Equity
€71.1m ▼ 1.0%
DIVANI paid out €1.1m in dividends. That is 278% of the 2025 profit.
DIVANI
Lifetime
15 annual accounts with figures on one time axispeak €26.4m (2022)
€608,252▼ 78.2%
lowest -€6.7m (2021)
€395,970▲ €674,649
peak €129.7m (2019)
€71.1m▼ 1.0%
€58.8m▲ 20.3%
peak 1 FTE (2020)
-not published
Board5 names since 2020
3 directorsDe Graeve Dirk and 2 others
Owners5 names in the annual accounts
97.73%SERVICE & DEVELOPMENT GROUP BELGIUM and 1 other
Documentsfilings and deeds
21-05-202655 days before the deadline
2025financial year
Turnover from €2.8m to €608,252Back to profit: €395,970Dividend €1.1mDebts from €48.9m to €58.8mCash from €1.4m to €742,984
Key points
from the 2025 annual accountsResult
€395,970 €395,970
Back in profit in 2025, after a loss of €278,678 in 2024.
Filings
15 annual accounts since 2011
Four of the last ten came late. The 2019 accounts came latest: 31 days after the end of the period.
At the same address
22 companies
Board
1 joined · 1 left
Board changed. Latest change 01-06-2026 · 3 in office.
Position in the sector
€71.1m
More equity than 95% of companies in real estate. Sector median €942,893 · 5,805 companies.
Turnover -78%: 12-month year
Checked score
93
Excellent
Financially stronger than 43% of large companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 317 companies (NACE 68, large).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: 0.1%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026highest value
07-2026: 0.1%● unchanged vs 06-2026highest value
08-2026: 0.1%● unchanged vs 07-2026highest value
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: 0.1%● unchanged vs 09-2026highest value
11-2026: 0.1%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.90, cash €742,984
lowers risk
Size: turnover €608,252, total assets €129.9m
Figures for financial year 2025 (filed on 26-05-2026)
Founded in 2010
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, large). It does better than 70% of them on solvency, 21% on liquidity, 61% on profitability and 19% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 15-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 133 companies had the same profile as DIVANI has now. Each dot is one company, two years later.
91.7%
were still trading
8.3%
stopped another way
0.0%
went bankrupt
That fits the bankruptcy probability of DIVANI itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 133 companies, not a prediction for DIVANI. 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.
Credit verdict
Credit of up to €60,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.9 (2.23 in 2024), above the usual 1.5. Short-term debt is 31.7% and cash 0.6% of total assets. 45.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 15-12-2025 was due by 15-07-2026 and was filed on 21-05-2026, 55 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
55 days early
2024
15 days early
2023
27 days early
2022
2 days late
2021
1 day late
2020
22 days early
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 12 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 15-12-2026 and is due by 15-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today15-12-2026 year end15-07-2027 deadline
Board and ownership
- SERVICE & DEVELOPMENT GROUP BELGIUM 97.73%score 89equity €95.5m (2025) · 30-12-2025 annual accounts of SERVICE & DEVELOPMENT GROUP BELGIUM
- CARINVEST 2.27%score 91equity €32.3m (2025) · 30-12-2025 annual accounts of CARINVEST
Shares in 6 companies, including ALFA INVEST and COURT PALACE
Board & ownershipRecent changes
1 director appointed, 1 resignation, 2 reappointments, 1 statutory auditor reappointed
Reappointments: De Graeve Frank (managing director and chair of the board), De Graeve Dirk (managing director) and VRC Bedrijfsrevisoren BV (statutory auditor) · Appointment: PDG Management BV · Permanent representative: De Graeve Pierre · General meeting of 22-04-2026 · Gazette deed
Environmental permit granted
Verwijderen van vrijstaande gebouwen · Gent
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0830657916
Capital decrease of €3,846,710 to €70,460,290
Capital from €74,307,000 to €70,460,290 · General meeting of 12-12-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| DIVANI Ghent | €0.6m | -50.5% | 54.7% | - |
| WEBPLICATIONS Antwerp | €0.5m | - | -37.2% | 2 |
| UNIBRA REAL ESTATE Watermael-Boitsfort | €2.2m | -44.3% | 64.2% | 2.2 |
| VERSLUYS INVEST Ostend | €1.4m | -82.6% | 50.1% | 5.8 |
| CFM Ghent | €1.1m | 78.4% | 87.6% | 2 |
| STRACO REAL ESTATE DEVELOPMENT Sint-Martens-Latem | €0.7m | -25.0% | 13.0% | 10.6 |
| ROYALE 120 Ixelles | €3.7m | 54.7% | 37.4% | - |
Grey: the largest companies of the sector (real estate (NACE 68)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as DIVANI: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €80m and €246m, founded between 1994 and 2013.
Official details
Source: KBO- Status
- Active since 26-10-2010Normal situation
- Registered office
- 23 active companies are registered at this addressSource: KBO register, as of 7 November 2026.
- Activity
- Buying and selling of own real estateNACE 68110and 6 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2022
- Establishment unit
- 2.212.559.4099051 Ghent, since 26-10-2010
- Financial year end
- 15 December
- Peppol
- Reachable since 01-09-2025
Annual accounts to 15-12-2025
- €3.5m▼ 36.3%
- €129.9m▲ 7.6%
- Filing
- Filed on 21-05-2026, 55 days before the end of the filing period
Companies linked to DIVANI
Subsidiaries and holdings
- Groene Wandeling100%
- ORBIS100%
- TEN BROELE100%
- Driekoningen89%
Insights on DIVANI
DIVANI has existed since 2010. In 2014 turnover rose from €1.0m to €7.3m.
Turnover has fallen every year since 2022.
SERVICE & DEVELOPMENT GROUP BELGIUM holds 97.73% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about DIVANI
- What is the company number of DIVANI?
- The company number of DIVANI is 0830.657.916. The VAT number is the same number with BE in front: BE 0830.657.916.
- Where is DIVANI based?
- The registered office is at Kortrijksesteenweg 1052, 9051 Ghent.Company details
- What does DIVANI do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of DIVANI?
- DIVANI is a public limited company (NV).
- When was DIVANI founded?
- DIVANI was founded on 26-10-2010.
- Is DIVANI still active?
- Yes, DIVANI is an active enterprise in the KBO register.
- How many employees does DIVANI have?
- DIVANI had an average of 0.2 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- Which joint committee does DIVANI fall under?
- In its 2022 annual accounts, DIVANI states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of DIVANI?
- The turnover of DIVANI was €608,252 in financial year 2025, according to the filed annual accounts.
- Is DIVANI profitable?
- In financial year 2025, DIVANI made a profit of €395,970.
- Where can I find the annual accounts of DIVANI?
- DIVANI filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of DIVANI due?
- DIVANI must file the annual accounts for financial year 2026 by 15-07-2027.Timeline
Next steps
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