Statistics
Loan performance
Data as of Sep 30, 2026
- In default
- €161,703 of invested principal, 1 in recovery
- Actual default rate
- Simple average of completed annual rates.
- Expected default rate for 2026
- Based on a prudential minimum for each category
1 loan has been classified in default since launch in November 2023.
Loan status
See all loans| Status | Loans | Invested principal | Share |
|---|---|---|---|
In Progress | 56 | €9,166,936 | 67.75% |
Completed | 43 | €4,038,909 | 29.85% |
Financing | 3 | €163,276 | 1.21% |
Late (15-90 days) | 0 | €0 | 0.00% |
Default | 1 | €161,703 | 1.20% |
of which in recovery | 1 | €161,703 | 1.20% |
Amounts are invested principal, not the outstanding balance. Loans in recovery are also counted as in default.
Annual default rates by risk category
| Year | All categories | MortgageCategory 1 | Other guaranteesCategory 2 | UnsecuredCategory 3 |
|---|---|---|---|---|
| 2024 | 0.00%0 of 2 | n/a0 of 0 | 0.00%0 of 1 | 0.00%0 of 1 |
| 2025 | 8.33%1 of 12 | 0.00%0 of 2 | 14.29%1 of 7 | 0.00%0 of 3 |
| 2026year to date | 0.00%0 of 39 | 0.00%0 of 32 | 0.00%0 of 6 | 0.00%0 of 1 |
| Average | 4.17% | 0.00% | 7.14% | 0.00% |
| Expected 2026 | 3.13% | 2.00% | 8.00% | 10.00% |
Each cell shows the annual default rate, with defaulted loans out of monitored loans underneath. Calculated under Delegated Regulation (EU) 2022/2115.
Based on a prudential minimum for each category. Calculated on Sep 30, 2026. The estimate starts from each risk category's actual default rate over the platform's entire operating history (November 2023 to present). Given the limited observation period and small category samples, prudential minimum estimates of 2%, 8% and 10% apply to categories 1, 2 and 3 respectively. Category 3 is estimated above category 2 despite no observed defaults because it has no collateral or guarantees. Estimates are reviewed annually when the annual statement is published and after every default event. The total is weighted by the number of loans in each category at 1 January 2026; this is an estimate, not a guarantee.
How we define and calculate defaults
Late
A loan is considered late when the project owner is more than 14 days past due on an interest payment or a scheduled partial or full principal repayment. Penalty interest accrues from the first day of delay under the loan agreement.
Default
Under Article 1 of Delegated Regulation (EU) 2022/2115, stock.estate considers a loan in default when at least one of the following events occurs: (a) the project owner is more than 90 days past due on any material credit obligation, whether interest or principal; (b) stock.estate considers the project owner unlikely to meet its loan obligations in full without additional measures such as enforcing collateral.
Materiality threshold. For point (a), a credit obligation is material when cumulative arrears on the loan are at least EUR 20,000.
Indications of unlikeliness to pay: distressed restructuring of the credit obligation that reduces the financial obligation through forgiveness or material postponement of principal, interest or fees. Distressed restructuring means any concession granted to a project owner facing or about to face difficulties meeting financial commitments.
Another indication of unlikeliness to pay is that the project owner has applied for or entered insolvency, bankruptcy or similar protection that would avoid or delay repayment to investors.
Contractual payment schedule changes. Where the loan agreement expressly allows the project owner to change, suspend or defer payments under certain conditions and the project owner acts within those rights, those payments are not overdue and days past due are calculated using the revised schedule. stock.estate nevertheless assesses the reasons for the changes and the possibility of unlikeliness to pay.
Level of application. Default is assessed at loan level. If a project has several loans and a significant proportion defaults, stock.estate assesses whether the other loans of the same project should also be classified in default.
Investor notification. stock.estate informs affected investors without delay, by email and in their investor account, when a loan enters default.
Risk categories
Category 1: real-estate mortgage. Loans secured by at least one real-estate mortgage on an asset valued by an authorised valuer, regardless of rank or LTV, with or without additional guarantees.
Category 2: other guarantees. Loans without a real-estate mortgage but with at least one real or personal guarantee distinct from the loan agreement: suretyship, corporate guarantee, bank guarantee, pledge over shares or other assets.
Category 3: unsecured. Loans protected only by the enforceable loan agreement, without real or personal guarantees.
Risk categories are defined in the stock.estate risk management framework by type of security. stock.estate does not apply credit scores or publish individual project ratings.
Methodology
1. Actual loan default rate (Article 2 of Delegated Regulation (EU) 2022/2115). stock.estate calculates the simple average of annual default rates over the entire historical observation period, using non-overlapping 12-month observation windows. For each window, the denominator is the number of non-defaulted loans at its start; the numerator is the number of those loans with at least one default during the window. Loans with no scheduled payment in the window are excluded. Only internal data covering all loans intermediated by the platform are used. Where the operating history is shorter than 36 months, the full operating period is used; subsequently, the entire available history continues to be used.
2. Actual default rates by risk category (Article 3). The same methodology applies separately to each risk category in the risk management framework. The denominator consists of non-defaulted loans in that category at the start of the window.
3. Expected default rates by risk category (Article 4). Expected rates are based on actual rates calculated under point 2, with the assumptions summarised below the risk-category table. The total weights category estimates by the reference cohort loan counts.
4. Data quality (Article 6). stock.estate maintains documented procedures for collecting and storing payment and arrears data, reconciled monthly against payment-account statements, so that the data used to calculate default rates are consistent and complete.
5. The numerator and denominator for each observation window are published in the tables above, in accordance with Articles 2(5) and 3(5).
stock.estate does not provide individual loan portfolio management services and therefore does not publish an actual return compared with a target return under Article 20(1)(b)(iii) of Regulation (EU) 2020/1503. Information published in accordance with Article 20 of Regulation (EU) 2020/1503 and Delegated Regulation (EU) 2022/2115.
Company revenue
STOCKESTATE CROWDFUNDING SRL: Net turnover
| Year | Jan-Jun | Jul-Dec | Annual |
|---|---|---|---|
| 2024 | 38,254 | 110,625 | 148,879 |
| 2025 | 103,886 | 533,450 | 637,336 |
| 2026 | 1,193,131 | - | - |
STOCKESTATE CROWDFUNDING SRL files its financial statements under International Financial Reporting Standards (IFRS). This framework applies to crowdfunding service providers under ASF Norm No. 6/2023, which extends Norm No. 39/2015. These IFRS reports may not be reflected in the data shown by aggregators such as Termene.ro or ListaFirme. The figures above come from the company's financial statements.
