STUART
ActiveSummary
STUART has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €259k and a net result of €39k. Equity is growing by ~4.1% per year across the filed fiscal years. Its solvency ranks better than 71% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▼-5
Solvency85▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 3.3 against 3.72 in 2024; short-term debt: 23% and cash: 32.6% of total assets), and 40.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
59.7%
Return on assets
9%
Age of the figures
12 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 05-05-2026, 5 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
5 d late
2024
19 d early
2023
1 d early
2022
34 d early
2021
2 d late
2020
4 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€259k▲ 17.7%
2024 · €220k
2018: €175k
2019: €180k▲ +2.6% vs 2018
2020: €151k▼ -16.1% vs 2019
2021: €142k▼ -5.8% vs 2020lowest in 8 years
2022: €161k▲ +13.0% vs 2021
2023: €167k▲ +4.1% vs 2022
2024: €220k▲ +31.7% vs 2023
2025: €259k▲ +17.7% vs 2024highest in 8 years
2018 → 2025
Total assets
€434k▲ 9.5%
2024 · €396k
2018: €533k
2019: €498k▼ -6.5% vs 2018
2020: €535k▲ +7.3% vs 2019highest in 8 years
2021: €482k▼ -9.8% vs 2020
2022: €461k▼ -4.4% vs 2021
2023: €417k▼ -9.4% vs 2022
2024: €396k▼ -5.1% vs 2023lowest in 8 years
2025: €434k▲ +9.5% vs 2024
2018 → 2025
Net result
€39k▼ 26.3%
2024 · €53k
2018: €4k
2019: €5k▲ +4.6% vs 2018
2020: €-29k▼ -729% vs 2019lowest in 8 years
2021: €35k▲ +220% vs 2020
2022: €43k▲ +22.9% vs 2021
2023: €55k▲ +28.5% vs 2022highest in 8 years
2024: €53k▼ -3.6% vs 2023
2025: €39k▼ -26.3% vs 2024
2018 → 2025
Working capital
€230k▲ 17.0%
2024 · €196k
2018: €175k
2019: €167k▼ -4.9% vs 2018
2020: €144k▼ -13.7% vs 2019lowest in 8 years
2021: €144k▲ +0.1% vs 2020
2022: €147k▲ +2.4% vs 2021
2023: €149k▲ +0.8% vs 2022
2024: €196k▲ +32.2% vs 2023
2025: €230k▲ +17.0% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€142k-€161k▲ 13.0%€167k▲ 4.1%€220k▲ 31.7%€259k▲ 17.7%
2021: €142klowest in 5 years
2022: €161k▲ +13.0% vs 2021
2023: €167k▲ +4.1% vs 2022
2024: €220k▲ +31.7% vs 2023
2025: €259k▲ +17.7% vs 2024highest in 5 years
Operating result€48k-€81k▲ 67.2%€92k▲ 13.3%€87k▼ 4.4%€66k▼ 24.6%
2021: €48klowest in 5 years
2022: €81k▲ +67.2% vs 2021
2023: €92k▲ +13.3% vs 2022highest in 5 years
2024: €87k▼ -4.4% vs 2023
2025: €66k▼ -24.6% vs 2024
Net result€35k-€43k▲ 22.9%€55k▲ 28.5%€53k▼ 3.6%€39k▼ 26.3%
2021: €35klowest in 5 years
2022: €43k▲ +22.9% vs 2021
2023: €55k▲ +28.5% vs 2022highest in 5 years
2024: €53k▼ -3.6% vs 2023
2025: €39k▼ -26.3% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 25% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €434k
Fixed assets
€104k ▼ 18.0%
Current assets
€329k ▲ 22.6%
Equity and liabilities €434k
Equity
€259k ▲ 17.7%
Debt
€175k ▼ 0.7%
Debt's share of the balance-sheet total falls from 44.5% to 40.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€89k▼
2024 · €110k
Cash flow
€62k▼
2024 · €76k
Current ratio
3.30▼
2024 · 3.72
Quick ratio
1.91▲
2024 · 1.83
Debt to equity
0.68▼
2024 · 0.80
ROE
15.1%▼
2024 · 24.0%
ROA
9.0%▼
2024 · 13.4%
Interest coverage
12.17▼
2024 · 12.56
Debt ≤ 1 year
€100k▲
2024 · €72k
Debt > 1 year
€75k▼
2024 · €103k
Income taxes
€20k▼
2024 · €26k
Staff costs
€40k▲
2024 · €31k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€396k€434k▲
Fixed assets21/28€127k€104k▼
Tangible fixed assets22/27€127k€104k▼
Land and buildings22€127k€104k▼
Current assets29/58€269k€329k▲
Stocks and contracts in progress3€136k€139k▲
Stocks30/36€136k€139k▲
Amounts receivable within one year40/41€21k€48k▲
Trade receivables40€4k€2k▼
Other amounts receivable41€18k€46k▲
Cash at bank and in hand54/58€110k€141k▲
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€396k€434k▲
Equity10/15€220k€259k▲
Contributions10/11€7k€7k=
Reserves13€213k€252k▲
Distributable reserves133€213k€252k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€176k€175k▼
Amounts payable after more than one year17€103k€75k▼
Financial debts170/4€103k€75k▼
Amounts payable within one year42/48€72k€100k▲
Current portion of amounts payable after more than one year42€28k€28k=
Trade debts44€12k€16k▲
Suppliers440/4€12k€16k▲
Taxes, remuneration and social security45€32k€55k▲
Taxes450/3€27k€48k▲
Remuneration and social security454/9€5k€7k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€315€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€31k€40k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€23k=
Other operating charges640/8€4k€5k▲
Gross operating margin9900€146k€133k▼
Operating profit (loss)9901€87k€66k▼
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€9k€7k▼
Recurring financial charges65€9k€7k▼
Profit (loss) for the period before taxes9903€79k€59k▼
Income taxes67/77€26k€20k▼
Profit (loss) for the period9904€53k€39k▼
Profit (loss) for the period to be appropriated9905€53k€39k▼
Appropriation of the result
Profit (loss) to be appropriated9906€53k€39k▼
Transfer from equity791/2€0-
Transfer to equity691/2€53k€39k▼
To other reserves6921€53k€39k▼
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €9k | €23k | €28k | €31k | €40k | ▲ 27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27k | €23k | €23k | €23k | €23k | = |
| Other operating charges640/8 | €3k | €4k | €4k | €4k | €5k | ▲ 13.1% |
| Gross operating margin9900 | €88k | €131k | €146k | €146k | €133k | ▼ 8.4% |
| Operating profit (loss)9901 | €48k | €81k | €92k | €87k | €66k | ▼ 24.6% |
| Financial income75/76B | €1k | €356 | €0 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €1k | €356 | €0 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €10k | €9k | €9k | €9k | €7k | ▼ 16.9% |
| Recurring financial charges65 | €10k | €9k | €9k | €9k | €7k | ▼ 16.9% |
| Profit (loss) for the period before taxes9903 | €39k | €72k | €82k | €79k | €59k | ▼ 25.4% |
| Income taxes67/77 | €5k | €29k | €27k | €26k | €20k | ▼ 23.6% |
| Profit (loss) for the period9904 | €35k | €43k | €55k | €53k | €39k | ▼ 26.3% |
| Transfer from tax-exempt reserves789 | - | €19k | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €35k | €61k | €55k | €53k | €39k | ▼ 26.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €482k | €461k | €417k | €396k | €434k | ▲ 9.5% |
| Fixed assets21/28 | €196k | €173k | €150k | €127k | €104k | ▼ 18.0% |
| Tangible fixed assets22/27 | €196k | €173k | €150k | €127k | €104k | ▼ 18.0% |
| Land and buildings22 | €196k | €173k | €150k | €127k | €104k | ▼ 18.0% |
| Current assets29/58 | €286k | €288k | €267k | €269k | €329k | ▲ 22.6% |
| Stocks and contracts in progress3 | €133k | €176k | €112k | €136k | €139k | ▲ 1.8% |
| Stocks30/36 | €133k | €176k | €112k | €136k | €139k | ▲ 1.8% |
| Amounts receivable within one year40/41 | €4k | €12k | €16k | €21k | €48k | ▲ 124% |
| Trade receivables40 | €1k | €4k | €4k | €4k | €2k | ▼ 55.3% |
| Other amounts receivable41 | €3k | €9k | €12k | €18k | €46k | ▲ 161% |
| Cash at bank and in hand54/58 | €148k | €98k | €138k | €110k | €141k | ▲ 28.8% |
| Deferred charges and accrued income490/1 | €824 | €2k | €2k | €1k | €1k | ▲ 3.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €482k | €461k | €417k | €396k | €434k | ▲ 9.5% |
| Equity10/15 | €142k | €161k | €167k | €220k | €259k | ▲ 17.7% |
| Contributions10/11 | €7k | €7k | €7k | €7k | €7k | = |
| Reserves13 | €135k | €154k | €160k | €213k | €252k | ▲ 18.3% |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Tax-exempt reserves132 | €19k | €0 | - | - | - | - |
| Distributable reserves133 | €114k | €151k | €160k | €213k | €252k | ▲ 18.3% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | - | - |
| Amounts payable17/49 | €340k | €300k | €250k | €176k | €175k | ▼ 0.7% |
| Amounts payable after more than one year17 | €188k | €160k | €132k | €103k | €75k | ▼ 27.3% |
| Financial debts170/4 | €188k | €160k | €132k | €103k | €75k | ▼ 27.3% |
| Amounts payable within one year42/48 | €142k | €140k | €119k | €72k | €100k | ▲ 37.8% |
| Current portion of amounts payable after more than one year42 | €28k | €28k | €28k | €28k | €28k | = |
| Trade debts44 | €22k | €19k | €8k | €12k | €16k | ▲ 40.7% |
| Suppliers440/4 | €22k | €19k | €8k | €12k | €16k | ▲ 40.7% |
| Taxes, remuneration and social security45 | €24k | €45k | €34k | €32k | €55k | ▲ 69.7% |
| Taxes450/3 | €23k | €40k | €28k | €27k | €48k | ▲ 78.2% |
| Remuneration and social security454/9 | €2k | €4k | €5k | €5k | €7k | ▲ 25.7% |
| Other amounts payable47/48 | €67k | €49k | €48k | €0 | - | - |
| Accrued charges and deferred income492/3 | €10k | €0 | - | €315 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €43k | €55k | €53k | €39k | ▼ 26.3% |
| + Depreciation and write-downs630 | €27k | €23k | €23k | €23k | €23k | = |
| Operating cash flow (approximation) | €62k | €66k | €78k | €76k | €62k | ▼ 18.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-50k | €39k | €-28k | €32k | ▲ 213% |
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
05-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
11-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €200kEq €220k ▲31.7%
4 profitable years in a row build equity to €220k.
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €55k ▲28.5%
Operating result €92k, net result €55k, both a record.
27-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €150kEq €161k ▲13%
2 profitable years in a row build equity to €161k.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-09
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Weakest financial yearnet €-29k
Net result drops to €-29k, the lowest in the series; recovery starts the following year.
28-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
23-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-04
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 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Nieuwpoort · 1 establishment unit since 2000
Ground area
182 m²
Building footprint
202 m²
Volume, LiDAR
2,940 m³
Parcel 38402D0392/00D000, Flanders · tallest building 21.0 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
STUART
since 20002.131.935.581
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38402D0392/00D000 | Flanders | 182 m² | 1 · 202 m² | 21.0 m · 6 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.
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Of 1,270 companies in sector 47512 we hold annual accounts for 581. 458 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-02-2000
Fiscal year end30-09
Activities, NACEBEL 2025
47512Retail sale of household textiles and bedding
47711Retail sale of women's outerwear
Scores and ratios are computed by Checked and are not a credit decision.