Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 156.3 to 135.1.
Financials
Financial year 2025
STACA from Kortenberg, company number BE0464829443, closed financial year 2025 with a result of € 2.5 million after tax. For that financial year STACA recorded revenue of € 15.2 million and equity of € 24.1 million. Compared with financial year 2024, the result moved from € 651,881 to € 2.5 million. Profitable, and profit is growing. 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 July 7, 2026.
€ 24.1 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.5 million
▲ 281% vs 2024
Profit after tax over the fiscal year.
€ 1,111
▲ € 1,020 vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 745,000 paid out
30 % of the profit went to the shareholders, mostly to KEOLIS VLAANDEREN (100 % of the shares). That is where the money ends up.
People and assets in 2025
135.1
▼ 15.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 9 million
▼ 8% vs 2024
€ 66,600 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.
€ 11.6 million
▲ € 9.9 million vs 2024
Of which on lease € 11.1 million.
Debts at end 2025
€ 11.2 million
▲ € 8.9 million vs 2024
€ 1.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 298,405
▼ 50% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 22 days on average.
€ 1.4 million
▼ 24% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 16,581,905 | € 16,891,968 | € 17,375,693 | € 15,203,031 | ▼ 13% |
| Profit after taxes | € 1,102,541 | € 2,093,246 | € 651,881 | € 2,486,893 | ▲ 281% |
| Equity | € 36,797,370 | € 21,750,615 | € 22,402,496 | € 24,144,390 | ▲ 8% |
| Total debts | € 11,045,599 | € 20,967,708 | € 5,150,044 | € 13,890,038 | ▲ 170% |
| Cash | € 576 | € 260 | € 91 | € 1,111 | ▲ € 1,020 |
| Land & buildings | € 20,619 | € 17,997 | € 15,375 | € 5,836,753 | ▲ € 5.8 million |
| Retained profit | € 36,732,370 | € 21,685,615 | € 22,337,496 | € 24,079,390 | ▲ 8% |
| Dividend | € 6,400,000 | € 17,140,000 | € 0 | € 745,000 | |
| Bank debt | € 1,443,610 | € 1,159,952 | € 2,222,475 | € 11,165,611 | ▲ € 8.9 million |
| Balance sheet total | € 47,859,221 | € 42,718,323 | € 27,552,540 | € 38,034,427 | ▲ 38% |
| Employees (FTE) | 167.1 | 156.3 | 150.6 | 135.1 | ▼ 15.5 |
Key figures of STACA, 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 STACA?
What happened at STACA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Maarten Voetelink stepped down as director. NBB
- Philippe DOCX stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 2.5 million (▲ 281% vs 2024). Source: NBB ↗
- DIVO Management GCV stepped down as director. NBB
- Maarten Voetelink became a director. NBB
- CREAD BV stepped down as director. NBB
- Philippe DOCX became a director. NBB
- DIVO Management GCV became a director. NBB
In short
From € 1.1 million profit in 2022 to € 2.5 million profit in 2025.
Paid € 1.5 million in corporate taxes since 2022.
Best year ever: 2025, with € 2.5 million profit.
Paid out € 24.3 million in dividends to the owners in total.
Management
The shares are held by KEOLIS VLAANDEREN (100%).
Directors
According to the 2025 annual accounts
Maarten Voetelink
Director
Also active at: Modern Toerisme, AUTOBUS DONY, HEYERICK, Autobussen De Reys, Van Rompaye, RENIERS & C°, GINO - TOURS, EUROBUSSING WALLONIE +6 more
since 2025 · until 2028
Director · represented by vertegenwoordigd door Vochten Dirk
Also active at: Modern Toerisme, FLANDERS BUS
since 2023 · until 2026
Philippe DOCX
Director
Also active at: Modern Toerisme, HEYERICK, Garage du Perron, T.C.M. Cars, Keolis Travel, Autobussen De Reys, Compagnie des Autobus liégeois, Van Rompaye +10 more
since 2024 · until 2027
Director · represented by vertegenwoordigd door HELLEMANS Dirk
Also active at: Modern Toerisme, AUTOBUS DONY, HEYERICK, Autobussen De Reys, Van Rompaye, RENIERS & C°, GINO - TOURS, CINTRA - LANDEN +4 more
since 2023 · until 2025
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Leuvensesteenweg 89
3070 Kortenberg
Wijgmaalsesteenweg 30
3012 Leuven
Active since 1 November 2015
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0464.829.443
- VAT number
- BE 0464.829.443
- Registered office
- Leuvensesteenweg 89, 3070 Kortenberg
- Names & denominations
- STACA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 December 1998
- Peppol
- Active · Active since 2 Sept 2023
- Activities · NACE
Personenvervoer over de weg volgens dienstregeling
Overige adviesbureaus op het gebied van bedrijfsvoering en beheer
Activiteiten van holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Personenvervoer over de weg zonder dienstregeling
Managementactiviteiten van holdings
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Overig personenvervoer te land, n.e.g.
+1