DACOVAN
ActiveSummary
DACOVAN has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €662k and a net result of €93k. Equity is growing by ~62.7% per year across the filed fiscal years. Its solvency ranks better than 91% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▼-16
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity short (current ratio 0.72 against 3.17 in 2024; short-term debt: 11.1% and cash: 2.6% of total assets), and 11.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
88.9%
Return on assets
12.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
30 d late
2024
26 d late
2023
9 d late
2022
28 d late
2021
29 d late
2020
25 d late
2019
8 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Equity
€662k▲ 16.3%
2024 · €569k
Total assets
€745k▲ 16.2%
2024 · €641k
Net result
€93k▼ 44.9%
2024 · €168k
Working capital
€-23k
2024 · €155k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€165k▲ 847%€198k▲ 19.8%€142k▼ 28.4%€251k▲ 77.0%€128k▼ 48.8%
Net result€112k▲ 796%€138k▲ 23.2%€95k▼ 31.5%€168k▲ 77.7%€93k▼ 44.9%
Equity€160k▲ 236%€298k▲ 86.6%€404k▲ 35.9%€569k▲ 40.7%€662k▲ 16.3%
Total assets€184k▲ 289%€334k▲ 80.9%€454k▲ 36.1%€641k▲ 41.1%€745k▲ 16.2%
Debt€25k€36k▲ 44.4%€49k▲ 37.3%€71k▲ 44.8%€83k▲ 16.0%
Working capital€160k€219k▲ 37.2%€113k▼ 48.2%€155k▲ 36.7%€-23k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 49% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €745k
Fixed assets
€685k ▲ 65.4%
Current assets
€60k ▼ 73.6%
Equity and liabilities €745k
Equity
€662k ▲ 16.3%
Debt
€83k ▲ 16.0%
Debt's share of the balance-sheet total stays at 11.1%.
Key figures and ratios
EBITDA
€192k▼
2024 · €272k
Cash flow
€156k▼
2024 · €189k
Current ratio
0.72▼
2024 · 3.17
Debt to equity
0.13▼
2024 · 0.13
ROE
14.0%▼
2024 · 29.5%
ROA
12.4%▼
2024 · 26.2%
Interest coverage
95.09▲
2024 · 72.59
Debt ≤ 1 year
€83k▲
2024 · €71k
Income taxes
€34k▼
2024 · €79k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €4k | €42k | €21k | €64k | ▲ 205% |
| Other operating charges640/8 | - | €2k | €988 | €2k | €2k | ▲ 15.0% |
| Non-recurring operating charges66A | €710 | €0 | - | - | - | - |
| Gross operating margin9900 | €166k | €203k | €185k | €273k | €194k | ▼ 29.0% |
| Operating profit (loss)9901 | €165k | €198k | €142k | €251k | €128k | ▼ 48.8% |
| Financial income75/76B | - | €1 | €5 | €1 | €209 | ▲ 26,034% |
| Recurring financial income75 | - | €1 | €5 | €1 | €209 | ▲ 26,034% |
| Financial charges65/66B | €1k | €2k | €3k | €4k | €2k | ▼ 46.0% |
| Recurring financial charges65 | €1k | €2k | €3k | €4k | €2k | ▼ 46.0% |
| Profit (loss) for the period before taxes9903 | €164k | €196k | €139k | €247k | €127k | ▼ 48.7% |
| Income taxes67/77 | €52k | €58k | €44k | €79k | €34k | ▼ 56.8% |
| Profit (loss) for the period9904 | €112k | €138k | €95k | €168k | €93k | ▼ 44.9% |
| Profit (loss) for the period to be appropriated9905 | €112k | €138k | €95k | €168k | €93k | ▼ 44.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €184k | €334k | €454k | €641k | €745k | ▲ 16.2% |
| Fixed assets21/28 | - | €79k | €291k | €414k | €685k | ▲ 65.4% |
| Tangible fixed assets22/27 | - | €79k | €291k | €414k | €685k | ▲ 65.4% |
| Land and buildings22 | - | - | €218k | €349k | €501k | ▲ 43.3% |
| Plant, machinery and equipment23 | - | €45k | €36k | €28k | €48k | ▲ 72.4% |
| Furniture and vehicles24 | - | €9k | €8k | €7k | €113k | ▲ 1,625% |
| Other tangible fixed assets26 | - | €25k | €29k | €30k | €23k | ▼ 25.0% |
| Current assets29/58 | €184k | €255k | €163k | €226k | €60k | ▼ 73.6% |
| Amounts receivable within one year40/41 | €102 | €13k | €10k | €3k | €39k | ▲ 1,184% |
| Trade receivables40 | - | - | - | €3k | €18k | ▲ 495% |
| Other amounts receivable41 | €102 | €13k | €10k | €0 | €21k | - |
| Cash at bank and in hand54/58 | €184k | €242k | €152k | €220k | €19k | ▼ 91.2% |
| Deferred charges and accrued income490/1 | - | €338 | €338 | €3k | €2k | ▼ 42.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €184k | €334k | €454k | €641k | €745k | ▲ 16.2% |
| Equity10/15 | €160k | €298k | €404k | €569k | €662k | ▲ 16.3% |
| Contributions10/11 | €6k | €6k | €19k | €19k | €19k | = |
| Reserves13 | €153k | €291k | €386k | €550k | €643k | ▲ 16.8% |
| Non-distributable reserves130/1 | €2k | €2k | €200 | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €200 | €0 | - | - |
| Distributable reserves133 | €152k | €290k | €386k | €550k | €643k | ▲ 16.8% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €25k | €36k | €49k | €71k | €83k | ▲ 16.0% |
| Amounts payable within one year42/48 | €25k | €36k | €49k | €71k | €83k | ▲ 16.0% |
| Trade debts44 | €767 | €790 | €3k | €24k | €25k | ▲ 6.8% |
| Suppliers440/4 | €767 | €790 | €3k | €24k | €25k | ▲ 6.8% |
| Taxes, remuneration and social security45 | €12k | €0 | €1k | €33k | €32k | ▼ 3.9% |
| Taxes450/3 | €12k | €0 | €1k | €33k | €32k | ▼ 3.9% |
| Other amounts payable47/48 | €12k | €35k | €45k | €14k | €25k | ▲ 78.4% |
| Accrued charges and deferred income492/3 | - | - | €49 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €112k | €138k | €95k | €168k | €93k | ▼ 44.9% |
| + Depreciation and write-downs630 | - | €4k | €42k | €21k | €64k | ▲ 205% |
| Operating cash flow (approximation) | €112k | €142k | €137k | €189k | €156k | ▼ 17.2% |
| Investment in fixed assets (approximation) | - | - | €-255k | €-144k | €-334k | ▼ 132% |
| Change in cash | - | €57k | €-89k | €68k | €-201k | ▼ 395% |
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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Highest result since 2018net €168k ▲77.7%
Operating result €251k, net result €168k, both a record.
31-12
Financial
Equity above €500kEq €569k ▲40.7%
7 profitable years in a row build equity to €569k.
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Equity above €200kEq €298k ▲86.6%
5 profitable years in a row build equity to €298k.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €150kEq €160k ▲236%
4 profitable years in a row build equity to €160k.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €4k ▼0.5%
Net result drops to €4k, the lowest in the series; recovery starts the following year.
Show earlier events
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Middelkerke · 1 establishment unit since 2003
Ground area
784 m²
Building footprint
282 m²
Volume, LiDAR
6,592 m³
Parcel 35322C0284/00D004, Flanders · tallest building 35.4 m, ±10 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Zeedijk 253, 8430 Middelkerke
since 20032.126.652.744
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35322C0284/00D004 | Flanders | 784 m² | 1 · 282 m² | 35.4 m · 10 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 588 companies in sector 68204 we hold annual accounts for 318. 237 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-02-2003
Fiscal year end31-12
Activities, NACEBEL 2025
68204Real estate activities
01440Crop and animal production, hunting and related service activities
55209Other holiday and short-stay accommodation
68201Renting and operating of own or leased residential real estate, excluding social housing
93299Other amusement and recreation activities
Scores and ratios are computed by Checked and are not a credit decision.