Andre De Witte
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 41 filings
Turnover
≈ €4.5m
Estimated: probably between €3.5m and €6.0m
EBIT margin
Not included in this filing
Net result
€53,752▲ 25.0%
2024 · €43,015
Working capital
€540,063▲ 7.5%
2024 · €502,502
In the rankings
#10 oldest company in Lokeren, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€103,720
▲ 50.7%
2025
20182025
Net result
€53,752
▲ 25.0%
2025
middle half of the sector
20182025
Equity
€1.7m
▲ 3.2%
2025
highest quarter of the sector
20182025
Total assets
€5.1m
▲ 6.7%
2025
highest quarter of the sector
20182025
Debt
€3.4m
▲ 8.6%
2025
20182025
Working capital
€540,063
▲ 7.5%
2025
middle half of the sector
20182025
Solvency
33.6%
▼ 1.1pp
2025
middle half of the sector
20182025
Current ratio
1.19
=
2025
middle half of the sector
20182025
Return on assets (ROA)
1.1%
▲ 0.2pp
2025
middle half of the sector
20182025
Staff (FTE)
20.5
▲ 1.0%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.2m▼ 38.9%€0.2m▼ 2.8%€0.03m▼ 84.7%€0.08m▲ 193%€0.2m▲ 95.8%€0.07m▼ 57.2%€0.1m▲ 50.7%
Net result€0.2m-€0.1m▼ 44.1%€0.1mwithin the sector's middle half▼ 15.2%€0.01mwithin the sector's middle half▼ 86.0%€0.06mwithin the sector's middle half▲ 343%€0.1mwithin the sector's middle half▲ 68.0%€0.04mwithin the sector's middle half▼ 57.7%€0.05mwithin the sector's middle half▲ 25.0%
Equity€2.5m-€2.6m▲ 4.6%€2.7mabove the sector's middle half▲ 3.7%€2.7mabove the sector's middle half▲ 0.5%€2.7mabove the sector's middle half▼ 2.4%€1.6mabove the sector's middle half▼ 39.4%€1.7mabove the sector's middle half▲ 2.7%€1.7mabove the sector's middle half▲ 3.2%
Total assets€4.4m-€4.3m▼ 3.1%€4.7mabove the sector's middle half▲ 8.4%€4.5mabove the sector's middle half▼ 2.8%€4.8mabove the sector's middle half▲ 6.6%€4.9mabove the sector's middle half▲ 0.9%€4.8mabove the sector's middle half▼ 1.6%€5.1mabove the sector's middle half▲ 6.7%
Debt€1.9m-€1.7m▼ 13.2%€1.9m▲ 15.8%€1.8m▼ 7.5%€2.1m▲ 20.4%€3.2m▲ 51.3%€3.1m▼ 3.7%€3.4m▲ 8.6%
Working capital€2.1m-€2.1m▼ 1.2%€2.3mabove the sector's middle half▲ 7.7%€2.1mabove the sector's middle half▼ 8.6%€1.8mabove the sector's middle half▼ 11.9%€0.5mabove the sector's middle half▼ 70.5%€0.5mwithin the sector's middle half▼ 6.6%€0.5mwithin the sector's middle half▲ 7.5%
Solvency56.7%-61.3%▲ 4.5pp58.6%within the sector's middle half▼ 2.6pp60.6%within the sector's middle half▲ 2.0pp55.5%within the sector's middle half▼ 5.1pp33.3%within the sector's middle half▼ 22.2pp34.8%within the sector's middle half▲ 1.4pp33.6%within the sector's middle half▼ 1.1pp
Current ratio2.82-3.11▲ 0.293.22above the sector's middle half▲ 0.113.07above the sector's middle half▼ 0.152.38within the sector's middle half▼ 0.691.19within the sector's middle half▼ 1.181.18within the sector's middle half▼ 0.011.19within the sector's middle half=
Return on assets (ROA)4.6%-2.7%▼ 2.0pp2.1%within the sector's middle half▼ 0.6pp0.3%below the sector's middle half▼ 1.8pp1.3%below the sector's middle half▲ 1.0pp2.1%within the sector's middle half▲ 0.8pp0.9%below the sector's middle half▼ 1.2pp1.1%within the sector's middle half▲ 0.2pp
Staff (FTE)24.7-25.2▲ 2.0%22.1above the sector's middle half▼ 12.3%21.1above the sector's middle half▼ 4.5%22above the sector's middle half▲ 4.3%20.7above the sector's middle half▼ 5.9%20.3above the sector's middle half▼ 1.9%20.5within the sector's middle half▲ 1.0%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 51% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.1m
Fixed assets
€1.7m ▲ 9.7%
Current assets
€3.4m ▲ 5.3%
Equity and liabilities €5.1m
Equity
€1.7m ▲ 3.2%
Debt
€3.4m ▲ 8.6%
Debt's share of the balance-sheet total rises from 65.2% to 66.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€253,842▲
2024 · €218,266
Cash flow
€203,874▲
2024 · €192,461
Quick ratio
0.59▲
2024 · 0.37
Debt to equity
1.98▲
2024 · 1.88
ROE
3.1%▲
2024 · 2.6%
Interest coverage
5.94▼
2024 · 12.14
Debt ≤ 1 year
€2.9m▲
2024 · €2.7m
Debt > 1 year
€524,630▲
2024 · €389,677
Income taxes
€16,883▼
2024 · €23,781
Staff costs
€1.3m▲
2024 · €1.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 23 | 22 | 21 | 24 | 23 |
| full-time | 18 | 17 | 14 | 18 | 14 |
| part-time | 5 | 5 | 7 | 6 | 9 |
| in full-time equivalents | 21.6 | 20.6 | 18.9 | 22.1 | 19 |
| Average over the year, in full-time equivalents | 21.1 | 22 | 20.3 | 20.3 | 20.5 |
| On a permanent contract | 22 | 21 | 20 | 23 | 21 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €192,847 | €334,819 | €43,693 | €144,797 | €301,265 |
| Intangible fixed assets | - | €15,000 | - | - | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €112,287 | €132,470 | €162,091 | €149,446 | €150,122 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €3,594 awarded · €3,594 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €0 | €117 |
| 2024 | 1 | €117 | €0 |
| 2023 | 2 | €1,692 | €1,692 |
| 2022 | 1 | €1,785 | €1,785 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.001m | €0.001m | - | - | €0.004m | - |
| Remuneration, social security and pensions62 | - | - | - | €1.1m | €1.2m | €1.2m | €1.3m | €1.3m | ▲ 4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.01m | €0.01m | €0.01m | €0.02m | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 3.6% |
| Gross operating margin9900 | €1.7m | €1.6m | €1.4m | €1.3m | €1.4m | €1.5m | €1.5m | €1.6m | ▲ 4.7% |
| Operating profit (loss)9901 | €0.3m | €0.2m | €0.2m | €0.03m | €0.08m | €0.2m | €0.07m | €0.1m | ▲ 50.7% |
| Financial income75/76B | - | - | - | €0.005m | €0.002m | €0.007m | €0.02m | €0.01m | ▼ 39.3% |
| Recurring financial income75 | €0.004m | €0.004m | €0.009m | €0.005m | €0.002m | €0.007m | €0.02m | €0.01m | ▼ 39.3% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.04m | ▲ 138% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.04m | €0.02m | €0.02m | €0.02m | €0.02m | €0.04m | ▲ 138% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.2m | €0.2m | €0.02m | €0.07m | €0.1m | €0.07m | €0.07m | ▲ 5.7% |
| Income taxes67/77 | €0.08m | €0.05m | €0.06m | €0.002m | €0.006m | €0.04m | €0.02m | €0.02m | ▼ 29.0% |
| Profit (loss) for the period9904 | €0.2m | €0.1m | €0.1m | €0.01m | €0.06m | €0.1m | €0.04m | €0.05m | ▲ 25.0% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.1m | €0.1m | €0.01m | €0.06m | €0.1m | €0.04m | €0.05m | ▲ 25.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.4m | €4.3m | €4.7m | €4.5m | €4.8m | €4.9m | €4.8m | €5.1m | ▲ 6.7% |
| Fixed assets21/28 | €1.1m | €1.2m | €1.4m | €1.5m | €1.7m | €1.6m | €1.6m | €1.7m | ▲ 9.7% |
| Intangible fixed assets21 | - | - | - | - | €0.01m | €0.01m | €0.008m | €0.005m | ▼ 38.1% |
| Tangible fixed assets22/27 | €1.1m | €1.2m | €1.4m | €1.5m | €1.7m | €1.5m | €1.5m | €1.7m | ▲ 10.0% |
| Land and buildings22 | - | - | - | €1.3m | €1.3m | €1.2m | €1.2m | €1.3m | ▲ 7.5% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | ▲ 15.5% |
| Furniture and vehicles24 | - | - | - | €0.005m | €0.006m | €0.004m | €0.06m | €0.08m | ▲ 40.3% |
| Current assets29/58 | €3.3m | €3.1m | €3.3m | €3.1m | €3.1m | €3.3m | €3.2m | €3.4m | ▲ 5.3% |
| Stocks and contracts in progress3 | €0.9m | €1.0m | €0.9m | €1.6m | €1.6m | €1.7m | €2.2m | €1.7m | ▼ 22.8% |
| Stocks30/36 | - | - | - | €1.0m | €1.1m | €1.2m | €1.7m | €1.2m | ▼ 29.2% |
| Contracts in progress37 | - | - | - | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | = |
| Amounts receivable within one year40/41 | €1.4m | €1.3m | €1.3m | €1.0m | €0.9m | €1.0m | €0.8m | €1.4m | ▲ 68.1% |
| Trade receivables40 | - | - | - | €0.9m | €0.8m | €1.0m | €0.7m | €1.2m | ▲ 83.2% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.1m | €0.07m | €0.1m | €0.1m | ▼ 6.8% |
| Cash at bank and in hand54/58 | €0.3m | €0.2m | €0.4m | €0.4m | €0.6m | €0.5m | €0.2m | €0.3m | ▲ 62.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 10.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.4m | €4.3m | €4.7m | €4.5m | €4.8m | €4.9m | €4.8m | €5.1m | ▲ 6.7% |
| Equity10/15 | €2.5m | €2.6m | €2.7m | €2.7m | €2.7m | €1.6m | €1.7m | €1.7m | ▲ 3.2% |
| Contributions10/11 | €1.2m | €1.2m | €1.2m | €1.6m | €1.6m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | - | €1.2m | €1.2m | €0.4m | €0.4m | €0.4m | = |
| Issued capital100 | - | - | - | €1.2m | €1.2m | €0.4m | €0.4m | €0.4m | = |
| Contributions outside capital11 | - | - | - | €0.4m | €0.4m | - | - | - | - |
| Share premium1100/10 | - | - | - | €0.4m | €0.4m | - | - | - | - |
| Reserves13 | €1.0m | €1.1m | €1.2m | €1.2m | €1.1m | €1.2m | €1.3m | €1.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €1.1m | €1.0m | €1.1m | €1.1m | €1.1m | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | €0.05m | - |
| Amounts payable17/49 | €1.9m | €1.7m | €1.9m | €1.8m | €2.1m | €3.2m | €3.1m | €3.4m | ▲ 8.6% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.9m | €0.8m | €0.8m | €0.5m | €0.4m | €0.5m | ▲ 34.6% |
| Financial debts170/4 | - | - | - | €0.8m | €0.8m | €0.5m | €0.4m | €0.5m | ▲ 34.6% |
| Amounts payable within one year42/48 | €1.2m | €1.0m | €1.0m | €1.0m | €1.3m | €2.8m | €2.7m | €2.9m | ▲ 4.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | €0.1m | ▲ 35.0% |
| Financial debts43 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Trade debts44 | €0.8m | €0.7m | €0.6m | €0.6m | €0.8m | €0.5m | €0.6m | €0.6m | ▼ 1.9% |
| Suppliers440/4 | - | - | - | €0.6m | €0.8m | €0.5m | €0.6m | €0.6m | ▼ 1.9% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.002m | €0.002m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.05m | €0.05m | €0.03m | €0.2m | ▲ 450% |
| Taxes450/3 | - | - | - | €0.03m | €333 | €89 | €158 | €0.1m | ▲ 801× |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.05m | €0.05m | €0.03m | €0.03m | ▲ 3.4% |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.2m | €1.9m | €1.9m | €1.9m | ▼ 0.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €206,153 | €115,178 | €97,705 | €13,676 | €60,524 | €101,703 | €43,015 | €53,752 | ▲ 25.0% |
| + Depreciation and write-downs630 | €206,969 | €174,763 | €136,669 | €112,287 | €132,470 | €162,091 | €149,446 | €150,122 | ▲ 0.5% |
| Operating cash flow (approximation) | €413,122 | €289,942 | €234,375 | €125,963 | €192,995 | €263,794 | €192,461 | €203,874 | ▲ 5.9% |
| Investment in fixed assets (approximation) | - | -€232,407 | -€312,609 | -€192,847 | -€349,819 | -€43,693 | -€144,797 | -€301,265 | ▼ 108% |
| Change in cash | - | -€67,401 | €205,797 | -€7,229 | €145,281 | -€37,261 | -€339,573 | €121,548 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as Andre De Witte has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Andre De Witte itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for Andre De Witte. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 41 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-06-2026 | 2026-00235301 | |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00350214 | |
| 31-12-2023 | abbreviated format | 22-07-2024 | 2024-00278050 | |
| 31-12-2022 | abbreviated format | 17-07-2023 | 2023-00240972 | |
| 31-12-2021 | abbreviated format | 18-07-2022 | 2022-20196062 | |
| 31-12-2020 | abbreviated format | 27-08-2021 | 2021-55200282 | |
| 31-12-2019 | abbreviated format | 07-07-2020 | 2020-27000572 | |
| 31-12-2018 | abbreviated format | 01-07-2019 | 2019-26600327 | |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-35300441 | |
| 31-12-2016 | abbreviated format | 18-07-2017 | 2017-33500050 |