Equity
Debts exceed assets in financial year 2025.
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Debts exceed assets in financial year 2025.
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Lower solvency than 92% of companies in office administrative support. Sector median 50.3% · 9,701 companies.
In July 2024, 7,639 companies had the same profile as D-Connect has now. Each dot stands for 20 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 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 7,639 companies, not a prediction for D-Connect. 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.
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| Company | ||||
|---|---|---|---|---|
| D-Connect Assesse | €2,471 | -€344 | -56.4% | - |
| iPower Bruges | €2,691 | -€12,369 | 52.1% | - |
| Bright Management Ghent | €2,752 | -€1,461 | -541.6% | - |
| Den Tripel Antwerp | €2,216 | -€140 | -5775.1% | - |
| REYKJAVIK Ghent | €1,926 | -€10,559 | -315.8% | - |
| IMYOU Kortrijk | €1,965 | -€6,666 | -1406.3% | - |
| EK SOLIDA Kortenberg | €1,917 | -€122 | -60.8% | - |
These companies have the same main activity as D-Connect: other business support services (NACE 82990). They are comparable in size and age: total assets between €1,920 and €2,750, founded between 2021 and 2023.
D-Connect files the micro format. That format states no turnover. The gross margin fell from €595 in 2022 to -€344 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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