DE BRUYKER CONSTRUCT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 25 filings
Turnover
≈ €880,000
Estimated: probably between €710,000 and €1.3m
Total assets
€908,665▲ 11.9%
2024 · €811,784
Net result
€105,064▲ 30.5%
2024 · €80,522
Working capital
€377,636▲ 39.4%
2024 · €270,857
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€152,772
▲ 34.8%
2025
20182025
Net result
€105,064
▲ 30.5%
2025
highest quarter of the sector
20182025
Equity
€604,212
▲ 21.0%
2025
highest quarter of the sector
20182025
Total assets
€908,665
▲ 11.9%
2025
middle half of the sector
20182025
Debt
€304,453
▼ 2.6%
2025
20182025
Working capital
€377,636
▲ 39.4%
2025
middle half of the sector
20182025
Solvency
66.5%
▲ 5.0pp
2025
highest quarter of the sector
20182025
Current ratio
3.65
▲ 0.95
2025
highest quarter of the sector
20182025
Return on assets (ROA)
11.6%
▲ 1.6pp
2025
middle half of the sector
20182025
Staff (FTE)
4.8
▼ 20.0%
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€56,457-€10,343▼ 81.7%€48,040▲ 364%€21,222▼ 55.8%€37,206▲ 75.3%€105,002▲ 182%€113,333▲ 7.9%€152,772▲ 34.8%
Net result€42,089-€5,448▼ 87.1%€35,931within the sector's middle half▲ 560%€12,649within the sector's middle half▼ 64.8%€25,519within the sector's middle half▲ 102%€73,246within the sector's middle half▲ 187%€80,522within the sector's middle half▲ 9.9%€105,064above the sector's middle half▲ 30.5%
Equity€332,767-€338,215▲ 1.6%€374,146within the sector's middle half▲ 10.6%€386,795within the sector's middle half▲ 3.4%€352,314within the sector's middle half▼ 8.9%€418,626within the sector's middle half▲ 18.8%€499,148within the sector's middle half▲ 19.2%€604,212above the sector's middle half▲ 21.0%
Total assets€674,265-€953,581▲ 41.4%€730,992within the sector's middle half▼ 23.3%€699,941within the sector's middle half▼ 4.2%€647,817within the sector's middle half▼ 7.4%€730,625within the sector's middle half▲ 12.8%€811,784within the sector's middle half▲ 11.1%€908,665within the sector's middle half▲ 11.9%
Debt€341,498-€615,366▲ 80.2%€356,846▼ 42.0%€313,146▼ 12.2%€295,503▼ 5.6%€311,999▲ 5.6%€312,636▲ 0.2%€304,453▼ 2.6%
Working capital€197,378-€273,892▲ 38.8%€245,193within the sector's middle half▼ 10.5%€206,153within the sector's middle half▼ 15.9%€143,978within the sector's middle half▼ 30.2%€207,603within the sector's middle half▲ 44.2%€270,857within the sector's middle half▲ 30.5%€377,636within the sector's middle half▲ 39.4%
Solvency49.4%-35.5%▼ 13.9pp51.2%within the sector's middle half▲ 15.7pp55.3%within the sector's middle half▲ 4.1pp54.4%within the sector's middle half▼ 0.9pp57.3%within the sector's middle half▲ 2.9pp61.5%within the sector's middle half▲ 4.2pp66.5%above the sector's middle half▲ 5.0pp
Current ratio2.20-1.95▼ 0.253.45above the sector's middle half▲ 1.512.98above the sector's middle half▼ 0.472.25within the sector's middle half▼ 0.732.20within the sector's middle half▼ 0.052.70within the sector's middle half▲ 0.503.65above the sector's middle half▲ 0.95
Return on assets (ROA)6.2%-0.6%▼ 5.7pp4.9%within the sector's middle half▲ 4.3pp1.8%within the sector's middle half▼ 3.1pp3.9%within the sector's middle half▲ 2.1pp10.0%above the sector's middle half▲ 6.1pp9.9%within the sector's middle half▼ 0.1pp11.6%within the sector's middle half▲ 1.6pp
Staff (FTE)6.1-8.1▲ 32.8%6.2within the sector's middle half▼ 23.5%5.1within the sector's middle half▼ 17.7%5.4within the sector's middle half▲ 5.9%5.8within the sector's middle half▲ 7.4%6within the sector's middle half▲ 3.4%4.8within the sector's middle half▼ 20.0%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 35% higher than in 2024 and the highest since 2018. It is the fourth rise in a row, after the fall in 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €908,665
Fixed assets
€388,546 ▲ 1.9%
Current assets
€520,119 ▲ 20.8%
Equity and liabilities €908,665
Equity
€604,212 ▲ 21.0%
Debt
€304,453 ▼ 2.6%
Debt's share of the balance-sheet total falls from 38.5% to 33.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€232,337▲
2024 · €173,822
Cash flow
€184,629▲
2024 · €141,011
Quick ratio
2.55▲
2024 · 1.78
Debt to equity
0.50▼
2024 · 0.63
ROE
17.4%▲
2024 · 16.1%
Interest coverage
66.80▼
2024 · 73.37
Debt ≤ 1 year
€142,483▼
2024 · €159,531
Debt > 1 year
€129,240▼
2024 · €131,267
Income taxes
€44,241▲
2024 · €30,498
Staff costs
€166,141▼
2024 · €243,931
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 4 | 4 | 4 | 4 |
| full-time | 5 | 4 | 4 | 4 | 4 |
| in full-time equivalents | 5 | 4 | 4 | 4 | 4 |
| Average over the year, in full-time equivalents | 5.1 | 5.4 | 5.8 | 6 | 4.8 |
| On a permanent contract | 2 | 3 | 4 | 4 | 4 |
| Joined | 8 | 2 | 5 | 5 | 3 |
| Left | 7 | 3 | 5 | 5 | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €253,448 | €205,287 | €160,835 | €180,860 | €197,561 |
| Pledge on the business | €253,448 | €205,287 | €205,287 | €205,287 | €205,287 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €75,449 | €64,457 | €21,278 | €94,214 | €86,715 |
| Depreciation and write-downs of the year | €71,083 | €65,377 | €59,276 | €60,489 | €79,565 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €45 awarded · €45 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €500 | €9,000 | - | €9,683 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €208,689 | €255,125 | €282,428 | €243,931 | €166,141 | ▼ 31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,287 | €84,946 | €77,337 | €71,083 | €65,377 | €59,276 | €60,489 | €79,565 | ▲ 31.5% |
| Other operating charges640/8 | - | - | - | €9,908 | €7,553 | €12,487 | €7,296 | €14,238 | ▲ 95.1% |
| Non-recurring operating charges66A | - | - | - | €609 | - | €568 | €840 | - | - |
| Gross operating margin9900 | €443,631 | €468,622 | €381,783 | €311,511 | €365,261 | €459,761 | €425,889 | €412,716 | ▼ 3.1% |
| Operating profit (loss)9901 | €56,457 | €10,343 | €48,040 | €21,222 | €37,206 | €105,002 | €113,333 | €152,772 | ▲ 34.8% |
| Financial income75/76B | - | - | - | €211 | €23 | €474 | €56 | €11 | ▼ 80.4% |
| Recurring financial income75 | €1,322 | €467 | €435 | €211 | €23 | €474 | €56 | €11 | ▼ 80.4% |
| Financial charges65/66B | - | - | - | €4,159 | €3,254 | €2,897 | €2,369 | €3,478 | ▲ 46.8% |
| Recurring financial charges65 | €6,496 | €4,556 | €5,072 | €4,159 | €3,254 | €2,897 | €2,369 | €3,478 | ▲ 46.8% |
| Profit (loss) for the period before taxes9903 | €51,283 | €6,254 | €43,403 | €17,274 | €33,975 | €102,579 | €111,020 | €149,305 | ▲ 34.5% |
| Income taxes67/77 | €9,194 | €806 | €7,472 | €4,625 | €8,456 | €29,333 | €30,498 | €44,241 | ▲ 45.1% |
| Profit (loss) for the period9904 | €42,089 | €5,448 | €35,931 | €12,649 | €25,519 | €73,246 | €80,522 | €105,064 | ▲ 30.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €6,353 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €42,089 | €5,448 | €35,931 | €19,002 | €25,519 | €73,246 | €80,522 | €105,064 | ▲ 30.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €674,265 | €953,581 | €730,992 | €699,941 | €647,817 | €730,625 | €811,784 | €908,665 | ▲ 11.9% |
| Fixed assets21/28 | €312,457 | €390,824 | €385,858 | €389,615 | €388,695 | €350,129 | €381,396 | €388,546 | ▲ 1.9% |
| Tangible fixed assets22/27 | €312,457 | €390,824 | €385,858 | €389,615 | €388,695 | €350,129 | €381,396 | €388,546 | ▲ 1.9% |
| Land and buildings22 | - | - | - | €343,770 | €313,219 | €279,026 | €250,040 | €218,610 | ▼ 12.6% |
| Plant, machinery and equipment23 | - | - | - | €21,121 | €32,082 | €37,226 | €30,415 | €28,805 | ▼ 5.3% |
| Furniture and vehicles24 | - | - | - | €12,333 | €42,059 | €33,334 | €100,683 | €141,108 | ▲ 40.2% |
| Leasing and similar rights25 | - | - | - | €9,915 | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €2,476 | €1,335 | €543 | €258 | €23 | ▼ 91.1% |
| Current assets29/58 | €361,808 | €562,757 | €345,134 | €310,326 | €259,122 | €380,496 | €430,388 | €520,119 | ▲ 20.8% |
| Stocks and contracts in progress3 | €105,348 | €188,301 | €127,824 | €178,708 | €178,538 | €159,683 | €146,625 | €157,377 | ▲ 7.3% |
| Stocks30/36 | - | - | - | €178,708 | €178,538 | €159,683 | €146,625 | €157,377 | ▲ 7.3% |
| Amounts receivable within one year40/41 | €236,246 | €331,913 | €78,024 | €3,131 | €11,714 | €74,167 | €177,554 | €68,075 | ▼ 61.7% |
| Trade receivables40 | - | - | - | - | €1,641 | €71,956 | €175,154 | €65,467 | ▼ 62.6% |
| Other amounts receivable41 | - | - | - | €3,131 | €10,073 | €2,211 | €2,400 | €2,608 | ▲ 8.7% |
| Cash at bank and in hand54/58 | €9,520 | €24,497 | €119,784 | €121,844 | €63,291 | €134,247 | €93,738 | €284,179 | ▲ 203% |
| Deferred charges and accrued income490/1 | - | - | - | €6,643 | €5,579 | €12,399 | €12,471 | €10,488 | ▼ 15.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €674,265 | €953,581 | €730,992 | €699,941 | €647,817 | €730,625 | €811,784 | €908,665 | ▲ 11.9% |
| Equity10/15 | €332,767 | €338,215 | €374,146 | €386,795 | €352,314 | €418,626 | €499,148 | €604,212 | ▲ 21.0% |
| Contributions10/11 | €25,000 | €25,000 | - | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €307,767 | €313,215 | €349,146 | €361,795 | €327,314 | €393,626 | €474,148 | €579,212 | ▲ 22.2% |
| Non-distributable reserves130/1 | - | - | - | €2,500 | €2,500 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,500 | €2,500 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €45,255 | €45,255 | €45,255 | €45,255 | €45,255 | = |
| Distributable reserves133 | - | - | - | €314,040 | €279,559 | €348,371 | €428,893 | €533,957 | ▲ 24.5% |
| Amounts payable17/49 | €341,498 | €615,366 | €356,846 | €313,146 | €295,503 | €311,999 | €312,636 | €304,453 | ▼ 2.6% |
| Amounts payable after more than one year17 | €173,724 | €318,814 | €253,417 | €205,287 | €160,835 | €121,783 | €131,267 | €129,240 | ▼ 1.5% |
| Financial debts170/4 | - | - | - | €205,287 | €160,835 | €121,783 | €131,267 | €129,240 | ▼ 1.5% |
| Amounts payable within one year42/48 | €164,430 | €288,865 | €99,941 | €104,173 | €115,144 | €172,893 | €159,531 | €142,483 | ▼ 10.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €48,161 | €44,452 | €39,052 | €49,593 | €68,321 | ▲ 37.8% |
| Trade debts44 | €70,671 | €192,073 | €9,117 | €27,066 | €27,024 | €52,571 | €16,449 | €30,038 | ▲ 82.6% |
| Suppliers440/4 | - | - | - | €27,066 | €27,024 | €52,571 | €16,449 | €30,038 | ▲ 82.6% |
| Taxes, remuneration and social security45 | - | - | - | €15,758 | €4,340 | €43,655 | €44,454 | €34,006 | ▼ 23.5% |
| Taxes450/3 | - | - | - | €8,855 | €2,456 | €43,206 | €44,454 | €34,006 | ▼ 23.5% |
| Remuneration and social security454/9 | - | - | - | €6,903 | €1,884 | €449 | - | - | - |
| Other amounts payable47/48 | - | - | - | €13,188 | €39,328 | €37,615 | €49,035 | €10,118 | ▼ 79.4% |
| Accrued charges and deferred income492/3 | - | - | - | €3,686 | €19,524 | €17,323 | €21,838 | €32,730 | ▲ 49.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,089 | €5,448 | €35,931 | €12,649 | €25,519 | €73,246 | €80,522 | €105,064 | ▲ 30.5% |
| + Depreciation and write-downs630 | €85,287 | €84,946 | €77,337 | €71,083 | €65,377 | €59,276 | €60,489 | €79,565 | ▲ 31.5% |
| Operating cash flow (approximation) | €127,376 | €90,394 | €113,268 | €83,732 | €90,896 | €132,522 | €141,011 | €184,629 | ▲ 30.9% |
| Investment in fixed assets (approximation) | - | -€163,313 | -€72,371 | -€74,840 | -€64,457 | -€20,710 | -€91,756 | -€86,715 | ▲ 5.5% |
| Change in cash | - | €14,977 | €95,287 | €2,060 | -€58,553 | €70,956 | -€40,509 | €190,441 | - |
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, 31,368 companies had the same profile as DE BRUYKER CONSTRUCT has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DE BRUYKER CONSTRUCT 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 31,368 companies, not a prediction for DE BRUYKER CONSTRUCT. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 06-07-2026 | 2026-00266083 | |
| 31-12-2024 | abbreviated format | 11-07-2025 | 2025-00262889 | |
| 31-12-2023 | abbreviated format | 01-07-2024 | 2024-00188468 | |
| 31-12-2022 | abbreviated format | 23-06-2023 | 2023-00151370 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20103778 | |
| 31-12-2020 | abbreviated format | 20-07-2021 | 2021-37600401 | |
| 31-12-2019 | abbreviated format | 17-07-2020 | 2020-31400421 | |
| 31-12-2018 | abbreviated format | 10-07-2019 | 2019-31300442 | |
| 31-12-2017 | abbreviated format | 25-06-2018 | 2018-23900395 | |
| 31-12-2016 | micro format | 12-06-2017 | 2017-16900300 |