DANESH
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 6 filings
Amounts without an identifiable currency are taken as euros.
Every figure per financial year
The operating result for 2025 is 1% higher than in 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,451 | €13,582 | €13,582 | €13,582 | €13,582 | €13,582 | = |
| Other operating charges640/8 | €44,873 | €1,078 | €1,666 | €1,205 | €1,241 | €1,280 | ▲ 3.2% |
| Gross operating margin9900 | €10,918 | €47,179 | €45,497 | €46,369 | €44,804 | €45,149 | ▲ 0.8% |
| Operating profit (loss)9901 | -€37,406 | €32,519 | €30,249 | €31,582 | €29,981 | €30,287 | ▲ 1.0% |
| Financial charges65/66B | €3,625 | €5,601 | €13,939 | €8,825 | €8,189 | €7,541 | ▼ 7.9% |
| Recurring financial charges65 | €3,625 | €5,601 | €13,939 | €8,825 | €8,189 | €7,541 | ▼ 7.9% |
| Profit (loss) for the period before taxes9903 | -€41,031 | €26,918 | €16,310 | €22,757 | €21,791 | €22,745 | ▲ 4.4% |
| Income taxes67/77 | - | - | €449 | €6,073 | €5,938 | €6,070 | ▲ 2.2% |
| Profit (loss) for the period9904 | -€41,031 | €26,918 | €15,860 | €16,684 | €15,853 | €16,675 | ▲ 5.2% |
| Profit (loss) for the period to be appropriated9905 | -€41,031 | €26,918 | €15,860 | €16,684 | €15,853 | €16,675 | ▲ 5.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €538,620 | €525,332 | €510,397 | €496,302 | €484,774 | €471,705 | ▼ 2.7% |
| Fixed assets21/28 | €537,015 | €523,433 | €509,851 | €496,269 | €482,687 | €469,104 | ▼ 2.8% |
| Tangible fixed assets22/27 | €537,015 | €523,433 | €509,851 | €496,269 | €482,687 | €469,104 | ▼ 2.8% |
| Land and buildings22 | €537,015 | €523,433 | €509,851 | €496,269 | €482,687 | €469,104 | ▼ 2.8% |
| Current assets29/58 | €1,605 | €1,899 | €546 | €33 | €2,088 | €2,601 | ▲ 24.6% |
| Cash at bank and in hand54/58 | €1,605 | €1,899 | €546 | €33 | €2,088 | €2,601 | ▲ 24.6% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €538,620 | €525,332 | €510,397 | €496,302 | €484,774 | €471,705 | ▼ 2.7% |
| Equity10/15 | -€35,931 | -€9,013 | €6,847 | €23,531 | €39,384 | €56,059 | ▲ 42.3% |
| Contributions10/11 | €5,100 | €5,100 | €5,100 | €5,100 | €5,100 | €5,100 | = |
| Profit (loss) carried forward14 | -€41,031 | -€14,113 | €1,747 | €18,431 | €34,284 | €50,959 | ▲ 48.6% |
| Amounts payable17/49 | €574,551 | €534,346 | €503,550 | €472,771 | €445,390 | €415,646 | ▼ 6.7% |
| Amounts payable after more than one year17 | €477,885 | €443,218 | €420,198 | €388,160 | €355,473 | €322,125 | ▼ 9.4% |
| Financial debts170/4 | €477,885 | €443,218 | €420,198 | €388,160 | €355,473 | €322,125 | ▼ 9.4% |
| Amounts payable within one year42/48 | €96,667 | €90,397 | €83,352 | €84,612 | €89,917 | €93,520 | ▲ 4.0% |
| Current portion of amounts payable after more than one year42 | €34,667 | €34,667 | €31,403 | €32,038 | €32,686 | €36,695 | ▲ 12.3% |
| Trade debts44 | - | €731 | - | - | - | - | - |
| Suppliers440/4 | - | €731 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | €449 | €6,073 | €12,011 | €12,008 | = |
| Taxes450/3 | - | - | €449 | €6,073 | €12,011 | €12,008 | = |
| Other amounts payable47/48 | €62,000 | €55,000 | €51,500 | €46,500 | €45,219 | €44,817 | ▼ 0.9% |
| Accrued charges and deferred income492/3 | - | €731 | - | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€41,031 | €26,918 | €15,860 | €16,684 | €15,853 | €16,675 | ▲ 5.2% |
| + Depreciation and write-downs630 | €3,451 | €13,582 | €13,582 | €13,582 | €13,582 | €13,582 | = |
| Operating cash flow (approximation) | -€37,580 | €40,500 | €29,443 | €30,266 | €29,435 | €30,257 | ▲ 2.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €294 | -€1,353 | -€513 | €2,054 | €513 | ▼ 75.0% |
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, 2,372 companies had the same profile as DANESH has now. Two years later, 96.6% were still going and 1.8% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DANESH itself: 0.7% 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 2,372 companies, not a prediction for DANESH. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00378590 | |
| 31-12-2024 | micro format | 28-09-2025 | 2025-00517321 | |
| 31-12-2023 | micro format | 16-09-2024 | 2024-00461992 | |
| 31-12-2022 | micro format | 26-09-2023 | 2023-00454017 | |
| 31-12-2021 | micro format | 18-08-2022 | 2022-20294399 | |
| 31-12-2020 | micro format | 17-08-2022 | 2022-20291027 |