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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Tight liquidity NBB
Cash and receivables cover 18 % of short-term debt in 2024; threshold 65 %.
Financials
Financial year 2024
STELIEFORM from Gistel, company number BE0826575602, closed financial year 2024 with a result of € -212,403 after tax. For that financial year STELIEFORM recorded a gross margin of € 1.7 million and equity of € -590,966. Compared with financial year 2023, the result moved from € -331,035 to € -212,403. The company made a loss. 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 July 19, 2025.
€ -590,966
▼ € 212,403 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -212,403
▲ 36 % less loss than in 2023
Profit after tax over the fiscal year.
€ 3,438
▼ 44% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.6 million.
People and assets in 2024
26.2
▼ 1.7 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▲ 3% vs 2023
€ 54,500 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.
€ 100,377
▼ 6% vs 2023
Of which on lease € 23,198.
Debts at end 2024
€ 2.8 million
▼ 2% vs 2023
€ 213,139 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 232,655
▼ 39% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 451,640
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € 1,583,117 | € 1,719,916 | € 1,495,371 | € 1,704,367 | ▲ 14% |
| Profit after taxes | € -20,090 | € 39,064 | € -331,035 | € -212,403 | ▲ € 118,632 |
| Equity | € -86,592 | € -47,528 | € -378,563 | € -590,966 | ▼ € 212,403 |
| Total debts | € 3,752,983 | € 3,913,530 | € 4,160,896 | € 4,006,370 | ▼ 4% |
| Cash | € 16,885 | € 4,197 | € 6,153 | € 3,438 | ▼ 44% |
| Land & buildings | € 2,311,437 | € 2,191,055 | € 2,082,849 | € 1,953,720 | ▼ 6% |
| Retained profit | € -1,086,592 | € -1,047,528 | € -1,378,563 | € -1,590,966 | ▼ € 212,403 |
| Bank debt | € 3,044,207 | € 2,962,166 | € 2,894,909 | € 2,847,504 | ▼ 2% |
| Balance sheet total | € 3,666,391 | € 3,866,002 | € 3,782,333 | € 3,415,404 | ▼ 10% |
| Employees (FTE) | 23.1 | 24.6 | 27.9 | 26.2 | ▼ 1.7 |
Key figures of STELIEFORM, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to STELIEFORM?
What happened at STELIEFORM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 212,403. Source: NBB ↗
- Lieven Van Massenhove became a director. NBB
- New establishment in Gistel. KBO
- Steven Van Massenhove became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 20,090 loss in 2021 to € 212,403 loss in 2024.
Paid € 10,450 in corporate taxes since 2021.
Best year ever: 2022, with € 39,064 profit.
On average € 65,100 of value added per employee in 2024.
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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 STELIEFORM are Lieven Van Massenhove and Steven Van Massenhove.
Directors
According to the 2024 annual accounts
Lieven Van Massenhove
Director
since 2019
Steven Van Massenhove
Director
since 2010
Establishments
Establishment units
Physical locations of this company
Konijnenboslaan 32
8470 Gistel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
HETZNER-AS, DE
Website info
Features
Security
Details
- Company number
- 0826.575.602
- VAT number
- BE 0826.575.602
- Registered office
- Konijnenboslaan 32, 8470 Gistel
- Names & denominations
- STELIEFORM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 June 2010
- Peppol
- Active · Active since 20 Nov 2025
- Contact
- stelieform.be
- Activities · NACE
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