Equity
DCF has made a profit in every financial year since 2016.
DCF has made a profit in every financial year since 2016.
The accounts state no turnover.
Green is investment, beige is depreciation.
In 2025, 3 people joined and 1 left.
The 2018 accounts came latest: 22 days after the end of the period.
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 37% of them on solvency, 61% on liquidity, 36% on profitability and 53% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 10,904 companies had the same profile as DCF has now. Each dot stands for 28 companies, two years later.
That fits the bankruptcy probability of DCF itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 10,904 companies, not a prediction for DCF. 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.
Liquidity is ample, with a current ratio of 1.59 (1.46 in 2024), above the usual 1.5. Short-term debt is 60.7% and cash 60.5% of total assets. However, 60.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 9 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| DCF Ghent | €474,012 | €235,983 | 39.3% | 2.7 |
| REACT.PRO Sint-Niklaas | €500,883 | €293,296 | 30.7% | 2.9 |
| CONFERENCE PERMANENTE DES INTERCOMMUNALES WALONNES DE GESTION DES DECHETS Floreffe | €509,429 | €246,962 | 10.2% | 2.4 |
| BACK2BE Nandrin | €368,721 | €228,833 | 79.6% | 2.6 |
| BEARDED CHEF CONCEPTS Ghent | €414,697 | €290,595 | 12.4% | 3.2 |
| byNubian Ghent | €667,457 | €352,652 | 54.4% | 2 |
| proFarm Aalst | €620,509 | €202,228 | 74.1% | 2.6 |
These companies have the same main activity as DCF: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €369,000 and €667,000, founded between 2013 and 2015.
DCF has existed since 2015. The gross margin grew from €47,791 in 2016 to €235,983 in 2025 and staff from 0.2 to 2.7 full-time equivalents.
Solvency rose in 2025 from 32.1% to 39.3% because of the retained profit and lower debts.
In November 2022, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €380,000. Estimated: probably between €310,000 and €490,000.
Higher than 38% of 3,873 companies in 2025.
Higher than 55% of 3,727 companies in 2025.
Higher than 49% of 3,849 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 3 people joined and 1 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
474,012 | 542,650 | 486,459 | 625,503 | 1.5m | 1.9m | 973,706 | 2.3m | 449,210 | 385,857 | |
21/28 |
17,098 | 4,615 | 1,182 | 2,338 | 3,117 | 3,357 | 2,668 | 6,024 | 8,258 | 15,300 | |
21 |
- | - | - | - | - | - | 1,771 | 4,086 | 6,401 | 8,716 | |
22/27 |
16,918 | 4,435 | 1,002 | 2,158 | 2,937 | 3,177 | 717 | 1,758 | 1,677 | 6,404 | |
24 |
16,918 | 4,435 | 1,002 | 2,158 | 2,937 | 3,177 | 717 | 1,758 | 1,677 | 6,404 | |
28 |
180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | |
29/58 |
456,914 | 538,034 | 485,277 | 623,165 | 1.5m | 1.9m | 971,037 | 2.3m | 440,952 | 370,557 | |
29 |
- | - | - | - | - | - | 22,500 | - | - | - | |
290 |
- | - | - | - | - | - | 22,500 | - | - | - | |
40/41 |
165,458 | 175,523 | 177,259 | 276,502 | 605,022 | 254,652 | 620,162 | 981,736 | 208,517 | 197,777 | |
40 |
150,851 | 142,979 | 176,813 | 272,914 | 476,541 | 254,471 | 218,635 | 130,195 | 199,590 | 183,932 | |
41 |
14,607 | 32,545 | 446 | 3,589 | 128,481 | 181 | 401,527 | 851,541 | 8,928 | 13,845 | |
54/58 |
286,583 | 360,172 | 304,101 | 338,771 | 884,808 | 1.7m | 324,294 | 1.3m | 230,342 | 172,065 | |
490/1 |
4,873 | 2,340 | 3,917 | 7,892 | 6,575 | 5,352 | 4,081 | 3,534 | 2,092 | 715 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
474,012 | 542,650 | 486,459 | 625,503 | 1.5m | 1.9m | 973,706 | 2.3m | 449,210 | 385,857 | |
10/15 |
186,061 | 173,984 | 171,849 | 170,770 | 170,356 | 158,977 | 151,740 | 144,856 | 127,147 | 110,249 | |
10/11 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
10 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | - | - | - | - | - | |
100 |
100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
13 |
86,061 | 73,984 | 71,849 | 70,770 | 70,000 | 58,000 | 51,000 | 44,000 | 27,000 | 10,000 | |
130/1 |
10,000 | 3,618 | 3,618 | 3,518 | 3,518 | 2,949 | - | - | - | - | |
130 |
10,000 | 3,618 | 3,618 | 3,518 | 3,518 | 2,949 | 2,587 | 2,243 | 1,357 | 512 | |
133 |
76,061 | 70,366 | 68,231 | 67,253 | 66,482 | 55,051 | 48,413 | 41,757 | 25,643 | 9,488 | |
14 |
- | - | - | - | 356 | 977 | 740 | 856 | 147 | 249 | |
17/49 |
287,952 | 368,666 | 314,610 | 454,733 | 1.3m | 1.8m | 821,965 | 2.2m | 322,063 | 275,608 | |
42/48 |
287,952 | 368,666 | 314,610 | 454,733 | 1.3m | 1.8m | 812,003 | 2.1m | 322,063 | 275,496 | |
44 |
178,746 | 259,990 | 139,284 | 230,476 | 579,337 | 395,284 | 306,530 | 644,077 | 303,332 | 266,523 | |
440/4 |
178,746 | 259,990 | 139,284 | 230,476 | 579,337 | 395,284 | 306,530 | 644,077 | 303,332 | 266,523 | |
46 |
- | - | - | - | - | - | - | 22,000 | - | - | |
45 |
37,117 | 23,237 | 12,551 | 42,943 | 36,251 | 58,734 | 14,787 | 9,017 | 18,731 | 8,973 | |
450/3 |
11,808 | 6,127 | 3,717 | 12,459 | 19,016 | 45,141 | 4,363 | 1,773 | 12,024 | 6,945 | |
454/9 |
25,309 | 17,110 | 8,835 | 30,484 | 17,235 | 13,593 | 10,425 | 7,244 | 6,706 | 2,028 | |
47/48 |
72,089 | 85,439 | 162,775 | 181,314 | 713,560 | 1.3m | 490,685 | 1.4m | - | - | |
492/3 |
- | - | - | - | 19 | 18 | 9,962 | 75,929 | - | 112 | |
| Income statement | |||||||||||
76A |
- | - | - | - | - | 5,000 | - | - | - | - | |
9900 |
235,983 | 143,136 | 114,758 | 217,251 | 142,591 | 142,325 | 87,809 | 78,565 | 86,330 | 47,791 | |
62 |
207,031 | 129,532 | 99,683 | 204,170 | 113,379 | 113,852 | 68,866 | 46,803 | 47,373 | 19,591 | |
630 |
3,469 | 1,403 | 1,156 | 1,890 | 1,627 | 3,666 | 3,356 | 4,386 | 8,011 | 11,022 | |
631/4 |
- | - | - | - | - | 9,375 | -2,900 | - | 2,900 | - | |
640/8 |
1,029 | 1,442 | 2,640 | 2,157 | 1,419 | 1,862 | 4,188 | 798 | 566 | 1,357 | |
66A |
- | - | - | - | 4,720 | - | - | - | - | - | |
9901 |
24,454 | 10,759 | 11,280 | 9,035 | 21,447 | 13,570 | 14,300 | 26,578 | 27,479 | 15,821 | |
75/76B |
54 | - | 0 | 36 | 0 | - | - | - | - | - | |
75 |
54 | - | 0 | 36 | 0 | - | - | - | - | - | |
65/66B |
2,455 | 2,003 | 3,607 | 1,339 | 1,330 | 515 | 617 | 56 | 186 | 165 | |
65 |
2,455 | 2,003 | 3,607 | 1,339 | 1,330 | 515 | 617 | 56 | 186 | 165 | |
9903 |
22,053 | 8,756 | 7,672 | 7,732 | 20,117 | 13,056 | 13,683 | 26,522 | 27,293 | 15,656 | |
67/77 |
9,976 | 6,621 | 6,594 | 7,318 | 8,739 | 5,819 | 6,799 | 8,813 | 10,394 | 5,407 | |
9904 |
12,077 | 2,135 | 1,078 | 415 | 11,378 | 7,237 | 6,884 | 17,709 | 16,898 | 10,249 | |
9905 |
12,077 | 2,135 | 1,078 | 415 | 11,378 | 7,237 | 6,884 | 17,709 | 16,898 | 10,249 | |
| Appropriation of the result | |||||||||||
9906 |
12,077 | 2,135 | 1,078 | 770 | 12,356 | 7,977 | 7,740 | 17,856 | 17,147 | 10,249 | |
14P |
- | - | 0 | 356 | 977 | - | - | - | - | - | |
691/2 |
12,077 | 2,135 | 1,078 | 770 | 12,000 | 7,000 | 7,000 | 17,000 | 17,000 | 10,000 | |
6920 |
6,382 | 0 | 100 | - | 569 | 362 | 344 | 885 | 845 | 512 | |
6921 |
5,695 | 2,135 | 978 | 770 | 11,431 | 6,638 | 6,656 | 16,115 | 16,155 | 9,488 | |
| Social balance sheet | |||||||||||
9087 |
2.7 | 1.9 | 1.5 | 3 | 2 | 2 | 1 | 1 | 1 | 0.2 | |
Hours worked1013 |
4,648 | 3,348 | 2,352 | 5,096 | 3,458 | 3,404 | 1,642 | 1,714 | 1,709 | 330 | |
| Document | |||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 22-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 22-06-2026 | 2026-00182309 | |
| 31-12-2024 | abbreviated format | 17-07-2025 | 2025-00277958 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00235209 | |
| 31-12-2022 | abbreviated format | 20-06-2023 | 2023-00154069 | |
| 31-12-2021 | abbreviated format | 17-08-2022 | 2022-20295199 | |
| 31-12-2020 | abbreviated format | 19-08-2021 | 2021-50600509 | |
| 31-12-2019 | abbreviated format | 17-08-2020 | 2020-41900011 | |
| 31-12-2018 | abbreviated format | 22-08-2019 | 2019-49300579 | |
| 31-12-2017 | abbreviated format | 08-06-2018 | 2018-17700379 | |
| 31-12-2016 | abbreviated format | 06-06-2017 | 2017-15300540 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 27,923 | 12,162 | 12,436 | 10,925 | 23,074 | 17,236 | 17,656 | 30,964 | 35,490 | 26,843 | ||
| 15,546 | 3,538 | 2,234 | 2,305 | 13,005 | 10,903 | 10,240 | 22,095 | 24,910 | 21,271 | ||
| 15,952 | 4,837 | 0 | 1,111 | 1,386 | 4,354 | 0 | 2,152 | 970 | 26,322 | ||
| -73,589 | 56,071 | -34,671 | -546,037 | -771,634 | 1.3m | -981,894 | 1.1m | 58,277 | - | ||
| 168,963 | 169,368 | 170,667 | 168,432 | 167,258 | 155,639 | 159,034 | 214,761 | 118,889 | 95,061 | ||
| 39.3% | 32.1% | 35.3% | 27.3% | 11.4% | 8.3% | 15.6% | 6.3% | 28.3% | 28.6% | ||
| 1.59 | 1.46 | 1.54 | 1.37 | 1.13 | 1.09 | 1.20 | 1.10 | 1.37 | 1.35 | ||
| 1.55 | 2.12 | 1.83 | 2.66 | 7.80 | 11.08 | 5.42 | 14.86 | 2.53 | 2.50 | ||
| 6.5% | 1.2% | 0.6% | 0.2% | 6.7% | 4.6% | 4.5% | 12.2% | 13.3% | 9.3% | ||
| 2.5% | 0.4% | 0.2% | 0.1% | 0.8% | 0.4% | 0.7% | 0.8% | 3.8% | 2.7% | ||
| 11.37 | 6.07 | 3.45 | 8.16 | 17.35 | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 3 | 1 | 3 | 2 |
| full-time | 4 | 2 | 1 | 3 | 2 |
| part-time | 0 | 1 | 0 | - | - |
| in full-time equivalents | 4 | 2.8 | 1 | 3 | 2 |
| 2.7 | 1.9 | 1.5 | 3 | 2 | |
| On a permanent contract | 4 | 2 | 1 | 3 | 2 |
| Joined | 3 | 2 | 0 | 1 | - |
| Left | 1 | 1 | 2 | 0 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | - | - | €3,090 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €15,952 | €4,837 | - | €1,111 | €1,386 |
| Financial fixed assets | €0 | - | - | - | - |
| €3,469 | €1,403 | €1,156 | €1,890 | €1,627 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 127% higher than in 2024 and the highest since 2018. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 67.9% to 60.7%. Equity is higher and debt is lower.
Source: shareholder structure in its own accounts, lists of holdings in the owners' accounts
| JEAL
registered office since 04-06-2015 · founded in 2015 · accounts filed late |
total assets €5.3m (2021) 0631.752.387 |
| Y West
registered office since 04-02-2021 · founded in 2021 |
total assets €5.2m (2025) 0762.946.570 |
| Archipl Architecten
registered office since 01-01-2008 · founded in 2007 |
total assets €2.8m (2026) 0888.028.862 |
| CGM Invest
registered office since 27-05-2019 · founded in 2019 |
total assets €1.6m (2025) 0727.501.681 |
| CDM Invest
registered office since 10-10-2018 · founded in 2018 |
total assets €1.3m (2025) 0708.896.388 |
| Terts
registered office since 04-03-2019 · founded in 2019 |
total assets €1.2m (2025) 0721.798.081 |
| Archipl Collectief
registered office since 15-02-2023 · founded in 2023 |
total assets €1.2m (2025) 0798.492.023 |
| LABYCONSULT
registered office since 01-11-1988 · founded in 1988 |
total assets €1.0m (2025) 0435.636.106 |
| ALL IMMONEY MANAGEMENT
registered office since 09-08-1995 · founded in 1990 |
total assets €481,660 (2025) 0442.437.289 |
| Jeffrey Van Impe
registered office since 09-08-2023 · founded in 2023 |
total assets €151,627 (2025) 0804.685.769 |
The network starts from the shareholders of DCF. Every company they also own or run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Brandweerstraat 19 registered office 9000 Ghent | 07-10-2015 | 2.248.480.982 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44021A3679/00A000 | 1.1 ha | 1 · 1,481 m² | 21.3 m · 5 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.
If something looks wrong or is missing, please tell us.