ACTIVE

STALUSA

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Financial year 2025 · closed on 31/12/2025

Net result

3,2 M €

-92.4% YoY

Gross margin

-590,9 k €

-101.5% YoY

Equity

190,5 M €

+1.7% YoY

Workforce

1,9 ETP

-17.4% YoY

What does STALUSA do?

STALUSA is a Private limited company incorporated in 2002. Its main activity is: Activities of holding companies. Its registered office is in Ixelles. It employs on average 1,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.445.282

Incorporation

30/04/2002

Legal form

Private limited company

Registered office

Avenue Louise 292
1050 Ixelles · BruxellesSee on map

Contributed capital

128 905 900,00 €

Latest accounts

31/12/2025

Average workforce

1,9 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-590,9 k €	-101%	39,7 M €	+180864%	21,9 k €	+113%	-171,8 k €	-159%	289 k €	-87.5%	2,3 M €	+1375%	-181,5 k €	-1261%	-13,3 k €	+95.9%	-326,3 k €	-58.9%	-205,4 k €	-478%	54,4 k €	-81.4%	292,6 k €	-38.2%	473,8 k €	-26.2%	642 k €	+22.6%	523,6 k €	+39.4%	375,7 k €	-2.5%	385,3 k €	+24.8%	308,7 k €	+23.5%	250 k €
EBITDA	-751,5 k €	-102%	39,5 M €	+29340%	-134,9 k €	+76.0%	-563,3 k €	-508%	137,9 k €	-93.8%	2,2 M €	+966%	-257,5 k €	-394%	-52,1 k €	+85.7%	-364,2 k €	-62.6%	-224 k €	-619%	43,1 k €	-84.7%	281 k €	-39.0%	460,4 k €	+187%	-528,6 k €	-203%	514,5 k €	+39.1%	369,9 k €	-2.7%	380,1 k €	+25.6%	302,7 k €	+25.1%	242 k €
Operating result	-1,1 M €	-103%	39 M €	+6411%	-617,2 k €	+46.7%	-1,2 M €	-159%	-447,1 k €	-141%	1,1 M €	+187%	-1,3 M €	-202%	-413,9 k €	+34.2%	-629,3 k €	-28.7%	-489,1 k €	-119%	-223 k €	-1083%	22,7 k €	-89.1%	207,9 k €	+125%	-823,8 k €	-361%	315,5 k €	+30443%	1 k €	-99.6%	270,7 k €	+30.1%	208,1 k €	+32.9%	156,5 k €
Net result	3,2 M €	-92.4%	41,7 M €	+2112%	1,9 M €	+152%	-3,6 M €	-377%	1,3 M €	-83.0%	7,7 M €	+546%	-1,7 M €	-171%	2,5 M €	+2840%	83,4 k €	-94.1%	1,4 M €	+11.5%	1,3 M €	-50.7%	2,6 M €	+474%	450,1 k €	+290%	-237,4 k €	-135%	684,8 k €	+236%	204 k €	-55.1%	453,9 k €	+941%	43,6 k €	-29.2%	61,6 k €
Balance sheet
Equity	190,5 M €	+1.7%	187,3 M €	+7.7%	173,9 M €	+1.1%	172,1 M €	-2.1%	175,7 M €	+0.8%	174,4 M €	+4.6%	166,7 M €	+42.9%	116,6 M €	+2.1%	114,2 M €	+0.1%	114,1 M €	+1.3%	112,7 M €	+2.7%	109,7 M €	+2.4%	107,1 M €	+24.2%	86,3 M €	-0.3%	86,5 M €	+73.7%	49,8 M €	+0.4%	49,6 M €	+0.9%	49,1 M €	+36626%	133,8 k €
Total assets	218,7 M €	-10.9%	245,3 M €	+13.2%	216,7 M €	-1.2%	219,3 M €	-0.5%	220,5 M €	-2.5%	226,1 M €	+2.5%	220,6 M €	+32.1%	167 M €	+2.6%	162,7 M €	+11.2%	146,4 M €	+4.9%	139,5 M €	+1.8%	137 M €	+0.6%	136,3 M €	+22.9%	110,9 M €	+0.6%	110,2 M €	+48.3%	74,3 M €	+5.1%	70,7 M €	+0.4%	70,5 M €	+5095%	1,4 M €
Cash	524 k €	-55.9%	1,2 M €	+13.6%	1 M €	-2.1%	1,1 M €	+20.9%	883 k €	-18.9%	1,1 M €	-2.4%	1,1 M €	-28.4%	1,6 M €	-57.5%	3,7 M €	+70.5%	2,1 M €	+43.4%	1,5 M €	+222%	466 k €	-43.6%	826 k €	+1685%	46,3 k €	-83.1%	274,3 k €	-69.2%	891,2 k €	-35.4%	1,4 M €	-29.0%	1,9 M €	+3135%	60,1 k €
Debts	28,1 M €	-51.5%	57,9 M €	+35.5%	42,7 M €	-9.5%	47,2 M €	+6.3%	44,4 M €	-13.6%	51,4 M €	-4.1%	53,6 M €	+7.2%	50,1 M €	+3.9%	48,2 M €	+50.6%	32 M €	+20.5%	26,6 M €	-1.7%	27 M €	-6.3%	28,8 M €	+17.8%	24,5 M €	+3.8%	23,6 M €	-3.2%	24,4 M €	+16.1%	21 M €	-1.3%	21,2 M €	+1645%	1,2 M €
Other
Workforce	1,9 ETP	-17.4%	2,3 ETP	+43.7%	1,6 ETP	-20.0%	2,0 ETP	+11.1%	1,8 ETP	-10.0%	2,0 ETP	-9.1%	2,2 ETP	+100%	1,1 ETP	+57.1%	0,7 ETP	-12.5%	0,8 ETP	+60.0%	0,5 ETP		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 1 ended

Active mandates

JACQUES EMSENS

Director

Active

STANISLAS EMSENS

Director

Active

Ended mandates

JACQUES EMSENS

Manager

Ended

At this address

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Afriwise● Active	0679.799.160
ALPHASEED● Bankrupt	0734.906.147
ALPHA THAI BENELUX● Bankrupt	0740.461.970
ALPHA THAI BRUXELLES● Bankrupt	0743.388.105
Eiger TAA SPV● Active	1033.830.354
Institut Europeën d'Electronique EURELEC BENELUX● Active	0403.126.951
JPK REAL ESTATE● Active	0707.700.023
JPSeven● Active	0897.003.441
RAHET● Active	0457.376.576
SEVEN HOLDING● Active	0787.246.555
SLS 2● Active	1024.383.247
StalCo● Active	1013.559.631
Team B Stables● Active	0745.371.952
TECHFUND● Active	0832.460.037

Annual accounts

Full financial information

	2025	2025	2024	2023	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/04/2025	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/12/2025	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	9 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	30/10/2025	30/10/2024	30/10/2023	03/11/2022	30/09/2021
General meeting	26/08/2026	22/10/2025	28/10/2024	27/10/2023	28/10/2022	28/09/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/08/2026	31/08/2026	Dutch	PDF
Abridged modelCorrection	31/03/2025	22/10/2025	30/10/2025	Dutch	PDF
Abridged model	31/03/2025	22/10/2025	24/10/2025	Dutch	PDF
Abridged model	31/03/2024	28/10/2024	30/10/2024	Dutch	PDF
Abridged model	31/03/2023	27/10/2023	30/10/2023	Dutch	PDF
Abridged model	31/03/2022	28/10/2022	03/11/2022	Dutch	PDF
Abridged model	31/03/2021	28/09/2021	30/09/2021	Dutch	PDF
Abridged model	31/03/2020	14/10/2020	21/10/2020	Dutch	PDF
Abridged model	31/03/2019	26/09/2019	26/09/2019	Dutch	PDF
Abridged model	31/03/2018	27/09/2018	28/09/2018	Dutch	PDF
Abridged model	31/03/2017	01/06/2017	26/07/2017	Dutch	PDF
Abridged model	31/03/2016	02/06/2016	12/10/2016	Dutch	PDF
Abridged model	31/03/2015	04/06/2015	30/11/2015	Dutch	PDF
Abridged model	31/03/2014	05/06/2014	31/10/2014	Dutch	PDF
Abridged model	31/03/2013	06/08/2013	05/11/2013	Dutch	PDF
Abridged model	31/03/2012	07/08/2012	26/11/2012	Dutch	PDF
Abridged model	31/03/2011	02/08/2011	07/11/2011	Dutch	PDF
Abridged model	31/03/2010	03/08/2010	29/10/2010	Dutch	PDF
Abridged model	31/03/2009	04/08/2009	30/10/2009	Dutch	PDF
Abridged model	31/03/2008	05/08/2008	27/11/2008	Dutch	PDF
Abridged model	31/03/2007	07/08/2007	27/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 2 active · 1 ended

Active mandates

JACQUES EMSENS

Director

Active

STANISLAS EMSENS

Director

Active

Ended mandates

JACQUES EMSENS

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/12/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - BOEKJAAR
PDF
Other03/04/2025
DIVERSEN
PDF
Mandates30/12/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates24/04/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Other18/02/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office04/12/2019
MAATSCHAPPELIJKE ZETEL
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

23/02/2026
nominationEMSENS Savina — bestuurder
2025
Annual accounts 20253,2 M €↓
09/12/2025
nominationEMSENS Ludovic — bestuurder
2025
Annual accounts 202541,7 M €↑
02/12/2024
nominationJacques EMSENS — administrateur délégué
02/12/2024
nominationStanislas EMSENS — administrateur délégué
18/04/2024
nominationEMSENS Stanislas Stéphane — bestuurder
2024
Annual accounts 20241,9 M €↑
2023
Annual accounts 2023-3,6 M €↓
2022
Annual accounts 20221,3 M €↓
2021
Annual accounts 20217,7 M €↑
2020
Annual accounts 2020-1,7 M €↓
2019
Annual accounts 20192,5 M €↑
2018
Annual accounts 201883,4 k €↓
2017
Annual accounts 20171,4 M €↑
2016
Annual accounts 20161,3 M €↓
2014
Annual accounts 20142,6 M €↑
2013
Annual accounts 2013450,1 k €↑
2012
Annual accounts 2012-237,4 k €↓
2011
Annual accounts 2011684,8 k €↑
2010
Annual accounts 2010204 k €↓
2009
Annual accounts 2009453,9 k €↑
2008
Annual accounts 200843,6 k €↓
2007
Annual accounts 200761,6 k €
30/04/2002
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

STALUSA

Overview

What does STALUSA do?

Trend over 19 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