2022net €71k ▲15.4%

Operating result €97k, net result €71k, both a record.

2025

17-09

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2024

05-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

30-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

30-06

Financial Liquidity triplescurrent ratio 2.62

Current ratio from 0.88 to 2.62; short-term debt falls from €55k to €24k.

2022

28-11

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

28-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

28-01

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies64210Business and other management consultancy70200Business consulting70220

Names & trade names

Legal nameNL

STONEFISH

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