D&G STUDIO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 33 filings
Turnover
≈ €430,000
Estimated: probably between €310,000 and €660,000
Total assets
€335,078▲ 55.0%
2024 · €216,158
Net result
€85,978▲ 33.3%
2024 · €64,499
Working capital
€41,998▼ 73.3%
2024 · €157,306
In the rankings
#6 oldest company in Sint-Genesius-Rode, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€117,615
▲ 31.3%
2025
20182025
Net result
€85,978
▲ 33.3%
2025
highest quarter of the sector
20182025
Equity
€216,519
▲ 34.9%
2025
highest quarter of the sector
20182025
Total assets
€335,078
▲ 55.0%
2025
highest quarter of the sector
20182025
Debt
€118,559
▲ 113%
2025
20182025
Working capital
€41,998
▼ 73.3%
2025
middle half of the sector
20182025
Solvency
64.6%
▼ 9.7pp
2025
middle half of the sector
20182025
Current ratio
1.35
▼ 2.47
2025
middle half of the sector
20182025
Return on assets (ROA)
25.7%
▼ 4.2pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€64,302--€9,586€76,054€16,344▼ 78.5%-€56,546€75,124€89,568▲ 19.2%€117,615▲ 31.3%
Net result€2,643--€12,122€62,171above the sector's middle half€9,764within the sector's middle half▼ 84.3%-€60,237below the sector's middle half€67,768above the sector's middle half€64,499above the sector's middle half▼ 4.8%€85,978above the sector's middle half▲ 33.3%
Equity€28,699-€16,577▼ 42.2%€78,748within the sector's middle half▲ 375%€88,512within the sector's middle half▲ 12.4%€28,274within the sector's middle half▼ 68.1%€96,042within the sector's middle half▲ 240%€160,542above the sector's middle half▲ 67.2%€216,519above the sector's middle half▲ 34.9%
Total assets€139,487-€136,873▼ 1.9%€99,885within the sector's middle half▼ 27.0%€104,194within the sector's middle half▲ 4.3%€49,430below the sector's middle half▼ 52.6%€227,515within the sector's middle half▲ 360%€216,158within the sector's middle half▼ 5.0%€335,078above the sector's middle half▲ 55.0%
Debt€110,788-€120,296▲ 8.6%€21,137▼ 82.4%€15,682▼ 25.8%€21,155▲ 34.9%€131,472▲ 521%€55,617▼ 57.7%€118,559▲ 113%
Working capital-€3,788--€22,141▼ 485%€55,686within the sector's middle half€88,742above the sector's middle half▲ 59.4%€26,136within the sector's middle half▼ 70.5%€92,002above the sector's middle half▲ 252%€157,306above the sector's middle half▲ 71.0%€41,998within the sector's middle half▼ 73.3%
Solvency20.6%-12.1%▼ 8.5pp78.8%above the sector's middle half▲ 66.7pp84.9%above the sector's middle half▲ 6.1pp57.2%within the sector's middle half▼ 27.7pp42.2%within the sector's middle half▼ 15.0pp74.3%above the sector's middle half▲ 32.1pp64.6%within the sector's middle half▼ 9.7pp
Current ratio0.95-0.80▼ 0.153.63above the sector's middle half▲ 2.836.84above the sector's middle half▲ 3.202.24within the sector's middle half▼ 4.601.70within the sector's middle half▼ 0.543.83above the sector's middle half▲ 2.131.35within the sector's middle half▼ 2.47
Return on assets (ROA)1.9%--8.9%▼ 10.8pp62.2%above the sector's middle half▲ 71.1pp9.4%within the sector's middle half▼ 52.9pp-121.9%below the sector's middle half▼ 131.2pp29.8%above the sector's middle half▲ 151.7pp29.8%above the sector's middle half▲ 0.1pp25.7%above the sector's middle half▼ 4.2pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 31% higher than in 2024 and the highest since 2018. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €335,078
Fixed assets
€174,522 ▲ 54×
Current assets
€160,557 ▼ 24.6%
Equity and liabilities €335,078
Equity
€216,519 ▲ 34.9%
Debt
€118,559 ▲ 113%
Debt's share of the balance-sheet total rises from 25.7% to 35.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€130,334▲
2024 · €91,529
Cash flow
€98,697▲
2024 · €66,460
Debt to equity
0.55▲
2024 · 0.35
ROE
39.7%▼
2024 · 40.2%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€118,559▲
2024 · €55,617
Income taxes
€34,130▲
2024 · €24,831
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,686 | €2,799 | €1,156 | €184,005 |
| Depreciation and write-downs of the year | €22,812 | €797 | €898 | €1,961 | €12,719 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,770 | €23,637 | €22,812 | €22,812 | €797 | €898 | €1,961 | €12,719 | ▲ 549% |
| Other operating charges640/8 | - | - | - | €477 | €723 | €826 | €631 | €651 | ▲ 3.1% |
| Gross operating margin9900 | €88,545 | €14,858 | €99,342 | €39,634 | -€55,026 | €76,848 | €92,161 | €130,985 | ▲ 42.1% |
| Operating profit (loss)9901 | €64,302 | -€9,586 | €76,054 | €16,344 | -€56,546 | €75,124 | €89,568 | €117,615 | ▲ 31.3% |
| Financial income75/76B | - | - | - | €463 | €1,267 | €1,307 | €2 | €2,539 | ▲ 1,459× |
| Recurring financial income75 | €185 | - | - | €463 | €1,267 | €1,307 | €2 | €2,539 | ▲ 1,459× |
| Financial charges65/66B | - | - | - | €2,182 | €4,654 | -€3,436 | €239 | €45 | ▼ 81.2% |
| Recurring financial charges65 | €1,406 | €1,036 | €712 | €2,182 | €4,654 | -€3,436 | €239 | €45 | ▼ 81.2% |
| Profit (loss) for the period before taxes9903 | €2,957 | -€10,622 | €75,342 | €14,625 | -€59,933 | €79,868 | €89,331 | €120,108 | ▲ 34.5% |
| Income taxes67/77 | €314 | €1,500 | €13,171 | €4,862 | €304 | €12,100 | €24,831 | €34,130 | ▲ 37.4% |
| Profit (loss) for the period9904 | €2,643 | -€12,122 | €62,171 | €9,764 | -€60,237 | €67,768 | €64,499 | €85,978 | ▲ 33.3% |
| Profit (loss) for the period to be appropriated9905 | -€2,634 | -€16,976 | €62,171 | €9,764 | -€60,237 | €67,768 | €64,499 | €85,978 | ▲ 33.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €139,487 | €136,873 | €99,885 | €104,194 | €49,430 | €227,515 | €216,158 | €335,078 | ▲ 55.0% |
| Fixed assets21/28 | €68,060 | €45,875 | €23,062 | €250 | €2,139 | €4,040 | €3,235 | €174,522 | ▲ 54× |
| Tangible fixed assets22/27 | €67,810 | €45,625 | €22,812 | - | €1,889 | €3,790 | €2,985 | €174,272 | ▲ 58× |
| Furniture and vehicles24 | - | - | - | - | €1,889 | €3,790 | €2,985 | €174,272 | ▲ 58× |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | €250 | €250 | €250 | €250 | = |
| Current assets29/58 | €71,427 | €90,998 | €76,823 | €103,944 | €47,291 | €223,475 | €212,923 | €160,557 | ▼ 24.6% |
| Amounts receivable within one year40/41 | €26,405 | €38,200 | €18,279 | €36,953 | €7,083 | €90,134 | €135,847 | €82,791 | ▼ 39.1% |
| Trade receivables40 | - | - | - | €24,840 | €4,088 | €79,869 | €98,619 | €51,799 | ▼ 47.5% |
| Other amounts receivable41 | - | - | - | €12,113 | €2,995 | €10,265 | €37,228 | €30,992 | ▼ 16.8% |
| Current investments50/53 | - | - | - | €27,935 | €23,324 | €26,821 | €26,821 | €48,821 | ▲ 82.0% |
| Cash at bank and in hand54/58 | €44,830 | €50,868 | €57,716 | €35,247 | €13,501 | €103,886 | €48,580 | €23,631 | ▼ 51.4% |
| Deferred charges and accrued income490/1 | - | - | - | €3,810 | €3,383 | €2,634 | €1,674 | €5,313 | ▲ 217% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €139,487 | €136,873 | €99,885 | €104,194 | €49,430 | €227,515 | €216,158 | €335,078 | ▲ 55.0% |
| Equity10/15 | €28,699 | €16,577 | €78,748 | €88,512 | €28,274 | €96,042 | €160,542 | €216,519 | ▲ 34.9% |
| Contributions10/11 | €19,831 | €19,831 | - | €19,831 | €19,831 | €19,831 | €19,831 | €19,831 | = |
| Reserves13 | €13,080 | €17,934 | €47,934 | €57,434 | €57,434 | €124,434 | €187,434 | €242,434 | ▲ 29.3% |
| Non-distributable reserves130/1 | - | - | - | €1,983 | €1,983 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,983 | €1,983 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €15,951 | €15,951 | €15,951 | €15,951 | €15,951 | = |
| Distributable reserves133 | - | - | - | €39,500 | €39,500 | €108,483 | €171,483 | €226,483 | ▲ 32.1% |
| Profit (loss) carried forward14 | -€4,212 | -€21,188 | €10,983 | €11,246 | -€48,991 | -€48,223 | -€46,724 | -€45,746 | ▲ 2.1% |
| Amounts payable17/49 | €110,788 | €120,296 | €21,137 | €15,682 | €21,155 | €131,472 | €55,617 | €118,559 | ▲ 113% |
| Amounts payable after more than one year17 | €35,573 | €7,157 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €75,215 | €113,139 | €21,137 | €15,202 | €21,155 | €131,472 | €55,617 | €118,559 | ▲ 113% |
| Trade debts44 | €45,762 | €83,973 | €11,797 | €12,352 | €6,729 | €119,275 | €41,002 | €3,395 | ▼ 91.7% |
| Suppliers440/4 | - | - | - | €12,352 | €6,729 | €119,275 | €41,002 | €3,395 | ▼ 91.7% |
| Taxes, remuneration and social security45 | - | - | - | €2,850 | €14,426 | €12,198 | €14,614 | €5,157 | ▼ 64.7% |
| Taxes450/3 | - | - | - | €2,850 | €14,426 | €12,198 | €14,614 | €5,157 | ▼ 64.7% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €110,007 | - |
| Accrued charges and deferred income492/3 | - | - | - | €480 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,643 | -€12,122 | €62,171 | €9,764 | -€60,237 | €67,768 | €64,499 | €85,978 | ▲ 33.3% |
| + Depreciation and write-downs630 | €23,770 | €23,637 | €22,812 | €22,812 | €797 | €898 | €1,961 | €12,719 | ▲ 549% |
| Operating cash flow (approximation) | €26,413 | €11,515 | €84,983 | €32,576 | -€59,440 | €68,666 | €66,460 | €98,697 | ▲ 48.5% |
| Investment in fixed assets (approximation) | - | -€1,452 | €1 | -€0 | -€2,686 | -€2,799 | -€1,156 | -€184,005 | ▼ 15,815% |
| Change in cash | - | €6,038 | €6,848 | -€22,469 | -€21,746 | €90,385 | -€55,305 | -€24,949 | ▲ 54.9% |
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, 31,368 companies had the same profile as D&G STUDIO has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of D&G STUDIO 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 31,368 companies, not a prediction for D&G STUDIO. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00369652 | |
| 31-12-2024 | micro format | 29-04-2025 | 2025-00088638 | |
| 31-12-2023 | micro format | 24-05-2024 | 2024-00100020 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00371880 | |
| 31-12-2021 | micro format | 13-05-2022 | 2022-20027639 | |
| 31-12-2020 | micro format | 10-05-2021 | 2021-13800387 | |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16500393 | |
| 31-12-2018 | micro format | 29-07-2019 | 2019-40100541 | |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-34800169 | |
| 31-12-2016 | abbreviated format | 08-06-2017 | 2017-16000502 |