Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 32 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
15 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
STEPHEX STABLES from Meise, company number BE0477214858, closed financial year 2025 with a result of € 945,134 after tax. For that financial year STEPHEX STABLES recorded revenue of € 130.9 million and equity of € 32.6 million. Compared with financial year 2024, the result moved from € 703,234 to € 945,134. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on March 9, 2026.
€ 32.6 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 945,134
▲ 34% vs 2024
Profit after tax over the fiscal year.
€ 680,885
▼ 66% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 350,000 paid out
37 % of the profit went to the shareholders, mostly to STEPHEX HOLDING (100 % of the shares). That is where the money ends up.
People and assets in 2025
26.2
▼ 1.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▼ 7% vs 2024
€ 60,600 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.
€ 2.4 million
▲ 37% vs 2024
Of which on lease € 838,947.
Debts at end 2025
€ 29.1 million
▼ 33% vs 2024
€ 590,165 is repaid this year. At this pace the long-term loan is gone in ≈ 37 years.
€ 42.8 million
▲ 37% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 117 days on average.
€ 756,003
▲ 107% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 128,510,790 | € 145,596,949 | € 142,343,978 | € 130,921,442 | ▼ 8% |
| Profit after taxes | € 6,530,121 | € 3,781,645 | € 703,234 | € 945,134 | ▲ 34% |
| Equity | € 27,841,768 | € 31,623,414 | € 31,976,648 | € 32,571,781 | ▲ 2% |
| Total debts | € 60,128,414 | € 72,440,116 | € 83,244,217 | € 79,821,687 | ▼ 4% |
| Cash | € 2,345,424 | € 875,489 | € 1,990,095 | € 680,885 | ▼ 66% |
| Land & buildings | € 235,730 | € 191,032 | € 147,579 | € 117,376 | ▼ 20% |
| Retained profit | € 26,779,768 | € 30,561,414 | € 30,914,648 | € 31,509,781 | ▲ 2% |
| Dividend | € 0 | € 0 | € 350,000 | € 350,000 | |
| Bank debt | € 9,733,831 | € 30,430,909 | € 43,165,703 | € 29,069,497 | ▼ 33% |
| Balance sheet total | € 88,395,182 | € 104,488,530 | € 115,395,864 | € 112,568,469 | ▼ 2% |
| Employees (FTE) | 0.1 | 18.4 | 27.9 | 26.2 | ▼ 1.7 |
Key figures of STEPHEX STABLES, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to STEPHEX STABLES?
What happened at STEPHEX STABLES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Stephex and Co nv stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 945,134 (▲ 34% vs 2024). Source: NBB ↗
- Stephex and Co nv became a director. NBB
- New establishment in Meise. KBO
- Start of the company according to the CBE. KBO
In short
From € 6.5 million profit in 2022 to € 945,134 profit in 2025.
Paid € 3.7 million in corporate taxes since 2022.
Best year ever: 2022, with € 6.5 million profit.
Paid out € 700,000 in dividends to the owners in total.
Management
The stake of STEPHEX HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
STEPHEX STABLESThe shares are held by STEPHEX HOLDING (99.8%).
Directors
According to the 2025 annual accounts
Director · represented by Stephan Conter
since 2023 · until 2029
Shareholders
99.8%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Lovegemstraat 8
1861 Meise
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 15 companies are registered at this address.
All companies at this address →Lieve Vrouwenhof Ruiters
The Pony Club of Belgium
STEPHEX and C° same network
€ 4.3 million gross margin · 2025
THADDEUS et Cie
€ 347,294 gross margin · 2025
STEPHEX SERVICE
€ 296,782 gross margin · 2025
+10 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0477.214.858
- VAT number
- BE 0477.214.858
- Registered office
- Lovegemstraat 8, 1861 Meise
- Names & denominations
- STEPHEX STABLES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 March 2002
- Peppol
- Active · Active since 9 Jan 2026
- Activities · NACE
Fokken en houden van paarden en andere paardachtigen
Schapen-, geiten-, paarden-, ezel-, muildieren- of muilezelhouderij
Groothandel in aanhangwagens, opleggers en caravans
Groothandel in levende dieren
Handel in aanhangwagens, opleggers en caravans
Handelsbemiddeling in de groothandel in andere specifieke goederen
Groothandel in levend vee
Africhten van huisdieren
+11