Stageco Belgium
ActiveSummary
Stageco Belgium has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.91M and a net result of €1.42M. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 36% of 435 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▼-8
Solvency53▼-15
Growth35▼-41
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
Liquidity ample (current ratio 1.55 against 2.12 in 2024; short-term debt: 62.2% and cash: 47.7% of total assets), but 71.7% of the assets are financed with debt.
Credit advice for your own amount and term
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Sector 77
higher
← fewer bankruptcies
more bankruptcies →
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
28.3%
Return on assets
10.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-09-2026, 32 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
32 d late
2024
61 d late
2023
142 d late
2022
85 d late
2021
44 d late
2020
31 d late
2019
61 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€33.15M▼ 42.5%
2024 · €57.64M
2018: €28.90M
2019: €38.61M
2020: €4.47M
2021: €7.53M
2022: €47.06M
2023: €47.67M
2024: €57.64M
2018 → 2025
EBIT margin
6.8%▼ 2.4pp
2024 · 9.1%
2018: 12.6%
2019: 12.0%
2020: -32.9%
2021: 16.7%
2022: 10.7%
2023: 7.8%
2024: 9.1%
2018 → 2025
Net result
€1.42M▼ 63.2%
2024 · €3.86M
2018: €2.47M
2019: €3.20M
2020: €-1.15M
2021: €1.26M
2022: €3.57M
2023: €2.71M
2024: €3.86M
2018 → 2025
Working capital
€4.71M▼ 37.8%
2024 · €7.58M
2018: €3.80M
2019: €5.03M
2020: €3.14M
2021: €6.86M
2022: €4.99M
2023: €5.60M
2024: €7.58M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€7.53M-€47.06M▲ 525%€47.67M▲ 1.3%€57.64M▲ 20.9%€33.15M▼ 42.5%
Equity€4.79M-€2.91M▼ 39.3%€5.62M▲ 93.1%€6.48M▲ 15.4%€3.91M▼ 39.8%
Operating result€1.26M-€5.02M▲ 299%€3.71M▼ 26.1%€5.25M▲ 41.8%€2.24M▼ 57.4%
Net result€1.26M-€3.57M▲ 183%€2.71M▼ 24.0%€3.86M▲ 42.6%€1.42M▼ 63.2%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 57% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.82M
Fixed assets
€521k ▼ 11.5%
Current assets
€13.30M ▼ 7.4%
Equity and liabilities €13.82M
Equity
€3.91M ▼ 39.8%
Provisions
€519k ▲ 9.8%
Debt
€9.40M ▲ 17.6%
Debt's share of the balance-sheet total rises from 53.5% to 68.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.44M▼
2024 · €5.46M
Cash flow
€1.62M▼
2024 · €4.07M
Current ratio
1.55▼
2024 · 2.12
Debt to equity
2.41▲
2024 · 1.23
ROE
36.4%▼
2024 · 59.6%
ROA
10.3%▼
2024 · 25.8%
Interest coverage
88804.30
Debt ≤ 1 year
€8.60M▲
2024 · €6.78M
Income taxes
€709k▼
2024 · €1.40M
Staff costs
€6.30M▼
2024 · €6.38M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 73 lines
Balance sheet
Code20242025
Assets
Total assets20/58€14.95M€13.82M▼
Fixed assets21/28€589k€521k▼
Intangible fixed assets21€6k€3k▼
Tangible fixed assets22/27€581k€515k▼
Plant, machinery and equipment23€93k€90k▼
Furniture and vehicles24€428k€369k▼
Other tangible fixed assets26€59k€56k▼
Financial fixed assets28€3k€3k=
Other financial fixed assets284/8€3k€3k=
Amounts receivable and cash guarantees285/8€3k€3k=
Current assets29/58€14.36M€13.30M▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€6.53M€4.03M▼
Trade receivables40€6.08M€3.79M▼
Other amounts receivable41€442k€236k▼
Cash at bank and in hand54/58€7.34M€6.60M▼
Deferred charges and accrued income490/1€498k€2.67M▲
Equity and liabilities
Total equity and liabilities10/49€14.95M€13.82M▼
Equity10/15€6.48M€3.91M▼
Contributions10/11€1.26M€1.26M=
Capital10€1.26M€1.26M=
Issued capital100€1.26M€1.26M=
Reserves13€163k€163k=
Non-distributable reserves130/1€126k€126k=
Legal reserve130€126k€126k=
Distributable reserves133€37k€37k=
Profit (loss) carried forward14€5.06M€2.49M▼
Provisions and deferred taxes16€473k€519k▲
Provisions for liabilities and charges160/5€473k€519k▲
Other liabilities and charges164/5€473k€519k▲
Amounts payable17/49€7.99M€9.40M▲
Amounts payable within one year42/48€6.78M€8.60M▲
Trade debts44€5.74M€3.47M▼
Suppliers440/4€5.74M€3.47M▼
Taxes, remuneration and social security45€1.03M€1.11M▲
Taxes450/3€123k€343k▲
Remuneration and social security454/9€902k€766k▼
Other amounts payable47/48€24k€4.02M▲
Accrued charges and deferred income492/3€1.21M€803k▼
Income statement
Code20242025
Operating income70/76A€58.25M€34.73M▼
Turnover70€57.64M€33.15M▼
Other operating income74€582k€1.56M▲
Non-recurring operating income76A€22k€11k▼
Operating charges60/66A€52.99M€32.49M▼
Goods for resale, raw materials and consumables60€41.74M€22.19M▼
Purchases600/8€41.74M€22.19M▼
Services and other goods61€4.43M€3.67M▼
Remuneration, social security and pensions62€6.38M€6.30M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€209k€199k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0€60k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€200k€46k▼
Other operating charges640/8€24k€19k▼
Operating profit (loss)9901€5.25M€2.24M▼
Financial income75/76B€155k€21k▼
Recurring financial income75€155k€21k▼
Income from current assets751€37€37▲
Other financial income752/9€155k€21k▼
Financial charges65/66B€151k€129k▼
Recurring financial charges65€147k€128k▼
Debt charges650€0€27▲
Other financial charges652/9€147k€128k▼
Non-recurring financial charges66B€4k€380▼
Profit (loss) for the period before taxes9903€5.26M€2.13M▼
Income taxes67/77€1.40M€709k▼
Taxes670/3€1.40M€709k▼
Tax adjustments and reversals of tax provisions77€173€0▼
Profit (loss) for the period9904€3.86M€1.42M▼
Profit (loss) for the period to be appropriated9905€3.86M€1.42M▼
Appropriation of the result
Profit (loss) to be appropriated9906€8.06M€6.49M▼
Profit (loss) brought forward from the previous period14P€4.20M€5.06M▲
Profit to be distributed694/7€3.00M€4.00M▲
Return on contributions (dividend)694€3.00M€4.00M▲
Social balance
Average headcount (FTE)908775.173.4▼
The notes to these accounts (65 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 32 days late
12-08
State Gazette act
Permanent representatives: Frank Vandelanotte and Günther AdinsResignation: Maria De Rijck (director)4 facts ▸
State Gazette act
Permanent representatives: Frank Vandelanotte and Günther Adins
Resignation: Maria De Rijck (director)4 facts ▸
- General meeting, 06/01/2026
- Permanent representative, Frank Vandelanotte (representative)
- Permanent representative, Günther Adins (representative)
- Director resignation, Maria De Rijck (director)
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
31-12
Financial
Highest result since 2018net €3.86M ▲42.6%
Operating result €5.25M, net result €3.86M, both a record.
20-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 142 days late
2023
31-12
Financial
Equity above €5MEq €5.62M ▲93.1%
3 profitable years in a row build equity to €5.62M.
24-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 85 days late
2022
13-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 44 days late
2021
31-12
Financial
Back to profitnet €1.26M
Net result €1.26M after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €-1.15M ▼136%
Net result drops to €-1.15M, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 4.36
Current ratio from 2.18 to 4.36; short-term debt falls from €4.28M to €933k.
Show earlier events
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 61 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-12-2025
Resigned as Director
Location & real-estate footprint
Registered office, Haacht · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Klein Terbankstraat(TIL) 653150 HaachtGround area
10.9 ha
Building footprint
1.9 ha
Volume, LiDAR
152,858 m³
Parcel 24108B0394/00L000, Flanders · tallest building 18.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Klein Terbankstraat(TIL) 65, 3150 Haacht
since 19982.089.412.266
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24108B0394/00L000 | Flanders | 10.9 ha | 1 · 1.9 ha | 18.9 m · 3 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 3,067 EUR awarded · 3,067 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,022 EUR | 1,022 EUR |
| 2024 | 1 | 852 EUR | 852 EUR |
| 2023 | 1 | 1,193 EUR | 1,193 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 881 companies in sector 77229 we hold annual accounts for 319. 80 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-11-1998
Fiscal year end31-12
Activities, NACEBEL 2025
77229Renting and leasing of other personal and household goods
90393Specialised image, lighting and sound technical services
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.