D 2 S
ActiveSummary
The computed 12-month bankruptcy probability of D 2 S is 1.9% (moderate). The 2025 annual accounts show negative equity (-€250,543) and a net result of -€17,722. Equity is shrinking by ~10% per year across the filed fiscal years. Its solvency ranks better than 5% of 18973 sector peers (fiscal year 2025). The company has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability27▲+23
Solvency0=
Growth27=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.15 in 2024; short-term debt: 205.4% and cash: 8.4% of total assets), and equity is negative.
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-241.1%
Return on assets
-17.1%
Age of the figures
12 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€250,543
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-06-2026, 32 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
32 d late
2024
394 d late
2023
on the day
2022
12 d late
2021
5 d early
2020
on the day
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 75 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 12 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close01-10-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€79,336▼ 21.2%
2020 · €100,659
EBIT margin
-27.5%▼ 32.1pp
2020 · 4.6%
Net result
-€17,722▲ 37.3%
2024 · -€28,256
Working capital
-€186,429▼ 8.3%
2024 · -€172,162
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€79,336▼ 21.2%
Operating result-€21,838€4,753-€27,967-€24,104▲ 13.8%-€14,787▲ 38.7%
Net result-€25,893below the sector's middle half€5,264within the sector's middle half-€28,737below the sector's middle half-€28,256below the sector's middle half▲ 1.7%-€17,722below the sector's middle half▲ 37.3%
EBIT margin-27.5%▼ 32.1pp
Equity-€178,456below the sector's middle half▼ 17.2%-€173,852below the sector's middle half▲ 2.6%-€203,247below the sector's middle half▼ 16.9%-€232,162below the sector's middle half▼ 14.2%-€250,543below the sector's middle half▼ 7.9%
Total assets€214,249within the sector's middle half▼ 11.8%€197,385within the sector's middle half▼ 7.9%€168,859within the sector's middle half▼ 14.5%€130,719within the sector's middle half▼ 22.6%€103,912within the sector's middle half▼ 20.5%
Debt€390,692▼ 0.5%€369,481▼ 5.4%€370,607▲ 0.3%€361,639▼ 2.4%€353,470▼ 2.3%
Working capital-€136,169below the sector's middle half▼ 20.7%-€126,219below the sector's middle half▲ 7.3%-€149,643below the sector's middle half▼ 18.6%-€172,162below the sector's middle half▼ 15.0%-€186,429below the sector's middle half▼ 8.3%
Solvency-83.3%below the sector's middle half▼ 20.6pp-88.1%below the sector's middle half▼ 4.8pp-120.4%below the sector's middle half▼ 32.3pp-177.6%below the sector's middle half▼ 57.2pp-241.1%below the sector's middle half▼ 63.5pp
Current ratio0.20below the sector's middle half▼ 0.050.26below the sector's middle half▲ 0.060.21below the sector's middle half▼ 0.040.15below the sector's middle half▼ 0.070.13below the sector's middle half▼ 0.02
Return on assets (ROA)-12.1%below the sector's middle half▼ 13.1pp2.7%within the sector's middle half▲ 14.8pp-17.0%below the sector's middle half▼ 19.7pp-21.6%below the sector's middle half▼ 4.6pp-17.1%below the sector's middle half▲ 4.6pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €14,787 in 2025 against €24,104 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €103,912
Fixed assets
€76,871 ▼ 24.1%
Current assets
€27,040 ▼ 8.3%
Equity and liabilities
Equity-€250,543
Debt€353,470
Equity is negative: debt (€353,470) exceeds the balance-sheet total (€103,912).
Key figures and ratios
EBITDA
€12,084▲
2024 · €2,547
Cash flow
€9,149▲
2024 · -€1,604
Quick ratio
0.06▲
2024 · 0.02
Interest coverage
3.29▲
2024 · 0.52
Debt ≤ 1 year
€213,470▲
2024 · €201,639
Debt > 1 year
€140,000▼
2024 · €160,000
Income taxes
€174▲
2024 · €164
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,621 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.5%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,621 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €79,336 | - | - | - | - | - |
| Non-recurring operating income76A | €17,532 | €1,065 | €4,100 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €88,031 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | €496 | €170 | €59 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,073 | €27,119 | €27,191 | €26,652 | €26,871 | ▲ 0.8% |
| Other operating charges640/8 | €3,602 | €135 | €8,383 | €4,322 | €3,061 | ▼ 29.2% |
| Gross operating margin9900 | €8,836 | €32,503 | €7,777 | €6,929 | €15,145 | ▲ 119% |
| Operating profit (loss)9901 | -€21,838 | €4,753 | -€27,967 | -€24,104 | -€14,787 | ▲ 38.7% |
| Financial income75/76B | €1,711 | €1,244 | €1,405 | €669 | €660 | ▼ 1.4% |
| Recurring financial income75 | €1,711 | €1,244 | €1,405 | €669 | €660 | ▼ 1.4% |
| Financial charges65/66B | €6,023 | €990 | €2,432 | €4,912 | €3,677 | ▼ 25.1% |
| Recurring financial charges65 | €6,023 | €990 | €2,432 | €4,912 | €3,677 | ▼ 25.1% |
| Profit (loss) for the period before taxes9903 | -€26,150 | €5,007 | -€28,994 | -€28,348 | -€17,805 | ▲ 37.2% |
| Transfer from deferred taxes780 | €257 | €257 | €257 | €257 | €257 | = |
| Income taxes67/77 | - | - | - | €164 | €174 | ▲ 6.1% |
| Profit (loss) for the period9904 | -€25,893 | €5,264 | -€28,737 | -€28,256 | -€17,722 | ▲ 37.3% |
| Transfer from tax-exempt reserves789 | - | - | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€25,893 | €5,264 | -€28,737 | -€28,256 | -€17,722 | ▲ 37.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €214,249 | €197,385 | €168,859 | €130,719 | €103,912 | ▼ 20.5% |
| Fixed assets21/28 | €181,242 | €154,123 | €127,894 | €101,243 | €76,871 | ▼ 24.1% |
| Intangible fixed assets21 | €109,918 | €89,918 | €69,918 | - | - | - |
| Tangible fixed assets22/27 | €71,324 | €64,205 | €57,977 | €101,243 | €76,871 | ▼ 24.1% |
| Land and buildings22 | €67,634 | €61,703 | €55,772 | €99,762 | €73,844 | ▼ 26.0% |
| Plant, machinery and equipment23 | €2,571 | €1,943 | €1,315 | €687 | €2,330 | ▲ 239% |
| Furniture and vehicles24 | €1,119 | €560 | €890 | €794 | €698 | ▼ 12.1% |
| Current assets29/58 | €33,007 | €43,262 | €40,965 | €29,477 | €27,040 | ▼ 8.3% |
| Stocks and contracts in progress3 | €27,833 | €36,719 | €38,143 | €24,514 | €13,204 | ▼ 46.1% |
| Stocks30/36 | €27,833 | €36,719 | €38,143 | €24,514 | €13,204 | ▼ 46.1% |
| Amounts receivable within one year40/41 | €17 | €19 | €694 | €2,720 | €5,098 | ▲ 87.4% |
| Trade receivables40 | - | - | €400 | €2,720 | €5,098 | ▲ 87.4% |
| Other amounts receivable41 | €17 | €19 | €294 | - | - | - |
| Cash at bank and in hand54/58 | €5,157 | €6,523 | €2,128 | €2,242 | €8,739 | ▲ 290% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €214,249 | €197,385 | €168,859 | €130,719 | €103,912 | ▼ 20.5% |
| Equity10/15 | -€178,456 | -€173,852 | -€203,247 | -€232,162 | -€250,543 | ▼ 7.9% |
| Contributions10/11 | €123,947 | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Capital10 | €123,947 | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Issued capital100 | €123,947 | €123,947 | €123,947 | €123,947 | €123,947 | = |
| Reserves13 | €5,551 | €5,551 | €5,551 | €5,551 | €5,551 | = |
| Tax-exempt reserves132 | €5,551 | €5,551 | €5,551 | €5,551 | €5,551 | = |
| Profit (loss) carried forward14 | -€313,115 | -€307,851 | -€336,588 | -€364,843 | -€382,565 | ▼ 4.9% |
| Investment grants15 | €5,161 | €4,502 | €3,843 | €3,184 | €2,525 | ▼ 20.7% |
| Provisions and deferred taxes16 | €2,013 | €1,756 | €1,499 | €1,242 | €985 | ▼ 20.7% |
| Deferred taxes168 | €2,013 | €1,756 | €1,499 | €1,242 | €985 | ▼ 20.7% |
| Amounts payable17/49 | €390,692 | €369,481 | €370,607 | €361,639 | €353,470 | ▼ 2.3% |
| Amounts payable after more than one year17 | €220,000 | €200,000 | €180,000 | €160,000 | €140,000 | ▼ 12.5% |
| Financial debts170/4 | €220,000 | €200,000 | €180,000 | €160,000 | €140,000 | ▼ 12.5% |
| Amounts payable within one year42/48 | €169,176 | €169,481 | €190,607 | €201,639 | €213,470 | ▲ 5.9% |
| Current portion of amounts payable after more than one year42 | €26,077 | €26,077 | €20,000 | €20,000 | €20,000 | = |
| Financial debts43 | - | - | €263 | - | - | - |
| Credit institutions430/8 | - | - | €263 | - | - | - |
| Trade debts44 | €21,902 | €21,976 | €21,277 | €20,636 | €23,704 | ▲ 14.9% |
| Suppliers440/4 | €21,902 | €21,976 | €21,277 | €20,636 | €23,704 | ▲ 14.9% |
| Advances received on contracts in progress46 | - | - | €12,118 | €4,783 | €4,783 | = |
| Taxes, remuneration and social security45 | €3,375 | €3,210 | €1,073 | €3,072 | €1,214 | ▼ 60.5% |
| Taxes450/3 | €3,375 | €3,210 | €1,073 | €3,072 | €1,214 | ▼ 60.5% |
| Other amounts payable47/48 | €117,823 | €118,218 | €135,877 | €153,148 | €163,769 | ▲ 6.9% |
| Accrued charges and deferred income492/3 | €1,516 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,893 | €5,264 | -€28,737 | -€28,256 | -€17,722 | ▲ 37.3% |
| + Depreciation and write-downs630 | €27,073 | €27,119 | €27,191 | €26,652 | €26,871 | ▲ 0.8% |
| Operating cash flow (approximation) | €1,180 | €32,383 | -€1,546 | -€1,604 | €9,149 | ▲ 671% |
| Investment in fixed assets (approximation) | - | €0 | -€963 | -€0 | -€2,500 | ▼ 8,333,233% |
| Change in cash | - | €1,366 | -€4,396 | €115 | €6,496 | ▲ 5,561% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 32 days late
29-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 394 days late
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet -€28,737
Net result drops to -€28,737, the lowest in the series; recovery starts the following year.
12-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 12 days late
2022
30-09
Financial
Back to profitnet €5,264
Net result €5,264 after one loss-making year.
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €2,415
Net result €2,415 after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
17-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 8 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brussel · 2 establishment units since 1995
Ground area
2,678 m²
Building footprint
369 m²
Volume, LiDAR
4,074 m³
3 parcels, Brussels, Flanders · tallest building 17.3 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
DITSON
since 19952.073.889.593
D 2 S
since 20072.166.862.412
3 parcels
Flanders
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084B0135/00F000 | Flanders | 2,144 m² | 1 · 117 m² | 8.9 m · 2 fl. |
| 21818A0002/00N004 | Brussels | 395 m² | 1 · 179 m² | 17.3 m · 5 fl. |
| 21818A0003/00C037 | Brussels | 139 m² | 1 · 73 m² | 15.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 763 companies in this sector we hold annual accounts for 444. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded18-09-1995
Fiscal year end30-09
Activities, NACEBEL 2025
47552Retail sale of lighting equipment
47789Other retail sale of new goods
Contact
E-mail
D2S@skynet.beGrimbergen
Fax
02/4740893Grimbergen
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456026989
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.