D'Store
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-03-2026 PDF all 15 filings
Turnover
≈ €1.4m
Estimated: probably between €1.1m and €2.5m
Total assets
€1.7m▲ 4.5%
2024 · €1.6m
Net result
€8,207
2024 · -€284,052
Working capital
€124,866▲ 8.8%
2024 · €114,715
In the rankings
#6 employer in Boutersem#10 company by total assets in Boutersem, Professional and technical services sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€67,965
2025
20192025
Net result
€8,207
2025
middle half of the sector
20192025
Equity
€266,137
▲ 3.2%
2025
middle half of the sector
20192025
Total assets
€1.7m
▲ 4.5%
2025
middle half of the sector
20192025
Debt
€1.5m
▲ 4.7%
2025
20192025
Working capital
€124,866
▲ 8.8%
2025
middle half of the sector
20192025
Solvency
15.5%
▼ 0.2pp
2025
lowest quarter of the sector
20192025
Current ratio
1.10
=
2025
middle half of the sector
20192025
Return on assets (ROA)
0.5%
▲ 17.7pp
2025
middle half of the sector
20192025
Staff (FTE)
14.4
▼ 3.4%
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.007m-€0.03m-€0.2m€0.4m-€0.7m-€0.2m▲ 69.0%€0.07m
Net result-€0.1m--€0.04mbelow the sector's middle half▲ 61.9%-€0.2mbelow the sector's middle half▼ 451%€0.4mabove the sector's middle half-€0.8mbelow the sector's middle half-€0.3mbelow the sector's middle half▲ 62.2%€0.008mwithin the sector's middle half
Equity€0.2m-€0.2mwithin the sector's middle half▼ 20.9%€0.9mwithin the sector's middle half▲ 513%€1.3mwithin the sector's middle half▲ 39.1%€0.5mwithin the sector's middle half▼ 58.1%€0.3mwithin the sector's middle half▼ 52.4%€0.3mwithin the sector's middle half▲ 3.2%
Total assets€3.0m-€2.8mabove the sector's middle half▼ 6.7%€2.3mwithin the sector's middle half▼ 19.1%€2.1mwithin the sector's middle half▼ 7.4%€0.9mwithin the sector's middle half▼ 54.9%€1.6mwithin the sector's middle half▲ 74.3%€1.7mwithin the sector's middle half▲ 4.5%
Debt€2.8m-€2.6m▼ 5.7%€1.3m▼ 49.6%€0.8m▼ 39.8%€0.4m▼ 49.8%€1.4m▲ 245%€1.5m▲ 4.7%
Working capital-€0.02m-€0.5mabove the sector's middle half€1.3mabove the sector's middle half▲ 131%€1.5mabove the sector's middle half▲ 17.9%€0.6mabove the sector's middle half▼ 61.6%€0.1mwithin the sector's middle half▼ 80.0%€0.1mwithin the sector's middle half▲ 8.8%
Solvency6.4%-5.4%below the sector's middle half▼ 1.0pp41.1%within the sector's middle half▲ 35.7pp61.8%within the sector's middle half▲ 20.6pp57.4%within the sector's middle half▼ 4.4pp15.7%below the sector's middle half▼ 41.7pp15.5%below the sector's middle half▼ 0.2pp
Current ratio0.99-1.26within the sector's middle half▲ 0.272.34within the sector's middle half▲ 1.083.52within the sector's middle half▲ 1.182.93within the sector's middle half▼ 0.591.10within the sector's middle half▼ 1.831.10within the sector's middle half=
Return on assets (ROA)-3.5%--1.4%below the sector's middle half▲ 2.1pp-9.8%below the sector's middle half▼ 8.4pp17.4%above the sector's middle half▲ 27.2pp-79.6%below the sector's middle half▼ 97.0pp-17.3%below the sector's middle half▲ 62.4pp0.5%within the sector's middle half▲ 17.7pp
Staff (FTE)42.6-35.6above the sector's middle half▼ 16.4%21.5above the sector's middle half▼ 39.6%23.2above the sector's middle half▲ 7.9%20.2above the sector's middle half▼ 12.9%14.9above the sector's middle half▼ 26.2%14.4above the sector's middle half▼ 3.4%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 a profit of €67,965, after a loss of €229,477 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €1.7m
Fixed assets
€314,579 ▼ 17.2%
Current assets
€1.4m ▲ 11.0%
Equity and liabilities €1.7m
Equity
€266,137 ▲ 3.2%
Debt
€1.5m ▲ 4.7%
Debt's share of the balance-sheet total rises from 84.3% to 84.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€145,926▲
2024 · -€165,790
Cash flow
€86,168▲
2024 · -€220,365
Quick ratio
0.32▼
2024 · 0.45
Debt to equity
5.46▲
2024 · 5.38
ROE
3.1%▲
2024 · -110.1%
Interest coverage
2.16▲
2024 · -2.67
Debt ≤ 1 year
€1.3m▲
2024 · €1.2m
Debt > 1 year
€170,059▼
2024 · €229,812
Income taxes
€547▼
2024 · €1,038
Staff costs
€743,606▲
2024 · €734,257
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-08-2022 | 31-08-2023 | 31-08-2024 | 31-08-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 23 | 6 | 12 | 12 |
| full-time | 7 | 4 | 8 | 6 |
| part-time | 16 | 2 | 4 | 6 |
| in full-time equivalents | 18.3 | 5.3 | 10.9 | 10.4 |
| Average over the year, in full-time equivalents | 23.2 | 20.2 | 14.9 | 14.4 |
| On a permanent contract | 6 | 6 | 12 | 12 |
| Joined | 72 | 40 | 499 | 262 |
| Left | 64 | 52 | 493 | 261 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 31-08-2022 | 31-08-2023 | 31-08-2024 | 31-08-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €71,508 | €344,475 | €23,482 |
| Intangible fixed assets | - | €5,848 | €26,118 | - |
| Financial fixed assets | - | €500 | - | - |
| Depreciation and write-downs of the year | €39,244 | €6,030 | €63,687 | €77,961 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €2,326 awarded · €1,889 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €0 | €75 |
| 2024 | 1 | €75 | €0 |
| 2023 | 1 | €437 | €0 |
| 2022 | 1 | €1,814 | €1,814 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €200 | €0.01m | - | €0.001m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.2m | €0.09m | €0.04m | €0.006m | €0.06m | €0.08m | ▲ 22.4% |
| Other operating charges640/8 | - | - | - | €0.007m | €0.006m | €0.007m | €0.004m | ▼ 45.9% |
| Non-recurring operating charges66A | - | - | - | - | €0.006m | - | - | - |
| Gross operating margin9900 | €1.7m | €1.2m | €0.4m | €1.1m | -€0.06m | €0.6m | €0.9m | ▲ 55.2% |
| Operating profit (loss)9901 | -€0.007m | €0.03m | -€0.2m | €0.4m | -€0.7m | -€0.2m | €0.07m | - |
| Financial income75/76B | - | - | - | €0.03m | €0.02m | €0.009m | €0.008m | ▼ 5.2% |
| Recurring financial income75 | €0.02m | €0.02m | €0.008m | €0.03m | €0.02m | €0.009m | €0.008m | ▼ 5.2% |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.06m | €0.07m | ▲ 8.4% |
| Recurring financial charges65 | €0.1m | €0.09m | €0.03m | €0.03m | €0.03m | €0.06m | €0.07m | ▲ 8.4% |
| Profit (loss) for the period before taxes9903 | -€0.1m | -€0.04m | -€0.2m | €0.4m | -€0.8m | -€0.3m | €0.009m | - |
| Income taxes67/77 | €0.002m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 47.4% |
| Profit (loss) for the period9904 | -€0.1m | -€0.04m | -€0.2m | €0.4m | -€0.8m | -€0.3m | €0.008m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | -€0.04m | -€0.2m | €0.4m | -€0.8m | -€0.3m | €0.008m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3.0m | €2.8m | €2.3m | €2.1m | €0.9m | €1.6m | €1.7m | ▲ 4.5% |
| Fixed assets21/28 | €0.3m | €0.1m | €0.05m | €0.007m | €0.07m | €0.4m | €0.3m | ▼ 17.2% |
| Intangible fixed assets21 | €0.1m | €0.02m | - | - | €0.006m | €0.02m | €0.02m | ▼ 36.5% |
| Tangible fixed assets22/27 | €0.2m | €0.1m | €0.05m | €0.007m | €0.07m | €0.4m | €0.3m | ▼ 15.9% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.03m | €0.2m | €0.2m | ▼ 12.9% |
| Furniture and vehicles24 | - | - | - | €280 | €0.03m | €0.03m | €0.007m | ▼ 70.6% |
| Other tangible fixed assets26 | - | - | - | €0.006m | - | €0.1m | €0.1m | ▼ 9.1% |
| Financial fixed assets28 | - | - | - | - | €0.001m | - | - | - |
| Current assets29/58 | €2.6m | €2.7m | €2.2m | €2.1m | €0.9m | €1.3m | €1.4m | ▲ 11.0% |
| Stocks and contracts in progress3 | €2.3m | €2.3m | €2.0m | €1.7m | €0.06m | €0.7m | €1.0m | ▲ 33.2% |
| Stocks30/36 | - | - | - | €1.7m | €0.06m | €0.7m | €1.0m | ▲ 33.2% |
| Amounts receivable within one year40/41 | €0.2m | €0.1m | €0.09m | €0.04m | €0.4m | €0.2m | €0.2m | ▼ 21.3% |
| Trade receivables40 | - | - | - | €0.03m | €0.2m | €0.1m | €0.07m | ▼ 28.8% |
| Other amounts receivable41 | - | - | - | €0.008m | €0.2m | €0.09m | €0.08m | ▼ 13.0% |
| Cash at bank and in hand54/58 | €0.07m | €0.2m | €0.1m | €0.4m | €0.5m | €0.2m | €0.2m | ▼ 28.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.005m | €0.1m | €0.09m | ▼ 3.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3.0m | €2.8m | €2.3m | €2.1m | €0.9m | €1.6m | €1.7m | ▲ 4.5% |
| Equity10/15 | €0.2m | €0.2m | €0.9m | €1.3m | €0.5m | €0.3m | €0.3m | ▲ 3.2% |
| Contributions10/11 | €0.2m | - | - | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves not available under the articles1311 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Distributable reserves133 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Profit (loss) carried forward14 | -€0.1m | -€0.1m | -€0.4m | -€0.004m | -€0.8m | -€1.0m | -€1.0m | ▲ 0.8% |
| Amounts payable17/49 | €2.8m | €2.6m | €1.3m | €0.8m | €0.4m | €1.4m | €1.5m | ▲ 4.7% |
| Amounts payable after more than one year17 | €0.07m | €0.5m | €0.4m | €0.2m | €0.1m | €0.2m | €0.2m | ▼ 26.0% |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | ▼ 26.0% |
| Amounts payable within one year42/48 | €2.7m | €2.1m | €0.9m | €0.6m | €0.3m | €1.2m | €1.3m | ▲ 11.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.1m | €0.2m | €0.1m | ▼ 35.3% |
| Financial debts43 | - | - | - | €0.1m | €0.1m | €0.3m | €0.5m | ▲ 60.0% |
| Credit institutions430/8 | - | - | - | €0.1m | €0.1m | €0.3m | €0.5m | ▲ 60.0% |
| Trade debts44 | €0.5m | €0.3m | €0.3m | €0.2m | €0.02m | €0.3m | €0.2m | ▼ 6.2% |
| Suppliers440/4 | - | - | - | €0.2m | €0.02m | €0.3m | €0.2m | ▼ 6.2% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.05m | €0.01m | ▼ 72.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.04m | €0.1m | €0.1m | ▼ 3.4% |
| Taxes450/3 | - | - | - | €0.02m | €0.007m | €0.02m | €0.03m | ▲ 15.0% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.04m | €0.1m | €0.1m | ▼ 7.2% |
| Other amounts payable47/48 | - | - | - | - | - | €0.2m | €0.3m | ▲ 22.4% |
| Accrued charges and deferred income492/3 | - | - | - | €27 | - | €0.007m | €0.003m | ▼ 52.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€105,486 | -€40,214 | -€221,533 | €363,634 | -€751,877 | -€284,052 | €8,207 | - |
| + Depreciation and write-downs630 | €288,827 | €218,642 | €88,841 | €39,244 | €6,030 | €63,687 | €77,961 | ▲ 22.4% |
| Operating cash flow (approximation) | €183,341 | €178,428 | -€132,692 | €402,878 | -€745,847 | -€220,365 | €86,168 | - |
| Investment in fixed assets (approximation) | - | -€4,493 | €0 | €0 | -€72,326 | -€370,092 | -€12,705 | ▲ 96.6% |
| Change in cash | - | €171,942 | -€110,780 | €224,013 | €100,393 | -€229,025 | -€64,460 | ▲ 71.9% |
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, 4,107 companies had the same profile as D'Store has now. Two years later, 98.0% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
98.0%
was still going
0.9%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of D'Store 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 4,107 companies, not a prediction for D'Store. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-08-2025 | abbreviated format | 31-03-2026 | 2026-00067856 | |
| 31-08-2024 | abbreviated format | 27-03-2025 | 2025-00055565 | |
| 31-08-2023 | abbreviated format | 27-03-2024 | 2024-00050518 | |
| 31-08-2022 | abbreviated format | 14-03-2023 | 2023-00041569 | |
| 31-08-2021 | abbreviated format | 25-01-2022 | 2022-02000589 | |
| 31-08-2020 | abbreviated format | 18-03-2021 | 2021-08000357 | |
| 31-08-2019 | abbreviated format | 19-03-2020 | 2020-07100096 | |
| 31-08-2018 | abbreviated format | 07-03-2019 | 2019-06700269 | |
| 30-09-2017 | abbreviated format | 11-04-2018 | 2018-09600488 | |
| 30-09-2016 | abbreviated format | 29-03-2017 | 2017-07900339 |