Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 4 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
STIMAR from Knokke-Heist, company number BE0769754683, closed financial year 2025 with a result of € 31,358 after tax. For that financial year STIMAR recorded a gross margin of € 220,914 and equity of € -6,242. Compared with financial year 2024, the result moved from € -22,929 to € 31,358. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on December 15, 2025.
€ -6,242
▲ € 31,358 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 31,358
▲ still € 22,929 loss in 2024
Profit after tax over the fiscal year.
€ 9,741
▲ 122% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -10,242.
People and assets in 2025
€ 72,549
▲ 2% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 1.8 million
▼ 4% vs 2024
€ 93,388 is repaid this year. At this pace the long-term loan is gone in ≈ 19 years.
€ 8,606
▲ 129% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 8,893
▼ 33% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 105,973 | € 144,960 | € 153,564 | € 220,914 | ▲ 44% |
| Profit after taxes | € -49,871 | € 31,200 | € -22,929 | € 31,358 | ▲ € 54,287 |
| Equity | € -45,871 | € -14,671 | € -37,600 | € -6,242 | ▲ € 31,358 |
| Total debts | € 1,187,151 | € 1,136,680 | € 2,060,259 | € 1,986,402 | ▼ 4% |
| Cash | € 1,634 | € 19,288 | € 4,388 | € 9,741 | ▲ 122% |
| Land & buildings | € 1,124,738 | € 1,099,163 | € 2,001,968 | € 1,964,874 | ▼ 2% |
| Retained profit | € -49,871 | € -18,671 | € -41,600 | € -10,242 | ▲ € 31,358 |
| Bank debt | € 835,142 | € 920,718 | € 1,841,208 | € 1,770,122 | ▼ 4% |
| Balance sheet total | € 1,141,280 | € 1,122,009 | € 2,022,659 | € 1,980,160 | ▼ 2% |
Key figures of STIMAR, 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 January 2027.
What happened to STIMAR?
What happened at STIMAR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 31,358. Source: NBB ↗
- New establishment in Knokke-Heist. KBO
- Davy Stichelbaut became a director. NBB
- Philippe Stichelbaut became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 49,871 loss in 2022 to € 31,358 profit in 2025.
Best year ever: 2025, with € 31,358 profit.
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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 STIMAR are Davy Stichelbaut and Philippe Stichelbaut. The same people are also behind STICHELBAUT.
Directors
According to the 2025 annual accounts
since 2021
since 2021
Establishments
Establishment units
Physical locations of this company
't Walletje 27
8300 Knokke-Heist
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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.
Details
- Company number
- 0769.754.683
- VAT number
- BE 0769.754.683
- Registered office
- 't Walletje 27, 8300 Knokke-Heist
- Names & denominations
- STIMAR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 16 June 2021
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Handel in eigen onroerend goed
Vermogensbeheer
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen