DB58
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-06-2026 at the NBB all 17 filings
Equity
€66,879▲ 375%
2024 · €14,088
Total assets
€390,238▼ 43.7%
2024 · €693,232
Net result
€52,791
2024 · -€8,103
Working capital
€208,698▼ 5.7%
2024 · €221,425
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€32,587
▼ 1,090%
2025
20182025
Net result
€52,791
2025
middle half of the sector
20182025
Equity
€66,879
▲ 375%
2025
middle half of the sector
20182025
Total assets
€390,238
▼ 43.7%
2025
middle half of the sector
20182025
Debt
€323,359
▼ 52.4%
2025
20182025
Working capital
€208,698
▼ 5.7%
2025
middle half of the sector
20182025
Solvency
17.1%
▲ 15.1pp
2025
middle half of the sector
20182025
Current ratio
6.61
▼ 0.91
2025
highest quarter of the sector
20182025
Return on assets (ROA)
13.5%
▲ 14.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
0
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€3,349--€2,728€12,055-€754€36,176€301▼ 99.2%-€2,738-€32,587▼ 1,090%
Net result-€24,837--€2,970▲ 88.0%-€16,454below the sector's middle half▼ 454%-€28,781below the sector's middle half▼ 74.9%€10,565within the sector's middle half-€30,769below the sector's middle half-€8,103below the sector's middle half▲ 73.7%€52,791within the sector's middle half
Equity€90,600-€87,629▼ 3.3%€71,176within the sector's middle half▼ 18.8%€42,395below the sector's middle half▼ 40.4%€52,959below the sector's middle half▲ 24.9%€22,191below the sector's middle half▼ 58.1%€14,088below the sector's middle half▼ 36.5%€66,879within the sector's middle half▲ 375%
Total assets€982,640-€995,755▲ 1.3%€976,274within the sector's middle half▼ 2.0%€939,807within the sector's middle half▼ 3.7%€730,866within the sector's middle half▼ 22.2%€706,578within the sector's middle half▼ 3.3%€693,232within the sector's middle half▼ 1.9%€390,238within the sector's middle half▼ 43.7%
Debt€892,041-€908,126▲ 1.8%€905,099▼ 0.3%€897,412▼ 0.8%€677,907▼ 24.5%€684,387▲ 1.0%€679,144▼ 0.8%€323,359▼ 52.4%
Working capital€258,605-€232,631▼ 10.0%€309,079within the sector's middle half▲ 32.9%€285,361within the sector's middle half▼ 7.7%€261,208within the sector's middle half▼ 8.5%€236,412within the sector's middle half▼ 9.5%€221,425within the sector's middle half▼ 6.3%€208,698within the sector's middle half▼ 5.7%
Solvency9.2%-8.8%▼ 0.4pp7.3%below the sector's middle half▼ 1.5pp4.5%below the sector's middle half▼ 2.8pp7.2%below the sector's middle half▲ 2.7pp3.1%below the sector's middle half▼ 4.1pp2.0%below the sector's middle half▼ 1.1pp17.1%within the sector's middle half▲ 15.1pp
Current ratio3.88-3.29▼ 0.584.21above the sector's middle half▲ 0.914.41above the sector's middle half▲ 0.219.21above the sector's middle half▲ 4.808.31above the sector's middle half▼ 0.907.52above the sector's middle half▼ 0.796.61above the sector's middle half▼ 0.91
Return on assets (ROA)-2.5%--0.3%▲ 2.2pp-1.7%below the sector's middle half▼ 1.4pp-3.1%below the sector's middle half▼ 1.4pp1.4%within the sector's middle half▲ 4.5pp-4.4%below the sector's middle half▼ 5.8pp-1.2%below the sector's middle half▲ 3.2pp13.5%above the sector's middle half▲ 14.7pp
Staff (FTE)0below the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 €32,587, larger than the loss of €2,738 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €390,238
Fixed assets
€144,315 ▼ 67.0%
Current assets
€245,923 ▼ 3.7%
Equity and liabilities €390,238
Equity
€66,879 ▲ 375%
Debt
€323,359 ▼ 52.4%
Debt's share of the balance-sheet total falls from 98.0% to 82.9%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
4.83▼
2024 · 48.21
ROE
78.9%▲
2024 · -57.5%
Debt ≤ 1 year
€37,225▲
2024 · €33,968
Debt > 1 year
€286,134▼
2024 · €645,175
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 secured on the company's own assets | €158,334 | €133,334 | €108,334 | €83,334 | €58,334 |
| Mortgages, amount registered | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 |
| Carrying value of the mortgaged assets | €459,678 | €351,466 | €351,466 | €351,466 | €144,315 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | €43,620 | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €979 | €990 | €1,075 | €513 | €528 | ▲ 2.8% |
| Gross operating margin9900 | €4,322 | -€1,753 | €13,032 | €225 | €37,166 | €1,376 | -€2,224 | -€32,059 | ▼ 1,341% |
| Operating profit (loss)9901 | €3,349 | -€2,728 | €12,055 | -€754 | €36,176 | €301 | -€2,738 | -€32,587 | ▼ 1,090% |
| Financial income75/76B | - | - | - | €7,862 | €6,399 | €4,719 | €28 | €89,505 | ▲ 3,182× |
| Recurring financial income75 | €6,254 | €7,379 | €7,454 | €7,862 | €6,399 | €4,719 | €28 | €439 | ▲ 16× |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €89,066 | - |
| Financial charges65/66B | - | - | - | €35,889 | €32,010 | €35,788 | €5,393 | €4,127 | ▼ 23.5% |
| Recurring financial charges65 | €34,396 | €7,621 | €35,962 | €35,889 | €32,010 | €35,788 | €5,393 | €4,127 | ▼ 23.5% |
| Profit (loss) for the period before taxes9903 | -€24,794 | -€2,970 | -€16,454 | -€28,781 | €10,565 | -€30,769 | -€8,103 | €52,791 | - |
| Income taxes67/77 | €43 | €0 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€24,837 | -€2,970 | -€16,454 | -€28,781 | €10,565 | -€30,769 | -€8,103 | €52,791 | - |
| Profit (loss) for the period to be appropriated9905 | -€24,837 | -€2,970 | -€16,454 | -€28,781 | €10,565 | -€30,769 | -€8,103 | €52,791 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €982,640 | €995,755 | €976,274 | €939,807 | €730,866 | €706,578 | €693,232 | €390,238 | ▼ 43.7% |
| Fixed assets21/28 | €634,168 | €661,751 | €570,799 | €570,799 | €437,839 | €437,839 | €437,839 | €144,315 | ▼ 67.0% |
| Tangible fixed assets22/27 | €634,168 | €661,751 | €570,799 | €570,799 | €437,839 | €437,839 | €437,839 | €144,315 | ▼ 67.0% |
| Land and buildings22 | - | - | - | €570,799 | €437,839 | €437,839 | €437,839 | €144,315 | ▼ 67.0% |
| Current assets29/58 | €348,472 | €334,004 | €405,476 | €369,008 | €293,027 | €268,739 | €255,393 | €245,923 | ▼ 3.7% |
| Stocks and contracts in progress3 | €42,806 | €42,806 | €37,447 | €37,447 | €28,631 | €28,631 | €28,631 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €37,447 | €28,631 | €28,631 | €28,631 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €296,881 | €290,536 | €309,759 | €313,472 | €185,939 | €213,759 | €224,187 | €26,866 | ▼ 88.0% |
| Trade receivables40 | - | - | - | €12,500 | €14,618 | €15,525 | €12,500 | €12,500 | = |
| Other amounts receivable41 | - | - | - | €300,972 | €171,322 | €198,234 | €211,687 | €14,366 | ▼ 93.2% |
| Current investments50/53 | - | - | - | - | - | - | - | €180,000 | - |
| Cash at bank and in hand54/58 | €8,785 | €662 | €58,270 | €18,090 | €78,457 | €26,349 | €2,575 | €39,057 | ▲ 15× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €982,640 | €995,755 | €976,274 | €939,807 | €730,866 | €706,578 | €693,232 | €390,238 | ▼ 43.7% |
| Equity10/15 | €90,600 | €87,629 | €71,176 | €42,395 | €52,959 | €22,191 | €14,088 | €66,879 | ▲ 375% |
| Contributions10/11 | €61,500 | €61,500 | - | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €29,100 | €26,129 | €9,676 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | - | - | - | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Reserves not available under the articles1311 | - | - | - | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | - | - | - | -€25,255 | -€14,691 | -€45,459 | -€53,562 | -€771 | ▲ 98.6% |
| Amounts payable17/49 | €892,041 | €908,126 | €905,099 | €897,412 | €677,907 | €684,387 | €679,144 | €323,359 | ▼ 52.4% |
| Amounts payable after more than one year17 | €800,252 | €802,835 | €806,704 | €811,918 | €644,986 | €650,575 | €645,175 | €286,134 | ▼ 55.7% |
| Financial debts170/4 | - | - | - | €133,334 | €108,334 | €83,334 | €58,334 | €33,334 | ▼ 42.9% |
| Other amounts payable178/9 | - | - | - | €678,584 | €536,652 | €567,241 | €586,841 | €252,800 | ▼ 56.9% |
| Amounts payable within one year42/48 | €89,867 | €101,373 | €96,397 | €83,647 | €31,820 | €32,327 | €33,968 | €37,225 | ▲ 9.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Trade debts44 | €1,312 | €2,518 | €83 | €28 | €148 | €535 | €387 | €3,644 | ▲ 841% |
| Suppliers440/4 | - | - | - | €28 | €148 | €535 | €387 | €3,644 | ▲ 841% |
| Other amounts payable47/48 | - | - | - | €58,619 | €6,672 | €6,792 | €8,581 | €8,581 | = |
| Accrued charges and deferred income492/3 | - | - | - | €1,847 | €1,101 | €1,485 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€24,837 | -€2,970 | -€16,454 | -€28,781 | €10,565 | -€30,769 | -€8,103 | €52,791 | - |
| Operating cash flow (approximation) | -€24,837 | -€2,970 | -€16,454 | -€28,781 | €10,565 | -€30,769 | -€8,103 | €52,791 | - |
| Investment in fixed assets (approximation) | - | -€27,583 | €90,953 | €0 | €132,960 | €0 | €0 | €293,524 | - |
| Change in cash | - | -€8,123 | €57,608 | -€40,180 | €60,367 | -€52,108 | -€23,774 | €36,482 | - |
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, 5,053 companies had the same profile as DB58 has now. Two years later, 95.8% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DB58 itself is lower: 0.1% within 12 months. It rests on far more data about DB58 than the profile alone.
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 5,053 companies, not a prediction for DB58. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 17-06-2026 | 2026-00167836 | |
| 31-12-2024 | abbreviated format | 16-06-2025 | 2025-00140464 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00317616 | |
| 31-12-2022 | abbreviated format | 20-07-2023 | 2023-00255957 | |
| 31-12-2021 | abbreviated format | 26-08-2022 | 2022-20321745 | |
| 31-12-2020 | abbreviated format | 27-08-2021 | 2021-55300455 | |
| 31-12-2019 | abbreviated format | 09-06-2020 | 2020-15500346 | |
| 31-12-2018 | abbreviated format | 26-08-2019 | 2019-51300247 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-56400499 | |
| 31-12-2016 | abbreviated format | 19-07-2017 | 2017-33700163 |