D. KESTERMANS
ActiveSummary
D. KESTERMANS has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €363,292 and a net result of €77,439. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 79% of 13085 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability90▼-2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 5.4 against 5.81 in 2024; short-term debt: 17.5% and cash: 23.6% of total assets), and 18.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.3%
Return on assets
17.3%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
5 d late
2023
2 d late
2022
1 d late
2021
7 d late
2020
7 d late
2019
18 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 5 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 3 May (5 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
Equity
€363,292▲ 13.1%
2024 · €321,254
Total assets
€446,666▲ 15.4%
2024 · €387,169
Net result
€77,439▲ 7.8%
2024 · €71,833
Working capital
€343,247▲ 17.2%
2024 · €292,883
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 69, Legal and accounting activities, 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€41,017▲ 49.1%€82,743▲ 102%€99,360▲ 20.1%€99,129▼ 0.2%€103,688▲ 4.6%
Net result€25,903within the sector's middle half▲ 55.9%€55,968within the sector's middle half▲ 116%€70,884above the sector's middle half▲ 26.7%€71,833within the sector's middle half▲ 1.3%€77,439within the sector's middle half▲ 7.8%
Equity€273,468above the sector's middle half▼ 0.8%€304,436above the sector's middle half▲ 11.3%€349,420above the sector's middle half▲ 14.8%€321,254above the sector's middle half▼ 8.1%€363,292above the sector's middle half▲ 13.1%
Total assets€353,943within the sector's middle half▲ 2.5%€407,569within the sector's middle half▲ 15.2%€452,843within the sector's middle half▲ 11.1%€387,169within the sector's middle half▼ 14.5%€446,666within the sector's middle half▲ 15.4%
Debt€80,442▲ 15.5%€97,112▲ 20.7%€98,359▲ 1.3%€61,537▼ 37.4%€78,374▲ 27.4%
Working capital€213,120above the sector's middle half▼ 2.0%€264,944above the sector's middle half▲ 24.3%€311,258above the sector's middle half▲ 17.5%€292,883above the sector's middle half▼ 5.9%€343,247above the sector's middle half▲ 17.2%
Solvency77.3%above the sector's middle half▼ 2.6pp74.7%within the sector's middle half▼ 2.6pp77.2%within the sector's middle half▲ 2.5pp83.0%above the sector's middle half▲ 5.8pp81.3%above the sector's middle half▼ 1.6pp
Current ratio4.00within the sector's middle half▼ 0.804.02within the sector's middle half▲ 0.024.21within the sector's middle half▲ 0.195.81above the sector's middle half▲ 1.605.40above the sector's middle half▼ 0.41
Return on assets (ROA)7.3%within the sector's middle half▲ 2.5pp13.7%within the sector's middle half▲ 6.4pp15.7%within the sector's middle half▲ 1.9pp18.6%within the sector's middle half▲ 2.9pp17.3%within the sector's middle half▼ 1.2pp
Staff (FTE)1.1▼ 26.7%1.5▲ 36.4%1.9▲ 26.7%2▲ 5.3%2=
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, 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 recovers in 2025; 2025 is 5% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €446,666
Fixed assets
€25,425 ▼ 23.9%
Current assets
€421,241 ▲ 19.1%
Equity and liabilities €446,666
Equity
€363,292 ▲ 13.1%
Provisions
€5,000 ▲ 14.2%
Debt
€78,374 ▲ 27.4%
Debt's share of the balance-sheet total rises from 15.9% to 17.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€113,249▲
2024 · €112,328
Cash flow
€87,000▲
2024 · €85,032
Debt to equity
0.22▲
2024 · 0.19
ROE
21.3%▼
2024 · 22.4%
Interest coverage
164.63▲
2024 · 136.99
Debt ≤ 1 year
€77,994▲
2024 · €60,892
Income taxes
€29,699▲
2024 · €26,864
Staff costs
€130,638▲
2024 · €124,830
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 31,371 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €77,885 | €90,885 | €114,644 | €124,830 | €130,638 | ▲ 4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,882 | €25,713 | €24,052 | €13,199 | €9,561 | ▼ 27.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €14,623 | €4,844 | ▼ 66.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €6,000 | -€945 | -€677 | €622 | ▲ 192% |
| Other operating charges640/8 | €3,359 | €3,358 | €3,600 | €3,853 | €3,214 | ▼ 16.6% |
| Non-recurring operating charges66A | - | - | - | €577 | - | - |
| Gross operating margin9900 | €144,143 | €208,698 | €240,712 | €255,533 | €252,567 | ▼ 1.2% |
| Operating profit (loss)9901 | €41,017 | €82,743 | €99,360 | €99,129 | €103,688 | ▲ 4.6% |
| Financial income75/76B | €0 | €0 | €46 | €379 | €4,138 | ▲ 992% |
| Recurring financial income75 | €0 | €0 | €46 | €379 | €4,138 | ▲ 992% |
| Financial charges65/66B | €774 | €893 | €1,003 | €820 | €688 | ▼ 16.1% |
| Recurring financial charges65 | €774 | €893 | €1,003 | €820 | €688 | ▼ 16.1% |
| Profit (loss) for the period before taxes9903 | €40,243 | €81,850 | €98,403 | €98,688 | €107,138 | ▲ 8.6% |
| Transfer from deferred taxes780 | €12 | €12 | €12 | €9 | - | - |
| Income taxes67/77 | €14,353 | €25,894 | €27,531 | €26,864 | €29,699 | ▲ 10.6% |
| Profit (loss) for the period9904 | €25,903 | €55,968 | €70,884 | €71,833 | €77,439 | ▲ 7.8% |
| Transfer from tax-exempt reserves789 | €14,025 | €38 | €38 | €26 | - | - |
| Profit (loss) for the period to be appropriated9905 | €39,928 | €56,006 | €70,922 | €71,859 | €77,439 | ▲ 7.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €353,943 | €407,569 | €452,843 | €387,169 | €446,666 | ▲ 15.4% |
| Fixed assets21/28 | €69,773 | €54,953 | €44,683 | €33,394 | €25,425 | ▼ 23.9% |
| Intangible fixed assets21 | €228 | €178 | €780 | €615 | €450 | ▼ 26.8% |
| Tangible fixed assets22/27 | €67,236 | €51,718 | €41,506 | €29,772 | €21,741 | ▼ 27.0% |
| Land and buildings22 | €16,940 | €13,153 | €22,354 | €20,516 | €18,249 | ▼ 11.0% |
| Furniture and vehicles24 | €42,659 | €33,339 | €16,338 | €8,854 | €3,492 | ▼ 60.6% |
| Leasing and similar rights25 | €7,638 | €5,226 | €2,814 | €402 | - | - |
| Financial fixed assets28 | €2,309 | €3,057 | €2,397 | €3,008 | €3,234 | ▲ 7.5% |
| Current assets29/58 | €284,170 | €352,615 | €408,160 | €353,775 | €421,241 | ▲ 19.1% |
| Amounts receivable within one year40/41 | €96,978 | €124,681 | €150,294 | €122,415 | €106,177 | ▼ 13.3% |
| Trade receivables40 | €92,854 | €111,894 | €124,500 | €118,371 | €102,433 | ▼ 13.5% |
| Other amounts receivable41 | €4,124 | €12,787 | €25,794 | €4,045 | €3,744 | ▼ 7.4% |
| Current investments50/53 | €3,527 | €3,527 | €3,527 | €185,527 | €203,633 | ▲ 9.8% |
| Cash at bank and in hand54/58 | €177,287 | €218,316 | €249,318 | €39,524 | €105,577 | ▲ 167% |
| Deferred charges and accrued income490/1 | €6,378 | €6,092 | €5,022 | €6,308 | €5,854 | ▼ 7.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €353,943 | €407,569 | €452,843 | €387,169 | €446,666 | ▲ 15.4% |
| Equity10/15 | €273,468 | €304,436 | €349,420 | €321,254 | €363,292 | ▲ 13.1% |
| Contributions10/11 | €150,000 | €153,959 | €152,859 | €52,859 | €42,859 | ▼ 18.9% |
| Capital10 | €150,000 | - | - | - | - | - |
| Issued capital100 | €150,000 | - | - | - | - | - |
| Reserves13 | €122,580 | €149,583 | €195,666 | €267,498 | €319,536 | ▲ 19.5% |
| Non-distributable reserves130/1 | €4,959 | - | - | - | - | - |
| Legal reserve130 | €4,959 | - | - | - | - | - |
| Tax-exempt reserves132 | €101 | €63 | €26 | - | - | - |
| Distributable reserves133 | €117,520 | €149,520 | €195,640 | €267,498 | €319,536 | ▲ 19.5% |
| Profit (loss) carried forward14 | €888 | €894 | €896 | €896 | €897 | ▲ 0.1% |
| Provisions and deferred taxes16 | €34 | €6,021 | €5,064 | €4,378 | €5,000 | ▲ 14.2% |
| Provisions for liabilities and charges160/5 | - | €6,000 | €5,055 | €4,378 | €5,000 | ▲ 14.2% |
| Major repairs and maintenance162 | - | €6,000 | €5,055 | €4,378 | €5,000 | ▲ 14.2% |
| Deferred taxes168 | €34 | €21 | €9 | - | - | - |
| Amounts payable17/49 | €80,442 | €97,112 | €98,359 | €61,537 | €78,374 | ▲ 27.4% |
| Amounts payable after more than one year17 | €7,625 | €7,432 | €412 | - | - | - |
| Financial debts170/4 | €7,625 | €7,432 | €412 | - | - | - |
| Amounts payable within one year42/48 | €71,050 | €87,672 | €96,903 | €60,892 | €77,994 | ▲ 28.1% |
| Current portion of amounts payable after more than one year42 | €11,441 | €8,992 | €6,817 | €412 | - | - |
| Trade debts44 | €8,015 | €8,457 | €5,115 | €6,205 | €4,668 | ▼ 24.8% |
| Suppliers440/4 | €8,015 | €8,457 | €5,115 | €6,205 | €4,668 | ▼ 24.8% |
| Advances received on contracts in progress46 | - | €8,531 | €11,915 | €10,452 | €12,948 | ▲ 23.9% |
| Taxes, remuneration and social security45 | €23,393 | €36,280 | €46,535 | €42,526 | €34,979 | ▼ 17.7% |
| Taxes450/3 | €10,405 | €18,588 | €26,904 | €25,207 | €15,408 | ▼ 38.9% |
| Remuneration and social security454/9 | €12,988 | €17,692 | €19,631 | €17,319 | €19,571 | ▲ 13.0% |
| Other amounts payable47/48 | €28,201 | €25,412 | €26,521 | €1,297 | €25,400 | ▲ 1,859% |
| Accrued charges and deferred income492/3 | €1,767 | €2,007 | €1,044 | €645 | €380 | ▼ 41.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,903 | €55,968 | €70,884 | €71,833 | €77,439 | ▲ 7.8% |
| + Depreciation and write-downs630 | €21,882 | €25,713 | €24,052 | €13,199 | €9,561 | ▼ 27.6% |
| Operating cash flow (approximation) | €47,784 | €81,682 | €94,937 | €85,032 | €87,000 | ▲ 2.3% |
| Investment in fixed assets (approximation) | - | -€10,894 | -€13,782 | -€1,910 | -€1,592 | ▲ 16.7% |
| Change in cash | - | €41,029 | €31,002 | -€209,794 | €66,053 | ▲ 131% |
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
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2019net €77,439 ▲7.8%
Operating result €103,688, net result €77,439, both a record.
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
02-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
01-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 1 day late
2022
07-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 7 days late
2021
07-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 7 days late
2020
30-09
Financial
Weakest financial yearnet €16,620 ▼34.5%
Net result drops to €16,620, the lowest in the series; recovery starts the following year.
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
09-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
08-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
08-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Ham-sur-Heure-Nalinnes · 1 establishment unit since 2014
Ground area
3,010 m²
Building footprint
483 m²
Volume, LiDAR
5,081 m³
Parcel 56058A0420/00K000, Wallonia · tallest building 13.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
D. KESTERMANS SRL
since 20142.227.474.148
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56058A0420/00K000 | Wallonia | 3,010 m² | 1 · 483 m² | 13.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,173 companies in this sector we hold annual accounts for 7,643. 5,863 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded25-03-1996
Fiscal year end30-09
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Contact
Phone
071/221.182
E-invoicing
Reachable via Peppol
Peppol ID
0208:0457554047
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.