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D-ESTATE

Active
Public limited companyfounded 2010active for 16 yearsLageweg 33, 8930 Menen, BelgiumKBO/BCE: BE 0828.631.408
Summary

D-ESTATE has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.4m and a net result of €136,453. Equity is growing by about 16% per year across the filed financial years. Its solvency ranks better than 51% of 341 sector peers (NACE 35, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Overview

Activity
Production of electricity from non-renewable sources
NACE 35110
1 site
Size
€2.6mturnover 2025
Equity
€6.4m
Profit
€136,453
Financial health
93 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.1%
Structure
Parent
The Veneer · 100%
Board
5 members
Holdings
1
  • The VeneerManaging director · permanent representative Pieterjan Desmet
Accounts 17 days early2 of 21 deeds read
Why 93raises riskLiquidity: current ratio 0.26, cash €758,629lowers riskSize: turnover €2.6m, total assets €21.7mFounded in 2010Figures for financial year 2025 (filed 14-07-2026)Show the evidence

Checked score

Score 2025
93 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 47% of its sector peers (NACE 35, medium-sized)
Financial strength · tick = 2024
Average
Solvency 54+4
equity 29.3% of total assets
Liquidity 40+2
short-term debt 32.2% · cash 3.5%
Profitability 72+1
return on assets 0.6%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (105 companies, NACE 35, medium-sized)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 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%● unchanged vs 06-2025highest value 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 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.1%● unchanged vs 07-2026lowest value 09-2026: 0.1%● unchanged vs 08-2026lowest value 10-2026: 0.1%● unchanged vs 09-2026lowest value
Credit of up to €250,000 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.26, compared with 0.65 in 2024, below 1; short-term debt: 32.2% and cash: 3.5% of total assets), and 70.7% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 35, medium-sized): better than 57% on solvency, 21% on liquidity, 57% on profitability and 53% on growth.

The bankruptcy probability was computed on 13-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Size: turnover €2.6m, total assets €21.7m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.26, cash €758,629
NBB · annual accounts
lowers risk · Founded in 2010
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Figures for financial year 2025 (filed 14-07-2026)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
17 days early
2024
13 days early
2023
20 days early
2022
19 days early
2021
20 days early
2020
18 days early
2019
64 days early
← 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 24 days before the deadline; the sector median (NACE 35) for financial year 2024 is 22 days before the deadline, and 27% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 12 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
14-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. RestructuringPermanent representative: Pieterjan Desmet ·…
  3. Reappointments: NV THE VENEER, BV MALEXIS…Permanent representatives: Pieterjan Desmet, Silke…

Key points

  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Positive: 8 profitable years in a rowprofit 2025: €136,453 8 years View
  • Controlled by The Veneerthe company in turn controls 1 companies 100% View
  • Caution: Result fell in 2025from €201,171 to €136,453 ▼ 32.2% View

By topic

Financials

Financial year
2025
Turnover
€2.6m
Profit
€136,453
Solvency
29.3%
Turnover▲ 3.4%
Net result
20202025
Go to Financials

Board & ownership

Board
5 members
Parent
The Veneer · 100%
  • DEMA InvestDirector
  • LurinvestDirector
  • MalexisDirector
  • The VeneerManaging director
  • TodecomDirector
Go to Board & ownership

Network & group

Subsidiaries
1
Connected companies
3
Mergers and asset contributions
1

1 subsidiary

Go to Network & group

Timeline

Events
22
Since
2011
Next accounts
by 31-07-2027
  1. 18-07-2025Annual accounts filed
  2. 11-07-2024Annual accounts filed
  3. 12-07-2023Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Production of electricity from non-renewable sourcesNACE 35110
Founded
20-08-2010
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
3
Purpose
“A) het verzamelen van financiële middelen voor investeringen in alternatieve, duurzame en…” (deed in Dutch)
Go to Articles of association

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