DAFRA ENGINEERING
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 03-03-2026 PDF all 20 filings
Turnover
≈ €110,000
Estimated: probably between €84,000 and €140,000
Total assets
€408,136▼ 15.0%
2024 · €480,091
Net result
€36,993▲ 743%
2024 · €4,388
Working capital
€350,609▼ 15.8%
2024 · €416,189
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€45,300
▲ 35×
2025
20192025
Net result
€36,993
▲ 743%
2025
middle half of the sector
20192025
Equity
€348,142
▼ 15.8%
2025
highest quarter of the sector
20192025
Total assets
€408,136
▼ 15.0%
2025
middle half of the sector
20192025
Debt
€20,993
▼ 23.5%
2025
20192025
Working capital
€350,609
▼ 15.8%
2025
highest quarter of the sector
20192025
Solvency
85.3%
▼ 0.9pp
2025
highest quarter of the sector
20192025
Current ratio
18.04
▲ 1.86
2025
highest quarter of the sector
20192025
Return on assets (ROA)
9.1%
▲ 8.2pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€85,482-€95,782▲ 12.0%€107,732▲ 12.5%€112,027▲ 4.0%€85,475▼ 23.7%€1,281▼ 98.5%€45,300▲ 35×
Net result€62,208-€67,977above the sector's middle half▲ 9.3%€77,788above the sector's middle half▲ 14.4%€77,280above the sector's middle half▼ 0.7%€65,980above the sector's middle half▼ 14.6%€4,388within the sector's middle half▼ 93.3%€36,993within the sector's middle half▲ 743%
Equity€324,936-€399,113above the sector's middle half▲ 22.8%€394,901above the sector's middle half▼ 1.1%€472,181above the sector's middle half▲ 19.6%€409,261above the sector's middle half▼ 13.3%€413,649above the sector's middle half▲ 1.1%€348,142above the sector's middle half▼ 15.8%
Total assets€532,654-€479,830within the sector's middle half▼ 9.9%€481,880within the sector's middle half▲ 0.4%€554,273above the sector's middle half▲ 15.0%€491,004within the sector's middle half▼ 11.4%€480,091above the sector's middle half▼ 2.2%€408,136within the sector's middle half▼ 15.0%
Debt€168,718-€41,717▼ 75.3%€47,978▲ 15.0%€43,092▼ 10.2%€42,743▼ 0.8%€27,442▼ 35.8%€20,993▼ 23.5%
Working capital€301,724-€352,188above the sector's middle half▲ 16.7%€350,262above the sector's middle half▼ 0.5%€439,044above the sector's middle half▲ 25.3%€385,673above the sector's middle half▼ 12.2%€416,189above the sector's middle half▲ 7.9%€350,609above the sector's middle half▼ 15.8%
Solvency61.0%-83.2%above the sector's middle half▲ 22.2pp82.0%above the sector's middle half▼ 1.2pp85.2%above the sector's middle half▲ 3.2pp83.4%above the sector's middle half▼ 1.8pp86.2%above the sector's middle half▲ 2.8pp85.3%above the sector's middle half▼ 0.9pp
Current ratio3.22-10.33above the sector's middle half▲ 7.118.30above the sector's middle half▼ 2.0311.19above the sector's middle half▲ 2.8910.02above the sector's middle half▼ 1.1716.17above the sector's middle half▲ 6.1518.04above the sector's middle half▲ 1.86
Return on assets (ROA)11.7%-14.2%within the sector's middle half▲ 2.5pp16.1%within the sector's middle half▲ 2.0pp13.9%within the sector's middle half▼ 2.2pp13.4%within the sector's middle half▼ 0.5pp0.9%below the sector's middle half▼ 12.5pp9.1%within the sector's middle half▲ 8.2pp
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 over 35 times that of 2024. It is a recovery after the fall 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 €408,136
Fixed assets
€36,945 ▲ 1.3%
Current assets
€371,191 ▼ 16.3%
Equity and liabilities €408,136
Equity
€348,142 ▼ 15.8%
Provisions
€39,000 =
Debt
€20,993 ▼ 23.5%
Debt's share of the balance-sheet total falls from 5.7% to 5.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€53,458▲
2024 · €7,949
Cash flow
€45,151▲
2024 · €11,057
Quick ratio
15.51▲
2024 · 14.28
Debt to equity
0.06▼
2024 · 0.07
ROE
10.6%▲
2024 · 1.1%
Interest coverage
83.66▲
2024 · 19.93
Debt ≤ 1 year
€20,582▼
2024 · €27,430
Income taxes
€13,695▲
2024 · €3,812
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €8,631 |
| Depreciation and write-downs of the year | €11,502 | €9,549 | €6,669 | €8,158 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €258 awarded · €258 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €79 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,259 | €15,545 | €18,476 | €11,502 | €9,549 | €6,669 | €8,158 | ▲ 22.3% |
| Other operating charges640/8 | - | - | - | €2,247 | €2,027 | €2,102 | €1,501 | ▼ 28.6% |
| Non-recurring operating charges66A | - | - | - | - | - | €19,447 | €0 | ▼ 100% |
| Gross operating margin9900 | €114,729 | €112,984 | €128,068 | €125,776 | €97,130 | €29,498 | €54,959 | ▲ 86.3% |
| Operating profit (loss)9901 | €85,482 | €95,782 | €107,732 | €112,027 | €85,475 | €1,281 | €45,300 | ▲ 35× |
| Financial income75/76B | - | - | - | €0 | €146 | €7,318 | €6,028 | ▼ 17.6% |
| Recurring financial income75 | €0 | €29 | - | €0 | €146 | €7,318 | €6,028 | ▼ 17.6% |
| Financial charges65/66B | - | - | - | €1,035 | €437 | €399 | €639 | ▲ 60.2% |
| Recurring financial charges65 | €1,351 | €928 | €618 | €1,035 | €437 | €399 | €639 | ▲ 60.2% |
| Profit (loss) for the period before taxes9903 | €84,131 | €94,884 | €107,114 | €110,991 | €85,184 | €8,200 | €50,689 | ▲ 518% |
| Income taxes67/77 | €21,923 | €26,907 | €29,325 | €33,711 | €19,204 | €3,812 | €13,695 | ▲ 259% |
| Profit (loss) for the period9904 | €62,208 | €67,977 | €77,788 | €77,280 | €65,980 | €4,388 | €36,993 | ▲ 743% |
| Transfer from tax-exempt reserves789 | - | - | - | €8,575 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €62,208 | €67,977 | €77,788 | €85,855 | €65,980 | €4,388 | €36,993 | ▲ 743% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €532,654 | €479,830 | €481,880 | €554,273 | €491,004 | €480,091 | €408,136 | ▼ 15.0% |
| Fixed assets21/28 | €95,177 | €89,897 | €83,639 | €72,137 | €62,588 | €36,472 | €36,945 | ▲ 1.3% |
| Tangible fixed assets22/27 | €95,177 | €89,897 | €83,639 | €72,137 | €62,588 | €36,472 | €36,945 | ▲ 1.3% |
| Plant, machinery and equipment23 | - | - | - | €1,444 | €1,083 | €721 | €3,113 | ▲ 332% |
| Furniture and vehicles24 | - | - | - | €10,768 | €10,183 | €10,000 | €14,206 | ▲ 42.1% |
| Other tangible fixed assets26 | - | - | - | €59,925 | €51,323 | €25,751 | €19,626 | ▼ 23.8% |
| Current assets29/58 | €437,477 | €389,933 | €398,240 | €482,136 | €428,416 | €443,619 | €371,191 | ▼ 16.3% |
| Stocks and contracts in progress3 | €76,579 | €51,919 | €51,919 | €51,919 | €51,919 | €51,919 | €51,919 | = |
| Stocks30/36 | - | - | - | €51,919 | €51,919 | €51,919 | €51,919 | = |
| Amounts receivable within one year40/41 | €55,383 | €38,709 | €12,185 | €37,119 | €12,023 | €30,885 | €22,539 | ▼ 27.0% |
| Trade receivables40 | - | - | - | €37,119 | €6,415 | €16,113 | €17,807 | ▲ 10.5% |
| Other amounts receivable41 | - | - | - | - | €5,608 | €14,773 | €4,732 | ▼ 68.0% |
| Current investments50/53 | - | - | - | - | €200,000 | €200,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €305,516 | €299,304 | €334,136 | €392,422 | €164,473 | €154,240 | €296,732 | ▲ 92.4% |
| Deferred charges and accrued income490/1 | - | - | - | €675 | €0 | €6,574 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €532,654 | €479,830 | €481,880 | €554,273 | €491,004 | €480,091 | €408,136 | ▼ 15.0% |
| Equity10/15 | €324,936 | €399,113 | €394,901 | €472,181 | €409,261 | €413,649 | €348,142 | ▼ 15.8% |
| Contributions10/11 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €311,542 | €379,142 | €367,892 | €445,147 | €382,227 | €386,607 | €321,097 | ▼ 16.9% |
| Non-distributable reserves130/1 | - | - | - | €8,567 | €17,142 | €17,142 | €17,142 | = |
| Reserves not available under the articles1311 | - | - | - | €8,567 | €17,142 | €17,142 | €17,142 | = |
| Distributable reserves133 | - | - | - | €436,580 | €365,085 | €369,465 | €303,955 | ▼ 17.7% |
| Profit (loss) carried forward14 | €994 | €1,371 | €8,409 | €8,434 | €8,434 | €8,442 | €8,446 | = |
| Provisions and deferred taxes16 | €39,000 | €39,000 | €39,000 | €39,000 | €39,000 | €39,000 | €39,000 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €39,000 | €39,000 | €39,000 | €39,000 | = |
| Pensions and similar obligations160 | - | - | - | €39,000 | €39,000 | €39,000 | €39,000 | = |
| Amounts payable17/49 | €168,718 | €41,717 | €47,978 | €43,092 | €42,743 | €27,442 | €20,993 | ▼ 23.5% |
| Amounts payable after more than one year17 | €8,306 | €3,972 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €135,753 | €37,745 | €47,978 | €43,092 | €42,743 | €27,430 | €20,582 | ▼ 25.0% |
| Trade debts44 | €36,710 | €16,922 | €15,806 | €14,953 | €15,056 | €7,729 | €2,055 | ▼ 73.4% |
| Suppliers440/4 | - | - | - | €14,953 | €15,056 | €7,729 | €2,055 | ▼ 73.4% |
| Taxes, remuneration and social security45 | - | - | - | €24,645 | €7,687 | €19,701 | €13,527 | ▼ 31.3% |
| Taxes450/3 | - | - | - | €24,645 | €7,687 | €13,670 | €13,527 | ▼ 1.0% |
| Remuneration and social security454/9 | - | - | - | - | - | €6,031 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €3,494 | €20,000 | €0 | €5,000 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €12 | €412 | ▲ 34× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €62,208 | €67,977 | €77,788 | €77,280 | €65,980 | €4,388 | €36,993 | ▲ 743% |
| + Depreciation and write-downs630 | €13,259 | €15,545 | €18,476 | €11,502 | €9,549 | €6,669 | €8,158 | ▲ 22.3% |
| Operating cash flow (approximation) | €75,467 | €83,522 | €96,264 | €88,782 | €75,529 | €11,057 | €45,151 | ▲ 308% |
| Investment in fixed assets (approximation) | - | -€10,265 | -€12,218 | €0 | €0 | €19,447 | -€8,631 | - |
| Change in cash | - | -€6,211 | €34,831 | €58,287 | -€227,949 | -€10,234 | €142,493 | - |
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, 31,368 companies had the same profile as DAFRA ENGINEERING has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DAFRA ENGINEERING 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 31,368 companies, not a prediction for DAFRA ENGINEERING. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 03-03-2026 | 2026-00048766 | |
| 30-09-2024 | micro format | 10-03-2025 | 2025-00048144 | |
| 30-09-2023 | micro format | 07-03-2024 | 2024-00041853 | |
| 30-09-2022 | micro format | 09-03-2023 | 2023-00038176 | |
| 30-09-2021 | micro format | 31-03-2022 | 2022-09800433 | |
| 30-09-2020 | micro format | 23-03-2021 | 2021-08200239 | |
| 30-09-2019 | micro format | 02-04-2020 | 2020-08500388 | |
| 30-09-2018 | micro format | 02-05-2019 | 2019-11900258 | |
| 30-09-2017 | micro format | 27-04-2018 | 2018-11000379 | |
| 30-09-2016 | abbreviated format | 30-03-2017 | 2017-08500161 |