DADASCO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 24 filings
Turnover
≈ €400,000
Estimated: probably between €210,000 and €550,000
Total assets
€548,084▼ 10.9%
2024 · €615,359
Net result
€15,975▼ 65.0%
2024 · €45,697
Working capital
€84,631▼ 57.5%
2024 · €199,218
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€46,039
▼ 43.9%
2025
20182025
Net result
€15,975
▼ 65.0%
2025
middle half of the sector
20182025
Equity
€207,029
▼ 35.1%
2025
highest quarter of the sector
20182025
Total assets
€548,084
▼ 10.9%
2025
highest quarter of the sector
20182025
Debt
€341,055
▲ 15.0%
2025
20182025
Working capital
€84,631
▼ 57.5%
2025
middle half of the sector
20182025
Solvency
37.8%
▼ 14.0pp
2025
middle half of the sector
20182025
Current ratio
2.01
▼ 2.30
2025
middle half of the sector
20182025
Return on assets (ROA)
2.9%
▼ 4.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€22,047-€36,740▲ 66.6%€66,191▲ 80.2%€84,824▲ 28.2%€80,242▼ 5.4%€45,197▼ 43.7%€82,079▲ 81.6%€46,039▼ 43.9%
Net result€15,582-€25,410▲ 63.1%€48,383above the sector's middle half▲ 90.4%€58,175above the sector's middle half▲ 20.2%€55,321above the sector's middle half▼ 4.9%€23,514above the sector's middle half▼ 57.5%€45,697above the sector's middle half▲ 94.3%€15,975within the sector's middle half▼ 65.0%
Equity€126,899-€152,308▲ 20.0%€170,692above the sector's middle half▲ 12.1%€228,867above the sector's middle half▲ 34.1%€284,187above the sector's middle half▲ 24.2%€307,702above the sector's middle half▲ 8.3%€318,898above the sector's middle half▲ 3.6%€207,029above the sector's middle half▼ 35.1%
Total assets€275,126-€260,157▼ 5.4%€283,010within the sector's middle half▲ 8.8%€314,913within the sector's middle half▲ 11.3%€355,846above the sector's middle half▲ 13.0%€632,778above the sector's middle half▲ 77.8%€615,359above the sector's middle half▼ 2.8%€548,084above the sector's middle half▼ 10.9%
Debt€148,227-€107,849▼ 27.2%€112,318▲ 4.1%€86,047▼ 23.4%€71,658▼ 16.7%€325,077▲ 354%€296,461▼ 8.8%€341,055▲ 15.0%
Working capital€100,318-€121,817▲ 21.4%€123,635above the sector's middle half▲ 1.5%€183,110above the sector's middle half▲ 48.1%€222,646above the sector's middle half▲ 21.6%€178,244above the sector's middle half▼ 19.9%€199,218above the sector's middle half▲ 11.8%€84,631within the sector's middle half▼ 57.5%
Solvency46.1%-58.5%▲ 12.4pp60.3%above the sector's middle half▲ 1.8pp72.7%above the sector's middle half▲ 12.4pp79.9%above the sector's middle half▲ 7.2pp48.6%within the sector's middle half▼ 31.2pp51.8%within the sector's middle half▲ 3.2pp37.8%within the sector's middle half▼ 14.0pp
Current ratio2.07-2.82▲ 0.752.38within the sector's middle half▼ 0.443.59above the sector's middle half▲ 1.214.70above the sector's middle half▲ 1.113.45above the sector's middle half▼ 1.254.30above the sector's middle half▲ 0.862.01within the sector's middle half▼ 2.30
Return on assets (ROA)5.7%-9.8%▲ 4.1pp17.1%above the sector's middle half▲ 7.3pp18.5%above the sector's middle half▲ 1.4pp15.5%above the sector's middle half▼ 2.9pp3.7%within the sector's middle half▼ 11.8pp7.4%within the sector's middle half▲ 3.7pp2.9%within the sector's middle half▼ 4.5pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 44% lower than in 2024.
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 €548,084
Fixed assets
€379,304 ▲ 6.6%
Current assets
€168,780 ▼ 35.0%
Equity and liabilities €548,084
Equity
€207,029 ▼ 35.1%
Debt
€341,055 ▲ 15.0%
Debt's share of the balance-sheet total rises from 48.2% to 62.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€77,774▼
2024 · €107,944
Cash flow
€47,710▼
2024 · €71,562
Quick ratio
1.36▼
2024 · 3.41
Debt to equity
1.65▲
2024 · 0.93
ROE
7.7%▼
2024 · 14.3%
Interest coverage
4.02▼
2024 · 5.87
Debt ≤ 1 year
€84,148▲
2024 · €60,321
Debt > 1 year
€256,907▲
2024 · €236,140
Income taxes
€11,976▼
2024 · €21,876
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | - | - | €135,000 | €135,000 | €135,000 |
| Carrying value of the mortgaged assets | - | - | €358,143 | €338,835 | €329,551 |
| Pledge on the business | €65,450 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,000 | €25,625 | €330,761 | - | €55,220 |
| Depreciation and write-downs of the year | €11,747 | €13,712 | €22,043 | €25,865 | €31,735 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | €6,069 | €4,000 | ▼ 34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,966 | €9,910 | €10,532 | €11,747 | €13,712 | €22,043 | €25,865 | €31,735 | ▲ 22.7% |
| Other operating charges640/8 | - | - | - | €1,326 | €1,329 | €3,400 | €5,204 | €5,019 | ▼ 3.6% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | €40,122 | €62,428 | €81,065 | €97,897 | €95,283 | €70,641 | €113,148 | €82,794 | ▼ 26.8% |
| Operating profit (loss)9901 | €22,047 | €36,740 | €66,191 | €84,824 | €80,242 | €45,197 | €82,079 | €46,039 | ▼ 43.9% |
| Financial income75/76B | - | - | - | €4,005 | €3,230 | €4,143 | €3,868 | €1,240 | ▼ 67.9% |
| Recurring financial income75 | €6,782 | €6,043 | €8,070 | €4,005 | €3,230 | €4,143 | €3,868 | €1,240 | ▼ 67.9% |
| Financial charges65/66B | - | - | - | €6,252 | €6,211 | €13,069 | €18,374 | €19,329 | ▲ 5.2% |
| Recurring financial charges65 | €4,403 | €3,391 | €3,968 | €6,252 | €6,211 | €13,069 | €18,374 | €19,329 | ▲ 5.2% |
| Profit (loss) for the period before taxes9903 | €24,426 | €39,392 | €70,293 | €82,577 | €77,261 | €36,271 | €67,573 | €27,950 | ▼ 58.6% |
| Income taxes67/77 | €8,844 | €13,982 | €21,910 | €24,402 | €21,940 | €12,757 | €21,876 | €11,976 | ▼ 45.3% |
| Profit (loss) for the period9904 | €15,582 | €25,410 | €48,383 | €58,175 | €55,321 | €23,514 | €45,697 | €15,975 | ▼ 65.0% |
| Transfer from tax-exempt reserves789 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €15,582 | €25,410 | €72,039 | €58,175 | €55,321 | €23,514 | €45,697 | €15,975 | ▼ 65.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €275,126 | €260,157 | €283,010 | €314,913 | €355,846 | €632,778 | €615,359 | €548,084 | ▼ 10.9% |
| Fixed assets21/28 | €81,375 | €71,465 | €69,801 | €61,054 | €72,968 | €381,685 | €355,820 | €379,304 | ▲ 6.6% |
| Tangible fixed assets22/27 | €81,375 | €71,465 | €69,801 | €61,054 | €72,968 | €381,685 | €355,820 | €379,304 | ▲ 6.6% |
| Land and buildings22 | - | - | - | €47,014 | €42,263 | €358,143 | €338,835 | €329,551 | ▼ 2.7% |
| Plant, machinery and equipment23 | - | - | - | €8,354 | €4,855 | €1,424 | €817 | €210 | ▼ 74.3% |
| Furniture and vehicles24 | - | - | - | €5,686 | €16,076 | €13,523 | €8,751 | €43,305 | ▲ 395% |
| Other tangible fixed assets26 | - | - | - | - | €9,773 | €8,595 | €7,417 | €6,238 | ▼ 15.9% |
| Current assets29/58 | €193,750 | €188,692 | €213,208 | €253,859 | €282,878 | €251,093 | €259,540 | €168,780 | ▼ 35.0% |
| Amounts receivable after more than one year29 | - | - | - | €75,821 | €80,000 | €110,000 | €97,225 | €24,225 | ▼ 75.1% |
| Trade receivables290 | - | - | - | €0 | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €75,821 | €80,000 | €110,000 | €97,225 | €24,225 | ▼ 75.1% |
| Stocks and contracts in progress3 | €47,320 | €47,850 | €46,152 | €47,087 | €49,574 | €49,350 | €53,938 | €54,548 | ▲ 1.1% |
| Stocks30/36 | - | - | - | €47,087 | €49,574 | €49,350 | €53,938 | €54,548 | ▲ 1.1% |
| Amounts receivable within one year40/41 | €85,709 | €92,892 | €87,534 | €44,556 | €53,358 | €22,810 | €23,311 | €18,124 | ▼ 22.3% |
| Trade receivables40 | - | - | - | €13,543 | €12,517 | €10,462 | €8,652 | €14,587 | ▲ 68.6% |
| Other amounts receivable41 | - | - | - | €31,013 | €40,840 | €12,348 | €14,659 | €3,537 | ▼ 75.9% |
| Current investments50/53 | - | - | - | - | - | €10 | €0 | - | - |
| Cash at bank and in hand54/58 | €23,383 | €6,279 | €44,416 | €81,453 | €95,828 | €66,570 | €66,949 | €57,365 | ▼ 14.3% |
| Deferred charges and accrued income490/1 | - | - | - | €4,943 | €4,118 | €2,353 | €18,116 | €14,517 | ▼ 19.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €275,126 | €260,157 | €283,010 | €314,913 | €355,846 | €632,778 | €615,359 | €548,084 | ▼ 10.9% |
| Equity10/15 | €126,899 | €152,308 | €170,692 | €228,867 | €284,187 | €307,702 | €318,898 | €207,029 | ▼ 35.1% |
| Contributions10/11 | €6,300 | €6,300 | - | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | = |
| Reserves13 | €123,168 | €146,008 | €164,392 | €222,567 | €277,887 | €301,402 | €312,598 | €200,729 | ▼ 35.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €220,707 | €276,027 | €301,402 | €312,598 | €200,729 | ▼ 35.8% |
| Profit (loss) carried forward14 | -€2,569 | - | - | €0 | - | - | €0 | €0 | - |
| Amounts payable17/49 | €148,227 | €107,849 | €112,318 | €86,047 | €71,658 | €325,077 | €296,461 | €341,055 | ▲ 15.0% |
| Amounts payable after more than one year17 | €53,894 | €37,258 | €21,544 | €13,986 | €10,526 | €252,227 | €236,140 | €256,907 | ▲ 8.8% |
| Financial debts170/4 | - | - | - | €13,986 | €10,526 | €252,227 | €236,140 | €256,907 | ▲ 8.8% |
| Amounts payable within one year42/48 | €93,432 | €66,875 | €89,573 | €70,750 | €60,232 | €72,850 | €60,321 | €84,148 | ▲ 39.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,558 | €3,459 | €16,379 | €29,913 | €28,214 | ▼ 5.7% |
| Financial debts43 | - | - | - | €16,676 | €15,007 | €2,398 | €0 | - | - |
| Credit institutions430/8 | - | - | - | €16,676 | €15,007 | €2,398 | €0 | - | - |
| Trade debts44 | €24,705 | €16,729 | €15,568 | €19,176 | €18,387 | €22,587 | €6,378 | €16,765 | ▲ 163% |
| Suppliers440/4 | - | - | - | €19,176 | €18,387 | €22,587 | €6,378 | €16,765 | ▲ 163% |
| Taxes, remuneration and social security45 | - | - | - | €27,340 | €23,378 | €31,486 | €24,030 | €19,981 | ▼ 16.8% |
| Taxes450/3 | - | - | - | €27,340 | €23,378 | €31,486 | €24,030 | €19,981 | ▼ 16.8% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €19,188 | - |
| Accrued charges and deferred income492/3 | - | - | - | €1,312 | €900 | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,582 | €25,410 | €48,383 | €58,175 | €55,321 | €23,514 | €45,697 | €15,975 | ▼ 65.0% |
| + Depreciation and write-downs630 | €15,966 | €9,910 | €10,532 | €11,747 | €13,712 | €22,043 | €25,865 | €31,735 | ▲ 22.7% |
| Operating cash flow (approximation) | €31,548 | €35,320 | €58,915 | €69,923 | €69,033 | €45,558 | €71,562 | €47,710 | ▼ 33.3% |
| Investment in fixed assets (approximation) | - | €0 | -€8,868 | -€3,000 | -€25,625 | -€330,761 | €0 | -€55,220 | - |
| Change in cash | - | -€17,104 | €38,137 | €37,037 | €14,375 | -€29,258 | €379 | -€9,584 | - |
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, 14,766 companies had the same profile as DADASCO has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DADASCO itself: 0.1% 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 14,766 companies, not a prediction for DADASCO. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-07-2026 | 2026-00333227 | |
| 31-12-2024 | micro format | 04-08-2025 | 2025-00354799 | |
| 31-12-2023 | micro format | 01-08-2024 | 2024-00317743 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00177897 | |
| 31-12-2021 | micro format | 05-07-2022 | 2022-20131715 | |
| 31-12-2020 | micro format | 29-06-2021 | 2021-25900110 | |
| 31-12-2019 | micro format | 27-07-2020 | 2020-33200135 | |
| 31-12-2018 | micro format | 27-09-2019 | 2019-66800280 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-58900071 | |
| 31-12-2016 | micro format | 27-09-2017 | 2017-64500454 |