DALS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 18-07-2026 at the NBB all 5 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€23,813
2024 · €57,465
Working capital
-€276,889▼ 334%
2024 · -€63,812
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€7,341
▼ 38.3%
2025
20212025
Net result
-€23,813
2025
lowest quarter of the sector
20212025
Equity
€164,466
▼ 12.6%
2025
middle half of the sector
20212025
Total assets
€1.0m
▲ 105%
2025
middle half of the sector
20212025
Debt
€859,021
▲ 176%
2025
20212025
Working capital
-€276,889
▼ 334%
2025
lowest quarter of the sector
20212025
Solvency
16.1%
▼ 21.6pp
2025
lowest quarter of the sector
20212025
Current ratio
0.06
▼ 0.18
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
-2.3%
▼ 13.8pp
2025
lowest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.002m-€0.006m€0.001m▼ 90.2%-€0.005m-€0.007m▼ 38.3%
Net result€0.006mwithin the sector's middle half-€0.06mwithin the sector's middle half▲ 966%€0.05mwithin the sector's middle half▼ 11.3%€0.06mwithin the sector's middle half▲ 6.2%-€0.02mbelow the sector's middle half
Equity€0.02mbelow the sector's middle half-€0.08mwithin the sector's middle half▲ 388%€0.1mwithin the sector's middle half▲ 70.5%€0.2mwithin the sector's middle half▲ 43.9%€0.2mwithin the sector's middle half▼ 12.6%
Total assets€0.5mwithin the sector's middle half-€0.5mwithin the sector's middle half▲ 1.1%€0.5mwithin the sector's middle half▲ 1.0%€0.5mwithin the sector's middle half▲ 1.0%€1.0mwithin the sector's middle half▲ 105%
Debt€0.5m-€0.4m▼ 11.9%€0.4m▼ 11.9%€0.3m▼ 14.4%€0.9m▲ 176%
Working capital-€0.06mbelow the sector's middle half--€0.07mbelow the sector's middle half▼ 6.6%-€0.08mbelow the sector's middle half▼ 17.6%-€0.06mbelow the sector's middle half▲ 18.3%-€0.3mbelow the sector's middle half▼ 334%
Solvency3.2%below the sector's middle half-15.6%below the sector's middle half▲ 12.4pp26.4%within the sector's middle half▲ 10.8pp37.7%within the sector's middle half▲ 11.2pp16.1%below the sector's middle half▼ 21.6pp
Current ratio0.07below the sector's middle half-0.13below the sector's middle half▲ 0.060.16below the sector's middle half▲ 0.030.24below the sector's middle half▲ 0.080.06below the sector's middle half▼ 0.18
Return on assets (ROA)1.2%within the sector's middle half-12.4%above the sector's middle half▲ 11.3pp10.9%above the sector's middle half▼ 1.5pp11.5%above the sector's middle half▲ 0.6pp-2.3%below the sector's middle half▼ 13.8pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 loss of €7,341, larger than the loss of €5,310 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€1.0m ▲ 110%
Current assets
€16,487 ▼ 17.8%
Equity and liabilities €1.0m
Equity
€164,466 ▼ 12.6%
Debt
€859,021 ▲ 176%
Debt's share of the balance-sheet total rises from 62.3% to 83.9%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
5.22▲
2024 · 1.66
ROE
-14.5%▼
2024 · 30.5%
Debt ≤ 1 year
€293,376▲
2024 · €83,860
Debt > 1 year
€565,645▲
2024 · €227,909
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 |
|---|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | €205,000 | €205,000 | €205,000 | €205,000 | €184,045 |
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 |
|---|---|---|---|---|---|
| Financial fixed assets | €480,000 | - | - | - | €527,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €16,904 | €104,476 | €51,783 | €59,882 | €69,284 | ▲ 15.7% |
| Other operating charges640/8 | €1,730 | - | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €224 | €5,834 | €959 | -€4,923 | -€6,942 | ▼ 41.0% |
| Operating profit (loss)9901 | -€1,506 | €5,834 | €575 | -€5,310 | -€7,341 | ▼ 38.3% |
| Financial income75/76B | €18,488 | €68,629 | €65,237 | €73,800 | - | - |
| Recurring financial income75 | €18,488 | €68,629 | €65,237 | €73,800 | - | - |
| Financial charges65/66B | €10,690 | €7,374 | €6,298 | €5,258 | €16,471 | ▲ 213% |
| Recurring financial charges65 | €10,690 | €7,374 | €6,248 | €5,258 | €16,471 | ▲ 213% |
| Non-recurring financial charges66B | - | - | €50 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €6,293 | €67,089 | €59,514 | €63,232 | -€23,813 | - |
| Income taxes67/77 | €572 | €6,099 | €5,410 | €5,767 | - | - |
| Profit (loss) for the period9904 | €5,721 | €60,990 | €54,103 | €57,465 | -€23,813 | - |
| Profit (loss) for the period to be appropriated9905 | €5,721 | €60,990 | €54,103 | €57,465 | -€23,813 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.5m | €0.5m | €0.5m | €0.5m | €1.0m | ▲ 105% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.5m | €0.5m | €1.0m | ▲ 110% |
| Financial fixed assets28 | €0.5m | €0.5m | €0.5m | €0.5m | €1.0m | ▲ 110% |
| Current assets29/58 | €0.005m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 17.8% |
| Amounts receivable within one year40/41 | €0.001m | €0.005m | €0.01m | €0.02m | €0.008m | ▼ 46.1% |
| Trade receivables40 | - | - | €0.006m | €0.007m | €0.003m | ▼ 60.8% |
| Other amounts receivable41 | €0.001m | €0.005m | €0.008m | €0.009m | €0.006m | ▼ 35.3% |
| Cash at bank and in hand54/58 | €0.004m | €0.005m | €0.002m | €0.004m | €0.008m | ▲ 85.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.5m | €0.5m | €0.5m | €0.5m | €1.0m | ▲ 105% |
| Equity10/15 | €0.02m | €0.08m | €0.1m | €0.2m | €0.2m | ▼ 12.6% |
| Contributions10/11 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.006m | €0.07m | €0.1m | €0.2m | €0.2m | = |
| Distributable reserves133 | €0.006m | €0.07m | €0.1m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | - | - | - | - | -€0.02m | - |
| Amounts payable17/49 | €0.5m | €0.4m | €0.4m | €0.3m | €0.9m | ▲ 176% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | €0.3m | €0.2m | €0.6m | ▲ 148% |
| Financial debts170/4 | €0.4m | €0.3m | €0.3m | €0.2m | €0.6m | ▲ 148% |
| Amounts payable within one year42/48 | €0.07m | €0.08m | €0.09m | €0.08m | €0.3m | ▲ 250% |
| Current portion of amounts payable after more than one year42 | €0.06m | €0.07m | €0.07m | €0.04m | €0.1m | ▲ 190% |
| Trade debts44 | €68 | €21 | €21 | €21 | - | - |
| Suppliers440/4 | €68 | €21 | €21 | €21 | - | - |
| Taxes, remuneration and social security45 | €0.001m | €0.008m | €0.02m | €0.01m | €0.01m | ▼ 0.5% |
| Taxes450/3 | €0.001m | €0.008m | €0.02m | €0.01m | €0.01m | ▼ 0.5% |
| Other amounts payable47/48 | €0.002m | €0.003m | €0.009m | €0.03m | €0.2m | ▲ 456% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,721 | €60,990 | €54,103 | €57,465 | -€23,813 | - |
| Operating cash flow (approximation) | €5,721 | €60,990 | €54,103 | €57,465 | -€23,813 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€527,000 | - |
| Change in cash | - | €1,341 | -€3,818 | €2,680 | €3,688 | ▲ 37.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 18-07-2026 | 2026-00309532 | |
| 31-12-2024 | full format | 24-07-2025 | 2025-00302189 | |
| 31-12-2023 | full format | 06-07-2024 | 2024-00216411 | |
| 31-12-2022 | full format | 19-07-2023 | 2023-00252691 | |
| 31-12-2021 | full format | 07-12-2022 | 2022-20534419 |