Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Shrinking team NBB
FTE fell two years in a row, from 276.1 to 219.9.
Financials
Financial year 2025
ST Engineering iDirect (Europe) CY from Sint-Niklaas, company number BE0426702802, closed financial year 2025 with a result of € -47 million after tax. For that financial year ST Engineering iDirect (Europe) CY recorded revenue of € 50.4 million and equity of € 31.8 million. Compared with financial year 2024, the result moved from € -5.7 million to € -47 million. The company made a loss. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 30, 2026.
€ 31.8 million
▲ 56% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -47 million
▼ 723 % more loss than in 2024
Profit after tax over the fiscal year.
€ 14.9 million
▲ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -38 million.
People and assets in 2025
219.9
▼ 17 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 24.3 million
▼ 3% vs 2024
€ 110,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 85,733
▼ 80% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 17.4 million
▼ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 145 days on average.
€ 4.1 million
▼ 5% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 86,081,106 | € 86,099,370 | € 85,557,522 | € 50,401,625 | ▼ 41% |
| Profit after taxes | € -23,166,038 | € 1,117,136 | € -5,712,228 | € -46,991,301 | ▼ € 41.3 million |
| Equity | € 25,005,664 | € 26,122,799 | € 20,410,571 | € 31,819,270 | ▲ 56% |
| Total debts | € 124,240,237 | € 131,954,480 | € 120,387,001 | € 43,635,860 | ▼ 64% |
| Cash | € 16,296,193 | € 8,238,413 | € 11,890,406 | € 14,930,477 | ▲ 26% |
| Land & buildings | € 4,965,790 | € 4,744,023 | € 4,836,484 | € 4,711,145 | ▼ 3% |
| Retained profit | € 24,807,264 | € 25,924,399 | € 20,212,171 | € -38,024,706 | ▼ € 58.2 million |
| Bank debt | € 95,140 | € 53,756 | € 20,642 | € 0 | ▼ 100% |
| Balance sheet total | € 150,493,154 | € 158,524,729 | € 141,525,110 | € 75,832,114 | ▼ 46% |
| Employees (FTE) | 278.1 | 276.1 | 236.9 | 219.9 | ▼ 17 |
Key figures of ST Engineering iDirect (Europe) CY, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ST Engineering iDirect (Europe) CY?
What happened at ST Engineering iDirect (Europe) CY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Sridhar Kuppanna stepped down as director. NBB
- Koenraad Coeman stepped down as director. NBB
- Sophie Loh Zi Mi stepped down as director. NBB
- Fremac BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 47 million. Source: NBB ↗
- PwC Bedrijfsrevisoren BV (B 00009) stepped down as director. NBB
- Don Claussen stepped down as director. NBB
- Sridhar Kuppanna became a director. NBB
In short
From € 23.2 million loss in 2022 to € 47 million loss in 2025.
Paid € 659,925 in corporate taxes since 2022.
Best year ever: 2023, with € 1.1 million profit.
Pays suppliers within 145 days on average.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by St Engineering iDirect (Europe) NV (100%). It owns 100% of Newtec Satcom s.à.r.l., 100% of Newtec America Inc., 100% of TurboConcept SARL, 100% of Sarl Newtec, 100% of Newtec Communications GmbH and 89.5% of Newtec América do Sul Equipamentos e Soluçoes por Satélite Ltda itself.
Directors
According to the 2025 annual accounts
PwC Bedrijfsrevisoren BV (B 00009)
Registered auditor · represented by Kathleen (A02566) Verlinden
Also active at: Vacances Soralia -Territoire de Liège - Réseau Solidaris, JEUNESSE ET CULTURE-RESEAU SOLIDARIS, S.A. ISTA N.V., Toshiba Global Commerce Solutions (Benelux), SIEMENS INDUSTRY SOFTWARE, FINANCES ET INDUSTRIES, KraussMaffei Group Benelux, Retravailler-Centre d'Insertion Socioprofessionnelle de Soralia Liège- réseau Solidaris +5 more
since 2023 · until 2026
Jo De Loor
Director
since 2022 · until 2025
Koenraad Coeman
Director
since 2026 · until 2032
since 2023 · until 2029
Don Claussen
Director
since 2023 · until 2026
Director · represented by Frédéric Vandingenen
since 2020 · until 2026
since 2026 · until 2032
Shareholders
Participations
Newtec Satcom s.à.r.l.
100%
Newtec America Inc.
100%
TurboConcept SARL
100%
Sarl Newtec
100%
Newtec Communications GmbH
100%
Newtec América do Sul Equipamentos e Soluçoes por Satélite Ltda
89.5%
Establishments
Establishment units
Physical locations of this company
Laarstraat 5
9100 Sint-Niklaas
Joseph Cardijnstraat 10
9420 Erpe-Mere
Active since 29 February 2008
Hoogkamerstraat 42
9100 Sint-Niklaas
Active since 21 January 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
CLOUDFLARESPECTRUM Cloudflare, Inc., US
Domain
Domain
idirect.net
Registered
1995-04-12
Registrar
Gandi SAS
Expires
2028-04-13
Website info
Features
Security
Network
Details
- Company number
- 0426.702.802
- VAT number
- BE 0426.702.802
- Registered office
- Laarstraat 5, 9100 Sint-Niklaas
- Names & denominations
- ST Engineering iDirect (Europe) CY
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 January 1985
- Peppol
- Active · Active since 14 Nov 2025
- Contact
- idirect.net 866.345.0983
- Activities · NACE
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