D.M. CONSTRUCT & COUVERTURE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 28-05-2026 PDF all 4 filings
Turnover
≈ €350,000
Estimated: probably between €190,000 and €630,000
Total assets
€108,845▼ 31.3%
2024 · €158,326
Net result
€21,675▼ 61.9%
2024 · €56,958
Working capital
€51,307▼ 55.3%
2024 · €114,843
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€36,789
▼ 50.1%
2025
20222025
Net result
€21,675
▼ 61.9%
2025
middle half of the sector
20222025
Equity
€59,878
▼ 51.9%
2025
middle half of the sector
20222025
Total assets
€108,845
▼ 31.3%
2025
middle half of the sector
20222025
Debt
€48,966
▲ 44.3%
2025
20222025
Working capital
€51,307
▼ 55.3%
2025
middle half of the sector
20222025
Solvency
55.0%
▼ 23.6pp
2025
middle half of the sector
20222025
Current ratio
2.29
▼ 5.51
2025
middle half of the sector
20222025
Return on assets (ROA)
19.9%
▼ 16.1pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€64,329-€53,119▼ 17.4%€73,708▲ 38.8%€36,789▼ 50.1%
Net result€53,471above the sector's middle half-€40,724above the sector's middle half▼ 23.8%€56,958above the sector's middle half▲ 39.9%€21,675within the sector's middle half▼ 61.9%
Equity€26,721within the sector's middle half-€67,445within the sector's middle half▲ 152%€124,403above the sector's middle half▲ 84.5%€59,878within the sector's middle half▼ 51.9%
Total assets€88,371within the sector's middle half-€114,773within the sector's middle half▲ 29.9%€158,326within the sector's middle half▲ 37.9%€108,845within the sector's middle half▼ 31.3%
Debt€61,650-€47,328▼ 23.2%€33,923▼ 28.3%€48,966▲ 44.3%
Working capital€19,618within the sector's middle half-€60,183within the sector's middle half▲ 207%€114,843above the sector's middle half▲ 90.8%€51,307within the sector's middle half▼ 55.3%
Solvency30.2%within the sector's middle half-58.8%within the sector's middle half▲ 28.5pp78.6%above the sector's middle half▲ 19.8pp55.0%within the sector's middle half▼ 23.6pp
Current ratio1.69within the sector's middle half-3.69above the sector's middle half▲ 2.007.80above the sector's middle half▲ 4.102.29within the sector's middle half▼ 5.51
Return on assets (ROA)60.5%above the sector's middle half-35.5%above the sector's middle half▼ 25.0pp36.0%above the sector's middle half▲ 0.5pp19.9%within the sector's middle half▼ 16.1pp
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 50% lower than in 2024 and the lowest since 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 €108,845
Fixed assets
€17,674 ▼ 33.5%
Current assets
€91,171 ▼ 30.8%
Equity and liabilities €108,845
Equity
€59,878 ▼ 51.9%
Debt
€48,966 ▲ 44.3%
Debt's share of the balance-sheet total rises from 21.4% to 45.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€45,702▼
2024 · €81,875
Cash flow
€30,589▼
2024 · €65,124
Debt to equity
0.82▲
2024 · 0.27
ROE
36.2%▼
2024 · 45.8%
Interest coverage
5.01▼
2024 · 32.83
Debt ≤ 1 year
€39,864▲
2024 · €16,895
Debt > 1 year
€8,702▼
2024 · €17,028
Income taxes
€5,998▼
2024 · €14,257
Staff costs
€3,650▲
2024 · €3,450
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2023 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €40,400 | - | €2,500 | - |
| Depreciation and write-downs of the year | €66 | €8,080 | €8,167 | €8,913 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €3,450 | €3,650 | ▲ 5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €66 | €8,080 | €8,167 | €8,913 | ▲ 9.1% |
| Other operating charges640/8 | €766 | €855 | €456 | €527 | ▲ 15.4% |
| Gross operating margin9900 | €65,161 | €62,053 | €85,781 | €49,879 | ▼ 41.9% |
| Operating profit (loss)9901 | €64,329 | €53,119 | €73,708 | €36,789 | ▼ 50.1% |
| Financial charges65/66B | €15 | €2,168 | €2,494 | €9,115 | ▲ 266% |
| Recurring financial charges65 | €15 | €2,168 | €2,494 | €9,115 | ▲ 266% |
| Profit (loss) for the period before taxes9903 | €64,314 | €50,951 | €71,215 | €27,674 | ▼ 61.1% |
| Income taxes67/77 | €10,843 | €10,227 | €14,257 | €5,998 | ▼ 57.9% |
| Profit (loss) for the period9904 | €53,471 | €40,724 | €56,958 | €21,675 | ▼ 61.9% |
| Profit (loss) for the period to be appropriated9905 | €53,471 | €40,724 | €56,958 | €21,675 | ▼ 61.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €88,371 | €114,773 | €158,326 | €108,845 | ▼ 31.3% |
| Fixed assets21/28 | €40,334 | €32,254 | €26,587 | €17,674 | ▼ 33.5% |
| Tangible fixed assets22/27 | €40,334 | €32,254 | €26,587 | €17,674 | ▼ 33.5% |
| Plant, machinery and equipment23 | - | - | €2,413 | €1,580 | ▼ 34.5% |
| Furniture and vehicles24 | €40,334 | €32,254 | €24,174 | €16,094 | ▼ 33.4% |
| Current assets29/58 | €48,037 | €82,520 | €131,738 | €91,171 | ▼ 30.8% |
| Amounts receivable within one year40/41 | €12,569 | €24,281 | €19,751 | €14,865 | ▼ 24.7% |
| Trade receivables40 | €281 | €15,820 | €5,183 | €6,732 | ▲ 29.9% |
| Other amounts receivable41 | €12,288 | €8,461 | €14,568 | €8,133 | ▼ 44.2% |
| Cash at bank and in hand54/58 | €35,468 | €48,239 | €96,386 | €64,177 | ▼ 33.4% |
| Deferred charges and accrued income490/1 | - | €10,000 | €15,602 | €12,128 | ▼ 22.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €88,371 | €114,773 | €158,326 | €108,845 | ▼ 31.3% |
| Equity10/15 | €26,721 | €67,445 | €124,403 | €59,878 | ▼ 51.9% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Contributions outside capital11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Other1109/19 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €24,200 | €64,700 | €121,650 | €56,950 | ▼ 53.2% |
| Distributable reserves133 | €24,200 | €64,700 | €121,650 | €56,950 | ▼ 53.2% |
| Profit (loss) carried forward14 | €21 | €245 | €253 | €428 | ▲ 69.4% |
| Amounts payable17/49 | €61,650 | €47,328 | €33,923 | €48,966 | ▲ 44.3% |
| Amounts payable after more than one year17 | €33,231 | €24,992 | €17,028 | €8,702 | ▼ 48.9% |
| Financial debts170/4 | €33,231 | €24,992 | €17,028 | €8,702 | ▼ 48.9% |
| Amounts payable within one year42/48 | €28,419 | €22,336 | €16,895 | €39,864 | ▲ 136% |
| Current portion of amounts payable after more than one year42 | €18,669 | €19,619 | €7,964 | €8,325 | ▲ 4.5% |
| Trade debts44 | €962 | €1,390 | €5,674 | €10,864 | ▲ 91.5% |
| Suppliers440/4 | €962 | €1,390 | €5,674 | €10,864 | ▲ 91.5% |
| Taxes, remuneration and social security45 | €8,775 | €1,327 | €3,257 | €4,963 | ▲ 52.4% |
| Taxes450/3 | €8,775 | €1,327 | €1,757 | €3,463 | ▲ 97.1% |
| Remuneration and social security454/9 | - | - | €1,500 | €1,500 | = |
| Other amounts payable47/48 | €13 | - | - | €15,711 | - |
| Accrued charges and deferred income492/3 | - | - | - | €400 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,471 | €40,724 | €56,958 | €21,675 | ▼ 61.9% |
| + Depreciation and write-downs630 | €66 | €8,080 | €8,167 | €8,913 | ▲ 9.1% |
| Operating cash flow (approximation) | €53,537 | €48,804 | €65,124 | €30,589 | ▼ 53.0% |
| Investment in fixed assets (approximation) | - | €0 | -€2,500 | €0 | - |
| Change in cash | - | €12,771 | €48,147 | -€32,208 | - |
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, 39,278 companies had the same profile as D.M. CONSTRUCT & COUVERTURE has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of D.M. CONSTRUCT & COUVERTURE itself: 0.7% 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 39,278 companies, not a prediction for D.M. CONSTRUCT & COUVERTURE. 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.