Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2025.
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Busy address KBO
13 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
STALUSA from Elsene, company number BE0477445282, closed financial year 2025 with a result of € 3.2 million after tax. For that financial year STALUSA recorded a gross margin of € -590,910 and equity of € 190.5 million. Compared with financial year 2025, the result moved from € 41.7 million to € 3.2 million. The company is profitable. 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 August 31, 2026.
€ 190.5 million
▲ 2% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3.2 million
▼ 92% vs 2025
Profit after tax over the fiscal year.
€ 523,971
▼ 56% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 61.6 million.
People and assets in 2025
1.9
▼ 0.4 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 113,351
▼ 22% vs 2025
€ 59,700 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.
€ 101,454
▼ 4% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 19.1 million
▲ 1% vs 2025
€ 10,119 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 191,364
▲ € 177,860 vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 406,031
▼ 89% vs 2025
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | 2025 | Change 2025 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -171,796 | € 21,946 | € 39,714,025 | € -590,910 | ▼ € 40.3 million |
| Profit after taxes | € -3,635,334 | € 1,883,831 | € 41,677,546 | € 3,157,682 | ▼ 92% |
| Equity | € 172,063,268 | € 173,947,098 | € 187,339,645 | € 190,497,327 | ▲ 2% |
| Total debts | € 47,259,046 | € 42,765,206 | € 57,951,381 | € 28,159,528 | ▼ 51% |
| Cash | € 1,067,535 | € 1,045,270 | € 1,187,269 | € 523,971 | ▼ 56% |
| Land & buildings | € 8,317,228 | € 5,110,845 | € 4,743,349 | € 4,348,272 | ▼ 8% |
| Retained profit | € 14,872,368 | € 16,756,198 | € 58,433,745 | € 61,591,427 | ▲ 5% |
| Bank debt | € 29,264,638 | € 27,037,077 | € 18,961,998 | € 19,135,445 | ▲ 1% |
| Balance sheet total | € 219,341,008 | € 216,724,201 | € 245,296,124 | € 218,656,855 | ▼ 11% |
| Employees (FTE) | 2 | 1.6 | 2.3 | 1.9 | ▼ 0.4 |
Key figures of STALUSA, fiscal years 2023 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 STALUSA?
What happened at STALUSA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 41.7 million (▲ € 39.8 million vs 2024). filed late Source: NBB ↗
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 3.6 million loss in 2023 to € 3.2 million profit in 2025.
Paid € 1.7 million in corporate taxes since 2023.
Best year ever: 2025, with € 41.7 million profit.
On average € 17.3 million of value added per employee in 2025.
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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
Behind STALUSA are JACQUES EMSENS and STANISLAS EMSENS. It owns 100% of JPSEVEN, 100% of WARRIOR EQUATION, 50% of SEVEN HOLDING, 50% of Stalco, 40% of RAHET and 40% of TECHFUND itself.
Directors
According to the 2025 annual accounts
JACQUES EMSENS
Director
Also active at: Stevensvennen, JPK REAL ESTATE, PORTUGAL REAL ESTATE INVESTMENTS COMPANY, KERDI, WINE 292, SEVEN HOLDING, TECHFUND, ETALIAX +1 more
STANISLAS EMSENS
Director
Also active at: Société de Participations industrielles, Companions, PORTUGAL REAL ESTATE INVESTMENTS COMPANY
Establishments
Establishment units
Physical locations of this company
Louizalaan 292
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 13 companies are registered at this address.
All companies at this address →Institut Europeën d'Electronique EURELEC BENELUX
RAHET same network
€ -3,026 gross margin · 2025
Afriwise same network
€ -291,909 gross margin · 2025
JPK REAL ESTATE same network
€ -41,774 gross margin · 2025
ALPHASEED
€ -89,158 gross margin · 2021
+8 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
- 0477.445.282
- VAT number
- BE 0477.445.282
- Registered office
- Louizalaan 292, 1050 Elsene
- Names & denominations
- STALUSA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 April 2002
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Activiteiten van holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Holdings
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