DCS
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 21 days after the deadline Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00424639.
Annual accounts 2025 filed on 21-08-2026 at the NBB all 9 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€6,916▲ 92.5%
2024 · -€91,727
Working capital
€856,419▼ 0.8%
2024 · €863,335
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€6,751
▲ 92.6%
2025
20182025
Net result
-€6,916
▲ 92.5%
2025
middle half of the sector
20182025
Equity
€856,419
▼ 0.8%
2025
middle half of the sector
20182025
Total assets
€1.0m
▼ 5.9%
2025
lowest quarter of the sector
20182025
Debt
€190,753
▼ 23.7%
2025
20182025
Working capital
€856,419
▼ 0.8%
2025
middle half of the sector
20182025
Solvency
81.8%
▲ 4.2pp
2025
highest quarter of the sector
20182025
Current ratio
5.49
▲ 1.04
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.7%
▲ 7.6pp
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-€0.002m--€0.006m▼ 137%-€0.005m▲ 13.8%-€0.007m▼ 47.1%-€0.008m▼ 8.5%-€0.005m▲ 31.3%-€0.09m▼ 1,594%-€0.007m▲ 92.6%
Net result-€0.003m--€0.006m▼ 129%-€0.005mwithin the sector's middle half▲ 13.5%-€0.007mwithin the sector's middle half▼ 43.4%-€0.008mwithin the sector's middle half▼ 8.9%-€0.006mwithin the sector's middle half▲ 30.5%-€0.09mbelow the sector's middle half▼ 1,559%-€0.007mwithin the sector's middle half▲ 92.5%
Equity€1.0m-€1.0m▼ 0.6%€1.0mwithin the sector's middle half▼ 0.5%€1.0mwithin the sector's middle half▼ 0.7%€1.0mwithin the sector's middle half▼ 0.8%€1.0mwithin the sector's middle half▼ 0.6%€0.9mwithin the sector's middle half▼ 9.6%€0.9mwithin the sector's middle half▼ 0.8%
Total assets€1.1m-€1.1m▼ 0.6%€1.1mwithin the sector's middle half▼ 0.4%€1.1mwithin the sector's middle half▲ 7.3%€1.1mwithin the sector's middle half▲ 1.1%€1.1mwithin the sector's middle half▼ 0.4%€1.1mwithin the sector's middle half▼ 2.2%€1.0mbelow the sector's middle half▼ 5.9%
Debt€0.08m-€0.08m▼ 0.5%€0.08m▲ 1.1%€0.2m▲ 107%€0.2m▲ 12.4%€0.2m▲ 0.4%€0.2m▲ 36.3%€0.2m▼ 23.7%
Working capital€1.0m-€1.0m▼ 0.6%€1.0mabove the sector's middle half▼ 0.5%€1.0mabove the sector's middle half▼ 0.7%€1.0mabove the sector's middle half▼ 0.8%€1.0mabove the sector's middle half▼ 0.6%€0.9mabove the sector's middle half▼ 9.6%€0.9mwithin the sector's middle half▼ 0.8%
Solvency92.7%-92.7%=92.6%above the sector's middle half▼ 0.1pp85.6%above the sector's middle half▼ 6.9pp84.0%above the sector's middle half▼ 1.6pp83.9%above the sector's middle half▼ 0.1pp77.5%above the sector's middle half▼ 6.3pp81.8%above the sector's middle half▲ 4.2pp
Current ratio13.67-13.66▼ 0.0113.45above the sector's middle half▼ 0.206.96above the sector's middle half▼ 6.496.26above the sector's middle half▼ 0.706.21above the sector's middle half▼ 0.054.45above the sector's middle half▼ 1.755.49above the sector's middle half▲ 1.04
Return on assets (ROA)-0.2%--0.6%▼ 0.3pp-0.5%within the sector's middle half▲ 0.1pp-0.6%within the sector's middle half▼ 0.2pp-0.7%within the sector's middle half▼ 0.1pp-0.5%within the sector's middle half▲ 0.2pp-8.2%below the sector's middle half▼ 7.8pp-0.7%within the sector's middle half▲ 7.6pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 €6,751, smaller than the loss of €91,586 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.0m
Equity
€856,419 ▼ 0.8%
Debt
€190,753 ▼ 23.7%
Debt's share of the balance-sheet total falls from 22.5% to 18.2%. Equity and debt are lower.
Key figures and ratios
Quick ratio
0.25▼
2024 · 0.45
Debt to equity
0.22▼
2024 · 0.29
ROE
-0.8%▲
2024 · -10.6%
Debt ≤ 1 year
€190,753▼
2024 · €250,000
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €5,789 | €1,130 | €846 | €884 | €691 | ▼ 21.8% |
| Gross operating margin9900 | -€1,234 | -€4,314 | -€3,674 | -€1,459 | -€6,735 | -€4,561 | -€90,702 | -€6,060 | ▲ 93.3% |
| Operating profit (loss)9901 | -€2,411 | -€5,715 | -€4,928 | -€7,248 | -€7,865 | -€5,406 | -€91,586 | -€6,751 | ▲ 92.6% |
| Financial charges65/66B | - | - | - | €58 | €93 | €124 | €141 | €165 | ▲ 17.0% |
| Recurring financial charges65 | €159 | €174 | €169 | €58 | €93 | €124 | €141 | €165 | ▲ 17.0% |
| Profit (loss) for the period before taxes9903 | -€2,570 | -€5,889 | -€5,096 | -€7,306 | -€7,958 | -€5,530 | -€91,727 | -€6,916 | ▲ 92.5% |
| Profit (loss) for the period9904 | -€2,570 | -€5,889 | -€5,096 | -€7,306 | -€7,958 | -€5,530 | -€91,727 | -€6,916 | ▲ 92.5% |
| Profit (loss) for the period to be appropriated9905 | -€2,570 | -€5,889 | -€5,096 | -€7,306 | -€7,958 | -€5,530 | -€91,727 | -€6,916 | ▲ 92.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 5.9% |
| Current assets29/58 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 5.9% |
| Stocks and contracts in progress3 | €1.0m | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | = |
| Stocks30/36 | - | - | - | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | = |
| Amounts receivable within one year40/41 | €0.002m | €0.003m | €0.004m | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | ▲ 2.9% |
| Trade receivables40 | - | - | - | €139 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | ▲ 2.9% |
| Cash at bank and in hand54/58 | €0.02m | €0.03m | €0.02m | €0.007m | €0.02m | €0.01m | €0.09m | €0.02m | ▼ 78.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 5.9% |
| Equity10/15 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 0.8% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Profit (loss) carried forward14 | -€0.01m | -€0.02m | -€0.02m | -€0.03m | -€0.04m | -€0.04m | -€0.1m | -€0.1m | ▼ 5.1% |
| Amounts payable17/49 | €0.08m | €0.08m | €0.08m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 23.7% |
| Amounts payable within one year42/48 | €0.08m | €0.08m | €0.08m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 23.7% |
| Trade debts44 | €0.001m | €252 | €0.001m | €0.003m | €0.003m | €0.003m | - | €0.001m | - |
| Suppliers440/4 | - | - | - | €0.003m | €0.003m | €0.003m | - | €0.001m | - |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 24.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,570 | -€5,889 | -€5,096 | -€7,306 | -€7,958 | -€5,530 | -€91,727 | -€6,916 | ▲ 92.5% |
| Operating cash flow (approximation) | -€2,570 | -€5,889 | -€5,096 | -€7,306 | -€7,958 | -€5,530 | -€91,727 | -€6,916 | ▲ 92.5% |
| Change in cash | - | €4,767 | -€4,466 | -€16,340 | €8,768 | -€1,962 | €71,256 | -€66,981 | - |
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, 929 companies had the same profile as DCS has now. Two years later, 92.8% were still going and 1.7% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a small loss
92.8%
was still going
5.5%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of DCS itself is lower: 0.1% within 12 months. It rests on far more data about DCS 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 929 companies, not a prediction for DCS. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 21-08-2026 | 2026-00424639 | |
| 31-12-2024 | abbreviated format | 30-08-2025 | 2025-00484615 | |
| 31-12-2023 | abbreviated format | 26-08-2024 | 2024-00379911 | |
| 31-12-2022 | abbreviated format | 19-07-2023 | 2023-00249628 | |
| 31-12-2021 | abbreviated format | 24-08-2022 | 2022-20310288 | |
| 31-12-2020 | abbreviated format | 03-11-2021 | 2021-75700246 | |
| 31-12-2019 | abbreviated format | 30-10-2020 | 2020-67600171 | |
| 31-12-2018 | abbreviated format | 08-10-2019 | 2019-70000338 | |
| 31-12-2017 | abbreviated format | 29-09-2018 | 2018-68400403 |