ACTIVE

STAEL

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Financial year 2025 · closed on 31/12/2025

Net result

411,3 k €

-9.0% YoY

Gross margin

2,5 M €

+3.4% YoY

Equity

4,4 M €

+10.2% YoY

Workforce

9,8 ETP

-2.0% YoY

What does STAEL do?

STAEL is a Public limited company incorporated in 1975. Its registered office is in Brugge. It employs on average 9,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0415.560.866

Incorporation

01/12/1975

Legal form

Public limited company

Registered office

Katelijnestraat 4
8000 Brugge · FlandreSee on map

Contributed capital

75 000,00 €

Latest accounts

31/12/2025

Average workforce

9,8 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	2,5 M €	+3.4%	2,4 M €	+16.8%	2 M €	+20.1%	1,7 M €	+254%	480 k €	+1267%	35,1 k €	-97.9%	1,7 M €	+29.3%	1,3 M €	+5.5%	1,2 M €	+23.7%	985,8 k €	-24.9%	1,3 M €	+9.3%	1,2 M €	+16.3%	1 M €	-3.0%	1,1 M €	+14.5%	929,5 k €	+7.8%	862,3 k €	+7.3%	803,8 k €	+5.7%	760,2 k €	+9.6%	693,8 k €	-1.8%	706,2 k €
EBITDA	879,9 k €	+1.3%	868,3 k €	+15.0%	755,3 k €	+18.8%	635,8 k €	+1666%	36 k €	+113%	-287,7 k €	-146%	628,2 k €	+56.0%	402,6 k €	+9.4%	367,9 k €	+70.9%	215,3 k €	-56.9%	499,8 k €	+17.6%	424,9 k €	+27.4%	333,5 k €	-13.6%	386,2 k €	+5.1%	367,3 k €	+7.1%	342,9 k €	+5.5%	325 k €	-0.2%	325,7 k €	+17.6%	277,1 k €	-4.2%	289,3 k €
Operating result	569,4 k €	-7.9%	618,5 k €	+15.1%	537,4 k €	+26.5%	424,7 k €	+327%	-187,3 k €	+63.1%	-508,3 k €	-218%	430,8 k €	+109%	206,6 k €	-0.5%	207,7 k €	+35.6%	153,2 k €	-49.1%	301 k €	+24.7%	241,4 k €	+36.8%	176,4 k €	+14.9%	153,6 k €	-36.1%	240,2 k €	+13.5%	211,7 k €	-1.2%	214,2 k €	-0.4%	215 k €	+27.1%	169,2 k €	-7.0%	181,9 k €
Net result	411,3 k €	-9.0%	452,1 k €	+16.7%	387,6 k €	+14.5%	338,5 k €	+759%	-51,3 k €	+89.2%	-473,2 k €	-257%	301,8 k €	+165%	114,1 k €	-12.1%	129,8 k €	+39.3%	93,2 k €	-53.6%	200,8 k €	+50.0%	133,9 k €	+10.5%	121,1 k €	+21.4%	99,7 k €	-31.7%	146 k €	+96.6%	74,2 k €	-43.0%	130,3 k €	-19.8%	162,4 k €	+40.6%	115,5 k €	-3.9%	120,2 k €
Balance sheet
Equity	4,4 M €	+10.2%	4 M €	+12.6%	3,6 M €	+12.1%	3,2 M €	+11.8%	2,9 M €	-1.8%	2,9 M €	-14.0%	3,4 M €	+9.8%	3,1 M €	+3.8%	3 M €	+4.6%	2,8 M €	+3.4%	2,7 M €	+7.9%	2,5 M €	+5.6%	2,4 M €	+5.3%	2,3 M €	+4.6%	2,2 M €	+7.1%	2 M €	+3.8%	2 M €	+3.7%	1,9 M €	+9.3%	1,7 M €	+7.1%	1,6 M €
Total assets	4,9 M €	+7.2%	4,6 M €	+8.8%	4,2 M €	+9.5%	3,8 M €	+11.1%	3,4 M €	-2.1%	3,5 M €	-6.8%	3,8 M €	+7.8%	3,5 M €	+2.0%	3,4 M €	+2.8%	3,3 M €	+1.0%	3,3 M €	+4.8%	3,2 M €	+4.2%	3 M €	+2.7%	2,9 M €	+16.3%	2,5 M €	+5.3%	2,4 M €	+2.5%	2,3 M €	+4.2%	2,3 M €	+8.4%	2,1 M €	+4.6%	2 M €
Cash	1 M €	+11.1%	922,4 k €	+595%	132,8 k €	-1.0%	134,2 k €	+7.5%	124,8 k €	+15.5%	108,1 k €	-56.2%	247 k €	+84.4%	134 k €	+26.1%	106,2 k €	+9.3%	97,2 k €	-20.1%	121,5 k €	+67.5%	72,6 k €	-18.4%	89 k €	+203%	29,4 k €	-17.5%	35,6 k €	+68.1%	21,2 k €	-65.2%	60,8 k €	-79.7%	299,3 k €	+123%	134,5 k €	-63.0%	363,9 k €
Debts	264,7 k €	-21.1%	335,3 k €	-16.5%	401,7 k €	-2.8%	413,4 k €	+17.0%	353,5 k €	-2.6%	362,9 k €	+175%	132,2 k €	-10.0%	146,8 k €	-16.6%	176,1 k €	-10.0%	195,7 k €	-19.2%	242,1 k €	-12.6%	276,9 k €	-7.4%	299,1 k €	-7.9%	324,7 k €	+1337%	22,6 k €	-21.5%	28,8 k €	-7.3%	31 k €	+32.6%	23,4 k €	+1994%	1,1 k €	-92.4%	14,7 k €
Other
Workforce	9,8 ETP	-2.0%	10,0 ETP	+1.0%	9,9 ETP	+10.0%	9,0 ETP	+50.0%	6,0 ETP	0.0%	6,0 ETP	-37.5%	9,6 ETP	+9.1%	8,8 ETP	+14.3%	7,7 ETP	-6.1%	8,2 ETP	+3.8%	7,9 ETP	+3.9%	7,6 ETP	0.0%	7,6 ETP	+13.4%	6,7 ETP	+21.8%	5,5 ETP	+5.8%	5,2 ETP	+52.9%	3,4 ETP	-8.1%	3,7 ETP	+2.8%	3,6 ETP	-5.3%	3,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 10 ended

Active mandates

FRASA

Managing director · since 21 mars 1996 · 0445.811.010

Represented by Stael FRANC

Active

Georges Stael

Director · since 21 mars 1996

Active

Sonia Degrande

Director · since 21 mars 1996

Active

Ended mandates

Franc Stael

Director · since 22 mai 2009 · until 22 mai 2015

Ended

FRASA

Managing director · since 22 mai 2009 · until 22 mai 2015 · 0445.811.010

Represented by Franc Stael

Ended

Sonia Degrande

Director · since 22 mai 2009 · until 22 mai 2015

Ended

Franc Stael

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/06/2026	14/07/2025	02/07/2024	29/06/2023	20/07/2022	29/06/2021
General meeting	27/06/2026	28/06/2025	29/06/2024	24/06/2023	25/06/2022	26/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	27/06/2026	29/06/2026	Dutch	PDF
Abridged model	31/12/2024	28/06/2025	14/07/2025	Dutch	PDF
Abridged model	31/12/2023	29/06/2024	02/07/2024	Dutch	PDF
Abridged model	31/12/2022	24/06/2023	29/06/2023	Dutch	PDF
Abridged model	31/12/2021	25/06/2022	20/07/2022	Dutch	PDF
Abridged model	31/12/2020	26/06/2021	29/06/2021	Dutch	PDF
Abridged model	31/12/2019	27/06/2020	30/06/2020	Dutch	PDF
Abridged model	31/12/2018	29/06/2019	01/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	02/07/2018	Dutch	PDF
Abridged model	31/12/2016	24/06/2017	28/06/2017	Dutch	PDF
Abridged model	31/12/2015	25/06/2016	29/06/2016	Dutch	PDF
Abridged model	31/12/2014	27/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	28/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	29/06/2013	01/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	20/07/2012	Dutch	PDF
Abridged model	31/12/2010	25/06/2011	30/06/2011	Dutch	PDF
Abridged model	31/12/2009	26/06/2010	29/06/2010	Dutch	PDF
Abridged model	31/12/2008	26/06/2009	26/06/2009	Dutch	PDF
Abridged model	31/12/2007	28/06/2008	30/06/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	02/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 10 ended

Active mandates

FRASA

Managing director · since 21 mars 1996 · 0445.811.010

Represented by Stael FRANC

Active

Georges Stael

Director · since 21 mars 1996

Active

Sonia Degrande

Director · since 21 mars 1996

Active

Ended mandates

Franc Stael

Director · since 22 mai 2009 · until 22 mai 2015

Ended

FRASA

Managing director · since 22 mai 2009 · until 22 mai 2015 · 0445.811.010

Represented by Franc Stael

Ended

Sonia Degrande

Director · since 22 mai 2009 · until 22 mai 2015

Ended

Franc Stael

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/09/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/05/2009
DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2004
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025411,3 k €↓
2024
Annual accounts 2024452,1 k €↑
2023
Annual accounts 2023387,6 k €↑
2022
Annual accounts 2022338,5 k €↑
2021
Annual accounts 2021-51,3 k €↑
2020
Annual accounts 2020-473,2 k €↓
2019
Annual accounts 2019301,8 k €↑
2018
Annual accounts 2018114,1 k €↓
2017
Annual accounts 2017129,8 k €↑
2016
Annual accounts 201693,2 k €↓
2015
Annual accounts 2015200,8 k €↑
2014
Annual accounts 2014133,9 k €↑
2013
Annual accounts 2013121,1 k €↑
2012
Annual accounts 201299,7 k €↓
2011
Annual accounts 2011146 k €↑
2010
Annual accounts 201074,2 k €↓
2009
Annual accounts 2009130,3 k €↓
2008
Annual accounts 2008162,4 k €↑
2007
Annual accounts 2007115,5 k €↓
2006
Annual accounts 2006120,2 k €
01/12/1975
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

STAEL

Overview

What does STAEL do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline