D.SECTION
ActiveSummary
D.SECTION has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€8,959) and a net result of €46. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 12,678 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Equity
- -€8,959
- Profit
- €46
Why 54raises riskCapped at 59: negative equityNegative equity -€8,959lowers riskSize: total assets €2,208Founded in 2003Liquidity: current ratio 0.20, cash €959Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 47, micro): better than 6% on solvency, 52% on liquidity, 32% on profitability and 41% on growth.
The bankruptcy probability was computed on 26-10-2026 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).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 35 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Resignation: Frederik VAN IMPE (manager)Appointment: Frederik VAN IMPE (director)…
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (28 days) Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00452681.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 88% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,449 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92.3% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,449 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5,372 | €645 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €990 | - | - | €7,177 | €7,177 | €7,177 | €7,177 | - | - |
| Other operating charges640/8 | - | - | - | €1,899 | €1,195 | €1,243 | €1,473 | €1,255 | ▼ 14.8% |
| Gross operating margin9900 | €6,329 | €5,263 | €4,432 | €20,155 | -€8,403 | -€89 | €21,188 | €2,712 | ▼ 87.2% |
| Operating profit (loss)9901 | €3,867 | €4,368 | €3,532 | €11,079 | -€16,775 | -€8,509 | €12,537 | €1,456 | ▼ 88.4% |
| Financial income75/76B | - | - | - | €3 | - | - | €0 | €0 | ▼ 94.1% |
| Recurring financial income75 | - | €24 | €2 | €3 | - | - | €0 | €0 | ▼ 94.1% |
| Financial charges65/66B | - | - | - | €286 | €532 | €394 | €118 | €183 | ▲ 54.6% |
| Recurring financial charges65 | €434 | €667 | €260 | €286 | €532 | €394 | €118 | €183 | ▲ 54.6% |
| Profit (loss) for the period before taxes9903 | €3,433 | €3,725 | €3,273 | €10,796 | -€17,307 | -€8,903 | €12,419 | €1,274 | ▼ 89.7% |
| Income taxes67/77 | - | - | - | €1,647 | €448 | €376 | €341 | €1,227 | ▲ 260% |
| Profit (loss) for the period9904 | €3,433 | €3,725 | €3,273 | €9,148 | -€17,755 | -€9,279 | €12,078 | €46 | ▼ 99.6% |
| Profit (loss) for the period to be appropriated9905 | €3,433 | €3,725 | €3,273 | €9,148 | -€17,755 | -€9,279 | €12,078 | €46 | ▼ 99.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4,349 | €6,683 | €3,499 | €25,087 | €16,286 | €7,259 | €1,927 | €2,208 | ▲ 14.6% |
| Fixed assets21/28 | €50 | €750 | €75 | €21,532 | €14,355 | €7,177 | - | - | - |
| Tangible fixed assets22/27 | - | - | - | €21,532 | €14,355 | €7,177 | - | - | - |
| Furniture and vehicles24 | - | - | - | €21,532 | €14,355 | €7,177 | - | - | - |
| Financial fixed assets28 | €50 | €750 | €75 | - | - | - | - | - | - |
| Current assets29/58 | €4,299 | €5,933 | €3,424 | €3,556 | €1,931 | €82 | €1,927 | €2,208 | ▲ 14.6% |
| Amounts receivable within one year40/41 | €4,299 | €5,881 | €2,453 | €3,556 | €1,395 | €67 | €678 | €1,249 | ▲ 84.2% |
| Trade receivables40 | - | - | - | €3,226 | - | - | €320 | - | - |
| Other amounts receivable41 | - | - | - | €329 | €1,395 | €67 | €358 | €1,249 | ▲ 249% |
| Cash at bank and in hand54/58 | - | €52 | €971 | - | €537 | €15 | €1,249 | €959 | ▼ 23.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4,349 | €6,683 | €3,499 | €25,087 | €16,286 | €7,259 | €1,927 | €2,208 | ▲ 14.6% |
| Equity10/15 | -€10,196 | -€6,471 | -€3,198 | €5,951 | -€11,805 | -€21,083 | -€9,005 | -€8,959 | ▲ 0.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€28,796 | -€25,071 | -€21,798 | -€12,649 | -€30,405 | -€39,683 | -€27,605 | -€27,559 | ▲ 0.2% |
| Amounts payable17/49 | €14,545 | €13,154 | €6,697 | €19,137 | €28,090 | €28,342 | €10,932 | €11,167 | ▲ 2.1% |
| Amounts payable within one year42/48 | €14,545 | €13,154 | €6,697 | €19,137 | €28,090 | €28,342 | €10,932 | €11,167 | ▲ 2.1% |
| Financial debts43 | - | - | - | €216 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €216 | - | - | - | - | - |
| Trade debts44 | €436 | €901 | €979 | €105 | €50 | €437 | - | €400 | - |
| Suppliers440/4 | - | - | - | €105 | €50 | €437 | - | €400 | - |
| Taxes, remuneration and social security45 | - | - | - | €1,647 | €2,101 | €376 | €717 | €1,547 | ▲ 116% |
| Taxes450/3 | - | - | - | €1,647 | €2,101 | €376 | €717 | €1,547 | ▲ 116% |
| Other amounts payable47/48 | - | - | - | €17,169 | €25,940 | €27,530 | €10,215 | €9,220 | ▼ 9.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,433 | €3,725 | €3,273 | €9,148 | -€17,755 | -€9,279 | €12,078 | €46 | ▼ 99.6% |
| + Depreciation and write-downs630 | €990 | - | - | €7,177 | €7,177 | €7,177 | €7,177 | - | - |
| Operating cash flow (approximation) | €4,423 | €3,725 | €3,273 | €16,326 | -€10,578 | -€2,101 | €19,255 | €46 | ▼ 99.8% |
| Investment in fixed assets (approximation) | - | -€700 | €675 | -€28,634 | €0 | €0 | - | - | - |
| Change in cash | - | - | €919 | - | - | -€522 | €1,234 | -€290 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 28-08-2026 | 2026-00452681 |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00413113 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00425207 |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00372781 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20400324 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-60600234 |
| 31-12-2019 | micro format | 09-10-2020 | 2020-60800098 |
| 31-12-2018 | micro format | 31-08-2019 | 2019-60600254 |
| 31-12-2017 | micro format | 01-09-2018 | 2018-61000217 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-57700305 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Frederik VAN IMPE |
|
Owners and capital
Capital and shareholders
- Frederik VAN IMPE all shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 16-02-2026 Converted to unavailable equity · €18,600
- 16-02-2026 Converted to uncalled contributions
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
16-02
Gazette deed
Resignation: Frederik VAN IMPE (manager)Appointment: Frederik VAN IMPE (director) · Amendment of the articles · Purpose change13 facts ▸
- General meeting, 23-12-2025 (2 times)
- Amendment of the articles (2 times)
- Purpose change
- Shareholding, “artikel 2:8, §4 WVV” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital conversion, “eigen vermogensrekening niet-opgevraagde inbrengen” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, beschikbaar maken voor uitkering” (deed in Dutch)
- Capital
- Other provision, “coördinatie van de statuten, de algemene vergadering besluit de opdracht te geven aan geassocieerde notarissen Olivier Van Maele en Lien Couck om de coördinatie…” (deed in Dutch)
- Director resignation, Frederik VAN IMPE (manager)
- Director appointment, Frederik VAN IMPE (director (not named in the articles))
- Registered office clause, “2960 Brecht, Solvijnslaan 10” (deed in Dutch)
- +1 further fact in this act
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11009M0079/00H000 | Flanders | 2,001 m² | 1 · 276 m² | 12.1 m · 1 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Product-ontwikkeling en de industriële vormgeving van, en de handel in, industriële voorwerpen, meubelen, displays, interieurontwerp en…” (deed in Dutch)
13 activities (deed in Dutch)
- Product-ontwikkeling en de industriële vormgeving van, en de handel in, industriële voorwerpen, meubelen, displays, interieurontwerp en standenbouw
- Ontwikkeling van activiteiten op het vlak van 2D grafisme en 3D visualisatie
- Ontwerpen van webdesign
- Tuin- en landschapsaanleg
- Architecturale uitvoering
- Ruimtelijke opbouw
- Plaatsen van verhardingen
- Grond- en plantwerk
- Opbouw en plaatsing van tuinconstructies (tuinhuizen, car-ports, poolhouses)
- Montage, transport, opstelling van constructies of installaties
- Technische ondersteuning
- Uitvoerende handenarbeid
- Commerciële, industriële, financiële, burgerlijke, roerende en onroerende handelingen
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- D.section
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, eenvoudige beslissing van het bestuursorgaan” (deed in Dutch)1 more provision on this in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- 4 provisions in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, register van aandelen op naam” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “9” (deed in Dutch)
- Share issue ruleHow and by whom new shares can be issued.
- “Enige aandeelhouder-bestuurder bepaalt stortingen, volgestort bij uitgifte” (deed in Dutch)“15, e-mail of gewone post” (deed in Dutch)
- Profit allocationHow profit is distributed; a BV may only pay out after a balance-sheet and liquidity test.
- “Bestemming van de winst - reserves, de aanwending van de jaarlijkse nettowinst wordt bepaald door de algemene vergadering, op voorstel van…” (deed in Dutch)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Thursday of May at 15:00
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- One provision in the deed
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Ontbinding, op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Vereffenaars, indien geen andere vereffenaar zou zijn benoemd” (deed in Dutch)