ACTIVE

MICHEL STALS

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Financial year 2025 · closed on 31/12/2025

Net result

125,9 k €

+30.3% YoY

Gross margin

217,7 k €

+3.9% YoY

Equity

356,6 k €

+7.5% YoY

What does MICHEL STALS do?

MICHEL STALS is a Private limited company incorporated in 1991. Its main activity is: Dental practice activities. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0443.825.577

Incorporation

28/03/1991

Legal form

Private limited company

Registered office

Avenue de la Paix 2
4030 Liège · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

86230Dental practice activities· main 86230Dental practice activities

Joint committees (1)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	217,7 k €	+3.9%	209,6 k €	+270%	56,7 k €	-17.4%	68,7 k €	-69.1%	222,4 k €	+20.9%	184 k €	-22.5%	237,4 k €	+4.2%	227,9 k €	+284%	-124,2 k €	-150%	246 k €	+5.4%	233,4 k €	+34.9%	173 k €	+4.2%	166,1 k €	+17.7%	141,2 k €	+2.6%	137,7 k €	-2.8%	141,6 k €	-13.0%	162,8 k €	+4.8%	155,3 k €	-0.1%	155,6 k €	+24.0%	125,4 k €
EBITDA	201,3 k €	+25.8%	160,1 k €	+481%	27,6 k €	-27.0%	37,8 k €	-81.1%	199,8 k €	+20.9%	165,3 k €	-23.2%	215,4 k €	+4.7%	205,7 k €	+240%	-146,6 k €	-164%	230 k €	-0.9%	232 k €	+35.3%	171,5 k €	+4.9%	163,5 k €	+17.7%	138,9 k €	+1.8%	136,5 k €	-3.1%	140,8 k €	-12.6%	161,2 k €	+4.3%	154,6 k €	-0.1%	154,8 k €	+24.1%	124,7 k €
Operating result	190,3 k €	+28.4%	148,3 k €	+11166%	1,3 k €	-66.0%	3,9 k €	-97.7%	170,6 k €	+23.8%	137,8 k €	-26.8%	188,1 k €	+2.5%	183,6 k €	+204%	-176,8 k €	-190%	195,8 k €	+2.2%	191,6 k €	+48.1%	129,4 k €	-5.2%	136,5 k €	+13.2%	120,6 k €	+2.7%	117,4 k €	-2.5%	120,4 k €	-13.7%	139,5 k €	+4.9%	133 k €	+0.9%	131,8 k €	+19.8%	110 k €
Net result	125,9 k €	+30.3%	96,6 k €	+3283%	-3 k €	-136%	8,4 k €	-92.2%	108,8 k €	+14.5%	95,1 k €	-26.6%	129,4 k €	-27.0%	177,4 k €	+199%	-178,5 k €	-252%	117,8 k €	+4.1%	113,2 k €	+48.1%	76,4 k €	-19.0%	94,3 k €	+17.2%	80,5 k €	+118%	36,9 k €	-54.2%	80,6 k €	-12.3%	91,9 k €	-0.6%	92,5 k €	+6.5%	86,9 k €	+15.2%	75,4 k €
Balance sheet
Equity	356,6 k €	+7.5%	331,7 k €	-9.1%	364,9 k €	-4.6%	382,4 k €	+5.5%	362,4 k €	-1.9%	369,6 k €	-3.9%	384,5 k €	+16.5%	330,1 k €	+116%	152,7 k €	-53.9%	331,2 k €	+55.2%	213,4 k €	+113%	100,2 k €	+321%	23,8 k €	-76.1%	99,5 k €	+422%	19,1 k €	-80.4%	97,2 k €	+486%	16,6 k €	-85.5%	114,7 k €	+416%	22,2 k €	-76.7%	95,4 k €
Total assets	468,5 k €	-4.1%	488,6 k €	+19.4%	409,2 k €	-4.8%	429,9 k €	-16.9%	517,5 k €	-2.6%	531,4 k €	+1.0%	526,1 k €	+48.9%	353,4 k €	+81.7%	194,5 k €	-52.3%	407,4 k €	+33.3%	305,6 k €	+61.3%	189,4 k €	-21.5%	241,4 k €	+77.2%	136,2 k €	-7.4%	147,2 k €	+6.5%	138,2 k €	-47.0%	260,9 k €	+41.6%	184,3 k €	-16.9%	221,6 k €	+92.2%	115,3 k €
Cash	47,1 k €	-75.8%	194,5 k €	+201%	64,6 k €	+333%	14,9 k €	-40.2%	25 k €	-57.3%	58,4 k €	+72.2%	33,9 k €	+53.3%	22,1 k €	-2.4%	22,7 k €	-19.2%	28,1 k €	+11.0%	25,3 k €	-12.5%	28,9 k €	+22.4%	23,6 k €	-9.0%	26 k €	-63.7%	71,5 k €	+1.8%	70,2 k €	-13.6%	81,2 k €	-7.0%	87,3 k €	+650%	11,6 k €	-36.0%	18,2 k €
Debts	111,9 k €	-28.7%	156,9 k €	+255%	44,2 k €	-6.9%	47,5 k €	-69.4%	155,1 k €	-4.1%	161,8 k €	+14.3%	141,6 k €	+506%	23,4 k €	-44.1%	41,8 k €	-45.2%	76,2 k €	-17.3%	92,2 k €	+3.4%	89,2 k €	-59.0%	217,5 k €	+492%	36,7 k €	-71.3%	128,1 k €	+213%	41 k €	-83.2%	244,3 k €	+251%	69,6 k €	-65.1%	199,4 k €	+899%	20 k €
Other
Workforce	–		–		–		25 844,0 ETP	+3691900%	0,7 ETP	0.0%	0,7 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

Michel STALS

Mandate

Active

Ended mandates

Jean-Claude HARDY

Associate

Ended

Michel Monsieur STALS

Manager

Ended

Michel STALS

Director

Ended

Michel STALS

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
IMMO DE LA PAIX● Active	0765.615.357

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro 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	28/08/2026	30/08/2025	29/08/2024	29/08/2023	30/08/2022	30/06/2021
General meeting	31/07/2026	29/08/2025	26/08/2024	23/08/2023	09/08/2022	28/05/2021
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
Micro model	31/12/2025	31/07/2026	28/08/2026	French	PDF
Micro model	31/12/2024	29/08/2025	30/08/2025	French	PDF
Micro model	31/12/2023	26/08/2024	29/08/2024	French	PDF
Abridged model	31/12/2022	23/08/2023	29/08/2023	French	PDF
Abridged model	31/12/2021	09/08/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	28/05/2021	30/06/2021	French	PDF
Micro model	31/12/2019	02/09/2020	21/10/2020	French	PDF
Micro model	31/12/2018	14/06/2019	26/08/2019	French	PDF
Micro model	31/12/2017	08/06/2018	20/08/2018	French	PDF
Micro model	31/12/2016	09/06/2017	28/08/2017	French	PDF
Abridged model	31/12/2015	10/06/2016	25/08/2016	French	PDF
Abridged model	31/12/2014	12/06/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	13/06/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	14/06/2013	27/08/2013	French	PDF
Abridged model	31/12/2011	21/08/2012	24/08/2012	French	PDF
Abridged model	31/12/2010	10/06/2011	30/08/2011	French	PDF
Abridged model	31/12/2009	09/08/2010	26/08/2010	French	PDF
Abridged model	31/12/2008	12/06/2009	26/08/2009	French	PDF
Abridged model	31/12/2007	14/08/2008	25/08/2008	French	PDF
Abridged model	31/12/2006	08/06/2007	30/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 active · 4 ended

Active mandates

Michel STALS

Mandate

Active

Ended mandates

Jean-Claude HARDY

Associate

Ended

Michel Monsieur STALS

Manager

Ended

Michel STALS

Director

Ended

Michel STALS

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/11/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Capital / shares30/04/2004
ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025125,9 k €↑
2025
Name changeMICHEL STALS
2024
Annual accounts 202496,6 k €↑
2023
Annual accounts 2023-3 k €↓
2023
Name changeSTALS Michel
2022
Annual accounts 20228,4 k €↓
2021
Annual accounts 2021108,8 k €↑
2021
Name changeSTALS
2020
Annual accounts 202095,1 k €↓
2019
Annual accounts 2019129,4 k €↓
2018
Annual accounts 2018177,4 k €↑
2017
Annual accounts 2017-178,5 k €↓
2016
Annual accounts 2016117,8 k €↑
2015
Annual accounts 2015113,2 k €↑
2014
Annual accounts 201476,4 k €↓
2013
Annual accounts 201394,3 k €↑
2012
Annual accounts 201280,5 k €↑
2011
Annual accounts 201136,9 k €↓
2010
Annual accounts 201080,6 k €↓
2009
Annual accounts 200991,9 k €↓
2008
Annual accounts 200892,5 k €↑
2007
Annual accounts 200786,9 k €↑
2006
Annual accounts 200675,4 k €
28/03/1991
IncorporationPrivate 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

MICHEL STALS

Overview

What does MICHEL STALS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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