DANHOLD
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is 4% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €2,020 | €86,348 | €2,966 |
| Depreciation and write-downs of the year | €20,448 | €22,895 | €36,931 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,448 | €22,895 | €36,931 | ▲ 61.3% |
| Other operating charges640/8 | €5,825 | €4,890 | €3,684 | ▼ 24.7% |
| Non-recurring operating charges66A | €0 | - | - | - |
| Gross operating margin9900 | €84,583 | €87,200 | €102,531 | ▲ 17.6% |
| Operating profit (loss)9901 | €58,311 | €59,415 | €61,916 | ▲ 4.2% |
| Financial income75/76B | - | €63 | €60 | ▼ 5.1% |
| Recurring financial income75 | - | €63 | €60 | ▼ 5.1% |
| Financial charges65/66B | €38 | €44 | €0 | ▼ 100% |
| Recurring financial charges65 | €38 | €44 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €58,273 | €59,434 | €61,976 | ▲ 4.3% |
| Income taxes67/77 | €15,988 | €15,013 | €19,642 | ▲ 30.8% |
| Profit (loss) for the period9904 | €42,285 | €44,421 | €42,333 | ▼ 4.7% |
| Profit (loss) for the period to be appropriated9905 | €42,285 | €44,421 | €42,333 | ▼ 4.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €465,778 | €494,552 | €485,699 | ▼ 1.8% |
| Fixed assets21/28 | €342,955 | €406,408 | €372,443 | ▼ 8.4% |
| Tangible fixed assets22/27 | €342,955 | €406,408 | €372,443 | ▼ 8.4% |
| Land and buildings22 | €295,417 | €284,020 | €272,624 | ▼ 4.0% |
| Plant, machinery and equipment23 | €14,743 | €11,308 | €10,618 | ▼ 6.1% |
| Furniture and vehicles24 | €32,795 | €111,079 | €89,201 | ▼ 19.7% |
| Current assets29/58 | €122,823 | €88,144 | €113,256 | ▲ 28.5% |
| Amounts receivable within one year40/41 | €13,166 | €15,159 | €20,187 | ▲ 33.2% |
| Trade receivables40 | €2,343 | €0 | €6,127 | - |
| Other amounts receivable41 | €10,823 | €15,159 | €14,061 | ▼ 7.2% |
| Cash at bank and in hand54/58 | €105,608 | €66,640 | €87,481 | ▲ 31.3% |
| Deferred charges and accrued income490/1 | €4,049 | €6,344 | €5,587 | ▼ 11.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €465,778 | €494,552 | €485,699 | ▼ 1.8% |
| Equity10/15 | €428,744 | €449,165 | €445,287 | ▼ 0.9% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €176,314 | €195,314 | €190,936 | ▼ 2.2% |
| Distributable reserves133 | €176,314 | €195,314 | €190,936 | ▼ 2.2% |
| Profit (loss) carried forward14 | €242,430 | €243,851 | €244,351 | ▲ 0.2% |
| Amounts payable17/49 | €37,034 | €45,387 | €40,412 | ▼ 11.0% |
| Amounts payable within one year42/48 | €37,034 | €45,387 | €40,412 | ▼ 11.0% |
| Trade debts44 | €2,911 | €24,837 | €1,334 | ▼ 94.6% |
| Suppliers440/4 | €2,911 | €24,837 | €1,334 | ▼ 94.6% |
| Taxes, remuneration and social security45 | €18,877 | €7,671 | €8,635 | ▲ 12.6% |
| Taxes450/3 | €18,877 | €7,671 | €8,635 | ▲ 12.6% |
| Other amounts payable47/48 | €15,245 | €12,878 | €30,443 | ▲ 136% |
| Accrued charges and deferred income492/3 | €0 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,285 | €44,421 | €42,333 | ▼ 4.7% |
| + Depreciation and write-downs630 | €20,448 | €22,895 | €36,931 | ▲ 61.3% |
| Operating cash flow (approximation) | €62,733 | €67,316 | €79,264 | ▲ 17.7% |
| Investment in fixed assets (approximation) | - | -€86,348 | -€2,966 | ▲ 96.6% |
| Change in cash | - | -€38,968 | €20,841 | - |
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, 17,811 companies had the same profile as DANHOLD has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of DANHOLD 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 17,811 companies, not a prediction for DANHOLD. 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.